Interim report
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1 GRUPO SUPERVIELLE S.A. REPORTS 1Q25 CONSOLIDATED RESULTS
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2 Content Financial highlights & Key ratios ................................................................................................ 9 Review of consolidated results ............................................................................................... 13 Profitability & Comprehensive Income ................................................................................ 13 Net financial income ................................................................................................................... 14 Cost of risk & Asset quality ...................................................................................................... 20 Net service fee income & Income from insurance activities ....................................... 22 Non-interest expenses & Efficiency ...................................................................................... 24 Other comprehensive income, net of tax ........................................................................... 27 Income tax ..................................................................................................................................... 27 Loan portfolio ................................................................................................................................ 29 Risk management ........................................................................................................................ 31 Funding ............................................................................................................................................ 32 CER – UVA exposure .................................................................................................................. 35 Foreign currency exposure ....................................................................................................... 35 Liquidity & reserve requirements .......................................................................................... 36 Capital .............................................................................................................................................. 37 Results by segment......................................................................................................................... 39 Results by subsidiaries .................................................................................................................. 44 Credit ratings ..................................................................................................................................... 44 Key Events During the Quarter .................................................................................................. 44 Appendix I: Investment Securities Classification and Accounting Methodology..... 47 Appendix III: Definition of Ratios .............................................................................................. 49 Appendix IV: Banco Supervielle Financial Figures & Key Ratios ................................... 50 Appendix V: Regulatory Environment ..................................................................................... 50 About Grupo Supervielle S.A. ..................................................................................................... 58
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3 Grupo Supervielle Reports 1Q25 Results 1Q25 Net Income at AR$7.9 billion with ROAE at 3.5%. Navigated a Transitional Macro Environment; Maintain Confidence in Our Core Strengths to Drive Growth Buenos Aires, May 27, 2025 - Grupo Supervielle S.A. (NYSE: SUPV; BYMA: SUPV), (“Supervielle” or the “Company”) a universal financial services group headquartered in Argentina with a nationwide presence, today reported results for the three-month period ended March 31, 2025. Starting 1Q20, the Company began reporting results applying Hyperinflation Accounting, in accordance with IFRS rule IAS 29 (“IAS 29”) as established by the Central Bank. Management Commentary Commenting on first quarter 2025 results, Patricio Supervielle, Grupo Supervielle’s Chairman & CEO, noted: "We continued to make solid progress in advancing our long -term strategy across the organization. At Banco Supervielle, we are accelerating our transformation by scaling differentiated solutions that strengthen our position against both fintechs and traditional banks. At the core of our strategy are four key initiatives aimed at meeting and anticipating customer expectations: • First, responding to the growing demand for simple, high -yield solutions, in April we launched our innovative Remunerated Account. Supervielle is the only bank in Argentina offering daily interest on both Payroll and SME accounts, in pesos and U.S. dollars. This innovation enhances the customer experience and reinforces our deposit base. We are confident it will also support organic client growth and deepen primary banking relationships. • Second, as part of our client -centric innovation strategy, this month we launched Tienda Supervielle on Mercado Libre, Latin America’s leading e -commerce platform, becoming the first bank to have an official online store hosted on their marketplace and also fully accessible through the Supervielle mobile app. This initiative marks a key milestone in our Super App journey, expanding our digital ecosystem and redefining how customers interact with financial services by connecting everyday commerce and banking in a single, fully digital experience. • Third, as part of our ongoing efforts to elevate the customer experience and improve efficiency, we are integrating Gen AI-powered interactions via WhatsApp, enhancing accessibility while also ensuring clients can always reach a human when needed, combining technology with the personalized service that defines Supervielle. • And fourth, we continue to expand IOL, our leading online brokerage platform , which delivers integrated investment solutions to both its clients and the Bank’s customer base. While Argentina faced temporary headwinds this quarter, we remain confident in the underlying strength and momentum of our business. After a strong start to the year, industry loan demand eased amid a mix of external factors, including tight peso liquidity, FX volatility, and heightened devaluation expectations ahead of the IMF agreement. We view these pressures as transitory and remain focused on capturing opportunities as macro conditions stabilize. Client lending remained resilient, underscoring the strength of our core banking operations, while a sharp correction in treasury bond prices, amid uncertainty and prior to the confirmation of strong IMF support in April, negatively impacted investment portfolio performance. Our loan book increased 3% sequentially and 104% year -over-year in real terms, gaining 40 bps in market share over the past 12 months. Retail remained the main growth driver, now accounting for 52% of total loans, up from 48% in 4Q24 and 36% a year ago. Asset quality remains healthy. The NPL ratio rose to 2%, reflecting credit normalization following the rapid expansion in retail lending. Importantly, delinquency remains within expected levels embedded in pricing models, and we continue to refine origination and collection strategies to safeguard portfolio quality. On the funding side, deposits increased up 8% quarter-over-quarter, with market share rising 30 basis points to 3%. Together, these trends underscore the resilience of our business and provide a strong foundation for sustained, profitable growth. Net fee income rose 32% year-on-year in real terms, supported by strong growth in banking fees, brokerage and asset management revenues, and deeper insurance penetration. In line with our efficiency strategy, operating expenses declined 12% sequentially and 17% year -over-year, reflecting continued progress on structural cost reduction and a leaner operating model. Argentina is entering a new chapter. Recent measures, including the lifting of FX controls supported by the IMF and multilateral organizations, mark a shift toward greater openness and stability . This turning point is restoring confidence and creating conditions for long -term investment. At Supervielle, we are committed to supporting this
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4 transition by providing the credit and financial solutions our clients need to grow, staying close to those who produce, invest, and build. With a strong CET1 ratio of 15.3%, we are well -positioned to capture the opportunities ahead. I am proud of the digitally integrated, customer-centric platform we’ve built across banking, insurance, asset management, and online investing which is designed to give clients greater control, transparency, and simplicity. As Argentina moves toward normalization, our innovati on-led strategy and evolving platform will be key to deepening engagement, expanding our client base, and driving profitable growth,” concluded Mr. Supervielle.
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5 First quarter 2025 Highlights PROFITABILITY Attributable Net Income of AR$ 7.9 billion in 1Q25, compared to net gains of AR$72.5 billion in 1Q24 and AR$30.6 billion in 4Q24. ROAE was 3.5% in 1Q25, compared to 33.9% in 1Q24 and 13.9% in 4Q24. While profitability declined sequentially, underlying performance continued to reflect the successful execution of the Company’s focus on loan growth. Client Net Financial Margin increased in the mid to high teens, supported by higher spreads and loan volumes, while operating efficiency improved, with expenses declining in real terms. These positive changes were more than offset by: i) a sharp reduction in Market-related Net Financial Margin, reflecting lower yields on government securities, and ii) an increase in loan loss provisions due to the expansion of the retail portfolio which entails higher provisioning and the release of LLPs in 4Q24 resulting from improved macroeconomic condition s embedded in the ECL model. Lower YoY ROAE reflects an exceptionally high base in 1Q24, which had recorded extraordinary high results on government securities. ROAA was 0.6% in 1Q25 compared to 7.4% in 1Q24 and 2.6% in 4Q24. Profit before income tax totaled AR$10.2 billion in 1Q25 compared to AR$ 112.9 billion in 1Q24 and AR$24.6 billion in 4Q24. The sequential decline was mainly explained by: i) a 46.6%, or AR$ 43.3 billion, decline in market related Net Financial Income due to lower prices of government securities , ii) a 118.0%, or AR$ 16.7 billion , increase in loan loss provisions driven by strong growth in retail lending which entails higher provisioning and a lower comparison base in 4Q24, and iii) a 5.2%, or AR$ 645.1 mill ion, decline in brokerage fees amid increased market volatility. These effects were partially offset by: i) a 17.2%, or AR$ 18.5 billion, increase in client net financial income, ii) a 12.3%, or AR$ 17.4 billion, decline in operating expenses, iii) a 3.4%, or AR$ 1.2 billion, increase in fee income from our banking business as fees repriced above inflation, and iv) a 2.8% or , AR$ 208.0 billion , increase in revenues from the asset management business. Revenues (net financial income + net fee income – turnover tax) totaled AR$206.9 billion in 1Q25, compared to AR$ 477.2 billion in 1Q24 and AR$232.9 billion in 4Q24. The sequential decline in revenues was mainly driven by 12.4%, or AR$24.8 billion, decrease in Net Financial Income, primarily due to lower market - related gains. In contrast, client net financial income continued to grow during the quarter, supported by higher loan volumes and a decline in the cost of funds, in line with the decrease in market interest rates. Net Service Fee Income remained stable, with Banking fees up 3.4%, driven by above-inflation repricing, while brokerage fees declined 5.2%. Fee- related expenses increased 3.9% over the same period. The YoY decrease in revenues was mainly driven by unusually high financial income from the investment portfolio in 1Q24, and lower market interest rates following the decline in inflation , partially offset by increased loan volumes. This was partially mitigated by a 31.9%, or AR$13.0 billion, increase in Net Service Fee Income (including insurance revenue) and a 24.3%, or AR$7.2 billion, reduction in Turnover Tax reflecting lower taxable income. FINANCIAL MARGIN 72.460 30.599 7.938 1Q24 4Q24 1Q25 Attributable Net Income (AR$ Mil.) 112.892 24.574 10.185 1Q24 4Q24 1Q25 Profit Before Income Tax (AR$ Milion)
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6 Net Financial Income totaled AR$175.4 billion in 1Q25, down 62.4% YoY and 12. 4% QoQ. The QoQ decline was mainly driven by a 46.6%, or AR$43.3 billion, decrease in the Market-related Net Financial Income , reflecting lower yields on government securities amid uncertainty prior to the agreement reached with the IMF in April. In contrast, the Client Net Financial Income rose 17.2%, or AR$18.5 billion, suppor ted by strong spreads on increased loan volumes. The YoY performance reflects an 86.1% , or AR307. 0, billion decline in Market related Net Financial Income as 1Q24 had recorded an extraordinarily high result on government securities, while Client Net Financial Income increased 15.0%, or AR$16.4 billion, as the Company continued shifting its portfolio toward private-sector lending. The QoQ performance reflects a 29.5%, or AR$46.0 billion, decrease in market-related income, driven by lower yields, partially offset by a modest increase in investment portfolio volumes. This was partially offset by a 5.2%, or AR$10.8 billion, increase in loan interest income, mainly supported by 14.0% growth in loan volumes despite a 308-basis point decline in average loan yields. In terms of funding, interest expenses decreased by 6. 5%, or AR$ 10.5 billion, reflecting a 748 -basis point decline in interest paid on AR$ -denominated liabilities, while the average balance of these liabilities rose by 14.3%. Interest - bearing US$ liabilities increased by 22.6% over the quarter. The YoY performance is explained by the following declines: i) 83.2%, or AR$543. 0 billion, in market related income, reflecting lower volumes and yields on the investment portfolio as the balance sheet shifted to a higher share of loans. This compares to unusually high financial income from the investment portfolio recorded in 1Q24; and (ii) 8.4%, or AR$19,8 billion, in client interest income, driven by a 6,328-bps reduction in the average loan portfolio interest rate, following lower market rates, despite a 149.7% YoY increase in loan volumes. These impacts were partially offset by a 64.3%, or AR$272.7 billion, a decrease in interest expenses , resulting from a 5,218-bps decline in AR$ cost of funds, even as the AR$ interest-bearing liabilities increased by 7.0%. Adjusted Net Financial Income (Net Financial Income + Result from exposure to inflation) totaled AR$133.6 billion in 1Q25, decreasing 55.6% YoY, and 17.7% QoQ. Net Interest Margin (NIM) declined to 19.2% in 1Q25 from 24. 9% in 4Q24. Margins from client lending remained resilient, with loan portfolio NIM improving to 21.2% from 20.7% in 4Q24, reflecting wider spreads, underscoring the strength of our core banking operations. In contrast, Investment Portfolio NIM dropped significantly to 17. 7% from 33.6%, reflecting a sharp correction in treasury bond yields. The YoY comparison reflects the normalization of extraordinary factors that drove the unusually high 61.8% NIM in 1Q24, including gains from the sale of government securities previously recorded at amortized cost, high AR$ spreads on government securities and loans, and lower funding costs following the removal of deposit rate floors that quarter. ASSET QUALITY The total NPL ratio stood at a healthy 2.0% in 1Q25, up from 1.1% in 1Q24 and 1.3% in 4Q24. This increase reflects a normalization in credit quality following robust YoY growth of 196% and 58% (in real terms) in retail and commercial loan portfolios, respectively. The stronger expansion in the retail segment shifted the loan mix toward retail exposure, which typically carries higher NPL ratios than corporate lending. Despite this, the current NPL ratio remains below historical averages and is in line with the industry benchmark of 2% as of March 2025. Moreover, delinquency remains within expected levels embedded in product pricing, while we continue to refine our origination and collection strategies to preserve portfolio quality. Loan loss provisions (LLP s) totaled AR$31.8 billion in 1Q25, up 155.9% YoY and 80.9% QoQ. These increases reflect loan growth and a shift in the loan portfolio mix towards retail loans which entail higher provisioning than commercial loans . Retail loan volumes increased 12.8% QoQ and 196.3% YoY in real terms . The QoQ performance also reflects one-time provision releases recorded in the previous quarter, following an update to the macroeconomic variables in the expected credit loss model that incorporated a more favorable macroeconomic outlook. Net loan loss provisions , equivalent to LLPs net of recovered charged-off loans and reversed allowances, amounted to AR$ 30.9 billion in 1Q25, compared to AR$13.1 billion in 1Q24 and AR$14.2 billion in 4Q24. The Coverage Ratio stood at 152.7% as of March 31, 2025, compared to 263.7% as of March 31, 2024, and 169.2% as of December 31, 2024. NON-INTEREST EXPENSES & EFFICIENCY Efficiency ratio was 59.6% in 1Q25, compared with 33.8% in 1Q24 and 63.8% in 4Q24. The QoQ improvement was explained by a 12.3% decline in personnel and administrative expenses , along with D&A, partially offset by a 6.1% decrease in Revenues. Excluding severance payments and early retirement charges in 1Q25 related to the Company’s efficiency program, the efficiency ratio would have been 57.6%.
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7 LIQUIDITY Loans to Deposits Ratio was 66.5% as of March 31, 2025, compared to 43.6% as of March 31, 2024, and 69.7% as of December 31, 2024. The QoQ performance reflects a 7.7 % increase in Deposits outpacing loan growth of 2.7%. Total Deposits amounted to AR$ 3,709.7 billion, increasing 109.0% YoY and 16.9% QoQ in nominal terms. Total private sector deposits reached AR$ 3,576.6 billion, increasing 112.4% YoY and 18.1% QoQ in nominal terms, outpacing the industry, which reported growth of 95.4% YoY and 5.6% QoQ. In real terms, total deposits increased 34.0% YoY and 7.7% QoQ, while private sector deposits increased 36.2% YoY and 8.8% QoQ in real terms , above industry trends. Average deposits amounted to AR$ 3,245.4 billion, increasing 19.8% YoY and 9.0% QoQ in real terms. AR$ deposits totaled AR$2,823.3 billion, increasing 86.6% YoY and 21.6% QoQ in nominal terms, compared to industry growth of 88.4% YoY and 9.2% QoQ. In real terms, AR$ deposits increased 19.7% YoY and 12.0% QoQ. The YoY performance in AR$ Deposits was mainly explained by the following increases: (i) 14.5%, or AR$219.7 billion, in wholesale institutional funding, reflecting quarter -end asset and liability management, (i i) 23.7%, or AR$56.6 billion, in savings accounts, supported by declining inflation and interest rates which encouraged customers to maintain higher balances in their accounts; (ii i) 66.1%, or AR$145.7 billion, in checking accounts, driven by increased transactional volumes from commercial clients; an d (i v) 15.4%, or AR$39.7 billion, in time deposits from individuals and corporates. Additionally, the YoY comparison reflects a lower deposit base in 1Q24, when real interest rates were highly negative. The QoQ increase in AR$ deposits was mainly driven by growth of 30.7%, or AR$ 406.6 billion, in wholesale institutional funding, reflecting quarter - end asset and liability management. These gains were partially offset by declines of 12.7%, or AR$53.2 billion, in checking accounts, and 10.4%, or AR$34.4 billion, in savings accounts, as drop in end- of-period balances largely reflects the year-end seasonality recorded in the previous quarter . However, average balances recorded a 6.4% QoQ increase in savings accounts, and a 2.1% increase in checking accounts, reflecting a more favorable underlying performance than end of period figures. Foreign currency deposits amounted to US$825.4 million, increasing 170.1% YoY and 0.1% QoQ, outperforming industry FX deposits which increased 73.6% YoY and declined 6.7% QoQ. This YoY performance reflects higher US$ deposit inflows following the tax amnesty launched on August 18, 2024, as well as above-industry US$ deposit growth in prior months. As of March 31, 2025, FX deposits represented 24% of total deposits, compared to 15% as of March 31, 2024, and 27% as of December 31, 2024. ASSETS Total Assets increased 34.0% YoY and 9.1% QoQ, reaching AR$5,365.3 billion as of March 31, 2025. Total average Assets increased 27.1% YoY and 5.9% QoQ. The QoQ performance was primarily driven by a30.2%, or AR$321.1 billion, increase in the balance of government securities, reflecting quarter-end assets and liability management. Net Loans increased by 1.9% , or AR$44.3 billion , during the same period. Average balances reflect a more moderate QoQ increase of 13.7%, or AR$ 154.3 billion, in government securities, while average loans increased 14.0%, AR$291.6 billion, reflecting sustained lending activity throughout the quarter. Since 1Q24, the Company has steadily diversified its asset portfolio, sharply increasing its exposure to private-sector loans while reducing its investment portfolio. Although loan participation declined slightly at the end of 1Q25 due to a temporary increase in government securities, the overall trend reflects a strategic shift towards a more loan-centric balance sheet, expected to continue through 2025. Total loans to total assets as of March 31 , 202 5, increased to 44.6%, up 1,530 bps from 29.2% in 1Q24, and declined 310 bps from 47.7% in 4Q24. The YoY performance reflects the increase in loan growth and higher liquidity in both AR$ and US$, largely driven by the increase in US$ deposits from the tax amnesty and Company initiatives to increase US$ deposits. These positive factors were partially 90.181 72.763 67.962 43.933 53.450 41.368 13.956 14.748 14.270 33,8% 63,8% 59,6% 1Q24 4Q24 1Q25 Personnel Expenses Administrative D&A Efficiency Ratio (%)
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8 offset by a decline in government securities and central bank instruments. The leverage ratio (Assets to Shareholders’ Equity) increased 140 bps YoY to 6.0x, from 4.6x as of March 31, 2024, and 50 bps QoQ , from 5.5x as of December 31, 2024. Despite the increase, leverage remains significantly below the 8x level reached in 2018, underscoring the ample capacity to support future growth. Loans increased 218.4% YoY, and 11.5% QoQ in nominal terms, reaching AR$2,466.6 billion as of March 31, 2025. In real terms, gross loans increased 104.2% YoY and 2.7% QoQ. The YoY performance reflects the Company’s strategic decision since 1Q24 to accelerate loan origination across both commercial and retail segments, anticipating higher credit demand driven by declining inflation and lower market interest rates. The QoQ increase was particularly supported by strong retail loan demand, particularly in personal loans, car loans and credit cards. CAPITAL Common Equity Tier 1 Ratio (CET1) was 15.3% as of March 31, 2025, decreasing 990 bps YoY and 80 bps QoQ. The QoQ decrease in CET1 reflects a non -recurring impact of 1,400 bps from the implementation of the new credit and operational risk requirements , effective January and March 2025 respectively. Moreover, the CET1 ratio reflects the expansion in Risk-weighted assets driven by loan growth, as well as higher deductions on deferred tax assets. These were partially offset by organic capital creation together with inflation adjustment of capital.
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9 Financial highlights & Key ratios Information stated in terms of the measuring unit current at the end of the reporting period, including the corresponding financial figures for previous periods provided for comparative purposes. Highlights (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) INCOME STATEMENT 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ YoY Net Interest Income 148.370 155.865 161.489 219.728 332.799 -4,8% -55,4% NIFFI & Exchange Rate Differences 27.053 44.370 27.258 47.548 133.138 -39,0% -79,7% Net Financial Income 175.423 200.235 188.747 267.276 465.937 -12,4% -62,4% Net Service Fee Income (excluding income from insurance activities) 45.457 45.472 48.059 37.606 35.107 0,0% 29,5% Income from Insurance activities 1 8.459 8.515 6.806 6.052 5.764 -0,6% 46,8% RECPPC -41.872 -37.894 -53.344 -77.525 -165.131 10,5% -74,6% Loan Loss Provisions -31.820 -17.589 -12.069 -15.366 -12.433 80,9% 155,9% Personnel & Administrative Expenses -109.330 -126.213 -124.684 -122.715 -134.114 -13,4% -18,5% Profit (Loss) before income tax 10.185 24.574 12.560 40.623 112.892 -58,6% -91,0% Attributable Net income (Loss) 7.938 30.599 10.395 22.454 72.460 -74,1% -89,0% Earnings per Share (AR$) 18,1 69,9 23,6 50,8 163,7 Earnings per ADRs (AR$) 90,7 349,5 118,0 254,2 818,4 Average Outstanding Shares (in millions)2 437,7 437,7 440,6 441,6 442,7 Other Comprehensive Income (Loss) -1.755 -1.707 1.599 -2.645 -9.328 Comprehensive Income (Loss) 6.183 28.892 11.994 19.809 63.132 -78,6% -90,2% BALANCE SHEET mar 25 dec 24 sep 24 jun24 mar24 QoQ YoY Total Assets 5.365.339 4.918.983 4.676.180 4.383.126 4.002.903 9,1% 34,0% Average Assets 3 5.002.518 4.731.483 4.325.487 3.885.391 3.942.270 5,7% 26,9% Total Loans & Leasing, net of allowances 2.391.700 2.347.437 1.839.086 1.601.681 1.172.237 1,9% 104,0% Total Loans & Leasing 4 2.466.562 2.400.666 1.882.929 1.641.524 1.207.832 2,7% 104,2% Loans and financing & off balance guarantees 2.602.423 2.591.545 2.050.208 1.781.735 1.385.213 0,4% 87,9% Total Deposits 3.709.664 3.445.399 3.227.127 2.757.020 2.767.509 7,7% 34,0% Attributable Shareholders’ Equity 899.279 893.097 864.204 853.073 873.527 0,7% 2,9% Average Attributable Shareholders’ Equity3 900.645 883.614 863.139 860.234 856.226 1,9% 5,2% % Change KEY INDICATORS 1Q25 4Q24 3Q24 2Q24 1Q24 Profitability & Efficiency ROAE 3,5% 13,9% 4,8% 10,4% 33,9% ROAA 0,6% 2,6% 1,0% 2,3% 7,4% Net Interest Margin (NIM) 19,2% 24,9% 24,7% 36,3% 61,8% Net Fee Income Ratio 23,5% 21,2% 22,5% 14,0% 8,1% Cost / Assets 9,9% 11,9% 12,9% 14,1% 15,0% Efficiency Ratio 59,6% 63,8% 64,1% 50,6% 33,8% Liquidity & Capital Total Loans to Total Deposits 66,5% 69,7% 58,3% 59,5% 43,6% AR$ Loans to AR$ Deposits 75,1% 79,3% 72,1% 62,6% 46,1% US$ Loans to US$ Deposits 39,2% 43,5% 23,5% 43,6% 29,3% Liquidity Coverage Ratio (LCR) 115,3% 107,1% 139,3% 104,0% 109,9% Total Equity / Total Assets 16,8% 18,2% 18,4% 19,4% 21,8% Total Capital / Risk weighted assets 5 15,3% 16,1% 19,2% 21,3% 25,2% CET 1 / Risk weighted assets 6 15,3% 16,1% 19,2% 21,3% 25,2% Risk Weighted Assets / Total Assets 81,2% 80,8% 73,5% 71,0% 61,0% Asset Quality NPL Ratio 2,0% 1,3% 0,8% 0,8% 1,1% Allowances as a % of Total Loans 3,0% 2,1% 2,4% 2,4% 2,8% Coverage Ratio 152,7% 169,2% 281,7% 302,9% 263,7% Cost of Risk 5,0% 2,5% 2,7% 3,8% 4,1% Net Cost of Risk 4,8% 2,2% 2,4% 3,6% 3,8%
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10 1. Income from insurance activities for 1Q24, 2Q24 and 3Q24 were restated to reflect the implementation of IFRS 17. 2. As of March 31, 2025, the Company’ s treasury held 18,991,157 Class B Shares. These shares were repurchased by the Company under the two buyback program s executed in 2022 and 2024, respectively. As of the date of this report, the Company holds these shares in the treasury portfolio. 3. Average Assets and average Shareholders’ Equity calculated on a daily basis. 4. Gross Loans and Leasing before Allowances. 5. Regulatory capital divided by risk weighted assets. Since January 1, 2020, financial institutions which are controlled by non - financial institutions (this is the case of Grupo Supervielle in relation to the Bank) shall comply with the Minimum Capital requirements, among others on a consolidated basis comprising the non -financial holding company and all its subsidiaries (excluding insurance companies and non -financial subsidiaries). On March 21, 2024, the Central Bank ruled, through Communication “A” 7982, t hat starting April 2024 financial institutions should present their monthly reports reflecting consolidated operations including non -financial holding and all its subsidiaries (excluding insurance companies). In accordance with this rule, the CET 1 ratio would have been 25. 2% as of March 31, 2024, compared to the reported 24.7%. Until March 31, 2024, the Company calculated this ratio adding to the Bank’s regulatory capital ratio, the amount of liquidity held at the holding company level. 6. Common Equity Tier 1 capital divided by risk weighted assets. Applies same disclosure as in footnote 5. 7. Source: INDEC. MACROECONOMIC RATIOS 1Q25 4Q24 3Q24 2Q24 1Q24 Retail Price Index (QoQ var %) 7 8,5% 8,0% 12,1% 18,6% 51,6% Retail Price Index (YoY var %) 55,9% 117,8% 209,0% 271,5% 287,9% UVA (var) 7,2% 10,2% 13,2% 32,6% 69,6% Pesos/US$ Exchange Rate 1.073,88 1.032,50 970,92 911,75 857,42 Badlar Interest Rate (eop) 30,2% 31,9% 39,8% 36,1% 70,9% Badlar Interest Rate (avg) 29,9% 36,7% 38,4% 44,1% 101,6% Monetary Policy Rate (eop) 29,0% 32,0% 40,0% 40,0% 80,0% Monetary Policy Rate (avg) 30,1% 36,1% 40,0% 51,9% 96,0% OPERATING DATA Bank- Active Customers (in millions) 1,38 1,44 1,39 1,40 1,44 IOL-Active Customers (in millions) 0,60 0,57 0,58 0,51 0,49 Bank Branches 130 130 131 136 136 Bank Employees 3.012 3.024 3.099 3.154 3.197 Other Subsidiaries Employees 430 432 443 448 463
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11 Subsidiaries' Highlights The Table below provides main highlights from Grupo Supervielle subsidiaries. Information stated in terms of the measuring unit current at the end of the reporting period, including the corresponding financial figures for previous periods provided for comparative purposes. 1. Expressed in nominal terms in the currency of the respective date Subsidiaries- Highlights 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ YoY Banco Supervielle Attributable Net income (Loss) (AR$ Mm.) -4,226 18,023 -2,302 12,119 75,554 na na ROAE -2.3% 9.7% -1.3% 6.3% 45.2% Employees 3,012 3,024 3,099 3,154 3,197 -0.4% -5.8% Bank branches 130 130 131 136 136 0.0% -4.4% Customers (million) 1.38 1.44 1.39 1.40 1.44 -3.6% -3.6% Loans Market Share (monthly average) 2.8% 2.9% 2.7% 2.8% 2.4% Deposits Market share (monthly average) 3.0% 2.7% 3.0% 2.8% 2.8% NPL Ratio 2.0% 1.3% 0.8% 0.8% 1.1% Supervielle Asset Management (SAM) Attributable Net income (Loss) (AR$ Mm.) 3,994 4,285 3,833 3,373 3,832 -6.8% 4.2% Assets Under Management (AR$ Bn.) 1 1,294 1,386 1,181 1,060 661 -6.6% 95.8% Employees 12 12 12 12 12 0.0% 0.0% Market share 2.0% 2.4% 2.4% 2.6% 2.1% -18.0% -6.6% Number of mutual funds 17 17 17 17 17 IOL Invertironline Attributable Net income (Loss) (AR$ Mm.) 4,658 5,771 6,229 4,881 1,991 -19.3% 133.9% Customers (thousands) 603 569 579 506 493 6.0% 22.4% Assets Under Custody (AR$ Bn.) 1 2,262 2,049 1,517 1,325 908 10.4% 149.1% Employees 162 158 156 154 165 2.5% -1.8% Supervielle Seguros Attributable Net income (Loss) (AR$ Mm.) 3,314 3,351 1,862 2,849 -892 -1.1% -471.6% Combined Ratio 59.1% 62.0% 65.3% 65.9% 66.4% Employees 147 157 157 159 156 -6.4% -5.8% Insurance Policies 422,062 458,566 453,917 444,380 438,598 -8.0% -3.8% % Change
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12 Managerial information. Non-restated figures The managerial information presented for 1Q25, 4Q24, 3Q24, 2Q24 and 1Q24 is not derived directly from accounting records as it is an estimate of non -restated figures excluding the impact of IAS 29 effective January 1, 2020. This information is only provided for comparative purposes with figures disclosed in previous years before the adoption of rule IAS 29. 1Q25 Earnings Videoconference Information Date: Wednesday, May 28, 2025 Time: 10:00 AM ET (11:00 AM Buenos Aires Time) Register in advance for this webinar: https://us06web.zoom.us/webinar/register/WN_JDKkbVqSQ_S66N6zmqRQLw Income Statement - Non-restated Figures 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ YoY Argentine Banking GAAP: Interest income 290.674,6 276.660,9 277.155,1 265.355,7 425.548,8 5,1% -31,7% Interest expenses -146.717,0 (145.145,1) (144.311,8) (146.465,8) (242.046,9) 1,1% -39,4% Net interest income 143.957,6 131.515,8 132.843,3 118.889,8 183.501,8 9,5% -21,5% Net income from financial instruments at fair value through profit or loss 26.352,6 39.330,0 18.324,7 32.496,0 69.911,6 -33,0% -62,3% Exchange rate differences on gold and foreign currency (6,6) 389,6 3.504,6 2.192,7 1.378,4 -101,7% -100,5% NIFFI & Exchange Rate Differences 26.346,0 39.719,5 21.829,3 34.688,7 71.290,0 -33,7% -63,0% Net Financial Income 170.303,6 171.235,3 154.672,6 153.578,5 254.791,9 -0,5% -33,2% Fee income 55.643,4 51.246,2 49.707,7 36.004,3 26.190,6 8,6% 112,5% Fee expenses (11.707,1) (10.437,9) (10.101,6) (8.587,7) (6.050,5) 12,2% 93,5% Income from insurance activities 7.399,8 7.823,4 3.796,4 4.379,3 2.936,2 -5,4% 152,0% Net Service Fee Income 51.336,0 48.631,7 43.402,5 31.796,0 23.076,2 5,6% 122,5% Other operating income 14.826,2 59.951,6 88.403,8 46.272,4 6.416,6 -75,3% 131,1% Loan loss provisions (30.860,5) (15.579,3) (10.039,5) (11.304,8) (7.321,6) 98,1% 321,5% Net Operating Income 205.605,3 264.239,3 276.439,4 220.342,0 276.963,1 -22,2% -25,8% Personnel expenses (65.648,2) (66.182,7) (64.797,6) (56.938,9) (52.647,9) -0,8% 24,7% Administrative expenses (40.109,5) (48.767,7) (37.987,3) (33.651,2) (25.803,2) -17,8% 55,4% Depreciation & Amortization (5.507,2) (4.966,5) (3.453,1) (2.925,7) (2.116,2) 10,9% 160,2% Turnover Tax (21.629,0) (18.823,0) (12.771,1) (16.542,4) (16.934,2) 14,9% 27,7% Other expenses (11.076,6) (10.531,0) (18.509,4) (20.292,3) (30.465,8) 5,2% - Profit before income tax 61.634,9 114.968,5 138.920,9 89.991,4 148.995,7 -46,4% -19,5% Joint venture results - - - - - Income tax expense 3.935,0 (10.963,5) 5.549,5 (2.896,7) 7.449,1 -135,9% - Net income 65.569,9 104.005,0 144.470,4 87.094,7 156.444,8 -37,0% -58,1% Attributable to owners of the parent company 64.907,4 103.915,2 144.417,2 87.060,1 156.304,0 -37,5% -58,5% Attributable to non-controlling interests 662,5 89,8 53,2 34,5 140,8 638,2% 370,6% Other comprehensive income, net of tax (1.645,2) 22.448,6 2.526,7 714,6 (4.104,7) na na Comprehensive income 63.924,7 126.453,6 146.997,1 87.809,2 152.340,2 -49,4% -58,0% Attributable to owners of the parent company 63.264,3 126.342,3 146.943,2 87.776,6 152.204,4 -49,9% -58,4% Attributable to non-controlling interests 660,4 111,3 53,9 32,7 135,7 493,4% 386,5% % Change
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13 Overview In recent years, Argentina has faced significant macroeconomic and regulatory challenges, including minimum interest rates for time deposits, caps on interest rates for certain loans, and restrictions in the foreign exchange market. However, in 2024, the Central Bank of Argentina (BCRA) rolled back several of these measures, including the minimum interest rate on time deposits and rate caps on financing lines for SMEs and credit cards. As a result, while credit penetration remains low, signs of recovery are becoming evident. As of March 31, 2025, the ratio of private sector loans and deposits in pesos to GDP stood at 11.4% and 18.5%, respectively, compared to 10.5% and 19.3%, respectively, as of December 31, 2024. Economic activity grew by 1.5% in 1Q25 based on seasonally adjusted data, and by 6.1% YoY. However, at the margin, activity declined by 1.8% in March on a monthly basis reflecting uncertainty surrounding the potential shift in the exchange rate regime, which ultimately materialized in mid-April. In this context, credit activity continued to show signs of recovery during the first quarter of 2025, albeit at a slower pace than in previous quarters. Peso-denominated loans to the private sector grew by 8.8% in real terms in the first quarter, driven b y the dynamism of personal loans and corporate overdrafts. Meanwhile, peso - denominated private sector deposits remained relatively stable in real terms, while U.S. dollar deposits declined slightly following a significant increase in 2024 as a result of the tax amnesty program. Inflation accelerated month-over-month during the first quarter of the year, rising from 2.2% in January to 2.4% in February, and reaching 3.7% in March. However, following the implementation of a new foreign exchange regime under a new agreement with the IMF, monthly inflation moderated to 2.8% in April.In April 2025, the government reached a landmark agreement with the IMF, securing new disbursements totaling US$23.1 billion for the year. This significantly strengthened international reserves, which reached US$38.176 billion as of May 21, 2025. The agreement also introduced a new exchange rate regime with floating bands and eliminated the “blend dollar” mechanism, contributing to a more predictable foreign exchange environment. Finally, the government achieved a fiscal surplus in the first four months of the year, both in primary and financial terms, reaffirming its commitment to a monetary program based on aggregate targets aimed at stabilizing the economy. According to the Central Bank’s Market Expectations Survey (REM), GDP is expected to grow by 5.1% in 2025, with inflation projected to decelerate sharply to 31.8% year-over-year by December. Review of consolidated results Profitability & Comprehensive Income Grupo Supervielle offers a wide range of financial and non-financial services and has over 135 years of experience operating in Argentina. The Company is committed to providing agile solutions to its clients while effectively adapting to evolving industry dynamics . Grupo Supervielle operates multiple platforms and brands and has developed a diverse ecosystem tailored to the needs of its target clients. Since May 2016, Grupo Supervielle ’s shares have been listed on the ByMA and NYSE. The Company operates through the following subsidiaries : i) Banco Supervielle, the sixth largest private bank in Argentina by loan portfolio size; ii) Supervielle Seguros, an insurance company; iii) Supervielle Productores Asesores de Seguros, an insurance broker; iv) Supervielle Asset Management, a mutual fund management company; v) Supervielle Agente de Negociación, a brokerage firm offering services to institutional and corporate customers ; vi) IOL, the leading online retail broker; vii) Portal Integral de Inversiones, a platform providing online financial investment products; viii) Espacio Cordial, a provider of retail non-financial products; and ix) MILA, a specialized company providing car loan financial products. Sofital, a holding company that owns shares in Grupo Supervielle’s subsidiaries, is also part of the Group.
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14 * Income from insurance activities for 1Q24, 2Q24 and 3Q24 were restated to reflect the implementation of IFRS 17. Net financial income Net Financial Income includes Net Interest Income -NII-, Net Income from Financial Instruments -NIFFI-, and Exchange Rate Differences on Gold and Foreign Currency Net Financial Income totaled AR$175.4 billion in 1Q25, declining 62.4% YoY and 12.4% QoQ. The QoQ decrease was mainly driven by a 46.6%, or AR$43.3 billion, reduction in Market-related Net Financial Income, reflecting lower yields on government securities amid uncertainty prior to the agreement reached with the IMF in April. In contrast, Client Net Financial Income rose 17.2%, AR$18.5 billion, supported by higher spreads and increased loan volumes. The YoY performance reflects an 86.1% , or AR307.0 billion, decline in the Market -related Net Financial Income as 1Q24 had benefited from an extraordinarily high return on government securities together with soft performance of the investment portfolio in 1Q25, while Client Net Financial Income increased 15.0%, or Income Statement (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ YoY Consolidated Income Statement Data IFRS: Interest income 299.900,3 317.853,3 336.605,5 422.522,7 757.007,2 -5,6% -60,4% Interest expenses -151.530,3 -161.988,1 -175.116,9 -202.795,1 -424.208,4 -6,5% -64,3% Net interest income 148.370,0 155.865,2 161.488,6 219.727,6 332.798,9 -4,8% -55,4% Net income from financial instruments at fair value through profit or loss 23.162,6 39.942,2 25.798,1 39.702,7 47.709,3 -42,0% -51,5% Result from recognition of assets measured at amortized cost 3.933,2 3.961,3 -2.803,6 4.836,0 83.102,0 na na Exchange rate difference on gold and foreign currency -43,1 466,4 4.263,9 3.009,4 2.327,0 -109,2% na NIFFI & Exchange Rate Differences 27.052,8 44.369,9 27.258,4 47.548,0 133.138,3 -39,0% -79,7% Net Financial Income 175.422,7 200.235,2 188.747,0 267.275,6 465.937,2 -12,4% -62,4% Fee income 57.541,4 57.106,2 60.351,1 49.356,0 45.660,5 0,8% 26,0% Fee expenses -12.084,5 -11.634,4 -12.291,7 -11.750,1 -10.553,1 3,9% 14,5% Income from insurance activities* 8.459,5 8.514,6 6.806,3 6.052,1 5.763,6 -0,6% 46,8% Net Service Fee Income 53.916,4 53.986,5 54.865,6 43.658,0 40.871,0 -0,1% 31,9% Subtotal 229.339,1 254.221,6 243.612,6 310.933,6 506.808,1 -9,8% -54,7% Result from exposure to changes in the purchasing power of the currency -41.871,5 -37.893,9 -53.344,1 -77.524,6 -165.130,8 10,5% -74,6% Other operating income 11.934,3 10.455,1 11.987,5 9.416,4 10.518,2 14,1% 13,5% Loan loss provisions -31.820,4 -17.589,2 -12.069,0 -15.365,6 -12.432,9 80,9% 155,9% Net Operating Income 167.581,4 209.193,7 190.187,1 227.459,8 339.762,7 -19,9% -50,7% Personnel expenses -67.962,4 -72.763,2 -78.405,8 -77.110,2 -90.181,1 -6,6% -24,6% Administration expenses -41.368,0 -53.450,2 -46.277,8 -45.604,8 -43.932,6 -22,6% -5,8% Depreciations and impairment of assets -14.270,3 -14.748,2 -14.418,6 -13.967,4 -13.956,0 -3,2% 2,3% Turnover tax -22.435,0 -21.338,2 -15.550,7 -22.955,2 -29.622,8 5,1% -24,3% Other operating expenses -11.361,1 -22.320,2 -22.973,8 -27.199,4 -49.177,9 -49,1% -76,9% Profit (Loss) before income tax 10.184,6 24.573,7 12.560,4 40.622,8 112.892,3 -58,6% -91,0% Income tax -1.631,6 6.043,8 -2.166,9 -18.156,1 -40.356,3 - - Net income (loss) for the year 8.552,9 30.617,5 10.393,5 22.466,7 72.536,0 -72,1% na Net income (Loss) for the year attributable to parent company 7.937,8 30.599,2 10.395,5 22.454,3 72.459,7 -74,1% -89,0% Net income (Loss) for the year attributable to non-controlling interest 615,2 18,3 -2,0 12,4 76,3 na na ROAE 3,5% 13,9% 4,8% 10,4% 33,9% ROAA 0,6% 2,6% 1,0% 2,3% 7,4% % Change 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ YoY Other Comprehensive Income (Loss), net of tax -1.754,9 -1.706,7 1.598,5 -2.645,4 -9.328,2 2,8% -81,2% Comprehensive Income (Loss) 6.182,9 28.892,5 11.994,0 19.808,9 63.131,6 -78,6% -90,2% Net Financial Income (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ YoY Client Net Financial Income 125.737,2 107.242,0 82.801,2 106.202,5 109.300,3 17,2% 15,0% Market related Net Financial Income 49.685,5 92.993,2 105.945,8 161.073,0 356.636,9 -46,6% -86,1% Net Financial Income 175.422,7 200.235,2 188.747,0 267.275,6 465.937,2 -12,4% -62,4% Result from exposure to changes in the purchasing power of the currency -41.871,5 -37.893,9 -53.344,1 -77.524,6 -165.130,8 10,5% -74,6% Adjusted Net Financial Income 133.551,2 162.341,3 135.402,9 189.751,0 300.806,4 -17,7% -55,6% % Change
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15 AR$16.4 billion, as the Company continued shifting toward a more loan -centric balance sheet and growing exposure to the private-sector. The QoQ performance reflects a 29.5%, or AR$46.0 billion, decrease in market-related income, driven by lower yields reflecting the sharp correction in treasury bonds prices amid uncertainty in the quarter before Argentina reached the agreement with the IMF, partially offset by a slight increase in investment portfolio volumes. This was partially offset by a 5.2%, or AR$10.8 billion, increase in interest income from loans, mainly due to 14.0% growth in loan volumes, despite a 308 -basis point decline in the average loan yield. In addition, interest expenses decreased by 6.5%, or AR$10.5 billion, reflecting a 748-basis point decline in interest paid on AR$-denominated liabilities, even as their average balance rose by 14.3%. Interest-bearing US$ liabilities increased by 22.6%. The YoY performance is explained by the following declines: i) 83.2%, or AR$543.0 billion, in market related income, reflecting lower volumes and yields on the investment portfolio as the balance sheet transitioned to a higher proportion of loans. Moreover, 1Q24 benefited from unusually high financial income from the investment portfolio; and (ii) 8.4%, or AR$19 .8 billion, in client interest income, driven by a 6,328 -bps decline in the average loan portfolio interest rate, following lower rate environment, despite a 149.7% YoY increase in loan volumes. This was partially offset by a 64.3%, or AR$272.7 billion, decrease in interest expenses resulting from a 5,218-bps decline in AR$ cost of funds while AR$ interest-bearing liabilities increased by 7.0%. Adjusted Net Financial Income (Net Financial Income + Result from exposure to inflation) totaled AR$133.6 billion in 1Q25, decreasing 55.6% YoY, and 17.7% QoQ. As of March 31, 2025, the book value of Securities classified as Held to Maturity stood at AR$976.2 billion, while the fair value of these securities was AR$903.0 billion (-AR$73.2 billion). The Table below provides Net Financial Income broken down by Client Interest Income, Market related Income, and Interest Expenses: 1. Includes the yield on dual bonds holdings. The dual bond is a government security denominated in US$ but hedging against inflation and FX depreciation. This government bond accrues the highest yield between Inflation adjusted bonds (CER) and FX depreciation. The following tables provide a breakdown of increases and decreases in 1Q25 in Net Financial Margin broken down by volume and rate. (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) The table below provide s further details on the yields of the AR$ Investment Portfolio , categorized by the classification of each security. For Securities classified as Held to maturity, Interest income is recognized in the Net Interest Margin. For securities classified as Available for sale, Interest income is also recognized within Net Interest Margin, while changes in fair value are recognized in Other Comprehensive Income. For securities classified as Held for Trading, changes in fair value are recognized in Net Income from financial instruments. Net Financial Income broken down by product before interest expenses (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ YoY Yield on Loan Portfolio (Client Interest Income) 217.152,3 206.368,9 173.978,8 183.736,7 236.957,8 5,2% -8,4% Yield on Investment Portfolio (Market related income) 109.795,6 155.815,2 189.866,4 286.188,1 652.778,4 -29,5% -83,2% AR$ Securities 99.567,0 138.877,8 175.868,4 271.220,2 638.631,6 -28,3% -84,4% US$ Securities1 10.228,6 16.937,4 13.998,0 14.967,9 14.146,8 -39,6% -27,7% Interest Expenses -151.525,2 -161.948,9 -175.098,2 -202.649,2 -423.799,0 -6,4% -64,2% Net Financial Income 175.422,7 200.235,2 188.747,0 267.275,6 465.937,2 -12,4% -62,4% % Change AR$ million Assets Volume Rate Net Change Investment Portfolio 12.031 (51.585) (46.020) Government & Corporate Securities 13.080 (51.702) (38.622) Central Bank instruments (1.049) 118 (931) Fx differences (6.466) Loan portfolio 25.508 (14.724) 10.783 AR$ 24.669 (14.825) 9.844 US$ 839 101 939 Total Interest‑Earning Assets 37.539 -66.309 -35.236 Liabilities Deposits 14.806 (30.645) (15.839) AR$ 14.691 (30.970) (16.278) US$ 114 325 439 Other liabilities 5.100 (1.787) 3.313 Other results (2.102) Total Interest‑Bearing Liabilities 19.906 -32.432 -10.424 Increase (Decrease) Due to Changes in
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16 In 1Q25, total yield from the AR$ investment portfolio amounted to AR$ 99.4 billion, declining 84.4% YoY and 28.4% QoQ. The sequential performance reflects a 27.9%, or AR$38.4 billion, decrease in income from AR$ government securities, driven by a 2,010 bps decline in their average yield partially offset by a 14.8% increase in average volumes. On a YoY basis, the decline was largely attributable to a AR$369.9 billion reduction in income from Repo transactions, and a 63.0%, or AR$ 169.3 billion, decline in gains from government securities. This was mainly driven by a 20,570 bps decline in average yields, despite a 156.2% increase in average balances. The Tables below provide further information on Interest-Earning Assets and Interest-Bearing Liabilities. (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 1. 1Q25, 4Q24, 3Q24, 2Q24 and 1Q24 include AR$16.5 billion, AR$12.2 billion, AR$12.4 billion, AR$10.1 billion and AR$8.8 billion, respectively, of US$ loans, mainly credit cards with US$ balances. Yield on AR$ Investment Portfolio (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ YoY NIFFI 22.160,9 32.360,3 16.996,4 35.860,0 124.528,9 -31,5% -82,2% AR$ Government Securities 22.160,9 32.360,3 16.996,4 35.860,0 124.528,9 -31,5% -82,2% Interest Income 77.256,4 106.517,5 158.872,0 235.360,2 514.102,7 -27,5% -85,0% AR$ Government Securities 77.129,7 105.309,6 156.360,4 136.570,5 144.019,3 -26,8% -46,4% Securities issued by the Central Bank and Repo transactions 126,7 1.207,8 2.511,6 98.789,7 370.083,5 -89,5% -100,0% Yield from AR$ Operations 99.417,2 138.877,8 175.868,4 271.220,2 638.631,6 -28,4% -84,4% % Chg. Interest Earning Assets Avg. Balance Avg. Rate Avg. Balance Avg. Rate Avg. Balance Avg. Rate Avg. Balance Avg. Rate Avg. Balance Avg. Rate Investment Portfolio Government and Corporate Securities 1,282,940.6 33.6% 1,128,447.5 51.9% 1,353,679.5 52.4% 1,078,154.4 66.9% 518,022.1 213.2% Securities Issued by the Central Bank 1,060.1 56.5% 1,290.1 0.0% 1,576.0 0.0% 1,948.0 0.0% 19,015.4 107.8% Total Investment Portfolio 1,284,000.7 33.7% 1,129,737.6 51.9% 1,355,255.5 52.3% 1,080,102.4 66.8% 537,037.5 209.4% Loans Loans to the Financial Sector 9,080.5 38.0% 10,716.7 45.9% 13,622.3 38.4% 7,901.0 45.3% 3,370.5 59.7% Overdrafts 116,101.2 46.1% 157,288.9 51.8% 177,014.3 47.4% 163,272.0 58.1% 103,625.1 97.6% Promissory Notes 265,241.1 40.2% 236,623.3 42.8% 207,004.9 37.0% 164,195.4 54.4% 148,364.8 92.1% Corporate Unsecured Loans 343,015.8 39.5% 304,888.6 43.4% 341,837.7 44.1% 213,452.5 69.9% 190,770.7 118.6% Receivables from Financial Leases 97,137.4 37.2% 108,511.5 32.0% 97,830.3 31.1% 32,474.2 75.8% 36,480.2 80.5% Mortgage loans 289,762.7 33.9% 255,659.5 44.5% 170,724.5 54.9% 140,249.3 118.5% 122,136.0 213.0% Automobile and Other Secured Loans 221,112.0 55.5% 180,882.7 58.2% 118,200.7 59.6% 54,571.3 79.3% 32,394.4 87.3% Personal Loans 358,054.8 64.9% 257,685.8 70.2% 172,550.0 74.1% 113,939.9 88.7% 94,525.0 104.7% Credit Card 289,437.1 20.7% 242,666.7 22.4% 189,902.7 24.4% 149,101.4 36.3% 134,124.5 44.4% Total Loans excl. Foreign trade and US$ loans1 1,988,942.5 42.6% 1,754,923.8 46.1% 1,488,687.3 46.0% 1,039,156.9 69.9% 865,791.2 108.8% Foreign Trade Loans & US$ loans 378,280.7 5.4% 320,692.0 5.2% 181,356.4 5.8% 160,194.7 5.5% 82,328.0 6.6% Total Loans 2,367,223.3 36.7% 2,075,615.8 39.8% 1,670,043.8 41.7% 1,199,351.7 61.3% 948,119.2 100.0% Repo Transaction 1,415.9 35.8% 12,774.8 37.8% 25,792.7 39.0% 667,089.3 59.3% 1,529,781.4 95.5% Total Interest‑Earning Assets 3,652,639.9 35.6% 3,218,128.1 44.0% 3,051,092.0 46.4% 2,946,543.4 62.9% 3,014,938.1 117.2% 1Q25 4Q24 3Q24 2Q24 1Q24 Interest-Bearing Liabilities & Low & Non-Interest -Bearing Deposits Avg. Balance Avg. Rate Avg. Balance Avg. Rate Avg. Balance Avg. Rate Avg. Balance Avg. Rate Avg. Balance Avg. Rate Time Deposits 1.090.427,8 27,8% 917.253,3 35,0% 904.632,1 36,2% 854.846,7 58,1% 958.324,9 94,4% AR$ Time Deposits 958.291,6 31,4% 790.375,4 40,3% 800.456,4 40,6% 827.188,8 60,0% 930.889,1 97,2% FX Time Deposits 132.136,2 2,1% 126.877,9 1,9% 104.175,7 2,1% 27.657,9 0,9% 27.435,8 0,3% Special Checking Accounts 1.217.059,6 19,6% 1.172.489,4 24,2% 1.214.778,2 28,0% 948.742,5 31,8% 1.059.032,2 72,2% AR$ Special Checking Accounts 876.864,6 26,6% 854.305,9 32,8% 951.615,5 35,3% 741.090,2 40,4% 864.381,6 88,4% FX Special Checking Accounts 340.195,1 1,5% 318.183,5 1,2% 263.162,7 1,4% 207.652,4 1,2% 194.650,7 0,3% Borrowings from Other Fin. Inst. & Medium-Term Notes 220.057,1 16,1% 85.386,9 26,1% 38.429,9 45,8% 23.612,8 28,8% 8.832,0 179,5% Total Interest‑Bearing Liabilities 2.527.544,5 22,9% 2.175.129,7 28,8% 2.157.840,2 31,7% 1.827.202,1 44,1% 2.026.189,1 83,2% Low & Non-Interest-Bearing Deposits Savings Accounts 564.332,4 0,3% 515.608,5 0,4% 438.098,8 0,6% 383.208,4 1,4% 402.662,1 2,1% AR$ Savings Accounts 281.857,5 0,6% 264.982,5 0,8% 254.167,9 1,0% 215.188,1 2,4% 213.119,0 3,9% FX Savings Accounts 282.474,9 0,0% 250.626,0 0,0% 183.930,9 0,0% 168.020,4 0,0% 189.543,1 0,0% Checking Accounts 373.555,2 371.785,1 332.357,0 292.459,8 289.634,3 AR$ Checking Accounts 363.623,6 356.118,1 316.072,2 275.250,0 269.024,7 FX Checking Accounts 9.931,7 15.667,0 16.284,8 17.209,8 20.609,6 Total Low & Non-Interest-Bearing Deposits 937.887,6 887.393,6 770.455,8 675.668,3 692.296,4 Total Interest‑Bearing Liabilities & Low & Non-Interest-Bearing Deposits 3.465.432,1 16,7% 3.062.523,3 20,6% 2.928.296,0 23,5% 2.502.870,3 32,4% 2.718.485,5 62,3% AR$ 2.572.574,2 22,0% 2.306.509,9 26,9% 2.344.601,1 29,0% 2.064.999,7 39,0% 2.283.228,7 74,1% FX 892.858,0 1,6% 756.013,3 1,2% 583.695,0 1,2% 437.870,7 1,0% 435.256,8 0,2% 1Q25 2Q243Q244Q24 1Q24
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17 The following tables provide a breakdown of Interest-Bearing Liabilities by currency. (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) The yield on interest-earning assets includes interest income on loans, as well as returns from the Company’s AR$ and U.S. dollar-denominated investment portfolio s. The yield on interest -bearing liabilities includes interest expenses but excludes FX differences, net gains or losses from currency derivatives , and the adjustment to FX fluctuation of FX liabilities. The 1Q25 yield on interest-bearing liabilities, as shown in this table, does not reflect the negative impact from the 25.2% YoY increase in the FX rate as of March 31, 2025. The full impact is captured instead in the “Exchange Rate Differences on Gold and Foreign Currency” line item of the income statement. The AR$ cost of funds decreased by 495 bps in the quarter, reflecting the repricing of time deposits and special checking accounts following interest rate cuts by the Central Bank, alongside a 3.9% increase in AR$ non-interest- bearing liabilities. This was partially offset by a 14.3% increase in the volume of AR$ interest-bearing liabilities. The US$ cost of funds increased by 40 bps to 1.6% in 1Q25, from 1.2% in 4Q24. Net Interest Income totaled AR$148.4 billion, compared to AR$ 332.8 billion in 1Q24 and AR$155.9 billion in 4Q24. This line-item reflects interest earned on loans, market -related income from government securities at amortized cost, and interest expenses, but excludes results from the investment portfolio held for trading purposes, which are reported under Net Financial Income (NIFFI). For a more comprehensive view of the drivers behind Net Interest Income , please refer to the Net Financial Income section, wh ich includes a comprehensive breakdown of loan and investment portfolio yields, as well as total interest expenses. AR$ Liabilities. Avg. Balance (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) Avg. Balance Avg. Rate Avg. Balance Avg. Rate Avg. Balance Avg. Rate Interest‑Bearing Liabilities Time Deposits 958.291,6 31,4% 790.375,4 40,3% 930.889,1 97,2% Special Checking Accounts 876.864,6 26,6% 854.305,9 32,8% 864.381,6 88,4% Borrowings from Other Fin. Inst. & Medium Term-Notes 91.936,9 31,6% 40.728,0 48,3% 5.814,3 268,6% Total Interest‑Bearing Liabilities 1.927.093,0 29,2% 1.685.409,4 36,7% 1.801.085,0 93,5% Low & Non-Interest-Bearing Deposits Savings Accounts 281.857,5 264.982,5 213.119,0 Checking Accounts 363.623,6 356.118,1 269.024,7 Total Low & Non-Interest-Bearing Deposits 645.481,1 621.100,6 482.143,7 Total Interest‑Bearing Liabilities & Low & Non-Interest-Bearing Deposits 2.572.574,2 22,0% 2.306.509,9 26,9% 2.283.228,7 74,1% 4Q24 1Q241Q25 US$ Liabilities. Average Balance (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) Avg. Balance Avg. Rate Avg. Balance Avg. Rate Avg. Balance Avg. Rate Interest‑Bearing-Liabilities Time Deposits 132.136 2,1% 126.878 1,9% 27.436 0,3% Special Checking Accounts 340.195 1,5% 318.184 1,2% 194.651 0,3% Borrowings from Other Fin. Inst. & Medium Term Notes 128.120 5,0% 44.659 5,9% 3.018 7,7% Subordinated Loans and Negotiable Obligations - 0,0% - 0,0% - 0,0% Total Interest‑Bearing-Liabilities 600.451 2,4% 489.720 1,8% 225.104 0,4% Low & Non-Interest-Bearing Deposits Savings Accounts 282.475 250.626 189.543 Checking Accounts 9.932 15.667 20.610 Total Low & Non-Interest-Bearing Deposits 292.407 266.293 210.153 Total Interest‑Bearing Liabilities & Low & Non-Interest-Bearing Deposits 892.858 1,6% 756.013 1,2% 435.257 0,2% 1Q25 4Q24 1Q24
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18 Interest income decreased 60.4% YoY to AR$299.9 billion in 1Q25, and 5.6% QoQ. 1. Other includes interest income from securities issued by the Central Bank and from Repo Transactions, and results from other securities recorded as available for sale. Interest expenses decreased 64.3% YoY and 6.5% QoQ, to AR$151.5 billion in 1Q25. (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) Net Income from financial instruments and Exchange rate differences totaled AR$27.1 billion in 1Q25, compared to AR$133.1 billion in 1Q24 and AR$44.4 billion in 4Q24. The QoQ decline was driven by lower yields on reduced volumes on AR$ and US$ government reflecting the decline in prices amid the uncertainty in the weeks prior to the agreement reached with the IMF in April . The YoY variation reflects the yields on AR$ and US$ government securities held for trading in 1Q24, along with higher results from the recognition of assets measured at amortized cost in the prior-year period. For more information about Securities classification, see Appendix I. Total income from US$ denominated operations and securities amounted to AR$7.8 billion this quarter compared to AR$12.3 billion in 1Q24 and AR$15.3 billion in 4Q24. The QoQ decline was driven by lower results from US$ government and corporate securities, reflecting lower yields despite slightly higher volumes of US$ securities. The YoY comparison reflects unusually high financial income from the investment portfolio in 1Q24. Interest Income (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ YoY Interest on/from: - Cash and Due from banks 5,1 39,2 19,2 0,8 8,9 -86,9% -42,5% - Loans to the financial sector 862,5 1.229,6 1.309,4 895,1 502,8 -29,9% 71,5% - Overdrafts 13.392,6 20.381,8 20.988,3 23.706,8 25.281,0 -34,3% -47,0% - Promissory notes 26.645,0 25.333,5 19.173,8 22.334,3 34.165,9 5,2% -22,0% - Corporate unsecured loans 33.844,9 33.059,8 37.688,8 37.291,9 56.562,0 2,4% -40,2% - Leases 9.044,0 8.674,0 7.603,5 6.153,8 7.338,0 4,3% 23,2% - Mortgage loans 24.534,7 28.440,6 23.412,8 41.532,6 65.035,0 -13,7% -62,3% - Automobile and other secured loans 30.706,3 26.297,4 17.605,3 10.813,1 7.067,3 16,8% 334,5% - Personal loans 58.084,6 45.200,3 31.960,5 25.256,9 24.741,5 28,5% 134,8% - Credit cards loans 14.943,5 13.565,2 11.587,2 13.541,5 14.897,8 10,2% 0,3% - Foreign trade loans & US loans 5.094,2 4.186,6 2.649,1 2.210,7 1.366,6 21,7% 272,8% - Other (1) 82.742,8 111.445,3 162.607,5 238.785,2 520.040,5 -25,8% -84,1% Total 299.900,3 317.853,3 336.605,5 422.522,7 757.007,2 -5,6% -60,4% % Change Interest Expenses 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ YoY Interest on: - Checking and Savings Accounts 449,6 529,3 635,8 1.300,6 2.076,3 -15,1% -78,3% - Special Checking Accounts 59.729,5 71.056,9 84.947,7 75.456,7 191.149,1 -15,9% -68,8% - Time Deposits 75.800,3 80.232,4 81.782,2 124.074,4 226.227,3 -5,5% -66,5% - Other Liabilities from Financial Transactions 8.204,9 4.854,6 4.256,1 989,8 3.202,6 69,0% 156,2% - Financing from the Financial Sector 678,9 715,9 143,3 711,5 760,4 -5,2% -10,7% - Other 6.667,1 4.599,0 3.351,9 262,2 792,7 45,0% 741,1% Total 151.530,3 161.988,1 175.116,9 202.795,1 424.208,4 -6,5% -64,3% % Change NIFFI & Exchange rate differences on gold and foreign currency (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ YoY Income from: - Government and corporate securities 23.596,1 38.339,8 22.815,1 38.595,2 45.428,2 -38,5% -48,1% - Term Operations -433,5 1.602,4 2.983,0 1.107,5 2.281,1 -127,1% -119,0% Subtotal 23.162,6 39.942,2 25.798,1 39.702,7 47.709,3 -42,0% -51,5% Result from recognition of assets measured at amortized cost 3.933,2 3.961,3 -2.803,6 4.836,0 83.102,0 -0,7% - Exchange rate differences on gold and foreign currency -43,1 466,4 4.263,9 3.009,4 2.327,0 -109,2% na Total 27.052,8 44.369,9 27.258,4 47.548,0 133.138,3 -39,0% -79,7% % Change
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19 1. Includes Gains on Trading from FX Operations with retail, corporate and institutional customers, and Exchange rate differences on gold and foreign currency. 2. Includes the yield on dual bonds. The dual bond is a government security denominated in US$ which provides a hedge against inflation and FX depreciation. This government bond accrues the highest yield between inflation adjusted bonds (CER) and FX depreciation. 3. US$ and US$ linked Government Securities held for Trading. Net Interest Margin (NIM) declined to 19.2% in 1Q25 from 24. 9% in 4Q24. Margins from client lending remained resilient, with loan portfolio NIM improving to 21.2% from 20.7% in 4Q24, reflecting higher spreads and underscoring the strength of our core banking operations. By contrast, Investment Portfolio NIM declined to 17.7% from 33.6%, reflecting a sharp correction in treasury bond yields amid the uncertainty before Argentina reached an agreement with the IMF. The YoY comparison reflects the normalization of extraordinary factors that drove the unusually high 61.8% NIM in 1Q24, including gains from the sale of government securities previously recorded at amortized cost, elevated AR$ spreads on government securities and loans, and a decline in funding costs following the removal of deposit rate floors in that quarter. The tables below provide further details on NIM breakdown for the Loan and Investment portfolios, as well as summary information on average Assets and Liabilities, interest rates on assets and liabilities, and market rates. Yield on US$ / US$ linked denominated operations and Securities % Chg. (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ Financial Income from US$ Operations 7,864.7 14,787.9 2,605.9 7,727.3 9,977.4 NA NIFFI 2,378.3 9,860.1 -1,130.1 4,447.4 4,440.1 NA US$ Government & Corporate Securities3 2,811.8 8,257.7 -4,113.1 3,339.9 2,159.0 na Term Operations -433.5 1,602.4 2,983.0 1,107.5 2,281.1 -127.1% Interest Income 5,486.4 4,927.8 3,736.0 3,279.9 5,537.3 11.3% US$ / US$ linked Government Securities2 5,486.4 4,927.8 3,736.0 3,279.9 5,537.3 11.3% Exchange rate differences on gold and foreign currency1 -43.1 466.4 4,263.9 3,009.4 2,327.0 -109.2% Total Income from US$ Operations 7,821.6 15,254.3 6,869.8 10,736.7 12,304.4 -48.7% NIM Analysis 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ (bps) YoY (bps) AR$ NIM 20,8% 26,1% 24,9% 37,2% 63,4% (533) (4.260) AR$ Loan Portfolio 25,0% 24,0% 22,0% 40,7% 50,4% 100 (2.542) AR$ Investment Portfolio 16,0% 31,7% 29,4% 38,9% 180,1% (1.570) (16.412) Total NIM 19,2% 24,9% 24,7% 36,3% 61,8% (568) (4.261) Loan Portfolio 21,2% 20,7% 19,8% 35,4% 46,1% 58 (2.487) Investment Portfolio 17,7% 33,6% 29,8% 40,0% 160,2% (1.595) (14.254) Average Assets 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ (bps) YoY (bps) Total Interest Earning Assets (IEA) 100,0% 100,0% 100,0% 100,0% 100,0% AR$ (as % of IEA) 86,1% 86,2% 91,5% 91,6% 94,3% (14) (824) US$ (as % of IEA) 13,9% 13,8% 8,5% 8,4% 5,7% 14 824 Loan Portfolio (as % of IEA) 64,8% 64,5% 54,7% 40,7% 31,4% 31 3.336 AR$ (as % of Loan Portfolio) 83,3% 84,0% 88,4% 85,8% 90,4% (64) (706) US$ (as % of Loan Portfolio) 16,7% 16,0% 11,6% 14,2% 9,6% 64 706 Investment Portfolio (as % of IEA) 35,2% 35,5% 45,3% 59,3% 68,6% (31) (3.336) AR$ (as % of Investment Portfolio) 91,2% 90,3% 95,4% 95,6% 96,1% 84 (496) US$ (as % of Investment Portfolio) 8,8% 9,7% 4,6% 4,4% 3,9% (84) 496 Average Liabilities 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ (bps) YoY (bps) Total Interest Bearing Deposits & Low & Non- Interest Bearing Deposits 100,0% 100,0% 100,0% 100,0% 100,0% AR$ 74,2% 75,3% 80,1% 82,5% 84,0% (108) (975) US$ 25,8% 24,7% 19,9% 17,5% 16,0% 108 975 Total Interest‑Bearing Liabilities 72,9% 71,0% 73,7% 73,0% 74,5% 191 (160) AR$ 76,2% 77,5% 82,2% 86,2% 88,9% (124) (1.265) US$ 23,8% 22,5% 17,8% 13,8% 11,1% 124 1.265 Low & Non Interest Bearing Deposits 27,1% 29,0% 26,3% 27,0% 25,5% (191) 160 AR$ 82,0% 79,5% 87,4% 89,5% 87,2% 253 (518) US$ 18,0% 20,5% 12,6% 10,5% 12,8% (253) 518
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20 Cost of risk & Asset quality Loan loss provisions (LLP s) totaled AR$31.8 billion in 1Q25, up 155.9% YoY and 80.9% QoQ. The YoY and QoQ increases reflect loan growth and a shift in the loan portfolio mix towards retail lending, driven by 12.8% and 196.3% growth in this segment, respectively, which entails higher provisioning than commercial loans. Moreover, QoQ performance was also impacted by provision releases recorded in 4Q24, following an update to the credit loss model that incorporated a more favorable macroeconomic outlook. Net loan loss provisions, defined as LLPs net of recovered charged-off loans and reversed allowances, amounted to AR$30.9 billion in 1Q25, compared to AR$13.1 billion in 1Q24 and AR$14.2 billion in 4Q24. The table below provides a detailed breakdown of loan loss provisions by customer segment: * Other includes allowances reversed in Other Income line item, and provision for unused balances of overdrafts and credit cards in Other Expenses line item of the Income Statement The most significant variables used to estimate the Expected Credit Loss (ECL) in 2025 are presented below: Parameter Segment Macroeconomic Variable Probability of Default Personal & Business Segment Inflation Economic Activity Fx Corporate Banking Inflation Interest Rate (Badlar) Argentine Banks have provisioned Financial Assets Impairment under paragraph 5.5 of IFRS 9 since the fiscal year starting January 1, 2020. Additionally, since 2020 the Central Bank of Argentina has established a temporary exclusion from the IFRS impairment model for Argentine government-issued debt securities. Cost of Risk increased to 5.0% in 1Q25, from 4.1% in 1Q24 and 2.5% in 4Q24. Net cost of risk, which represents loan loss provisions net of recoveries from charged-off loans and reversed allowances, rose to 4.8% in 1Q25, from 3.8% in 1Q24 and 2.2% in 4Q24. The YoY and QoQ increases were mainly driven by loan growth, led by the Interest Rates 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ (bps) YoY (bps) Interest earned on Loans 36,7% 39,8% 41,7% 61,3% 100,0% (308) (6.328) AR$ 43,0% 46,4% 46,4% 70,5% 109,9% (340) (6.698) US$ 5,4% 5,3% 5,7% 5,4% 6,3% 12 (92) Yield on Investment Porfolio 33,5% 51,9% 52,3% 66,8% 209,4% (1.841) (17.597) AR$ 33,8% 54,0% 53,7% 68,8% 239,6% (2.026) (20.584) US$ 30,4% 32,1% 23,8% 41,7% 37,5% (170) (715) Cost of Funds 16,7% 20,6% 23,5% 32,4% 62,3% (384) (4.558) AR$ 22,0% 26,9% 29,0% 39,0% 74,1% (495) (5.218) US$ 1,6% 1,2% 1,2% 1,0% 0,2% 44 141 Market Interest Rates 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ (bps) YoY (bps) Monetary Policy Rate (eop) 29,0% 32,0% 40,0% 40,0% 80,0% (300) (5.100) Monetary Policy Rate (avg) 30,1% 36,1% 40,0% 51,9% 96,0% (603) (6.595) Badlar Interest Rate (eop) 30,2% 31,9% 39,8% 36,1% 70,9% (175) (4.069) Badlar Interest Rate (avg) 29,9% 36,7% 38,4% 44,1% 101,6% (683) (7.167) % Change Loan Loss Provisions, net 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ Corporate -1.295,7 1.231,9 -695,7 716,4 461,0 na LLP -808,6 1.852,1 -502,6 746,5 423,6 na Other LLP -487,0 -620,2 -193,1 -30,1 37,4 na Personal and Business 32.531,9 13.070,2 13.265,0 15.355,6 12.465,2 148,9% LLP 32.464,7 15.407,1 12.414,5 14.541,9 11.980,9 110,7% Other LLP 67,2 -2.336,9 850,5 813,7 484,3 na Other -295,7 -106,9 -191,0 -113,1 158,1 176,6% LLP 164,4 330,0 157,1 79,8 33,7 -50,2% Other LLP -460,0 -436,9 -348,0 -192,9 124,5 na Total 30.940,6 14.195,2 12.378,4 15.958,9 13.084,4 118,0%
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21 higher growth in retail segment, which inherently carries higher provisioning requirements than commercial loans. QoQ performance was also impacted by provision releases recorded in 4Q24, following an update to the credit loss model that incorporated a more favorable macroeconomic outlook. Provisions were made in accordance with the Company’s expected credit loss (ECL) model. As of March 31, 2025, the Provisioning Ratio on the total loan portfolio was 3.0%, compared to 2.8% as of March 31, 2024, and 2.1% as of December 31, 2024 . The YoY and QoQ increase reflect the shift in the loan portfolio mix towards retail loans—driven by a 196.3% YoY and 12.8% QoQ growth in this segment—. The table below provides a year-to-date analysis of the allowance for loan losses: Credit Quality The total NPL ratio remains healthy at 2.0% in 1Q25, up from 1.1% in 1Q24 and 1.3% in 4Q24, reflecting a normalization of credit following growth of 196% and 58% YoY in real terms in our retail and commercial loan portfolios, respectively. Strong expansion in retail loans led to a shift in the loan mix toward retail exposure, which typically carries higher NPL levels than the corporate segment. Despite this, the current ratio remains below historical averages and aligns to the industry benchmark of 2% as of March 2025. Moreover, delinquency remains within expected levels embedded in product pricing, while we continue to refine our origination and collection strategies to preserve portfolio quality. 1. Includes allowances related to the loan portfolio and off-balance accounts. 2. These figures have been restated by applying a general price index, so the result in comparative figures is presented in terms of the current unit of measurement as of the closing date of the reporting period and does not reflect the total outstanding of the portfolio written off. Balance at the beginning of the period 12-month ECL Financial assets with significant increase in credit risk Credit- impaired financial assets Result from exposure to changes in the purchasing power of the currency in Allowances Balance at the end of the period Loans and Other Financings 53.511,1 5.399,9 6.453,7 13.902,5 4.223,5- 75.043,6 Other Financial Entities 38,8 28,1- - - 3,1- 7,7 Non Financial Private Sector 53.472,3 5.427,9 6.453,7 13.902,5 4.220,4- 75.035,9 Overdraft 2.212,7 545,6- 471,1- 84,1- 174,6- 937,3 Unsecured Corporate Loans 1.663,5 54,6 0,7- 792,1 131,3- 2.378,2 Mortgage Loans 585,7 2,6- 47,8 95,6 46,2- 680,2 Automobile and other secured loans 6.623,6 361,3 1.225,2 6.415,5 522,8- 14.102,8 Personal Loans 27.651,4 3.131,5 4.635,9 4.327,5 2.182,5- 37.563,8 Credit Cards 9.728,4 2.145,5 2.438,1 2.054,4 767,8- 15.598,6 Receivables from financial leases 661,3 53,9 40,0- 48,8 52,2- 671,9 Other 4.345,6 229,2 1.381,4- 252,7 343,0- 3.103,1 Other Securities 388,9 47,0- 6,2- 247,1 30,7- 552,2 Other Commitments 227,9 56,1- - 81,5 18,0- 235,3 Unused credit card balances 3.525,6 767,8 23,6 - 278,3- 4.038,6 Agreed Revocable Overdraft 321,9 118,8 117,9- - 25,4- 297,3 Total Allowances 57.975,4 6.183,4 6.353,1 14.231,0 4.575,9- 80.167,0 Lifetime ECL Analysis of the Allowance for Loan Losses Asset Quality (In millions of Argentine Ps.) mar 25 dec 24 sep 24 jun 24 mar 24 QoQ YoY Commercial Portfolio 972.001,8 1.163.288,0 1.031.947,6 1.050.806,0 834.303,3 -16,4% 16,5% Non-Performing 11.171,7 9.676,0 455,6 609,5 90,1 15,5% na Consumer Lending Portfolio 1.663.454,3 1.503.138,0 1.088.668,9 791.413,3 593.065,3 10,7% 180,5% Non-Performing 41.323,7 24.595,0 17.460,4 14.342,4 15.235,3 68,0% 171,2% Total Performing Portfolio 2.635.456,1 2.666.426,0 2.120.616,5 1.842.219,3 1.427.368,6 -1,2% 84,6% Total Non-Performing 52.495,3 34.271,0 17.916,0 14.951,9 15.325,4 53,2% 242,5% Total Non-Performing / Total Portfolio 2,0% 1,3% 0,8% 0,8% 1,1% Total Allowances1 80.167,0 57.975,4 50.461,4 45.282,6 40.417,9 38,3% 98,3% Coverage Ratio 152,7% 169,2% 281,7% 302,9% 263,7% Write offs (including the RECPPC on loans written off)2 4.307,1 4.130,2 2.978,0 4.441,7 1.833,6 4,3% 125,3% % Change
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22 The table below provides managerial information on charge-offs in AR$ measured in historical currency: 1. These figures do not include the amounts from the sale of loan portfolio that had not been previously written off. The amounts of loan portfolio sold were AR$ 527 million in 2Q24, and AR$678 million in 1Q24. No loan portfolio sales were made in 1Q25, 4Q24 and 3Q24. 1. NPL ratio includes guarantees granted to customers. The Coverage ratio was 152.7% as of March 31, 2025, compared to 263.7% as of March 31, 2024, and 169.2% as of December 31, 2024. Net service fee income & Income from insurance activities Net service fee income (excluding Income from Insurance Activities) totaled AR$45.5 billion in 1Q25, increasing 29.5% YoY, and remaining flat QoQ. Total Fee income totaled AR$57.5 billion increasing 26.0%, or AR$11.9 billion, YoY and 0.8%, or AR$435.2 million, QoQ. The YoY performance reflects: i) a 22.4%, or AR$ 7.0 billion , increase in banking fees following fee repricing throughout last twelve months, and ii) higher brokerage revenues from the asset management businesses and IOL, which increased 73.6%, or AR$3.2 billion and 30.2%, or AR$2.7 billion, respectively. Non-banking fees accounted for 33.8% of total fees (excluding Income from Insurance Activities) in 1Q25. The QoQ performance reflects: i) a 3.4%, or AR$1.2 billion increase, in banking fees mainly due to fee repricing of bundled products during the quarter, and ii) a 2.8%, or AR$ 208.0 million, increase in asset management fees. These were partially offset by i) a 5.2%, or AR$ 645.1 million , decrease in brokerage fees (IOL) due to lower transactions, even when Assets under Custody increased 10% in nominal terms ( 1.7% in real terms) and ii)a AR$372.5 million decline in other fees to AR$19.9 million. Service fee expenses increased 14.5% YoY and 3.9% QoQ, reflecting higher credit card processor fees in the banking business. 1 Other Fee Income includes certain insurance fees, and fees from the sale of non -financial services through Cordial Servicios, among others. Write offs. Non-restated Figures. Management Information1 (In millions of Argentine Ps.) mar 25 dec 24 sep 24 jun 24 mar 24 QoQ YoY Write offs (quarter) in nominal terms 4.168,8 3.706,6 2.447,3 3.231,7 1.047,7 12,5% 297,9% % Change NPL Ratio and Delinquency by Product & Segment1 mar 25 dec 24 sep 24 jun 24 mar 24 Corporate Segment 1.2% 0.9% 0.1% 0.1% 0.1% Personal and Business Segment 2.5% 1.6% 1.6% 1.8% 2.5% Individuals 2.8% 1.8% 1.8% 2.1% 2.9% Small businesses 1.6% 1.4% 1.7% 1.8% 2.0% Total NPL 2.0% 1.3% 0.8% 0.8% 1.1% Net Service Fee Income (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ YoY Income from: Banking Business 38.082,7 36.837,9 39.379,8 33.119,0 31.110,1 3,4% 22,4% Deposit Accounts 20.262,9 18.494,1 18.573,7 17.241,4 14.953,1 9,6% 35,5% Loan Related 490,4 223,6 110,5 55,8 96,9 119,3% 405,9% Credit cards commissions 11.334,2 11.958,9 14.087,3 10.131,6 9.754,5 -5,2% 16,2% Leasing commissions 423,7 367,7 429,0 327,3 283,7 15,2% 49,3% Other (custody & depositary fees & others) 5.571,6 5.793,6 6.179,3 5.362,9 6.021,9 -3,8% -7,5% Brokerage Business 11.777,9 12.422,9 12.888,9 9.434,6 9.046,8 -5,2% 30,2% Asset Management 7.661,0 7.453,0 7.205,6 5.792,0 4.414,1 2,8% 73,6% Other1 19,9 392,5 876,7 1.010,4 1.089,5 -94,9% -98,2% Total Fee Income 57.541,4 57.106,2 60.351,1 49.356,0 45.660,5 0,8% 26,0% Expenses: Commissions paid 11.706,3 11.060,6 11.838,7 11.526,9 10.172,7 5,8% 15,1% Exports and foreign currency transactions 378,2 573,8 453,0 223,2 380,4 -34,1% -0,6% Total Fee Expenses 12.084,5 11.634,4 12.291,7 11.750,1 10.553,1 3,9% 14,5% Net Services Fee Income 45.456,9 45.471,9 48.059,4 37.605,9 35.107,4 0,0% 29,5% % Change
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23 The main contributors to service fee income in 1Q25 were deposit accounts representing 35% of the total fee income compared to 33% in 1Q24. Credit cards accounted for 20% from 21% in 1Q24, IOL’s online brokerage fees remained stable YoY at 20%, while asset management fees increased to 13% from 10% in 1Q24, and non- financial services declined to 0% from 2.4% in 1Q24. Banking Business During 1Q25, fee income from the Banking Business amounted to AR$38.1 billion, increasing 22.4% YoY and 3.4% QoQ. • Deposit Accounts and Bundled Banking Services Deposit Account fees increased 35.5% YoY and 9.6% QoQ. The YoY and QoQ performance reflect fee repricing of bundle products during last twelve months. • Credit & Debit Cards Credit Card commissions increased 16.2%, or AR$1.6 billion, YoY, but decreased 5.2%, or AR$624.7 billion QoQ to AR$11.3 billion in 1Q25. Credit Card fees included a non-recurring payment from credit card processors of AR$700 million in 4Q24. Excluding these non-recurring payments, Credit Card fees would have increased 1.2% QoQ reflecting an increase in real terms in credit card usage. During 1Q25, total Credit Card transactions at the Bank increased 10.1% QoQ and 42.6% YoY, while the average ticket (in nominal terms) increased 8.7% QoQ (+0.1% in real terms) and 70.5% YoY (+9.3% in real terms) . Volumes increased 19.6% QoQ in nominal terms ( +10.2% in real terms) and 143.0% YoY in nominal terms (+55.9% in real terms). • Loan Operations (Commercial loans) In 1Q25, Loan related fees amounted to AR$ 490.4 million increasing 405.9%, or AR$393.4 million, YoY, and 119.3%, or AR$266.8 million, QoQ. Leasing commissions amounted to AR$423.7 million, increasing 49.3% YoY, and 15.2% QoQ. IOL Online Brokerage Business 1. Customers with account activity during last 90 days 2. In Nominal terms In 1Q25, the Online Brokerage Business, operated through IOL, continued expanding its customer base, adding 154,141 new accounts, and reaching 1.6 million accounts as of March 2025. In turn, active customers reached 603,000, up from 492,661 as of March 31, 2024. Assets Under Custody (AuC) increased 149.1% YoY in nominal terms and 59.7% in real terms. QoQ, AuC increased 10.4% in nominal terms and 1.7% in real terms. Brokerage fees totaled AR$11.8 billion, increasing 30.2% YoY, or AR$2.7 billion , and declining sequentially by 5.2%, or AR$645.1 million, due to the decrease in transactions following industry trends in the quarter. Asset Management Business As of March 31, 2025, the Asset Management Business operated through the Company’s subsidiary, SAM, recorded AR$1,294.5 billion in Assets Under Management (AuM) in nominal terms, up from AR$661.3 billion as of March 31, 2024, and declining from AR$1,385.8 billion as of December 31, 2024. Fees from the Asset Management Brokerage Business 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ YoY Customers (#)1 603.000 569.116 579.263 506.397 492.661 6,0% 22,4% New Accounts 154.141 108.469 143.496 124.711 148.344 42,1% 3,9% Monthly Active Users (MAUs) 258.890 292.458 298.273 261.625 254.552 -11,5% 1,7% Transactions (#) 5.669.756 6.009.249 6.697.147 5.548.731 5.777.009 -5,6% -1,9% Assets Under Custody (AR$ Bn.)2 2.261.892 2.048.802 1.516.598 1.325.434 908.160 10,4% 149,1% Market Share Cedears Byma 5,06% 5,80% 6,57% 6,52% 6,23% -12,8% -18,8% Ranking Cedears Byma 8 7 5 5 5 14,3% 60,0% Market Share Equity Byma 3,70% 3,95% 4,53% 4,42% 4,65% -6,3% -20,4% Ranking Equity Byma 7 8 8 7 5 -12,5% 40,0% % Change
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24 business represented 13.3% of total Fee Income, compared to 9.7% in 1Q24, and amounted to AR$7.7 billion in 1Q25, increasing AR$3.2 billion from 1Q25 and AR$208.0 million from 4Q24. Income from insurance activities (insurance premiums, net of insurance reserves and production costs) Income from Insurance activities totaled AR$8.5 billion in 1Q25, increasing 46.8% YoY and decreasing 0.6% QoQ. The QoQ performance reflects an 8.5% decrease in gross written premiums in real terms and a 12.0% increase in claims paid, partially offset by a 15.1% decrease in general expenses. The YoY performance reflects a 20.8% increase in gross written premiums in real terms, and a 7.6% decline in general expenses. These were partially offset by an 80.9% increase in claims paid. Figures for 1Q24, 2Q24 and 3Q24 were restated to reflect the implementation of IFRS17. In accordance with the implementation of IFRS 17 in 4Q24, the Company: i) identified, recognized, and measured each group of insurance contracts and each insurance acquisition cash flow asset s in this category as if IFRS 17 had always been applied; ii) derecognized existing balances that would not have existed under IFRS 17; iii) recognized any resulting net difference in equity ; and iv) reclassified certain items between administrative and personnel expenses and result from insurance activities to comply with IFRS 17 requirements. Gross written premiums, measured in the unit at the end of the reporting period, increased 20.8% YoY, while non- credit-related policies increased 3.0%. QoQ performance reflects, an 8.5% decline in Gross written premiums , while non-credit related policies declined 18.7%. Claims paid, measured in the unit at the end of the reporting period, increased AR$244.6 million, increasing 12.0% QoQ and 80.9% YoY. The Combined ratio was 59.1% in 1Q25, compared to 65.8% in 1Q24 and 62.0% in 4Q24. The QoQ performance is explained by a 15.1% decrease in general expenses partially offset by a 12.0% increase in claims paid and an 8.5% decline in gross written premiums in real terms. The YoY performance reflects a 20.8% increase in gross written premiums in real terms, and a 7.6% decline in general expenses. These were partially offset by an 80.9% increase in claims paid. Non-interest expenses & Efficiency 1. Total Employees reported include temporary employees Personnel expenses amounted to AR$ 68.0 billion in 1Q25, decreasing 24.6% YoY and 6.6% QoQ. These reductions reflect the impact of efficiency measures implemented across the organization. Headcount decreased 6.0% YoY and 0.4% QoQ. Severance & Other Personnel Expenses in 1Q25, 4Q24, 3Q24, 2Q24 and 1Q24 include severance payments and early retirement charges totaling AR$4.5 billion, AR$11.4 billion, AR$8.5 billion, AR$305.4 million and AR$6.3 billion, respectively. At the close of 1Q25, the employee base stood at 3,442, decreasing 6.0% YoY, or by 218 employees, and 0.4% QoQ, or by 14 employees. Looking at the Company’s subsidiaries: i) the Bank’s headcount declined 5.8% YoY Personnel, Administrative Expenses & D&A (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ YoY Personnel Expenses -67.962,4 -72.763,2 -78.405,8 -77.110,2 -90.181,1 -6,6% -24,6% Administrative expenses -41.368,0 -53.450,2 -46.277,8 -45.604,8 -43.932,6 -22,6% -5,8% Directors’ and Statutory Auditors’ Fees -1.003,0 -1.487,3 -1.350,8 -1.307,4 -1.325,3 -32,6% -24,3% Other Professional Fees -4.375,6 -6.153,6 -5.678,0 -6.168,3 -5.333,3 -28,9% -18,0% Advertising and Publicity -2.486,6 -7.866,4 -4.504,1 -4.006,3 -1.977,0 -68,4% 25,8% Taxes -10.136,4 -11.616,8 -10.209,8 -11.053,5 -10.735,7 -12,7% -5,6% Third Parties Services -6.443,6 -7.979,7 -6.544,3 -6.519,2 -6.997,8 -19,3% -7,9% Other -16.922,9 -18.346,4 -17.990,7 -16.550,1 -17.563,5 -7,8% -3,6% Total Personnel & Administrative Expenses ("P&A") -109.330,4 -126.213,4 -124.683,6 -122.715,0 -134.113,7 -13,4% -18,5% D&A -14.270,3 -14.748,2 -14.418,6 -13.967,4 -13.956,0 -3,2% 2,3% Total P&A and D&A -123.600,8 -140.961,6 -139.102,2 -136.682,4 -148.069,7 -12,3% -16,5% Total Employees1 3.442 3.456 3.542 3.602 3.660 -0,4% -6,0% Bank Branches 130 130 131 136 136 0,0% -4,4% Efficiency Ratio 59,6% 63,8% 64,1% 50,6% 33,8% % Change
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25 (185 employees) and 0.4% QoQ (12 employees); ii) IOL ´s staff decreased by 3 employees YoY but increased by 4 employees QoQ; and iii) Insurance headcount decreased 9 employees YoY and 10 employees QoQ. *Other includes 32, 32 and 36 employees of Mila as of March31, 2025, December 31, 2024, and March 31, 2024, respectively. The following table shows the banking business w age increases over recent years resulting from the bargaining agreement between Argentine banks and the banking industry labor union: Administrative expenses decreased 5.8% YoY and 22.6% QoQ to AR$41.4 billion. The YoY performance was mainly driven by decreases of: i) 18.0%, or AR$957.7 million, in other professional fees, ii) 3.6%, or AR$ 640.6 million, in other expenses mainly related to security, energy and maintenance expenses, among others, partially offset by higher insurance costs, iii) 5.6%, or AR$599.3 million, in Taxes, and iv) 7.9%, or AR$554.2 million. in Third Parties services. These reductions were partially offset by an increase of 25.8%, or AR$509.5 million, in Advertising & Publicity due to commercial campaigns related to the new positioning of the Bank. The QoQ performance was mainly driven by decreases of: i) 68.4%, or AR$5.4 billion, in Advertising & Publicity reflecting more efficient advertising costs in the quarter; ii) 28.9% or AR$1.8 billion, in Other Professional Fees, iii) 19.3%, or AR$1.5 billion, in Third Parties’ Services, and iv) 12.7%, or AR$1.5 billion, in taxes. Depreciation and impairment of assets decreased by 3.2%, or AR$477.8 million QoQ, but increased 2.3%, or AR$314.3 million YoY. The Efficiency ratio stood at 59.6% in 1Q25, compared with 33. 8% in 1Q24 and 63.8% in 4Q24. The QoQ performance was explained by a 12.3% decline in personnel and administrative expenses, along with lower D&A partially offset by a 6.1% decrease in Revenues. Excluding severance payments and early retirement charges in 1Q25 related to the Company’s efficiency program, the efficiency ratio would have been 57.6%. Other Operating Income & Turnover Tax Employees breakdown mar 25 dec 24 sep 24 jun 24 mar 24 QoQ YoY Bank 3.012 3.024 3.099 3.154 3.197 -0,4% -5,8% Insurance 147 157 157 159 156 -6,4% -5,8% IOL 162 158 156 154 165 2,5% -1,8% SAM 12 12 12 12 12 0,0% 0,0% Cordial Servicios 65 66 75 84 88 -1,5% -26,1% Other 44 39 43 39 42 12,8% 4,8% Total Employees 3.442 3.456 3.542 3.602 3.660 -0,4% -6,0% 2018 37,6% 2019 43,3% 2020 36,1% 2021 51,0% 2022 94,1% 2023 211,4% 2024 117,8% 1Q25 8,5% Month since increase applies Salary Increase Other Income, Net (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ YoY Other Operating Income 11.934,3 10.455,1 11.987,5 9.416,4 10.518,2 14,1% 13,5% Other Expenses -11.361,1 -22.320,2 -22.973,8 -27.199,4 -49.177,9 -49,1% -76,9% Subtotal 573,1 -11.865,0 -10.986,3 -17.783,0 -38.659,7 na na Turnover tax -22.435,0 -21.338,2 -15.550,7 -22.955,2 -29.622,8 5,1% -24,3% Total -21.861,8 -33.203,3 -26.537,0 -40.738,2 -68.282,5 -34,2% -68,0% % Change
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26 In 1Q25, Other Operating Income, net (excluding the turnover tax) amounted to a gain of AR$ 573.1 million, compared to losses of AR$ 38.7 billion in 1Q24 and AR$ 11.9 billion in 4Q24. Other operating losses reported in 1Q24 included higher provisions to execute several strategic initiatives in different business units and higher contingency provision related to Turnover Tax [see “Turnover Tax” Item]. Other operating losses reported in 4Q24 included higher losses from the year-end valuation of real estate as sets at market value. Turnover tax totaled AR$ 22.4 billion in 1Q25, decreasing 24.3% YoY but increasing 5.1% QoQ, mainly due to higher taxable interest income in the quarter. In January 2020, January 2023, and January 2024, the tax authorities of the City of Buenos Aires, Mendoza Province, and Buenos Aires Province, respectively, have imposed a Turnover Tax on revenues Central Bank securities and instruments (Leliqs/Notaliqs or Repos) The Central Bank initiated declaratory actions of certainty against the tax authorities of the City of Buenos Aires and the Province of Mendoza regarding the unconstitutionality of the measures implemented and is also working on actions before the Province of Buenos Aires since these measures directly and severely affect the purposes and functions assigned to the institution, substantially altering the execution of national monetary and financial policy. The Central Bank also cited that the imposition of th is Turnover Tax is in clear contradiction to the provisions of the National Constitution and its Organic Charter. The Central Bank has the authority to issue instruments to regulate monetary policy and achieve financial and exchange stability. Through the enacted laws, provincial governments exceed their powers by imposing taxes on these monetary policy instruments, the regulation, implementation, and/or use of which falls within the jurisdiction of the Central Bank. This directly impacts the immunity principle of the national government's policy as these revenues cannot be subject to taxation at the local level due to their immunity or non -taxable status. Both municipalities and provinces lack tax authority over financial instruments issued by the National Government. In line with the submissions made by the Central Bank, the Argentine Banking Association (ABA), the Argentine Bankers' Association (ADEBA), and the majority of financial institutions operating in these provinces have also filed constitutional actions against these regulations. These actions are still pending resolution by the Supreme Court of Justice. Based on the aforementioned, the Bank believes that the arguments supporting the non -taxability of these instruments are well-founded and supported by expert opinions from both internal and third-party specialists. The Bank considers the likelihood of a favorable ruling to be the most probable outcome. Consequently, the Bank has ceased paying the tax on the revenues generated by Repo transactions in the City of Buenos Aires since April 2023 and in the Province of Buenos Aires since January 2024. As of September 30, 2023, Law No. 6655 was published in the City of Buenos Aires , establishing a reduction of the Turnover Tax rate to 0% or 2.85% for the Central Bank's repo transactions and securities, subject to regulation and contingent on the effective transfer of revenue -sharing funds or agreements reached with the National Government. As of March 31, 2025, the Bank received a tax assessment from AGIP (the City of Buenos Aires Tax Authority) for the period June to August 2023. Consequently, the Bank recorded a contingency provision of AR$31.6 billion. Regarding the ongoing matter in the Province of Mendoza, following the publication of General Resolution (ATM Mendoza) No. 70/2024, Article 17, the Bank requested acceptance of the determined amounts, a reduction of the penalty to the legal minimum, and proceeded with the payment of AR$5 .6 million. This settlement was formally accepted by the ATM through Administrative Resolutions No. 198 and 533 of 2024. As of to-date, the Bank is working on withdrawing its legal action filed against the Province of Mendoza before the Supreme Court of Justice of the Nation (CSJN). Result from exposure to changes in the purchasing power of the currency The result from exposure to changes in the purchasing power of the currency for 1Q25 amounted to a loss of AR$41.9 billion, improving from losses of AR$165.1 billion in 1Q24 but increasing from AR$37.9 billion in 4Q24. The YoY improvement reflects a decrease in the pace of inflation, which slowed to 8.5% in 1Q25 from 51.6% in 1Q24, partially offset by higher net monetary assets, which rose to AR$503.9 billion.
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27 The QoQ performance reflects higher net monetary assets together with slightly higher inflation of 8.5% in 1Q25 compared to 8.0% in 4Q24. Other comprehensive income, net of tax Other Comprehensive Income (OCI) recorded a loss of AR$1.8 billion in 1Q25, compared to a loss of AR$9.3 billion in 1Q24 and AR$1.7 billion in 4Q24. The 1Q25 Other Comprehensive Income primarily reflects the mark- to-market valuation of government securities held at Fair value through Other Comprehensive Income. As of March 31 , 2025, the Other Comprehensive Income Reserve related to financial instruments stood at AR$3,077.1 million compared to a reserve of AR$ 893.2 million as of December 31, 2024 (measured in currency of December 31, 2024). Attributable Comprehensive Income for 1Q25 was AR$6.2 billion, compared to AR$63.1 billion in 1Q24 and AR$28.9 billion in 4Q24. Income tax The tax reform passed by Congress in December 2017 and the amendment to Income Tax Law No. 20,628 (the “Income Tax Law”) enacted in December 2019, introduced provisions allowing the deduction of losses arising from exposures to changes in the purchasing power of the currency, subject to certain inflation thresholds. Under these rules, inflation measured by the Consumer Price Index (CPI) issued by the INDEC must exceed the following thresholds for each fiscal year to permit such deductions: 55% in 2018, 30% in 2019 and 15% in 2020. For 2021 and subsequent periods, inflation must exceed 100% over a cumulative 3-year period to qualify for the deduction of inflation losses. In 2018, the 55% threshold was not met. However, in 2019, inflation widely exceeded 30%, enabling the recognition of inflation -related losses in the income tax provision starting that year. This change significantly reduced the income tax expense compared to prior years. In June 2021, a new income tax rate structure was introduced, establishing three tax brackets based on the accumulated taxable net income, adjusted annually according to the CPI. The new income tax rates are as follows: i) 25% for accumulated taxable income of up to AR$7.6 million; ii) 30% for taxable income of up to AR$76 million; and iii) 35% for taxable income exceeding AR$76 million. This revised structure is applicable for fiscal years beginning on or after January 1, 2021. Additionally, since income tax is calculated on a subsidiary-by-subsidiary basis, tax losses in one legal entity cannot be offset against tax gains in another legal entity. In 1Q25, the Company recorded a tax charge of AR$1.6 billion, compared to tax charges of AR$40.4 billion in 1Q24, and a gain of AR$6.0 billion in 4Q24. The income tax line reflects the net effect of the income tax provision at both the Bank level and other subsidiaries. In the previous quarter, the Bank recognized tax loss carry forwards originated in the merger with IUDU in 2022 that was applied to its 2024 tax return, reducing the Bank’s income tax payable. These tax credits were not recognized as assets before, considering their use was uncertain but the income generated in 2024 allowed the Bank to use them before expiration. Result from exposure to changes in the purchasing power of the currency % Change (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ YoY Result from exposure to changes in the purchasing power of the currency -41.871,5 -37.893,9 -53.344,1 -77.524,6 -165.130,8 10,5% -74,6% Total -41.871,5 -37.893,9 -53.344,1 -77.524,6 -165.130,8 10,5% -74,6%
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28 Balance sheet The table below shows the evolution of the balance sheet in real terms over the past five quarters: The charts below show the evolution of loans and deposits broken down by currency: Total Assets increased 9.1% QoQ and 34.0% YoY, reaching AR$ 5,365.3 billion as of March 31, 2025. Total average Assets increased 5.9% QoQ and 27.1% YoY QoQ growth was primarily driven by 30.2%, or AR$321.1 billion, increase in the balance of government securities, largely reflecting end-of-quarter assets and liability management. Net Loans increased by 1.9% , or AR$44.3 billion, during the same period. In terms of average balances, government securities rose a more moderate 13.7%, or AR$154.3 billion, QoQ, while average loans increase 14.0%, or AR$291.6 billion, reflecting a more sustained expansion in lending activity throughout the quarter. Since 1Q24, the Company has continued to diversify its asset portfolio, significantly increasing its exposure to private -sector loans while reducing its investment portfolio. Although loan participation declined slightly at quarter-end due to a temporary increase in government securities, the overall trend reflects a strategic shift towards greater loan exposure. This gradual diversification is expected to continue through 2025. As of March 31, 2025, t otal loans to total assets increased to 44.6%, up 1,530 bps from 29.3% in 1Q24, and declined 310 bps from 47.7% in 4Q24. The YoY performance reflects the increase in loan growth and higher liquidity in AR$ and US$ , driven by the increase in US$ deposits from the tax amnesty . These positive factors were partially offset by a decline in government securities and central bank instruments. (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) mar 25 dec 24 sep 24 jun24 mar24 QoQ YoY Assets Cash and due from banks 857.759,1 708.930,1 906.042,4 326.855,9 360.676,0 21,0% 137,8% Secuities at fair value through profit or loss 185.033,3 285.897,4 284.211,3 244.962,7 129.493,1 -35,3% 42,9% Derivatives 3.794,0 5.024,4 2.060,6 5.559,6 7.764,8 -24,5% -51,1% Repo transactions 3.052,2 - 23.828,0 284.908,1 1.300.171,7 na -99,8% Other financial assets 47.554,1 32.535,9 55.119,1 89.196,6 62.681,5 46,2% -24,1% Loans and other financings 2.399.782,7 2.356.127,4 1.845.573,0 1.608.544,6 1.174.901,9 1,9% 104,3% Other securities 1.323.503,1 916.102,9 901.137,9 1.303.868,0 445.612,6 44,5% 197,0% Financial assets in guarantee 118.389,6 196.861,6 223.774,1 88.101,9 90.760,9 -39,9% 30,4% Current Income tax assets - - - 1.357,9 - na na Investments in equity instruments 3.771,5 771,6 1.621,7 1.472,5 1.280,7 388,8% 194,5% Property, plant and equipment 108.231,2 110.671,7 117.777,3 118.789,1 119.180,7 -2,2% -9,2% Property investments 85.300,6 85.371,8 101.206,5 102.982,1 107.930,9 -0,1% -21,0% Intangible Assets 177.175,2 180.237,8 167.704,6 160.350,2 157.109,6 -1,7% 12,8% Deferred tax assets 6.557,3 1.862,8 1.959,1 1.120,9 1.748,8 252,0% 275,0% Other non-financial assets 45.435,5 38.587,9 44.164,5 45.056,0 43.589,4 17,7% 4,2% Total assets 5.365.339,4 4.918.983,3 4.676.180,0 4.383.126,2 4.002.902,8 9,1% 34,0% Liabilities and shareholders’ equity Deposits: 3.709.663,6 3.445.398,8 3.227.127,0 2.757.020,0 2.767.508,6 7,7% 34,0% Non‑financial public sector 132.877,6 157.105,8 154.572,0 154.701,4 141.627,9 -15,4% -6,2% Financial sector 232,6 201,2 132,6 429,1 259,2 15,6% -10,2% Non‑financial private sector and foreign residents 3.576.553,3 3.288.091,8 3.072.422,5 2.601.889,5 2.625.621,6 8,8% 36,2% Liabilities at a fair value through profit or loss 2.737,1 - 428,1 303,1 3.969,7 na -31,1% Derivatives 26,6 1.882,6 64,8 36,8 - -98,6% na Repo transactions 31.328,4 36.872,9 135.394,8 - - na na Other financial liabilities 177.496,3 180.425,8 161.090,6 531.326,5 123.685,4 -1,6% 43,5% Financing received from Central Bank and others 71.719,3 42.665,3 31.222,6 17.190,0 16.158,1 68,1% 343,9% Medium Term Notes 222.635,7 55.541,6 26.223,8 - - na na Provisions 41.725,6 44.082,2 58.662,4 60.596,4 60.927,0 -5,3% -31,5% Deferred tax liabilities 1.948,0 3.439,1 18.964,4 22.489,9 7.249,9 -43,4% -73,1% Other non-financial liabilities 196.437,7 208.717,5 149.606,2 140.366,8 139.810,2 -5,9% 40,5% Total liabilities 4.464.265,0 4.024.704,7 3.810.915,4 3.529.329,7 3.128.661,8 10,9% 42,7% Attributable Shareholders’ equity 899.279,4 893.096,5 864.204,1 853.072,6 873.526,5 0,7% 2,9% Non Controlling Interest 1.795,0 1.182,1 1.060,6 724,0 714,5 51,9% 151,2% Total liabilities and shareholders’ equity 5.365.339,4 4.918.983,3 4.676.180,0 4.383.126,2 4.002.902,8 9,1% 34,0%
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29 The leverage ratio (measured as Assets to Shareholders’ Equity) increased 140 bps YoY to 6.0x from 4.6x as of March 31, 2024, and increased 50 bps QoQ from 5.5x as of December 31, 2024. Current leverage remains significantly below the 8x level reached in 2018, underscoring the ample capacity for future growth. 1. Other & intangible includes Intangible assets, Deferred tax assets, financial assets in guarantee and other assets. As of March 31, 2025, December 31, 2024, September 30, 2024, June 30, 2024, and March 31, 2024, the main holdings of Government Securities were: 1. Boncer includes AR$1.3 billion of Boncer in Guarantee as of March 31, 2025 2. Lecap includes AR$15.5 billion of Lecap in Guarantee as of March 21, 2025 Loan portfolio Total Loans & Leasing portfolio , excluding other financings, grew 104.0% YoY and 1.9% QoQ. The YoY growth outpaced the industry 94.9% increase, while the QoQ growth remained below the industry 10% expansion, as Supervielle had anticipated part of this growth in the previous quarters. The gross loan portfolio (loans and financial leases, excluding other financings) grew 218.4% YoY, and 11.5% QoQ in nominal terms, reaching AR$ 2,466.6 billion as of March 31, 2025. In real terms, gross loans Assets Evolution mar 25 dec 24 sep 24 jun24 mar24 QoQ YoY Cash and due from banks 857.759 708.930 906.042 326.856 360.676 21,0% 137,8% Securities Issued by the Central Bank (includes Bopreal) 1.168 1.121 1.864 1.983 5.616 4,2% -79,2% Repo transactions 3.052 0 23.828 284.908 1.300.172 na na Government Securities 1.383.887 1.062.839 1.093.388 1.472.408 512.093 30,2% 170,2% Loans & Leasing, net 2.391.700 2.347.437 1.839.086 1.601.681 1.172.237 1,9% 104,0% Property, Plant & Equipments 108.231 110.672 117.777 118.789 119.181 -2,2% -9,2% Other & Intangible1 619.542 687.985 694.195 576.501 532.928 -9,9% 16,3% Total Assets 5.365.339 4.918.983 4.676.180 4.383.126 4.002.903 9,1% 34,0% % Change (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) Investment Portfolio (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) mar 25 dec 24 sep 24 jun 24 mar 24 Securities Issued by the Central Bank 1,167.7 1,121.0 1,864.3 1,982.6 5,616.0 AR$ Leliq - - 478.3 503.6 2,099.0 Bopreal 1,167.7 1,121.0 1,386.0 1,479.0 3,517.0 Government Securities 1,383,887.3 1,062,838.5 1,093,387.7 1,472,407.9 512,093.4 AR$ 1,252,480.5 1,006,037.9 1,066,445.3 1,451,447.6 461,579.3 US$ Linked/US$ 131,406.8 56,800.7 26,942.4 20,960.2 50,514.1 Corporate Securities 127,252.9 138,812.4 91,719.0 75,912.6 58,677.1 AR$ 92,837.3 97,899.0 63,532.4 48,574.9 41,113.6 US$ Linked/US$ 34,415.6 40,913.5 28,186.6 27,337.7 17,563.4 Gov Sec. in Guarantee 16,761.4 115,902.2 66,038.7 39,139.8 38,893.7 AR$ 16,761.4 115,588.9 65,766.8 38,814.0 38,893.7 US$ Linked/US$ - 313.3 271.9 325.7 - Repo transactions with Central Bank 3,052.2 - 23,828.0 284,908.1 1,300,171.7 Total 1,532,121.5 1,318,674.2 1,276,837.5 1,874,351.0 1,915,452.0 AR$ 1,365,131.4 1,219,525.8 1,220,050.7 1,824,248.3 1,843,857.5 US$ Linked/US$ 166,990.1 99,148.4 56,786.9 50,102.7 71,594.5 Goverment Securities breakdown (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) mar 25 dec 24 sep 24 jun 24 mar 24 Dual 275,876.4 1,051.2 23,621.9 18,568.1 31,623.3 Treasury Bonds (Reserve Requirements) - - - 48,073.2 64,713.5 Lecer 4.2 - - - 1,497.3 Boncer1 641,971.1 686,981.6 639,250.1 397,173.7 483,460.7 Treasury Bonds (Fixed interest rate) 136,921.9 81,763.9 308.3 154,634.4 25,506.4 Treasury Bonds (Badlar) 3,594.5 3,927.5 5,667.1 6,332.3 7,885.7 Lecap2 334,341.3 395,238.7 487,144.0 931,155.3 - Bopreal 1,167.7 1,121.0 1,386.0 1,479.0 3,517.0 Others 7,939.4 9,778.3 3,435.4 3,683.8 1,013.7 Total 1,401,816.4 1,179,862.2 1,160,812.8 1,561,099.9 619,217.5
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30 increased 104.2% YoY and 2.7% QoQ . The YoY performance reflects the Company’s strategic decision to accelerate loan origination in both commercial and retail segments, anticipating increased credit demand driven by declining inflation and lower market interest rates since March 2024 . The QoQ increase was particularly supported by strong retail loan demand, particularly in personal loans, car loans and credit cards. The AR$ loan portfolio amounted to AR$2,119.2 billion, up 203.7% YoY and 15.1% QoQ in nominal terms. In real terms, gross AR$ loans increased 94.8% YoY, 6.0% QoQ, while AR$ industry loans increased 107.0% YoY, 8.8% QoQ. As of March 31, 2025, US$ -denominated loans reached US$323.4 million, up 260.7% YoY reflecting higher corporate demand for US$ loans, exceeding industry trends but declined 9.8% QoQ. Off balance sheet guarantees ( denominated in AR$ and /or US$) granted to customers amounted to AR$135.9 billion as of March 31, 2025, decreasing 23.4% YoY and 28.8% QoQ reflecting the Bank’s strategy to originate on balance sheet credit. Total financing (including loans and financial leases and off -balance sheet guarantees granted to customers) amounted to AR$2,602.4 billion, increasing 87.9% YoY and 0.4% QoQ. The table below outlines the evolution of the loan book in real terms over the past five quarters, broken down by product. QoQ inflation was 8.5% while YoY inflation reached 55.9%. The charts below show the QoQ evolution of the gross loan book in real terms broken down by commercial and retail customers: The retail loan portfolio increased 12.8% QoQ, driven by higher demand for personal loans, car loans and credit cards. This growth followed the deceleration of inflation and the decline in nominal interest rates. As a result, retail loans accounted for 52% of the total loan portfolio, up from 48% in the previous quarter. The Commercial portfolio (including Small Businesses, SMEs, Middle Market and Large companies) decreased 4.3% sequentially, reflecting a decline in foreign trade loans and promissory notes, partially offset by higher overdrafts and leasing, reaching 48% of total loan portfolio. mar 25 dec 24 sep 24 jun 24 mar 24 QoQ YoY To the non‑financial public sector 4.841,2 3.508,8 3.527,3 4.131,8 1.778,0 38,0% 172,3% To the financial sector 9.042,7 22.155,3 13.608,2 15.477,9 11.704,1 -59,2% -22,7% To the non‑financial private sector and foreign residents (before allowances): 2.378.862,4 2.307.829,1 1.808.660,5 1.586.226,0 1.160.724,8 3,1% 104,9% Overdrafts 119.317,2 86.892,6 243.911,0 233.004,5 191.232,1 37,3% -37,6% Promissory notes 634.626,1 681.385,8 513.124,8 566.778,2 402.468,9 -6,9% 57,7% Mortgage loans 293.071,8 288.817,5 212.801,3 149.457,4 136.568,0 1,5% 114,6% Automobile and other secured loans 232.853,2 206.169,7 155.608,0 76.800,2 39.549,6 12,9% 488,8% Personal loans 396.256,1 310.192,9 205.283,9 145.152,1 98.773,9 27,7% 301,2% Credit card loans 316.123,2 302.143,7 232.758,5 186.834,4 149.268,1 4,6% 111,8% Foreign trade loans & US$ loans 326.882,0 387.012,5 199.419,2 182.262,3 110.830,0 -15,5% 194,9% Others 59.732,8 45.214,3 45.753,7 45.936,8 32.034,3 32,1% 86,5% Less: allowances for loan losses -74.191,0 -52.567,8 -43.233,7 -39.517,1 -34.863,7 41,1% 112,8% Total Loans, net 2.318.555,3 2.280.925,3 1.782.562,3 1.566.318,6 1.139.343,2 1,6% 103,5% Receivables from financial leases 71.729,9 64.955,8 55.155,7 33.842,2 31.076,9 10,4% 130,8% Accrued interest and adjustments 2.086,2 2.217,2 1.977,5 1.846,2 2.548,5 -5,9% -18,1% Less: allowances -671,9 -661,3 -610,0 -325,5 -731,4 1,6% -8,1% Total Loan & Financial Leases, net 2.391.699,6 2.347.437,0 1.839.085,6 1.601.681,4 1.172.237,1 1,9% 104,0% Total Loan & Financial Leases (before allowances) 2.466.562,5 2.400.666,1 1.882.929,3 1.641.524,1 1.207.832,3 2,7% 104,2% Off balance sheet guarantees granted to customers 135.860,6 190.878,9 167.278,4 140.211,4 177.380,8 -28,8% -23,4% Total Financing 2.602.423,1 2.591.545,0 2.050.207,6 1.781.735,5 1.385.213,1 0,4% 87,9% Total Financing Portfolio % Change
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31 Risk management Atomization of the loan portfolio As a result of its risk management policies, the Company has a diversified and atomized portfolio. The top 10, 50 and 100 borrowers in the quarter represented 8%, 18% and 25% of total loans , respectively remaining well- atomized and within Company´s established portfolio limits. Loan Portfolio breakdown by economic activity Notes: Loan portfolio balances include off balance guarantees granted to customers and other financings. “Others” includes more than 20 sectors with less than 1% each. Collateralized Loan Portfolio The chart below shows the evolution of the commercial loan portfolio broken down by collateralized and unsecured, in each commercial customer segment: As of December 31, 2024, 27% of the commercial loan portfolio was collateralized, while 75% of the commercial non-performing loan portfolio was collateralized. In the Personal and Business Banking portfolio: • Loans to payroll and pension clients accounted for 53% of the total retail loan portfolio in the segment as of March 31, 2025. • Collateralized retail loan portfolio to open market customers accounted 57% as of March 31, 2025 1Q25 4Q24 3Q24 2Q24 1Q24 %Top10 8% 10% 14% 17% 11% %Top50 18% 23% 28% 34% 31% %Top100 25% 30% 36% 44% 42% Loan portfolio atomization Small Businesses SMEs & Middle Market Large Total Collateralized Portfolio 33% 21% 42% 27% Unsecured Portfolio 67% 79% 58% 73% Loan portfolio collateral
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32 • Personal loans granted to payroll and pension customers reached 88% of total personal loans as of March 31, 2025 • Credit cards volumes granted to payroll and pension customers reached 57% of total credit cards volumes Funding Total funding, including deposits, other sources of funding such as financing from other financial institutions and medium-term notes, as well as attributable shareholders’ equity, increased 34.0% YoY and 9.1% QoQ in real terms. QoQ growth reflects the following increases: i) 300.8%, or AR$167.1 billion, in Medium Term Notes, following the issuance of Classes J and K for a total of US$78 million, and Classes L and M in pesos totaling AR$81 billion, ii) 7.7%, or AR$264.3 billion, in Deposits , mainly driven b y a 12.0% increase in AR Deposits while US$ deposits remained flat, and iii) 68.1%, or AR$29.1 billion, in foreign trade lines. Foreign currency funding (measured in US$) increased 189.1% YoY and 9.4% QoQ. The QoQ performance was primarily driven by the abovementioned issuance of Co rporate Notes in US$ and the increase in foreign trade lines. 1. Includes Time Deposits with Early Withdrawal Option Deposits Total Deposits amounted to AR$3,709.7 billion, increasing 109.0% YoY and 16.9% QoQ in nominal terms . Total private sector deposits reached AR$ 3,576.6 billion, increasing 112.4% YoY and 18.1% QoQ in nominal terms, compared to industry growth of 95.4% YoY and 5.6% QoQ. Average deposits amounted to AR$ 3,245.4 billion, increasing 19.8% YoY and 9.0% QoQ in real terms. In real terms, total deposits increased 34.0% YoY and 7.7% QoQ, while private sector deposits increased 36.2% YoY and 8.8% QoQ in real terms, above the industry trend. The YoY, performance reflects the following increases: i) 23.6%, or AR$ 401.0 billion, in wholesale institutional funding, reflecting quarter -end asset and liability management, ii) 59.0%, or AR$245.3 billion, in savings accounts, mainly driven by higher US dollar deposits following the tax amnesty in 3Q24 and 4Q24, along with increased peso-denominated savings accounts, supported (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) mar 25 dec 24 sep 24 jun24 mar24 QoQ YoY Deposits Non‑Financial Public Sector 132.877,6 157.105,8 154.572,0 154.701,4 141.627,9 -15,4% -6,2% Financial Sector 232,6 201,2 132,6 429,1 259,2 Non‑Financial Private Sector and Foreign Residents Checking Accounts 365.959,5 419.140,7 334.827,9 300.550,3 220.293,2 -12,7% 66,1% Savings Accounts 661.028,3 774.911,3 763.369,1 520.532,3 415.733,4 -14,7% 59,0% Time Deposits - Individuals and Companies 447.071,5 442.123,3 337.365,0 214.561,8 288.129,0 1,1% 55,2% Wholesale Funding 2.102.494,0 1.651.916,4 1.636.860,5 1.566.245,2 1.701.466,0 27,3% 23,6% Special Checking Accounts 1 .445.387,3 1 .057.249,5 1 .203.721 ,9 1 .063.683,6 973.969,8 36,7% 48,4% Time Deposits 455.457,9 349.554,1 277.905,2 245.735,9 302.620,3 30,3% 50,5% Others 1 201 .648,8 245.1 1 2,9 1 55.233,4 256.825,6 424.875,9 - 1 7,7% - 52,5% Total Deposits 3.709.663,6 3.445.398,8 3.227.127,0 2.757.020,0 2.767.508,6 7,7% 34,0% Other Source of Funding Liabilities at a fair value through profit or loss 2.737,1 0,0 428,1 303,1 3.969,7 na -31,1% Repo transactions 31.328,4 36.872,9 135.394,8 0,0 0,0 -15,0% na Other financial liabilities 177.522,9 182.308,4 161.155,4 531.363,3 123.685,4 -2,6% 43,5% Financing received from Central Bank and others 71.719,3 42.665,3 31.222,6 17.190,0 16.158,1 68,1% 343,9% Medium Term Notes 222.635,7 55.541,6 26.223,8 0,0 0,0 300,8% na Current Income tax liabilities 8.546,7 5.678,9 2.130,8 0,0 9.352,8 50,5% -8,6% Provisions 41.725,6 44.082,2 58.662,4 60.596,4 60.927,0 -5,3% -31,5% Deferred tax liabilities 1.948,0 3.439,1 18.964,4 22.489,9 7.249,9 -43,4% -73,1% Other non-financial liabilities 196.437,7 208.717,5 149.606,2 140.366,8 139.810,2 -5,9% 40,5% Total Other Source of Funding 754.601,4 579.305,9 583.788,4 772.309,6 361.153,2 30,3% 108,9% Attributable Shareholders’ Equity 899.279,4 893.096,5 864.204,1 853.072,6 873.526,5 0,7% 2,9% Total Funding 5.363.544,4 4.917.801,2 4.675.119,4 4.382.402,2 4.002.188,3 9,1% 34,0%
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33 by lower inflation and nominal interest rates which encouraged customers to maintain higher balances in their accounts; iii) 66.1%, or AR$145.7 billion, in checking accounts, driven by higher transactional volumes from the Bank’s commercial clients; and iv) 55.2%, or AR$158.9 billion, in time deposits from individuals and companies. Additionally, the YoY comparison is affected by a lower deposit base in 1Q24, when interest rates were highly negative in real terms. The QoQ increase in deposits was mainly driven by the following increases : i) 27.3%, or AR$450.6 billion, in wholesale institutional funding, reflecting quarter-end asset and liability management; and ii) 1.1% increase, or AR$4.9 billion, in time deposits from individuals and companies. These increases were partially offset by a 14.7% seasonal decline, or AR$113.9 billion, in savings accounts and a 12.7% decline, or AR$53.2 billion, in checking accounts. The decline in these products’ end-of-period balances was largely due to year-end seasonality recorded in the previous quarter. However, average balances recorded a 9.4% QoQ increase in savings accounts, while checking accounts remained stable, reflecting a more favorable underlying performance than end of period figures. AR$ deposits amounted to AR$2,823.3 billion, increasing 86.6% YoY and 21.6% QoQ in nominal terms, compared to industry growth of 88.4% YoY and 9.2% QoQ. In real terms, AR$ deposits increased 19.7% YoY and 12.0% QoQ. The YoY increase in AR$ Deposits was mainly explained by growth in the following: (i) 14.5%, or AR$219.7 billion, in wholesale institutional funding, reflecting quarter -end asset and liability management, i) 23.7%, or AR$ 56.6 billion, in savings accounts, mainly driven by higher peso-denominated deposits, supported by lower inflation and interest rates, which encouraged customers to maintain higher balances in their accounts; ii) 66.1%, or AR$145.7 billion, in checking accounts, driven by increased transactional volumes from the Bank’s commercial clients; and iii) 15.4%, or AR$39.7 billion, in time deposits from individuals and companies. The YoY comparison also benefited from a lower deposit base in 1Q24. The QoQ increase in AR$ deposits was mainly driven by growth of 30.7%, or AR$ 406.6 billion, in wholesale institutional funding, reflecting quarter-end asset and liability management. These increases were partially offset by declines of 12.7%, or AR$53.2 billion, in checking accounts and 10.4%, or AR$34.4 billion, in savings accounts. The decline in savings accounts’ end-of-period balances is largely due to year-end seasonality recorded in the previous quarter. However, average balances recorded increases of 6.4% QoQ in savings accounts, and 2.1% in checking accounts, reflecting a more favorable underlying performance than end of period figures. The charts below illustrate the breakdown of deposits as of December 31, 2024, detailing the share of each product relative to total deposits. AR$ Deposits mar 25 dec 24 sep 24 jun24 mar24 QoQ YoY Non‑Financial Public Sector 132.499,7 147.161,1 144.469,8 144.240,0 129.899,3 -10,0% 2,0% Financial Sector 232,5 200,8 132,6 429,1 259,0 15,8% -10,2% Non‑Financial Private Sector and Foreign Residents 2.690.552,8 2.373.907,6 2.170.336,4 2.161.950,1 2.228.855,2 13,3% 20,7% Checking Accounts 365.959,5 419.140,7 334.827,9 300.550,3 220.293,2 -12,7% 66,1% Savings Accounts 295.186,9 329.583,8 272.853,1 341.998,7 238.589,1 -10,4% 23,7% Time Deposits - Individuals and Companies 297.661,2 300.008,8 225.731,9 184.515,9 257.975,9 -0,8% 15,4% Wholesale Funding 1.731.745,2 1.325.174,2 1.336.923,5 1.334.885,2 1.511.997,1 30,7% 14,5% Spec ial Chec king Ac c ounts 1 .081 .243,2 737.442,5 91 0.749,3 838.731 ,6 791 .802,3 46,6% 36,6% Time Deposits 455.457,9 349.554,1 277.905,2 245.735,9 302.620,3 30,3% 50,5% Others 1 95.044,1 238.1 77,6 1 48.269,0 250.41 7,6 41 7.574,5 - 1 8,1 % - 53,3% Total AR$ Deposits 2.823.285,0 2.521.269,5 2.314.938,7 2.306.619,1 2.359.013,6 12,0% 19,7% % Change(In millions of Ps. stated in terms of the measuring unit current at the end of the reporting
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34 1. As of March 31 , 202 5, non-or low -cost private sector demand deposits accounted for 23% of the Company’s total AR$ deposit base , consisting of 10.5% in savings accounts and 13.0% in checking accounts. This compares to 30% of total deposits as of December 31, 2024 (with 13.1% in savings accounts and 16.6% in checking accounts), and 19% as of March 31, 2024. Foreign currency deposits (measured in US$) amounted to US$825.4 million, increasing 170.1% YoY and 0.1% QoQ, while industry FX deposits increased 73.6% YoY and declined 6.7% QoQ. The YoY performance reflects higher US$ deposit inflows following the tax amnesty launched on August 18, 2024, in addition to above-industry US$ deposit growth reflecting Company’s initiatives to increase US$ deposits. As of March 31, 2025, FX deposits represented 24% of total deposits, compared to 15% as of March 31, 2024, and 27% as of December 31, 2024. As of March 31, 2025, total deposits represented 69.2% of Supervielle’s total funding sources compared to 69.1% as of March 31, 2024, and 70.1% as of December 31, 2024. Other sources of funding & Shareholder’s equity As of March 31 , 2025, other sources of funding and shareholders ’ equity amounted to AR$ 1,653.9 billion, increasing 34-0% YoY and 12.3% QoQ. The YoY performance is explained by increases of: i) 108.9%, or AR$393.4 billion, in Other Sources of funding, and ii) 2.9%, or AR$25.7 billion, in Shareholders’ equity. The QoQ performance reflects a 30.3%, or AR$175.3 billion, increase in Other sources of funding, while Attributable Shareholders’ equity increased 0.7%, or AR$6.2 billion. On January 14, 2025, the Bank issued its Class J Negotiable Obligations denominated in US$ totaling US$50 million, with a 6-month maturity and a fixed interest rate of 4.18%. The Class J corporate bonds will mature on July 14, 2025. On February 7, 2025, the Bank issued its Class K Negotiable Obligations denominated in US$, totaling US$28,4 million, with a 6-month maturity and a fixed interest rate of 4.15%. The Class K Obligations will mature on August 7, 2025. On the same date, the B ank issued its Class L Negotiable Obligations denominated in AR$, of AR$50.9 billion, with a 12-month maturity and a floating interest rate of TAMAR + 2.75%. The Class L corporate bonds will mature on February 7, 2026. On March 7, 2025, the Bank issued its Class M Negotiable Obligations denominated in AR$, of AR$30.6 billion, with a 12-month maturity and a floating interest rate of TAMAR + 2.75%. The Class M corporate bonds will mature on March 7, 2026. US$ Deposits (In millions of US$) mar 25 dec 24 sep 24 jun24 mar24 QoQ YoY Total US$ Deposits 825,4 824,4 801,1 375,6 305,5 0,1% 170,1% % Change
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35 CER – UVA exposure As of March 31, 2025, the Company’s total net exposure to CER-UVA amounted to AR$981.1 billion, representing 109.1% of the Attributable Shareholders’ Equity, compared to AR$954.3 billion, or 106.8%, as of December 31, 2024. Moreover, the Company held non-monetary asset s totaling AR$390.6 billion as of March 31 , 2025, representing 43.4% of the Attributable Shareholders’ Equity. These assets are adjusted for inflation on a monthly basis. 1 Securities line item does not include AR$276 billion of Dual bonds as they are classified in US$ currency. Foreign currency exposure The table below shows the foreign currency exposure as of the end of each reported period: According to Central Bank regulations, non -financial liabilities resulting from the adoption of IFRS 16 since January 2019 are not considered within the Global Net Position. The Global Net Position is limited to a 4% maximum long position. AR$ million 1Q25 4Q24 3Q24 2Q24 1Q24 Assets exposed to CER/UVA Loans 350.770,7 331.994,3 245.043,2 167.953,5 146.653,7 Mortgage Loans 293.071,8 288.817,4 212.801,2 149.457,3 136.567,9 Car Loans 53.246,3 38.561,8 24.060,6 14.256,2 5.599,9 Personal Loans 0,0 0,0 0,0 3,2 7,8 Other Loans 3.079,5 3.395,6 7.337,1 3.679,2 3.995,6 Interest 1.373,0 1.219,4 844,2 557,5 482,6 Securities1 641.975,3 686.981,6 639.250,1 397.173,7 484.958,0 BONCER/LECER 641.975,3 686.981,6 639.250,1 397.173,7 484.958,0 Total Assets 992.745,9 1.018.975,9 884.293,3 565.127,2 631.611,7 Liabilities exposed to CER/UVA Deposits 5.411,1 58.974,1 181.497,6 12.037,8 8.914,9 Savings accounts on Construction industry unemployment fund 6.187,7 5.552,1 5.211,4 5.010,2 4.404,0 Other Liabilities 13,4 188,7 237,1 41,1 16,0 Total Liabilities 11.612,2 64.714,9 186.946,1 17.089,0 13.334,9 Total Exposure to CER/UVA, net 981.133,7 954.261,0 697.347,2 548.038,2 618.276,9 Consolidated Balance Sheet Data mar 25 dec 24 sep 24 jun 24 mar 24 (In thousands of US$) Assets Cash and due from banks 662.870 433.602 689.408 215.569 224.644 Secuities at fair value through profit or loss 165.722 119.281 66.087 68.772 58.555 Loans 400.865 353.888 198.750 158.891 83.803 Other Receivables from Financial Intermediation 7.995 5.406 7.055 6.267 6.596 Other Receivable from Financial Leases 489 1.102 1.705 2.157 2.510 Other Assets 22.384 - - - - Other non-financial assets 16 6.377 5.902 4.904 14.543 Total assets 1.260.342 919.656 968.908 456.561 390.651 Liabilities and shareholders’ equity Deposits 1.033.905 824.305 865.372 375.601 306.877 Other financial liabilities 205.998 81.047 60.007 35.589 32.536 Other Liabilities 3.070 2.013 4.418 3.868 4.088 Subordinated Notes - Total liabilities 1.242.973 907.365 929.797 415.057 343.500 Net Position on Balance 17.369 12.291 39.110 41.503 47.151 Net Derivatives Position -31.096 6.340 -5.952 -18.778 -27.311 Global Net Position -13.727 18.630 33.158 22.726 19.841
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36 Liquidity & reserve requirements Loans to deposits ratio was 66.5% as of March 31, 2025, compared to 43.6% as of March 31, 2024, and 69.7% as of December 31, 2024. The QoQ performance reflects a 7.7% increase in Deposits while loans grew at a slower pace of 2.7%. The AR$ loans to AR$ deposits ratio was 75.1% as of March 31, 2025, compared to 46.1% as of March 31, 2024, and 79.3% as of December 31, 2024. The US$ loans to US$ deposits ratio was 39.2% as of March 31, 2025, compared to 29.3% as of March 31, 2024, and 43.5% as of December 31, 2024, reflecting the decline in foreign trade loans in 1Q25. As of March 31, 2025, the Liquidity Coverage ratio (“LCR”) was 115.3%. Net Stable Funding ratio (“NSFR”) as of March 31, 2025, was 126.6%. The tables below provide further details on liquidity in AR$ and US$: This liquidity ratio includes Cash, Repo transactions, Call transactions and Government Securities. The table below shows the composition of the Company’s reserve requirements as of each reported date. The minimum cash reserve requirement is calculated based on the monthly average of daily balances of liabilities at the end of each day throughout the calendar month. 1. SMEs loans deduction For more information on the regulatory environment please see Appendix V. AR$ Liquidity (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) Cash and due from banks 289.086 222.527 178.886 68.204 60.083 Government Securities 1.217.254 1.139.679 1.126.642 1.507.978 509.289 Repo Transactions 168.544 - 23.733 283.847 1.298.710 Call - 16.542 7.932 2.016 9.668 Liquid AR$ Assets 1.674.884 1.378.748 1.337.194 1.862.045 1.877.749 Total AR$ Deposits 2.823.285 2.521.269 2.314.939 2.306.619 2.359.014 Liquid AR$ Assets / Total AR$ Deposits 59,3% 54,7% 57,8% 80,7% 79,6% mar 25 jun 24dec 24 sep 24 mar 24 US$ Liquidity (In US$ million) Cash and due from banks 529,6 433,9 638,6 215,7 224,8 US$ Government Securities 7,0 44,1 1,7 4,6 23,6 Liquid US$ Assets 536,5 478,0 640,3 220,3 248,4 Total US$ Deposits 825,4 824,4 801,1 375,6 305,5 Liquid US$ Assets / Total US$ Deposits 65,0% 58,0% 79,9% 58,7% 81,3% jun 24 mar 24mar 25 dec 24 sep 24 Minimum Cash Reserve Requirements on AR$ Deposits (Avg. Balance. AR$ MM.) mar 25 dec 24 sep 24 jun 24 mar 24 Cash 272.628,6 252.328,5 189.414,6 161.442,1 32.719,4 Government Securities 277.455,2 218.565,1 220.362,4 179.579,1 173.894,2 Leliq 0,0 0,0 0,0 0,0 0,0 Special Deduction1 160.129,8 135.311,5 125.596,5 73.687,4 82.887,5 Total Cash Reserve Requirements 710.213,6 606.205,1 535.373,5 414.708,5 289.501,1 Minimum Cash Reserve Requirements on U$S (Avg. Balance. US$ MM.) mar 25 dec 24 sep 24 jun 24 mar 24 Cash 441,2 291,9 338,7 125,5 103,4 Total Cash Reserve Requirements 441,2 291,9 338,7 125,5 103,4
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37 Capital As of March 31, 2025, equity to total assets was 16.8%, decreasing from 21.8% as of March 31, 2024, and 18.2% as of December 31, 2024. The table below outlines the dividends paid by the Company to its shareholders, dividends received from its subsidiaries, and capital injections made by the Company to its subsidiaries from January 2024 to the date of this report. All figures are stated in nominal AR$ as of the date of payment: On June 28, 2019, the Central Bank of Argentina issued a ruling, effective January 1, 2020, requiring Group “A” financial institutions controlled by non-financial institutions (such as the Company and the Bank) to comply with Minimum Capital requirements, Major Exposure to Credit Risk regulations, Liquidity Coverage Ratio and Net Stable Funding Ratio. These requirements apply on a consolidated basis, including the non-financial holding and all its subsidiaries (excluding insurance companies and non -financial subsidiaries). On March 21, 2024, the Central Bank introduced Communication “A” 7982, requiring financial institutions to submit monthly consolidated reports starting April 2024, covering the non-financial holding and all its subsidiaries (excluding insurance companies). Under this regulation, the Tier 1 ratio would have been 25.2% as of March 31, 2024, compared to the reported 24.7% in 1Q24. On July 18, 2024, through Communications “A” 8066, “A” 8067 and “A” 8068 the Central Bank modified sections 2, 5 and 7 of the Minimum Capital Requirement regulations effective January 1, 2025, October 1, 2024 , and March 1, 2025, respectively. The main changes of these communications are: • The credit and operational risk requirements now differ for entities in Group 1 and 2. According to Communication “A” 8067, Group1 entities are defined as those classified by the Argentine Central Bank as having a local systemic importance (D-SIB) or foreign bank branches or subsidiaries designated as having global systemic importance (G-SIB). • Certain credit risk weights were modified; for example, commitments that are unconditionally cancellable at any time by the bank without prior notice, or that automatically cancel due to deterioration in a borrower’s creditworthiness, will have a credit conversion factor (CCF) of 10%, compared to 0% previously. • New subgroups of exposures were introduced to improve risk differentiation and enhance credit risk calculations, such as exposures to “investment grade” corporates, Corporate SMEs, and regulatory retail exposure to “transactors”, among others. Consolidated Capital (in million of AR$) mar 25 dec 24 sep 24 jun 24 mar 24 QoQ YoY Attributable Shareholders’ Equity 899.279,4 893.096,5 864.204,1 853.072,6 873.526,5 0,7% 2,9% Average Shareholders’ Equity 900.644,8 883.614,2 863.139,1 860.234,2 856.226,3 1,9% 5,2% Shareholders’ Equity as a % of Total Assets 16,8% 18,2% 18,4% 19,4% 21,8% Avg. Shareholders’ Equity as a % of Avg. Total Assets 18,0% 18,7% 20,0% 22,1% 21,7% Tang. Shareholders’ Equity as a % of T. Tang. Assets 13,9% 15,0% 15,4% 16,4% 18,6% % Change Dividends & Capital Injections (AR$ million, US$million) Date Dividends Received Dividends Paid Capital Injection May 24 19,463 May 25 27,137 Supervielle Seguros Jun 24 4,800 Nov 24 1,900 Apr 25 5,700 May 25 2,850 Supervielle Productores Asesores de Seguros Dec 24 609 Supervielle Asset Management Mar 24 6,876 Mar 25 14,557 IOL invertironline May 24 US$ 6.0 IOL Holding May 24 US$ 7.7 Supervielle Agente de Negociación April 24 450 Sofital May 24 400 Jun 24 245 May 25 1,410 Mila May 24 1,071 May 25 3,279 Grupo Supervielle
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38 • The gross income for the operational risk requirement must be expressed in terms of the measuring unit current at the end of the prior month to the one in which the calculation is made. Additionally, the effect of inflation on the net monetary position is incorporated into the gross income. The Common Equity Tier 1 Ratio (CET1) as of March 31, 2025, was 15.3% decreasing 990 bps YoY and 80 bps QoQ reflecting high loan growth in real terms. The QoQ decrease in CET1 reflects a non-recurring impact of 1,400 bps from the implementation of the new operational risk requirements since January and March 2025. Moreover, CET1 performance reflects the expansion in Risk weighted assets driven by loan growth, and higher deductions on deferred tax. These were partially offset by the Company’s organic capital creation together with inflation adjustment of capital. As of March 31, 2025, Banco Superville’s consolidated financial position reflected a solvency level with integrated capital of AR$667.2 billion, exceeding total capital requirements by AR$312.2 billion. The tables below provide additional information on the Bank’s consolidated regulatory capital and minimum capital requirement as of the dates indicated. All figures are stated in nominal terms as of each reported date. On March 19, 2020, the Central Bank introduced Communication “A” 6938, allowing Group A financial institutions to consider in their Tier 1 capital (COn1) calculation the positive difference between the accounting provision calculated in accordance with item IFRS 9, 5.5, and the regulatory provision calculated in accordance with the Central Bank´s standards on minimum loan loss provisions, or the accounting provision as of November 30, 2019, whichever is higher. This provision applies when the IFRS-based provision exceeds the regulatory or accounting provision as of that date. In August 2023, the Central Bank issued a clarification stating that financial Calculation of Excess Capital mar 25 dec 24 sep 24 jun 24 mar 24 Allocated to Assets at Risk 202,486.0 182,998.5 143,643.9 115,667.1 73,050.4 Allocated to Bank Premises and Equipment, Intangible Assets and Equity Investment Assets 23,168.5 23,723.6 21,985.8 18,557.8 15,292.5 Market Risk 15,608.0 17,327.4 11,162.6 7,387.9 4,926.2 Public Sector and Securities in Investment Account 415.3 534.4 340.3 375.5 289.4 Operational Risk 113,349.0 74,466.7 62,655.8 51,763.1 34,586.0 Required Minimum Capital Under Central Bank Regulations 355,027.0 299,050.6 239,788.4 193,751.4 128,144.5 Basic Net Worth 928,339.8 824,470.9 747,508.0 651,611.3 437,903.5 Complementary Net Worth 0.0 0.0 0.0 0.0 0.0 Deductions -261,147.5 -233,821.2 -182,466.5 -145,602.9 -72,291.4 Total Capital Under Central Bank Regulations 667,192.4 590,649.7 565,041.5 506,008.5 365,612.2 Excess Capital 312,165.4 291,599.0 325,253.1 312,257.0 237,467.7 Total Capital mar 25 dec 24 sep 24 jun 24 mar 24 Tier 1 Capital Paid in share capital common stock 437.7 437.7 437.7 438.1 834.3 Irrevocable capital contributions 0.0 0.0 0.0 0.0 0.0 Share premiums 601,790.2 554,292.3 513,101.1 457,590.7 7,308.7 Buyback shares -13,525.5 -12,458.0 -11,532.2 -9,775.7 0.0 Disclosed reserves and retained earnings 237,039.0 93,162.6 86,239.4 76,909.5 60,879.8 Non‑controlling interests 739.0 597.9 553.5 493.3 0.0 Capital adjustments 64,255.2 59,149.1 54,721.1 48,900.2 330,267.4 IFRS Adjustments 1,344.9 4,881.6 3,908.8 2,454.0 2,467.7 Expected Loss - Communication "A" 6938 item 10 32,291.7 17,784.7 18,729.4 15,266.8 11,918.8 100% of results 0.0 89,909.5 72,173.2 46,495.5 0.0 50% of positive results / 100% negative results 3,967.6 16,713.3 9,175.9 12,838.9 24,226.7 Sub‑Total: Gross Tier I Capital 928,339.8 824,470.9 747,508.0 651,611.3 437,903.5 Deduct: All Intangibles 175,516.4 164,405.8 141,525.8 120,695.1 50,687.5 Pending items 151.5 208.4 331.7 434.5 195.5 Other deductions 85,479.6 69,207.1 40,609.0 24,473.2 21,408.4 Total Deductions 261,147.5 233,821.2 182,466.5 145,602.9 72,291.4 Sub‑Total: Tier I Capital 667,192.4 590,649.7 565,041.5 506,008.5 365,612.2 Sub‑Total: Tier 2 Capital 0.0 0.0 0.0 0.0 0.0 Total Capital 667,192.4 590,649.7 565,041.5 506,008.5 365,612.2 Credit Risk weighted assets 2,736,269.2 2,557,622.0 2,044,141.3 1,637,573.1 1,085,752.8 Risk weighted assets 4,355,529.9 3,662,675.5 2,936,928.8 2,372,888.1 1,569,536.8 Tier 1 Capital / Risk weighted assets 15.3% 16.1% 19.2% 21.3% 25.2% Regulatory Capital / Risk weighted assets 15.3% 16.1% 19.2% 21.3% 25.2%
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39 institutions applying the Expected Credit Loss method ology cannot include Loan Loss Provision for portfolios classified as in "normal" in Additional Capital. As a result, since 3Q23 CET1 and Tier 1 capital have been equal to the Regulatory Capital ratio. Results by segment Until 2022, the Company also operated a Consumer Finance segment, which included the businesses of IUDÚ, Tarjeta, Cordial Servicios and Mila. Following the merger of IUDÚ and Tarjeta into the Bank, the IUDÚ and Tarjeta portfolios now included in the Personal & Business Banking segment, Cordial Servicios is included in the Asset Management and Other Services segment, while Mila is now included in the Personal & Business Banking segment. Evolution of Customers 1. Starting September 2022, IUDU customers were migrated to the Bank and since 2025 they were included in the Mass Affluent customer base. 2. Beneficiaries of social plan receive their monthly government payment through the Bank and are customers with lower cross sell than other retail customers. Customers-Gross Adds Attributable Net Income Mix The table below presents information of the Company´s Attributable Net Income by segment: 1. Attributable Net Income of Asset Management & Other Service segment includes AR$3.8 billion and AR$4.0 billion from IOL and SAM respectively in 1Q25. Active Customers evolution mar 25 dec24 sep24 jun24 mar 24 Bank- Personal & Business- Individuals 1,095,298 1,114,584 1,085,662 1,073,742 1,081,418 Bank- Personal & Business- Former consumer finance customers1 - 54,837 57,566 70,032 83,136 Bank- Personal & Business- Social Plan Beneficiaries2 254,669 229,395 206,201 223,117 236,310 Bank- Personal & Business- Small Businesses and SMEs 32,222 34,742 34,316 33,597 33,269 Bank- Corporate Banking 1,679 1,798 1,685 1,671 1,654 Total Bank Customers 1,383,868 1,435,356 1,385,430 1,402,159 1,435,787 IOL invertironline 604,724 570,661 580,749 506,397 492,661 Total Customers 1,988,592 2,006,017 1,966,179 1,908,556 1,928,448 Customers-Gross Adds 1Q25 4Q24 3Q24 2Q24 1Q24 Bank- Personal & Business- Individuals 41,356 60,948 65,139 48,726 39,164 Bank- Personal & Business- Small Businesses & SMEs 668 1,153 1,237 1,145 707 Bank- Corporate Banking 204 204 249 219 66 Bank Customers Gross Adds 42,228 62,305 66,625 50,090 39,937 IOL invertironline Gross Adds 95 108,469 143,496 124,711 148,344 Total Customers Gross Adds 42,323 170,774 210,121 174,801 188,281 Attributable Net Income (in millions of Argentine Ps.) 1Q25 4Q24 1Q24 QoQ YoY Personal & Business (27.731) (15.409) (43.984) 80% -37% Corporate Banking 2.648 489 4.146 441% -36% Treasury 20.779 33.705 115.929 -38% -82% Insurance 3.314 3.370 (888) -2% na Asset Management & Other Service1 12.647 15.076 5.624 -16% 125% Total Allocated to segments 11.657 37.231 80.826 -69% -86% Adjustments (3.719) (6.632) (8.367) na na Total Consolidated 7.938 30.599 72.460 -74% -89%
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40 As of January 2025, we implemented changes in our internal capital allocation methodology. Items that were previously distributed across segments based on their percentage of capital usage, such as results from capital, inflation adjustment, and fixed assets (including the related depreciation and amortization) , are now fully allocated to the Treasury segment. As a result, information across quarters is not strictly comparable. These changes impact on the Personal and Business, Corporate, and Treasury segments. Personal & Business Banking segment Through its Personal & Business Banking segment, Supervielle offers a comprehensive range of financial products and services tailored to meet the needs of individuals , small businesses and SMEs customers, which comprise individuals engaged in commercial activities, and small and medium-sized companies with revenues lower than Ps.10 billion per year . Products offered include local and foreign currency accounts, transfers and payments, personal loans, mortgage loans, commercial unsecured loans, loans with special facilities for project and working capital financing, leasing, salary advances, car loans, domestic and international factoring, international guarantees and letters of credit, payroll payment plan s, credit cards, debit cards, savings accounts, time deposits, checking accounts, financial services such as insurance and guarantees, investments such as mutual funds, and senior citizens benefit payments In 1Q25, the Bank focused on expanding its the customer base in the Mass Affluent, Identité and Senior Citizens Customers, reaching 41,356 total gross customer additions. The main goal is to improve margins and increase customer engagement and cross-selling, with a focus on profitable products such as personal and car loans. Furthermore, Supervielle continued to enhance its customers' everyday banking experience with enhanced digital solutions for investments, bill payments, top -ups, QR code payments, and installment plans for purchases, resulting in notable increases in key indicators. As of March 31, 2025 , 912,657 customers were digital, representing 68% of the segment’s portfolio. Loss before Income tax was AR$42.7 billion in 1Q25, compared to losses of AR$67.9 billion in 1Q24 and AR$28.0 billion in 4Q24. In 1Q2 5, Expenses amounted to AR$83.5 billion, declining 25.7% , or AR$28.8 billion , YoY, and 22.3%, or AR$24.0 billion, QoQ, reflecting efficiencies implemented in previous quarters. Fee income amounted to AR$23.5 billion in 1Q25 , increasing 28.6%, or AR$ 5.2 billion , YoY, and 3.1%, or AR$716.6 million, QoQ. This performance reflects the banking fee repricing above inflation partially offset by expenses paid to credit card processors. Loan Loss Provisions amounted to AR$32.5 billion in 1Q25 compared to AR$12.0 billion in 1Q24 and AR$15.4 billion in 4Q24. The QoQ performance reflects strong loan origination since 3Q24, together with provision releases Personal & Business Banking – Highlights (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 1Q25 4Q24 1Q24 QoQ YoY Income Statement Net Interest Income 67.058 96.158 80.946 -30,3% -17,2% NIIFI & Exchange rate differences 263 849 882 -69,0% -70,1% Net Financial Income 67.321 97.007 81.828 -30,6% -17,7% Net Service Fee Income 23.485 22.768 18.261 3,1% 28,6% Other Income (Expenses), net (17.218) (16.535) (19.944) 4,1% -13,7% Net Operating Revenue, before Loan Loss Provisions 73.588 103.240 80.145 -28,7% -8,2% RECPPC (306) (8.307) (23.677) -96,3% -98,7% Loan Loss Provisions (32.465) (15.407) (11.981) 110,7% 171,0% Profit / (Loss) before Income Tax (42.697) (27.998) (67.858) 52,5% -37,1% Attributable Net Income / (Loss) (27.731) (15.409) (43.984) 80,0% -37,0% Balance Sheet Loans (Net of LLP) 1.512.182 1.250.539 343.505 20,9% 340,2% Receivables from Financial Leases (Net of LLP 31.099 28.629 9.229 8,6% 237,0% Total Loan Portfolio (Net of LLP) 1.543.281 1.279.167 352.734 20,6% 337,5% Deposits 1.356.807 1.403.647 650.037 -3,3% 108,7% % Change
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41 recorded in the previous quarter as a more favorable macroeconomic outlook was applied to the expected credit loss model. Attributable Net Income (Loss) at the Personal & Business Banking segment was an AR$27.7 billion loss in 1Q25 compared to losses of AR$44.0 billion in 1Q24 and AR$15.4 billion in 4Q24. Personal & Business Banking segment loans (including receivables from financial leases and other financings) totaled AR$1,543.3 billion as of March 31, 2025, increasing 337.5% YoY and 20.6% QoQ. This segment’s strong YoY performance reflects the strategic shift in loan mix toward higher -yielding retail segments , supported by strong demand in car loans , where the Company holds the #2 market position in originations, as well as in personal loans, credit cards and mortgage loans. Deposits in the Personal & Business Banking segment increased 108.7% YoY and declined 3.3% QoQ. Corporate banking segment Through the Bank, Supervielle offers middle-market companies and large corporations (with annual sales exceeding AR$10 billion) a full range of products, services , and financing options including factoring, leasing, foreign trade finance and cash management and transactional services. In 2024, to maintain a healthy loan portfolio and control delinquency levels, the Bank further strengthened its focus on financial risk indicators, such as RAROC (Risk-Adjusted Return on Capital), which measures risk- adjusted profitability. In this regard, the Bank pursued a moderate credit appetite policy emphasizing efficient capital allocation, driving profitability through transactional relationships with clients. During 1Q25, Profit before Income Tax amounted to AR$4.1 billion, compared to AR$6.3 billion in 1Q24 and a loss of AR$78 million in 4Q24. In 1Q25, Expenses amounted to AR$12.0 billion, declining 31.9%, or AR$ 5.6 billion, YoY, and 27.4%, or AR$ 4.5 billion, QoQ reflecting efficiencies implemented in previous quarters. Loan loss provisions recorded an AR$808.6 million gain in 1Q25 compared to a loss of AR$423.6 million in 1Q24, and a loss of AR$1.9 billion in 4Q24. The QoQ performance is impacted by the release in provisions in 4Q24 following the update of macroeconomic variables in the ECL model which incorporated expectations of a more favorable macroeconomic outlook. The level of provisioning as of March 31, 2025, reflects the standards of IFRS9 expected loss models. Attributable Net Income (Loss) at the Corporate Banking segment was AR$2.6 billion loss in 1Q25 compared to AR$4.1 billion in 1Q24 and AR$489 million in 4Q24. Corporate segment loans (including receivables from financial leases and other financings) reached AR$ 899.7 billion as of March 31, 2025, increasing 109.8% YoY but decreasing 4.5% QoQ. The YoY performance reflects accelerated origination in corporate loans, mainly in working capital credit lines. Corporate Banking – Highlights (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 1Q25 4Q24 1Q24 QoQ YoY Income Statement Net Interest Income 14.614 19.335 33.408 -24,4% -56,3% NIIFI & Exchange rate differences 1.202 927 (62) na na Net Financial Income 15.817 20.262 33.346 -21,9% -52,6% Net Service Fee Income 3.216 3.659 3.069 -12,1% 4,8% Other Income (Expenses), net (3.804) (3.817) (6.463) -0,3% -41,1% Net Operating Revenue, before Loan Loss Provisions 15.228 20.104 29.952 -24,3% -49,2% RECPPC - (1.849) (5.641) -100,0% -100,0% Loan Loss Provisions 809 (1.852) (424) na na Profit / (Loss) before Income Tax 4.073 (78) 6.323 na na Attributable Net Income / (Loss) 2.648 489 4.146 441,4% -36,1% Balance Sheet Loans (Net of LLP) 721.553 767.435 352.819 -6,0% 104,5% Receivables from Financial Leases (Net of LLP 42.299 32.755 11.312 29,1% 273,9% Total Loan Portfolio (Net of LLP) 763.852 800.190 364.132 -4,5% 109,8% Loans and financing & off balance guarantees 899.713 991.068 541.512 -9,2% 66,1% Deposits 806.671 699.198 196.124 15,4% 311,3% % Change
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42 Total deposits from corporate customers amounted to AR$806.7 billion, increasing 311.3% YoY and 15.4% QoQ driven by higher balances in checking accounts, reflecting increased transactional volumes as the Company advances on its strategy to become the primary bank for more corporate clients. Treasury segment The Treasury segment is primarily responsible for allocati ng the Bank's liquidity in line with the needs and opportunities of both the Personal and Business Banking and the Corporate Banking segments, as well as the Treasury’s own requirements. The Treasury segment implements the Bank's financial risk management policies, manages the Bank's trading desk, and develops businesses with wholesale financial and non-financial clients. Profit before Income tax for the Treasury segment amounted to AR$29.3 billion, compared to AR$177.3 billion in 1Q24 and AR$34.0 billion in 4Q24. Performance reflects a decrease in Net Financial Income, mainly due to lower yields on government securities impacted by the sharp co rrection in treasury bonds prices amid the uncertainty before Argentina reached an agreement with the IMF, while 1Q24 had reported an extraordinarily high result on government securities. During 1Q25, the Treasury segment reported Attributable Net income of AR$20.8 billion, compared to AR$115.9 billion in 1Q24 and AR$33.7 billion in 4Q24. Insurance segment The Company operates its Insurance Segment through Supervielle Seguros S.A. and Supervielle Productores Asesores de Seguros S.A. (Supervielle Broker), collectively referred to as “Supervielle Seguros”. Supervielle Productores Asesores de Seguros was established in 2019 to expand the product offering to Banco Supervielle’s commercial clients and to market auto insurance for individuals. Products are tailored to meet the needs of individual clients and businesses, accessible via in-person and digital marketing channels, including the Bank's distribution network. Treasury Segment – Highlights (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 1Q25 4Q24 1Q24 QoQ YoY Income Statement Net Interest Income 69.309 39.126 211.792 77,1% -67,3% NIIFI & Exchange rate differences 12.937 30.179 38.277 -57,1% -66,2% Results from Recognition of Financial Instruments at amortized cost 3.937 3.943 81.075 -0,2% -95,1% Net Financial Income 86.182 73.248 331.145 17,7% -74,0% Other Income (Expenses), net (3.026) (11.077) (41.818) -72,7% -92,8% Net Operating Revenue, before Loan Loss Provisions 83.157 62.171 289.326 33,8% -71,3% RECPPC (33.871) (21.482) (102.526) 57,7% -67,0% Profit / (Loss) before Income Tax 29.305 33.954 177.251 -13,7% -83,5% Attributable Net Income / (Loss) 20.779 33.705 115.929 -38,4% -82,1% % Change Insurance Segment – Highlights (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 1Q25 4Q24 1Q24 QoQ YoY Net Financial Income 1.174 2.204 5.565 -46,8% -78,9% Net Service Fee Income 7.211 7.256 5.003 -0,6% 44,1% Other Income (Expenses), net 24 (16) (60) na na Net Operating Revenue, before Loan Loss Provisions 8.408 9.444 10.508 -11,0% -20,0% RECPPC (2.275) (2.248) (9.693) 1,2% -76,5% Profit before Income Tax 5.188 5.523 (508) -6,1% na Attributable Net Income 3.314 3.370 (888) -1,7% na Gross written premiums 12.019 13.137 9.946 -8,5% 20,8% Claims Paid 2.287 2.042 1.264 12,0% 80,9% Combined Ratio 59,1% 62,0% 65,8% % Change
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43 Profit (Loss) before Income tax of the Insurance segment in 1Q25 was a gain of AR$5.2 billion, compared to a loss of AR$507.7 million in 1Q24 and a gain of AR$5.5 billion in 4Q24. Attributable Net income (loss) in 1Q25 was a gain of AR$3.3 billion, compared to a loss of AR$887.9 million in 1Q24 and a gain of AR$3.4 billion in 4Q24. Gross written premiums, measured in the unit at the end of the reporting period, decreased 8.5% QoQ, while non-credit related policies declined 18.7%. Claims paid, measured in the unit at the end of the reporting period, increased AR$244.6 million. The Combined ratio was 59.1% in 1Q25, compared to 65.8% in 1Q24 and 62.0% in 4Q24. The QoQ performance is explained by a 15.1% decrease in general expenses partially offset by a 12.0% increase in claims paid and an 8.5% decline in gross written premiums in real terms. Asset Management & Other segments (includes IOL business) Supervielle offers a variety of other services to its customers, including mutual fund products under its Premier brand funds managed by Supervielle Asset Management (SAM); retail brokerage services through IOL; and non- financial products through Espacio Cordial Servicios. In 1Q25, Profit before Income tax for the Asset Management & Other segments amounted to AR$17.5 billion. The Asset Management & Other segments reported Net Income of AR$12.6 billion in 1Q25, compared to AR$5.6 billion in 1Q24, and AR$15.1 billion in 4Q24. Attributable Net Income includes AR$3.8 billion and AR$4.0 billion from IOL and SAM results respectively as of 1Q25. Brokerage fees totaled AR $11.8 billion, increasing 30.2% YoY. or AR$ 2.7 billion , and declining sequentially by 5.2%, or AR$ 645.1 million, due to the decrease in transactions. Gross written premiums by product (in million) 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ YoY Mortgage Insurance 680,5 1.243,9 748,4 558,0 439,1 -45,3% 55,0% Personal accident Insurance 405,0 405,1 373,2 301,8 278,9 0,0% 45,2% Protected Bag Insurance 1.055,2 1.152,9 1.222,7 1.387,4 1.262,9 -8,5% -16,4% Broken Bones 184,4 195,1 190,1 151,7 150,8 -5,5% 22,3% Others 648,2 1.213,0 281,7 254,8 221,4 -46,6% 192,7% Home Insurance 1.882,8 1.883,4 1.807,2 1.762,5 2.024,0 0,0% -7,0% Technology Insurance 638,1 701,7 756,1 746,0 899,5 -9,1% -29,1% ATM Insurance 484,3 559,4 646,1 594,1 530,2 -13,4% -8,7% Life Insurance 6.040,7 5.782,5 5.412,2 4.336,4 4.139,6 4,5% 45,9% Total 12.019,3 13.136,9 11.437,6 10.092,8 9.946,5 -8,5% 20,8% % Change Asset Management & Others Segment Highlights (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) 1Q25 4Q24 1Q24 QoQ YoY Net Interest Income (3.004) 756 2.767 -497,2% na NIIFI & Exchange rate differences 7.482 6.222 5.406 20,3% 38,4% Net Financial Income 4.478 6.978 8.172 -35,8% -45,2% Net Service Fee Income 19.939 20.439 14.434 -2,4% 38,1% Other Income (Expenses), net 1.738 481 1.419 261,3% na Net Operating Revenue, before Loan Loss Provisions 26.155 27.898 24.025 -6,2% 8,9% RECPPC (4.804) (5.343) (10.792) -10,1% -55,5% Profit before Income Tax 17.493 19.748 6.575 -11,4% 166,0% Attributable Net Income 12.647 15.076 5.624 -16,1% 124,9% SAM-Assets Under Management (nominal terms) 1.294.459 1.385.808 661.270 -6,6% 95,8% SAM. Market Share 2,0% 2,4% 2,1% IOL-Assets Under Management (nominal terms) 2.261.892 2.048.802 908.160 10,4% 149,1% IOL-Active Customers 603.000 569.116 492.661 6,0% 22,4% IOL-Daily Average Revenue Trades (nominal terms) 94.496 96.923 96.283 -2,5% -1,9% % Change
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44 Fee income from the Online Retail Brokerage Business, developed through IOL, represented 20.5% of total fee income, compared to 19.8% in 1Q24 and 21.8% in 4Q24. In 1Q25, the Online Brokerage Business, operated through IOL, continued to expand its customer base, adding 154,141 new accounts, and reaching 1.6 million accounts as of March 2025. In turn, active customers reached 603,000, up from 492,661 as of March 31, 2024. Assets Under Custody (AuC) increased 149.1% YoY in nominal terms and 59.7% in real terms . QoQ, AuC increased 10.4% in nominal terms and 1.7% in real terms. As of March 31, 202 5, the Asset Management Business operated through the Company’s subsidiary, SAM, recorded AR$1,294.5 billion in Assets Under Management (AuM) in nominal terms, up from AR$661.3 billion as of March 31, 2023, and declining from AR$1,385.8 billion as of December 31 , 2024. Fees from the Asset Management business represented 13.3% of total Fee Income, compared to 9.7% in 1Q24, and amounted to AR$7.7 billion in 1Q25, increasing AR$3.2 billion from 1Q25 and AR$208.0 million from 4Q24. Results by subsidiaries The table below presents information about the Attributable Net Income by subsidiaries in 1Q25, 4Q24 and 1Q24: Credit ratings Banco Supervielle Credit Ratings 1. On January 27, 2025, Moody´s ratings assigned a long- and short-term local and foreign currency bank deposit ratings of Caa2 to Banco Supervielle. The outlook on the long-term bank deposit is stable. 2. On May 19, 2025, Fitch Ratings upgraded the Bank’s Foreign Currency and Local Currency Long-Term Issuer Default Ratings (IDRs) to CCC+ from CCC. 3. On November 22, 2024, Moody’s Local Argentina assigned long-term ratings of AA+.ar in both local and foreign currency to the Bank and its deposits, and a short-term rating of ML A-1.ar to the Bank and its deposits in both local and foreign currency. The outlook for the long-term ratings is stable. Moody’s also assigned a short -term rating of ML A -1.ar in foreign currency to the Class I, J, K and P Negotiable Obligations issued, maturing in May, July, August 2025 and November, respectively. Likewise, a short- term rating of ML A-1.ar in local currency was assigned to the outstanding Class H, L, M and N Negotiable Obligations, maturing in August 2025, February 2026, March 2026 and November 2025, respectively. Key Events During the Quarter Corporate Notes issued during the quarter On January 14, 2025, the Bank issued its Class J Negotiable Obligations denominated in US$ totaling US$50 million, with a 6-month maturity and a fixed interest rate of 4.18%. The Class J corporate bonds will mature on July 14, 2025. On February 7, 2025, the Bank issued its Class K Negotiable Obligations denominated in US$, totaling US$28,4 million, with a 6 -month maturity and a fixed interest rate of 4.15%. The Class K Obligations will mature on Net Income by Subsidiaries (in millions of Argentine Ps.) 1Q25 4Q24 1Q24 Banco Supervielle (4.226) 18.024 75.578 IOL (Invertironline) 3.792 3.368 1.662 SAM (Asset Management) 3.994 4.285 3.832 Seguros (Insurance) 3.314 3.370 (888) MILA (Car loans) 39 98 447 SPV Agente Negociación (117) 664 66 Holding company (standalone) 352 (561) (7.134) Adjustments & Others 790 1.265 (1.027) Net Income 7.938 30.513 72.536
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45 August 7, 2025. On the same date, the Bank issued its Class L Negotiable Obligations denominated in AR$, of AR$50.9 billion, with a 12-month maturity and a floating interest rate of TAMAR + 2.75%. The Class L corporate bonds will mature on February 7, 2026. On March 7, 2025, the Bank issued its Class M Negotiable Obligations denominated in AR$, of AR$30.6 billion, with a 12-month maturity and a floating interest rate of TAMAR + 2.75%. The Class M corporate bonds will mature on March 7, 2026. Subsequent Events Dividends paid by Grupo Supervielle Subsidiaries Following the resolution taken by the Shareholders meeting of SAM, in April 2025, Grupo Supervielle received a dividend of AR$ 14.6 billion. Following the resolution taken by the Shareholders meeting of Supervielle Seguros, in April and May 2025, Grupo Supervielle received a dividend of AR$ 8.6 billion. Following the resolution taken by the Shareholders meeting of Sofital, in May 2025, Grupo Supervielle received a dividend of AR$ 1.6 billion. Sale of own shares in accordance with Article 67 of the Capital Market Law and the Regulations of the National Securities Commission (Comisión Nacional de Valores) On January 22, 2025, Grupo Supervielle´s Board of Directors approved the sale of up to 4,567,223 Grupo Supervielle Class B shares in its portfolio, in accordance with the provisions of Article 67 of Law 26,831, and the regulations of the National Securities Commission (CNV). This decision was based on the following considerations: i) the period between August 2025 and April 2026 marks the maximum term for the disposal of these shares in accordance with the aforementioned law, ii) market conditions present an opportunity to enhance liquidity in the market, which had previously been affected by share repurchases and, iii) the proceeds from the sale could be allocated to make capital contributions to controlled company in a viable and efficient alternative for the benefit the Company and its shareholders. As of the date hereof, the Company did not sell any shares in connection with this approval. As of the date of this earnings release, Grupo Supervielle holds a total of 18,991,157 Class B shares, representing 4.1581% of the Company's share capital. Supervielle, the first bank to pay interest in pesos and dollars on Payroll Accounts and SMEs On April 3, 2025, Supervielle, the main subsidiary of Grupo Supervielle, unveiled a new visual identity and brand positioning, under the slogan “Te sigue el ritmo” (“It keeps up with you”) . This rebranding reflects a deep er transformation aligned with evolving customer expectations: speed, simplicity and dynamism financial solutions. More than a visual update, this shift signals the Bank’s commitment to innovation and technology, marking a new era aimed at delivering a more agile, modern, and client-centric banking experience. In this context, Supervielle launched the first Payroll accounts and SME accounts that pay interest in both pesos and dollars, with daily interest. Supervielle positions itself as the only bank in Argentina that pays interest on both Payroll Accounts and SME accounts in both currencies. For the Remunerated Payroll Account, the bank offers an interest rate of 32% NAR in pesos up to AR$1,000,000 and 2% NAR in dollars, where every peso and every dollar automatically generates interest every day. For the Remunerated +Pyme Account, specially designed for small and medium -sized businesses, it offers an interest rate of 18% NAR in pesos for balances over AR$25,000,000 and 1.5% NAR in dollars. This proposal aims to optimize the daily liquidity of SMEs. Moreover, by offering their employees the option to receive their salary at Supervielle, SMEs gain a differential benefit that strengthens the relationship and loyalty of their employees.
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46 Dividend payment to Grupo Supervielle Shareholders Following the resolution of the Annual Ordinary and Extraordinary Shareholders Meeting and the subsequent Board of Directors meeting, both dated April 22, 2025, it was resolved the release of the voluntary reserve established for dividends distribution approved by the Board of Directors on April 22, 2025, and in accordance with the provisions of General Resolution No. 777/18 of the Argentine Securities Commission which establishes that “the distribution of profits must be treated in the currency of the date of its declaration, in this case, by using the price index corresponding to the month of March 2025”, a cash dividend of AR$ 27,137,438,447 was made available and paid to existing shareholders in the Company's share registry as of April 29, 2025 (the “Record Date”), starting on April 30, 2025, or on such later date as determined by the applicable regulations in the jurisdiction where the Company' s shares are listed. The amount distributed was equivalent to 6,199.567363909% of the capital as of the Record Date of AR$437,731,165 (said capital excludes shares held by the Company’s treasury), and to AR$61.99567363909 for each outstanding share and AR$ 309.97836819547 per American Depositary Share (“ADS”). Payment to Shareholders of Class A and B were available through Caja de Valores S.A. starting on April 30, 2025, subject to compliance with all required procedures. The payment process w as carried out in accordance with the regulatory deadlines. Holders of ADSs received their payment through the depositary bank, The Bank of New York Mellon, from the date set forth by application of the regulations in force for the conversion of said portion into foreign currency, if applicable, and the rules that apply in the jurisdiction where the Company's ADSs are listed. The distribution of dividends is originated in profits obtained from 2018 and, therefore, it is subject to withholding of 7% according to the provisions of the Income Tax Law, ordered text Decree No. 824/2019. Dividends paid were subject to the withholding, in the relevant cases, of the amounts paid for the fiscal year 2024 by the Company in its capacity as Substitute Person Responsible for the Personal Assets Tax, in the case of those shareholders that are subject to said tax, pu rsuant to the terms of the last paragraph of the article incorporated by Law No. 25,585 following article 25 of Law No. 23,966. Supervielle Launched Its Official Online Store on Mercado Libre On May 8, 2025, Grupo Supervielle announced that its main subsidiary, Supervielle launched its official market place Tienda Supervielle on Mercado Libre, the largest e-commerce platform in Latin America. With this move, Supervielle became the first bank to have its own store within this platform, furthering its goal of offering products tailored to its customers’ needs. Supervielle customers will be able to access over 100,000 products directly through the Supervielle App or via Mercado Libre, across categories such as technology, home appliances, fashion, home, and sports. All products come with exclusive discounts, free nationwide shipping, and interest-free installment options. Grupo Supervielle announced the launch of a Stock Option Plan On May 9, 2025, Grupo Supervielle , announced that it has approved the launch of a Stock Option Plan (the “Plan”) aimed at certain employees and key officers of the Company and its controlled companies. The purpose of the Plan is to align the performance of such collaborators with the strategic objec tives of the Company, strengthen talent retention, and promote a culture of commitment, innovation, and long-term sustainable value creation for its shareholders. Through the granting of options to purchase Company shares at a set price and within a specific period, the Plan offers its participants the unique opportunity to share in the future success of the Company. This initiative seeks to encourage a “founder’s m indset” in those leaders who, due to their impact, capability, and commitment, contribute significantly to the growth of the business.
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47 The Plan was approved by the Company’s Board of Directors at its meeting held on May 7, 2025, pursuant to the powers delegated by the Ordinary and Extraordinary General Shareholders’ Meeting held on April 19, 2024. Corporate Notes Issuances On May 12, 2025, the Bank issued its Class N Negotiable Obligations denominated in AR$, of AR$48.2 billion, with a 6-month maturity and a floating interest rate of TAMAR + 3.50%. The Class N corporate bonds will mature on November 12, 2025. On May 26, 2025, the Bank issued its Class P Negotiable Obligations denominated in US$, of US$59.5 million, with a 6-month maturity and a fixed interest rate of 4.50%. The Class P corporate bonds will mature on November 26, 2025. Increase of the Maximum Amount of the Global Note Issuance Program On May 22, 2025, Banco Supervielle S.A. increased the maximum amount of its Global Program for the issuance of simple non-convertible notes from US$ 300 million to US$ 1 billion (or their equivalent in other currencies or value units). Appendix Appendix I: Investment Securities Classification and Accounting Methodology Below is a breakdown of the securities portfolio held as of March 31, 2025, between securities held for trading purposes, securities held to maturity, and securities available for sale. 1. Includes securities denominated in AR$ and US$ 2. Includes AR$277 billion of government securities setting up Minimum reserve requirements. 3. Boncer in Guarantee On July 11, 2024, the Central Bank, through Communication 8060 suspend ed since July 22, 2024, the auction of new passive repo operations. From that date onwards, financial entities could purchase "Fiscal Liquidity Letters" (LEFI) issued by the National Government from the Central Bank of the Argentine Republic. The accounting methodology is different for each security class. a) Amortized cost (“Held to maturity”): Assets measured at amortized cost are those held for the purpose of collecting contractual cash flows. Interest income is recognized in net interest margin. Assets in this category include the Company’s loan portfolio and certain government and corporate securities. b) Fair value through other comprehensive income (“Available for sale”): Assets measured at fair value through other comprehensive income are those held for the purpose of both collecting contractual cash flows Securities Breakdown1 (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) mar 25 dec 24 sep 24 jun 24 mar 24 Held for trading 175.734,4 271.470,1 272.020,2 237.727,9 124.828,1 Government Securities 154.188,7 251.863,1 257.471,0 225.228,5 111.901,4 Securities Issued by the Central Bank 1.167,7 1.121,0 1.386,0 1.479,0 3.517,0 Corporate Securities 20.378,0 18.486,0 14.549,1 12.499,4 12.926,8 Held to maturity 976.245,2 690.117,1 836.838,3 1.243.561,4 381.621,1 Government Securities2 975.075,3 688.809,4 835.081,1 1.237.248,7 378.832,2 Securities Issued by the Central Bank - - 478,3 503,6 2.099,0 Corporate Securities 1.169,9 1.307,7 1.278,8 5.809,1 689,9 Available for sale 360.328,3 241.184,8 76.726,5 67.534,8 66.420,2 Government Securities 254.623,4 122.166,1 835,5 9.930,7 21.359,8 Securities Issued by the Central Bank - - - - - Corporate Securities 105.705,0 119.018,7 75.891,0 57.604,1 45.060,4 Total 1.512.307,9 1.202.772,0 1.185.584,9 1.548.824,1 572.869,5 Repo transactions 3.052,2 - 23.828,0 284.908,1 1.300.171,7 AR$ Gov Sec, in Guarantee3 16.761,4 115.588,9 65.766,8 38.814,0 38.893,7 Total (incl. US$ Gov Sec. in Guarantee) 1.532.121,5 1.318.674,2 1.275.451,5 1.872.872,0 1.911.935,0
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48 and selling financial assets. Interest income is recognized in net interest margin in the income statement, while changes in fair value are recognized in other comprehensive income. c) Fair value through profit or loss (“Held for trading”): Assets measured at fair value through profit or loss are those held for the purpose of trading financial assets. Changes in fair value are recognized in the "Net income from financial instruments" line item of the income statement. Appendix II: Assets & Liabilities. Repricing dynamics As of March 31, 2025, AR$ liabilities repriced on average in 20 days compared to 23 days as of the close of the previous quarter. Portfolio repricing dynamics as of March 2025, show that AR$ total Assets are fully repriced in 189 days, while AR$ loans are fully repriced in an average term of approximately 249 days. ASSETS AR$ Avg. Repricing (days) % of total AR$ Assets Avg. Repricing (days) % of total AR$ Assets Avg. Repricin g (days) % of total AR$ Assets Avg. Repricing (days) % of total AR$ Assets Avg. Repricing (days) % of total AR$ Assets Total AR$ Assets 189 201 171 149 62 Cash 1 0% 1 0% 1 0% 3 0% 1 0% Cash (without interest rate risk) 7% 6% 4% 2% 2% Government & Corporate Securities 37 29% 124 27% 119 31% 94 36% 19 14% Total AR$ Loans 249 232 200 152 98 Promissory Notes 48 7% 54 9% 58 6% 44 6% 33 6% Corporate Unsecured Loans 84 6% 93 7% 115 7% 116 8% 107 4% Mortgage 1 7% 1 8% 1 6% 3 4% 1 4% Personal Loans 728 10% 791 8% 781 6% 712 4% 451 3% Auto Loans 393 6% 439 5% 467 4% 412 2% 404 1% Credit Cards 113 7% 115 8% 72 6% 60 5% 51 4% Overdraft 41 3% 32 2% 47 7% 31 6% 28 5% Other Loans 72 1% 64 1% 79 1% 101 1% 59 0% Receivable From Financial Leases 754 2% 735 2% 658 2% 498 1% 511 1% Other Assets (without interest rate risk) 3% 2% 5% 3% 1% US$ Avg. Repricing (days) % of total US$ Assets Avg. Repricing (days) % of total US$ Assets Avg. Repricin g (days) % of total US$ Assets Avg. Repricing (days) % of total US$ Assets Avg. Repricing (days) % of total US$ Assets Total US$ Assets 133 243 106 164 178 Cash 1 10% 1 12% 1 15% 3 15% 1 16% Cash (without interest rate risk) 44% 36% 57% 32% 45% Government & Corporate Securities 65 14% 664 12% 34 7% 145 14% 138 12% Total US$ Loans 199 32% 185 39% 196 21% 246 34% 320 24% Receivable From Financial Leases 181 1% 203 1% 262 1% 276 0% 218 1% Other Assets (without interest rate risk) 0% 0% 0% 1% 1% LIABILITIES AR$ Avg. Repricing (days) % of total AR$ Liabilities Avg. Repricing (days) % of total AR$ Liabilities Avg. Repricin g (days) % of total AR$ Liabilities Avg. Repricing (days) % of total AR$ Liabilities Avg. Repricing (days) % of total AR$ Liabilities Total AR$ Liabilities 20 23 17 23 33 Deposits 20 84% 23 84% 16 79% 9 84% 20 84% Private Sector Deposits 80% 79% 74% 79% 80% Checking Accounts (without interest rate risk) 0 21% 0 27% 0 22% 0 25% 0 18% Special Checking Accounts 1 32% 1 24% 1 31% 3 31% 1 29% Time Deposits 31 23% 30 22% 19 17% 21 16% 22 21% Cancellable before maturity Time Deposit 115 4% 86 6% 142 3% 10 7% 62 12% Public Sector Deposits 23 4% 18 5% 21 5% 21 5% 29 5% Other Sources of funding 0 6% 0 7% 0 9% 2,182 0% 2,133 0% Other Liabilities (without interest rate risk) 3% 5% 7% 7% 5% US$ Avg. Repricing (days) % of total US$ Liabilities Avg. Repricing (days) % of total US$ Liabilities Avg. Repricin g (days) % of total US$ Liabilities Avg. Repricing (days) % of total US$ Liabilities Avg. Repricing (days) % of total US$ Liabilities Total U$S Liabilities 59 47 76 47 47 Deposits 83 83% 43 91% 83 93% 39 84% 26 83% Private Sector Deposits 83 83% 71 83% 83 92% 39 82% 26 80% Checking Accounts (without interest rate risk) 68% 73% 80% 75% 70% Special Checking Accounts 3 1% 3 3% 3 1% 3 2% 3 3% Time Deposits 88 14% 100 7% 92 11% 48 6% 38 7% Public Sector Deposits 4 0% 0 8% 4 1% 25 2% 27 2% Other Sources of funding 0 0% 0 0% 0 0% 0 0% 0 0% Subordinated Negotiable Obligations 0 0% 0 0% 0 0% 0 0% 0 0% mar 25 dec 24 sep 24 mar-24jun 24
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49 Appendix III: Definition of Ratios Net Interest Margin: Net interest income + Net income from financial instruments at fair value through profit or loss + Result from recognition of assets measured at amortized cost + Exchange rate differences on gold and foreign currency, divided by average interest-earning assets. Net Fee Income Ratio: Net services fee income + Income from insurance activities divided by the sum of Net interest income + Net income from financial instruments at fair value through profit or loss + Result from recognition of assets measured at amortized cost + Exchange rate differences on gold and foreign currency, net services fee income, income from insurance activities, other net operating income and turnover tax. ROAE: Attributable Net Income divided by average shareholders’ equity, calculated daily and measured in local currency. ROAA: Attributable Net Income divided by average assets, calculated daily and measured in local currency. Efficiency Ratio: Personnel, Administrative expenses and Depreciation & Amortization divided by the sum of Net interest income + Net income from financial instruments at fair value through profit or loss + Result from recognition of assets measured at amortized cost + Exchange rate differences on gold and foreign currency, net services fee income, income from insurance activities, other net operating income and turnover tax. Loans to Total Deposits: Loans and Leasing before allowances divided by total deposits. Regulatory Capital/ Risk Weighted Assets: Regulatory capital divided by risk weighted assets. Cost of Risk: Annualized loan loss provisions divided by total financing (Loans, Leasing, and off -balance guarantees granted to corporate customers as guaranteed SMEs bonds, “Pagarés Bursátiles” and foreign trade transactions as of the end of the reported period). Cost of Risk, net: Annualized loan loss provisions + Credits recovered and disaffected provisions divided by total financing as of the end of the reported period.
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50 Appendix IV: Banco Supervielle Financial Figures & Key Ratios 1. Average Assets and average Shareholders’ Equity calculated on a daily basis. 2. Loans and Leasing before Allowances. Appendix V: Regulatory Environment The following table provides a summary of the most relevant regulations currently in place impacting the Company. A more detailed description of these regulations is also included hereunder, grouped by topic , to facilitate understanding. Regulation Description Limit Monetary Policy Rate LEFI 29.0% Deposits Minimum Interest Rate Minimum Interest Rate No minimum interest rate, since March 11, 2024 Active interest rates Badlar TAMAR (30days Time Deposits above AR$1 billion) Badlar: 33.50% as of May 23, 2025 Tamar: 34.56% as of May 23, 2025 Cap on Credit Cards Financing Limit 125% over the previous month's average lending rate of the entity for unsecured personal loans. UVA. Mortgage Loans Installment limit UVA loan to be paid may not exceed 35% of customer monthly income Highlights (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) INCOME STATEMENT 1Q25 4Q24 3Q24 2Q24 1Q24 QoQ YoY Net Interest Income 151.315 154.675 159.664 218.682 325.570 -2,2% -53,5% NIFFI & Exchange Rate Differences 17.130 34.007 21.465 36.610 118.432 -49,6% -85,5% Net Financial Income 168.445 188.682 181.129 255.292 444.002 -10,7% -62,1% Net Service Fee Income 26.183 25.459 24.611 19.568 19.673 2,8% 33,1% RECPPC -33.484 -31.047 -46.191 -65.292 -129.399 7,9% -74,1% Loan Loss Provisions -31.821 -17.591 -12.070 -15.368 -12.438 80,9% 155,8% Personnel & Administrative Expenses -100.781 -115.258 -114.528 -113.736 -125.357 -12,6% -19,6% Profit (Loss) before income tax -9.182 4.576 -6.832 25.423 114.966 na na Attributable Net income (Loss) -4.226 18.023 -2.302 12.119 75.554 na na BALANCE SHEET mar 25 dec 24 sep 24 jun 24 mar 24 QoQ YoY Total Assets 5.071.665 4.659.534 4.505.960 4.227.504 3.814.401 8,8% 33,0% Average Assets 1 4.719.079 4.509.525 4.158.247 3.749.297 3.814.758 4,6% 23,7% Total Loans & Leasing 2 2.466.562 2.400.666 1.882.929 1.641.524 1.207.832 2,7% 104,2% Total Deposits 3.710.342 3.445.697 3.228.072 2.757.723 2.769.718 7,7% 34,0% Attributable Shareholders’ Equity 719.326 725.714 709.968 711.381 702.015 -0,9% 2,5% Average Attributable Shareholders’ Equity1 725.194 744.373 728.268 766.394 668.125 -2,6% 8,5% % Change KEY INDICATORS 1Q25 4Q24 3Q24 2Q24 1Q24 Profitability & Efficiency ROAE -2,3% 9,7% -1,3% 6,3% 45,2% ROAA -0,4% 1,6% -0,2% 1,3% 7,9% Net Interest Margin (NIM) 19,4% 24,4% 24,4% 35,6% 61,0% Net Fee Income Ratio 13,5% 11,9% 12,0% 7,1% 4,2% Cost / Assets 9,7% 11,5% 12,3% 13,6% 14,6% Efficiency Ratio 67,1% 70,9% 71,4% 54,5% 35,1% Liquidity & Capital Total Loans to Total Deposits 66,5% 69,7% 58,3% 59,5% 43,6% Total Equity / Total Assets 14,2% 15,6% 15,8% 16,8% 18,4% Total Capital / Risk weighted assets 15,3% 16,1% 19,2% 21,3% 25,2% CET 1 / Risk weighted assets 15,3% 16,1% 19,2% 21,3% 25,2% Risk Weighted Assets / Total Assets 81,2% 80,8% 73,5% 71,0% 61,0% Asset Quality NPL Ratio 2,0% 1,3% 0,8% 0,8% 1,1% Allowances as a % of Total Loans 3,0% 2,1% 2,4% 2,4% 2,8% Coverage Ratio 152,7% 169,2% 281,7% 302,9% 263,7% Cost of Risk 5,0% 2,5% 2,7% 3,8% 4,1% Net Cost of Risk 4,8% 2,2% 2,4% 3,6% 3,8%
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51 Limit to Public Sector Financing Exceptions Limit: 75% of Regulatory Capital. Exception from the limits for financing the non-financial public sector: • Government securities whose liquidity option arranged with the Central Bank of the Argentine Republic were rescinded. • National treasury Capitalizable notes which are subscribed primarily for own portfolios from May 16, 2024 up to an amount equivalent to the accumulated reduction in the balance of passive repos balances with the Central Bank recorded on May 15, 2024 and up to the date of integration of such LECAP. • National Treasury Capitalizable Notes in Pesos" (LECAP) acquired in the secondary market from July 5, 2024 onwards. • Fiscal Liquidity Letters" (LeFi) acquired by financial entities Dividends by Financial Entities Prohibition of payment On March 13, 2025, the Central authorized Banks to distribute up to 60% of the accumulated retained earnings Net Global Position (NGP) Special cash position NGP may not exceed the minimum between the cash position as of November 4, 2021, and the monthly average of daily balances registered in October 2021, without considering the securities issued by residents that had been considered. Excluding this special cash position, NGP is limited to a 4% maximum long position. Liquidity Ratios Liquidity Coverage Ratio Net Stable Funding Ratio LCR>=1 NSFR>=1 Interest Rates On December 18, 2023, the Central Bank discontinue d LELIQ auctions, making passive repo transactions its primary instrument for absorbing monetary surpluses. On July 11, 2024, the Central Bank, issued Communication 8060, announcing the suspension of new passive repo operations starting July 22, 2024. From that date onwards, financial institutions have the option to purchase "Fiscal Liquidity Letters" (LEFI) issued by the National Government through Argentina’s Central Bank. Financial entities shall inform, by the close of the MEP (Mercado Electrónico de Pagos) system, the amount of the peso current account balance they wish to maintain as a base balance. Any amount exceeding this informed balance will be considered an instruction to purchase and will be applied towards acquiring the aforementioned instruments. • Time Deposits Minimum Rate: From April 20, 2020, and until March 12, 2024, the Central Bank ruled minimum interest rates to be paid by financial institutions to time deposits. As of December 31, 2023, the minimum interest rate for time deposits was 110%. On March 12, 2024, the Central Bank established that the interest rate to be paid to Time Deposits should be freely agreed upon by the parties. • Repo transactions Interest Rates o On March 12, 2024, the 1-day term passive rate with financial institutions was reduced to 80%. o On April 11, 2024, the 1-day term passive rate with financial institutions was reduced to 70%. o On April 25, 2024, the 1-day term passive rate with financial institutions was reduced to 60%. o On May 2, 2024, the 1-day term passive rate with financial institutions was reduced to 50%. o On May 14, 2024, the 1-day term passive rate with financial institutions was reduced to 40%. o On July 22, 2024, the Central Bank discontinued auctions of 1 -day term passive repo transactions, taking as a reference the LEFI interest rate for monetary policy interest rate.
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52 • Monetary policy rate o On November 1, 2024, the Central Bank reduced the monetary policy rate from 40% to 35% nominal annual rate. o On December 6, 2024, the Central Bank reduced the monetary policy rate from 35% to 3 2% nominal annual rate. o On January 31, 2025, the Central Bank reduced the monetary policy rate from 3 2% to 29% nominal annual rate. • Tamar On November 7, 2024, the Central Bank announced a new interest rate, the Argentine Wholesale Rate (TAMAR). This rate is calculated based on fixed-time deposits of AR$1 billion or more, with maturities ranging between 30 to 35 days. The TAMAR has been published since December 2, 2024. Unlike other benchmark interest rates, such as BADLAR and TM20, the distinctive feature of TAMAR is that the minimum amount of eligible deposits for its calculation is updated annually. • Credit Card Financing Maximum Interest Rates The Central Bank established that the limit on Compensatory Interest for Financing linked to credit cards shall not apply when the account balance for the month records financing in foreign currency greater than US$ 200. The interest rate may not exceed 25% of the rate applied to personal loan credit lines for customers. On June 30, 2022, the Central Bank, through Com A 7535 established that financial entities and non- financial credit providers will not be able to finance in installments the purchases of their customers of tickets to travel abroad, tourist services abroad and products abroad that are received through the postal delivery system without commercial purpose. Credit Lines and Loans to SMEs Incentives to SMEs Financing: 1) In March 2024, the Board of the Central Bank of Argentin a established a New Regulatory Scheme for Incentives to SMEs Financing, which became effecting in April 2024. This simplified scheme encourages credit assistance through reductions in reserve requirements. Under this framework, financial institutions could benefit from reductions in their minimum cash requirements (reserves) if their average balance of SME loans represented at least 7.5% of their non - financial private sector in pesos. Additionally, at least 30% of this financing should be allocated to investment projects with a minimum average term of 24 months. Interest rates were freely negotiated between the parties. To further promote longer-term loans , the regulation also introduced an additional incentive: financial institutions that provide financing for SME investment projects with an average term of 36 months or more are allowed to reduce 40% of the financing amount from their minimum cash requirement. However, since January 1, 2025, this incentive only applies to the residual portfolio and is no longer available for loans originated since then. UVA loans • Through Communication “B” 12123 and Communication “A” 7270 the Central Bank, established that financial institutions should enable an instance to consider the situation of those customers in which the installment of the UVA loan to be paid exceeds 35% of their monthly income. • On June 7, 2024, through General Resolution 1004, the CNV (Comisión Nacional de Valores) exempted operations involving the sale of negotiable securities settled in foreign currency and in local jurisdiction (Dolar MEP) using funds from UVA mortgage credits, up to the amount of said credits.
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53 Limit to Public Sector financing Since March 2023 (Communication A 7716), the Central Bank offered financial institutions liquidity options on certain public securities issued by the national government, which were acquired by financial entities through primary subscription . Following Com munication A 7921, government securities that were held by financial institutions and for which they had a liquidity option issued by the Central Bank, were exempt from the credit limits outlined by the regulation on financing to the non-financial public sector. On July 16, 2024, through Com munication B 12847, the Central bank offered the possibility to rescind the liquidity options of public securities. On May 16, 2024, through Communication A 8020, the Central Bank allowed banks to exclude from the credit limits established for non -financial public sector holdings the "Treasury Bills Capitalizable in Pesos" (LECAP) subscribed primarily for own portfolios from May 16, 2024 up to an amount equ ivalent to the accumulated reduction in the balance of passive repos balances with the Central Bank recorded on May 15, 2024 and up to the date of integration of such LECAP. As a result, the Company reduced its Central Bank Securities balance and increased the balance of LECAPs. Through Communication A 8063, the Central Bank established that Government securities whose liquidity option arranged with the Central Bank of the Argentine Republic were rescinded, were exempt from the credit limits established for non-financial public sector. Through Communication A 8058, the Central Bank established that the "National Treasury Capitalizable Notes in Pesos" (LECAP) acquired in the secondary market from July 5, 2024 onwards may also be exempt from the credit limits for financing the non-financial public sector. Through Communication A 8061, the Central Bank established that the "Fiscal Liquidity Letters" (LeFi) acquired by financial entities are exempt from the credit limits established for non-financial public sector. Removal of Restrictions on Foreign Currency Financing On February 20, 2025, through Communication A 8202, t he Central Bank of Argentina (BCRA) has repealed section 1.4 of the "Credit Policy" regulations, which previously restricted the use of foreign currency financing sourced from external credit lines and foreign currency bonds. Under the previous rule, such financing was exclusively designated for exporters. Minimum Cash Reserve Requirements Amid the Covid-19 pandemic outbreak, the Central Bank eased minimum cash reserve requirements by increasing the amount of deductions allowed to reduce reserve requirements. And since then, the Central Bank ruled additional deductions allowed to reduce reserve requirements, most of which were in force until December 31, 2024. Most relevant deductions include: Deduction Loans granted (balances) to MiPyMES Reserve requirement 3.75% of total Deposits Total Loans Only residual portfolio. No new loans allowed after January 1, 2025. 20% since April 1, 2025 (previously: 40%) Aggregate financings in Pesos granted under the “Ahora 12” program, with a limit of 6% over the items in Pesos subject to the Central Bank Rules of Minimum Cash To those loans granted since March 22, 2024 Only residual portfolio. No new loans allowed after January 1, 2025. 7.5% since April 1, 2025 (previously: 15%)
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54 Loans granted in the previous months to individuals and SMEs which were not included by financial entities in the "Central de Deudores” -debtors of the financial system- Since March 2024 Only residual portfolio. No new loans allowed after January 1, 2025 25% since April 1, 2025. (previously: 50%) Note: 1 Effective from July 1,2020, also applies to loans granted to non-SMEs clients, if those funds are invested for the acquisition of machinery and equipment produced by local SMEs. On May 28, 2021, through Communication A 7295, the Central Bank established that Treasury bonds in pesos with a minimum duration of 180 days may also be used to set up minimum reserve requirements. On September 22, 2022, through Com munication A 7611 the Central Bank established that National Treasury bonds in pesos maturing on May 23, 2027 , may be used to set up 40% minimum reserve requirement for deposits constituted by Payment Service Providers (PSPs). On September 27, 2022, through Communication A 7614, the Central Bank established that the Dual Bonds may be used to set up minimum reserve requirements up to the limit allowed to be set up with Leliqs. Dual bonds should be valued at mark to market. On May 2, 2024, through Communication A 8000, the Central Bank increased to 15% from 10% the minimum reserve requirement on Special Checking accounts to be set up in cash . Moreover, the Central Bank also established the same reserve requirement coefficient of 15% to passive stock repurchase agreements taken by financial institutions with a residual term of up to 29 days. On January 30 , 202 5, through Communication A 8 189, the Central Bank increased to 20% from 15% the minimum reserve requirement on Special Checking accounts to be set up in cash. On November 22, 2024, through Com munication A 8134, the Central Bank resolved to expand the means for financial institutions to meet the minimum cash requirement by allowing them to use, in addition to the previously authorized National Treasury Bonds, other government securities denominated in pesos, including those indexed to CER and DUAL Bonds, but excluding those linked to the U.S. dollar and LeFi. These instruments must comply with specific residual maturity terms based on the subscription date, provid ing greater flexibility to meet regulatory requirements. On December 19, 2024, the Central Bank, through Com munication A 8159, resolved to reduce the minimum cash requirement in pesos for productive financing lines , halving the deduction percentages starting April 1, 2025. Additionally, for financing agreements granted from January 1, 2025, onwards, the deduction of the minimum cash requirement for financing aimed at MiPyME Investment Projects and non -CENDEU clients (financial inclusion) was eliminated. For agreements executed on or before December 31, 2024, reductions in the minimum cash requirement will continue to be computed based on the outstanding balances. As of the date of this release, minimum reserve requirements on AR$ deposits are as follows: Minimum Reserve Requirements Cash Treasury Bonds Lecap/Boncap Total Saving Accounts 40% 5% 45% Checking Accounts 40% 5% 45% Special Checking Accounts - Mutual Funds 20% 0% 20% Time Deposits 5% 20% 25% Related to US$ Deposits, minimum cash reserve requirements are 25% for Demand Deposits and 23% for time deposits of up to 29 days of residual term. This requirement is reduced as the term of deposits increases. For deposits with a residual term of between 30 and 59 days, the requirement is 17%, reduced to 11% for deposits with a residual term ranging from 60 to 89 days, to 5% for deposits with a residual term between 90 to 179 days, and to 2% for residual terms between 180 to 365 days. Deposits with a residual term exceeding 365 days have no minimum cash requirement.
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55 Liquidity & Capital On March 19, 2020, the Central Bank ruled, through Communication “A” 6938, that group A financial institutions were allowed to consider as Tier 1 capital (COn1), when calculating minimum capital requirements, the positive difference between the accounting provision, calculated in accordance with point 5.5. of IFRS 9, and the regulatory provision, calculated in accordance with the standards on minimum loan loss provisions required, or the accounting provision as of November 30, 2019, the higher of both, that is, when the provision under IFRS is greater than the regulatory (or accounting as of that date). As of the date of this release, this provision is still in force. On July 18, 2024, through Communications “A” 8066, “A” 8067 and “A” 8068 the Central Bank modified sections 2, 5 and 7 of the Minimum Capital Requirement regulations effective January 1, 2025, October 1, 2024 , and March 1, 2025, respectively. The main changes of these communications are: • The credit and operational risk requirements now differ for entities in Group 1 and 2. According to Communication “A” 8067, Group1 entities are defined as those classified by the Argentine Central Bank as having a local systemic importance (D-SIB) or foreign bank branches or subsidiaries designated as having global systemic importance (G-SIB). • Certain credit risk weights were modified; for example, commitments that are unconditionally cancellable at any time by the bank without prior notice, or that automatically cancel due to deterioration in a borrower’s creditworthiness, will have a credit conversion factor (CCF) of 10%, compared to 0% previously. • New subgroups of exposures were introduced to improve risk differentiation and enhance credit risk calculations, such as exposures to “investment grade” corporates, Corporate SMEs, and regulatory retail exposure to “transactors”, among others. • The gross income for the operational risk requirement must be expressed in terms of the measuring unit current at the end of the prior month to the one in which the calculation is made. Additionally, the effect of inflation on the net monetary position is incorporated into the gross income. Dividends On March 13, 2025, through Communication “A” 8214, the Central authorized Banks to distribute profits in ten equal, monthly, and consecutive installments up to 60% of the accumulated retained earnings. Net Global Position of Foreign Currency Financial entities are currently limited by the Central Bank in their Net Global Position of Foreign Currency. For negative positions, a financial entity may not exceed 30% of its Regulatory Capital, while for positive positions it may not exceed 5% of its Regulatory Capital. Additionally, the spot cash position may not exceed 0% of the Regulatory Capital. The spot cash position is equal to the global position deducting: 1. The net position in forward transactions, cash to be settled, futures, options and other derivatives, 2. The net position of dollar-linked securities, 3. The positive difference between the balances of cash and the non-application of resources in foreign currency, 4. Pre-financing of exports whose funding in foreign currency is allocated to dollar-linked liabilities, and 5. Balance of guarantees constituted by operations with debit and credit cards abroad for up to an amount equivalent to five consecutive days of consumption. On November 25, 2021, the Central Bank, through Communication “A” 7405 updated the percentage of the FX spot position, which since December 1, 2021, should not exceed the amount equivalent to 0% of the minimum capital requirements. Since December 2021, the guarantees constituted by Credit Cards transactions abroad for an amount equivalent to five calendar days of consumption are deducted from the spot cash position. On July 13, 2022, the Central Bank, through Communication “A” 7545 established that financial entities should deduct Dual currency Bonds to determine the Net Global Position in foreign currency.
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56 On October 12, 2023, the Central Bank establishe d that financial institutions cannot increase, without prior approval from that institution, their daily foreign currency cash position compared to the level the institution had at the close of the day prior to the entry into force of this regulation. Financial institutions may cover their daily cash position, up to zero, with non -transferable domestic bonds issued by the Central Bank of the Argentine Republic in pesos payable at the official exchange rate acc ording to Communication "A" 3500 (LEDIV), which they may use for this position, and/or national public securities in foreign currency or linked to the evolution of that currency. Special treatment for debt instruments of the Non-Financial Public Sector On December 31, 2019, the Central Bank, through Communication "A" 6847 provided a special treatment for debt instruments of the Non-Financial Public Sector, which were effective January 1, 2020, excluding the scope of application of IFRS 9 to non-financial public sector debt instruments. ANSES Regulation 151/2023 Since 1996, Banco Supervielle has acted as one of the payment agents in relation to the payment of pensions and benefits to Senior Citizens and pensioners on behalf of the Argentine government under a contract with ANSES. The provision of this service allows the Bank to access a group of potential customers for financial services. The agreement with ANSES expired on June 30, 2023. On July 25, 2023, ANSES issued Resolution No. 151/2023 which sets forth the new procedure of, and establishes new requirements for, the payment of social benefits, and the obligation of the banks that pay pensions or benefits on behalf of ANSES to sign new agreements with ANSES. The banks (including Banco Supervielle) are in the process of negotiating a new agreement with ANSES. The Bank has invested in cutting-edge service models and products that facilitate its senior citizen customers to make transactions. The Bank is prepared to continue to offer its services within the framework of the new agreement to be entered into with AN SES and to continue to be a leading bank in providing pension service payments.
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57 Grupo Supervielle financial statements (In millions of Ps. stated in terms of the measuring unit current at the end of the reporting period) mar 25 dec 24 sep 24 jun24 mar24 QoQ YoY Assets Cash and due from banks 857.759,1 708.930,1 906.042,4 326.855,9 360.676,0 21,0% 137,8% Secuities at fair value through profit or loss 185.033,3 285.897,4 284.211,3 244.962,7 129.493,1 -35,3% 42,9% Derivatives 3.794,0 5.024,4 2.060,6 5.559,6 7.764,8 -24,5% -51,1% Repo transactions 3.052,2 - 23.828,0 284.908,1 1.300.171,7 na -99,8% Other financial assets 47.554,1 32.535,9 55.119,1 89.196,6 62.681,5 46,2% -24,1% Loans and other financings 2.399.782,7 2.356.127,4 1.845.573,0 1.608.544,6 1.174.901,9 1,9% 104,3% Other securities 1.323.503,1 916.102,9 901.137,9 1.303.868,0 445.612,6 44,5% 197,0% Financial assets in guarantee 118.389,6 196.861,6 223.774,1 88.101,9 90.760,9 -39,9% 30,4% Current Income tax assets - - - 1.357,9 - na na Investments in equity instruments 3.771,5 771,6 1.621,7 1.472,5 1.280,7 388,8% 194,5% Property, plant and equipment 108.231,2 110.671,7 117.777,3 118.789,1 119.180,7 -2,2% -9,2% Property investments 85.300,6 85.371,8 101.206,5 102.982,1 107.930,9 -0,1% -21,0% Intangible Assets 177.175,2 180.237,8 167.704,6 160.350,2 157.109,6 -1,7% 12,8% Deferred tax assets 6.557,3 1.862,8 1.959,1 1.120,9 1.748,8 252,0% 275,0% Other non-financial assets 45.435,5 38.587,9 44.164,5 45.056,0 43.589,4 17,7% 4,2% Total assets 5.365.339,4 4.918.983,3 4.676.180,0 4.383.126,2 4.002.902,8 9,1% 34,0% Liabilities and shareholders’ equity Deposits: 3.709.663,6 3.445.398,8 3.227.127,0 2.757.020,0 2.767.508,6 7,7% 34,0% Non‑financial public sector 132.877,6 157.105,8 154.572,0 154.701,4 141.627,9 -15,4% -6,2% Financial sector 232,6 201,2 132,6 429,1 259,2 15,6% -10,2% Non‑financial private sector and foreign residents 3.576.553,3 3.288.091,8 3.072.422,5 2.601.889,5 2.625.621,6 8,8% 36,2% Liabilities at a fair value through profit or loss 2.737,1 - 428,1 303,1 3.969,7 na -31,1% Derivatives 26,6 1.882,6 64,8 36,8 - -98,6% na Repo transactions 31.328,4 36.872,9 135.394,8 - - na na Other financial liabilities 177.496,3 180.425,8 161.090,6 531.326,5 123.685,4 -1,6% 43,5% Financing received from Central Bank and others 71.719,3 42.665,3 31.222,6 17.190,0 16.158,1 68,1% 343,9% Medium Term Notes 222.635,7 55.541,6 26.223,8 - - na na Provisions 41.725,6 44.082,2 58.662,4 60.596,4 60.927,0 -5,3% -31,5% Deferred tax liabilities 1.948,0 3.439,1 18.964,4 22.489,9 7.249,9 -43,4% -73,1% Other non-financial liabilities 196.437,7 208.717,5 149.606,2 140.366,8 139.810,2 -5,9% 40,5% Total liabilities 4.464.265,0 4.024.704,7 3.810.915,4 3.529.329,7 3.128.661,8 10,9% 42,7% Attributable Shareholders’ equity 899.279,4 893.096,5 864.204,1 853.072,6 873.526,5 0,7% 2,9% Non Controlling Interest 1.795,0 1.182,1 1.060,6 724,0 714,5 51,9% 151,2% Total liabilities and shareholders’ equity 5.365.339,4 4.918.983,3 4.676.180,0 4.383.126,2 4.002.902,8 9,1% 34,0% Consolidated Balance Sheet Data - Non Restated Figures mar 25 dec24 sep24 jun24 mar24 (In millions of Argentine Ps.) Assets Cash and due from banks 858.029,8 652.975,2 772.513,8 248.535,5 231.306,4 Securities at fair value through profit or loss 254.619,2 261.777,1 246.658,7 186.265,3 83.045,7 Derivatives 3.794,0 4.627,8 1.756,9 4.227,4 4.979,7 Repo transactions 3.052,2 - 20.316,3 216.639,1 833.817,5 Other financial assets 47.561,8 29.599,4 46.378,0 67.637,5 40.034,4 Loans and other financings 2.399.779,4 2.169.160,8 1.587.289,6 1.232.443,2 760.045,4 Other securities 1.254.114,6 842.539,2 761.927,0 991.440,3 285.777,3 Financial assets in guarantee 118.389,6 181.323,8 190.795,3 66.991,1 58.206,2 Current Income tax assets - - (2.165,6) 295,8 (6.389,2) Investments in equity instruments 3.427,9 616,4 1.192,8 998,8 725,5 Investments in subsidiaries, associates and joint ventures - - - - - Property, plant and equipment 74.496,4 74.309,5 42.804,0 40.988,4 38.699,2 Property investments 77.631,0 77.645,2 42.608,0 43.313,9 45.145,4 Intangible Assets 130.594,3 128.235,7 112.655,0 23.047,0 16.492,6 Deferred tax assets 39.321,4 28.356,1 51.813,7 43.943,3 28.498,2 Other non-financial assets 30.518,2 21.154,5 21.277,0 19.392,9 15.387,0 Total assets 5.295.329,6 4.472.320,8 3.897.820,5 3.186.159,5 2.435.771,4 Liabilities and shareholders’ equity Deposits: 3.709.771,5 3.173.461,2 2.751.527,7 2.096.389,6 1.774.840,3 Non‑financial public sector 132.877,6 144.705,8 131.791,9 117.632,3 90.827,9 Financial sector 232,6 185,3 113,0 326,3 166,2 Non‑financial private sector and foreign residents 3.576.661,2 3.028.570,1 2.619.622,8 1.978.431,1 1.683.846,2 Liabilities at a fair value through profit or loss 2.737,1 - 365,0 230,5 2.545,8 Derivatives 26,6 1.734,0 55,3 28,0 - Repo transactions 31.328,4 33.962,6 115.440,9 - - Other financial liabilities 177.832,3 166.185,2 137.349,8 404.011,3 79.321,1 Financing received from Central Bank and others 71.546,3 38.304,4 26.621,1 13.071,0 10.362,4 Provisions 41.725,6 40.602,8 50.017,0 46.076,4 39.073,3 Other non-financial liabilities 196.618,0 191.401,7 137.805,4 113.791,7 94.513,8 Total liabilities 4.463.009,4 3.702.998,3 3.255.039,8 2.689.971,0 2.000.656,7 Attributable Shareholders’ equity 831.557,6 768.293,4 641.983,2 495.732,3 434.732,6 Non Controlling Interest 762,5 1.029,2 797,6 456,1 382,1 Total liabilities and shareholders’ equity 5.295.329,6 4.472.320,8 3.897.820,5 3.186.159,5 2.435.771,4
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58 About Grupo Supervielle S.A. (NYSE: SUPV; BYMA: SUPV) Grupo Supervielle provides a wide range of financial and non-financial services to its clients and have more than 135 years of experience operating in Argentina. Supervielle is focused on offering fast solutions to its clients and effectively adapting to evolving changes within the industries in which the company operates. Grupo Supervielle operates multiple platforms and brands and has developed a diverse ecosystem to respond to its clients’ needs and digital transformation. Since May 2016, the shares of Grupo Supervielle are listed on the ByMA and NYSE. The subsidiaries of Grupo Supervielle are: (i) Banco Supervielle, which is the sixth largest private bank in Argentina in terms of loans; (ii) Supervielle Seguros, an insurance company; (iii) Supervielle Productores Asesores de Seguros, an insurance broker; (iv) Supervielle Asset Management, a mutual fund management company; (v) Supervielle Agente de Negociación, a brokerage firm offering services to institutional and corporate customers, (vi) IOL, the leading online retail broker; Portal Integral de Inversiones, a platform providing online financial investment products , (vii) Espacio Cordial, an entity offering retail non -financial products, and (viii) MILA, a company specialized in the financing of car loans. Sofital, a holding company that owns shares of the same companies owned by Grupo Supervielle, is also part of our Group. As of the date of this report, Supervielle´s network includes 130 bank branches, its digital channels and virtual branches, and its commercial partnerships, serving 2 million active clients. For information about Grupo Supervielle, visit www.gruposupervielle.com. Investor Relations Contacts: Ana Bartesaghi Gustavo Tewel Valeria Kohan Gonzalo Mingrone Treasurer and Investor Relations Officer IR Team Leader Assistant Junior IR analyst Ana.BARTESAGHI@supervielle.com.ar Gustavo.TEWEL@supervielle.com.ar Valeria.KOHAN@supervielle.com.ar Gonzalo.MINGRONE@supervielle.com.ar Safe Harbor Statement This press release contains certain forward-looking statements that reflect the current views and/or expectations of Grupo Supervielle and its management with respect to its performance, business and future events. We use words such as “believe,” “anticipa te,” “plan,” “expect,” “intend,” “target,” “estimate,” “project,” “predict,” “forecast,” “guideline,” “seek,” “future,” “should” and other similar expressions to identify forward -looking statements, but they are not the only way we identify such statements. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expresse d in this release. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) changes in general economic, financial, business, political, legal, social or other conditions in Argentina or elsewhere in Latin America or changes in either developed or emerging markets, (ii) changes in regional, national and international business and economic conditions, including inflation, (iii) changes in interest rates and the cost of deposits, which may, amon g other things, affect margins, (iv) unanticipated increases in financing or other costs or the inability to obtain additional debt or equity financing on attractive terms, which may limit our ability to fund existing operations and to finance new activiti es, (v) changes in government regulation, including tax and banking regulations, (vi) changes in the policies of Argentine authorities, (vii) adverse legal or regulatory disputes or proceedings, (viii) competition in banking and financial services, (ix) changes in the financial condition, creditworthiness or solvency of the customers, debtors or counterparties of Grupo Supervielle, (x) increase in the allowances for loan losses, (xi) technological changes or an inability to implement new technologies, (xii) changes in consumer spending and saving habits, (xiii) the ability to implement our business strategy and (xiv) fluctuations in the exchange rate of the Peso. The matters discussed herein may also be affected by risks and uncertainties described from time to time in Grupo Supervielle’s filings with the U.S. Securities and Exchange Commission (SEC) and Comisión Nacional de Valores (CNV). Readers are cautioned not to place undue reliance on forward -looking statements, which speak only as the date of this do cument. Grupo Supervielle is under no obligation and expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise.