[6-K] Macro Bank Inc. Current Report (Foreign Issuer)

Rhea-AI Filing Summary

Macro Bank Inc. disclosed interim financial statement notes and transactional details reflecting regulatory accounting treatments, business combinations and market operations. The filing states the Bank entered voluntary debt exchanges with Argentinian Treasury bonds in Aug 2024 and Feb 2025 and that public-sector securities received in swaps are initially recognized at carrying amount per BCRA guidance. The Bank completed acquisitions (control obtained May–Nov 2023; consolidated control effective Jan 2025 for certain entities) including Banco Itaú Argentina (referred to as Banco BMA SAU) and acquired related asset-manager and broker interests; merger reorganizations were approved with reorganization date Jan 1, 2025 and shareholder approval on Mar 31, 2025. The Bank issued Class G corporate bonds of USD 400,000,000 at 8% due June 23, 2029 on June 23, 2025. Accounting notes highlight that ECL is not calculated for public sector exposures and describe fair-value hierarchy (Levels 1–3). Selected expense lines are disclosed (e.g., employee remunerations and administrative expense components).

Positive

• Completed acquisition of Banco Itaú Argentina (Banco BMA SAU) with 100% of capital stock acquired, expanding the Bank's scale and subsidiaries
• Issued USD 400,000,000 Class G corporate bonds at 8% due June 23, 2029, raising long-term USD funding
• Voluntary debt exchanges executed (Aug 2024 and Feb 2025) for specified Argentine Treasury CER-indexed bonds

Negative

• ECL not calculated for public sector exposures per Note 3, which may limit forward-looking credit loss recognition for a portion of the portfolio
• High operating cost base disclosed with large employee remunerations and detailed administrative expenses (material line items disclosed)
• Filing lacks quantified consolidated profit, capital or goodwill impacts for the acquisitions in the provided excerpt, limiting assessment of financial effect

Insights

Financial Analyst

TL;DR: Financial disclosures show regulatory-driven accounting choices, significant operating expenses, and notable financing and acquisition activity.

The filing documents material accounting policies dictated by the BCRA, including initial recognition of public-sector swap securities at carrying amount and the temporary ECL exclusion for public sector exposures. Operating expense detail is granular: large reported employee remunerations and various administrative expense line items are disclosed, indicating substantial cost base. The fair-value disclosure and level definitions are standard. The debt exchanges and bond issuance affect funding mix and interest expense profile. The absence of consolidated income figures in the provided excerpt limits precise profitability or capital-impact assessment.

M&A Specialist

TL;DR: The disclosed acquisitions and subsequent mergers are material and increase the Bank's scale and product scope.

The filing confirms acquisition of 100% of Banco Itaú Argentina SA (Banco BMA SAU) including related asset-management and brokerage stakes, with share counts specified for the transaction. Merger-by-absorption reorganizations were set with reorganization date January 1, 2025 and shareholder ratification March 31, 2025. These transactions are material corporate events that expand the Bank's subsidiaries and require comparative figure restatements. The filing provides transaction structure details but the excerpt lacks explicit purchase price allocation, goodwill or pro forma financial impacts, limiting assessment of consolidation accounting and expected synergies.

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE

SECURITIES EXCHANGE ACT OF 1934

September 17, 2025

Commission File Number: 001-32827

MACRO BANK INC.

(Translation of registrant’s name into English)

Avenida Eduardo Madero 1182

Ciudad Autónoma de Buenos Aires C1106 ACY

Tel: 54 11 5222 6500

(Address of registrant’s principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F x Form 40-F ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes ¨ No x

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes ¨ No x

BANCO MACRO SA

Condensed interim Financial Statements as of June 30, 2025
together with the reports on review of interim Financial Statements

BANCO MACRO SA

CONDENSED INTERIM FINANCIAL STATEMENTS AS OF JUNE 30, 2025

CONTENT

Cover sheet

Condensed consolidated interim Financial Statements

Condensed consolidated interim statement of financial position

Condensed consolidated interim statement of income

Condensed consolidated interim statement of other comprehensive income

Condensed consolidated interim statement of changes in shareholders’ equity

Condensed consolidated interim statement of cash flows

Notes to the condensed consolidated interim Financial Statements

Note 1: Corporate information

Note 2: Operations of the Bank

Note 3: Basis for the preparation of these Financial Statements and applicable accounting standards

Note 4: Contingent transactions

Note 5: Debt securities at fair value through profit or loss

Note 6: Other financial assets

Note 7: Loans and other financing

Note 8: Loss allowance for expected credit losses on credit exposures not measured at fair value through profit or loss

Note 9: Other debt securities

Note 10: Fair value quantitative and qualitative disclosures

Note 11: Business combinations

Note 12: Investments in associates and joint ventures

Note 13: Other non-financial assets

Note 14: Related parties

Note 15: Deposits

Note 16: Other financial liabilities

Note 17: Provisions

Note 18: Other non-financial liabilities

Note 19: Analysis of financial assets to be recovered and financial liabilities to be settled

Note 20: Disclosures by operating segment

Note 21: Income tax

Note 22: Commissions income

Note 23: Differences in quoted prices of gold and foreign currency

Note 24: Other operating income

Note 25: Employee benefits

Note 26: Administrative expenses

Note 27: Other operating expenses

Note 28: Additional disclosures in the statement of cash flows

Note 29: Capital stock

BANCO MACRO SA

CONDENSED INTERIM FINANCIAL STATEMENTS AS OF JUNE 30, 2025

CONTENT (contd.)

Notes to the condensed consolidated interim Financial Statements (contd.)

Note 30: Earnings per share – Dividends

Note 31: Deposit guarantee insurance

Note 32: Restricted assets

Note 33: Trust activities

Note 34: Compliance with CNV regulations

Note 35: Accounting items that identify the compliance with minimum cash requirements

Note 36: Penalties applied to the Bank and summary proceedings initiated by the BCRA

Note 37: Corporate bonds issuance

Note 38: Off balance sheet transactions

Note 39: Tax and other claims

Note 40: Restriction on dividends distribution

Note 41: Capital management, corporate governance transparency policy and risk management

Note 42: Changes in the Argentine macroeconomic environment and financial and capital markets

Note 43: Events after reporting period

Note 44: Accounting principles – explanation added for translation into English

Consolidated exhibits

Exhibit B: Classification of loans and other financing by situation and collateral received

Exhibit C: Concentration of loans and financing facilities

Exhibit D: Breakdown of loans and other financing by terms

Exhibit F: Change of property, plant and equipment

Exhibit G: Change in intangible assets

Exhibit H: Deposit concentration

Exhibit I: Breakdown of financial liabilities for residual terms

Exhibit J: Changes in provisions

Exhibit L: Foreign currency amounts

Exhibit Q: Breakdown of statement of income

Exhibit R: Value adjustment for credit losses – Allowances for uncollectibility risk

Condensed separate interim Financial Statements

Condensed separate interim Financial Statements

Notes to the condensed separate interim Financial Statements

Condensed separate exhibits

BANCO MACRO SA

Corporate name: Banco Macro SA

Registered office: Avenida Eduardo Madero 1182 – Autonomous City of Buenos Aires

Corporate purpose and main activity: Commercial bank

Central Bank of Argentina: Authorized as “Argentine private bank” under No. 285

Registration with the public Registry of Commerce: Under No. 1154 - By-laws Book No. 2, Folio 75 dated March 8, 1967

By-laws expiry date: March 8, 2066

Registration with the IGJ (Argentine regulatory agency of business associations): Under No. 9777 – Corporations Book No. 119 Volume A of Sociedades Anónimas, dated October 8, 1996

Personal tax identification number: 30-50001008-4

Registration dates of amendments to by-laws:

August 18, 1972, August 10, 1973, July 15, 1975, May 30, 1985, September 3, 1992, May 10, 1993, November 8, 1995, October 8, 1996, March 23, 1999, September 6, 1999, June 10, 2003, December 17, 2003, September 14, 2005, February 8, 2006, July 11, 2006, July 14, 2009, November 14, 2012, August 2, 2014, July 15, 2019, May 27, 2025.

CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION

AS OF JUNE 30, 2025 AND DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

Items		Notes		Exhibits		06/30/2025				12/31/2024
ASSETS
Cash and deposits in banks		10 and 28					2,497,537,577				3,096,842,960
Cash							366,757,281				478,871,095
Central Bank of Argentina							1,448,084,378				2,156,787,628
Other local and foreign entities							674,852,705				398,119,450
Other							7,843,213				63,064,787
Debt securities at fair value through profit or loss		5 and 10					795,942,065				970,259,717
Derivative financial instruments		10					1,386,891				22,195,032
Other financial assets		6, 8 and 10		R			575,429,129				630,896,168
Loans and other financing		7, 8 and 10		B, C, D and R			9,239,741,366				6,677,556,272
Non-financial public sector							117,709,713				80,494,871
Other financial entities							108,026,093				72,663,488
Non-financial private sector and foreign residents							9,014,005,560				6,524,397,913
Other debt securities		8, 9 and 10		R			3,729,935,649				3,598,473,858
Financial assets delivered as guarantee		10 and 32					282,702,863				284,405,269
Current income tax assets		21					21,019				97,033,513
Equity instruments at fair value through profit or loss		10					25,165,286				10,037,616
Investments in associates and joint ventures		12					4,449,484				5,296,553
Property, plant and equipment				F			911,128,977				907,301,230
Intangible assets				G			168,020,048				169,740,277
Deferred income tax assets		21					2,540,268				2,591,897
Other non-financial assets		13					137,505,387				121,154,028
Non-current assets held for sale							85,537,353				87,276,123
TOTAL ASSETS							18,457,043,362				16,681,060,513

1 Jorge Pablo Brito
Chairperson

CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION

AS OF JUNE 30, 2025 AND DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

Items		Notes		Exhibits		06/30/2025				12/31/2024
LIABILITIES
Deposits		10 and 15		H and I			10,615,095,920				9,694,277,731
Non-financial public sector							877,424,074				740,879,453
Financial sector							13,440,618				13,837,907
Non-financial private sector and foreign residents							9,724,231,228				8,939,560,371
Liabilities at fair value through profit or loss		10		I			13,618,843				8,267,933
Derivative financial instruments		10		I			663,597				1,521,124
Repo transactions		10		I							21,818,577
Other financial liabilities		10 and 16		I			1,338,518,403				1,187,657,357
Financing received from the BCRA and other financial institutions		10		I			68,362,615				50,035,744
Issued corporate bonds		10 and 37		I			482,325,018				17,022,561
Current income tax liabilities		21					49,345,365				21,848,823
Subordinated corporate bonds		10 and 37		I			481,481,261				480,731,712
Provisions		17		J and R			18,117,181				19,647,701
Deferred income tax liabilities		21					175,780,878				92,513,863
Other non-financial liabilities		18					695,075,398				422,970,600
TOTAL LIABILITIES							13,938,384,479				12,018,313,726
SHAREHOLDERS’ EQUITY
Capital stock		29					639,413				639,413
Non-capitalized contributions							12,429,781				12,429,781
Capital adjustments							1,441,483,649				1,441,483,649
Earnings reserved							2,869,770,058				2,855,996,732
Unappropriated retained earnings							827,895				(11,543,379	)
Accumulated other comprehensive income							(6,068,228	)			(11,213,711	)
Net income of the period / fiscal year							196,683,332				373,078,778
Net shareholders’ equity attributable to controlling interests							4,515,765,900				4,660,871,263
Net shareholders’ equity attributable to non-controlling interests							2,892,983				1,875,524
TOTAL SHAREHOLDERS’ EQUITY							4,518,658,883				4,662,746,787
TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES							18,457,043,362				16,681,060,513

Notes 1 to 44 to the condensed consolidated interim Financial Statements and exhibits B to D, F to J, L, Q and R are an integral part of these condensed consolidated interim Financial Statements.

2 Jorge Pablo Brito
Chairperson

CONDENSED CONSOLIDATED INTERIM STATEMENT OF INCOME

FOR THE THREE AND SIX MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

Items		Notes		Exhibits		Quarter ended 06/30/2025				Accumulated from beginning of year up to 06/30/2025				Quarter ended 06/30/2024				Accumulated from beginning of year up to 06/30/2024
Interest income				Q			1,088,058,511				2,006,894,530				866,780,540				2,048,324,918
Interest expense				Q			(391,170,000	)			(696,008,213	)			(601,899,879	)			(1,506,533,062	)
Net interest income							696,888,511				1,310,886,317				264,880,661				541,791,856
Commissions income		22		Q			208,212,473				388,205,834				157,900,338				297,071,876
Commissions expense				Q			(27,796,500	)			(52,503,281	)			(22,799,595	)			(39,544,704	)
Net commissions income							180,415,973				335,702,553				135,100,743				257,527,172
Subtotal (Net interest income plus Net commissions income)							877,304,484				1,646,588,870				399,981,404				799,319,028
Net gain from measurement of financial instruments at fair value through profit or loss				Q			113,717,004				184,138,255				168,975,907				2,272,386,035
Profit / (loss) from sold or derecognized assets at amortized cost							17,221				17,221				(5,518	)			29,721
Differences in quoted prices of gold and foreign currency		23					22,405,015				29,211,532				35,484,296				168,120,463
Other operating income		24					45,818,373				118,424,794				60,132,765				134,173,348
Credit loss expense on financial assets							(103,038,614	)			(172,976,700	)			(22,972,508	)			(54,144,869	)
Net operating income							956,223,483				1,805,403,972				641,596,346				3,319,883,726
Employee benefits		25					(180,402,063	)			(360,993,506	)			(190,217,949	)			(410,721,758	)
Administrative expenses		26					(99,319,297	)			(191,126,959	)			(92,118,657	)			(206,030,063	)
Depreciation and amortization of fixed assets				F and G			(39,181,020	)			(78,504,874	)			(37,641,736	)			(77,785,268	)
Other operating expenses		27					(188,495,767	)			(357,237,581	)			(183,775,179	)			(415,241,860	)
Operating income							448,825,336				817,541,052				137,842,825				2,210,104,777
Income / (loss) from associates and joint ventures		12					433,202				(114,017	)			571,346				217,833
Loss on net monetary position							(203,936,999	)			(487,132,513	)			(643,873,242	)			(2,108,846,900	)
Income / (loss) before tax on continuing operations							245,321,539				330,294,522				(505,459,071	)			101,475,710
Income tax on continuing operations		21.c)					(95,781,086	)			(132,306,411	)			189,536,219				41,575,745
Net income / (loss) from continuing operations							149,540,453				197,988,111				(315,922,852	)			143,051,455
Net income / (loss) of the period							149,540,453				197,988,111				(315,922,852	)			143,051,455
Net income / (loss) of the period attributable to controlling interests							149,136,905				196,683,332				(316,576,171	)			142,702,743
Net income of the period attributable to non-controlling interests							403,548				1,304,779				653,319				348,712

3 Jorge Pablo Brito
Chairperson

CONSOLIDATED EARNINGS PER SHARE

FOR THE THREE AND SIX MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

Items		Quarter ended 06/30/2025				Accumulated from beginning of year up to 06/30/2025				Quarter ended 06/30/2024				Accumulated from beginning of year up to 06/30/2024
Net profit attributable to parent’s shareholders			149,136,905				196,683,332				(316,576,171	)			142,702,743
Plus: Potential dilutive effect inherent to common shares
Net profit attributable to parent’s shareholders adjusted for dilution			149,136,905				196,683,332				(316,576,171	)			142,702,743
Weighted average of outstanding common shares of the period			639,413				639,413				639,413				639,413
Plus: Weighted average of additional common shares with dilutive effects
Weighted average of outstanding common shares of the period adjusted for dilution			639,413				639,413				639,413				639,413
Basic earnings per share (in pesos)			233.2403				307.5998				(495.1044	)			223.1777

4 Jorge Pablo Brito
Chairperson

CONDENSED CONSOLIDATED INTERIM STATEMENT OF OTHER COMPREHENSIVE INCOME

FOR THE THREE AND SIX MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

Items		Notes		Exhibits		Quarter ended 06/30/2025				Accumulated from beginning of year up to 06/30/2025				Quarter ended 06/30/2024				Accumulated from beginning of year up to 06/30/2024
Net income / (loss) of the period							149,540,453				197,988,111				(315,922,852	)			143,051,455
Items of Other Comprehensive Income that will be reclassified to profit or loss of the period
Foreign currency translation differences from Financial Statements conversion							2,529,029				322,930				(5,882,237	)			(29,129,725	)
Foreign currency translation differences of the period							2,529,029				322,930				(5,882,237	)			(29,129,725	)
Profit or loss from financial instruments measured at fair value through other comprehensive income (FVOCI) (IFRS 9(4.1.2)(a))							4,993,430				4,822,553				(60,976,884	)			(62,039,840	)
Profit or loss of the period from financial instruments at fair value through other comprehensive income (FVOCI)				Q			7,142,308				6,662,949				(93,409,585	)			(81,843,771	)
Reclassification of the period							318,507				915,736				(569,418	)			(15,604,331	)
Income tax		21.c)					(2,467,385	)			(2,756,132	)			33,002,119				35,408,262
Total other comprehensive income / (loss) that will be reclassified to profit or loss of the period							7,522,459				5,145,483				(66,859,121	)			(91,169,565	)
Total other comprehensive income / (loss)							7,522,459				5,145,483				(66,859,121	)			(91,169,565	)
Total comprehensive income / (loss) of the period							157,062,912				203,133,594				(382,781,973	)			51,881,890
Total comprehensive income / (loss) attributable to controlling interests							156,659,364				201,828,815				(383,435,292	)			51,533,178
Total comprehensive income attributable to non-controlling interests							403,548				1,304,779				653,319				348,712

Notes 1 to 44 to the condensed consolidated interim Financial Statements and exhibits B to D, F to J, L, Q and R are an integral part of these condensed consolidated interim Financial Statements.

5 Jorge Pablo Brito
Chairperson

CONDENSED CONSOLIDATED INTERIM STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY

FOR THE SIX MONTH PERIOD ENDED JUNE 30, 2025

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

					Capital stock			Non- capitalized contributions						Other Comprehensive Income						Earnings Reserved
Changes		Notes			Outstanding shares			Additional paid-in capital			Capital adjustments			Accumulated foreign currency translation difference from Financial Statements conversion			Other			Legal			Other			Unappropriated retained earnings			Total controlling interests			Total non- controlling interests			Total Equity
Restated amount at the beginning of the fiscal year					639,413			12,429,781			1,441,483,649			(4,574,263	)		(6,639,448	)		1,153,379,706			1,702,617,026			361,535,399			4,660,871,263			1,875,524			4,662,746,787
Total comprehensive income of the period
-     Net income of the period																										196,683,332			196,683,332			1,304,779			197,988,111
-     Other comprehensive income of the period														322,930			4,822,553												5,145,483						5,145,483
Distribution of unappropriated retained earnings, as approved by the shareholders’ meeting held on April 4, 2025
-     Legal reserve																				71,963,874						(71,963,874	)
-     Optional reserve for future distribution of earnings																							281,599,363			(281,599,363	)
-     Dividends		30																					(339,789,911	)					(339,789,911	)					(339,789,911	)
-     Personal assets tax on shares and equity interests																										(7,144,267	)		(7,144,267	)					(7,144,267	)
Other changes																																(287,320	)		(287,320	)
Amount at the end of the period					639,413			12,429,781			1,441,483,649			(4,251,333	)		(1,816,895	)		1,225,343,580			1,644,426,478			197,511,227			4,515,765,900			2,892,983			4,518,658,883

CONDENSED CONSOLIDATED INTERIM STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY

FOR THE SIX MONTH PERIOD ENDED JUNE 30, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

					Capital stock			Non- capitalized contributions						Other Comprehensive Income						Earnings Reserved
Changes		Notes			Outstanding shares			Additional paid-in capital			Capital adjustments			Accumulated foreign currency translation difference from Financial Statements conversion			Other			Legal			Other			Unappropriated retained earnings			Total controlling interests			Total non- controlling interests			Total Equity
Restated amount at the beginning of the fiscal year					639,413			12,429,781			1,441,483,649			27,972,317			72,948,791			858,976,731			1,235,484,190			1,460,283,871			5,110,218,743			1,167,694			5,111,386,437
Total comprehensive income of the period
-     Net income of the period																										142,702,743			142,702,743			348,712			143,051,455
-     Other comprehensive loss of the period														(29,129,725	)		(62,039,840	)											(91,169,565	)					(91,169,565	)
Distribution of unappropriated retained earnings, as approved by the shareholders’ meeting held on April 12, 2024
-     Legal reserve																				294,402,975						(294,402,975	)
-     Optional reserve for future distribution of earnings																							1,174,784,757			(1,174,784,757	)
-     Dividends		30																					(707,651,921	)					(707,651,921	)					(707,651,921	)
-     Personal assets tax on shares and equity interests																										(2,639,518	)		(2,639,518	)					(2,639,518	)
Other changes																																(430,615	)		(430,615	)
Amount at the end of the period					639,413			12,429,781			1,441,483,649			(1,157,408	)		10,908,951			1,153,379,706			1,702,617,026			131,159,364			4,451,460,482			1,085,791			4,452,546,273

Notes 1 to 44 to the condensed consolidated interim Financial Statements and exhibits B to D, F to J, L, Q and R are an integral part of these condensed consolidated interim Financial Statements.

6 Jorge Pablo Brito
Chairperson

CONDENSED CONSOLIDATED INTERIM STATEMENT OF CASH FLOWS

FOR THE SIX MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

Items		Notes			06/30/2025				06/30/2024
Cash flows from operating activities
Income of the period before income tax						330,294,522				101,475,710
Adjustment for the total monetary effect of the period						487,132,513				2,108,846,900
Adjustments to obtain cash flows from operating activities:
Amortization and depreciation						78,504,874				77,785,268
Credit loss expense on financial assets						172,976,700				54,144,869
Difference in quoted prices of foreign currency						(166,847,857	)			(86,353,345	)
Other adjustments						(60,555,347	)			(1,276,701,523	)
Net increase / decrease from operating assets:
Debt securities at fair value through profit or loss						72,776,795				(2,199,894,754	)
Derivative financial instruments						20,808,141				(32,253,907	)
Repo transactions										1,542,891,355
Loans and other financing
Non-financial public sector						(37,214,842	)			(51,011,019	)
Other financial entities						(35,362,605	)			(25,561,965	)
Non-financial private sector and foreign residents						(2,662,555,810	)			(227,433,508	)
Other debt securities		30				(119,717,682	)			147,605,475
Financial assets delivered as guarantee						1,702,406				109,133,576
Equity instruments at fair value through profit or loss						(15,127,670	)			(883,802	)
Other assets						34,032,205				48,793,203
Net increase / decrease from operating liabilities:
Deposits
Non-financial public sector						136,544,621				640,633,710
Financial sector						(397,289	)			(33,887,553	)
Non-financial private sector and foreign residents						784,670,857				343,274,888
Liabilities at fair value through profit or loss						5,350,910				39,202,924
Derivative financial instruments						(857,527	)			(6,648,247	)
Repo transactions						(21,818,577	)			(59,154,202	)
Other liabilities						112,979,163				(37,435,447	)
Income tax paid						(21,163,414	)			(328,973,797	)
Total cash (used in) from operating activities (A)						(903,844,913	)			847,594,809

7 Jorge Pablo Brito
Chairperson

CONDENSED CONSOLIDATED INTERIM STATEMENT OF CASH FLOWS

FOR THE SIX MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

Items		Notes			06/30/2025				06/30/2024
Cash flows from investing activities
Payments:
Acquisition of PPE, intangible assets and other assets						(73,999,341	)			(69,507,356	)
Other payments related to investing activities										(744,981	)
Total cash used in investing activities (B)						(73,999,341	)			(70,252,337	)
Cash flows from financing activities
Payments:
Dividends		30				(33,978,991	)			(357,583,037	)
Non-subordinated corporate bonds						(240,838	)			(29,732,735	)
Financing from local financial entities										(8,425,503	)
Subordinated corporate bonds						(15,911,035	)			(17,051,484	)
Other payments related to financing activities						(5,420,852	)			(4,256,538	)
Collections / Incomes:
Non-subordinated corporate bonds						460,024,543
Financing from local financial entities						17,026,059
Total cash used in financing activities (C)						421,498,886				(417,049,297	)
Effect of exchange rate fluctuations (D)						255,461,033				170,731,313
Monetary effect on cash and cash equivalents (E)						(388,189,259	)			(1,657,763,141	)
Net decrease in cash and cash equivalents (A+B+C+D+E)						(689,073,594	)			(1,126,738,653	)
Cash and cash equivalents at the beginning of the fiscal year		28				3,295,825,674				3,470,045,457
Cash and cash equivalents at the end of the period		28				2,606,752,080				2,343,306,804

Notes 1 to 44 to the condensed consolidated interim Financial Statements and exhibits B to D, F to J, L, Q and R are an integral part of these condensed consolidated interim Financial Statements.

8 Jorge Pablo Brito
Chairperson

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

1. CORPORATE INFORMATION

Banco Macro SA (hereinafter, the “Bank”) is a business corporation (sociedad anónima) organized in the Argentine Republic that offers traditional banking products and services to companies, including those companies operating in regional economies as well as to individuals, thus strengthening its goal to be a multiservice bank. In addition, through its subsidiaries, the Bank performs transactions as a trustee agent, manager and administrator of mutual funds and renders stock exchange services, electronic payment services and granting of guarantees.

Macro Compañía Financiera SA was created in 1977, as a non-banking financial institution. In May 1988, it received the authorization to operate as a commercial bank and was incorporated as Banco Macro SA. Subsequently, as a result of the merger process with other entities, it adopted other names (among them, Banco Macro Bansud SA) and since August 2006, Banco Macro SA.

The Bank’s shares are publicly listed on Bolsas y Mercados Argentinos (BYMA, for its acronym in Spanish) since November 1994 and as from March 24, 2006 they are listed on the New York Stock Exchange (NYSE). Additionally, on October 15, 2015, they were authorized to be listed on A3 Mercados SA (former Mercado Abierto Electrónico SA (MAE, for its acronym in Spanish)).

Since 1994, Banco Macro SA’s market strategy has mainly focused on the regional areas outside the Autonomous City of Buenos Aires (CABA, for its acronym in Spanish). Following this strategy, in 1996, Banco Macro SA started the process to acquire entities and assets and liabilities during the privatization of provincial banks and other banking institutions.

On May 18, 2023, Banco Macro SA acquired 100% of the capital stock of Macro Agro SAU (formerly known as Comercio Interior SAU). The main purpose of this company is grain brokerage. For further information see also Note 11.

Additionally, on November 2, 2023, the Board of Directors of the Central Bank of Argentina (BCRA, for its acronym in Spanish), authorized the acquisition by Banco Macro SA of 100% of the capital stock of Banco Itaú Argentina SA, Itaú Asset Management SA and Itaú Valores SA.

On January 1, 2025, Banco Macro SA acquired the control of Alianza SGR. The main purpose of this company is the granting of guarantees.

On August 27, 2025, the Board of Directors approved the issuance of these condensed consolidated interim Financial Statements.

2. OPERATIONS OF THE BANK

2.1 Agreement with the Misiones Provincial Government

The Bank and the Misiones Provincial Government entered into a special-relationship agreement whereby the Bank was appointed, for a five-year term since January 1, 1996, as the Provincial Government’s exclusive financial agent as well as revenue collection and obligation payment agent.

On November 25, 1999, December 28, 2006 and October 1, 2018, extensions to such agreement were agreed upon, making it currently effective through December 31, 2029.

As of June 30, 2025 and December 31, 2024, the deposits held by the Misiones Provincial Government with the Bank amounted to 83,282,966 and 111,820,313 (including 16,112,236 and 14,286,690 related to court deposits), respectively.

2.2 Agreement with the Salta Provincial Government

The Bank and the Salta Provincial Government entered into a special-relationship agreement whereby the Bank was appointed, for a ten-year term since March 1, 1996, as the Provincial Government’s exclusive financial agent as well as revenue collection and obligation payment agent.

On February 22, 2005, and August 22, 2014, extensions to such agreements were agreed upon, making it currently effective through February 28, 2026.

As of June 30, 2025 and December 31, 2024, the deposits held by the Salta Provincial Government with the Bank amounted to 98,607,589 and 66,341,929 (including 20,922,286 and 18,482,689, related to court deposits), respectively.

9

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

Additionally, the Bank granted loans to the Salta Provincial Government and the Municipality of Salta City as of June 30, 2025 and December 31, 2024 for an amount of 10,667 and 5,726, respectively.

2.3 Agreement with the Jujuy Provincial Government

The Bank and the Jujuy Provincial Government entered into a special-relationship agreement whereby the Bank was appointed, for a ten-year term since January 12, 1998, as the Provincial Government’s exclusive financial agent as well as revenue collection and obligation payment agent.

On April 29, 2005, July 8, 2014 and September 26, 2024, extensions to such agreement were agreed upon, making it currently effective through September 30, 2034.

As of June 30, 2025 and December 31, 2024, the deposits held by the Jujuy Provincial Government with the Bank amounted to 84,954,124 and 58,042,591 (including 16,018,430 and 14,157,516, related to court deposits), respectively.

Additionally, the Bank granted loans to the Jujuy Provincial Treasury as of June 30, 2025 and December 31, 2024 for an amount of 28,137 and 5,252, respectively.

2.4 Agreement with the Tucumán Provincial Government

The Bank acts as an exclusive financial agent and as revenue collection and obligation payment agent of the Tucumán Provincial Government, the Municipality of San Miguel de Tucumán and the Municipality of Yerba Buena. The services agreements with the Provincial and Municipal Governments are effective through years 2031, 2028 and 2025, respectively. As established in the original agreement, the service agreement with the Municipality of San Miguel de Tucumán was extended until 2028.

As of June 30, 2025 and December 31, 2024, the deposits held by the Tucumán Provincial Government, the Municipality of San Miguel de Tucumán and the Municipality of Yerba Buena with the Bank amounted to 384,209,733 and 377,906,167 (including 53,943,414 and 48,584,058, related to court deposits), respectively.

Additionally, the Bank granted loans to the Tucumán Provincial Government and the Municipalities of San Miguel de Tucumán and Yerba Buena as of June 30, 2025 and December 31, 2024 for an amount of 40,614,928 and 67,581, respectively.

3. BASIS FOR THE PREPARATION OF THESE FINANCIAL STATEMENTS AND APPLICABLE ACCOUNTING STANDARDS

Presentation basis

Applicable Accounting Standards

These condensed consolidated interim Financial Statements of the Bank were prepared in accordance with the accounting framework established by the BCRA, in its Communiqué “A” 6114 as supplemented. Except for the regulatory provisions established by the BCRA, which are explained in the following paragraph, such framework is based on IFRS Accounting Standards (International Financial Reporting Standards) as issued by the IASB (International Accounting Standards Board) and adopted by the Argentine Federation of Professionals Councils in Economic Sciences (FACPCE, for its acronym in Spanish). The abovementioned international standards include the International Financial Reporting Standards (IFRS), the International Accounting Standards (IAS) and the interpretations developed by the IFRS Interpretations Committee (IFRIC) or former Standing Interpretations Committee (SIC).

The transitory exceptions established by BCRA to the application of effective IFRS Accounting Standards as issued by the IASB that affect the preparation of these condensed consolidated interim Financial Statements are as follows:

a) According to Communiqué “A” 6114, as amended and supplemented, and in the convergence process through IFRS Accounting Standards as issued by the IASB, the BCRA established that since fiscal years beginning on or after January 1, 2020, financial institutions defined as “Group A” by BCRA rules, in which the Bank is included, begin to apply section 5.5 “Impairment” of the IFRS 9 “Financial Instruments” (sections B5.5.1 to B5.5.55), except for the temporary exclusion for the public sector established by Communiqué “A” 6847. As of the date of issuance of these condensed consolidated interim Financial Statements, the Bank is in the process of quantifying the effect of the full application of the abovementioned standard.

10

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

b) Through Communiqué “A” 7014 dated May 14, 2020, the BCRA established for financial institutions that received debt securities of the public sector in a swap transaction, they must be initially recognized at their carrying amount as of the date of the swap transaction, without assessing if they qualify or not for derecognition under IFRS 9 standards and as a consequence, do not eventually recognize the new instruments at the market value as provided by such IFRS (see Note 9 to the condensed consolidated interim Financial Statements).

If IFRS 9 had been applied, according to an estimation calculated by the Bank, the Statement of income of the six-month period ended June 30, 2025, would have recorded an increase in “Interest income” for an amount of 29,656, in “Loss on net monetary position” for an amount of 23,925 and in “Income tax on continuing operations” for an amount of 120,033 and, on the other hand, a decrease in “Net gain from measurement of financial instruments at fair value through profit or loss” for an amount of 372,608, and as a counterpart an increase in “Other comprehensive income” for that period. In addition, it would have been recorded in the Statement of income of the six-month period ended June 30, 2024 a decrease in “Interest income” for an amount of 97,320 and, on the other hand, an increase in “Loss on net monetary position” for an amount of 9,132 and in “Net gain from measurement of financial instruments at fair value through profit or loss” for an amount of 108,867, and as a counterpart an increase in “Other comprehensive income” for that period. These changes would not have resulted into modifications to the total shareholder equity as of those dates or the total comprehensive income of the six-month periods ended June 30, 2025 and 2024.

Except for what was mentioned in the previous paragraphs, the accounting policies applied by the Bank comply with the IFRS Accounting Standards as issued by the IASB as currently approved and are applicable to the preparation of these condensed consolidated interim Financial Statements in accordance with the IFRS Accounting Standards as issued by the IASB and adopted by the BCRA through Communiqué “A” 8164. Generally, the BCRA does not allow the anticipated application of any IFRS Accounting Standards, unless otherwise expressly stated.

Basis for preparation and consolidation

These condensed consolidated interim Financial Statements as of June 30, 2025, have been prepared in accordance with the accounting framework established by the BCRA as mentioned in the previous section “Applicable accounting standards” which, particularly for condensed consolidated interim Financial Statements, is based on IAS 34 “Interim Financial Reporting”.

For the preparation of these condensed consolidated interim Financial Statements, in addition to section “Measuring unit” of this note, the Bank has applied the basis for the preparation and consolidation, the accounting policies and the material accounting judgments, estimates and assumptions described in the consolidated Financial Statements for the fiscal year ended on December 31, 2024, already issued.

These condensed consolidated interim Financial Statements include all the necessary information for an appropriate understanding, by the users thereof, of the basis for the preparation and disclosure used therein as well as the relevant events and transactions occurred after the issuance of the last annual consolidated Financial Statements for the fiscal year ended on December 31, 2024, already issued. Nevertheless, the present condensed consolidated interim Financial Statements do not include all the information or all the disclosures required for the annual consolidated Financial Statements prepared in accordance with the IAS 1 “Presentation of Financial Statements”. Therefore, these condensed consolidated interim Financial Statements must be read together with the annual consolidated Financial Statements for the fiscal year ended December 31, 2024, already issued.

11

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

As of June 30, 2025 and December 31, 2024, the Bank has consolidated into its Financial Statements the Financial Statements of the following companies:

Subsidiaries	Principal place of business	Country	Main activity
Macro Securities SAU (1) and (5)	Ave. Eduardo Madero 1182 - CABA	Argentina	Stock exchange services
Macro Fiducia SAU	Ave. Eduardo Madero 1182 - 2nd floor - CABA	Argentina	Services
Macro Fondos SGFCISA (6)	Ave. Eduardo Madero 1182 - 24th floor, Office B - CABA	Argentina	Management and administration of mutual funds
Macro Bank Limited (2)	Caves Village, Building 8 Office 1 - West Bay St., Nassau	Bahamas	Banking entity
Argenpay SAU	Ave. Eduardo Madero 1182 - CABA	Argentina	Electronic payment services
Fintech SGR (Structured entity)	San Martín 140 - 2nd floor - CABA	Argentina	Granting of guarantees
Alianza SGR (Structured entity) (7)	San Martín 140 - 2nd floor - CABA	Argentina	Granting of guarantees
Macro Agro SAU (formerly known as Comercio Interior SAU) (3)	Santa Fe 1219 - 4th floor - Rosario, Santa Fe	Argentina	Grain Brokerage
BMA Asset Management SGFCISA (4) and (6)	Ave. Eduardo Madero 1182 – 2nd floor – CABA	Argentina	Management and administration of mutual funds
BMA Valores SA (4) and (5)	Ave. Eduardo Madero 1182 – 2nd floor – CABA	Argentina	Stock exchange services

(1)	Consolidated with Macro Fondos SGFCISA (80.90% equity interest and voting rights).
(2)	Consolidated with Sud Asesores (ROU) SA (100% voting rights – Equity interest: 35,417).
(3)	Consolidated with the Bank since May 2023, as control was obtained in such month (see Note 11).
(4)	Consolidated with the Bank since November 2023, as control was obtained in such month.
(5)	On December 17, 2024, the Management of Macro Securities SAU decided to carry out the process of merger by absorption, through which that Entity will absorb BMA Valores SA, which will be dissolved without being liquidated. The reorganization date is January 1, 2025. Additionally, on March 31, 2025, the General Regular and Special Shareholder’ Meeting approved the merger with BMA Valores SA and ratified the prior merger commitment.
(6)	On December 17, 2024, the Management of Macro Fondos SGFCISA decided to carry out the process of merger by absorption, through which that Entity will absorb BMA Asset Management SGFCISA, which will be dissolved without being liquidated. The reorganization date is January 1, 2025. Additionally, on March 31, 2025, the General Regular and Special Shareholder’ Meeting approved the merger with BMA Asset Management SGFCISA and ratified the prior merger commitment.
(7)	Consolidated with the Bank since January 2025, as control was obtained in such month.

12

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

As of June 30, 2025 and December 31, 2024, the Bank's interest in the companies it consolidates is as follows:

		Shares						Bank’s interest								Non-controlling interest
Subsidiaries		Type		Number				Total capital stock				Voting rights				Total capital stock				Voting rights
Macro Securities SAU		Common			12,885,683				100.00	%			100.00	%
Macro Fiducia SAU (1)		Common			47,387,236				100.00	%			100.00	%
Macro Fondos SGFCISA		Common			327,183				100.00	%			100.00	%
Macro Bank Limited		Common			39,816,899				100.00	%			100.00	%
Argenpay SAU		Common			1,001,200,000				100.00	%			100.00	%
Fintech SGR (Structured entity)		Common			119,993				24.999	%			24.999	%			75.001	%			75.001	%
Alianza SGR (Structured entity) (4)		Common			599,955				24.998	%			24.998	%			75.002	%			75.002	%
Macro Agro SAU (formerly known as Comercio Interior SAU) (2)		Common			615,519				100.00	%			100.00	%
BMA Asset Management SGFCISA (3)		Common			91,950				100.00	%			100.00	%
BMA Valores SA (3)		Common			52,419,500				100.00	%			100.00	%

(1) On May 9, 2024, the Bank made an irrevocable contribution of 250,000 (not restated) to Macro Fiducia SAU.

(2) Interest acquired in May 2023 (see Note 11).

(3) Interest acquired in November 2023.

(4) Interest acquired in November 2023, with control exercising as of January 1, 2025.

Total assets, liabilities and Shareholders’ equity of the Bank and all its subsidiaries as of June 30, 2025 and December 31, 2024 are as follows:

		Balances as of 06/30/2025
Entity		Assets				Liabilities				Equity attributable to the owners of the Bank				Equity attributable to non-controlling interests
Banco Macro SA			17,934,573,133				13,418,807,233				4,515,765,900
Macro Bank Limited			197,304,226				141,282,583				56,021,643
Macro Securities SAU (1)			492,464,797				362,099,897				130,364,900
Macro Fiducia SAU			1,600,473				38,167				1,562,306
Argenpay SAU			44,754,045				26,739,432				18,014,613
Fintech SGR			56,269,381				52,958,483				827,691				2,483,207
Macro Agro SAU (formerly known as Comercio Interior SAU)			55,589,913				53,161,525				2,428,388
BMA Asset Management SGFCISA			2,920,647				107,341				2,813,306
BMA Valores SA			9,106,522				2,611,834				6,494,688
Alianza SGR			14,464,803				13,918,433				136,594				409,776
Eliminations			(352,004,578	)			(133,340,449	)			(218,664,129	)
Consolidated			18,457,043,362				13,938,384,479				4,515,765,900				2,892,983

(1) Includes amounts from its subsidiary Macro Fondos SGFCISA.

13

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

		Balances as of 12/31/2024
Entity		Assets				Liabilities				Equity attributable to the owners of the Bank				Equity attributable to non-controlling interests
Banco Macro SA			16,319,534,287				11,658,663,024				4,660,871,263
Macro Bank Limited			166,793,629				114,306,503				52,487,126
Macro Securities SAU (1)			462,698,632				250,520,429				212,178,203
Macro Fiducia SAU			1,672,602				43,924				1,628,678
Argenpay SAU			46,939,951				29,484,356				17,455,595
Fintech SGR			57,035,992				54,535,311				625,157				1,875,524
Macro Agro SAU (formerly known as Comercio Interior SAU)			37,395,477				34,678,606				2,716,871
BMA Asset Management SGFCISA			18,974,281				278,268				18,696,013
BMA Valores SA			6,659,694				83,774				6,575,920
Eliminations			(436,644,032	)			(124,280,469	)			(312,363,563	)
Consolidated			16,681,060,513				12,018,313,726				4,660,871,263				1,875,524

(1) Includes amounts from its subsidiary Macro Fondos SGFCISA.

Going concern

The Bank’s management has made an assessment of its ability to continue as a going concern and concluded that it has the resources to continue in business for the foreseeable future. Furthermore, management is not aware of any material uncertainties that may cast significant doubt on the Bank’s ability to continue as a going concern. Therefore, these condensed consolidated interim Financial Statements were prepared on a going concern basis.

Transcription into books

As of the date of issuance of these condensed consolidated interim Financial Statements, they are in the process of being transcribed into the Financial Statements book (“Libro Balances”) of Banco Macro SA.

Figures stated in thousands of pesos

These condensed consolidated interim Financial Statements disclose figures stated in thousands of argentine pesos in terms of purchasing power as of June 30, 2025, and are rounded up to the nearest amount in thousands of pesos, except as otherwise indicated (see section “Measuring unit” of this note).

Comparative information

The condensed consolidated interim statement of financial position as of June 30, 2025, is presented comparatively with year-end data of the immediately preceding fiscal year, while the statement of income and the statement of other comprehensive income for the three and six-month periods ended June 30, 2025, and the statement of changes in shareholders’ equity and the statement of cash flows and cash equivalents for the six-month period ended on that date, are presented comparatively with data as of the same periods of the immediately preceding fiscal year.

The figures related to comparative information have been restated to consider the changes in the general purchasing power of the functional currency and, as a result, are stated in terms of the current measuring unit at the end of the reporting period (see the following section “Measuring unit”).

Additionally, as it is mentioned in Note 11.2, during 2024 the additional amount established in the transaction price related to the purchase of Banco BMA SAU (formerly known as Banco Itaú Argentina SA), BMA Asset Management SGFCISA (formerly known as Itaú Asset Management SA) and BMA Valores SA (formerly known as Itaú Valores SA) was agreed and paid. Therefore, in accordance with IFRS 3 “Business Combinations”, retrospective adjustments amounted to 13,259,410 were made as of December 31, 2023, increasing “Other non-financial liabilities” and decreasing “Loss from associates and joint ventures”.

14

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

Measuring unit

These condensed consolidated interim Financial Statements have been restated for the changes in the general purchasing power of the functional currency (argentine pesos) as of June 30, 2025, as established by IAS 29 “Financial Reporting in Hyperinflationary Economies” and considering, in addition, specific rules established by BCRA through Communiqués “A” 6651, 6849, as amended and supplemented, which established the obligation to apply this method, from fiscal years beginning on or after January 1, 2020, and determined as the transition date December 31, 2018.

According to IFRS Accounting Standards as issued by the IASB, the restatement of Financial Statements is needed when the functional currency is the currency of a hyperinflationary economy. To achieve consistency in identifying an economic environment of that nature, IAS 29 establishes (i) certain nonexclusive qualitative indicators, consisting in analyzing the general population behavior, prices, interest rates and wages with changes in price indexes and the loss of purchasing power, and (ii) as quantitative characteristic, which is the most used condition in practice, to test if a three-year cumulative inflation rate is around 100% or more. Due to miscellaneous macroeconomic factors, the three-year inflation rate exceeded that figure and the Argentine government goals and other available estimates also indicate that this trend will not be reversed in the short term.

The restatement must be applied as if the economy had always been hyperinflationary, using a general price index that reflects changes in general purchasing power. To apply the restatement, a series of indexes are used, as prepared and published on a monthly basis by the Argentine Federation of Professional Councils of Economic Sciences (FACPCE, for its acronym in Spanish), which combines the consumer price index (CPI) on a monthly basis published by the Argentine Institute of Statistics and Censuses (INDEC, for its acronym in Spanish) since January 2017 (baseline month: December 2016) with the wholesale prices index (WPI) published by the INDEC until that date. For the months of November and December 2015, for which the INDEC did not publish the WPI variation, the CPI variation for CABA was used.

Considering the abovementioned indexes, the inflation rate was 15.10% and 79.77% for the six-month periods ended on June 30, 2025 and 2024, respectively, and 117.76% for the fiscal year ended on December 31, 2024.

Below is a description of the restatement mechanism provided by IAS 29 “Financial Reporting in Hyperinflationary Economies” and the restatement process for Financial Statements established by BCRA Communiqué “A” 6849, as supplemented.

Description of the main aspects of the restatement process for statements of financial position

(i) Monetary items (those with a fixed nominal value in local currency) are not restated because they are already expressed in the current measuring unit as of the end of the reporting period. In an inflationary period, an entity holding monetary assets generates purchasing power loss and holding monetary liabilities generates purchasing power gain, provided that the assets and liabilities are not linked to an adjustment mechanism that offsets to some extent those effects. Net gain or loss on a monetary basis is included in profit or loss for the reporting period.

(ii) Assets and liabilities subject to adjustments based on specific agreements are adjusted in accordance with such agreements.

(iii) Non-monetary items stated at current cost at the end of the reporting period, are not restated for presentation purposes in the statement of financial position, but the adjustment process must be completed to determine, in terms of constant measuring unit, the profit or loss produced by holding these non-monetary items.

(iv) Non-monetary items carried at historical cost or at current cost at some earlier date before the reporting date, are restated at indexes that reflects the general level of price variation from the acquisition or revaluation date to the closing date, proceeding then to compare the restated amounts of those assets with their recoverable amounts. Profit or loss of the period related to depreciation of property, plant and equipment and amortization of intangible assets, as well as any other non-monetary assets cost are determined on the basis of the new restated amounts.

(v) When an entity capitalizes borrowing cost in the non-monetary assets, the part of the borrowing cost that compensates the creditor for the effects of inflation is not capitalized.

(vi) The restatement of non-monetary assets in terms of a current measuring unit at the end of the reporting period, without an equivalent adjustment for tax purposes results in a taxable temporary difference and the recognition of deferred income tax liability whose balancing entry is recognized in profit or loss of the period. When, beyond the restatement, there is a revaluation of non-monetary assets, the deferred tax related to the restatement is recognized in profit or loss of the period and deferred tax related to the revaluation (surplus of the revalued value over the restated value) is recognized in other comprehensive income.

15

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

Description of the main aspects of the restatement process for statements of income and other comprehensive income

(i) Expenses and income are restated from the date the items were recorded, except for those profit or loss items that reflect or include, in their determination, the consumption of assets measured at purchasing power currency of a date prior to that which the consumption was recorded, which are restated using as basis the origination date of the assets related to the item; and also except for income or loss arising from comparing two measurements at purchasing power currency of different dates, for which it requires to identify the amounts compared, restate them separately and repeat the comparison, with the amounts already restated.

(ii) Gain or loss on monetary position will be classified based on the item that generated it and is presented in a separate line reflecting effect of inflation on monetary items.

Description of the main aspects of the restatement process for the statements of changes in shareholders’ equity

(i) As the transition date (December 31, 2018), the Bank has applied the following procedures:

a) The components of equity, except the ones mentioned below, were restated as from the date on which they were subscribed for or paid-in, according to the Communiqué “A” 6849 for each item.

b) Earnings reserved, including the special reserve for the first-time application of IFRS Accounting Standards, were stated at their nominal value as of the transition date (legal amount not restated).

c) Restated unappropriated retained earnings were determined as a difference between the restated net asset as of the transition date and the rest of the components of initial equity restated as described in the abovementioned paragraphs.

d) The accumulated balances of other comprehensive income were recalculated as of the transition date.

(ii) After the restatement as of the transition date in (i) above, all equity components are restated by applying the general price index from the beginning of the fiscal year and each variation of those components is restated from the contribution date or from the moment it was produced in any other way, and the accumulated OCI balances are redetermined according to the items that give rise to it.

Description of the main aspects of the restatement process for the statement of cash flows

(i) All items are restated in terms of the current measuring unit as of the end of the reporting period.

(ii) Monetary gain or loss generated by cash and cash equivalents are disclosed in the statement of cash flows after operating, investing and financing activities and financing activities, in a separate and independent line, under the description “Monetary effect on cash and cash equivalents”.

Accounting judgments, estimates and assumptions

The preparation of these condensed consolidated interim Financial Statements requires the Bank’s Management to consider significant accounting judgments, estimates and assumptions that impact on the reported assets and liabilities, income and expenses, as well as the determination and disclosure of contingent assets and liabilities, as of the end of the period. The Bank’s reported amounts are based on the best estimate regarding the probability of occurrence of different future events. Therefore, the uncertainties associated with the estimates and assumptions adopted may drive in the future to final amounts that may differ from those estimates and may require significant adjustments to the reported amounts of the affected assets and liabilities.

The Bank applies the same accounting judgments, estimates and assumptions described in Note 3 section “Accounting judgments, estimates and assumptions” to the consolidated Financial Statements as of December 31, 2024, already issued.

Standards amendments adopted in the fiscal year

For the fiscal year beginning on January 1, 2025, the following amendments to IFRS Accounting Standards as issued by the IASB are effective and they did not have a material impact on these condensed consolidated interim Financial Statements as a whole:

16

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

Amendments to IAS 21 - Lack of exchangeability

In August 2023, the IASB issued amendments to IAS 21 related to “Lack of exchangeability”. The amendment to IAS 21 specifies how an entity should assess whether a currency is exchangeable and how it should determine a spot exchange rate when exchangeability is lacking. A currency is considered to be exchangeable into another currency when an entity is able to obtain the other currency within a time frame that allows for a normal administrative delay and through a market or exchange mechanism in which an exchange transaction would create enforceable rights and obligations. If a currency is not exchangeable into another currency, an entity is required to estimate the spot exchange rate at the measurement date. An entity’s objective in estimating the spot exchange rate is to reflect the rate at which an orderly exchange transaction would take place at the measurement date between market participants under prevailing economic conditions. The amendments state that an entity may use an unadjusted observable exchange rate or other estimation technique.

When an entity estimates a spot exchange rate because a currency is not exchangeable into another currency, it will disclose information that enables users of the financial statements to understand how the currency not being exchangeable into another currency affects, or is expected to affect, the entity's performance, financial position and cash flows. This amendment did not have a material impact on the condensed consolidated interim Financial Statements.

New pronouncements

Pursuant to Communiqué “A” 6114 of the BCRA, as new IFRS Accounting Standards as issued by the IASB are approved and existing IFRS Accounting Standards are amended or revoked and once these changes are approved through the notices of approval issued by the FACPCE, the BCRA shall issue a statement on the approval thereof for financial entities. Generally, financial institutions shall not apply any IFRS in advance, except as specifically authorized at the time of the adoption thereof.

The new and amended standards and interpretations that are issued, but not yet effective, up to the date of issuance of these condensed consolidated interim Financial Statements are disclosed below. The Bank intends to adopt these standards, if applicable, when they become effective:

IFRS 18 – Presentation and disclosure in Financial Statements

In April 2024, the IASB issued IFRS 18, “Presentation and disclosure in Financial Statements”, which addresses the format for the presentation of profit or loss in the Financial Statements, management-defined performance measures and aggregation/disaggregation of disclosures information. This standard will replace IAS 1 and is effective as of January 1, 2027. The Bank is evaluating the effects that this standard would cause on the condensed consolidated interim Financial Statements.

Amendments to IFRS 9 and IFRS 7 – Classification and measurement of financial instruments

In May 2024, the IASB issued amendments to the classification and measurement of financial instruments, which:

· Clarify that a financial liability is derecognized on the “settlement date”, that is, when the related obligation is discharged, cancelled, expires or the liability otherwise qualifies for derecognition. It also introduces an accounting policy option to derecognize financial liabilities that are settled through an electronic payment system before settlement date if certain conditions are met.

· Clarify how to assess the contractual cash flow characteristics of financial assets that include environmental, social and governance (ESG) features and other similar contingent features.

· Clarify the treatment of non-recourse assets and contractually linked instruments.

· Require additional disclosures for financial assets and liabilities with contractual terms that reference a contingent event (including those that are ESG-linked), and equity instruments classified at fair value through other comprehensive income.

These amendments are effective as of January 1, 2026. The Bank is evaluating the effects that these amendments would cause on the condensed consolidated interim Financial Statements.

Improvements to IFRS Accounting Standards

In July 2024, the IASB issued Annual Improvements to IFRS Accounting Standards - Volume 11. The following is a summary of the amendments made:

17

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

· IFRS 1 First-time adoption of International Financial Reporting Standards – Hedge accounting by a first-time adopter.

· IFRS 7 Financial Instruments: Disclosures of gain or loss on derecognition, of deferred difference between fair value and transaction price, and credit risk disclosures; amendments are also made to paragraph IG1 of the Guidance on implementing.

· IFRS 9 Financial Instruments – Lessee Derecognition of Lease Liabilities. However, the amendment does not address how a lessee distinguishes between a lease modification as defined in IFRS 16 and an extinguishment of a lease liability in accordance with IFRS 9.

· IFRS 9 Financial Instruments – Transaction price: paragraph 5.1.3 of IFRS 9 has been amended to replace the reference to “transaction price as defined by IFRS 15 Revenue from contracts with customers” with “the amount determined by applying IFRS 15”.

· IFRS 10 Consolidated Financial Statements – Determination of a "De Facto Agent": paragraph B74 of IFRS 10 has been amended to clarify that the relationship described in paragraph B74 is just one example of various relationships that might exist between the investor and other parties acting as de facto agents of the investor.

· IAS 7 Statement of Cash Flows – Cost Method: paragraph 37 of IAS 7 has been amended to replace the term "cost method" with "at cost", following the prior deletion of the definition of "cost method".

These amendments are effective as of January 1, 2026. The Bank is evaluating the effects that these amendments would cause on the condensed consolidated interim Financial Statements.

4. CONTINGENT TRANSACTIONS

In order to meet specific financial needs of customers, the Bank’s credit policy also includes, among others, the granting of guarantees, securities, bonds, letters of credit and documentary credits. The Bank is also exposed to overdrafts and unused agreed credits on credit cards of the Bank. Since they imply a contingent obligation for the Bank, they expose the Bank to credit risks other than those recognized in the Statement of financial position and, therefore, they are an integral part of the total risk of the Bank.

As of June 30, 2025 and December 31, 2024, the Bank maintains the following maximum exposures to credit risk related to this type of transactions:

Composition		06/30/2025				12/31/2024
Undrawn commitments of credit cards and checking accounts			5,164,021,633				4,611,857,941
Guarantees granted (1)			171,621,105				234,571,613
Overdraft and unused agreed commitments (1)			65,739,281				53,409,756
Subtotal			5,401,382,019				4,899,839,310
Less: Allowance for Expected Credit Losses (ECL)			(8,845,957	)			(9,052,609	)
Total			5,392,536,062				4,890,786,701

(1) Includes transactions not covered by the financial system debtor classification standard. The Guarantees granted include an amount of 2,728,635 and 952,734, as of June 30, 2025 and December 31, 2024, respectively. The Overdraft and unused agreed commitments include an amount of 13,017,281 and 915,054, as of June 30, 2025 and December 31, 2024, respectively.

Risks related to the abovementioned contingent transactions have been assessed and are controlled within the framework of the Bank’s credit risk policy, as described in Note 44 to the consolidated Financial Statements as of December 31, 2024, already issued.

Disclosures related to the allowance for ECL are detailed in item 8.5 of Note 8 “Loss allowance for expected credit losses on credit exposures not measured at fair value through profit or loss”.

18

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

5. DEBT SECURITIES AT FAIR VALUE THROUGH PROFIT OR LOSS

The composition of debt securities at fair value through profit or loss as of June 30, 2025 and December 31, 2024 is as follows:

Composition		06/30/2025				12/31/2024
Government securities (1)			753,756,170				899,697,353
Private securities			40,899,521				69,288,115
Government securities – Foreign			1,286,374				1,274,249
Total			795,942,065				970,259,717

(1) In August 2024, the Bank entered into voluntary debt exchange under the terms of section 11, Presidential Decree No. 331/2022 issued by the Ministry of Economy. The security involved in such exchange transaction was as follows:

· Argentine Treasury Bonds in pesos adjusted by CER 4.25% - Maturity 02-14-2025 (T2X5) for a face value of 2,000,000,000.

Additionally, in January 2025, under the terms of section 2, Presidential Decree No. 846/2024 issued by the Ministry of Economy, the Bank entered into voluntary debt exchange. The security involved in such exchange transaction was as follows:

· Argentine Treasury Bonds in pesos zero coupon adjusted by CER - Maturity 06-30-2025 (TZX25) for a face value of 201,356,504,100.

6. OTHER FINANCIAL ASSETS

The composition of the other financial assets as of June 30, 2025 and December 31, 2024 is as follows:

Composition		06/30/2025				12/31/2024
Sundry debtors			183,314,677				180,185,437
Receivables from spot sales of government securities pending settlement			182,336,676				329,077,384
Debtors from operations			153,892,440				66,042,576
Private securities			51,886,004				53,133,108
Receivables from spot sales of foreign currency pending settlement			1,231,392				179,982
Other			2,822,980				2,599,856
Subtotal			575,484,169				631,218,343
Less: Allowances for ECL			(55,040	)			(322,175	)
Total			575,429,129				630,896,168

Disclosures related to allowance for ECL are detailed in item 8.4 of Note 8 “Loss allowance for expected credit losses on credit exposures not measured at fair value through profit or loss”.

7. LOANS AND OTHER FINANCING

The composition of loans and other financing as of June 30, 2025 and December 31, 2024 is as follows:

19

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

Composition		06/30/2025				12/31/2024
Non-financial public sector (1)			117,709,713				80,494,871
Other financial entities			108,026,093				72,663,488
Other financial entities			108,084,061				72,697,688
Less: allowance for ECL			(57,968	)			(34,200	)
Non-financial private sector and foreign residents			9,014,005,560				6,524,397,913
Overdrafts			1,659,145,099				622,829,719
Documents			1,497,828,699				1,175,415,470
Mortgage loans			714,359,389				580,171,475
Pledge loans			219,350,895				141,128,524
Personal loans			1,909,512,337				1,327,303,728
Credit cards			1,655,121,033				1,586,684,047
Financial leases			17,762,952				18,932,034
Other			1,614,190,872				1,213,854,590
Less: allowance for ECL			(273,265,716	)			(141,921,674	)
Total			9,239,741,366				6,677,556,272

(1) As explained in Note 3, ECL is not calculated to public sector exposures.

8. LOSS ALLOWANCE FOR EXPECTED CREDIT LOSSES ON CREDIT EXPOSURES NOT MEASURED AT FAIR VALUE THROUGH PROFIT OR LOSS

The Bank recognizes a loss allowance for expected credit losses on all credit exposures not measured at fair value through profit or loss, like debt instruments measured at amortized cost, debt instruments measured at fair value through other comprehensive income, loan commitments and financial guarantee contracts (not measured at fair value through profit or loss), contract assets and lease receivables.

Note 10 discloses financial assets measured at fair value on a recurring basis and financial assets not recognized at fair value. This classification is made pursuant to the expressed in Note 3 “Basis for the preparation of these Financial Statements and applicable accounting standards” to the consolidated Financial Statements as of December 31, 2024, already issued. Additionally, Note 10 explains the information related to the valuation process.

Moreover, considering the temporary exclusion established by BCRA mentioned in Note 3 “Applicable accounting standards” the Bank applies the impairment requirements for the recognition and measurement of a loss allowance for financial assets measured at amortized cost or at fair value through other comprehensive income, except for public sector exposures. In addition, the Bank applies the impairment requirements for guarantees granted, undrawn commitments of credit cards, checking account advance agreements and letters of credit, which are not recognized in the condensed consolidated interim Statement of financial position.

For the purpose of assessing the Bank’s credit risk exposure and identifying material credit risk concentration, disclosures regarding credit risk of financial assets and off balance items are as follows.

8.1 Loans and other financing measured at amortized cost

According to the nature of the information to be disclosed and the loan characteristics, the Bank groups them as follows:

Composition		06/30/2025				12/31/2024
Loans and other financing			9,513,065,050				6,819,512,146
Individual assessment			2,994,713,986				1,756,161,076
Collective assessment			6,518,351,064				5,063,351,070
Less: Allowance for ECL (1)			(273,323,684	)			(141,955,874	)
Total			9,239,741,366				6,677,556,272

(1) As explained in Note 3, ECL is not calculated to public sector exposures.

20

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

The Bank resolved to establish an allowance based on expert judgment, making an estimate that considers the effects of covering a scenario of uncertainty as a result of implementing the macroeconomic imbalances adjustment program and the inflation stabilization plan. As of June 30, 2025, this adjustment was estimated at 35,022,636.

The following table shows the credit quality and the carrying amount of credit risk, based on the Bank’s credit risk rating system, the probability of default (PD) and the year-end stage classification, taking into account what was mentioned in the previous paragraph. The amounts are presented gross of the impairment allowances.

					06/30/2025
Internal rating grade		Range PD			Stage 1				Stage 2				Stage 3				Total				%
Performing					8,837,276,433				210,225,962								9,047,502,395				95.10
High grade		0.00% - 3.50%			8,020,132,257				31,597,248								8,051,729,505				84.64
Standard grade		3.51% - 7.00%			460,512,831				54,556,165								515,068,996				5.41
Sub-standard grade		7.01% - 33.00%			356,631,345				124,072,549								480,703,894				5.05
Past due but not impaired (1)		33.01% - 99.99%			117,676,776				192,151,802								309,828,578				3.26
Impaired		100%											155,734,077				155,734,077				1.64
		Total			8,954,953,209				402,377,764				155,734,077				9,513,065,050				100
		%			94.13				4.23				1.64				100

					12/31/2024
Internal rating grade		Range PD			Stage 1				Stage 2				Stage 3				Total				%
Performing					6,479,847,440				123,535,714								6,603,383,154				96.83
High grade		0.00% - 3.50%			5,817,488,085				31,166,533								5,848,654,618				85.76
Standard grade		3.51% - 7.00%			384,706,110				28,461,883								413,167,993				6.06
Sub-standard grade		7.01% - 33.00%			277,653,245				63,907,298								341,560,543				5.01
Past due but not impaired (1)		33.01% - 99.99%			65,685,424				73,759,983								139,445,407				2.04
Impaired		100%											76,683,585				76,683,585				1.13
		Total			6,545,532,864				197,295,697				76,683,585				6,819,512,146				100
		%			95.98				2.89				1.13				100

(1) It includes transactions under collective assessment which are more than 5 days past due independently of the PD range assigned.

8.1.1 Loans on an individual assessment

The table below shows the credit quality and the debt balance to credit risk of corporate loans by grade of credit risk classification, based on the Bank’s internal credit rating system, PD range and classification by stages as of the date of the reporting period. The Bank’s internal credit rating systems and the evaluation and measurement approaches are explained in Note 44 section “Credit risk” to the consolidated Financial Statements as of December 31, 2024, already issued.

21

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

					06/30/2025
Internal rating grade		Range PD			Stage 1				Stage 2				Stage 3				Total				%
Performing					2,971,196,045				6,371,949								2,977,567,994				99.43
High grade		0.00% - 3.50%			2,951,674,205												2,951,674,205				98.56
Standard grade		3.51% - 7.00%			10,650,994				6,371,949								17,022,943				0.57
Sub-standard grade		7.01% - 33.00%			8,870,846												8,870,846				0.30
Past due but not impaired		33.01% - 99.99%
Impaired		100%											17,145,992				17,145,992				0.57
		Total			2,971,196,045				6,371,949				17,145,992				2,994,713,986				100
		%			99.22				0.21				0.57				100

				12/31/2024
Internal rating grade		Range PD		Stage 1				Stage 2				Stage 3				Total				%
Performing					1,718,718,891				17,436,904								1,736,155,795				98.86
High grade		0.00% - 3.50%			1,701,414,682				13,924,509								1,715,339,191				97.68
Standard grade		3.51% - 7.00%			5,123,070				3,512,395								8,635,465				0.49
Sub-standard grade		7.01% - 33.00%			12,181,139												12,181,139				0.69
Past due but not impaired		33.01% - 99.99%
Impaired		100%											20,005,281				20,005,281				1.14
		Total			1,718,718,891				17,436,904				20,005,281				1,756,161,076				100
		%			97.87				0.99				1.14				100

8.1.2 Loans on a collective assessment

The table below shows the credit quality and the debt balance to credit risk of loans portfolio under collective assessment, by grade of credit risk classification, based on the Bank’s internal credit rating system, PD range and classification by stages as of the date of the reporting period. The Bank’s internal credit rating systems and the evaluation and measurement approaches are explained in Note 44 section “Credit risk” to the consolidated Financial Statements as of December 31, 2024, already issued.

					06/30/2025
Internal rating grade		Range PD			Stage 1				Stage 2				Stage 3				Total				%
Performing					5,866,080,388				203,854,013								6,069,934,401				93.12
High grade		0.00% - 3.50%			5,068,458,052				31,597,248								5,100,055,300				78.24
Standard grade		3.51% - 7.00%			449,861,837				48,184,216								498,046,053				7.64
Sub-standard grade		7.01% - 33.00%			347,760,499				124,072,549								471,833,048				7.24
Past due but not impaired (1)		33.01% - 99.99%			117,676,776				192,151,802								309,828,578				4.75
Impaired		100%											138,588,085				138,588,085				2.13
		Total			5,983,757,164				396,005,815				138,588,085				6,518,351,064				100
		%			91.79				6.08				2.13				100

22

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

				12/31/2024
Internal rating grade		Range PD		Stage 1				Stage 2				Stage 3				Total				%
Performing					4,761,128,549				106,098,810								4,867,227,359				96.13
High grade		0.00% - 3.50%			4,116,073,403				17,242,024								4,133,315,427				81.63
Standard grade		3.51% - 7.00%			379,583,040				24,949,488								404,532,528				7.99
Sub-standard grade		7.01% - 33.00%			265,472,106				63,907,298								329,379,404				6.51
Past due but not impaired (1)		33.01% - 99.99%			65,685,424				73,759,983								139,445,407				2.75
Impaired		100%											56,678,304				56,678,304				1.12
		Total			4,826,813,973				179,858,793				56,678,304				5,063,351,070				100
		%			95.33				3.55				1.12				100

(1) It includes transactions which are more than 5 days past due independently of the PD range assigned.

8.2 Other debt securities at amortized cost

The criterion used to calculate ECL of Financial Trusts and Corporate Bonds is based on the rating granted by risk rating agencies to each debt security type making up each financial trust or each corporate bond series, respectively. This means that the factor to be used will vary depending on the debt securities holdings (A or B). The exposure at default (EAD) is assumed to be equal to the outstanding balance.

The table below shows the exposures gross of impairment allowances by stage:

		06/30/2025
Composition		Stage 1			Stage 2			Stage 3			Total			%
Corporate Bonds		5,909,113									5,909,113			59.71
Financial Trusts		3,987,066									3,987,066			40.29
Total		9,896,179									9,896,179			100
%		100									100

		12/31/2024
Composition		Stage 1			Stage 2			Stage 3			Total			%
Corporate Bonds		7,288,626									7,288,626			82.85
Financial Trusts		1,508,473									1,508,473			17.15
Total		8,797,099									8,797,099			100
%		100									100

The related ECL for Corporate Bonds as of June 30, 2025 and December 31, 2024 amounted to 11,008 and 4,739, respectively. The ECL related to Financial Trusts as of June 30, 2025 and December 31, 2024 amounted to 1,487 and 1,955, respectively.

8.3 Government securities at amortized cost or fair value through OCI

This group includes local government securities, provincial securities or BCRA instruments measured at amortized cost or fair value through OCI. For these assets, an individual assessment of the related parameters is performed. However, under domestic standards and according to Communiqué “A” 6847, no ECL is calculated for these instruments.

A breakdown of these investments and their characteristics is disclosed in Exhibit A to the condensed separate interim Financial Statements.

23

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

8.4 Other financial assets

The table below shows the exposures gross of impairment allowances by stage:

		06/30/2025
Composition		Stage 1			Stage 2			Stage 3			Total			%
Other financial assets		523,598,165									523,598,165			100
Total		523,598,165									523,598,165			100
%		100									100

		12/31/2024
Composition		Stage 1			Stage 2			Stage 3			Total			%
Other financial assets		578,085,235									578,085,235			100
Total		578,085,235									578,085,235			100
%		100									100

The ECL related to these types of instruments amounted to 55,040 and 322,175 as of June 30, 2025 and December 31, 2024, respectively.

8.5 Loans commitment

The table below shows the exposures gross of impairment allowances by stage:

		06/30/2025
Composition		Stage 1			Stage 2			Stage 3			Total			%
Undrawn commitments of credit cards and checking accounts		5,123,610,179			40,377,462			33,992			5,164,021,633			95.88
Guarantees granted		167,143,367			1,749,103						168,892,470			3.14
Overdraft and unused agreed commitments		52,719,235			2,765						52,722,000			0.98
Total		5,343,472,781			42,129,330			33,992			5,385,636,103			100
%		99.22			0.78						100

		12/31/2024
Composition		Stage 1			Stage 2			Stage 3			Total			%
Undrawn commitments of credit cards and checking accounts		4,586,095,905			25,689,772			72,264			4,611,857,941			94.16
Guarantees granted		233,244,802			374,077						233,618,879			4.77
Overdraft and unused agreed commitments		52,435,711			58,991						52,494,702			1.07
Total		4,871,776,418			26,122,840			72,264			4,897,971,522			100
%		99.47			0.53						100

The related ECL for undrawn commitments of credit cards and checking accounts as of June 30, 2025 and December 31, 2024 amounted to 8,036,036 and 8,501,940, respectively. The ECL related to guarantees granted as of June 30, 2025 and December 31, 2024 amounted to 790,725 and 512,003, respectively. The ECL related to overdraft and unused agreed commitments as of June 30, 2025 and December 31, 2024 amounted to 19,196 and 38,666, respectively.

24

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

In exhibit R “Value adjustment for credit losses – Allowances for uncollectibility risk”, the ECL movements at sector and product level are also disclosed.

9. OTHER DEBT SECURITIES

The composition of other debt securities as of June 30, 2025 and December 31, 2024 is as follows:

Composition		06/30/2025				12/31/2024
At fair value through OCI
Government securities (1)			197,102,532				428,369,397
Government securities – Foreign			88,309,340				76,565,231
Total at fair value through OCI			285,411,872				504,934,628
At amortized cost
Government securities			3,434,640,093				3,084,748,825
Private securities			9,883,684				8,790,405
Total at amortized cost			3,444,523,777				3,093,539,230
Total			3,729,935,649				3,598,473,858

(1) In February 2025, under the terms of section 2, Presidential Decree No. 846/2024 issued by the Ministry of Economy, the Bank entered into voluntary debt exchange. The security involved in such exchange transaction was as follows:

· Argentine Treasury Bonds in pesos adjusted by CER 4.25% - Maturity 02-14-2025 (T2X5) for a face value of 28,282,779,133.

The holding at amortized cost includes Argentine Treasury Bonds in pesos adjusted by CER – Maturity 06-30-2027 acquired in the first quarter of 2024 through primary subscription. In the third quarter of 2024, as a consequence of a reassessment of its monetary position, the Banks's Management resolved to reduce the position of inflation-adjustable securities through the exercise of put options with the BCRA and to maintain the residual portfolio of the aforementioned security until maturity. On June 11, 2025, all options were rescinded as part of the rescission offer published through BCRA Communiqué "B" 12997.

10. FAIR VALUE QUANTITATIVE AND QUALITATIVE DISCLOSURES

The fair value is the amount at which an asset can be exchanged, or at which a liability can be settled, in mutual independent terms and conditions between participants of the principal market (or the most advantageous market) who are duly informed and willing to transact in an orderly and current transaction, at the measurement date under the current market conditions whether the price is directly observable or estimated using a valuation technique under the assumption that the Bank is an ongoing business.

When a financial instrument is quoted in a liquid and active market, its price in the market in a real transaction provides the most reliable evidence of its fair value. Nevertheless, when there is no quoted price in the market or it cannot be evidence of the fair value of such instrument, in order to determine such fair value, the entities may use the market value of another instrument with similar characteristics, the analysis of discounted cash flows or other applicable techniques, which shall be significantly affected by the assumptions used.

Although the Bank’s Management has used its best judgment to estimate the fair values of its financial instruments, any technique to perform such estimate implies certain inherent fragility level.

25

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

Fair value hierarchy

The Bank uses the following hierarchy to determine and disclose the fair value of financial instruments, according to the valuation technique applied:

- Level 1: quoted prices (unadjusted) observable in active markets that the Bank accesses to at the measurement day for identical assets or liabilities. The Bank considers markets as active only if there are sufficient trading activities with respect to the volume and liquidity of the identical assets or liabilities and when there are binding and exercisable price quotes available at the end of each period or fiscal year, as applicable.

- Level 2: Valuation techniques for which the data and variables having a significant impact on the determination of the fair value recognized or disclosed are observable for the asset or liability, either directly or indirectly. Such inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical instruments in inactive markets and observable inputs other than quoted prices, such as interest rates and yield curves, implied volatilities, and credit spreads. In addition, adjustments to level 2 inputs may be required for the condition or location of the asset or the extent to which it relates to items that are comparable to the valued instrument. However, if such adjustments are based on unobservable inputs that are significant to the entire measurement, the Bank will classify the instruments as Level 3.

- Level 3: Valuation techniques for which the data and variables having a significant impact on the determination of the fair value recognized or disclosed are not based on observable market information.

The following tables show the hierarchy in the Bank’s financial asset and liability at fair value measurement on a recurring basis, as of June 30, 2025 and December 31, 2024:

		Financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2025
Description		Total				Level 1				Level 2				Level 3
Financial assets
At fair value through profit or loss
Debt securities at fair value through profit or loss			795,942,065				752,744,862				40,802,371				2,394,832
Derivatives instruments			1,386,891				1,152,770				234,121
Other financial assets			51,886,004				51,439,678								446,326
Equity instruments at fair value through profit or loss			25,165,286				21,419,406								3,745,880
At fair value through OCI
Other debt securities			285,411,872				285,411,872
Total			1,159,792,118				1,112,168,588				41,036,492				6,587,038
Financial liabilities
At fair value through profit or loss
Liabilities at fair value through profit or loss			13,618,843				13,618,843
Derivatives instruments			663,597				150,436				513,161
Total			14,282,440				13,769,279				513,161

26

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

		Financial assets and financial liabilities measured at fair value on a recurring basis as of December 31, 2024
Description		Total				Level 1				Level 2				Level 3
Financial assets
At fair value through profit or loss
Debt securities at fair value through profit or loss			970,259,717				923,958,819				42,406,459				3,894,439
Derivatives instruments (1)			22,195,032				38,548				22,156,484
Other financial assets			53,133,108				52,920,000								213,108
Financial assets delivered as guarantee			1,084,431				1,084,431
Equity instruments at fair value through profit or loss			10,037,616				2,449,972								7,587,644
At fair value through OCI
Other debt securities			504,934,629				504,934,629
Total			1,561,644,533				1,485,386,399				64,562,943				11,695,191
Financial liabilities
At fair value through profit or loss
Liabilities at fair value through profit or loss			8,267,933				8,267,933
Derivatives instruments			1,521,124				107,015				1,414,109
Total			9,789,057				8,374,948				1,414,109

(1) Includes the premium corresponding to the subscription of put options.

Description of the valuation process

The fair value of instruments categorized as level 1 was assessed by using quoted prices effective at the end of each period or fiscal year, as applicable, in active markets for identical assets or liabilities, if representative. Currently, for most of the government and private securities, there are two principal markets in which the Bank operates: BYMA and A3 Mercados SA (former Mercado Abierto Electrónico SA).

On the other hand, for certain assets and liabilities that do not have an active market, categorized as level 2, the Bank used valuation techniques that included the use of market transactions performed under mutual independent terms and conditions, between interested and duly informed parties, provided that they are available as well as references to the current fair value of another instrument being substantially similar, or otherwise the analysis of cash flows discounted at rates built from market information of similar instruments.

In addition, certain assets and liabilities included in this category were valued using price quotes of identical instruments in “less active markets”.

Finally, the Bank has categorized as level 3 those assets and liabilities for which there are no identical or similar transactions in the market. To determine the market value of these instruments the Bank used valuation techniques based on own assumptions and independent appraisers’ valuations. For this approach, the Bank mainly used the cash flow discount model.

As of June 30, 2025 and December 31, 2024, the Bank has neither changed the techniques nor the assumptions used to estimate the fair value of the financial instruments.

27

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

Below is the reconciliation between the amounts at the beginning and at the end of the reporting period of the financial assets recognized at fair value categorized as level 3:

		As of June 30, 2025
Reconciliation		Debt instruments				Other financial assets				Equity instruments at fair value through profit or loss
Amount at the beginning of the fiscal year			3,894,439				213,108				7,587,644
Transfers from level 3											(4,815,592	)
Profit and loss			1,951,142				66,108				1,645,086
Recognition and derecognition			(2,302,858	)			219,187				(4,310	)
Monetary effect			(1,147,891	)			(52,077	)			(666,948	)
Amount at the end of the period			2,394,832				446,326				3,745,880

		As of December 31, 2024
Reconciliation		Debt instruments				Other financial assets				Equity instruments at fair value through profit or loss
Amount at the beginning of the fiscal year			17,585				158,909				5,207,863
Profit and loss			597,330				(247,636	)			6,223,276
Recognition and derecognition			3,697,320				519,773				9,493
Monetary effect			(417,796	)			(217,938	)			(3,852,988	)
Amount at the end of the fiscal year			3,894,439				213,108				7,587,644

The fair values of instruments measured at level 3 are determined by the Bank based on valuation techniques derived from the "income method", whose main unobservable data are related to discount rates, and on which a reasonable change in such input data would not generate significant effects on the Financial Statements taken as a whole.

Changes in fair value levels

The Bank monitors the availability of information in the market to evaluate the classification of financial instruments into the fair value hierarchy as well as the resulting determination of transfers between levels 1, 2 and 3 at each period end.

Except for the foregoing, as of June 30, 2025 and December 31, 2024, the Bank has not recognized any transfers between levels 1, 2 and 3.

Financial assets and liabilities not measured at fair value

Next follows a description of the main methods and assumptions used to determine the fair values of financial instruments not recognized at their fair value in these condensed consolidated interim Financial Statements:

- Instruments with fair value similar to the carrying amount: financial assets and liabilities that are liquid or have short-term maturities (less than three months) were deemed to have a fair value similar to the carrying amount.

- Fixed and variable rate of financial instruments: the fair value of financial assets was recognized discounting future cash flows at current market rates for each period or fiscal year, as applicable, for financial instruments of similar characteristics. The estimated fair value of fixed-interest rate deposits and liabilities was assessed discounting future cash flows by using estimated interest rates for deposits or placings with similar maturities to those of the Bank’s portfolio.

- For public listed assets and liabilities, or those for which the prices are reported by certain renowned pricing providers, the fair value was determined based on such prices.

28

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

The following table shows a comparison between the fair value and the carrying amount of financial instruments not measured at fair value as of June 30, 2025 and December 31, 2024:

		06/30/2025
Composition		Carrying amount				Level 1				Level 2				Level 3				Fair value
Financial assets
Cash and deposits in banks			2,497,537,577				2,497,537,577												2,497,537,577
Other financial assets			523,543,125				523,543,125												523,543,125
Loans and other financing			9,239,741,366												8,521,051,072				8,521,051,072
Other debt securities			3,444,523,777				3,025,588,668				114,871,656								3,140,460,324
Financial assets delivered as guarantee			282,702,863				282,702,863												282,702,863
Total			15,988,048,708				6,329,372,233				114,871,656				8,521,051,072				14,965,294,961
Financial liabilities
Deposits			10,615,095,920				5,241,737,316								5,383,724,054				10,625,461,370
Other financial liabilities			1,338,518,403				1,306,408,552				32,597,257								1,339,005,809
Financing received from the BCRA and other financial institutions			68,362,615				43,424,156				24,938,459								68,362,615
Issued corporate bonds			482,325,018								482,325,018								482,325,018
Subordinated corporate bonds			481,481,261								469,084,989								469,084,989
Total			12,985,783,217				6,591,570,024				1,008,945,723				5,383,724,054				12,984,239,801

		12/31/2024
Composition		Carrying amount				Level 1				Level 2				Level 3				Fair value
Financial assets
Cash and deposits in banks			3,096,842,960				3,096,842,960												3,096,842,960
Other financial assets			577,763,060				577,763,060												577,763,060
Loans and other financing			6,677,556,272												6,252,316,851				6,252,316,851
Other debt securities			3,093,539,229				2,843,122,861				70,757,205								2,913,880,066
Financial assets delivered as guarantee			283,320,838				283,320,838												283,320,838
Total			13,729,022,359				6,801,049,719				70,757,205				6,252,316,851				13,124,123,775
Financial liabilities
Deposits			9,694,277,731				6,379,675,198								3,333,659,371				9,713,334,569
Repo transactions			21,818,577				21,818,577												21,818,577
Other financial liabilities			1,187,657,357				1,160,860,274				31,993,944								1,192,854,218
Financing received from the BCRA and other financial institutions			50,035,744				47,848,784				2,186,959								50,035,743
Issued corporate bonds			17,022,561								17,022,561								17,022,561
Subordinated corporate bonds			480,731,712								463,179,240								463,179,240
Total			11,451,543,682				7,610,202,833				514,382,704				3,333,659,371				11,458,244,908

29

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

11. BUSINESS COMBINATIONS

11.1 Macro Agro SAU (formerly known as Comercio Interior SAU)

On May 18, 2023, the Bank acquired from Inversora Juramento SA, 100% of the capital stock and votes of Macro Agro SAU (formerly known as Comercio Interior SAU), a company engaged in the grain brokerage business.

The Special Shareholders’ Meeting held on October 6, 2023 deemed it appropriate and approved the change of its corporate name to “Macro Agro S.A.U.” and, consequently, subject to the authorization of the Business Associations Regulatory Agency of the Province of Santa Fe (IGPJ, for its acronym in Spanish), proposed the amendment of section 1 of the by-laws. On October 27, 2023, the proceedings were filed with the IGPJ. Additionally, on March 5, 2024, the Bank was notified of the resolution of the IGPJ, which approved the reform of the by-laws with the name of Macro Agro SAU.

Assets acquired and liabilities assumed

The fair value of the assets identified and liabilities assumed as of the acquisition date is as follows:

Composition		Fair value recognized on acquisition
Assets
Cash and deposits in banks			119,759
Debt securities at fair value through profit or loss			2,472,472
Loans and other financing			346,000
Financial assets delivered as guarantee			4,761,113
Other financial assets			18,530,119
Property, plant and equipment			334,583
Intangible assets			74,378
Other non-financial assets			274,867
			26,913,291
Liabilities
Other financial liabilities			18,361,412
Provisions			51,797
Current income tax liabilities			312,025
Deferred income tax liabilities			368,708
Other non-financial liabilities			5,103,619
			24,197,561
Net assets acquired at fair value			2,715,730

The goodwill generated by the acquisition of Macro Agro SAU (formerly known as Comercio Interior SAU) amounted to 852,068.

In accordance with the share purchase contract, the transaction price was set at USD 5,218,800, which will be paid in variable annual installments using the proceeds from the dividends of Macro Agro SAU (formerly known as Comercio Interior SAU). Thus, the Bank assigns 100% of the rights over the dividends in favor of the seller, up to the full payment of the purchase price. Each installment will become due within fifteen days as from the Shareholders’ Meeting approval of the Financial Statements of Macro Agro SAU (formerly known as Comercio Interior SAU), starting the first installment in 2024.

To measure the liabilities arising from this transaction the Bank estimated the company's future income, discounting them at its own business rate. As a consequence, at the acquisition date, the liability amounted to USD 2,973,375.

30

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

On September 29, 2023, Macro Agro SAU (formerly known as Comercio Interior SAU) distributed cash dividends amounting to 440,000 (not restated). Those dividends were received by Banco Macro SA on October 2, 2023. As it was explained in the previous paragraphs, dividends were used to pay the liability arising from the purchase, which decreased by USD 558,651.70.

Additionally, on March 12, 2024, Macro Agro SAU (formerly known as Comercio Interior SAU) distributed cash dividends amounting to 450,669 (not restated), which were received by Banco Macro SA on March 13, 2024. As a consequence of what was explained in the previous paragraphs, those dividends were used to pay the liability arising from the purchase, which decreased by USD 430,639.40.

Finally, on April 23, 2025, Macro Agro SAU (formerly known as Comercio Interior SAU) distributed cash dividends amounting to 710,000 (not restated), which were received by Banco Macro SA on May 5, 2025. As a consequence of what was explained in the previous paragraphs, those dividends were used to pay the liability arising from the purchase, which decreased by USD 598,534.85.

11.2 Banco BMA SAU (formerly known as Banco Itaú Argentina SA) and its subsidiaries

On August 23, 2023, Banco Macro SA entered into a stock purchase agreement with Itaú Unibanco Holding SA, through its affiliates Itaú Unibanco SA, Banco Itaú BBA SA and Itaú Consultoria de Valores Mobiliários e Participaçoes SA (collectively, “Itaú”), pursuant to which, subject to certain conditions (substantially the approval of the transaction by the BCRA), the Bank would acquire from Itaú the shares representing 100% of the capital stock and votes of Banco Itaú Argentina SA, Itaú Asset Management SA and Itaú Valores SA.

On November 2, 2023, the Board of Directors of the BCRA authorized the abovementioned purchase, as per the following breakdown:

· Banco Itaú Argentina SA: 100% of the capital stock and votes of Banco Itaú Argentina SA were acquired, represented by 729,166,165 ordinary shares and 14,565,089 preferred shares, out of which: (i) 721,697,119 ordinary shares and 14,565,089 preferred shares representing 98.995733% of capital stock were acquired from Itaú Unibanco SA and (ii) 7,469,046 ordinary shares representing 1.004267% of capital stock were acquired from Itaú BBA SA.

· Itaú Asset Management SA: 11,950 shares representing 13.00% of the capital stock of Itaú Asset Management SA were directly acquired from Itaú Unibanco SA, and indirectly, 80,000 shares, which represent 87.00% of the capital stock of Itaú Asset Management SA through the acquisition of Banco Itaú Argentina SA.

· Itaú Valores SA: 6,814,535 shares representing 13.00% of the capital stock and votes of Itaú Valores SA were directly acquired from Itaú Consultoria de Valores Mobiliários e Participações SA; and indirectly, 45,604,965 shares, representing 87.00% of the capital stock and votes of Itaú Valores SA, through the acquisition of Banco Itaú Argentina SA.

The price of this transaction was established at USD 50,000,000, which was set at the time of the agreement and paid on November 3, 2023, and an additional amount resulting from the adjustment of the result obtained by Banco BMA SAU (formerly known as Banco Itaú Argentina SA), BMA Asset Management SGFCISA (formerly known as Itaú Asset Management SA) and BMA Valores SA (formerly known as Itaú Valores SA) between April 1, 2023 and the closing date established in the purchase contract, which was agreed between the parties in May 2024 for an amount of USD 7,564,706. The difference between such additional amount and the estimated additional amount at the acquisition date for an amount of 13,259,410 was recorded in comparative information for prior year, presented in lines “Other non-financial liabilities” and “Loss from associates and joint ventures” in accordance with IFRS 3, as it is explained in section “Comparative information” of the Note 3.

Through Communiqué “C” 99120, the BCRA informed that according to the authorization gave in due time through Resolution No. 352 of the Board of Directors dated October 31, 2024, on November 19, 2024, Banco Macro SA performed the merger by absorption of Banco BMA SAU. This merger had in turn been resolved by the Shareholders' Meeting held on May 6, 2024, with retroactive effect to January 1, 2024, also approved by the National Securities Commission (CNV, for its acronym in Spanish) on November 6, 2024, and registered in the Public Registry on November 14, 2024. Therefore, since November 19, 2024, the authorization of Banco BMA SAU to operate as a commercial bank was revoked, and its buildings were incorporated to Banco Macro SA as branches.

31

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

12. INVESTMENTS IN ASSOCIATES AND JOINT VENTURES

12.1 Associates

The following table provides summarized financial information about the Bank’s investment in its associates:

		Proportional Bank’s			Financial position						Profit (Loss) of the period
Entity		interest			06/30/2025			12/31/2024			06/30/2025			06/30/2024
Macro Warrants SA (1) and (2)		5	%		25,712			30,276			(4,564	)		1,305
Play Digital SA (1) and (2)		9.95	%		407,556			1,733,043			(1,325,498	)		(814,572	)
Alianza SGR (1), (2) and (3)		25	%					135,478						24,076

(1) The existence of significant influence is evidenced by the representation that the Bank has in the Board of Directors of these associates.

(2) To measure the investment, accounting information of this associate as of March 31, 2025 has been used. Additionally, significant transactions conducted or events that occurred between April 1, 2025 and June 30, 2025 have been considered.

(3) Consolidated with the Bank since January 2025, as control was obtained in such month.

12.2 Joint ventures

The following table provides summarized financial information about the Bank’s investment in its joint ventures:

		Proportional Bank’s			Financial position						Profit (Loss) of the period
Entity		interest			06/30/2025			12/31/2024			06/30/2025			06/30/2024
Banco Macro SA – Bizland SAU Unión transitoria		50	%		3,827,519			3,194,927			1,195,846			1,047,700
Finova SA (1)		50	%		188,697			202,829			(14,132	)		(40,676	)

(1) To measure the investment, accounting information of this associate as of March 31, 2025 has been used. Additionally, significant transactions conducted or events that occurred between April 1, 2025 and June 30, 2025 have been considered.

13. OTHER NON-FINANCIAL ASSETS

The composition of the other non-financial assets as of June 30, 2025 and December 31, 2024 is as follows:

Composition		06/30/2025				12/31/2024
Investment property (see Exhibit F)			80,187,106				78,403,937
Tax advances			28,071,228				11,686,087
Advanced prepayments			27,320,681				27,302,342
Other			1,926,372				3,761,662
Total			137,505,387				121,154,028

14. RELATED PARTIES

A related party is a person or entity that is related to the Bank:

	-	has control or joint control of the Bank;
	-	has significant influence over the Bank;
	-	is a member of the key management personnel of the Bank or of the parent of the Bank;
	-	members of the same group;
	-	one entity is an associate (or an associate of a member of a group of which the other entity is a member).

32

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Bank, directly or indirectly. The Bank considers as key management personnel, for the purposes of IAS 24, the members of the Board of Directors and the senior management members of the Risk Management Committee, the Assets and Liabilities Committee and the Senior Credit Committee.

As of June 30, 2025 and December 31, 2024, amounts balances related to transactions generated with related parties are as follows:

		As of June 30, 2025
		Main subsidiaries (1)
		Macro Bank Limited				Macro Securities SAU (2)				Argenpay SAU				Fintech SGR				Macro Agro SAU (formerly known as Comercio Interior SAU)				Alianza SGR				Associates				Key management personnel (3)				Other related parties				Total
Assets
Cash and deposits in banks			10,105																																			10,105
Debt securities at fair value through profit or loss																																			491,273			491,273
Derivative financial instruments																																			13,210			13,210
Other financial assets															30,103,978								8,455,394								2,446				598,452			39,160,270
Loans and other financing (4)
Documents																																			158,751			158,751
Overdrafts																											1				39,220				68,436,758			68,475,979
Credit cards																											184				1,016,924				282,459			1,299,567
Financial leases																																			395,486			395,486
Personal loans
Mortgage loans																															1,332,986				664,067			1,997,053
Other (5)																															1,938,238				22,451,103			24,389,341
Guarantees granted																															1,791,125				16,663,462			18,454,587
Total assets			10,105												30,103,978								8,455,394				185				6,120,939				110,155,021			154,845,622
Liabilities
Deposits							73,623,927				5,452,881				1,152				25,573				1,406				209,588				51,214,257				60,990,290			191,519,074
Liabilities at fair value through profit or loss																																			3,660,300			3,660,300
Derivative financial instruments																																			52,527			52,527
Other financial liabilities																															657,823				7,675,958			8,333,781
Issued corporate bonds							1,426,242								3,494,514								938,385															5,859,141
Subordinated corporate bonds							2,601,712												181,599																			2,783,311
Other non-financial liabilities											39,621												62,495												3,534,290			3,636,406
Total liabilities							77,651,881				5,492,502				3,495,666				207,172				1,002,286				209,588				51,872,080				75,913,365			215,844,540

(1) These transactions are eliminated during the consolidation process.

(2) It includes the amounts from its subsidiary Macro Fondos SGFCISA.

(3) Includes close family members of the key management personnel.

(4) The maximum financing amount for Loans and other financing as of June 30, 2025 for Macro Agro SAU (formerly known as Comercio Interior SAU), Associates, Key management personnel and Other related parties amounted to 134, 1,508,150, 15,322,844 and 161,020,145, respectively.

(5) It is related to Loans and other financing not disclosed in other items, mainly Other loans, Financing of foreign exchange transactions and Loans with government securities.

33

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

		As of December 31, 2024
		Main subsidiaries (1)
		Macro Bank Limited				Macro Securities SAU (2)				Argenpay SAU				Fintech SGR				Macro Agro SAU (formerly known as Comercio Interior SAU)				Associates				Key management personnel (3)				Other related parties				Total
Assets
Cash and deposits in banks			10,057																															10,057
Debt securities at fair value through profit or loss																															433,800			433,800
Derivative financial instruments																															13,877			13,877
Other financial assets															28,666,087								2,932				108,706				725,594			29,503,319
Loans and other financing (4)
Documents																															590,680			590,680
Overdrafts																							4,385				677				35,442,674			35,447,736
Credit cards																							3,963				894,898				320,211			1,219,072
Financial leases																			281												41,412			41,693
Personal loans																											12,434							12,434
Mortgage loans																											1,348,888							1,348,888
Other (5)																											2,818,139				26,016,990			28,835,129
Guarantees granted																															33,278,074			33,278,074
Total assets			10,057												28,666,087				281				11,280				5,183,742				96,863,312			130,734,759
Liabilities
Deposits							83,336,733				1,660,471				3,921				6,420,041				364,640				79,398,992				45,656,712			216,841,510
Other financial liabilities																							329				550,760				8,194,446			8,745,535
Subordinated corporate bonds							181,010								1,598,920				181,010															1,960,940
Other non-financial liabilities															184,151																3,710,812			3,894,963
Total liabilities							83,517,743				1,660,471				1,786,992				6,601,051				364,969				79,949,752				57,561,970			231,442,948

(1) These transactions are eliminated during the consolidation process.

(2) It includes the amounts from its subsidiary Macro Fondos SGFCISA.

(3) Includes close family members of the key management personnel.

(4) The maximum financing amount for Loans and other financing as of December 31, 2024 for Macro Securities SAU, Macro Agro SAU (formerly known as Comercio Interior SAU), Associates, Key management personnel and Other related parties amounted to 14,346,680, 61,232, 1,037,945, 8,022,934 and 186,614,659, respectively.

(5) It is related to Loans and other financing not disclosed in other items, mainly Other loans, Financing of foreign exchange transactions and Loans with government securities.

Profit or loss related to transactions generated during the six-month periods ended June 30, 2025 and 2024 with related parties are as follows:

34

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

		As of June 30, 2025
		Main subsidiaries (1)
		Macro Bank Limited			Macro Securities SAU (2)				Argenpay SAU				Fintech SGR				Macro Agro SAU (formerly known as Comercio Interior SAU)				Alianza SGR				Associates				Key management personnel (3)				Other related parties			Total
Income / (loss)
Interest income					11												4,306								125,050				762,843				9,634,597			10,526,807
Interest expense					(1,725,530	)			(179,063	)							(714,408	)							(38,176	)			(1,206,538	)			(1,526,291	)		(5,390,006)
Commissions income					202,291								3,470								778				4,076				294				964,244			1,175,153
Commissions expense													(103,156	)															(338	)			(531,467	)		(634,961)
Net gain from measurement of financial instruments at fair value through profit or loss																																	(64,555	)		(64,555)
Other operating income									1,077				4,174,926				14,324				713,160				3,953				21,267				49,624			4,978,331
Administrative expense																									(4,816,884	)			(544	)			(1,742,886	)		(6,560,314)
Other operating expense																																	(1,008,775	)		(1,008,775)
Total income / (loss)					(1,523,228	)			(177,986	)			4,075,240				(695,778	)			713,938				(4,721,981	)			(423,016	)			5,774,491			3,021,680

(1) These transactions are eliminated during the consolidation process.

(2) It includes the amounts from its subsidiary Macro Fondos SGFCISA.

(3) Includes close family members of the key management personnel.

		As of June 30, 2024
		Main subsidiaries (1)
		Macro Bank Limited			Macro Securities SAU (2)			Argenpay SAU			Fintech SGR			Macro Agro SAU (formerly known as Comercio Interior SAU)			Associates			Key management personnel (3)			Other related parties		Total
Income / (loss)
Interest income					97,839									8,829			6			2,046,226			6,840,157		8,993,057
Interest expense														(98,594	)		(61,371	)		(70,399	)		(1,458,088	)	(1,688,452)
Commissions income					77,290						5,552						535			573			589,940		673,890
Commissions expense											(70,489	)					(74,958	)		(144	)		(124,057	)	(269,648)
Net gain from measurement of financial instruments at fair value through profit or loss																							193,331		193,331
Other operating income											5,168,247			7,628			2,227			16,940			33,933		5,228,975
Administrative expense																	(2,312,124	)					(1,645,775	)	(3,957,899)
Other operating expense																							(781,942	)	(781,942)
Total income / (loss)					175,129						5,103,310			(82,137	)		(2,445,685	)		1,993,196			3,647,499		8,391,312

(1) These transactions are eliminated during the consolidation process.

(2) It includes the amounts from its subsidiary Macro Fondos SGFCISA.

(3) Includes close family members of the key management personnel.

Transactions generated by the Bank with its related parties for arranged transactions within the course of the usual and ordinary course of business were performed in normal market conditions, both as to interest rates and prices and as to the required guarantees.

35

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

The Bank does not have loans granted to directors and other key management personnel secured with shares.

Total remunerations received as salary and bonus by the key management personnel as of June 30, 2025 and 2024 amounted to 4,656,002 and 4,503,653, respectively.

In addition, fees received by the Directors as of June 30, 2025 and 2024 amounted to 10,186,683 and 34,514,817, respectively.

Additionally, the composition of the Board of Directors and key management personnel of the Bank and its subsidiaries is as follows:

Composition		06/30/2025				12/31/2024
Board of Directors			23				23
Senior managers of the key management personnel			10				10
Total			33				33

15. DEPOSITS

The composition of deposits as of June 30, 2025 and December 31, 2024 is as follows:

Composition		06/30/2025				12/31/2024
Non-financial public sector			877,424,074				740,879,453
Financial sector			13,440,618				13,837,907
Non-financial private sector and foreign residents			9,724,231,228				8,939,560,371
Checking accounts			1,104,220,046				1,186,357,310
Saving accounts			3,572,445,964				4,556,473,551
Time deposits			4,830,021,474				2,359,047,319
Investment accounts			94,473,687				717,091,917
Other			123,070,057				120,590,274
Total			10,615,095,920				9,694,277,731

16. OTHER FINANCIAL LIABILITIES

The composition of the other financial liabilities as of June 30, 2025 and December 31, 2024 is as follows:

Composition		06/30/2025				12/31/2024
Credit and debit card settlement - due to merchants			726,899,113				703,623,407
Amounts payable for other spot purchases pending settlement			287,504,792				157,172,689
Payment orders pending settlement foreign trade			78,831,065				61,612,684
Collections on account and behalf of others			69,382,918				43,898,058
Finance leases liabilities			19,143,566				16,100,491
Amounts payable for spot purchases of foreign currency pending settlement			9,226,468				63,475,360
Amounts payable for spot purchases of government securities pending settlement			3,701,730				6,254,026
Other			143,828,751				135,520,642
Total			1,338,518,403				1,187,657,357

36

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

17. PROVISIONS

This item includes the amounts estimated to face a liability of probable occurrence, which if occurring, would originate a loss for the Bank.

Exhibit J “Changes in provisions” presents the changes in provisions as of June 30, 2025 and December 31, 2024.

The expected terms to settle these obligations are as follows:

		06/30/2025
Composition		Within 12 months				Over 12 months				06/30/2025				12/31/2024
For administrative, disciplinary and criminal penalties							500				500				576
Letters of credits, guarantees and other commitments (1)			8,845,957								8,845,957				9,052,609
Commercial claims in progress (2)			2,836,638				513,336				3,349,974				5,077,141
Labor lawsuits			1,095,825				731,720				1,827,545				1,605,266
Pension funds - reimbursement			2,089,117				272,690				2,361,807				1,811,659
Other							1,731,398				1,731,398				2,100,450
Total			14,867,537				3,249,644				18,117,181				19,647,701

(1) These amounts correspond to the ECL calculated for contingent transactions, which are mentioned in Note 4.

(2) See also Note 39.2.

In the opinion of the Bank’s Management and its legal counsel, there are no other significant effects other than those disclosed in these condensed consolidated interim Financial Statements, the amounts and settlement terms of which have been recognized based on the current value of such estimates, considering the probable settlement date thereof.

18. OTHER NON-FINANCIAL LIABILITIES

The composition of other non-financial liabilities as of June 30, 2025 and December 31, 2024 is as follows:

Composition		06/30/2025				12/31/2024
Dividends payable (see Note 30)			306,083,000				1,414
Withholdings and collections			108,917,475				103,973,805
Salaries, bonuses and payroll taxes payables			108,510,547				148,832,873
Taxes payables			78,530,899				63,481,799
Miscellaneous payables - provisions of goods and services			37,798,880				46,809,419
Retirement pension payment orders pending settlement			9,233,515				9,036,409
Directors’ and syndics’ fees payable			6,292,927				9,594,053
Other			39,708,155				41,240,828
Total			695,075,398				422,970,600

37

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

19. ANALYSIS OF FINANCIAL ASSETS TO BE RECOVERED AND FINANCIAL LIABILITIES TO BE SETTLED

The following tables show the analysis of financial assets and liabilities the Bank expects to recover and settle as of June 30, 2025 and December 31, 2024:

06/30/2025		Without due date				Total up to 12 months				Total over 12 months
Assets
Cash and deposits in banks			2,497,537,577
Debt securities at fair value through profit or loss							408,545,087				387,396,978
Derivative financial instruments							1,386,891
Other financial assets			108,515,111				416,646,263				50,267,755
Loans and other financing (1)			18,329,207				6,717,913,842				2,503,498,317
Other debt securities							726,086,967				3,003,848,682
Financial assets delivered as guarantee			282,702,863
Equity instruments at fair value through profit or loss			25,165,286
Total Assets			2,932,250,044				8,270,579,050				5,945,011,732
Liabilities
Deposits			5,191,296,999				5,419,700,050				4,098,871
Financial liabilities at fair value through profit or loss							13,618,843
Derivative financial instruments							663,597
Other financial liabilities							1,308,187,188				30,331,215
Financing received from the BCRA and other financial institutions							67,884,535				478,080
Issued corporate bonds							18,717,468				463,607,550
Subordinated corporate bonds							6,593,139				474,888,122
Total Liabilities			5,191,296,999				6,835,364,820				973,403,838

(1) The amounts included in “without due date” are related to the non-performing portfolio.

12/31/2024		Without due date				Total up to 12 months				Total over 12 months
Assets
Cash and deposits in banks			3,096,842,960
Debt securities at fair value through profit or loss							758,655,146				211,604,571
Derivative financial instruments							22,195,032
Other financial assets			109,836,079				467,755,901				53,304,188
Loans and other financing (1)			1,658,090				4,834,618,696				1,841,279,486
Other debt securities							723,330,165				2,875,143,693
Financial assets delivered as guarantee			257,896,540				26,508,729
Equity instruments at fair value through profit or loss			10,037,616
Total Assets			3,476,271,285				6,833,063,669				4,981,331,938

38

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

12/31/2024		Without due date				Total up to 12 months				Total over 12 months
Liabilities
Deposits			6,329,846,354				3,364,270,547				160,830
Financial liabilities at fair value through profit or loss							8,267,933
Derivative financial instruments							1,521,124
Repo transactions							21,818,577
Other financial liabilities							1,169,400,022				18,257,335
Financing received from the BCRA and other financial institutions							49,624,018				411,726
Issued corporate bonds							17,022,561
Subordinated corporate bonds							7,312,414				473,419,298
Total Liabilities			6,329,846,354				4,639,237,196				492,249,189

(1) The amounts included in “without due date” are related to the non-performing portfolio.

20. DISCLOSURES BY OPERATING SEGMENT

For management purposes, the Bank’s Management has determined that it has only one operating segment related to the banking business. In this sense, the Bank supervises the operating segment income (loss) in order to make decisions about resources to be allocated to the segment and assess its performance, which is measured on a consistent basis with the profit or loss in the Financial Statements.

21. INCOME TAX

a) Inflation adjustment on income tax

Tax Reform Law 27430, amended by Laws 27468 and 27541, established the following, regarding inflation adjustment on income tax for the fiscal years beginning on January 1, 2018:

i) such adjustment will be applicable in the fiscal year in which the variation of the CPI is higher than 100% for the thirty-six months before the end of the tax period;

ii) regarding the first, second and third fiscal year after its effective date, this procedure will be applicable if the variation of the abovementioned index, calculated from the beginning until the end of each of those fiscal years exceeds 55%, 30% and 15% for the first, second and third fiscal years of application, respectively;

iii) the positive or negative inflation adjustment, as the case may be, corresponding to the first, second and third fiscal years beginning on January 1, 2018, shall be allocated one third in the fiscal year for which the adjustment is calculated and the remaining two thirds in equal parts in the following two immediate fiscal years;

iv) the positive or negative inflation adjustment, corresponding to the first and second fiscal years beginning on January 1, 2019, shall be allocated one sixth to the fiscal year in which the adjustment is determined and the remaining five sixth in the following immediate fiscal years; and

v) for fiscal years beginning on January 1, 2021, 100% of the adjustment may be deducted in the year in which it is determined.

As of June 30, 2025 and December 31, 2024, all the conditions established by the income tax Law to practice the inflation adjustment are met (see section “Fiscal years 2019 and 2020” and “Fiscal year 2021” of this note).

b) Corporate income tax rate

On June 16, 2021, through Decree No. 387/2021, Law No. 27630 was issued. This law established for fiscal years beginning on or after January 1, 2021, a progressive tax rates scheme of 25%, 30% and 35% which will be applied, on a progressive basis, to the taxable accumulated net profit at the end of each fiscal year.

39

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 

AS OF JUNE 30, 2025 

(Translation of Financial Statements originally issued in Spanish – See Note 44) 

(Figures stated in thousands of pesos in constant currency)

c) The main items of income tax expense in the condensed consolidated interim Financial Statements are as follows:

		06/30/2025								06/30/2024
Composition		Quarter ended 06/30/2025				Accumulated from beginning of year up to 06/30/2025				Quarter ended 06/30/2024				Accumulated from beginning of year up to 06/30/2024
Expense / (profit) from current income tax (1)			40,732,860				48,987,767				(144,332,557	)			18,815,262
Expense / (profit) from deferred income tax			55,048,226				83,318,644				(45,203,662	)			(60,391,007	)
Expense / (profit) from income tax recognized in the statement of income			95,781,086				132,306,411				(189,536,219	)			(41,575,745	)
Expense / (profit) from income tax recognized in other comprehensive income			2,467,385				2,756,132				(33,002,119	)			(35,408,262	)
Total			98,248,471				135,062,543				(222,538,338	)			(76,984,007	)

(1) Includes the restatement in constant currency of the current tax charge generated during the year, the adjustments recognized in the current year for previous periods and the effects of including in the OCI the applicable portion of the current tax.

Fiscal years 2019 and 2020

As decided by the Board of Directors in the meeting held on May 11, 2020, considering certain case law on the matter assessed by its legal counsel and tax advisors, on May 26 of that year, the Bank filed with the Administración Federal de Ingresos Públicos (former AFIP, for its acronym in Spanish), current Agencia de Recaudación y Control Aduanero (ARCA, for its acronym in Spanish), as established by Decree No. 953/2024 of the National Executive Branch, its annual income tax return considering the total effect of the inflation adjustment on income tax (see section a) iv) of this note). As a result, the current income tax determined by Banco Macro SA for fiscal year 2019 amounted to 7,002,124 (not restated). The same criterion was applied to determine the annual income tax report for 2020, which generated accrued income tax for Banco Macro SA for such fiscal year that amounted to 9,933,210 (not restated).

In addition, on July 23, 2021, the Bank filed a reimbursement action with the former AFIP requesting the refund of 254,305 (not restated) paid as income tax for the 2020 tax period.

Regarding to the tax periods mentioned in previous paragraphs, on November 1, 2021, the former AFIP notified the beginning of an income tax audit, which is in progress.

Along with the filings mentioned in the first paragraph of this section, on December 28, 2021, the Bank filed petitions for declaratory judgment with the Federal Administrative Contentious Court for the periods under analysis. The file 22274/2021, for the fiscal year 2019, is in process in Court No. 12 and the file 22278/2021, for the fiscal year 2020, is in process in Court No. 1.

Regarding to the tax period 2019, on April 22, 2025, the Bank requested to close the evidence stage, and on April 25, 2025, the Court closed the evidence stage and ordered to proceed for final arguments. On June 4, 2025, the Bank presented its final arguments.

Fiscal year 2021

On October 17, 2022, Banco Macro SA filed a reimbursement action with the former AFIP requesting the refund of 382,189 (not restated) paid as income tax for the 2021 tax period.

Regarding to the tax period abovementioned, on January 3, 2023, the former AFIP notified the beginning of an income tax audit. On April 8, 2024 the former AFIP notified the closure of the audit, without tax adjustment.

Additionally, on February 7, 2025, Banco Macro SA filed a contentious request against Resolution 9/2024. This request is being processed under file No. 855/2025 with the Federal Contentious and Administrative Trial Court No. 5.

Fiscal year 2022

On June 30, 2023, Banco Macro SA filed a reimbursement action with the former AFIP requesting the refund of 654,673 (not restated) paid as income tax for the 2022 tax period.

40 

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 

AS OF JUNE 30, 2025 

(Translation of Financial Statements originally issued in Spanish – See Note 44) 

(Figures stated in thousands of pesos in constant currency)

Regarding to the tax period abovementioned,  on 16 November, 2023, the former AFIP notified the beginning of an income tax audit. On August 6, 2024 the former AFIP notified the closure of the audit, without tax adjustment.

Fiscal year 2023

On June 28, 2024, Banco Macro SA filed a reimbursement action with the former AFIP requesting the refund of 1,814,076 (not restated) paid as income tax for the 2023 tax period.

Regarding to the tax period abovementioned, on April 30, 2025, the former AFIP notified the beginning of an income tax audit.

Reimbursement actions – Fiscal years 2013 to 2017 and 2018

On October 24, 2019, Banco Macro SA filed with the former AFIP two reimbursement actions under the terms established by the first paragraph of section 81, Law No. 11683 requesting the reimbursement of 4,782,766 and 5,015,451 (not restated amounts) paid to tax authorities as income tax during 2013 through 2017 and 2018 tax periods, respectively, arising from the impossibility to apply the inflation adjustment and other adjustment mechanisms set forth by income tax Law (prior to the amendments introduced by Laws No. 27430 and 27468 for 2013 through 2017 tax periods, and as revised in 2019 and amended for the 2018 tax period), plus the related compensatory interest (SIGEA [case and file management system] files No. 19144-14224/2019 and 19144-14222/2019). In the absence of a resolution by the tax authorities with respect to the abovementioned claims, on August 7, 2020, the Bank filed both reimbursement requests under the terms of the second paragraph of the abovementioned section 81, Law No. 11683 with the Federal Contentious and Administrative Trial Courts, which are pending in Courts No. 8 and 2 of such jurisdiction, respectively (cases No. 11285/2020 and 11296/2020).

Regarding to the tax periods mentioned in the previous paragraph, on December 19, 2019, the former AFIP notified the beginning of the income tax audit for the 2018 tax period, and on May 3, 2021, it notified the beginning of the income tax audit for periods 2013 to 2017, both inclusive. On October 4, 2021, the former AFIP ended the audit for periods 2013 through 2017 as the Bank had exercised in due time its right to resort to justice, and the admission of reimbursement is subject to a court decision.

Regarding to the case for tax period 2018, on March 19, 2025, Court No. 2 resolved to admit the reimbursement claim in favor of the Bank. The former AFIP filed an appeal and on June 3, 2025, the case was transferred to the Prosecutor's Office.

Regarding to the periods 2013 to 2017, on October 8, 2024, the Federal Contentious and Administrative Trial Court No. 8 issued a favorable sentence to the Bank's request, in which it admitted the recovery action for the amount of 4,782,766 plus compensatory interest. The aforementioned court considered that the lack of application of the tax inflation adjustment generated the taxation of a confiscatory income tax in the periods 2013/2017.

On October 16, 2024, the former AFIP appealed the sentence.

On May 27, 2025, Courtroom II of the Federal Contentious and Administrative National Court of Appeals confirmed the first-instance sentence and admitted the reimbursement requested by the Bank for fiscal years 2013 to 2017. In connection with such claim, the former AFIP filed an extraordinary appeal, which was rejected by the Court on June 27, 2025.

On July 4, 2025, the national tax authorities filed a complaint appeal with the Federal Supreme Court of Justice. As of the date of issue of these condensed consolidated interim Financial Statements, the proceedings are in progress in the Court to resolve the complaint.

Reimbursement actions - Banco BMA SAU

Fiscal year 2016 - Banco BMA SAU

On September 19, 2017 Banco BMA SAU filed with the former AFIP a reimbursement action under the terms established by the first paragraph of section 81, Law No. 11683 requesting the reimbursement of 315,987 (not restated) paid to tax authorities as income tax during 2017 tax period, arising from the impossibility to apply the inflation adjustment and other adjustment mechanisms set forth by income tax Law (prior to the amendments introduced by Laws No. 27430 and 27468, plus the related compensatory interest). In the absence of a resolution by the tax authorities with respect to the abovementioned claim, Banco BMA SAU filed an appeal for delay with the Federal Administrative Tax Court. Against the original favorable sentence (from 2019), the former AFIP filed an extraordinary federal appeal. The appeal was denied by the Court, which caused the complaint being filed with the Court. On November 7, 2023, that complaint was rejected, leaving the favorable sentence of 2019 firm and confirmed in all its parts. An asset was recognized for the capital plus interest.

41 

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 

AS OF JUNE 30, 2025 

(Translation of Financial Statements originally issued in Spanish – See Note 44) 

(Figures stated in thousands of pesos in constant currency)

On February 15, 2024, a note was submitted to the former AFIP requesting that the favorable sentence be considered fulfilled and the balance in favor of the principal plus interest be credited.

On March 18, 2024, the former AFIP proceeded to recognize the balance in favor of the claimed capital (315,987, not restated) in the Tax Accounts System. For the interest owed by the tax authorities, an immediate release was submitted on April 17, 2024 for the amount of the updated interest (816,473, not restated).

Fiscal year 2017 - Banco BMA SAU

On December 17, 2018 Banco BMA SAU filed with the former AFIP a reimbursement action under the terms established by the first paragraph of section 81, Law No. 11683 requesting the reimbursement of 251,756 (not restated) paid to tax authorities as income tax during 2017 tax period, arising from the impossibility to apply the inflation adjustment and other adjustment mechanisms set forth by income tax Law (prior to the amendments introduced by Laws No. 27430 and 27468, plus the related compensatory interest). In the absence of a resolution, on April 29, 2019, an appeal for delay was filed with the Federal Administrative Tax Court, which processes the case in a paper file (as opposed to 2018, which is digital).

The tax authorities opportunely responded to the appeal, objecting to the evidence. On August 13, 2019, Banco BMA SAU responded to the notification of opposition to the evidence.

Since March 2020, the processing of paper files has been suspended due to the pandemic. In April 2021, the judicial recess was requested to be authorized because it was an exceptional case, which was rejected. Currently, it has been accumulated with the reimbursement request for the fiscal years 2019-2020, which are in evidence stage.

Fiscal year 2018 - Banco BMA SAU

On May 28, 2019 Banco BMA SAU filed with the former AFIP a reimbursement action under the terms established by the first paragraph of section 81, Law No. 11683 requesting the reimbursement of 558,439 (not restated) paid to tax authorities as income tax during 2018 tax period, arising from the impossibility to apply the inflation adjustment and other adjustment mechanisms set forth by income tax Law, plus the related compensatory interest (SIGEA [case and file management system] file 19144-3641/2019). In the absence of a resolution by the tax authorities with respect to the abovementioned claim, on November 22, 2019 Banco BMA SAU filed an appeal for delay with the Federal Administrative Tax Court (EX-2019-104149820 -APN-DTD #JGN).

On April 18, 2023, Banco BMA SAU was notified of the final sentence, which approved the appeal for delay in resolving the reimbursement claim, ordering the former AFIP to return the sum of 558,439 (not restated) plus the applicable interest according to the BCRA's passive rate. The tax authorities subsequently appealed the sentence on the merits and the interest applied.

On May 15, 2025, the Court issued a sentence and rejected the extraordinary appeal filed by the national tax authorities. This milestone confirms the finality of the sentence that invoked the reimbursement claim for an amount of 558,439, to which must be added the accrued interest up to the payment date. Consequently, the Bank recorded a tax credit with a balance of 1,925,692 as of June 30, 2025.

Fiscal years 2019 and 2020 - Banco BMA SAU

On December 29, 2022 Banco BMA SAU filed with the former AFIP a reimbursement action under the terms established by the first paragraph of section 81, Law No. 11683 requesting the reimbursement of 639,325 (not restated) and 965,670 (not restated) paid to tax authorities as income tax during 2019 and 2020 tax periods, respectively, as a result of settling the tax by partially incorporating the inflation adjustment set forth by the Section VI of the income tax Law (according to Decree 824/2019), one sixth (1/6) in accordance with section 194 incorporated by Law 27541 and computing the updated amortizations only for the fix assets and intangibles acquired since January 1, 2018, plus the related compensatory interest. In the absence of a resolution by the tax authorities with respect to the abovementioned claim, on June 5, 2023 Banco BMA SAU filed an appeal for delay with the Federal Administrative Tax Court (EX-2023- 63876605- -APN-SGAI#TFN – in process in Courtroom “B”, Office 6). On September 15, 2023, the tax authorities responded to the appeal for delay and ordered the accumulation of the file with that of 2017 (File No. 49836-I).

Regarding to the tax periods mentioned in the previous paragraph, on May 19, 2023, the former AFIP notified the beginning of an income tax audit, which is in progress.

42 

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 

AS OF JUNE 30, 2025 

(Translation of Financial Statements originally issued in Spanish – See Note 44) 

(Figures stated in thousands of pesos in constant currency)

22. COMMISSIONS INCOME

		06/30/2025								06/30/2024
Composition		Quarter ended 06/30/2025				Accumulated from beginning of year up to 06/30/2025				Quarter ended 06/30/2024				Accumulated from beginning of year up to 06/30/2024
Performance obligations satisfied at a point in time
Commissions related to obligations			99,912,139				197,322,209				83,874,350				155,497,411
Commissions related to credit cards			77,970,915				129,789,165				47,662,002				93,018,567
Commissions related to insurance			12,799,689				25,780,843				7,880,577				13,880,337
Commissions related to trading and foreign exchange transactions			5,985,226				11,175,043				4,682,351				9,134,361
Commissions related to securities value			5,422,158				13,177,694				5,480,275				10,333,679
Commissions related to loans			4,490,771				7,789,367				5,260,915				6,939,137
Commissions related to financial guarantees granted			314,506				488,731				1,835,636				4,026,630
Performance obligations satisfied over certain time period
Commissions related to credit cards			810,560				1,678,269				625,385				1,289,614
Commissions related to trading and foreign exchange transactions			472,957				939,873				561,461				2,909,152
Commissions related to loans			28,947				59,700				37,049				42,770
Commissions related to obligations			4,605				4,940				337				218
Total			208,212,473				388,205,834				157,900,338				297,071,876

23. DIFFERENCES IN QUOTED PRICES OF GOLD AND FOREIGN CURRENCY

		06/30/2025								06/30/2024
Composition		Quarter ended 06/30/2025				Accumulated from beginning of year up to 06/30/2025				Quarter ended 06/30/2024				Accumulated from beginning of year up to 06/30/2024
Income from foreign currency exchange			12,744,662				13,024,324				154,580				486,689
Translation of foreign currency assets and liabilities into pesos			9,660,353				16,187,208				35,329,716				167,633,774
Total			22,405,015				29,211,532				35,484,296				168,120,463

43 

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 

AS OF JUNE 30, 2025 

(Translation of Financial Statements originally issued in Spanish – See Note 44) 

(Figures stated in thousands of pesos in constant currency)

24. OTHER OPERATING INCOME

		06/30/2025								06/30/2024
Composition		Quarter ended 06/30/2025				Accumulated from beginning of year up to 06/30/2025				Quarter ended 06/30/2024				Accumulated from beginning of year up to 06/30/2024
Services			30,188,550				80,788,093				34,732,117				66,605,141
Adjustments and interest from other receivables			5,706,208				13,328,284				4,471,474				16,775,669
Other receivables from financial intermediation			1,053,898				1,863,617				1,634,190				5,263,238
Adjustments from other receivables with CER clauses			839,485				1,856,289				6,257,395				17,625,868
Other			8,030,232				20,588,511				13,037,589				27,903,432
Total			45,818,373				118,424,794				60,132,765				134,173,348

25. EMPLOYEE BENEFITS

		06/30/2025								06/30/2024
Composition		Quarter ended 06/30/2025				Accumulated from beginning of year up to 06/30/2025				Quarter ended 06/30/2024				Accumulated from beginning of year up to 06/30/2024
Remunerations		127,203,489				246,192,112				130,116,424				281,205,965
Payroll taxes			29,351,341				60,419,670				32,500,062				68,723,792
Compensations and bonuses to employees			16,102,190				38,800,522				22,098,131				49,902,165
Employee services			7,745,043				15,581,202				5,503,332				10,889,836
Total			180,402,063				360,993,506				190,217,949				410,721,758

26. ADMINISTRATIVE EXPENSES

		06/30/2025								06/30/2024
Composition		Quarter ended 06/30/2025				Accumulated from beginning of year up to 06/30/2025				Quarter ended 06/30/2024				Accumulated from beginning of year up to 06/30/2024
Taxes		14,526,445				30,098,150				26,049,998				45,535,981
Maintenance, conservation and repair expenses			13,557,443				26,061,125				15,612,343				31,602,892
Other fees			10,532,596				20,886,486				10,782,933				20,148,637
Security services			10,165,345				20,272,207				8,395,977				15,029,252
Armored truck, documentation and events			8,802,477				18,866,117				9,763,193				18,335,918
Software			8,087,655				16,716,768				4,366,244				8,849,731
Electricity and communications			7,829,045				16,005,818				8,921,180				17,362,200
Advertising and publicity			7,802,175				12,611,730				5,908,880				10,509,269
Fees to directors and syndics			6,711,226				9,192,045				(12,438,308	)			7,456,275
Hired administrative services			3,399,276				4,963,402				11,716,575				16,464,079
Representation, travel and transportation			2,032,911				3,747,456				1,836,970				3,085,607
Insurance			1,358,205				2,572,769				1,269,361				1,826,253
Stationery and office supplies			351,956				741,045				601,898				1,199,923
Leases			184,456				677,909				315,832				1,031,708
Other			3,978,086				7,713,932				(984,419	)			7,592,338
Total			99,319,297				191,126,959				92,118,657				206,030,063

44 

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 

AS OF JUNE 30, 2025 

(Translation of Financial Statements originally issued in Spanish – See Note 44) 

(Figures stated in thousands of pesos in constant currency)

27. OTHER OPERATING EXPENSES

		06/30/2025								06/30/2024
Composition		Quarter ended 06/30/2025				Accumulated from beginning of year up to 06/30/2025				Quarter ended 06/30/2024				Accumulated from beginning of year up to 06/30/2024
Turnover tax			113,887,387				213,612,962				85,947,650				239,350,880
From credit cards			40,293,491				77,791,187				46,693,931				90,747,081
Deposit guarantee fund contributions			3,970,759				8,233,656				3,274,120				6,063,007
Charges for other provisions			3,061,407				5,734,917				4,463,314				10,613,425
Insurance claims			2,656,699				5,151,165				2,216,079				4,081,089
Other adjustments and interests for miscellaneous obligations			1,198,335				2,641,927				21,389,060				24,224,591
Donations			909,356				1,720,643				752,856				1,628,770
Loss from sale or impairment of property, plant and equipment			141,254				221,763				(11,210	)			20,969
Loss from sale or impairment of investment properties and other non-financial assets			119,457				119,457
Taxes			46,202				119,278				35,097				89,247
Other			22,211,420				41,890,626				19,014,282				38,422,801
Total			188,495,767				357,237,581				183,775,179				415,241,860

28. ADDITIONAL DISCLOSURES IN THE STATEMENT OF CASH FLOWS

The Statement of Cash Flows presents the changes in cash and cash equivalents derived from operating activities, investing activities and financing activities during the period. For the preparation of the Statement of Cash Flows the Bank adopted the indirect method for Operating Activities and the direct method for Investment Activities and Financing Activities.

The Bank considers as “Cash and cash equivalents” the item Cash and deposits in banks and those financial assets that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

For the preparation of the Statement of Cash Flows the Bank considered the following:

- Operating activities: the normal revenue-producing activities of the Bank as well as other activities that cannot qualify as investing or financing activities.

- Investing activities: the acquisition, sale and disposal by other means of long-term assets and other investments not included in cash and cash equivalents.

- Financing activities: activities that result in changes in the size and composition of the shareholders’ equity and liabilities of the Bank and that are not part of the operating or investing activities.

The table below presents the reconciliation between the item “Cash and cash equivalents” in the Statement of Cash Flows and the relevant accounting items of the Statement of financial position:

Composition		06/30/2025				12/31/2024				06/30/2024				12/31/2023
Cash and deposits in banks			2,497,537,577				3,096,842,960				2,277,332,069				3,015,454,158
Debt securities at fair value through profit or loss			14,934,746				116,475,603								335,241,780
Other debt securities			88,309,340				76,565,231				59,618,920				109,217,635
Loans and other financing			5,970,417				5,941,880				6,355,815				10,131,884
Total			2,606,752,080				3,295,825,674				2,343,306,804				3,470,045,457

45 

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 

AS OF JUNE 30, 2025 

(Translation of Financial Statements originally issued in Spanish – See Note 44) 

(Figures stated in thousands of pesos in constant currency)

29. CAPITAL STOCK

The Bank’s subscribed and paid-in capital from December 31, 2021 to June 30, 2025, amounted to 639,413. The capital stock composition is detailed in Exhibit K to the condensed separate interim Financial Statements.

30. EARNINGS PER SHARE - DIVIDENDS

Basic earnings per share were calculated by dividing net profit attributable to common shareholders of the Bank by the weighted average number of common shares outstanding during the period.

In calculating the weighted average of outstanding common shares, the number of shares at the beginning of the fiscal year is adjusted, if applicable, by the number of common shares issued or withdrawn during the period, weighted by the number of days those shares have been outstanding. Note 29 provides a breakdown of the changes in the Bank's capital stock.

The calculation of basic earnings per share is provided in the “Earnings per share” table of the condensed consolidated interim income Statement. See also Note 40.

Dividends paid and proposed

Through Communiqué “A” 7984 issued on March 21, 2024 the BCRA established that up to December 31, 2024, financial institutions which had the BCRA’s authorization could distribute up to 60% of the amount of earnings that should have been distributed if the “Earnings distributions” rules had been applied, in 6 equal, monthly and consecutive installments. The amount of each dividend installment will be paid in constant currency on each payment date.

The Shareholders’ Meeting held on April 12, 2024, approved to distribute cash dividends and/or dividends in kind, in this case measured at market value, for an amount of 401,735,819 (not restated), representing 628.29 pesos per share, subject to prior BCRA authorization. On May 6, 2024, the BCRA authorized this earnings distribution.

On the other hand, according to Communiqué “A” 7997 issued on April 30, 2024, the BCRA established that financial institutions which had the BCRA’s authorization could distribute earnings in 3 equal, monthly and consecutive installments. Additionally, financial institutions must grant the option to each non-resident shareholder to receive their dividends –totally or partially– in a single cash installment as long as those funds are applied directly to the primary subscription of Bonds for the Reconstruction of a Free Argentina (BOPREAL, for its acronym in Spanish) in accordance with current exchange regulations. Installments 1, 2 and 3 have been paid on May 22, 2024, June 26, 2024 and July 22, 2024, respectively, for an amount of 161,784,356, 168,541,001 and 176,255,234 (amounts stated in constant currency as of each payment date), respectively.

On April 4, 2025, the Shareholders' Meeting approved to distribute cash dividends and/or in kind, in this case measured at market value, for an amount of 300,000,000 (amount expressed in constant currency as of December 31, 2024), representing 469.18 pesos per share, subject to prior BCRA authorization. On June 4, 2025, the BCRA authorized this earnings distribution.

On the other hand, according to Communiqué “A” 8214 issued on March 13, 2025, the BCRA established that financial institutions which had the BCRA’s authorization could distribute earnings in 10 equal, monthly and consecutive installments. As of June 30, 2025, installment 1 has been paid for an amount of 33,978,991 (amount stated in constant currency as of the payment date). As of the date of issue of these condensed consolidated interim Financial Statements, installment 2 has been paid for an amount of 34,529,086 (amount stated in constant currency as of the payment date).

31. DEPOSIT GUARANTEE INSURANCE

Law No. 24485 and Decree No. 540/1995 created the Deposit Guarantee Insurance System, which was featured as a limited, compulsory and onerous system, aimed at covering the risks of bank deposits, as subsidiary and supplementary to the deposit privilege and protection system established under the Financial Entities Law. The abovementioned legislation also provided for the incorporation of Sedesa with the exclusive purpose of managing the Deposit Guarantee Fund (DGF). Sedesa was incorporated in August 1995.

Banco Macro SA holds a 9.6905% interest in the capital stock according to the percentages disclosed by BCRA Communiqué “B” 12955 issued on March 14, 2025.

46 

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 

AS OF JUNE 30, 2025 

(Translation of Financial Statements originally issued in Spanish – See Note 44) 

(Figures stated in thousands of pesos in constant currency)

According to Communiqué “A” 7985 of the BCRA issued on March 27, 2024, deposits in pesos and foreign currency placed in participating entities in the form of checking accounts, savings accounts, certificates of deposits or other forms of deposit that the BCRA may determine, and which meet the requirements provided for in Presidential Decree No. 540/1995 and other requirements that the regulatory authority may determine from time to time, will be covered up to the amount of 25,000.

On the other hand, the BCRA provided from the exclusion of the guarantee system, among others, of any deposits made by other financial entities, deposits made by persons related to the Bank and securities deposits.

32. RESTRICTED ASSETS

As of June 30, 2025 and December 31, 2024, the following Bank’s assets are restricted:

Composition			06/30/2025				12/31/2024
Cash and deposits in banks
·	Fondo de Riesgo Fintech SGR and Alianza SGR – Deposits in other entities (1).			371				4,512
Subtotal cash and deposits in Banks				371				4,512
Debt securities at fair value through profit or loss and Other debt securities
·	Fondo de Riesgo Fintech SGR and Alianza SGR – Debt securities at fair value through profit or loss (1).			52,645,907				45,800,979
·	Discount Bonds in pesos regulated by Argentine Law, maturity 2033, to guarantee the Credit Program for Production Reactivation of the Province of San Juan.			1,122,044				2,320,302
·	Discount Bonds in pesos regulated by Argentine Law, maturity 2033 for the minimum statutory guarantee account required for Agents to act in the new categories contemplated under CNV Resolution No. 622/2013, as amended.			1,108,915				1,249,150
·	Argentine Treasury Bonds at a discount in pesos adjusted by CER, maturity 12/15/2026 and Argentine Treasury Bills capitalizable in pesos, maturity 05/30/2025, as of June 30, 2025, and Argentine Treasury Bonds in pesos adjusted by CER 4.25%, maturity 02/14/2025, as of December 31, 2024, for the contribution to the Guarantee Fund II in BYMA according to section 45, Law 26831 and supplementary regulations established by CNV Rules (NT 2013, as amended).			29,109				23,362
·	Argentine Treasury Bonds in pesos adjusted by CER 2%, maturity 11/09/2026, to guarantee the Credit Program for Production Reactivation of the Province of San Juan.							427,692
·	Other.			1,811,065				1,649,911
Subtotal Debt securities at fair value through profit or loss and Other debt securities				56,717,040				51,471,396
Other financial assets
·	Interests derived from contributions made as protector partner (2).			30,658,954				31,292,835
·	Fondo de Riesgo Fintech SGR and Alianza SGR – Mutual fund shares (1).			4,132,187				4,714,942
·	Financial instruments for minimum statutory guarantee account required for Agents to act in the new categories contemplated under CNV Resolution No. 622/2013, as amended.			1,453,036				1,364,232
·	Sundry debtors – other.			890,117				1,052,652
·	Sundry debtors – attachment within the scope of the claim filed by the DGR of the CABA for turnover tax differences.			827				952
Subtotal Other financial assets				37,135,121				38,425,613
Loans and other financing
·	Fondo de Riesgo Fintech SGR and Alianza SGR – Loans and other financing (1).			5,180,907				1,408,565
Subtotal Loans and other financing				5,180,907				1,408,565

47 

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 

AS OF JUNE 30, 2025 

(Translation of Financial Statements originally issued in Spanish – See Note 44) 

(Figures stated in thousands of pesos in constant currency)

Composition (contd.)			06/30/2025				12/31/2024
Financial assets delivered as a guarantee
·	Special guarantee checking accounts opened in the BCRA for transactions related to the electronic clearing houses and similar entities.			160,294,716				159,519,730
·	Guarantee deposits related to credit and debit card transactions.			80,481,636				78,627,754
·	For securities forward contracts.							26,508,729
·	Other guarantee deposits.			41,926,511				19,749,056
Subtotal Financial assets delivered as guarantee				282,702,863				284,405,269
Other non-financial assets
·	Fondo de Riesgo Fintech SGR and Alianza SGR – Other non-financial assets (1).			38,008				25,241
Subtotal Other non-financial assets				38,008				25,241
Total				381,774,310				375,740,596

(1) According to Law 24467, as amended, and Fintech SGR by-laws and Alianza SGR by-laws, these entities have a risk fund (“Fondo de Riesgo”) which its main objective is to cover the guarantees granted to the protector partners and third parties. The assets of the risk fund could only be applied to partners’ withdrawals, to cover guarantees and other direct expenses.

(2) As of June 30, 2025 and December 31, 2024 it is related to the risk fund Fintech SGR, Alianza SGR and Innova SGR. In order to keep tax benefits related to these contributions, they must be maintained between two and three years from the date they were made.

33. TRUST ACTIVITIES

The Bank is related to several types of trusts. The different trust agreements according to the business purpose sought by the Bank are disclosed below:

33.1 Financial trusts for investment purposes

They are mainly composed of prepayments towards the placement price of provisional trust securities of financial trusts under public and private offering (Confibono and Secubono). The assets managed by these trusts are mainly related to securitizations of consumer loans. Trust securities are placed once the public offering is authorized by the CNV. Upon expiry of the placement period, once the trust securities have been placed on the market, the Bank recovers the disbursements made plus an agreed-upon compensation. If after making the best efforts such trust securities cannot be placed, the Bank will retain the definitive trust securities for itself.

Additionally, the portfolio of financial trusts for investment purposes is completed with definitive trust securities of financial trusts in public and private offering (Payway Cobro Acelerado, Secubono, Red Surcos and Megabono Crédito) and certificates of participation (Arfintech).

As of June 30, 2025 and December 31, 2024, debt securities and certificates of participation in financial trusts for investment purposes, amounted to 7,788,295 and 5,748,080, respectively.

According to the latest accounting information available as of the date of issuance of these condensed consolidated interim Financial Statements, the corpus assets of the trusts exceed the carrying amount in the related proportions.

33.2 Trusts created using financial assets transferred by the Bank

The Bank transferred financial assets (loans) to trusts for the purpose of issuing and selling securities whose collection is guaranteed by the cash flow resulting from such assets or group of assets. Through this way the funds that were originally used by the Bank to finance the loans are obtained earlier.

48 

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 

AS OF JUNE 30, 2025 

(Translation of Financial Statements originally issued in Spanish – See Note 44) 

(Figures stated in thousands of pesos in constant currency)

As of June 30, 2025 and December 31, 2024, considering the latest available accounting information as of the date of issuance of these condensed consolidated interim Financial Statements, the assets managed through Macro Fiducia SAU (subsidiary) of this type of trusts amounted to 4,017 and 6,008, respectively.

33.3 Trusts guaranteeing loans granted by the Bank

As it is common in the Argentine banking market, the Bank requires, in some cases, that the debtors present certain assets or entitlements to receive assets in a trust as a guarantee for the loans granted. This way, the risk of losses is minimized and access to the security is guaranteed in case of the debtor's non-compliance.

Trusts usually act as conduits to collect cash from the debtor’s flow of operations and send such cash to the Bank for the payment of the debtor’s loans and thus ensure compliance with the obligations assumed by the trustor and guaranteed through the trust.

Additionally, other guarantee trusts manage specific assets, mainly real property.

Provided there is no non-compliance or delays by the debtor in the obligations assumed with the beneficiary, the trustee shall not execute the guarantee and all excess amounts as to the value of the obligations are reimbursed by the trustee to the debtor.

As of June 30, 2025 and December 31, 2024, considering the latest available accounting information as of the date of issuance of these condensed consolidated interim Financial Statements, the assets managed by Banco Macro SA and Macro Fiducia SAU, amounted to 4,825,319 and 5,446,919, respectively.

33.4 Trusts in which the Bank acts as Trustee (Management)

The Bank, through its subsidiaries, performs management duties of the corpus assets directly according to the agreements, performing only trustee duties and has no other interests in the trust.

In no case shall the trustee be liable with its own assets or for any obligation deriving from the performance as trustee. Such obligations do not imply any type of indebtedness or commitment for the trustee and they will be fulfilled only through trust assets. In addition, the trustee will not encumber the corpus assets or dispose of them beyond the limits established in the related trust agreements. The fees earned by the Bank from its role as trustee are calculated according to the terms and conditions of the agreements.

Trusts usually manage funds derived from the activities performed by trustors, for the following main purposes:

- guaranteeing, in favor of the beneficiary the existence of the resources required to finance and/or pay certain obligations, such as the payment of amortization installments regarding work or service certificates, and the payment of invoices and fees stipulated in the related agreements,

- promoting the production development of the private economic sector at a provincial level,

- being a party to public work concession agreements granting road exploitation, management, keeping and maintenance.

As of June 30, 2025 and December 31, 2024, considering the latest available accounting information as of the date of issuance of these condensed consolidated interim Financial Statements, the assets managed by the Bank amounted to 215,972,868 and 109,316,103, respectively.

34. COMPLIANCE WITH CNV REGULATIONS

34.1 Compliance with CNV regulations to act in the different agent categories defined by the CNV:

34.1.1 Operations of Banco Macro SA

Considering Banco Macro SA’s current operations, and according to the different categories of agents established by CNV rules (as per General Resolution No. 622/2013, as amended), the Bank is registered with this agency as Agent for the Custody of Collective Investment Products of Mutual Funds (AC PIC FCI, for its acronym in Spanish) – Depositary Company, Clearing and Settlement Agent and Trading Agent – comprehensive (ALyC y AN – Integral, for its acronym in Spanish) and is registered in the “List of authorized companies to guarantee capital market instruments”.

49 

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 

AS OF JUNE 30, 2025 

(Translation of Financial Statements originally issued in Spanish – See Note 44) 

(Figures stated in thousands of pesos in constant currency)

Additionally, the Bank’s shareholders’ equity as of June 30, 2025 stated in Units of Purchasing Power (UVAs, for its acronym in Spanish) amounted to 2,975,146,031 and exceeds the minimum amount required by such regulation for the different categories of agents in which the Bank is registered, amounting to 470,350 UVAs as of that date, and the minimum required statutory guarantee account of 235,175 UVAs, which the Bank paid-in with government securities as described in Note 32 and the cash deposits in BCRA accounts 000285 and 80285 belonging to the Bank.

34.1.2 Operations of Macro Securities SAU

Considering the current operations of this subsidiary, and according to the provisions established by CNV effective as of the approval of General Resolution No. 622/2013, as amended, issued by such agency, such company is registered under the following categories: ALyC y AN – Integral, Mutual Investment Funds Placement and Distribution Agent (ACyD FCI, for its acronym in Spanish) and Comprehensive Mutual Investment Funds Placement and Distribution Agent (ACyDI FCI, for its acronym in Spanish).

Additionally, the shareholders’ equity of such company as of June 30, 2025 stated in UVAs amounted to 82,470,970 and exceeds the minimum amount required by such regulation, amounting to 470,350 UVAs and the minimum statutory guarantee account required a minimum of 50% of the minimum amount of shareholders’ equity, which the company paid-in with mutual fund shares. Moreover, as result of the company acting as ACyD FCI and ACyDI FCI an amount of 163,500 UVAs will be added to minimum shareholder’s equity.

34.1.3 Operations of Macro Fondos Sociedad Gerente de Fondos Comunes de Inversión SA

Considering the current operations of this subsidiary, and according to the provisions established by CNV effective as of the approval of General Resolution No. 622/2013, as amended, issued by such agency, such company is registered as Agent for the Administration of Collective Investment Products of Mutual Funds (AA PIC FCI, for its acronym in Spanish).

Additionally, the shareholders’ equity of this company as of June 30, 2025 stated in UVAs amounted to 17,070,455 and exceeds the minimum amount required by such regulation, amounting to 150,000 UVAs plus 20,000 UVAs per each additional mutual fund it manages. The minimum statutory guarantee account required a minimum of 50% of the minimum amount of shareholders’ equity, which the company paid-in with mutual fund shares.

34.1.4 Operations of Macro Fiducia SAU

Considering the current operations of this subsidiary and according to the provisions established by CNV effective as of the approval of General Resolution No. 622/2013, as amended, issued by such agency, such company is registered as Financial Trustee Agent and Non-Financial Trustee Agent.

Additionally, the shareholders’ equity of such company as of June 30, 2025 stated in UVAs amounted to 1,037,044 and exceeds the minimum amount required by such regulation established in 950,000 UVAs. The minimum statutory guarantee account required a minimum of 50% of the minimum amount of shareholders’ equity, which the company paid-in with mutual fund shares.

34.1.5 Operations of Macro Agro SAU (formerly known as Comercio Interior SAU)

Considering the current operations of this subsidiary and according to the provisions established by CNV effective as of the approval of General Resolution No. 622/2013, as amended, issued by such agency, this company is registered as Clearing and Settlement Agent – Agroindustrial (ALyC I AGRO, for its acronym in Spanish).

Additionally, the shareholders’ equity of such company as of June 30, 2025 stated in UVAs amounted to 1,600,434 and exceeds the minimum amount required by such General Resolution established in 1,175,000 UVAs. The minimum statutory guarantee account required a minimum of 40% of the minimum amount of shareholders’ equity and it is integrated with stock holding balances.

34.1.6 Operations of BMA Asset Management SGFCISA (formerly known as Itaú Asset Management SA)

Considering the current operations of this subsidiary and according to the provisions established by CNV effective as of the approval of General Resolution No. 622/2013, as amended, this company is registered as AA PIC FCI.

50 

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 

AS OF JUNE 30, 2025 

(Translation of Financial Statements originally issued in Spanish – See Note 44) 

(Figures stated in thousands of pesos in constant currency)

Additionally, the shareholders’ equity of such company as of June 30, 2025 stated in UVAs amounted to 1,853,506 and exceeds the minimum amount required by such General Resolution established in 150,000 UVAs plus 20,000 UVAs per each additional mutual fund it manages. The minimum statutory guarantee account required a minimum of 50% of the minimum amount of shareholders’ equity, which the company paid-in with mutual fund shares.

34.1.7 Operations of BMA Valores SA (formerly known as Itaú Valores SA)

Considering the current operations of this subsidiary and according to the provisions established by CNV effective as of the approval of General Resolution No. 622/2013, as amended, this company is registered as Clearing and Settlement Agent and Comprehensive Mutual Investment Funds Placement and Distribution Agent (ALyC, AN - Integral and ACyDI FCI, for their acronyms in Spanish).

Additionally, the shareholders’ equity of such company as of June 30, 2025 stated in UVAs amounted to 4,278,930 and exceeds the minimum amount required by such General Resolution established in 470,350 UVAs and the minimum statutory guarantee account required a minimum of 50% of the minimum amount of shareholders’ equity, which the company paid-in with mutual fund shares. Moreover, as result of the company acting as ACyDI FCI an amount of 163,500 UVAs will be added to minimum shareholder’s equity.

34.2 Documents in custody

As a general policy, the Bank delivers for custody to third parties the documentary support of its aged accounting and management operations, i.e. those whose date is prior to the last fiscal year-end. In compliance with CNV General Resolution No. 629 requirements, the Bank has placed (i) the Inventory Books for fiscal years ended up to and including December 31, 2017, and (ii) certain documentation supporting the economic transactions for fiscal years ended up to and including December 31, 2017, under the custody of the following companies: AdeA Administradora de Archivos SA (warehouse located at Ruta 36, km 31.5, Florencio Varela, Province of Buenos Aires) and ADDOC Administración de Documentos SA (warehouse located at Avenida Circunvalación Agustín Tosco with no number, Colectora Sur, between Puente San Carlos and Puente 60 blocks, Province of Córdoba and Avenida Luis Lagomarsino 1750, formerly Ruta 8 Km 51,200, Pilar, Province of Buenos Aires).

In addition, the documentary support in digital format is stored in CD rom, DVD rom and the Bank’s own servers.

34.3 As depositary of mutual funds

As of June 30, 2025 Banco Macro SA, in its capacity as depositary company, holds in custody the shares in mutual funds subscribed by third parties and assets from the following mutual funds:

Funds		Number of shares				Equity
Argenfunds Abierto Pymes			2,730,854,349				51,548,326
Argenfunds Abierto Pymes II			8,558,787,378				11,744,052
Argenfunds Ahorro Pesos			60,066,954				6,987,725
Argenfunds Financiamiento Pesos			100,000				98
Argenfunds Gestión Pesos			5,388,471,843				9,459,168
Argenfunds Infraestructura			4,573,244,689				5,560,802
Argenfunds Inversión Dólares			80,226				97,025
Argenfunds Inversión Pesos			26,215,271,747				26,488,499
Argenfunds Liquidez			16,014,764,351				148,643,376
Argenfunds Liquidez Dólares			709,384				851,073
Argenfunds Renta Argentina			379,891,885				48,616,850
Argenfunds Renta Balanceada			74,987,665				5,489,093
Argenfunds Renta Capital			3,982,119				5,195,991
Argenfunds Renta Crecimiento			898				1,043
Argenfunds Renta Dinámica			172,889,544,988				64,413,710
Argenfunds Renta Fija			6,849,241				683,257

51 

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 

AS OF JUNE 30, 2025 

(Translation of Financial Statements originally issued in Spanish – See Note 44) 

(Figures stated in thousands of pesos in constant currency)

Funds (contd.)		Number of shares				Equity
Argenfunds Renta Fija II			31,350,749,234				38,513,091
Argenfunds Renta Flexible			46,040,329				1,408,564
Argenfunds Renta Global			7,268,388				131,205
Argenfunds Renta Mixta			2,641,658,557				37,014,516
Argenfunds Renta Mixta Plus			1,030,285				1,206,932
Argenfunds Renta Pesos			27,462,993				3,437,853
Argenfunds Renta Total			568,371,479				3,952,580
Argenfunds Renta Variable			2,626,232,879				1,590,851
Argenfunds Retorno Absoluto			93,601,967				2,104,576
Pionero Acciones			34,518,372				39,634,275
Pionero Acciones Argentinas			27,473				7,072,865
Pionero Acciones Plus			9,175,638				1,918,049
Pionero Ahorro Dólares Plus			103,045,157				121,514,165
Pionero Ahorro Dólares			56,587,192				69,128,663
Pionero Ahorro Max			179,974,512				15,970,026
Pionero Argentina Bicentenario			411,654,410				18,756,420
Pionero Capital			5,116,407,193				22,147,566
Pionero Capital Plus			60,070,689				4,112,085
Pionero Crecimiento			2,418,461,631				20,278,167
Pionero Desarrollo			10,997,483,559				117,724,453
Pionero Dólar Dinámico			31,402,547				37,539,552
Pionero Empresas FCI Abierto Pymes			467,030,500				25,550,407
Pionero FF			168,518,552				30,210,725
Pionero Gestión			2,661,314,554				72,119,357
Pionero Fondo Común de Inversión Abierto para el Financiamiento de la Infraestructura y la Economía Real			704,429,333				3,236,558
Pionero Inversión Dólares			10,916,311				14,063,221
Pionero Moneda			6,144,516,447				6,792,211
Pionero Money Market Dólares			269,992,357				324,714,304
Pionero Multiestrategia Mix			100,000				166
Pionero Multiestrategia Plus			100,000				166
Pionero Patrimonio I			110,114,392,903				164,718,243
Pionero Performance			212				100
Pionero Performance II			50,038				2,115
Pionero Performance III			666				99
Pionero Pesos			5,460,569,255				422,249,576
Pionero Pesos Plus			45,722,257,102				2,069,383,498
Pionero Pesos Plus II			1,328,925,398				241,815,158
Pionero Premium			605,720,857				2,273,655
Pionero Recovery			3,802,075,206				7,142,840
Pionero Renta			18,553,633				21,536,478
Pionero Renta Ahorro			822,012,790				157,160,892
Pionero Renta Ahorro Plus			604,139,521				27,636,177
Pionero Renta Balanceado			6,626,182,377				64,882,684
Pionero Renta Crecimiento			11,987,197				17,640,205
Pionero Renta Dólar Estrategia			11,144,582				15,874,540

52 

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 

AS OF JUNE 30, 2025 

(Translation of Financial Statements originally issued in Spanish – See Note 44) 

(Figures stated in thousands of pesos in constant currency)

Funds (contd.)		Number of shares				Equity
Pionero Renta Dólares			17,948,779				24,667,926
Pionero Renta Dólares Plus			6,400,709				12,963,862
Pionero Renta Estratégico			504,615,001				26,977,844
Pionero Renta Fija Dólares			28,770,284				58,102,963
Pionero Renta Global			38,525,860				6,466,645
Pionero Renta Mixta I			370,787,807				22,358,884
Pionero Renta Pesos			59,998,686				7,487,568
Pionero Retorno			7,851,544,078				12,555,641
Pionero Retorno Total			117,572,620				9,407,252

35. ACCOUNTING ITEMS THAT IDENTIFY THE COMPLIANCE WITH MINIMUM CASH REQUIREMENTS

The items recognized by the Bank to constitute the minimum cash requirement effective for June 2025 are listed below, indicating the amounts as of month-end of the related items:

Items		06/30/2025
Cash and deposits in banks
Amounts in BCRA accounts			1,448,084,378
Other debt securities
Government securities computable for the minimum cash requirements			1,364,401,900
Financial assets delivered as guarantee
Special guarantee accounts with the BCRA			160,294,716
Total			2,972,780,994

36. PENALTIES APPLIED TO THE BANK AND SUMMARY PROCEEDINGS INITIATED BY THE BCRA

BCRA Communiqué “A” 5689, as supplemented and amended, requires financial institutions to disclose in their Financial Statements certain information regarding summaries and penalties received from certain regulatory authorities, regardless of the amounts involved and the final conclusions of each case.

There follows a description of the situation of Banco Macro SA as of June 30, 2025:

Summary proceedings filed by the BCRA

Financial summary proceedings: No. 1496 dated 02/24/2016.

Reason: control observations over subsidiaries. Penalty amount: 30,608 (not restated).

Proceeding filed against: Banco Macro SA and 11 members of the Board of Directors.

Status: on 04/07/2016, the Bank filed the defenses and evidence on the BCRA. On 05/18/2016 the Bank requested, on behalf of the person who was acting as Vice Chairman of the Bank when this summary proceeding was initiated, the resolution of the motion for lack of standing to be sued. On 09/09/2020, the BCRA filed Resolution No. 132/20 (notified on 02/22/2021) which acquitted Delfín Jorge Ezequiel Carballo and imposed a fine to the Bank and other responsible directors. On 03/01/2021 the Bank paid the fines. On 03/15/2021 the Bank filed a direct appeal against such resolution to the BCRA, which will be decided at Courtroom I of the Federal Civil and Commercial Court of Appeals (CNACAF, for its acronym in Spanish). The fine imposed on the person who was acting as Chairman of the Bank when this summary proceeding was initiated, was abrogated due to his passing. On 02/09/2023 the CNACAF issued a sentence, dismissing the direct appeals, with cost. For this reason, the Bank filed an Extraordinary Federal Appeal, which was granted for the federal law interpretation but rejected on the grounds of alleged arbitrariness. On 04/20/2023, the corresponding complaint appeal was filed against the rejection for the alleged arbitrariness, which is under study with the Federal Supreme Court of Justice (CSJN, for its acronym in Spanish). On 10/08/2024, the CSJN rejected the complaint appeal, upholding the Court's sentence that rejected the Direct Appeal filed by the Bank and the Directors.

53 

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 

AS OF JUNE 30, 2025 

(Translation of Financial Statements originally issued in Spanish – See Note 44) 

(Figures stated in thousands of pesos in constant currency)

Criminal foreign exchange summary proceedings: No. 7642 dated 10/18/2021.

Reason: supposed noncompliance with article 1 sections e) and f) of the Criminal Foreign Exchange Regime (TO by Decree No. 480/95), together with points 5, 9, 15 and 18 of BCRA Communiqué “A” 6770, and points 1.2 and 5.3 of the BCRA Communiqué “A” 6844.

Proceeding filed against: Banco Macro SA, Foreign Trade Team Leader, Regular Head of Foreign Exchange Control, Banking Transactions Manager and Compliance Manager.

Status: on 12/29/2021, Banco Macro SA and the natural persons subject to summary proceedings filed their joint defenses, offering evidence and requesting an acquittal. On 03/15/2022, the BCRA dismissed the previous defenses performed by the Bank and the rest of the responsible parties who, on 03/25/2022, filed an appeal and a nullity request which was dismissed by the BCRA. Against such resolution, on 04/25/2022 a complaint appeal was filed to the Federal Court in Economic and Criminal Matters, Courtroom No. 5, which dismissed the abovementioned appeal and submitted the file to an administrative area to continue with the proceeding. On 04/04/2023, the Bank filed a Defense Statement, being closed the evidence stage. The BCRA decided to maintain the charges and raised the case to the Economic Criminal Court, where the Economic Criminal Court No. 1 was selected. On 06/23/2025, the Court issued a sentence, acquitting Banco Macro SA and all the accused individuals from all guilt and charges. This sentence was notified to both the responsible parties and the Public Prosecutor's Office on 06/24/2025, leaving it as final sentence.

Criminal foreign exchange summary proceedings: No. 8062 dated 08/08/2023.

Reason: alleged infringements of Criminal Foreign Exchange Law, section 1(e) and (f), as well as points 1.2, 3.6.2, 3.16.1, 5.3, 10.4.2.4 and 10.4.2.5 of the Revised Text on Foreign Exchange Matters. On 03/15/2024, the BCRA dismiss the previous defenses performed by the responsible parties. Against this, on 03/20/2024, they filed an appeal and a nullity request, for its resolution in court, which were rejected because the Court in Economic and Criminal Matters considered that the resolutions issued by the BCRA during the summary investigation are not appealable.

Proceeding filed against: Banco Macro SA, Trade Team Leader, Regular Head of Foreign Exchange Control, Banking Transactions Manager and Compliance Manager.

Status: the case is in evidence production stage (the production of evidence was notified by the BCRA on 10/03/2024). As of the date of issuance of these condensed consolidated interim Financial Statements, the BCRA is still pending to close the evidence stage and place the file for arguments.

File: No. 7810.

Reason: alleged breach in exchange matters, 1 operation in 2018 and 12 operations in 2020.

Proceeding filed against: Banco Itaú Argentina SA, General Manager of former Banco BMA SAU, 1 member of the Board of Directors, Regular Head of Foreign Exchange Control, Alternate Head of Foreign Exchange Control, Transactions Manager and Head of Foreign Trade.

Status: on October 25, 2022, former Banco BMA SAU filed their defenses. On April 20, 2023, the BCRA ordered the opening of the evidence stage. On May 6, 2024, the BCRA resolved to close the evidence stage. On May 13, 2024, each of the defendants lodged their memorials. On March 27, 2025, the BCRA decided to send the summary proceedings to the National Court of Appeals in Economic Criminal Matters. The case was assigned to Economic Criminal Court No. 10, Secretariat No. 20.

Additionally, there are pending summary proceedings with the CNV and the UIF, as described below:

File: No. 1480/2011 (CNV Resolution No. 17529) dated 09/26/2014.

Reason: potential non-compliance with the obligation to inform a “Significant Event”. Penalty amount: 500 (not restated).

Proceeding filed against: Banco Macro SA, 10 members of the Board of Directors, 3 regular members of the Statutory Audit Committee and the person in charge of market relations.

Status: on 10/28/2014 the Bank and the persons involved filed their defenses offering evidence and requesting their acquittal. On 08/03/2015 the term to produce evidence was closed and on 08/19/2015 the defendants lodged their memorials. On 03/04/2021, the Board of Directors of the CNV filed a resolution dismissing the nullity and imposing a fine to the Bank jointly and severally with its Directors at the moment when the facts were investigated. Against such resolution, on 05/03/2021 a direct appeal was filed. In December 2021, the CNV referred the proceedings to the National Court of Appeals in Federal Civil and Commercial Matters (CNACAF, for its acronym in Spanish), under the file number 14633/2021. On 08/10/2023, the Court considered the notice sent to the Argentine Government’s legal counsel. On 02/20/2024, the Court resolved to revoke the appealed resolution, declaring the sanctioning action extinguished for having infringed the guarantee of reasonable period and due process, with costs to the defeated party. On 03/06/2024 the CNV brought an Extraordinary Federal Appeal, which was answered on 07/04/2024 requesting its dismissal and answering the grievances in subsidy. On 09/05/2024, the Courtroom II of the Federal Civil and Commercial Court decided to deny the extraordinary appeal filed. On 09/12/2024, the CNV filed a complaint appeal against the denial of the Extraordinary Federal Appeal. The file is currently being processed in the CSJN.

54 

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

File: No. 379/2015 (UIF Resolution No. 96/2019) dated 09/17/2019.

Reason: alleged noncompliance with Anti-Money Laundering Law, as amended, and UIF Resolution No. 121/11.

Proceeding filed against: Banco Macro SA and 11 members of the Board of Directors.

Status: On 10/02/2019, Banco Macro SA and the individuals subject to summary proceedings were notified about the initiation of the proceedings. On 10/31/2019, the Bank and the individuals subject to summary proceedings filed their defense. On 01/07/2020, the party hearing the summary proceedings considered the defense filed and deferred the motion to dismiss for lack of capacity to be sued and statute of limitations upon issuing an opinion about the substance of the case. The administrative terms were suspended due to the social, preventive and mandatory lockdown declared in the country due to the Covid-19 pandemic (DNU 297/2020), up to and including 11/29/2020. On 11/30/2020, terms were resumed (DNU 876/2020). On 03/02/2021, the passing of one of the Directors was informed and the lapse of the action against him was requested. In addition, as part of the BCRA summary proceedings styled “File No. 100889/15 – Banco Macro SA, Financial Summary Proceeding No. 1496”, Resolution No. 2020-132-E-GDEBCRA-SEFYC#BCRA was issued, whereby penalties were imposed on Banco Macro SA and the parties subject to those proceedings, currently pending with the CNACAF, Courtroom I (File No. 3784/2021). The transactions for which the parties are investigated have already been subject to penalties in the abovementioned BCRA summary proceeding; therefore, there cannot be simultaneous penalties based on the same subject matter. As a result, a request was made to prevent the application of all types of penalties to the parties subject to this summary proceeding. On 08/18/2021, it was resolved to set the case for the production of evidence. On 05/05/2022 the evidence stage was closed and the actions were put to pledge, and on 07/13/2022 it moved to the stage of preparation of the final report. On 08/30/2024 the Legal Matters Management issued a verdict analyzing the legality of the proceedings, emphasizing the lack of a quorum in the Advisory Council, which allows the President of the UIF to make decisions without its intervention. It was concluded that, despite material errors corrected, there are no legal objections to continue with the administrative procedure, emphasizing the importance of the UIF in the prevention of financial crimes. On 09/17/2024, the UIF resolved to reject the Bank's defenses and impose a fine for a total amount of 400 on Banco Macro SA and a fine for a total amount of 400 on several of its directors for noncompliance with the regulations for the anti-money laundering and terrorist financing. On 10/30/2024, a direct appeal was filed with the CNACF against Resolution No. RESAP-2024-13-APN-UIF#MJ, which is being processed in Chamber I of the aforementioned Court of Appeals, under the file “BANCO MACRO SA Y OTROS c/ UIF (EX 379/15 - RESOL 13/24) s/CODIGO PENAL - LEY 25246 - DTO 290/07 ART 25” (File No. 18631/2024). On 12/17/2024, the Court served notice on the Prosecutor, who issued his verdict on 02/11/2025 verifying that the direct appeals were filed on time. On 02/24/2025, the transfer of the appeals to the UIF was ordered for a period of 30 days. On this matter, on 03/11/2025 the UIF was notified of the transfer. On 04/24/2025, the UIF responded to the direct appeal filed, requesting its rejection and the confirmation of the fine.

Although the penalties described above do not involve material amounts, as of the date of issuance of these condensed consolidated interim Financial Statements, the total amount of monetary penalties received, pending payment due to any appeal lodged by the Bank, amounts to 500 and was recognized according to the BCRA Communiqués “A” 5689 and 5940, as amended and supplemented.

The Bank’s Management and its legal counsel consider no further significant accounting effects could arise from the final outcome of the abovementioned judicial proceedings.

37. CORPORATE BONDS ISSUANCE

The corporate bonds liabilities recorded by the Bank are as follows:

Corporate Bonds		Original value				Residual face value as of 06/30/2025				06/30/2025				12/31/2024
Subordinated Resettable – Class A			USD 400,000,000	(1)			USD 400,000,000				481,481,261				480,731,712
Non-subordinated – Class G			USD 400,000,000	(2)			USD 400,000,000				464,512,522
Non-subordinated – Series XXXII			1,000,000	(3)			1,000,000				17,812,496				17,022,561
Total											963,806,279				497,754,273

55

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

On April 26, 2016, the General Regular Shareholders’ Meeting approved the creation of a Global Program for the Issuance of Medium-Term Debt Securities, in accordance with the provisions of Law No. 23576, as amended and further applicable regulations, up to a maximum amount outstanding at any time during the term of the program of USD 1,000,000,000 (one billion US dollars), or an equal amount in other currencies or power units, under which it is possible to issue simple corporate bonds, not convertible into shares in one or more classes. Also, on April 28, 2017, the General Regular and Special Shareholder’ Meeting resolved to extend the maximum amount of the abovementioned Global Program up to USD 1,500,000,000 (one thousand five hundred millions US dollars), and on April 27, 2018, the abovementioned Shareholders’ Meeting resolved to increase the maximum amount of the Global Program for the Issuance of Corporate Bonds, in face value, from USD 1,500,000,000 to USD 2,500,000,000 or an equal amount in other currencies, as determined by the Board of Directors in due time. Finally, on October 20, 2021 due to a Board of Directors resolution, the Bank required from the CNV a five-year extension of the abovementioned program, which was approved by the Regulator through a note issued on December 15, 2021.

(1) On November 4, 2016, under the abovementioned Global Program, the Bank issued Subordinated Resettable Corporate Bonds, Class A, at a fixed rate of 6.75% p.a. until reset date, fully amortizable upon maturity (November 4, 2026) for a face value of USD 400,000,000 (four hundred million US dollars), under the terms and conditions set forth in the pricing supplement dated October 21, 2016. Interest is paid semiannually on May 4 and November 4 of every year and the reset date was November 4, 2021.

The reset rate was established until the maturity date at 6.643% as a result of the benchmark reset rate plus 546.3 basis points, according to the abovementioned terms and conditions. As the Bank had not exercised the option to fully or partially redeem the issuance on the reset date and under the conditions established in the pricing supplement, it was established up to maturity. On the other hand, it could be fully redeemed, not partially, and only for tax or regulatory purposes. The Bank used the funds derived from such issuance to grant loans in accordance with BCRA guidelines.

(2) On June 23, 2025, under the abovementioned Global Program, the Bank issued Class G Corporate Bonds in US dollars at a fixed rate of 8%, fully amortizable upon maturity (June 23, 2029) for a face value of USD 400.000.000 (four hundred million US dollars), under the terms and conditions set forth in the pricing supplement dated April 14, 2025. Interest is paid semiannually on June 23 and December 23 of every year.

At any time, according to the current regulations, particularly the BCRA’s foreign exchange regulations, the Bank may opt to redeem Class G Corporate Bonds in full, but not partially, respecting current regulations regarding equal treatment among investors. The Bank intends to use the funds arising from this issue in accordance with Corporate Bonds Law and BCRA regulations. These purposes are as follows:

a) Payment and/or refinancing of existing debt.

b) Investments in fixed assets located in Argentina.

c) Working capital in Argentina.

d) Acquisition of companies or businesses located in Argentina.

e) Capital contributions and/or financing of commercial activities of some of its subsidiaries or related companies.

f) General financing needs related to its commercial activity.

Additionally, on July 29, 2025, the Bank offered for subscription additional Class G simple corporate bonds (not convertible into shares), with the same characteristics previously described, for a face value of USD 200,000,000. As a result of this offering, on August 4, 2025, the Bank issued and settled corporate bonds for a face value of USD 130,000,000.

As of the date of issuance of these condensed consolidated interim Financial Statements, the total face value of Class G corporate bonds amounts to USD 530,000,000.

(3) On February 29, 2008, the shareholders’ meeting of former Banco BMA SAU, now merged with Banco Macro SA, approved the presentation of a program for the issuance and placement of corporate bonds for USD 250,000,000 or its equivalent in other currencies. On April 30, 2008, the Board of Directors of the CNV authorized through resolution No. 15869 the entry of Banco Itaú Argentina SA into public offering regime through the issuance of corporate bonds for up to an amount of USD 250,000,000 or its equivalent in other currencies. On April 30, 2008, the CNV approved the Program Prospectus.

On March 9, 2013, the shareholders’ meeting of former Banco BMA SAU resolved to extend the amount of the Corporate Bonds Program up to USD 350,000,000 or its equivalent in other currencies. On May 23, 2018, the CNV approved through resolution No. 19527 the increase in the amount and the extension of the Program.

On March 14, 2022, under the abovementioned Program, former Banco BMA SAU issued non-subordinated corporate bonds Series XXXII at a fixed rate of 2.78% plus UVA adjustment, fully amortizable upon maturity (August 18, 2025). Interest is paid quarterly, in arrears.

As of the date of issuance of these condensed consolidated interim Financial Statements, Series XXXII corporate bonds have been fully paid.

56

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

38. OFF BALANCE SHEET TRANSACTIONS

In addition to Note 4, the Bank maintains different off balance sheet transactions, pursuant to the BCRA standards. The composition of the amounts of the main off balance sheet transactions as of June 30, 2025 and December 31, 2024, is as follows:

Composition		06/30/2025				12/31/2024
Custody of government and private securities and other assets held by third parties			11,074,345,173				12,375,230,183
Preferred and other collaterals received from customers (1)			2,762,750,932				2,165,373,299
Outstanding checks not yet paid			298,264,201				291,343,668
Checks already deposited and pending clearance			259,167,616				208,394,204

(1) Related to collaterals used to secure loans transactions and other financing, under the applicable rules in force on this matter.

39. TAX AND OTHER CLAIMS

39.1 Tax claims

The former AFIP and tax authorities of the relevant jurisdictions have reviewed the tax returns filed by the Bank related to income tax, minimum presumed income tax and other taxes (mainly turnover tax). As a result, there are claims pending at court and/or administrative levels, either subject to discussion or appeal. The most significant claims are summarized below:

a) Former AFIP’s challenges against the income tax returns filed by former Banco Bansud SA (for the fiscal years from June 30, 1995, through June 30, 1999, and for the irregular six-month period ended December 31, 1999) and by former Banco Macro SA (for the fiscal years ended from December 31, 1998, through December 31, 2000).

The matter under discussion that has not been resolved as yet and on which the regulatory agency bases its position is the impossibility of deducting credits that have collateral security, an issue that has been addressed by the Federal Administrative Tax Court and CSJN in similar cases, which have issued resolutions that are favorable to the Bank’s position.

b) The former AFIP’s ex-officio undocumented expenses determinations for the periods February, April, May 2015 and from July 2015 through January 2018, both included of date April 19, 2021, On October 5, 2021, the Bank filed an appeal to the Federal Tax Court which is in process in Courtroom B, Office 6, under file 2021-96970075.

On 09/02/2024, the National Tax Court issued a sentence against the Bank’s interests, with costs at its expense. On 09/16/2024, a limited review and appeal request was filed with the Federal Administrative Contentious Court, which was initiated on 09/23/2024 and is pending elevation and, therefore, resolution. As a consequence of the above, on 09/23/2024 the Bank promoted an autonomous cautionary action, requesting the intervening Judge to order the former AFIP to suspend the coercive claim until the final resolution of the substantive issue, currently with a pending appeal request in the Court. The aforementioned cautionary action is being processed in the Federal Administrative Contentious Court No. 12, under file No. 16201/2024.

On 05/22/2025, the Courtroom III of the Court issued a sentence confirming the cautionary action in favor of the Entity. However, the former AFIP filed an extraordinary appeal, which was rejected by the Court in a sentence of 07/03/2025. Finally, the former AFIP filed a direct complaint appeal with the CSJN, which is pending resolution.

c) Ex-officio turnover tax determinations in progress and/or adjustments, as a withholding agent and over municipal fees, pending resolution by the tax authorities of certain jurisdictions.

The Bank’s Management and its tax advisors and legal counsel consider no further significant accounting effects could arise from the final outcome of the abovementioned proceedings other than those disclosed in these consolidated Financial Statements.

57

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

39.2 Other claims

The Bank registered actions initiated by consumer protection associations in relation to the collection of certain commissions and/or financial charges or practices and certain withholdings made by the Bank to individuals as CABA stamp tax withholding agent.

The Bank’s Management and its legal counsel consider no further significant accounting effects could arise from the final outcome of the abovementioned proceedings other than those already disclosed in these consolidated Financial Statements.

40. RESTRICTION ON DIVIDENDS DISTRIBUTION

a) According to BCRA regulations, 20% of Banco Macro SA income for the year, without including Other comprehensive income, for the year plus/less prior-year adjustments and less accumulated losses as for the prior year-end, if any, should be allocated to the legal retained earnings.

b) Through Communiqué “A” 6464, as amended, the BCRA establishes the general procedure to distribute earnings. According to that procedure, earnings may only be distributed if certain circumstances are met, such as no records of financial assistance from the BCRA due to illiquidity or shortages in payments of minimum capital or minimum cash requirement deficiencies and not being subject to the provisions of sections 34 and 35 bis of the Financial Entities Law (sections dealing with tax payment and restructuring agreements and reorganization of the Bank), among other conditions listed in the abovementioned communiqué that must be met. In addition, the earnings distribution approved by the shareholders’ meeting of the Bank could only be formalized once the Superintendence of Financial and Foreign Exchange Entities of the BCRA approved it.

Additionally, profits may only be distributed to the extent that the financial institution has positive results, after deducting, on a non-accounting basis, from retained earnings and the optional reserve for future distribution of earnings, (i) the amounts of the legal and other earnings reserves which are mandatory, (ii) all debit amounts of each one of the accounting items recognized in “Other Comprehensive Income”, (iii) income from the revaluation of property, plant and equipment, intangible assets and investment property, (iv) the positive net difference between the amortized cost and the fair value of government debt instruments and/or monetary regulation instruments issued by the BCRA for those instruments recognized at amortized cost, (v) the adjustments identified by the Superintendence of Financial and Exchange Entities of the BCRA or by the independent external auditor and that have not been recognized in the accounting records and (vi) certain franchises granted by the BCRA. Moreover, no profit distributions shall be made out of the profit originated as a result of the first-time application of the IFRS, for which a normative reserve was created, and its balance as of June 30, 2025 was 167,045,615 (nominal value: 3,475,669).

The Bank must verify that, after completion of the earning distribution, a capital maintenance margin equal to 3.5% of risk-weighted assets is kept, apart from the minimum capital required by law, to be integrated by Tier 1 (COn1) ordinary capital, net of deductible items (CDCOn1).

According to Communiqué “A” 8214, the BCRA established that up to December 31, 2025, financial institutions which have the prior BCRA’s authorization will be allowed to distribute earnings up to 60% of the amount that would have corresponded in ten equal, monthly and consecutive installments (from June 30, 2025 and no earlier than the penultimate working day of the following months). Moreover, the BCRA established that the calculation of the items to determine the distributable earnings, as well as the amount of the installments, must be stated in constant currency as of the date of the meeting or the date of payment of each installment, as applicable. Subsequently, through Communiqué “A” 8235, the BCRA established that financial institutions that resolve to distribute earnings within the framework of what is expected by the Communiqué "A” 8214, must grant the option to each non-resident shareholder to receive their dividends –totally or partially– in a single cash installment as long as those funds are applied directly to the primary subscription of Bonds for the Reconstruction of a Free Argentina (BOPREAL, for its acronym in Spanish) in accordance with current exchange regulations.

c) Pursuant to CNV General Resolution No. 622, the shareholders’ meeting in charge of analyzing the annual Financial Statements will be required to decide on the application of the Bank’s retained earnings, such as the actual distribution of dividends, the capitalization thereof through the delivery of bonus shares, the creation of earnings reserves additional to the legal earnings retained or a combination of any of these applications.

58

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

Moreover, the Regular Shareholders’ Meeting of Banco Macro SA held on April 4, 2025 decided to applied the unappropriated retained earnings for an amount of 314,113,791 (not restated) as follows (the figures mentioned below are stated in constant currency as of December 31, 2024):

a) 62,524,570 to the Legal Reserve;

b) 6,926,474 to the Personal Asset Tax on Business Companies; and

c) 244,662,747 to the Optional Reserve for Future Distribution of Earnings.

In addition, as it is mentioned in Note 30, the aforementioned Shareholders decided to partially apply the Optional Reserve for Future Distribution of Earnings, in order to allocate up to the amount of 300,000,000 (figure stated in constant currency as of December 31, 2024) to the payment of a cash dividend and/or dividend in kind subject to prior authorization from the BCRA. On June 4, 2025, the BCRA authorized this earnings distribution. See also Note 30.

41. CAPITAL MANAGEMENT, CORPORATE GOVERNANCE TRANSPARENCY POLICY AND RISK MANAGEMENT

As a financial institution, the activities of Banco Macro SA are governed by Financial Entities Law No. 21526, as supplemented, and the regulations issued by the BCRA, and is exposed to intrinsic risks related to the financial industry. Moreover, the Bank adheres to the good banking practices laid out in BCRA Communiqué “A” 7465 - Financial Entities Corporate Governance Guidelines. Detailed explanations about the main aspects related to capital management, corporate governance transparency policy and risk management related to the Bank, are disclosed in Note 44 to the consolidated Financial Statements as of December 31, 2024, already issued.

Additionally, the table below shows the minimum capital requirements measured on a consolidated basis, effective for the month of June 2025, along with its integration (computable equity liability) as of the end of such month:

Item		06/30/2025
Minimum capital requirements			1,147,519,388
Computable equity			4,281,913,416
Capital surplus			3,134,394,028

42. CHANGES IN THE ARGENTINE MACROECONOMIC ENVIRONMENT AND FINANCIAL AND CAPITAL MARKETS

In the last years, the argentine financial market has observed a prolonged period of volatility in the prices of public and private financial instruments, including a significant increase of country risk, the strong devaluation of the argentine peso, the acceleration of the inflation rate (see Note 3, section "Unit of measurement") and the rising interest rates.

On December 10, 2023, the new authorities of the argentine National Government took office and issued a series of emergency measures within the framework of an economic policy proposal that, among its main objectives, pursues the elimination of the fiscal deficit on the basis of reducing primary public spending of both the Nation and the Provinces, and the resizing of the Federal Government’s structure, eliminating subsidies and transfers.

As soon as the new administration took office, it adopted measures aimed at normalizing the exchange and financial markets. On the one hand, the devaluation of the peso in the official exchange market -used mainly for foreign trade- close to 55%, together with a complete reconsideration of monetary and fiscal policies, has allowed to begin to reverse the gap between the values of currencies in the official and free exchange markets (stock market operations) from its maximum of 200% during the last quarter of 2023. On April 11, 2025, the argentine National Government announced a series of measures aimed at easing regulations related to access to the foreign exchange market. Among other modifications, these measures include the establishment of floating bands (between Ps. 1,000 and Ps. 1,400, range to be updated at a rate of 1% per month) within which the dollar exchange rate in the foreign exchange market may fluctuate, and the elimination of foreign exchange restrictions applicable to individuals, including the limit of access to the foreign exchange market for up to USD 200 per month. As of the date of issuance of these condensed consolidated interim Financial Statements, the mentioned gap between the values of currencies in the official and free exchange markets arises to 1%.

59

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

On the other hand, the National Government and the BCRA reformulated monetary and financial policies to drastically reduce the known as quasi-fiscal deficit. The debt exchange of the BCRA with the banks, including puts on government securities held by financial institutions, and their transfer to the National Treasury, together with the fiscal cash surplus obtained by the Nation and the renewal of the debt services denominated in pesos, allowed to significantly absorb the excess of money in the economy and, in this way, reduce both inflation (6.01% during the second quarter of 2025) and nominal interest rates.

In relation to national public debt, various voluntary exchanges at local level and the agreements reached regarding commitments with the Paris Club and the International Monetary Fund (IMF), allowed the country to avoid arrears and the BCRA to advance in the normalization of foreign commercial debt and, more recently, to accumulate international reserves from the external trade surplus and the Assets Regularization Regime contemplated in Law 27743. On April 11, 2025, the IMF Executive Board approved a program of Extended Fund Facility (EFF) for a total amount of approximately USD 20 billion, also approving an immediate initial disbursement of USD 12 billion and an additional disbursement of USD 2 billion completed during August 2025. Additionally, on April 11, 2025, the World Bank and the Inter-American Development Bank approved the granting of financial assistance to Argentina under respective multi-year programs amounting to USD 12 billion (of which USD 1.5 billion will be deposited immediately) and USD 10 billion, respectively.

On a broader level, the National Government's program includes reforms to both the economic framework and other areas of government work. On December 20, 2023, through Decree of Necessity and Urgency No. 70/2023, a significant number of reforms were established in a large number of areas, some of which were challenged in the Justice by the affected sectors, presenting protections and unconstitutionality requests to stop their application. Subsequently, part of what was challenged was incorporated into other initiatives that were approved by Congress and promulgated by the National Executive Branch. On July 8, 2024, Law No. 27742 was published in the Official Gazette and promulgated by the National Executive Branch through Decree No. 592/2024 and includes among its points delegation of powers to the National Executive Branch, tax, labor and social security reforms, among others.

Although the argentine macroeconomic and financial environment has evolved favorably in the last months, a certain slowness and heterogeneity in the recovery of the activity level in the country and a relatively uncertain international context, require permanent monitoring of the situation by the Bank's Management in order to identify those issues that may impact its patrimonial and financial position, which may be appropriate to reflect in the Financial Statements of future periods.

43. EVENTS AFTER REPORTING PERIOD

No other significant events occurred between the end of the period and the issuance of these condensed consolidated interim Financial Statements that may materially affect the financial position or the profit and loss of the period, not disclosed in these condensed consolidated interim Financial Statements.

44. ACCOUNTING PRINCIPLES – EXPLANATION ADDED FOR TRANSLATION INTO ENGLISH

These condensed consolidated interim Financial Statements are presented in accordance with the accounting framework established by the BCRA, as mentioned in Note 3. These accounting standards may not conform to accounting principles generally accepted in other countries.

60 Jorge Pablo Brito Chairperson

EXHIBIT B

CONSOLIDATED CLASSIFICATION OF LOANS AND OTHER FINANCING

BY SITUATION AND COLLATERAL RECEIVED

AS OF JUNE 30, 2025 AND DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

COMMERCIAL		06/30/2025				12/31/2024
In normal situation			3,161,435,898				2,008,493,541
With senior “A” collateral and counter-collateral			107,642,916				101,964,952
With senior “B” collateral and counter-collateral			224,333,137				185,257,546
Without senior collateral or counter-collateral			2,829,459,845				1,721,271,043
Subject to special monitoring			3,344,565				3,512,395
In observation
With senior “B” collateral and counter-collateral			3,344,565				3,512,395
With high risk of insolvency			4,617,887				5,945,368
With senior “B” collateral and counter-collateral			4,151,459				5,274,560
Without senior collateral or counter-collateral			466,428				670,808
Irrecoverable			11,883,726				11,912,132
With senior “B” collateral and counter-collateral			5,383,625				5,357,893
Without senior collateral or counter-collateral			6,500,101				6,554,239
Subtotal commercial			3,181,282,076				2,029,863,436

61 Jorge Pablo Brito Chairperson

EXHIBIT B

(continued)

CONSOLIDATED CLASSIFICATION OF LOANS AND OTHER FINANCING

BY SITUATION AND COLLATERAL RECEIVED

AS OF JUNE 30, 2025 AND DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

CONSUMER AND MORTGAGE		06/30/2025				12/31/2024
Performing			6,211,062,205				4,970,755,626
With senior “A” collateral and counter-collateral			429,668,739				379,719,971
With senior “B” collateral and counter-collateral			455,712,202				284,924,206
Without senior collateral or counter-collateral			5,325,681,264				4,306,111,449
Low risk			170,210,210				55,484,553
With senior “A” collateral and counter-collateral			5,505,367				1,073,744
With senior “B” collateral and counter-collateral			5,940,013				3,490,498
Without senior collateral or counter-collateral			158,764,830				50,920,311
Low risk - in special treatment			1,413,062				522,048
With senior “B” collateral and counter-collateral			1,170
Without senior collateral or counter-collateral			1,411,892				522,048
Medium risk			108,388,390				37,948,803
With senior “A” collateral and counter-collateral			2,155,957				194,468
With senior “B” collateral and counter-collateral			655,605				757,924
Without senior collateral or counter-collateral			105,576,828				36,996,411
High risk			53,826,642				26,131,722
With senior “A” collateral and counter-collateral			226,589				263,941
With senior “B” collateral and counter-collateral			945,275				171,951
Without senior collateral or counter-collateral			52,654,778				25,695,830
Irrecoverable			22,328,164				9,212,999
With senior “A” collateral and counter-collateral			68,732				3,108
With senior “B” collateral and counter-collateral			482,107				570,555
Without senior collateral or counter-collateral			21,777,325				8,639,336
Subtotal consumer and mortgage			6,567,228,673				5,100,055,751
Total			9,748,510,749				7,129,919,187

62 Jorge Pablo Brito Chairperson

EXHIBIT B

(continued)

CONSOLIDATED CLASSIFICATION OF LOANS AND OTHER FINANCING

BY SITUATION AND COLLATERAL RECEIVED

AS OF JUNE 30, 2025 AND DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

This exhibit discloses the contractual figures as established by the BCRA. The conciliation with the condensed consolidated interim Statements of financial position is listed below.

		06/30/2025				12/31/2024
Loans and other financing			9,239,741,366				6,677,556,272
Added:
Allowances for loans and other financing			273,323,684				141,955,874
Adjustment amortized cost and fair value			8,807,187				17,799,811
Debt securities of financial trust - Measured at amortized cost			3,987,066				1,508,473
Corporate bonds			5,909,113				7,288,626
Subtract:
Interest and other accrued items receivable from financial assets with impaired credit value			(4,872,137	)			(2,303,450	)
Guarantees provided and contingent liabilities			221,614,470				286,113,581
Total computable items			9,748,510,749				7,129,919,187

63 Jorge Pablo Brito Chairperson

EXHIBIT C

CONSOLIDATED CONCENTRATION OF LOANS AND FINANCING FACILITIES

AS OF JUNE 30, 2025 AND DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

		06/30/2025								12/31/2024
Number of customers		Cut off balance				% of total portfolio				Cut off balance				% of total portfolio
10 largest customers			1,011,902,560				10.38				596,240,322				8.36
50 next largest customers			1,116,879,192				11.46				627,250,275				8.80
100 next largest customers			480,510,427				4.93				365,105,340				5.12
Other customers			7,139,218,570				73.23				5,541,323,250				77.72
Total (1)			9,748,510,749				100.00				7,129,919,187				100.00

(1) See reconciliation in Exhibit B.

64 Jorge Pablo Brito Chairperson

EXHIBIT D

CONSOLIDATED BREAKDOWN OF LOANS AND OTHER FINANCING BY TERMS

AS OF JUNE 30, 2025

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

						Remaining terms to maturity
Item		Matured				Up to 1 month				Over 1 month and up to 3 months				Over 3 months and up to 6 months				Over 6 months and up to 12 months				Over 12 months and up to 24 months				Over 24 months				Total
Non-financial public sector			1,220				26,579,808				15,028,114				23,666,006				37,338,659				37,826,073				21,576,455				162,016,335
Financial sector							85,975,707				10,300,935				3,385,995				7,791,686				8,436,722				3,814,580				119,705,625
Non-financial private sector and foreign residents			92,990,533				3,533,173,535				1,396,040,893				1,401,216,753				1,636,894,377				1,804,771,014				2,207,620,961				12,072,708,066
Total			92,991,753				3,645,729,050				1,421,369,942				1,428,268,754				1,682,024,722				1,851,033,809				2,233,011,996				12,354,430,026

This exhibit discloses the contractual future cash flows that include interest and charges to be accrued until maturity of the contracts.

CONSOLIDATED BREAKDOWN OF LOANS AND OTHER FINANCING BY TERMS

AS OF DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

						Remaining terms to maturity
Item		Matured				Up to 1 month				Over 1 month and up to 3 months				Over 3 months and up to 6 months				Over 6 months and up to 12 months				Over 12 months and up to 24 months				Over 24 months				Total
Non-financial public sector							5,889,429				14,786,398				15,297,715				37,281,130				39,844,644								113,099,316
Financial sector							72,004,453				202,099				279,796				9,649,243				1,827,410				4,468				83,967,469
Non-financial private sector and foreign residents			38,805,316				2,530,638,667				950,621,149				1,106,493,417				1,292,181,179				1,422,912,802				1,528,414,860				8,870,067,390
Total			38,805,316				2,608,532,549				965,609,646				1,122,070,928				1,339,111,552				1,464,584,856				1,528,419,328				9,067,134,175

This exhibit discloses the contractual future cash flows that include interest and charges to be accrued until maturity of the contracts.

65 Jorge Pablo Brito Chairperson

EXHIBIT F

CONSOLIDATED CHANGE OF PROPERTY, PLANT AND EQUIPMENT

AS OF JUNE 30, 2025

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

														Depreciation
Item		Original value at beginning of fiscal year		Total life estimated in years		Increases		Decreases		Transfers (1)		Difference for conversion		Accumulated		Transfers (1)		Decrease		Difference for conversion		Of the period		At the end		Residual value at the end of the period
Cost
Real property		822,866,500		50		2,631,201		1,009,464		1,777,816				111,183,673		(3,760	)	162,564				9,033,175		120,050,524		706,215,529
Furniture and facilities		122,730,477		10		1,876,479		492		9,334,061		246		62,414,834		(218	)	66		65		6,101,236		68,515,851		65,424,920
Machinery and equipment		132,372,328		5		7,401,695		6,502		43,856		1,697		66,224,977		(2,659	)	6,502		(1,163	)	12,203,812		78,418,465		61,394,609
Vehicles		28,802,065		5		1,152,562		1,236,952		(9,281	)	249		21,332,621		2,659		1,033,115		(619	)	1,540,817		21,842,363		6,866,280
Other		51,004		3								(1,134	)	19,534						2,136		5,080		26,750		23,120
Work in progress		37,286,397				19,911,698				(11,420,164	)															45,777,931
Right of use real property		80,360,737		5		6,753,746		102,290				6,832		61,445,603				102,290		5,379		4,974,918		66,323,610		20,695,415
Right of use furniture		8,092,755		5		225,864								2,639,791								947,655		3,587,446		4,731,173
Total property, plant and equipment		1,232,562,263				39,953,245		2,355,700		(273,712	)	7,890		325,261,033		(3,978	)	1,304,537		5,798		34,806,693		358,765,009		911,128,977

(1) During fiscal year 2025, transfers were made to Non-current assets held for sale.

CONSOLIDATED CHANGE OF PROPERTY, PLANT AND EQUIPMENT

AS OF DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

														Depreciation
Item		Original value at beginning of fiscal year		Total life estimated in years		Increases		Decreases		Transfers (1)		Difference for conversion		Accumulated		Transfers (1)		Decrease		Difference for conversion		For the fiscal year		At the end		Residual value at the end of the fiscal year
Cost
Real property		843,953,843		50		9,690,712		37,960,646		7,182,591				130,443,134		20,049		43,036,644				23,757,134		111,183,673		711,682,827
Furniture and facilities		149,542,719		10		3,908,844		34,647,028		3,927,843		(1,901	)	85,497,964		(491	)	33,218,163		(289	)	10,135,813		62,414,834		60,315,643
Machinery and equipment		245,592,059		5		27,663,318		141,682,032		880,621		(81,638	)	184,304,963		(1,536	)	141,157,455		(15,320	)	23,094,325		66,224,977		66,147,351
Vehicles		27,879,905		5		3,205,893		2,247,120				(36,613	)	19,699,926				1,461,092		(10,206	)	3,103,993		21,332,621		7,469,444
Other		18,791,511		3		3,029		18,706,578				(36,958	)	18,601,125				18,594,517		(5,193	)	18,119		19,534		31,470
Work in progress		21,421,306				27,342,804		359,984		(11,117,729	)															37,286,397
Right of use real property		87,596,350		5		12,039,516		17,281,170		(1,847,811	)	(146,148	)	67,152,206		(986,627	)	16,532,397		(26,778	)	11,839,199		61,445,603		18,915,134
Right of use furniture		6,244,944		5						1,847,811				1,073,915		986,628						579,248		2,639,791		5,452,964
Total property, plant and equipment		1,401,022,637				83,854,116		252,884,558		873,326		(303,258	)	506,773,233		18,023		254,000,268		(57,786	)	72,527,831		325,261,033		907,301,230

(1) During fiscal year 2024, transfers were made to Non-current assets held for sale.

66 Jorge Pablo Brito Chairperson

EXHIBIT F

(continued)

CONSOLIDATED CHANGE IN INVESTMENT PROPERTY

AS OF JUNE 30, 2025

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

														Depreciation
Item		Original value at beginning of fiscal year		Useful life estimated in years		Increases		Decreases		Transfers (1)		Difference for conversion		Accumulated		Transfers (1)		Decrease		Of the period		At the end		Residual value at the end of the period
Cost
Leased properties		3,095,649		50										595,134						30,431		625,565		2,470,084
Other investment properties		80,160,249		50		3,117,609		408,571		175,964		307		4,256,827		(162	)	408,534		1,480,405		5,328,536		77,717,022
Total investment property		83,255,898				3,117,609		408,571		175,964		307		4,851,961		(162	)	408,534		1,510,836		5,954,101		80,187,106

(1) During fiscal year 2025, transfers were made to Non-current assets held for sale.

CONSOLIDATED CHANGE IN INVESTMENT PROPERTY

AS OF DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

														Depreciation
Item		Original value at beginning of fiscal year		Useful life estimated in years		Increases		Decreases		Transfers		Difference for conversion		Accumulated		Transfers (1)		Decrease		For the fiscal year		At the end		Residual value at the end of the fiscal year
Cost
Leased properties		3,095,650		50						(1	)			534,868						60,266		595,134		2,500,515
Other investment properties		73,712,911		50		7,469,063		1,019,346		1		(2,380	)	3,551,060		8,962		1,041,083		1,737,888		4,256,827		75,903,422
Total investment property		76,808,561				7,469,063		1,019,346				(2,380	)	4,085,928		8,962		1,041,083		1,798,154		4,851,961		78,403,937

(1) During fiscal year 2024, transfers were made to Non-current assets held for sale.

67 Jorge Pablo Brito Chairperson

EXHIBIT G

CONSOLIDATED CHANGE IN INTANGIBLE ASSETS

AS OF JUNE 30, 2025

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

												Depreciation
Item		Original value at beginning of fiscal year		Useful life estimated in years		Increases		Decreases		Transfers		Accumulated		Transfers		Decrease		Of the period		At the end		Residual value at the end of the period
Cost
Licenses		83,811,463		5		7,003,666						57,175,975						8,011,400		65,187,375		25,627,754
Other intangible assets		333,366,690		5		33,463,451		133				190,261,901		1		133		34,175,945		224,437,714		142,392,294
Total intangible assets		417,178,153				40,467,117		133				247,437,876		1		133		42,187,345		289,625,089		168,020,048

CONSOLIDATED CHANGE IN INTANGIBLE ASSETS

AS OF DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

												Depreciation
Item		Original value at beginning of fiscal year		Useful life estimated in years		Increases		Decreases		Transfers		Accumulated		Transfers		Decrease		For the fiscal year		At the end		Residual value at the end of the fiscal year
Cost
Licenses		110,704,236		5		8,753,374		60,315,753		24,669,606		76,625,165		25,730,238		59,348,850		14,169,422		57,175,975		26,635,488
Other intangible assets		487,966,984		5		61,893,237		191,848,242		(24,645,289)		333,638,922		(24,743,342)		189,133,780		70,500,101		190,261,901		143,104,789
Total intangible assets		598,671,220				70,646,611		252,163,995		24,317		410,264,087		986,896		248,482,630		84,669,523		247,437,876		169,740,277

68 Jorge Pablo Brito Chairperson

EXHIBIT H

CONSOLIDATED DEPOSIT CONCENTRATION

AS OF JUNE 30, 2025 AND DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

		06/30/2025								12/31/2024
Number of customers		Outstanding balance				% of total portfolio				Outstanding balance				% of total portfolio
10 largest customers			1,654,292,467				15.58				1,437,389,374				14.83
50 next largest customers			956,540,699				9.01				1,156,015,802				11.92
100 next largest customers			497,743,987				4.69				406,343,499				4.19
Other customers			7,506,518,767				70.72				6,694,529,056				69.06
Total			10,615,095,920				100.00				9,694,277,731				100.00

69 Jorge Pablo Brito Chairperson

EXHIBIT I

CONSOLIDATED BREAKDOWN OF FINANCIAL LIABILITIES FOR RESIDUAL TERMS

AS OF JUNE 30, 2025

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

		Remaining terms to maturity
Item		Up to 1 month				Over 1 month and up to 3 months				Over 3 months and up to 6 months				Over 6 months and up to 12 months				Over 12 months and up to 24 months				Over 24 months				Total
Deposits			9,693,291,787				600,152,858				331,306,977				78,786,280				4,196,112				188,712				10,707,922,726
From the non-financial public sector			790,204,908				20,257,357				72,378,580				621,514												883,462,359
From the financial sector			13,440,618																								13,440,618
From the non-financial private sector and foreign residents			8,889,646,261				579,895,501				258,928,397				78,164,766				4,196,112				188,712				9,811,019,749
Liabilities at fair value through profit or loss			13,618,843																								13,618,843
Derivative financial instruments			255,534				212,590				195,473																663,597
Other financial liabilities			1,287,114,282				4,040,930				3,989,378				9,247,121				13,961,747				32,109,529				1,350,462,987
Financing received from the BCRA and other financial institutions			13,921,869				18,647,123				11,781,348				24,015,416				378,545				99,535				68,843,836
Issued corporate bonds							12,136,601				19,105,333				19,105,333				38,210,666				554,054,652				642,612,585
Subordinated corporate bonds											15,780,521				15,780,521				490,882,741								522,443,783
Total			11,008,202,315				635,190,102				382,159,030				146,934,671				547,629,811				586,452,428				13,306,568,357

This exhibit discloses contractual future cash flows that include interests and charges to be accrued until maturity of the contracts.

		Jorge Pablo Brito
	70	Chairperson

EXHIBIT I

CONSOLIDATED BREAKDOWN OF FINANCIAL LIABILITIES FOR RESIDUAL TERMS

AS OF DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

		Remaining terms to maturity
Item		Up to 1 month				Over 1 month and up to 3 months				Over 3 months and up to 6 months				Over 6 months and up to 12 months				Over 12 months and up to 24 months				Over 24 months				Total
Deposits			9,120,571,941				426,867,137				115,853,467				74,879,647				170,697				27,558				9,738,370,447
From the non-financial public sector			672,908,105				23,506,273				316,822				49,101,880												745,833,080
From the financial sector			13,837,907																								13,837,907
From the non-financial private sector and foreign residents			8,433,825,929				403,360,864				115,536,645				25,777,767				170,697				27,558				8,978,699,460
Liabilities at fair value through profit or loss			8,267,933																								8,267,933
Derivative financial instruments			331,612				519,239				480,022				190,251												1,521,124
Repo transactions			21,991,682																								21,991,682
Other financial entities			21,991,682																								21,991,682
Other financial liabilities			1,145,473,086				3,389,517				3,551,135				5,538,287				11,330,985				29,460,322				1,198,743,332
Financing received from the BCRA and other financial institutions			21,367,704				19,082,493				9,379,339				109,385				211,026				200,700				50,350,647
Issued corporate bonds							109,927				120,071				17,637,842												17,867,840
Subordinated corporate bonds											15,731,270				15,731,270				505,081,987								536,544,527
Total			10,318,003,958				449,968,313				145,115,304				114,086,682				516,794,695				29,688,580				11,573,657,532

This exhibit discloses contractual future cash flows that include interests and charges to be accrued until maturity of the contracts.

		Jorge Pablo Brito
	71	Chairperson

EXHIBIT J

CONSOLIDATED CHANGES IN PROVISIONS

AS OF JUNE 30, 2025

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

		Amounts at beginning of								Decreases								Monetary effect generated by
Item		fiscal year				Increases				Reversals				Charge off				provisions				06/30/2025
Provisions for eventual commitments			9,052,609				1,103,110												(1,309,762	)			8,845,957
For administrative, disciplinary and criminal penalties			576																(76	)			500
Other			10,594,516				5,102,687								5,050,212				(1,376,267	)			9,270,724
Total provisions			19,647,701				6,205,797								5,050,212				(2,686,105	)			18,117,181

CONSOLIDATED CHANGES IN PROVISIONS

AS OF DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

		Amounts at beginning of								Decreases								Monetary effect generated by
Item		fiscal year				Increases				Reversals				Charge off				provisions				12/31/2024
Provisions for eventual commitments			5,281,517				8,331,692				87,339				345,049				(4,128,212	)			9,052,609
For administrative, disciplinary and criminal penalties			1,253				18,692								18,692				(677	)			576
Other			16,631,878				10,921,888				296,384				6,763,328				(9,899,538	)			10,594,516
Total provisions			21,914,648				19,272,272				383,723				7,127,069				(14,028,427	)			19,647,701

		Jorge Pablo Brito
	72	Chairperson

EXHIBIT L

CONSOLIDATED FOREIGN CURRENCY AMOUNTS

AS OF JUNE 30, 2025 AND DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

		06/30/2025																				12/31/2024
		Total parent company and				Total per currency
Item		local branches				US dollar				Euro				Real				Other				Total
Assets
Cash and deposits in banks			1,877,263,202				1,845,178,488				29,416,761				258,789				2,409,164				2,353,556,867
Debt securities at fair value through profit or loss (1)			103,052,090				103,052,090																151,591,915
Other financial assets			114,864,957				114,783,482				81,475												89,852,713
Loans and other financing			1,910,035,902				1,909,493,016				542,886												1,297,230,928
Other financial entities			119,949				119,949																59,605
Non-financial private sector and foreign residents			1,909,915,953				1,909,373,067				542,886												1,297,171,323
Other debt securities			103,012,206				103,012,206																95,382,563
Financial assets delivered as guarantee			34,813,757				34,729,246				84,511												30,067,709
Equity instruments at fair value through profit or loss			403,158				403,158																351,669
Total assets			4,143,445,272				4,110,651,686				30,125,633				258,789				2,409,164				4,018,034,364
Liabilities
Deposits			3,098,859,962				3,077,272,246				21,587,716												3,177,603,786
Non-financial public sector			155,084,525				155,084,525																109,135,926
Financial sector			13,111,637				13,111,637																13,078,758
Non-financial private sector and foreign residents			2,930,663,800				2,909,076,084				21,587,716												3,055,389,102
Liabilities at fair value through profit or loss			4,884,061				4,884,061
Other financial liabilities			239,184,950				235,311,124				3,699,322				95				174,409				186,336,303
Financing received from the BCRA and other financial institutions			67,996,496				67,451,536				544,960												49,723,159
Issued corporate bonds			464,512,522				464,512,522
Subordinated corporate bonds			481,481,261				481,481,261																480,731,712
Other non-financial liabilities			4,307,569				4,307,569																4,797,218
Total liabilities			4,361,226,821				4,335,220,319				25,831,998				95				174,409				3,899,192,178

(1) Includes Argentine Treasury Bonds linked to the US dollar for 1,789,432.

		Jorge Pablo Brito
	73	Chairperson

EXHIBIT Q

CONSOLIDATED BREAKDOWN OF STATEMENT OF INCOME

FOR THE THREE AND SIX MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

		Net financial Income / (Loss)
		Mandatory measurement
Item		Quarter ended 06/30/2025				Accumulated from beginning of year up to 06/30/2025				Quarter ended 06/30/2024				Accumulated from beginning of year up to 06/30/2024
For measurement of financial assets at fair value through profit or loss
Gain from government securities			86,791,970				128,029,383				149,018,810				2,263,615,530
Gain from private securities			4,266,265				12,448,354				12,225,447				23,100,975
Gain from derivative financial instruments
Forward transactions			6,709,553				8,210,961				6,039,682				14,578,243
Gain from other financial assets			230,792				2,158,548				2,223,122				7,455,518
Gain from equity instruments at fair value through profit or loss			4,754,344				18,141,888				2,949,804				3,668,991
Gain / (loss) from sale or write-off of financial assets at fair value (1)			9,379,003				15,408,641				1,661,893				(22,314,323	)
For measurement of financial liabilities at fair value through profit or loss
Gain / (loss) from derivative financial instruments
Options			1,585,077				(259,520	)			(5,142,851	)			(17,718,899	)
Total			113,717,004				184,138,255				168,975,907				2,272,386,035

(1) Net amount of reclassifications to profit of instruments classified at fair value through other comprehensive income that were derecognized or charged during the period.

		Jorge Pablo Brito
	74	Chairperson

EXHIBIT Q

(continued)

CONSOLIDATED BREAKDOWN OF STATEMENT OF INCOME

FOR THE THREE AND SIX MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

		Net financial Income / (Loss)
Interest and adjustment for the application of the effective interest rate of financial assets and financial liabilities measured at amortized cost		Quarter ended 06/30/2025				Accumulated from beginning of year up to 06/30/2025				Quarter ended 06/30/2024				Accumulated from beginning of year up to 06/30/2024
Interest income
for cash and bank deposits			2,672,499				5,128,208				4,653,046				9,834,916
for government securities			316,541,887				583,000,407				217,380,078				265,456,824
for private securities			720,457				999,351				856,629				2,591,689
for loans and other financing
Non-financial public sector			6,679,850				13,190,239				1,147,622				3,901,914
Financial sector			4,569,286				7,514,418				1,375,200				3,073,532
Non-financial private sector
Overdrafts			106,482,748				173,485,706				85,892,739				203,863,003
Documents			65,111,117				118,676,006				60,167,350				154,241,845
Mortgage loans			59,629,818				107,655,424				115,466,796				295,238,339
Pledge loans			7,133,991				12,327,404				4,132,013				9,327,170
Personal loans			310,278,580				580,531,656				132,481,916				247,781,091
Credit cards			87,093,627				170,652,403				83,202,871				190,513,531
Financial leases			1,985,867				5,542,313				3,615,171				9,417,051
Other			97,152,867				184,498,082				87,296,559				225,520,250
for repo transactions
Central Bank of Argentina											67,651,434				318,654,273
Other financial entities			1,007,876				1,923,432				253,327				360,026
Total			1,067,060,470				1,965,125,049				865,572,751				1,939,775,454
Interest expenses
for Deposits
Non-financial private sector
Checking accounts			(7,145,411	)			(21,447,705	)			(49,800,350	)			(155,776,060	)
Saving accounts			(5,569,763	)			(10,445,181	)			(13,675,553	)			(35,310,303	)
Time deposits and investments accounts			(364,361,914	)			(635,679,939	)			(518,719,374	)			(1,262,485,899	)
Other							(2	)			(82	)			(124	)
for financing received from the BCRA and other financial institutions			(318,110	)			(644,502	)			115,164				(3,569,016	)
for repo transactions
Other financial entities			(41,691	)			(1,401,434	)			(2,641,529	)			(9,433,968	)
for other financial liabilities			(3,387,364	)			(7,121,700	)			(3,683,748	)			(8,641,472	)
for issued corporate bonds			(2,692,474	)			(4,263,612	)			(5,203,827	)			(13,049,541	)
for other subordinated corporate bonds			(7,653,273	)			(15,004,138	)			(8,290,580	)			(18,266,679	)
Total			(391,170,000	)			(696,008,213	)			(601,899,879	)			(1,506,533,062	)

		Jorge Pablo Brito
	75	Chairperson

EXHIBIT Q

(continued)

CONSOLIDATED BREAKDOWN OF STATEMENT OF INCOME

FOR THE THREE AND SIX MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

		Income of the period						Other comprehensive income						Income of the period						Other comprehensive income
Interest and adjustment for the application of the effective interest rate of financial assets measured at fair value through OCI		Quarter ended 06/30/2025			Accumulated from beginning of year up to 06/30/2025			Quarter ended 06/30/2025			Accumulated from beginning of year up to 06/30/2025			Quarter ended 06/30/2024			Accumulated from beginning of year up to 06/30/2024			Quarter ended 06/30/2024			Accumulated from beginning of year up to 06/30/2024
For debt government securities			20,998,041			41,769,481			7,142,308			6,662,949			1,207,789			108,549,464			(93,409,585	)		(81,843,771	)
Total			20,998,041			41,769,481			7,142,308			6,662,949			1,207,789			108,549,464			(93,409,585	)		(81,843,771	)

		Income of the period
Item		Quarter ended 06/30/2025				Accumulated from beginning of year up to 06/30/2025				Quarter ended 06/30/2024				Accumulated from beginning of year up to 06/30/2024
Commissions income
Commissions related to obligations			99,916,745				197,327,149				83,809,797				155,432,739
Commissions related to credits			4,519,719				7,849,067				5,362,855				7,046,797
Commissions related to loans commitments and financial guarantees			314,506				488,731				1,835,636				4,026,630
Commissions related to securities value			5,422,158				13,177,694				5,480,275				10,333,679
Commissions for credit cards			78,781,473				131,467,434				48,287,386				94,308,181
Commissions for insurances			12,799,689				25,780,843				7,880,577				13,880,337
Commissions related to trading and foreign exchange transactions			6,458,183				12,114,916				5,243,812				12,043,513
Total			208,212,473				388,205,834				157,900,338				297,071,876
Commissions expenses
Commissions related to debt securities trading			(22,811	)			(43,446	)			(160,312	)			(513,302	)
Commissions related to trading and foreign exchange transactions			(913,923	)			(1,726,105	)			(1,873,389	)			(3,434,657	)
Other
Commissions paid ATM exchange			(19,685,198	)			(36,517,181	)			(17,643,757	)			(26,534,111	)
Checkbooks commissions and clearing houses			(5,691,524	)			(11,009,255	)			(3,635,455	)			(6,515,978	)
Credit cards and foreign trade commissions			(1,483,044	)			(3,207,294	)			513,318				(2,546,656	)
Total			(27,796,500	)			(52,503,281	)			(22,799,595	)			(39,544,704	)

		Jorge Pablo Brito
	76	Chairperson

EXHIBIT R

VALUE ADJUSTMENT FOR CREDIT LOSSES - CONSOLIDATED ALLOWANCES FOR UNCOLLECTIBILITY RISK

AS OF JUNE 30, 2025

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

						Movements between stages of the period
										ECL of remaining life of financial asset
Item		Amounts at beginning of the fiscal year				ECL of the next 12 months				Financial instruments with a significant increase in credit risk				Financial instruments with impairment				Monetary effect generated by allowances				06/30/2025
Other financial assets			322,175				(231,949	)											(35,186	)			55,040
Loans and other financing			141,955,874				36,227,904				45,230,282				71,863,297				(21,953,673	)			273,323,684
Other financial entities			34,200				30,193				(226	)							(6,199	)			57,968
To the non-financial private sector and foreign residents
Overdrafts			13,983,849				4,650,629				4,318,697				5,080,141				(2,142,583	)			25,890,733
Documents			6,387,372				1,958,531				388,436				1,873,553				(913,175	)			9,694,717
Mortgage loans			10,071,006				1,386,013				947,694				1,347,952				(1,396,064	)			12,356,601
Pledge loans			1,958,301				605,354				907,129				119,796				(291,775	)			3,298,805
Personal loans			48,168,877				15,440,917				23,672,895				35,736,494				(7,981,249	)			115,037,934
Credit cards			40,950,819				8,684,431				12,547,280				22,527,915				(6,343,570	)			78,366,875
Financial leases			507,682				(222,916	)			47,451				51,125				(61,665	)			321,677
Other			19,893,768				3,694,752				2,400,926				5,126,321				(2,817,393	)			28,298,374
Eventual commitments			9,052,609				604,327				409,441								(1,220,420	)			8,845,957
Other debt securities			6,694				6,780												(979	)			12,495
Total allowances			151,337,352				36,607,062				45,639,723				71,863,297				(23,210,258	)			282,237,176

VALUE ADJUSTMENT FOR CREDIT LOSSES - CONSOLIDATED ALLOWANCES FOR UNCOLLECTIBILITY RISK

AS OF DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 44)

(Figures stated in thousands of pesos in constant currency)

						Movements between stages for the fiscal year
										ECL of remaining life of financial asset
Item		Amounts at beginning of the fiscal year				ECL of the next 12 months				Financial instruments with a significant increase in credit risk				Financial instruments with impairment				Monetary effect generated by allowances				12/31/2024
Other financial assets			1,491,995				(387,663	)			864				45				(783,066	)			322,175
Loans and other financing			134,462,419				42,547,327				13,480,711				28,223,436				(76,758,019	)			141,955,874
Other financial entities			58,214				8,188				260								(32,462	)			34,200
To the non-financial private sector and foreign residents
Overdrafts			18,055,062				5,413,926				(1,579,275	)			2,190,064				(10,095,928	)			13,983,849
Documents			8,179,554				2,102,781				(111,265	)			870,121				(4,653,819	)			6,387,372
Mortgage loans			12,261,060				1,485,437				992,163				2,247,815				(6,915,469	)			10,071,006
Pledge loans			876,593				1,313,643				261,829				43,518				(537,282	)			1,958,301
Personal loans			25,102,878				17,364,490				7,737,098				12,953,294				(14,988,883	)			48,168,877
Credit cards			26,796,659				9,080,195				6,750,314				14,152,237				(15,828,586	)			40,950,819
Financial leases			267,869				272,405				40,314				84,192				(157,098	)			507,682
Other			42,864,530				5,506,262				(610,727	)			(4,317,805	)			(23,548,492	)			19,893,768
Eventual commitments			5,281,517				6,166,486				757,178				(511	)			(3,152,061	)			9,052,609
Other debt securities			30,102				(5,901	)							(173	)			(17,334	)			6,694
Total allowances			141,266,033				48,320,249				14,238,753				28,222,797				(80,710,480	)			151,337,352

		Jorge Pablo Brito
	77	Chairperson

CONDENSED SEPARATE INTERIM STATEMENT OF FINANCIAL POSITION

AS OF JUNE 30, 2025 AND DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

Items		Notes		Exhibits		06/30/2025				12/31/2024
ASSETS
Cash and deposits in banks		8 and 26					2,358,686,736				3,012,050,270
Cash							366,733,325				478,854,044
Central Bank of Argentina							1,448,084,378				2,156,787,628
Other local and foreign entities							536,025,820				313,343,811
Other							7,843,213				63,064,787
Debt securities at fair value through profit or loss		8		A			584,505,232				662,258,281
Derivative financial instruments		8					1,386,891				22,195,032
Other financial assets		5, 7 and 8		R			371,563,292				511,572,235
Loans and other financing		6, 7 and 8		B, C, D and R			9,203,022,677				6,646,695,299
Non-financial public sector							117,709,713				80,494,871
Other financial entities							108,026,093				72,663,488
Non-financial private sector and foreign residents							8,977,286,871				6,493,536,940
Other debt securities		7 and 8		A and R			3,630,772,998				3,510,160,684
Financial assets delivered as guarantee		8 and 29					251,251,322				269,839,929
Current income tax assets		19									96,270,419
Equity instruments at fair value through profit or loss		8		A			24,212,294				8,904,954
Investments in subsidiaries, associates and joint ventures		10					223,965,677				318,512,181
Property, plant and equipment				F			909,952,150				905,997,490
Intangible assets				G			163,633,492				165,663,302
Other non-financial assets		11					126,083,019				109,321,640
Non-current assets held for sale							85,537,353				80,092,571
TOTAL ASSETS							17,934,573,133				16,319,534,287

		Jorge Pablo Brito
	78	Chairperson

CONDENSED SEPARATE INTERIM STATEMENT OF FINANCIAL POSITION

AS OF JUNE 30, 2025 AND DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

Items		Notes		Exhibits		06/30/2025				12/31/2024
LIABILITIES
Deposits		8 and 13		H and I			10,557,752,373				9,673,777,483
Non-financial public sector							877,424,074				740,879,453
Financial sector							13,440,608				13,362,616
Non-financial private sector and foreign residents							9,666,887,691				8,919,535,414
Liabilities at fair value through profit or loss											44,201
Derivative financial instruments		8		I			663,597				1,521,124
Repo transactions		8		I							21,818,577
Other financial liabilities		8 and 14		I			947,717,167				931,506,267
Financing received from the BCRA and other financial institutions		8		I			68,362,125				50,035,387
Issued corporate bonds		8 and 34		I			488,184,160				17,022,561
Current income tax liabilities		19					33,130,336
Subordinated corporate bonds		8 and 34		I			484,264,572				482,692,651
Provisions		15		J and R			17,478,264				19,456,881
Deferred income tax liabilities							174,117,880				91,042,461
Other non-financial liabilities		16					647,136,759				369,745,431
TOTAL LIABILITIES							13,418,807,233				11,658,663,024
SHAREHOLDERS’ EQUITY
Capital stock		27		K			639,413				639,413
Non-capitalized contributions							12,429,781				12,429,781
Capital adjustments							1,441,483,649				1,441,483,649
Earnings reserved							2,869,770,058				2,855,996,732
Unappropriated retained earnings							827,895				(11,543,379	)
Accumulated other comprehensive income							(6,068,228	)			(11,213,711	)
Net income of the period / fiscal year							196,683,332				373,078,778
TOTAL SHAREHOLDERS’ EQUITY							4,515,765,900				4,660,871,263
TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES							17,934,573,133				16,319,534,287

Notes 1 to 41 to the condensed separate interim Financial Statements and exhibits A to D, F to L, O, Q and R are an integral part of these condensed separate interim Financial Statements.

		Jorge Pablo Brito
	79	Chairperson

CONDENSED SEPARATE INTERIM STATEMENT OF INCOME

FOR THE THREE AND SIX MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

Items		Notes			Exhibits			Quarter ended 06/30/2025			Accumulated from beginning of year up to 06/30/2025			Quarter ended 06/30/2024 (1)			Accumulated from beginning of year up to 06/30/2024 (1)
Interest income						Q			1,086,240,073			2,002,324,613			862,153,204			2,039,672,575
Interest expense						Q			(390,099,069	)		(692,365,828	)		(598,825,185	)		(1,498,929,870	)
Net interest income									696,141,004			1,309,958,785			263,328,019			540,742,705
Commissions income			20			Q			173,738,293			346,647,472			153,169,882			288,744,852
Commissions expense						Q			(12,974,781	)		(26,702,807	)		(18,158,093	)		(31,258,572	)
Net commissions income									160,763,512			319,944,665			135,011,789			257,486,280
Subtotal (Net interest income plus Net commissions income)									856,904,516			1,629,903,450			398,339,808			798,228,985
Net gain from measurement of financial instruments at fair value through profit or loss						Q			90,186,329			131,137,874			150,204,875			2,194,334,853
Profit / (loss) from sold or derecognized assets at amortized cost									17,221			17,221			(5,518	)		29,721
Differences in quoted prices of gold and foreign currency			21						21,559,478			27,041,200			8,666,739			142,394,710
Other operating income			22						38,702,282			74,832,922			34,600,668			87,923,852
Credit loss expense on financial assets									(102,788,547	)		(172,507,662	)		(23,002,290	)		(53,999,780	)
Net operating income									904,581,279			1,690,425,005			568,804,282			3,168,912,341
Employee benefits			23						(171,938,914	)		(344,391,556	)		(183,531,081	)		(395,677,660	)
Administrative expenses			24						(94,375,141	)		(181,623,610	)		(87,513,537	)		(196,071,076	)
Depreciation and amortization of fixed assets						F and G			(37,941,744	)		(76,081,987	)		(36,964,911	)		(76,513,576	)
Other operating expenses			25						(184,939,057	)		(350,655,390	)		(179,605,958	)		(406,089,399	)
Operating income									415,386,423			737,672,462			81,188,795			2,094,560,630
Income from subsidiaries, associates and joint ventures			10						17,680,862			36,251,684			25,970,777			31,546,503
Loss on net monetary position									(197,936,971	)		(463,503,881	)		(622,652,253	)		(2,034,975,314	)
Income before tax on continuing operations									235,130,314			310,420,265			(515,492,681	)		91,131,819
Income tax on continuing operations			19.b)						(85,993,409	)		(113,736,933	)		198,916,510			51,570,924
Net income / (loss) from continuing operations									149,136,905			196,683,332			(316,576,171	)		142,702,743
Net income / (loss) of the period									149,136,905			196,683,332			(316,576,171	)		142,702,743

(1) The comparative figures were restated for the purposes of the merger with Banco BMA SAU. See also Note 1 to the condensed separate interim Financial Statements.

		Jorge Pablo Brito
	80	Chairperson

SEPARATE EARNINGS PER SHARE

FOR THE THREE AND SIX MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

Items		Quarter ended 06/30/2025				Accumulated from beginning of year up to 06/30/2025				Quarter ended 06/30/2024 (1)				Accumulated from beginning of year up to 06/30/2024 (1)
Net profit attributable to parent’s shareholders			149,136,905				196,683,332				(316,576,171	)			142,702,743
Plus: Potential dilutive effect inherent to common shares
Net profit attributable to parent’s shareholders adjusted for dilution			149,136,905				196,683,332				(316,576,171	)			142,702,743
Weighted average of outstanding common shares of the period			639,413				639,413				639,413				639,413
Plus: Weighted average of additional common shares with dilutive effects
Weighted average of outstanding common shares of the period adjusted for dilution			639,413				639,413				639,413				639,413
Basic earnings per share (in pesos)			233.2403				307.5998				(495.1044	)			223.1777

(1) The comparative figures were restated for the purposes of the merger with Banco BMA SAU. See also Note 1 to the condensed separate interim Financial Statements.

		Jorge Pablo Brito
	81	Chairperson

CONDENSED SEPARATE INTERIM STATEMENT OF OTHER COMPREHENSIVE INCOME

FOR THE THREE AND SIX MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

Items		Notes			Exhibits			Quarter ended 06/30/2025			Accumulated from beginning of year up to 06/30/2025			Quarter ended 06/30/2024 (1)			Accumulated from beginning of year up to 06/30/2024 (1)
Net income / (loss) of the period									149,136,905			196,683,332			(316,576,171	)		142,702,743
Items of Other Comprehensive Income that will be reclassified to profit or loss of the period
Foreign currency translation differences from Financial Statements conversion									2,529,029			322,930			(5,882,237	)		(29,129,725	)
Foreign currency translation differences of the period									2,529,029			322,930			(5,882,237	)		(29,129,725	)
Profit or loss from financial instruments measured at fair value through other comprehensive income (FVOCI) (IFRS 9(4.1.2)(a))									4,582,288			5,118,531			(61,605,323	)		(67,114,560	)
Profit or loss of the period from financial instruments at fair value through other comprehensive income (FVOCI)						Q			6,731,166			6,958,927			(94,038,024	)		(86,918,491	)
Reclassification of the period									318,507			915,736			(569,418	)		(15,604,331	)
Income tax			19.b)						(2,467,385	)		(2,756,132	)		33,002,119			35,408,262
Interest in other comprehensive (loss) / income of associates and joint ventures accounted for using the participation method									411,142			(295,978	)		628,439			5,074,720
Income / (loss) of the period from interest in other comprehensive income of subsidiaries, associates and joint ventures accounted for using the participation method									411,142			(295,978	)		628,439			5,074,720
Total other comprehensive income / (loss) that will be reclassified to profit or loss									7,522,459			5,145,483			(66,859,121	)		(91,169,565	)
Total other comprehensive income / (loss)									7,522,459			5,145,483			(66,859,121	)		(91,169,565	)
Total comprehensive income / (loss) of the period									156,659,364			201,828,815			(383,435,292	)		51,533,178

(1) The comparative figures were restated for the purposes of the merger with Banco BMA SAU. See also Note 1 to the condensed separate interim Financial Statements.

Notes 1 to 41 to the condensed separate interim Financial Statements and exhibits A to D, F to L, O, Q and R are an integral part of these condensed separate interim Financial Statements.

		Jorge Pablo Brito
	82	Chairperson

CONDENSED SEPARATE INTERIM STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY

FOR THE SIX MONTH PERIOD ENDED JUNE 30, 2025

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

					Capital stock			Non- capitalized contributions						Other Comprehensive Income						Earnings Reserved
Changes		Notes			Outstanding shares			Additional paid-in capital			Capital adjustments			Accumulated foreign currency translation difference from Financial Statements conversion			Other			Legal			Other		Unappropriated retained earnings			Total Equity
Restated amount at the beginning of the fiscal year						639,413			12,429,781			1,441,483,649			(4,574,263	)		(6,639,448	)		1,153,379,706		1,702,617,026			361,535,399			4,660,871,263
Total comprehensive income of the period
- Net income of the period																										196,683,332			196,683,332
- Other comprehensive income of the period															322,930			4,822,553											5,145,483
Distribution of unappropriated retained earnings, as approved by the shareholders’ meeting held on April 4, 2025
- Legal reserve																					71,963,874					(71,963,874	)
- Optional reserve for future distribution of earnings																							281,599,363			(281,599,363	)
- Dividends (1)																							(339,789,911	)					(339,789,911	)
- Personal assets tax on shares and equity interests																										(7,144,267	)		(7,144,267	)
Amount at the end of the period						639,413			12,429,781			1,441,483,649			(4,251,333	)		(1,816,895	)		1,225,343,580		1,644,426,478			197,511,227			4,515,765,900

(1) See Note 30 to the condensed consolidated interim Financial Statements.

CONDENSED SEPARATE INTERIM STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY

FOR THE SIX MONTH PERIOD ENDED JUNE 30, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

				Capital stock			Non- capitalized contributions						Other Comprehensive Income						Earnings Reserved
Changes		Notes		Outstanding shares			Additional paid-in capital			Capital adjustments			Accumulated foreign currency translation difference from Financial Statements conversion			Other			Legal			Other			Unappropriated retained earnings			Total Equity (1)
Restated amount at the beginning of the fiscal year					639,413			12,429,781			1,441,483,649			27,972,317			72,948,791			858,976,731			1,235,484,190			1,460,283,871			5,110,218,743
Total comprehensive income of the period
- Net income of the period																										142,702,743			142,702,743
- Other comprehensive loss of the period														(29,129,725	)		(62,039,840	)											(91,169,565	)
Distribution of unappropriated retained earnings, as approved by the shareholders’ meeting held on April 12, 2024
- Legal reserve																				294,402,975						(294,402,975	)
- Optional reserve for future distribution of earnings																							1,174,784,757			(1,174,784,757	)
- Dividends																							(707,651,921	)					(707,651,921	)
- Personal assets tax on shares and equity interests																										(2,639,518	)		(2,639,518	)
Amount at the end of the period					639,413			12,429,781			1,441,483,649			(1,157,408	)		10,908,951			1,153,379,706			1,702,617,026			131,159,364			4,451,460,482

(1) The comparative figures were restated for the purposes of the merger with Banco BMA SAU. See also Note 1 to the condensed separate interim Financial Statements.

(2) See Note 30 to the condensed consolidated interim Financial Statements.

Notes 1 to 41 to the condensed separate interim Financial Statements and exhibits A to D, F to L, O, Q and R are an integral part of these condensed separate interim Financial Statements.

		Jorge Pablo Brito
	83	Chairperson

CONDENSED SEPARATE INTERIM STATEMENT OF CASH FLOWS

FOR THE SIX MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

Items			Notes				06/30/2025				06/30/2024(1)
Cash flows from operating activities
Income of the period before income tax							310,420,265				91,131,819
Adjustment for the total monetary effect of the period							463,503,881				2,034,975,314
Adjustments to obtain cash flows from operating activities:
Amortization and depreciation							76,081,987				76,513,576
Credit loss expense on financial assets							172,507,662				53,999,780
Difference in quoted prices of foreign currency							(166,829,469	)			(84,247,221	)
Other adjustments							(48,443,153	)			(1,776,679,692	)
Net increase / decrease from operating assets:
Debt securities at fair value through profit or loss							(23,787,808	)			(2,101,493,910	)
Derivative financial instruments							20,808,141				(32,253,907	)
Repo transactions											1,542,891,355
Loans and other financing
Non-financial public sector							(37,214,842	)			(51,011,019	)
Other financial entities							(35,362,605	)			(25,561,966	)
Non-financial private sector and foreign residents							(2,656,257,593	)			(266,974,319	)
Other debt securities							(120,612,314	)			146,775,959
Financial assets delivered as guarantee							18,588,607				95,390,596
Equity instruments at fair value through profit or loss							(15,307,340	)			(1,414,985	)
Other assets							211,695,669				77,781,362
Net increase / decrease from operating liabilities:
Deposits
Non-financial public sector							136,544,621				640,633,710
Financial sector							77,992				(33,919,396	)
Non-financial private sector and foreign residents							747,352,277				428,613,394
Liabilities at fair value through profit or loss							(44,201	)			(19,462	)
Derivative financial instruments							(857,527	)			(6,648,247	)
Repo transactions							(21,818,577	)			(59,154,202	)
Other liabilities							(17,107,859	)			(153,132,953	)
Income tax payments											(309,349,502	)
Total cash used in operating activities (A)							(986,062,186	)			286,846,084

(1) The comparative figures were restated for the purposes of the merger with Banco BMA SAU. See also Note 1 to the condensed separate interim Financial Statements.

		Jorge Pablo Brito
	84	Chairperson

CONDENSED SEPARATE INTERIM STATEMENT OF CASH FLOWS

FOR THE SIX MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

Items			Notes				06/30/2025				06/30/2024 (1)
Cash flows from investing activities
Payments:
Acquisition of PPE, intangible assets and other assets							(77,983,133	)			(65,407,914	)
Total cash used in investing activities (B)							(77,983,133	)			(65,407,914	)
Cash flows from financing activities
Payments:
Dividends			37				(33,978,991	)			(357,400,577	)
Non-subordinated corporate bonds							(240,838	)			(29,732,735	)
Financing from local financial entities											(14,473,581	)
Subordinated corporate bonds							(15,911,035	)			(17,051,484	)
Other payments related to financing activities							(5,379,837	)			(4,175,188	)
Collections / Incomes:
Non-subordinated corporate bonds							460,024,543
Financing from local financial entities							17,025,933
Total cash used in financing activities (C)							421,539,775				(422,833,565	)
Effect of exchange rate fluctuations (D)							255,442,645				168,625,189
Monetary effect on cash and cash equivalents (E)							(367,841,492	)			(1,071,083,344	)
Net decrease in cash and cash equivalents (A+B+C+D+E)							(754,904,391	)			(1,103,853,550	)
Cash and cash equivalents at the beginning of the fiscal year			26				3,128,525,873				3,244,031,539
Cash and cash equivalents at the end of the period			26				2,373,621,482				2,140,177,989

(1) The comparative figures were restated for the purposes of the merger with Banco BMA SAU. See also Note 1 to the condensed separate interim Financial Statements.

Notes 1 to 41 to the condensed separate interim Financial Statements and exhibits A to D, F to L, O, Q and R are an integral part of these condensed separate interim Financial Statements.

		Jorge Pablo Brito
	85	Chairperson

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

1. CORPORATE INFORMATION

Banco Macro SA (hereinafter, the “Bank”) is a business corporation (sociedad anónima) organized in the Argentine Republic that offers traditional banking products and services to companies, including those companies operating in regional economies as well as to individuals, thus strengthening its goal to be a multiservice bank. In addition, the Bank performs certain transactions through its subsidiaries Macro Bank Limited (a company organized under the laws of Bahamas), Macro Securities SAU, Macro Fiducia SAU, Macro Fondos SGFCISA, Argenpay SAU, Fintech SGR and Alianza SGR.

Macro Compañía Financiera SA was created in 1977 as a non-banking financial institution. In May 1988, it received the authorization to operate as a commercial bank and was incorporated as Banco Macro SA. Subsequently, as a result of the merger process with other entities, it adopted other names (among them, Banco Macro Bansud SA) and since August 2006, Banco Macro SA.

The Bank’s shares are publicly listed on Bolsas y Mercados Argentinos (BYMA, for its acronym in Spanish) since November 1994 and as from March 24, 2006, they are listed on the New York Stock Exchange (NYSE). Additionally, on October 15, 2015 they were authorized to be listed on A3 Mercados SA (former Mercado Abierto Electrónico SA (MAE, for its acronym in Spanish)).

Since 1994, Banco Macro SA’s market strategy has mainly focused on the regional areas outside the Autonomous City of Buenos Aires (CABA, for its acronym in Spanish). Following this strategy, in 1996, Banco Macro SA started the process to acquire entities and assets and liabilities during the privatization of provincial banks and other banking institutions.

In 2001, 2004, 2006 and 2010, the Bank acquired the control of Banco Bansud SA, Nuevo Banco Suquía SA, Nuevo Banco Bisel SA and Banco Privado de Inversiones SA, respectively. Such entities merged with and into Banco Macro SA in December 2003, October 2007, August 2009 and December 2013, respectively. During the fiscal year 2006, the Bank acquired the control of Banco del Tucumán SA, which was merged with Banco Macro SA in October 2019. Additionally, on October 1, 2021, the Bank acquired the control of Fintech SGR that, as explained in Note 3 to the consolidated Financial Statements as of December 31, 2024, already issued, is a structured entity in which the Bank has control.

On May 18, 2023, Banco Macro SA acquired 100% of the capital stock of Macro Agro SAU (formerly known as Comercio Interior SAU). The main purpose of this company is grain brokerage. See also Note 9.

Additionally, on November 2, 2023, the Board of Directors of the Central Bank of Argentina (BCRA, for its acronym in Spanish), authorized the acquisition by Banco Macro SA of 100% of the capital stock of Banco Itaú Argentina SA, Itaú Asset Management SA and Itaú Valores SA.

On the other hand, on November 19, 2024, the BCRA authorized Banco Macro SA, under the terms of section 7 of the Financial Institutions Law, to merge by absorption, as absorbing entity, with Banco BMA SAU.

On January 1, 2025, Banco Macro SA acquired the control of Alianza SGR. The main purpose of this company is the granting of guarantees.

On August 27, 2025, the Board of Directors approved the issuance of these condensed separate interim Financial Statements.

2. OPERATIONS OF THE BANK

Note 2 to the condensed consolidated interim Financial Statements includes a detailed description of the agreements that relate the Bank with the provincial and municipal Governments.

86

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

3. BASIS FOR THE PREPARATION OF THESE FINANCIAL STATEMENTS AND APPLICABLE ACCOUNTING STANDARDS

Applicable Accounting Standards

These condensed separate interim Financial Statements of the Bank were prepared in accordance with the accounting framework established by the BCRA, in its Communiqué “A” 6114 as supplemented. Except for the regulatory provisions established by the BCRA, which are explained in the following paragraph, such framework is based on IFRS Accounting Standards (International Financial Reporting Standards) as issued by the IASB (International Accounting Standards Board) and adopted by the Argentine Federation of Professionals Councils in Economic Sciences (FACPCE, for its acronym in Spanish). The abovementioned international standards include the International Financial Reporting Standards (IFRS), the International Accounting Standards (IAS) and the interpretations developed by the IFRS Interpretations Committee (IFRIC) or former Standing Interpretations Committee (SIC).

The transitory exceptions established by BCRA to the application of effective IFRS Accounting Standards as issued by the IASB that affect the preparation of these condensed separate interim Financial Statements are as follows:

a) According to Communiqué “A” 6114, as amended and supplemented, and in the convergence process through IFRS Accounting Standards as issued by the IASB, the BCRA established that since fiscal years beginning on or after January 1, 2020, financial institutions defined as “Group A” by BCRA rules, in which the Bank is included, begin to apply section 5.5 “Impairment” of the IFRS 9 “Financial Instruments” (sections B5.5.1 to B5.5.55), except for the temporary exclusion for the public sector established by Communiqué “A” 6847. As of the date of issuance of these condensed separate interim Financial Statements, the Bank is in the process of quantifying the effect of the full application of the abovementioned standard.

b) Through Communiqué “A 7014 dated May 14, 2020, the BCRA established for financial institutions that received debt securities of the public sector in a swap transaction, they must be initially recognized at their carrying amount as of the date of the swap transaction, without assessing if they qualify or not for derecognition under IFRS 9 standards and as a consequence, do not eventually recognize the new instruments at the market value as provided by such IFRS (see Note 9 to the condensed consolidated interim Financial Statements).

If IFRS 9 had been applied, according to an estimation calculated by the Bank, the Statement of income of the six-month period ended June 30, 2025, would have recorded an increase in “Interest income” for an amount of 29,656, in “Loss on net monetary position” for an amount of 23,925 and in “Income tax on continuing operations” for an amount of 120,033 and, on the other hand, a decrease in “Net gain from measurement of financial instruments at fair value through profit or loss” for an amount of 372,608, and as a counterpart an increase in “Other comprehensive income” for that period. In addition, it would have been recorded in the Statement of income of the six-month period ended June 30, 2024 a decrease in “Interest income” for an amount of 97,320 and, on the other hand, an increase in “Loss on net monetary position” for an amount of 9,132 and in “Net gain from measurement of financial instruments at fair value through profit or loss” for an amount of 108,867, and as a counterpart an increase in “Other comprehensive income” for that period. These changes would not have resulted into modifications to the total shareholder equity as of those dates or the total comprehensive income of the six-month periods ended June 30, 2025 and 2024.

Except for what was mentioned in the previous paragraphs, the accounting policies applied by the Bank comply with the IFRS Accounting Standards as issued by the IASB as currently approved and are applicable to the preparation of these condensed separate interim Financial Statements in accordance with the IFRS Accounting Standards as issued by the IASB as adopted by the BCRA through Communiqué “A” 8164. Generally, the BCRA does not allow the anticipated application of any IFRS Accounting Standards, unless otherwise expressly stated.

Applicable Accounting Policies

Note 3 to the consolidated Financial Statements as of December 31, 2024, already issued, presents further detailed descriptions of the basis for the presentation of such Financial Statements and the main accounting policies used and the relevant information of the subsidiaries. All that is explained therein shall apply to these condensed separate interim Financial Statements, except for the goodwill generated by the business combination, as mentioned in Note 9, which according to BCRA Communiqué “A” 6618, in the condensed separate interim Financial Statements, is included in the net investment of the subsidiary.

87

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

Going concern

The Bank’s Management has made an assessment of its ability to continue as a going concern and is satisfied that it has the resources to continue in business for the foreseeable future. Furthermore, management is not aware of any material uncertainties that may cast significant doubt on the Bank’s ability to continue as a going concern. Therefore, these condensed separate interim Financial Statements were prepared on the going concern basis.

Subsidiaries

As mentioned in Note 1, the Bank performs certain transactions through its subsidiaries.

Subsidiaries are all the entities controlled by the Bank. An entity controls another entity when it is exposed, or has rights, to variable returns from its continuing involvement with such other entity and has the ability to use its power to direct the operating and financing policies of such other entity, to affect the amounts of such returns.

As provided under IAS 27 “Separate Financial Statements”, investments in subsidiaries were accounted for using the “equity method”, established in IAS 28 “Investments in associates and joint ventures”. When using this method, investments are initially recognized at cost, and such amount increases or decreases to recognize investor’s interest in profit and loss of the entity after the date of acquisition or creation.

Shares in profit and loss of subsidiaries and associates are recognized under “Income from subsidiaries, associates and joint ventures” in the condensed separate interim statement of income. Ownership interest in other comprehensive income of subsidiaries is accounted for under “Income of the period from interest in other comprehensive income of subsidiaries, associates and joint ventures accounted for using the equity method”, in the condensed separate interim Statement of other comprehensive income.

Transcription into books

As of the date of issuance of these condensed separate interim Financial Statements, they are in the process of being transcribed into the Financial Statements book (“Libro Balance”) of Banco Macro SA.

Standards amendments adopted in the fiscal year

Standards amendments adopted are described in Note 3 to the condensed consolidated interim Financial Statements.

New pronouncements

New pronouncements are described in Note 3 to the condensed consolidated interim Financial Statements.

4. CONTINGENT TRANSACTIONS

In order to meet specific financial needs of customers, the Bank’s credit policy also includes, among others, the granting of guarantees, securities, bonds, letters of credit and documentary credits. The Bank is also exposed to overdrafts and unused agreed credits on credit cards of the Bank. Since they imply a contingent obligation for the Bank, they expose the Bank to credit risks other than those recognized in the Statement of financial position and, therefore, they are an integral part of the total risk of the Bank.

As of June 30, 2025 and December 31, 2024, the Bank maintains the following maximum exposures to credit risk related to this type of transactions:

Composition		06/30/2025				12/31/2024
Undrawn commitments of credit cards and checking accounts			5,164,021,633				4,611,857,941
Guarantees granted (1)			139,198,307				214,590,899
Overdraft and unused agreed commitments (1)			65,739,281				53,409,756
Subtotal			5,368,959,221				4,879,858,596
Less: Allowance for Expected Credit Losses (ECL)			(8,215,221	)			(8,861,789	)
Total			5,360,744,000				4,870,996,807

(1) Includes transactions not covered by BCRA debtor classification standard. The Guarantees granted include an amount of 2,728,635 and 952,734, as of June 30, 2025 and December 31, 2024, respectively. The Overdraft and unused agreed commitments include an amount of 13,017,281 and 915,054, as of June 30, 2025 and December 31, 2024, respectively.

88

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

Risks related to the abovementioned contingent transactions have been assessed and are controlled within the framework of the Bank’s credit risk policy, as described in Note 44 to the consolidated Financial Statements as of December 31, 2024, already issued.

5. OTHER FINANCIAL ASSETS

The composition of the other financial assets as of June 30, 2025 and December 31, 2024 is as follows:

Composition		06/30/2025				12/31/2024
Sundry debtors			185,654,914				180,192,032
Receivables from spot sales of government securities pending settlement			181,739,425				328,871,582
Receivables from spot sales of foreign currency pending settlement			984,175
Private securities			446,326				213,108
Other			2,767,871				2,583,764
Subtotal			371,592,711				511,860,486
Less: Allowances for ECL			(29,419	)			(288,251	)
Total			371,563,292				511,572,235

Disclosures related to allowance for ECL are detailed in Note 7 “Loss allowance for expected credit losses on credit exposures not measured at fair value through profit or loss”.

6. LOANS AND OTHER FINANCING

The composition of loans and other financing as of June 30, 2025 and December 31, 2024 is as follows:

Composition		06/30/2025				12/31/2024
Non-financial public sector (1)			117,709,713				80,494,871
Other financial entities			108,026,093				72,663,488
Other financial entities			108,084,061				72,697,688
Less: allowance for ECL			(57,968	)			(34,200	)
Non-financial private sector and foreign residents			8,977,286,871				6,493,536,940
Overdrafts			1,659,144,124				622,829,719
Documents			1,493,780,935				1,172,102,672
Mortgage loans			714,359,389				580,171,475
Pledge loans			219,350,895				141,128,524
Personal loans			1,909,512,337				1,327,303,728
Credit cards			1,655,121,033				1,586,684,047
Financial leases			17,762,952				18,932,315
Other			1,580,628,043				1,186,019,914
Less: allowance for ECL			(272,372,837	)			(141,635,454	)
Total			9,203,022,677				6,646,695,299

(1) As explained in Note 3, ECL is not calculated to public sector exposures.

89

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

7. LOSS ALLOWANCE FOR EXPECTED CREDIT LOSSES ON CREDIT EXPOSURES NOT MEASURED AT FAIR VALUE THROUGH PROFIT OR LOSS

Note 8 to the condensed consolidated interim Financial Statements, details the allowances recognized by the Bank under this concept.

Additionally, exhibit R “Value adjustment for credit losses – Allowances for uncollectibility risk”, the ECL movements at sector and product level are also disclosed.

8. FAIR VALUE QUANTITATIVE AND QUALITATIVE DISCLOSURES

Note 10 to the condensed consolidated interim Financial Statements describes the methods and assumptions used to determine the fair value, both of the financial instruments recognized at fair value as of those not accounted for at such fair value in these condensed separate interim Financial Statements.

In addition, the Bank discloses the relevant information as to instruments included in Level 3 of the fair value hierarchy.

Even though the Bank’s Management has used its best judgment to estimate the fair values of its financial instruments, any technique to perform such estimate implies certain inherent fragility level.

Fair value hierarchy

The Bank uses the following hierarchy to determine and disclose the fair value of financial instruments, according to the valuation technique applied:

- Level 1: quoted prices (unadjusted) observable in active markets that the Bank accesses to at the measurement day for identical assets or liabilities. The Bank considers markets as active only if there are sufficient trading activities with respect to the volume and liquidity of the identical assets or liabilities and when there are binding and exercisable price quotes available at each period or fiscal year, as applicable.

- Level 2: Valuation techniques for which the data and variables having a significant impact on the determination of the fair value recognized or disclosed are observable for the asset or liability, either directly or indirectly. Such inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical instruments in inactive markets and observable inputs other than quoted prices, such as interest rates and yield curves, implied volatilities, and credit spreads. In addition, adjustments to level 2 inputs may be required for the condition or location of the asset or the extent to which it relates to items that are comparable to the valued instrument. However, if such adjustments are based on unobservable inputs that are significant to the entire measurement, the Bank will classify the instruments as Level 3.

- Level 3: Valuation techniques for which the data and variables having a significant impact on the determination of the fair value recognized or disclosed are not based on observable market information.

The following tables show the hierarchy in the Bank’s financial asset and liability at fair value measurement, as of June 30, 2025 and December 31, 2024:

		Financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2025
Description		Total				Level 1				Level 2				Level 3
Financial assets
At fair value through profit or loss
Debt securities at fair value through profit or loss			584,505,232				556,424,157				25,686,243				2,394,832
Derivatives instruments			1,386,891				1,152,770				234,121
Other financial assets			446,326												446,326
Equity instruments at fair value through profit or loss			24,212,294				20,536,668								3,675,626
At fair value through OCI
Other debt securities			186,249,221				186,249,221
Total			796,799,964				764,362,816				25,920,364				6,516,784

90

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

Financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2025

Description

Total

Level 1

Level 2

Level 3

Financial liabilities

At fair value through profit or loss

Derivatives instruments

663,597

150,436

513,161

Total

663,597

150,436

513,161

		Financial assets and financial liabilities measured at fair value on a recurring basis as of December 31, 2024
Description		Total				Level 1				Level 2				Level 3
Financial assets
At fair value through profit or loss
Debt securities at fair value through profit or loss			662,258,281				632,476,323				25,887,519				3,894,439
Derivatives instruments (1)			22,195,032				38,548				22,156,484
Other financial assets			213,108												213,108
Financial assets delivered as guarantee			1,084,431				1,084,431
Equity instruments at fair value through profit or loss			8,904,954				1,401,889								7,503,065
At fair value through OCI
Other debt securities			416,621,454				416,621,454
Total			1,111,277,260				1,051,622,645				48,044,003				11,610,612
Financial liabilities
At fair value through profit or loss
Liabilities at fair value through profit or loss			44,201				44,201
Derivatives instruments			1,521,124				107,015				1,414,109
Total			1,565,325				151,216				1,414,109

(1) Includes the premium corresponding to the subscription of put options.

Below is the reconciliation between the amounts at the beginning and the end of the reporting period of the financial assets recognized at fair value, categorized as level 3:

		As of June 30, 2025
Reconciliation		Debt instruments				Other financial assets				Equity instruments at fair value through profit or loss
Amount at the beginning of the fiscal year			3,894,439				213,108				7,503,065
Transfers from level 3											(4,815,592	)
Profit and loss			1,951,142				66,108				1,644,251
Recognition and derecognition			(2,302,858	)			219,187
Monetary effect			(1,147,891	)			(52,077	)			(656,098	)
Amount at the end of the period			2,394,832				446,326				3,675,626

91

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

		As of December 31, 2024
Reconciliation		Debt instruments				Other financial assets				Equity instruments at fair value through profit or loss
Amount at the beginning of the fiscal year			17,585				158,909				5,159,551
Profit and loss			597,330				(247,636	)			6,171,665
Recognition and derecognition			3,697,320				519,773
Monetary effect			(417,796	)			(217,938	)			(3,828,151	)
Amount at the end of the fiscal year			3,894,439				213,108				7,503,065

Note 10 to the condensed consolidated interim Financial Statements, details the valuation techniques and significant unobservable inputs used in the valuation of assets at Level 3.

Changes in fair value levels

The Bank monitors the availability of information in the market to evaluate the classification of financial instruments into the fair value hierarchy as well as the resulting determination of transfers between levels 1, 2 and 3 at each period end.

Except for the foregoing, as of June 30, 2025 and December 31, 2024, the Bank has not recognized any transfers between levels 1, 2 and 3.

Financial assets and liabilities not measured at fair value

The following table shows a comparison between the fair value and the carrying amount of financial instruments not recognized at fair value as of June 30, 2025 and December 31, 2024:

		06/30/2025
Composition		Carrying amount				Level 1				Level 2				Level 3				Fair value
Financial assets
Cash and deposits in banks			2,358,686,736				2,358,686,736												2,358,686,736
Other financial assets			371,116,966				371,116,966												371,116,966
Loans and other financing			9,203,022,677												8,521,051,072				8,521,051,072
Other debt securities			3,444,523,777				3,025,588,667				114,871,656								3,140,460,323
Financial assets delivered as guarantee			251,251,322				251,251,322												251,251,322
Total			15,628,601,478				6,006,643,691				114,871,656				8,521,051,072				14,642,566,419
Financial liabilities
Deposits			10,557,752,373				5,184,393,769								5,383,724,054				10,568,117,823
Other financial liabilities			947,717,167				915,683,638				32,520,935								948,204,573
Financing received from the BCRA and other financial institutions			68,362,125				43,424,156				24,937,969								68,362,125
Issued corporate bonds			488,184,160								488,184,160								488,184,160
Subordinated corporate bonds			484,264,572								471,796,640								471,796,640
Total			12,546,280,397				6,143,501,563				1,017,439,704				5,383,724,054				12,544,665,321

92

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

		12/31/2024
Composition		Carrying amount				Level 1				Level 2				Level 3				Fair value
Financial assets
Cash and deposits in banks			3,012,050,270				3,012,050,270												3,012,050,270
Other financial assets			511,359,127				511,359,127												511,359,127
Loans and other financing			6,646,695,299												6,252,316,851				6,252,316,851
Other debt securities			3,093,539,230				2,843,122,861				70,757,205								2,913,880,066
Financial assets delivered as guarantee			268,755,498				268,755,498												268,755,498
Total			13,532,399,424				6,635,287,756				70,757,205				6,252,316,851				12,958,361,812
Financial liabilities
Deposits			9,673,777,483				6,359,174,951								3,333,659,371				9,692,834,322
Repo transactions			21,818,577				21,818,577												21,818,577
Other financial liabilities			931,506,267				904,743,394				31,959,735								936,703,129
Financing received from the BCRA and other financial institutions			50,035,387				47,848,784				2,186,603								50,035,387
Issued corporate bonds			17,022,561								17,022,561								17,022,561
Subordinated corporate bonds			482,692,651								465,068,580								465,068,580
Total			11,176,852,926				7,333,585,706				516,237,479				3,333,659,371				11,183,482,556

9. BUSINESS COMBINATIONS

9.1 Macro Agro SAU (formerly known as Comercio Interior SAU)

On May 18, 2023, the Bank acquired from Inversora Juramento SA, 100% of the capital stock and votes of Macro Agro SAU (formerly known as Comercio Interior SAU). Detailed information on this transaction is included in Note 11.1 to the condensed consolidated interim Financial Statements.

9.2 Banco BMA SAU (formerly known as Banco Itaú Argentina SA)

On August 23, 2023, Banco Macro SA entered into a stock purchase agreement with Itaú Unibanco Holding SA, through its affiliates Itaú Unibanco SA, Banco Itaú BBA SA and Itaú Consultoria de Valores Mobiliários e Participações SA (collectively, “Itaú”), pursuant to which, subject to certain conditions (substantially the approval of the transaction by the BCRA), the Bank would acquire from Itaú the shares representing 100% of the capital stock and votes of Banco Itaú Argentina SA, Itaú Asset Management SA and Itaú Valores SA.

On November 2, 2023, the Board of Directors of the BCRA authorized the abovementioned purchase. Detailed information on this transaction is included in Note 11.2 to the condensed consolidated interim Financial Statements.

10. INVESTMENTS IN SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES

The Bank’s interests in associates and joint ventures are disclosed in Note 12 to the condensed consolidated interim Financial Statements.

93

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS 

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

11. OTHER NON-FINANCIAL ASSETS

The composition of other non-financial assets as of June 30, 2025 and December 31, 2024 is as follows:

Composition		06/30/2025				12/31/2024
Investment property (see Exhibit F)			71,818,106				70,735,918
Advanced prepayments			27,150,474				27,045,727
Tax advances			27,061,177				10,989,094
Other			53,262				550,901
Total			126,083,019				109,321,640

12. RELATED PARTIES

A related party is a person or entity that is related to the Bank:

- has control or joint control of the Bank;

- has significant influence over the Bank;

- is a member of the key management personnel of the Bank or of a parent of the Bank;

- members of the same group;

- one entity is an associate (or an associate of a member of a group of which the other entity is a member).

Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Bank, directly or indirectly. The Bank considers as key management personnel, for the purposes of IAS 24, the members of the Board of Directors and the senior management members of the Risk Management Committee, the Assets and Liabilities Committee and the Senior Credit Committee.

As of June 30, 2025 and December 31, 2024, amounts balances related to transactions generated with related parties are as follows:

	As of June 30, 2025
	Main subsidiaries
		Macro Bank Limited			Macro Securities SAU (1)			Argenpay SAU			Fintech SGR			Macro Agro SAU (formerly known as Comercio Interior SAU)			Alianza SGR			Associates			Key management personnel (2)			Other related parties			Total
Assets
Cash and deposits in banks		10,105																											10,105
Derivative financial instruments																										13,210			13,210
Other financial assets											30,103,978						8,455,394												38,559,372
Loans and other financing (3)
Documents																										158,751			158,751
Overdrafts																				1			38,245			68,436,758			68,475,004
Credit cards																				184			852,484			271,516			1,124,184
Financial leases																										395,486			395,486
Mortgage loans																							818,401						818,401
Other (4)																							1,938,238			16,617,329			18,555,567
Guarantees granted																							1,791,125			16,663,462			18,454,587
Total assets		10,105									30,103,978						8,455,394			185			5,438,493			102,556,512			146,564,667

94

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

	As of June 30, 2025
	Main subsidiaries
		Macro Bank Limited			Macro Securities SAU (1)			Argenpay SAU			Fintech SGR			Macro Agro SAU (formerly known as Comercio Interior SAU)			Alianza SGR			Associates			Key   management personnel (2)			Other   related parties			Total
Liabilities
Deposits					73,623,927			5,452,881			1,152			25,573			1,406			209,588			15,689,532			21,607,844			116,611,903
Derivative financial instruments																										52,527			52,527
Other financial liabilities																							4,658			737,515			742,173
Issued corporate bonds					1,426,242						3,494,514						938,385												5,859,141
Subordinated corporate bonds					2,601,712									181,599															2,783,311
Other non-financial liabilities								39,621									62,495									3,300,221			3,402,337
Total liabilities					77,651,881			5,492,502			3,495,666			207,172			1,002,286			209,588			15,694,190			25,698,107			129,451,392

(1)	It includes the amounts from its subsidiary Macro Fondos SGFCISA.
(2)	Includes close family members of the key management personnel.
(3)	The maximum financing amount for Loans and other financing as of June 30, 2025 for Macro Agro SAU (formerly known as Comercio Interior SAU), Associates, Key management personnel and Other related parties amounted to 134, 1,508,150, 14,435,421 and 160,332,817, respectively.
(4)	It is related to Loans and other financing not disclosed in other items, mainly Other loans, Financing of foreign exchange transactions and Loans with government securities.

		As of December 31, 2024
		Main subsidiaries
		Macro Bank Limited				Macro Securities SAU (1)				Argenpay SAU				Fintech SGR				Macro Agro SAU (formerly known as Comercio Interior SAU)				Associates				Key management personnel (2)				Other related parties				Total
Assets
Cash and deposits in banks			10,057																																10,057
Derivative financial instruments																															13,877				13,877
Other financial assets															28,666,087																				28,666,087
Loans and other financing (3)
Documents																															590,680				590,680
Overdrafts																							4,385				673				35,442,674				35,447,732
Credit cards																							3,963				738,342				290,972				1,033,277
Financial leases																			281												41,412				41,693
Personal loans																											11,591								11,591
Mortgage loans																											832,037								832,037
Other (4)																											2,818,139				17,587,443				20,405,582
Guarantees granted																															33,278,074				33,278,074
Total assets			10,057												28,666,087				281				8,348				4,400,782				87,245,132				120,330,687

95

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

		As of December 31, 2024
		Main subsidiaries
		Macro Bank Limited				Macro Securities SAU (1)				Argenpay SAU				Fintech SGR				Macro Agro SAU (formerly known as Comercio Interior SAU)				Associates				Key management personnel (2)				Other related parties				Total
Liabilities
Deposits							83,336,733				1,660,471				3,921				6,420,041				364,640				22,162,239				12,555,595				126,503,640
Other financial liabilities																											5,967				777,799				783,766
Subordinated corporate bonds							181,010								1,598,920				181,010																1,960,940
Other non-financial liabilities															184,151																3,710,812				3,894,963
Total liabilities							83,517,743				1,660,471				1,786,992				6,601,051				364,640				22,168,206				17,044,206				133,143,309

(1)	It includes the amounts from its subsidiary Macro Fondos SGFCISA.
(2)	Includes close family members of the key management personnel.
(3)	The maximum financing amount for Loans and other financing as of December 31, 2024 for Macro Securities SAU, Macro Agro SAU (formerly known as Comercio Interior SAU), Associates, Key management personnel and Other related parties amounted to 14,346,680, 61,232, 1,037,945, 7,138,575 and 186,565,064, respectively.
(4)	It is related to Loans and other financing not disclosed in other items, mainly Other loans, Financing of foreign exchange transactions and Loans with government securities.

Profit or loss related to transactions generated during the six-month periods ended June 30, 2025 and 2024 with related parties are as follows:

		As of June 30, 2025
		Main subsidiaries
		Macro Bank Limited			Macro Securities SAU (1)			Argenpay SAU			Fintech SGR			Macro Agro SAU (formerly known as Comercio Interior SAU)			Alianza SGR			Associates			Key management personnel (2)			Other related parties			Total
Income / (loss)
Interest income						11									4,306						124,508			305,221			8,926,168			9,360,214
Interest expense						(1,725,530	)		(179,063	)					(714,408	)					(38,176	)		(1,186,208	)		(1,287,948	)		(5,131,333	)
Commissions income						202,291						3,470						778			4,076			294			157,306			368,215
Commissions expense												(103,156	)											(338	)		(65	)		(103,559	)
Net gain from measurement of financial instruments at fair value through profit or loss																											(33,871	)		(33,871	)
Other operating income									1,077			4,174,926			14,324			713,160			3,953			21,267			49,624			4,978,331
Administrative expense																					(4,816,884	)					(1,742,886	)		(6,559,770	)
Other operating expense																											(1,008,775	)		(1,008,775	)
Total income / (loss)						(1,523,228	)		(177,986	)		4,075,240			(695,778	)		713,938			(4,722,523	)		(859,764	)		5,059,553			1,869,452

(1)	It includes the amounts from its subsidiary Macro Fondos SGFCISA.
(2)	Includes close family members of the key management personnel.

96

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

		As of June 30, 2024
		Main subsidiaries
		Macro Bank Limited				Macro Securities SAU (1)				Argenpay SAU				Fintech SGR				Macro Agro SAU (formerly known as Comercio Interior SAU)				Associates				Key management personnel (2)				Other related parties				Total
Income / (loss)
Interest income							97,839												8,829				6				1,990,222				6,583,531				8,680,427
Interest expense																			(98,594	)			(61,371	)			(56,982	)			(1,458,089	)			(1,675,036	)
Commissions income							77,290								5,552								535				573				53,040				136,990
Commissions expense															(70,489	)							(74,958	)			(144	)							(145,591	)
Other operating income															5,168,247				7,628				2,227				16,870				29,408				5,224,380
Administrative expense																							(2,312,124	)							(1,645,775	)			(3,957,899	)
Other operating expense																															(781,942	)			(781,942	)
Total income / (loss)							175,129								5,103,310				(82,137	)			(2,445,685	)			1,950,539				2,780,173				7,481,329

(1)	It includes the amounts from its subsidiary Macro Fondos SGFCISA.
(2)	Includes close family members of the key management personnel.

Transactions generated by the Bank with its related parties for arranged transactions within the course of the usual and ordinary course of business were performed in normal market conditions, both as to interest rates and prices and as to the required guarantees.

The Bank does not have loans granted to Directors and other key management personnel secured with shares.

Total remunerations received as salary and bonus by the key management personnel as of June 30, 2025 and 2024 amounted to 3,869,618 and 3,999,471, respectively.

In addition, fees received by the Directors as of June 30, 2025 and 2024 amounted to 9,132,440 and 32,360,941, respectively.

Additionally, the composition of the Board of Directors and key management personnel is as follows:

Composition		06/30/2025				12/31/2024
Board of Directors			13			13
Senior managers of the key management personnel			9			9
Total			22			22

13. DEPOSITS

The composition of deposits as of June 30, 2025 and December 31, 2024 is as follows:

Composition		06/30/2025			12/31/2024
Non-financial public sector			877,424,074			740,879,453
Financial sector			13,440,608			13,362,616
Non-financial private sector and foreign residents			9,666,887,691			8,919,535,414
Checking accounts			988,787,418			1,086,613,724
Saving accounts			3,621,706,793			4,629,792,670
Time deposits			4,838,849,736			2,365,446,829
Investment accounts			94,473,687			717,091,917
Other			123,070,057			120,590,274
Total			10,557,752,373			9,673,777,483

97

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

14. OTHER FINANCIAL LIABILITIES

The composition of other financial liabilities as of June 30, 2025 and December 31, 2024 is as follows:

Composition		06/30/2025				12/31/2024
Credit and debit card settlement - due to merchants			726,899,113				703,623,407
Collections on account and behalf of others			69,382,912				43,897,933
Payment orders pending settlement foreign trade			63,915,455				49,072,728
Finance leases liabilities			19,067,244				16,066,282
Amounts payable for spot purchases of foreign currency pending settlement			9,226,468				63,475,360
Amounts payable for spot purchases of government securities pending settlement			3,701,730				5,622,595
Other			55,524,245				49,747,962
Total			947,717,167				931,506,267

15. PROVISIONS

This item includes the amounts estimated to face a liability of probable occurrence, which if occurring, would originate a loss for the Bank.

Exhibit J “Changes in provisions” presents the changes in provisions as of June 30, 2025 and December 31, 2024.

The expected terms to settle these obligations are as follows:

		06/30/2025
Composition		Within 12 months				Over 12 months				06/30/2025				12/31/2024
For administrative, disciplinary and criminal penalties							500				500				576
Letters of credits, guarantees and other commitments (1)			8,215,221								8,215,221				8,861,789
Commercial claims in progress (2)			2,828,457				513,336				3,341,793				5,077,141
Labor lawsuits			1,095,825				731,720				1,827,545				1,605,266
Pension funds - reimbursement			2,089,117				272,690				2,361,807				1,811,659
Other							1,731,398				1,731,398				2,100,450
Total			14,228,620				3,249,644				17,478,264				19,456,881

	(1)	These amounts correspond to the ECL calculated for contingent transactions, which are mentioned in Note 4.
	(2)	See also Note 36.2.

98

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

16. OTHER NON-FINANCIAL LIABILITIES

The composition of other non-financial liabilities as of June 30, 2025 and December 31, 2024 is as follows:

Composition		06/30/2025				12/31/2024
Dividends payable			305,810,921
Withholdings and collections			106,613,677				101,900,700
Salaries, bonuses and payroll taxes payables			102,653,141				140,289,077
Taxes payables			78,528,425				63,481,377
Miscellaneous payables - provisions of goods and services			35,664,159				45,553,163
Retirement pension payment orders pending settlement			9,233,515				9,036,409
Directors’ and syndics’ fees payable			5,054,520				6,564,821
Other			3,578,401				2,919,884
Total			647,136,759				369,745,431

17. ANALYSIS OF FINANCIAL ASSETS TO BE RECOVERED AND FINANCIAL LIABILITIES TO BE SETTLED

The following tables show the analysis of financial assets and liabilities the Bank expects to recover and settle as of June 30, 2025 and December 31, 2024:

06/30/2025		Without due date				Total up to 12 months				Total over 12 months
Assets
Cash and deposits in banks			2,358,686,736
Debt securities at fair value through profit or loss							301,500,349				283,004,883
Derivative financial instruments							1,386,891
Other financial assets			95,634,805				225,660,732				50,267,755
Loans and other financing (1)			18,329,207				6,681,195,153				2,503,498,317
Other debt securities							635,771,623				2,995,001,375
Financial assets delivered as guarantee			251,251,322
Equity instruments at fair value through profit or loss			24,212,294
Total Assets			2,748,114,364				7,845,514,748				5,831,772,330
Liabilities
Deposits			5,125,125,190				5,428,528,312				4,098,871
Derivative financial instruments							663,597
Other financial liabilities							917,462,274				30,254,893
Financing received from the BCRA and other financial institutions							67,884,045				478,080
Issued corporate bonds							18,555,481				469,628,679
Subordinated corporate bonds							6,631,252				477,633,320
Total Liabilities			5,125,125,190				6,439,724,961				982,093,843

(1) The amounts included in “without due date” are related to the non-performing portfolio.

99

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

12/31/2024		Without due date				Total up to 12 months				Total over 12 months
Assets
Cash and deposits in banks			3,012,050,270
Debt securities at fair value through profit or loss							607,706,509				54,551,772
Derivative financial instruments							22,195,032
Other financial assets			85,581,819				372,686,228				53,304,188
Loans and other financing (1)			1,658,090				4,803,757,723				1,841,279,486
Other debt securities							644,777,481				2,865,383,203
Financial assets delivered as guarantee			243,331,200				26,508,729
Equity instruments at fair value through profit or loss			8,904,954
Total Assets			3,351,526,333				6,477,631,702				4,814,518,649
Liabilities
Deposits			6,302,946,596				3,370,670,057				160,830
Financial liabilities at fair value through profit or loss							44,201
Derivative financial instruments							1,521,124
Repo transactions							21,818,577
Other financial liabilities							913,248,932				18,257,335
Financing received from the BCRA and other financial institutions							49,623,661				411,726
Issued corporate bonds							17,022,561
Subordinated corporate bonds							7,342,241				475,350,410
Total Liabilities			6,302,946,596				4,381,291,354				494,180,301

(1) The amounts included in “without due date” are related to the non-performing portfolio.

18. DISCLOSURES BY OPERATING SEGMENT

The Bank has an approach of its banking business that is described in Note 20 to the condensed consolidated interim Financial Statements.

19. INCOME TAX

a) Inflation adjustment on income tax and corporate income tax rate

Note 21 to the condensed consolidated interim Financial Statements summarizes the legal aspects of the inflation adjustment on income tax and the corporate income tax rate.

100 

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

b) The main items of income tax expense in the condensed separate interim Financial Statements are as follows:

		06/30/2025						06/30/2024
Composition		Quarter ended 06/30/2025			Accumulated from beginning of year up to 06/30/2025			Quarter ended 06/30/2024			Accumulated from beginning of year up to 06/30/2024
Expense / (profit) from current income tax (1)			30,809,617			30,661,514			(152,417,963	)		10,357,435
Expense / (profit) from deferred income tax			55,183,792			83,075,419			(46,498,547	)		(61,928,359	)
Expense / (profit) from income tax recognized in the statement of income			85,993,409			113,736,933			(198,916,510	)		(51,570,924	)
Expense / (profit) from income tax recognized in other comprehensive income			2,467,385			2,756,132			(33,002,119	)		(35,408,262	)
Total			88,460,794			116,493,065			(231,918,629	)		(86,979,186	)

(1) Includes the restatement in constant currency of the current tax charge generated during the year, the adjustments recognized in the current year for previous periods and the effects of including in the OCI the applicable portion of the current tax.

Note 21 to the condensed consolidated interim Financial Statements describes the reimbursement actions filed by the Bank with the former AFIP, referred to income tax, for previous fiscal periods.

20. COMMISSIONS INCOME

		06/30/2025						06/30/2024
Composition		Quarter ended 06/30/2025			Accumulated from beginning of year up to 06/30/2025			Quarter ended 06/30/2024			Accumulated from beginning of year up to 06/30/2024
Performance obligations satisfied at a point in time
Commissions related to obligations			97,920,558			193,497,239			82,608,938			153,568,812
Commissions related to credit cards			48,805,055			100,623,305			47,662,002			93,018,567
Commissions related to insurance			12,799,689			25,780,843			7,880,577			13,880,337
Commissions related to trading and foreign exchange transactions			5,985,226			11,175,043			4,898,658			9,561,124
Commissions related to loans			4,467,522			7,735,164			5,231,695			6,905,392
Commissions related to securities value			2,128,668			4,664,365			2,044,451			3,968,999
Commissions related to financial guarantees granted			314,506			488,731			1,835,636			4,026,630
Performance obligations satisfied over certain time period
Commissions related to credit cards			810,560			1,678,269			625,385			1,289,614
Commissions related to trading and foreign exchange transactions			472,957			939,873			345,154			2,482,389
Commissions related to loans			28,947			59,700			37,049			42,770
Commissions related to obligations			4,605			4,940			337			218
Total			173,738,293			346,647,472			153,169,882			288,744,852

101 

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

21. DIFFERENCES IN QUOTED PRICES OF GOLD AND FOREIGN CURRENCY

		06/30/2025						06/30/2024
Composition		Quarter ended 06/30/2025			Accumulated from beginning of year up to 06/30/2025			Quarter ended 06/30/2024			Accumulated from beginning of year up to 06/30/2024
Income from foreign currency exchange			12,744,661			13,024,324			154,578			486,688
Translation of foreign currency assets and liabilities into pesos			8,814,817			14,016,876			8,512,161			141,908,022
Total			21,559,478			27,041,200			8,666,739			142,394,710

22. OTHER OPERATING INCOME

		06/30/2025						06/30/2024
Composition		Quarter ended 06/30/2025			Accumulated from beginning of year up to 06/30/2025			Quarter ended 06/30/2024			Accumulated from beginning of year up to 06/30/2024
Services			21,164,578			33,545,877			7,775,852			18,166,579
Adjustments and interest from other receivables			7,774,562			18,210,897			7,173,549			21,898,345
Other receivables from financial intermediation			1,053,898			1,863,617			1,634,190			5,263,238
Adjustments from other receivables with CER clauses			839,485			1,856,289			6,257,395			17,625,868
Other			7,869,759			19,356,242			11,759,682			24,969,822
Total			38,702,282			74,832,922			34,600,668			87,923,852

23. EMPLOYEE BENEFITS

		06/30/2025						06/30/2024
Composition		Quarter ended 06/30/2025			Accumulated from beginning of year up to 06/30/2025			Quarter ended 06/30/2024			Accumulated from beginning of year up to 06/30/2024
Remunerations			122,704,750			237,963,790			126,715,347			274,101,628
Payroll taxes			28,313,420			58,265,971			31,557,345			66,544,116
Compensations and bonuses to employees			13,226,238			32,685,556			19,825,441			44,277,543
Employee services			7,694,506			15,476,239			5,432,948			10,754,373
Total			171,938,914			344,391,556			183,531,081			395,677,660

102 

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

24. ADMINISTRATIVE EXPENSES

		06/30/2025						06/30/2024
Composition		Quarter ended 06/30/2025			Accumulated from beginning of year up to 06/30/2025			Quarter ended 06/30/2024			Accumulated from beginning of year up to 06/30/2024
Taxes			13,831,596			28,634,864			25,219,926			43,876,344
Maintenance, conservation and repair expenses			12,838,506			24,730,688			15,109,627			30,649,868
Security services			10,165,067			20,270,944			8,395,873			15,029,009
Other fees			9,916,173			19,677,812			10,395,967			19,251,528
Armored truck, documentation and events			8,730,656			18,733,554			9,694,128			18,235,180
Software			7,981,328			16,497,869			4,214,039			8,474,610
Electricity and communications			7,793,007			15,929,247			8,885,198			17,289,740
Advertising and publicity			7,702,221			12,442,390			5,725,874			10,268,460
Fees to directors and syndics			6,236,385			8,264,544			(13,168,113	)		5,434,346
Hired administrative services			3,283,082			4,846,715			7,469,539			12,179,588
Representation, travel and transportation			1,904,289			3,488,740			1,639,059			2,744,373
Insurance			1,338,241			2,528,798			1,235,162			1,758,703
Stationery and office supplies			347,052			731,405			596,523			1,188,118
Leases			184,456			677,909			315,832			1,031,708
Other			2,123,082			4,168,131			1,784,903			8,659,501
Total			94,375,141			181,623,610			87,513,537			196,071,076

25. OTHER OPERATING EXPENSES

		06/30/2025						06/30/2024
Composition		Quarter ended 06/30/2025			Accumulated from beginning of year up to 06/30/2025			Quarter ended 06/30/2024			Accumulated from beginning of year up to 06/30/2024
Turnover tax			111,054,030			208,066,248			83,823,229			235,275,964
From credit cards			40,293,491			77,791,187			46,693,931			90,747,081
Deposit guarantee fund contributions			3,970,759			8,233,656			3,274,120			6,063,007
Charges for other provisions			3,053,067			5,726,577			4,436,302			10,522,388
Insurance claims			2,656,699			5,151,165			2,216,079			4,081,089
Other adjustments and interests for miscellaneous obligations			1,239,183			2,641,927			19,767,265			20,707,214
Donations			909,081			1,714,651			749,329			1,625,138
Loss from sale or impairment of property, plant and equipment			141,254			221,763			(11,210	)		20,969
Loss from sale or impairment of investment properties and other non-financial assets			119,457			119,457
Taxes			32,624			105,251			26,584			67,935
Other			21,469,412			40,883,508			18,630,329			36,978,614
Total			184,939,057			350,655,390			179,605,958			406,089,399

103 

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

26. ADDITIONAL DISCLOSURES IN THE STATEMENT OF CASH FLOWS

The Statement of Cash Flows presents the changes in cash and cash equivalents derived from operating activities, investing activities and financing activities during the period. For the preparation of the Statement of Cash Flows the Bank adopted the indirect method for Operating Activities and the direct method for Investment Activities and Financing Activities.

The Bank considers as “Cash and cash equivalents” the item Cash and deposits in banks and those financial assets that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

For the preparation of the Statement of cash flows the Bank considered the following:

- Operating activities: the normal revenue-producing activities of the Bank as well as other activities that cannot qualify as investing or financing activities.

- Investing activities: the acquisition, sale and disposal by other means of long-term assets and other investments not included in cash and cash equivalents.

- Financing activities: activities that result in changes in the size and composition of the shareholders´ equity and liabilities of the Bank and that are not part of the operating or investing activities.

The table below presents the reconciliation between the item “Cash and cash equivalents” in the Statement of Cash Flows and the relevant accounting items of the Statement of financial position:

Description		06/30/2025				12/31/2024				06/30/2024				12/31/2023
Cash and deposits in banks			2,358,686,736				3,012,050,270				2,140,177,989				2,915,030,177
Debt securities at fair value through profit or loss			14,934,746				116,475,603								329,001,362
Total			2,373,621,482				3,128,525,873				2,140,177,989				3,244,031,539

27. CAPITAL STOCK

The Bank’s subscribed and paid-in capital from December 31, 2021 to June 30, 2025, amounted to 639,413. See also Exhibit K.

28. DEPOSIT GUARANTEE INSURANCE

Note 31 to the condensed consolidated interim Financial Statements describes the Deposit Guarantee Insurance System and the scope thereof.

Banco Macro SA holds a 9.6905% interest in the capital stock according to the percentages disclosed by BCRA Communiqué “B” 12955 issued on March 14, 2025.

104 

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

29. RESTRICTED ASSETS

As of June 30, 2025 and December 31, 2024 the following Bank’s assets are restricted:

Composition			06/30/2025				12/31/2024
Debt securities at fair value through profit or loss and Other debt securities
·	Discount Bonds in pesos regulated by Argentine Law, maturity 2033, to guarantee the Credit Program for Production Reactivation of the Province of San Juan.			1,122,044				2,320,302
·	Discount Bonds in pesos regulated by Argentine Law, maturity 2033 for the minimum statutory guarantee account required for Agents to act in the new categories contemplated under CNV Resolution No. 622/2013, as amended.			1,108,915				1,249,150
·	Argentine Treasury Bonds at a discount in pesos adjusted by CER, maturity 12/15/2026 and Argentine Treasury Bills capitalizable in pesos, maturity 05/30/2025, as of June 30, 2025, and Argentine Treasury Bonds in pesos adjusted by CER 4.25%, maturity 02/14/2025, as of December 31, 2024, for the contribution to the Guarantee Fund II in BYMA according to section 45, Law 26831 and supplementary regulations established by CNV Rules (NT 2013, as amended).			29,109				23,362
·	Argentine Treasury Bonds in pesos adjusted by CER 2%, maturity 11/09/2026, to guarantee the Credit Program for Production Reactivation of the Province of San Juan.							427,692
·	Other.			6,404				7,917
Subtotal Debt securities at fair value through profit or loss and Other debt securities				2,266,472				4,028,423
Other financial assets
·	Interests derived from contributions made as protector partner (1).			30,658,954				31,292,835
·	Sundry debtors – attachment within the scope of the claim filed by the DGR of the CABA for turnover tax differences.			827				952
Subtotal Other financial assets				30,659,781				31,293,787
Financial assets delivered as a guarantee
·	Special guarantee checking accounts opened in the BCRA for transactions related to the electronic clearing houses and similar entities.			160,294,716				159,519,733
·	For securities forward contracts.			80,481,636				78,627,755
·	Guarantee deposits related to credit and debit card transactions.							26,508,729
·	Other guarantee deposits.			10,474,970				5,183,712
Subtotal Financial assets delivered as guarantee				251,251,322				269,839,929
Total				284,177,575				305,162,139

(1) As of June 30, 2025 and December 31, 2024, it corresponds to contributions to the Fintech SGR, Alianza SGR and Innova SGR risk fund. In order to maintain the tax benefits generated by these contributions, they must remain between two and three years from the date of their making.

30. TRUST ACTIVITIES

Note 33 to the condensed consolidated interim Financial Statements describes the different trust agreements according to the business purpose sought by the Bank, which may be summarized as follows:

30.1 Financial trusts for investment purposes

As of June 30, 2025 and December 31, 2024, the debt securities with investment purposes and certificates of participation in financial trusts with investment purposes amounted to 6,803,680 and 5,593,209, respectively.

105 

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

According to the latest accounting information available as of the date of issuance of these condensed separate interim Financial Statements, the corpus assets of the trusts exceed the carrying amount in the related proportions.

30.2 Trusts created using financial assets transferred by the Bank

As of June 30, 2025 and December 31, 2024, considering the latest available accounting information as of the date of issuance of these condensed separate interim Financial Statements, the assets managed through Macro Fiducia SAU of this type of trusts amounted to 4,017 and 6,008, respectively.

30.3 Trusts guaranteeing loans granted by the Bank

As of June 30, 2025 and December 31, 2024, considering the latest accounting information available as of the date of issuance of these condensed separate interim Financial Statements, the assets managed by the Bank amounted to 4,825,319 and 5,446,919, respectively.

30.4 Trusts in which the Bank acts as Trustee (Management)

As of June 30, 2025 and December 31, 2024, considering the latest available accounting information as of the date of issuance of these condensed separate interim Financial Statements, the assets managed by the Bank amounted to 20,489,775 and 18,195,998, respectively.

31. COMPLIANCE WITH CNV REGULATIONS

Considering Banco Macro SA’s current operations, and according to the different categories of agents established by CNV rules (as per General Resolution 622/2013, as amended), the Bank is registered with this agency as Agent for the Custody of Collective Investment Products of Mutual Funds (AC PIC FCI, for its acronym in Spanish) - Depositary Company, Clearing and Settlement Agent and Trading Agent - comprehensive (ALyC y AN – Integral, for its acronym in Spanish) and is registered in the “List of authorized companies to guarantee capital market instruments”, as described in Note 34.1.1 to the condensed consolidated interim Financial Statements. Note 34.3 to the mentioned Financial Statements describes the number of shares subscribed by third parties and the assets held by the Bank in its capacity as depositary company.

Additionally, the Bank’s shareholders’ equity as of June 30, 2025 stated in Units of Purchasing Power (UVAs, for its acronym in Spanish) amounted to 2,975,146,031 and exceeds the minimum amount required by such regulation for the different categories of agents in which the Bank is registered, amounting to 470,350 UVAs as of that date, and the minimum required statutory guarantee account of 235,175 UVAs, which the Bank paid-in with government securities as described in Note 29 and the cash deposits in BCRA accounts 000285 and 80285 belonging to the Bank.

In addition, Note 34.2 to the condensed consolidated interim Financial Statements presents the general policy of documents in custody, describing which information has been disclosed and delivered to third parties for custody.

32. ACCOUNTING ITEMS THAT IDENTIFY THE COMPLIANCE WITH MINIMUM CASH REQUIREMENTS

The items recognized by the Bank to constitute the minimum cash requirement effective for June 2025 are described in Note 35 to the condensed consolidated interim Financial Statements.

33. PENALTIES APPLIED TO THE BANK AND SUMMARY PROCEEDINGS INITIATED BY THE BCRA

Note 36 to the condensed consolidated interim Financial Statements describes the penalties applied and the summary proceedings filed by the BCRA against the Bank, classified as follows:

-  Summary proceedings filed by the BCRA.

-  Penalties applied by the BCRA.

-  Penalties applied by the UIF.

-  Summary proceedings with the CNV and the UIF.

106 

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

The Bank’s Management and its legal counsel consider no further significant accounting effects could arise from the final outcome of the above mentioned judicial proceedings.

34. CORPORATE BONDS ISSUANCE

Note 37 to the condensed consolidated interim Financial Statements describes liabilities for corporate bonds issued by the Bank. The corporate bonds liabilities recorded by the Bank are as follows:

Corporate Bonds		Original value				Residual face value as of 06/30/2025				06/30/2025				12/31/2024
Subordinated Resettable – Class A		USD	400,000,000			USD	400,000,000				484,264,572				482,692,651
Non-subordinated – Class G		USD	400,000,000			USD	400,000,000				470,371,664
Non-subordinated – Series XXXII			1,000,000				1,000,000				17,812,496				17,022,561
Total											972,448,732				499,715,212

35. OFF BALANCE SHEET TRANSACTIONS

In addition to Note 4, the Bank recognizes different off balance sheet transactions, pursuant to the BCRA standards. The composition of the amounts of the main off balance sheet transactions as of June 30, 2025 and December 31, 2024, is as follows:

Composition		06/30/2025				12/31/2024
Custody of government and private securities and other assets held by third parties			9,265,386,852				10,159,833,292
Preferred and other collaterals received from customers (1)			2,739,678,328				2,166,768,247
Outstanding checks not yet paid			298,264,201				291,343,668
Checks already deposited and pending clearance			259,167,616				208,394,204

(1) Related to collaterals used to secure loans transactions and other financing, under the applicable rules in force on this matter.

36. TAX AND OTHER CLAIMS

36.1 Tax claims

Note 39.1 to the condensed consolidated interim Financial Statements describes the most relevant claims filed by the former AFIP and the tax authorities of the relevant jurisdictions.

The Bank’s Management and its legal counsel consider no further significant accounting effects could arise from the final outcome of the abovementioned proceedings other than those already disclosed.

36.2 Other claims

Note 39.2 to the condensed consolidated interim Financial Statements describes the most relevant claims filed by the different consumers’ associations.

The Bank’s Management and its legal counsel consider no further significant accounting effects could arise from the final outcome of the above mentioned proceedings other than those already disclosed.

37. RESTRICTION ON DIVIDENDS DISTRIBUTION

Note 40 to the condensed consolidated interim Financial Statements describes the main legal provisions regulating the restriction on dividends distribution and the decisions made by the Shareholders’ Meeting held on April 4, 2025.

107 

NOTES TO THE CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025

(Translation of Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

38. CAPITAL MANAGEMENT, CORPORATE GOVERNANCE TRANSPARENCY POLICY AND RISK MANAGEMENT

Note 41 to the condensed consolidated interim Financial Statements describes the main guidelines of the Bank as to capital management, corporate governance transparency policy and risk management.

Minimum capital:

The table below details the minimum capital requirement of the Bank, effective for the month of June 2025, along with its integration (computable equity liability) at the end of such month:

Item		06/30/2025
Minimum capital requirement			1,149,604,407
Computable equity			4,240,097,361
Capital surplus			3,090,492,954

39. CHANGES IN THE ARGENTINE MACROECONOMIC ENVIRONMENT AND FINANCIAL AND CAPITAL MARKETS

The international and domestic macroeconomics environments in which the Bank operates and its impacts are described in Note 42 to the condensed consolidated interim Financial Statements.

40. EVENTS AFTER REPORTING PERIOD

No other significant events occurred between the end of the period and the issuance of these condensed separate interim Financial Statements that may materially affect the financial position or the profit and loss of the period, not disclosed in these condensed separate interim Financial Statements.

41. ACCOUNTING PRINCIPLES – EXPLANATION ADDED FOR TRANSLATION INTO ENGLISH

These condensed separate interim Financial Statements are presented in accordance with the accounting framework established by the BCRA, as mentioned in Note 3. These accounting standards may not conform to accounting principles generally accepted in other countries.

		Jorge Pablo Brito
	108	Chairperson

EXHIBIT A

DETAIL OF GOVERNMENT AND PRIVATE SECURITIES

AS OF JUNE 30, 2025 AND DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

						Holdings																Position
						06/30/2025												12/31/2024				06/30/2025
Name		Identification				Fair Value				Fair value level				Book amounts				Book amounts				Position without options				Options				Final position
DEBT SECURITIES AT FAIR VALUE THROUGH PROFIT OR LOSS
-    Local
Government securities
Argentine Treasury Bonds in pesos at dual rate – Maturity 06-30-2026			9320								1				129,793,363								129,793,363								129,793,363
Argentine Treasury Bonds in pesos at dual rate – Maturity 09-15-2026			9321								1				116,218,341								116,218,341								116,218,341
Argentine Treasury Bonds in pesos at dual rate – Maturity 12-15-2026			9323								1				113,847,954								113,847,954								113,847,954
Argentine Treasury Bonds in pesos at dual rate – Maturity 03-16-2026			9319								1				112,840,639								112,840,639								112,840,639
Argentine Treasury Bonds at a discount in pesos adjusted by CER – Maturity 03-31-2027			9264								1				14,728,277				47,176				14,728,277								14,728,277
Province of Neuquén Treasury Bills S01 C01 – Maturity 04-19-2026			42753								2				13,724,495				12,359,110				13,724,495								13,724,495
Argentine Treasury Bonds at a discount in pesos adjusted by CER – Maturity 12-15-2026			9249								1				13,528,069				12,013,153				13,528,069								13,528,069
Argentine Treasury Bonds at a discount in pesos adjusted by CER – Maturity 12-15-2027			9250								1				9,542,888				9,760,796				9,542,888								9,542,888
Argentine Treasury Bills capitalizable in pesos – Maturity 07-31-2025			9305								1				9,023,223				1,101				9,023,223								9,023,223
Argentine Treasury Bonds in pesos at fixed rate – Maturity 05-30-2030			9334								1				6,509,949								6,509,949								6,509,949
Other															30,598,490				612,068,658				30,598,490								30,598,490
Subtotal local government securities (1)															570,355,688				646,249,994				570,355,688								570,355,688
Private securities
Corporate Bonds YPF SA C025 – Maturity 02-13-2026			57118								2				11,754,199				12,113,164				11,754,199								11,754,199
Fiduciary Debt Securities Confibono Financial Trust											3				2,370,288				3,030,001				2,370,288								2,370,288
Utility Company Securities											3				24,544				22,810				24,544								24,544
Corporate Bonds Vista Energy Argentina SAU C20 – Maturity 07-20-2025			57081								1				513				684				513								513
Fiduciary Debt Securities Secubono Financial Trust																			841,628
Subtotal local private securities (1)															14,149,544				16,008,287				14,149,544								14,149,544
TOTAL DEBT SECURITIES AT FAIR VALUE THROUGH PROFIT OR LOSS															584,505,232				662,258,281				584,505,232								584,505,232

(1) See Note 5 to the condensed consolidated interim Financial Statements.

		Jorge Pablo Brito
	109	Chairperson

EXHIBIT A

(continued)

DETAIL OF GOVERNMENT AND PRIVATE SECURITIES

AS OF JUNE 30, 2025 AND DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

						Holdings																Position
						06/30/2025												12/31/2024				06/30/2025
Name		Identification				Fair Value				Fair value level				Book amounts				Book amounts				Position without options				Options				Final position
OTHER DEBT SECURITIES
Measured at fair value through other comprehensive income
-    Local
Government securities
Argentine Treasury Bills capitalizable in pesos – Maturity 11-10-2025			9324								1				186,208,739								186,208,739								186,208,739
Argentine Bonds US dollar Step-up – Maturity 07-09-2030			5921								1				40,482				49,488				40,482								40,482
Argentine Treasury Bonds in pesos adjusted by CER 4.25% – Maturity 02-14-2025			9180																416,571,966
Subtotal local government securities															186,249,221				416,621,454				186,249,221								186,249,221
Total Other debt securities measured at fair value through other comprehensive income															186,249,221				416,621,454				186,249,221								186,249,221
Measured at amortized cost
-    Local
Government securities
Argentine Treasury Bonds in pesos adjusted by CER – Maturity 06-30-2027			9241				2,658,958,365				1				2,963,760,602				2,803,117,658				2,963,760,602								2,963,760,602
Argentine Treasury Bills capitalizable in pesos – Maturity 08-15-2025			9308				347,311,312				1				346,242,037								346,242,037								346,242,037
Argentine Treasury Bonds in pesos – Maturity 08-23-2025			9196				65,022,785				2				66,503,914				197,281,481				66,503,914								66,503,914
Argentine Treasury Bonds in pesos – Maturity 05-23-2027			9132				23,635,097				2				22,018,581				40,766,910				22,018,581								22,018,581
Province of Buenos Aires Debt Securities variable rate – Maturity 12-05-2027			42868				10,890,000				1				10,641,511				12,261,912				10,641,511								10,641,511
Province of Córdoba Debt Securities in pesos C04 – Maturity 12-05-2027			42876				7,910,000				2				8,430,702				8,273,813				8,430,702								8,430,702
Argentine Treasury Bonds in pesos BADLAR x0.7 – Maturity 11-23-2027			9166				9,266,993				2				8,236,282				9,439,598				8,236,282								8,236,282
Discount Bonds in pesos 5.83% - Maturity 12-31-2033			45696				4,797,262				1				6,054,828				6,820,525				6,054,828								6,054,828
Municipality of Córdoba Government Securities S01 – Maturity 09-09-2026			42850				2,800,208				2				2,564,461				3,001,593				2,564,461								2,564,461
Municipality of Rosario BADLAR Bonds – Maturity 07-05-2026			42836				181,274				2				187,175				287,636				187,175								187,175
Other																			3,497,699
Subtotal local government securities															3,434,640,093				3,084,748,825				3,434,640,093								3,434,640,093

		Jorge Pablo Brito
	110	Chairperson

EXHIBIT A

(continued)

DETAIL OF GOVERNMENT AND PRIVATE SECURITIES

AS OF JUNE 30, 2025 AND DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

						Holdings																Position
						06/30/2025												12/31/2024				06/30/2025
Name		Identification				Fair Value				Fair value level				Book amounts				Book amounts				Position without options				Options				Final position
OTHER DEBT SECURITIES (continued)
Private securities
Corporate Bonds Vista Energy Argentina SAU C20 – Maturity 07-20-2025 (2)			57081				3,631,728				1				3,809,073				3,788,348				3,809,073								3,809,073
Fiduciary Debt Securities Megabond Financial Trust S316 CL.A – Maturity 10-27-2025			58517				3,078,151				2				3,085,288								3,085,288								3,085,288
Corporate Bonds Newsan SA C022 - Maturity 05-15-2026			58635				2,076,148				2				2,089,032								2,089,032								2,089,032
Fiduciary Debt Securities Secubono Financial Trust S240 CL.A - Maturity 11-28-2025			58581				479,671				2				478,976								478,976								478,976
Fiduciary Debt Securities Red Surcos Financial Trust S033 CL.A – Maturity 07-05-2025			80013				399,851				2				399,851				906,159				399,851								399,851
Fiduciary Debt Securities Secubono Financial Trust S237 CL.A – Maturity 07-28-2025			58318				21,478				2				21,464				580,409				21,464								21,464
Corporate Bonds Vista Oil y Gas Argentina SAU C15 – Maturity 01-20-2025			56637																3,231,553
Corporate Bonds SME Liliana SRL Guaranteed S01 – Maturity 04-18-2025			57457																263,986
Fiduciary Debt Securities Payway Collection Acel Financial Trust S01 CL.B – Maturity 04-15-2025			57771																19,950
Subtotal local private securities															9,883,684				8,790,405				9,883,684								9,883,684
Total Other debt securities measured at amortized cost															3,444,523,777				3,093,539,230				3,444,523,777								3,444,523,777
TOTAL OTHER DEBT SECURITIES															3,630,772,998				3,510,160,684				3,630,772,998								3,630,772,998

(2) Fair value obtained from the use of quotes in pesos.

		Jorge Pablo Brito
	111	Chairperson

EXHIBIT A

(continued)

DETAIL OF GOVERNMENT AND PRIVATE SECURITIES

AS OF JUNE 30, 2025 AND DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

					Holdings														Position
					06/30/2025										12/31/2024				06/30/2025
Name		Identification			Fair Value		Fair value level				Book amounts				Book amounts				Position without options				Options				Final position
EQUITY INSTRUMENTS
Measured at fair value through profit or loss
-   Local
A3 Mercados SA (former Mercado Abierto Electrónico SA)			30023					1				20,182,421				7,022,132				20,182,421								20,182,421
C.O.E.L.S.A.								3				3,083,093				1,096,692				3,083,093								3,083,093
Sedesa								3				317,923				157,091				317,923								317,923
AC Inversora SA								3				134,368				154,653				134,368								134,368
Rofex Inversora SA								3				86,496				99,554				86,496								86,496
Argencontrol SA								3				4,388				5,050				4,388								4,388
San Juan Tennis Club SA								3				437				503				437								437
Garantizar SGR								3				10				12				10								10
Other																17,598
Subtotal local												23,809,136				8,553,285				23,809,136								23,809,136
-   Foreign
Banco Latinoamericano de Comercio Exterior SA			80009					1				354,247				308,723				354,247								354,247
Sociedad de Telecomunicaciones Financieras Interbancarias Mundiales								3				48,911				42,946				48,911								48,911
Subtotal foreign												403,158				351,669				403,158								403,158
Total measured at fair value through profit or loss												24,212,294				8,904,954				24,212,294								24,212,294
TOTAL EQUITY INSTRUMENTS												24,212,294				8,904,954				24,212,294								24,212,294
TOTAL GOVERNMENT AND PRIVATE SECURITIES												4,239,490,524				4,181,323,919				4,239,490,524								4,239,490,524

		Jorge Pablo Brito
	112	Chairperson

EXHIBIT B

CLASSIFICATION OF LOANS AND OTHER FINANCING

BY SITUATION AND COLLATERAL RECEIVED

AS OF JUNE 30, 2025 AND DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

COMMERCIAL		06/30/2025				12/31/2024
In normal situation			3,125,812,367				1,977,890,328
With senior “A” collateral and counter-collateral			107,642,916				101,964,952
With senior “B” collateral and counter-collateral			216,635,076				176,827,998
Without senior collateral or counter-collateral			2,801,534,375				1,699,097,378
Subject to special monitoring			3,344,565				3,512,395
In observation
With senior “B” collateral and counter-collateral			3,344,565				3,512,395
With high risk of insolvency			4,617,887				5,945,368
With senior “B” collateral and counter-collateral			4,151,459				5,274,560
Without senior collateral or counter-collateral			466,428				670,808
Irrecoverable			11,883,726				11,912,132
With senior “B” collateral and counter-collateral			5,383,625				5,357,893
Without senior collateral or counter-collateral			6,500,101				6,554,239
Subtotal commercial			3,145,658,545				1,999,260,223

		Jorge Pablo Brito
	113	Chairperson

EXHIBIT B

(continued)

CLASSIFICATION OF LOANS AND OTHER FINANCING

BY SITUATION AND COLLATERAL RECEIVED

AS OF JUNE 30, 2025 AND DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

CONSUMER AND MORTGAGE		06/30/2025				12/31/2024
Performing			6,178,337,062				4,950,712,691
With senior “A” collateral and counter-collateral			426,645,468				376,106,015
With senior “B” collateral and counter-collateral			455,512,837				284,897,238
Without senior collateral or counter-collateral			5,296,178,757				4,289,709,438
Low risk			169,745,128				55,447,747
With senior “A” collateral and counter-collateral			5,505,367				1,073,744
With senior “B” collateral and counter-collateral			5,940,013				3,490,498
Without senior collateral or counter-collateral			158,299,748				50,883,505
Low risk - in special treatment			1,413,062				522,048
With senior “B” collateral and counter-collateral			1,170
Without senior collateral or counter-collateral			1,411,892				522,048
Medium risk			107,933,977				37,894,331
With senior “A” collateral and counter-collateral			2,155,957				194,468
With senior “B” collateral and counter-collateral			655,605				757,924
Without senior collateral or counter-collateral			105,122,415				36,941,939
High risk			53,601,560				25,922,636
With senior “A” collateral and counter-collateral			226,589				263,941
With senior “B” collateral and counter-collateral			945,275				171,951
Without senior collateral or counter-collateral			52,429,696				25,486,744
Irrecoverable			21,787,049				9,031,604
With senior “A” collateral and counter-collateral			68,732				3,108
With senior “B” collateral and counter-collateral			482,107				570,555
Without senior collateral or counter-collateral			21,236,210				8,457,941
Subtotal consumer and mortgage			6,532,817,838				5,079,531,057
Total			9,678,476,383				7,078,791,280

		Jorge Pablo Brito
	114	Chairperson

EXHIBIT B

(continued)

CLASSIFICATION OF LOANS AND OTHER FINANCING

BY SITUATION AND COLLATERAL RECEIVED

AS OF JUNE 30, 2025 AND DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

This exhibit discloses the contractual figures as established by the BCRA. The reconciliation with the condensed separate interim Statements of financial position is listed below:

		06/30/2025				12/31/2024
Loans and other financing			9,203,022,677				6,646,695,299
Added:
Allowances for loans and other financing			272,430,805				141,669,654
Adjustment amortized cost and fair value			8,807,187				17,799,811
Debt securities of financial trust - Measured at amortized cost			3,987,066				1,508,473
Corporate bonds			5,909,113				7,288,626
Subtract:
Interest and other accrued items receivable from financial assets with impaired credit value			(4,872,137	)			(2,303,450	)
Guarantees provided and contingent liabilities			189,191,672				266,132,867
Total computable items			9,678,476,383				7,078,791,280

115 Jorge Pablo Brito Chairperson

EXHIBIT C

CONCENTRATION OF LOANS AND FINANCING FACILITIES

AS OF JUNE 30, 2025 AND DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

		06/30/2025								12/31/2024
Number of customers		Cut off balance				% of total portfolio				Cut off balance				% of total portfolio
10 largest customers			1,009,469,113				10.43				596,240,322				8.42
50 next largest customers			1,116,690,095				11.54				620,417,300				8.76
100 next largest customers			464,958,013				4.80				352,247,581				4.98
Other customers			7,087,359,162				73.23				5,509,886,077				77.84
Total (1)			9,678,476,383				100.00				7,078,791,280				100.00

(1) See reconciliation in Exhibit B.

116 Jorge Pablo Brito Chairperson

EXHIBIT D

BREAKDOWN OF LOANS AND OTHER FINANCING BY TERMS

AS OF JUNE 30, 2025

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

				Remaining terms to maturity
Item		Matured			Up to 1 month			Over 1 month and up to 3 months			Over 3 months and up to 6 months			Over 6 months and up to 12 months			Over 12 months and up to 24 months			Over 24 months			Total
Non-financial public sector		1,220			26,579,808			15,028,114			23,666,006			37,338,659			37,826,073			21,576,455			162,016,335
Financial sector					85,975,707			10,300,935			3,385,995			7,791,686			8,436,722			3,814,580			119,705,625
Non-financial private sector and foreign residents		90,968,290			3,645,107,796			1,369,620,014			1,383,851,976			1,619,204,562			1,761,027,866			2,127,023,411			11,996,803,915
Total		90,969,510			3,757,663,311			1,394,949,063			1,410,903,977			1,664,334,907			1,807,290,661			2,152,414,446			12,278,525,875

This exhibit discloses the contractual future cash flows that include interest and charges to be accrued until maturity of the contracts.

BREAKDOWN OF LOANS AND OTHER FINANCING BY TERMS

AS OF DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

				Remaining terms to maturity
Item		Matured		Up to 1 month			Over 1 month and up to 3 months			Over 3 months and up to 6 months			Over 6 months and up to 12 months			Over 12 months and up to 24 months			Over 24 months			Total
Non-financial public sector					5,889,429			14,786,398			15,297,715			37,281,130			39,844,644						113,099,316
Financial sector					72,004,453			202,099			279,796			9,649,243			1,827,410			4,468			83,967,469
Non-financial private sector and foreign residents		38,238,846			2,617,321,728			942,453,776			1,100,369,727			1,249,427,167			1,362,119,325			1,508,022,252			8,817,952,821
Total		38,238,846			2,695,215,610			957,442,273			1,115,947,238			1,296,357,540			1,403,791,379			1,508,026,720			9,015,019,606

This exhibit discloses the contractual future cash flows that include interest and charges to be accrued until maturity of the contracts.

117 Jorge Pablo Brito Chairperson

EXHIBIT F

CHANGE OF PROPERTY, PLANT AND EQUIPMENT

AS OF JUNE 30, 2025

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

												Depreciation
Item		Original value at beginning of fiscal year		Total life estimated in years		Increases		Decreases		Transfers (1)		Accumulated		Transfers (1)		Decreases		Of the period		At the end		Residual value at the end of the period
Cost
Real property		822,866,500		50		2,631,201		1,009,464		1,777,816		111,183,673		(3,760	)	162,564		9,033,175		120,050,524		706,215,529
Furniture and facilities		121,319,509		10		1,874,708		492		9,334,061		61,241,657		(218	)	66		6,073,308		67,314,681		65,213,105
Machinery and equipment		131,722,533		5		7,355,000				43,856		65,757,069		(2,659	)			12,142,963		77,897,373		61,224,016
Vehicles		27,049,219		5		1,103,856		1,043,272		(9,281	)	20,367,977		2,659		839,435		1,393,718		20,924,919		6,175,603
Work in progress		37,286,397				19,911,698				(11,420,164	)											45,777,931
Right of use real property		80,089,004		5		6,670,485						61,238,260						4,906,436		66,144,696		20,614,793
Right of use furniture		8,092,755		5		225,864						2,639,791						947,655		3,587,446		4,731,173
Total property, plant and equipment		1,228,425,917				39,772,812		2,053,228		(273,712	)	322,428,427		(3,978	)	1,002,065		34,497,255		355,919,639		909,952,150

(1) During fiscal year 2025, transfers were made to Non-current assets held for sale.

CHANGE OF PROPERTY, PLANT AND EQUIPMENT

AS OF DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

												Depreciation
Item		Original value at beginning of fiscal year		Total life estimated in years		Increases		Decreases		Transfers (1)		Accumulated		Transfers (1)		Decreases		For the fiscal year		At the end		Residual value at the end of the fiscal year
Cost
Real property		843,953,843		50		9,690,712		37,960,646		7,182,591		130,443,134		20,049		43,036,644		23,757,134		111,183,673		711,682,827
Furniture and facilities		148,144,363		10		3,894,331		34,647,028		3,927,843		84,393,329		(491	)	33,218,163		10,066,982		61,241,657		60,077,852
Machinery and equipment		244,994,711		5		27,521,394		141,674,193		880,621		183,934,433		(1,536	)	141,149,616		22,973,788		65,757,069		65,965,464
Vehicles		26,496,494		5		2,734,204		2,181,479				18,948,088				1,395,451		2,815,340		20,367,977		6,681,242
Other		18,702,932						18,702,932				18,590,871				18,590,871
Work in progress		21,421,306				27,342,804		359,984		(11,117,729	)											37,286,397
Right of use real property		87,095,505		5		11,856,858		17,015,548		(1,847,811	)	66,859,923		(986,627	)	16,266,775		11,631,739		61,238,260		18,850,744
Right of use furniture		6,244,944		5						1,847,811		1,073,915		986,628				579,248		2,639,791		5,452,964
Total property, plant and equipment		1,397,054,098				83,040,303		252,541,810		873,326		504,243,693		18,023		253,657,520		71,824,231		322,428,427		905,997,490

(1) During fiscal year 2024, transfers were made to Non-current assets held for sale.

118 Jorge Pablo Brito Chairperson

EXHIBIT F

(continued)

CHANGE IN INVESTMENT PROPERTY

AS OF JUNE 30, 2025

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

												Depreciation
Item		Original value at beginning of fiscal year		Total life estimated in years		Increases		Decreases		Transfers (1)		Accumulated		Transfers		Decreases		Of the period		At the end		Residual value at the end of the period
Cost
Leased properties		3,095,649		50								595,134						30,431		625,565		2,470,084
Other investment properties		69,267,636		50		1,016,390				175,964		1,032,233		(162	)			79,897		1,111,968		69,348,022
Total investment property		72,363,285				1,016,390				175,964		1,627,367		(162	)			110,328		1,737,533		71,818,106

(1) During fiscal year 2025, transfers were made to Non-current assets held for sale.

CHANGE IN INVESTMENT PROPERTY

AS OF DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

												Depreciation
Item		Original value at beginning of fiscal year		Total life estimated in years		Increases		Decreases		Transfers		Accumulated		Transfers (1)		Decreases		For the fiscal year		At the end		Residual value at the end of the fiscal year
Cost
Leased properties		3,095,650		50						(1	)	534,868						60,266		595,134		2,500,515
Other investment properties		65,536,793		50		3,709,105		(21,737	)	1		890,981		8,962				132,290		1,032,233		68,235,403
Total investment property		68,632,443				3,709,105		(21,737	)			1,425,849		8,962				192,556		1,627,367		70,735,918

(1) During fiscal year 2024, transfers were made to Non-current assets held for sale.

119 Jorge Pablo Brito Chairperson

EXHIBIT G

CHANGE IN INTANGIBLE ASSETS

AS OF JUNE 30, 2025

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

												Depreciation
Item		Original value at beginning of fiscal year		Useful life estimated in years		Increases		Decreases		Transfers		Accumulated		Transfers		Decreases		Of the period		At the end		Residual value at the end of the period
Cost
Licenses		83,031,896		5		7,003,666						57,124,004						7,933,443		65,057,447		24,978,115
Other intangible assets		328,616,315		5		32,440,929						188,860,905		1				33,540,961		222,401,867		138,655,377
Total intangible assets		411,648,211				39,444,595						245,984,909		1				41,474,404		287,459,314		163,633,492

CHANGE IN INTANGIBLE ASSETS

AS OF DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

												Depreciation
Item		Original value at beginning of fiscal year		Useful life estimated in years		Increases		Decreases		Transfers		Accumulated		Transfers		Decreases		For the fiscal year		At the end		Residual value at the end of the fiscal year
Cost
Licenses		110,704,236		5		7,973,807		60,315,753		24,669,606		76,625,165		25,730,238		59,348,850		14,117,451		57,124,004		25,907,892
Other intangible assets		484,680,080		5		59,460,469		190,878,945		(24,645,289	)	332,047,762		(24,743,342	)	188,164,483		69,720,968		188,860,905		139,755,410
Total intangible assets		595,384,316				67,434,276		251,194,698		24,317		408,672,927		986,896		247,513,333		83,838,419		245,984,909		165,663,302

120 Jorge Pablo Brito Chairperson

EXHIBIT H

DEPOSIT CONCENTRATION

AS OF JUNE 30, 2025 AND DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

		06/30/2025								12/31/2024
Number of customers		Outstanding balance				% of total portfolio				Outstanding balance				% of total portfolio
10 largest customers			1,590,344,175				15.06				1,408,043,928				14.56
50 next largest customers			956,540,699				9.06				1,156,015,802				11.95
100 next largest customers			499,820,044				4.73				410,398,701				4.24
Other customers			7,511,047,455				71.15				6,699,319,052				69.25
Total			10,557,752,373				100.00				9,673,777,483				100.00

121 Jorge Pablo Brito Chairperson

EXHIBIT I

BREAKDOWN OF FINANCIAL LIABILITIES FOR RESIDUAL TERMS

AS OF JUNE 30, 2025

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

		Remaining terms to maturity
Item		Up to 1 month				Over 1 month and up to 3 months				Over 3 months and up to 6 months				Over 6 months and up to 12 months				Over 12 months and up to 24 months				Over 24 months				Total
Deposits			9,635,948,240				600,152,858				331,306,977				78,786,280				4,196,112				188,712				10,650,579,179
From the non-financial public sector			790,204,908				20,257,357				72,378,580				621,514												883,462,359
From the financial sector			13,440,608																								13,440,608
From the non-financial private sector and foreign residents			8,832,302,724				579,895,501				258,928,397				78,164,766				4,196,112				188,712				9,753,676,212
Derivative financial instruments			255,534				212,590				195,473																663,597
Other financial liabilities			896,390,068				4,026,090				3,966,854				9,207,463				13,961,747				32,109,529				959,661,751
Financing received from the BCRA and other financial institutions			13,921,379				18,647,123				11,781,348				24,015,416				378,545				99,535				68,843,346
Issued corporate bonds							17,995,743				19,105,333				19,105,333				38,210,666				554,054,652				648,471,727
Subordinated corporate bonds											15,864,591				15,864,591				493,497,911								525,227,093
Total			10,546,515,221				641,034,404				382,220,576				146,979,083				550,244,981				586,452,428				12,853,446,693

This exhibit discloses contractual future cash flows that include interests and charges to be accrued until maturity of the contracts.

122 Jorge Pablo Brito Chairperson

EXHIBIT I

BREAKDOWN OF FINANCIAL LIABILITIES FOR RESIDUAL TERMS

AS OF DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

		Remaining terms to maturity
Item		Up to 1 month				Over 1 month and up to 3 months				Over 3 months and up to 6 months				Over 6 months and up to 12 months				Over 12 months and up to 24 months				Over 24 months				Total
Deposits			9,100,071,694				426,867,137				115,853,467				74,879,647				170,697				27,558				9,717,870,200
From the non-financial public sector			672,908,105				23,506,273				316,822				49,101,880												745,833,080
From the financial sector			13,362,616																								13,362,616
From the non-financial private sector and foreign residents			8,413,800,973				403,360,864				115,536,645				25,777,767				170,697				27,558				8,958,674,504
Liabilities at fair value through profit or loss			44,201																								44,201
Derivative financial instruments			331,612				519,239				480,022				190,251												1,521,124
Repo transactions			21,840,299																								21,840,299
Other financial entities			21,840,299																								21,840,299
Other financial liabilities			889,512,098				3,375,090				3,536,133				5,534,710				11,325,270				29,460,322				942,743,623
Financing received from the BCRA and other financial institutions			21,367,347				19,082,493				9,379,339				109,385				211,026				200,700				50,350,290
Issued corporate bonds							109,927				120,071				17,637,842												17,867,840
Subordinated corporate bonds											15,788,764				15,788,764				506,927,939								538,505,467
Total			10,033,167,251				449,953,886				145,157,796				114,140,599				518,634,932				29,688,580				11,290,743,044

This exhibit discloses contractual future cash flows that include interests and charges to be accrued until maturity of the contracts.

123 Jorge Pablo Brito Chairperson

EXHIBIT J

CHANGES IN PROVISIONS

AS OF JUNE 30, 2025

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

										Decreases
Item		Amounts at beginning of fiscal year				Increases				Reversals				Charge off				Monetary effect generated by provisions				06/30/2025
Provisions for eventual commitments			8,861,789				632,230												(1,278,798	)			8,215,221
For administrative, disciplinary and criminal penalties			576																(76	)			500
Other			10,594,516				5,094,347								5,050,212				(1,376,108	)			9,262,543
Total provisions			19,456,881				5,726,577								5,050,212				(2,654,982	)			17,478,264

CHANGES IN PROVISIONS

AS OF DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

										Decreases
Item		Amounts at beginning of fiscal year				Increases				Reversals				Charge off				Monetary effect generated by provisions				12/31/2024
Provisions for eventual commitments			5,206,378				8,139,620				87,339				345,049				(4,051,821	)			8,861,789
For administrative, disciplinary and criminal penalties			1,253				18,692								18,692				(677	)			576
Other			16,471,080				10,921,888				246,686				6,720,658				(9,831,108	)			10,594,516
Total provisions			21,678,711				19,080,200				334,025				7,084,399				(13,883,606	)			19,456,881

124 Jorge Pablo Brito Chairperson

EXHIBIT K

COMPOSITION OF CAPITAL STOCK

AS OF JUNE 30, 2025

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

Shares														Capital Stock
Class		Stock number				Face value				Votes per share				Issued outstanding				Paid in
Registered common stock A			11,235,670				1				5				11,236				11,236
Registered common stock B			628,177,738				1				1				628,177				628,177
Total			639,413,408												639,413				639,413

COMPOSITION OF CAPITAL STOCK

AS OF DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

Shares														Capital Stock
Class		Stock number				Face value				Votes per share				Issued outstanding				Paid in
Registered common stock A			11,235,670				1				5				11,236				11,236
Registered common stock B			628,177,738				1				1				628,177				628,177
Total			639,413,408												639,413				639,413

125 Jorge Pablo Brito Chairperson

EXHIBIT L

FOREIGN CURRENCY AMOUNTS

AS OF JUNE 30, 2025 AND DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

		06/30/2025																				12/31/2024
						Total per currency
Item		Total parent company and local branches				US dollar				Euro				Real				Other				Total
Assets
Cash and deposits in banks			1,738,419,515				1,706,529,383				29,222,179				258,789				2,409,164				2,268,769,234
Debt securities at fair value through profit or loss			25,607,659				25,607,659																25,218,749
Other financial assets			60,944,440				60,862,965				81,475												64,591,659
Loans and other financing			1,883,142,646				1,882,599,760				542,886												1,277,157,419
Other financial entities			119,949				119,949																59,605
Non-financial private sector and foreign residents			1,883,022,697				1,882,479,811				542,886												1,277,097,814
Other debt securities			3,849,555				3,849,555																7,069,389
Financial assets delivered as guarantee			32,258,411				32,258,411																28,414,319
Equity instruments at fair value through profit or loss			403,158				403,158																351,669
Investments in subsidiaries, associates and joint ventures			56,021,639				56,021,639																52,487,123
Total assets			3,800,647,023				3,768,132,530				29,846,540				258,789				2,409,164				3,724,059,561
Liabilities
Deposits			3,011,074,627				2,989,495,334				21,579,293												3,138,934,286
Non-financial public sector			155,084,525				155,084,525																109,135,926
Financial sector			13,111,627				13,111,627																12,603,467
Non-financial private sector and foreign residents			2,842,878,475				2,821,299,182				21,579,293												3,017,194,893
Other financial liabilities			94,557,850				90,684,024				3,699,322				95				174,409				78,249,179
Financing received from the BCRA and other financial institutions			67,996,167				67,451,207				544,960												49,723,159
Issued corporate bonds			470,371,664				470,371,664
Subordinated corporate bonds			484,264,572				484,264,572																482,692,651
Other non-financial liabilities			3,555,533				3,555,533																4,385,301
Total liabilities			4,131,820,413				4,105,822,334				25,823,575				95				174,409				3,753,984,576

126 Jorge Pablo Brito Chairperson

EXHIBIT O

DERIVATIVE FINANCIAL INSTRUMENTS

AS OF JUNE 30, 2025

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

Type of contract

Purpose of the transactions performed

Underlying asset

Type of settlement

Negotiation environment or counter-party

Originally agreed weighted average term (months)

Residual weighted average term (months)

Weighted daily average term settlement of differences (days)

Amount (1)

Futures (2)

Intermediation - own account

Foreign currency

Daily settlement of differences

A3 Mercados SA (former Mercado Abierto Electrónico SA)

6

6

1

83,662,191

Forward (2)

Intermediation - own account

Foreign currency

Maturity settlement of differences

Over The Counter - Residents in Argentina – Non-financial sector

5

2

30

30,495,224

Options

Intermediation - own account

Other

With delivery of underlying asset

Over The Counter – Residents in Argentina – Non-financial sector

20

6

249,447

(1) Related to the valuation of the underlying traded, disclosed in absolute values.

(2) Related to compensated operations forward (OCT, for its acronym in Spanish).

127 Jorge Pablo Brito Chairperson

EXHIBIT Q

BREAKDOWN OF STATEMENT OF INCOME

FOR THE THREE AND SIX MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

		Net financial Income / (Loss)
		Mandatory measurement
Item		Quarter ended 06/30/2025				Accumulated from beginning of year up to 06/30/2025				Quarter ended 06/30/2024				Accumulated from beginning of year up to 06/30/2024
For measurement of financial assets at fair value through profit or loss
Gain from government securities			67,102,521				88,589,708				141,844,846				2,214,850,059
Gain from private securities			1,376,055				2,044,942				2,398,442				1,045,394
Gain from derivative financial instruments
Forward transactions			6,709,553				8,210,961				6,039,682				14,578,243
(Loss) / gain from other financial assets			(50,468	)			(44,159	)			(104,231	)			63,073
For equity instruments at fair value through profit or loss			4,365,292				17,698,054				2,273,022				2,261,161
Gain / (loss) from sale or write-off of financial assets at fair value (1)			9,098,299				14,897,888				2,895,965				(20,744,178	)
For measurement of financial liabilities at fair value through profit or loss
Gain / (loss) from derivative financial instruments
Options			1,585,077				(259,520	)			(5,142,851	)			(17,718,899	)
Total			90,186,329				131,137,874				150,204,875				2,194,334,853

(1) Net amount of reclassifications to profit of instruments classified at fair value through other comprehensive income that were derecognized or charged during the period.

128 Jorge Pablo Brito Chairperson

EXHIBIT Q

(continued)

BREAKDOWN OF STATEMENT OF INCOME

FOR THE THREE AND SIX MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

		Net financial Income / (Loss)
Interest and adjustment for the application of the effective interest rate of financial assets and financial liabilities measured at amortized cost		Quarter ended 06/30/2025				Accumulated from beginning of year up to 06/30/2025				Quarter ended 06/30/2024				Accumulated from beginning of year up to 06/30/2024
Interest income
for cash and bank deposits			2,541,017				4,838,553				4,495,937				9,677,498
for government securities			316,541,887				583,000,407				217,380,078				265,456,824
for private securities			720,457				999,351				856,624				2,591,473
for loans and other financing
Non-financial public sector			6,679,850				13,190,239				1,147,622				3,901,914
Financial sector			4,569,286				7,514,418				1,375,202				3,073,532
Non-financial private sector
Overdrafts			106,482,646				173,488,379				85,892,975				203,893,459
Documents			65,096,735				118,468,311				59,328,053				152,513,479
Mortgage loans			59,629,818				107,655,424				115,466,796				295,238,339
Pledge loans			7,133,991				12,327,404				4,132,013				9,327,170
Personal loans			310,278,580				580,531,656				132,481,916				247,781,091
Credit cards			87,093,627				170,652,403				83,202,871				190,513,531
Financial leases			2,622,389				5,396,495				3,464,763				9,087,562
Other			96,048,190				182,790,976				86,434,732				223,203,135
for repo transactions
Central Bank of Argentina											67,651,434				318,654,273
Other financial entities			1,007,876				1,923,432				253,327				360,026
Total			1,066,446,349				1,962,777,448				863,564,343				1,935,273,306
Interest expenses
for Deposits
Non-financial private sector
Checking accounts			(6,932,814	)			(21,171,657	)			(49,800,350	)			(155,776,060	)
Saving accounts			(5,569,763	)			(10,445,181	)			(13,675,553	)			(35,310,303	)
Time deposits and investments accounts			(366,247,059	)			(638,298,940	)			(518,841,230	)			(1,262,607,755	)
Other											(82	)			(124	)
for financing received from the BCRA and other financial institutions			(318,098	)			(644,473	)			(1,127,226	)			(5,400,132	)
for repo transactions
Other financial entities			(41,691	)			(1,401,434	)			(2,641,529	)			(9,433,968	)
for other financial liabilities			(643,897	)			(1,136,393	)			(384,172	)			(892,180	)
for issued corporate bonds			(2,692,474	)			(4,263,612	)			(4,064,463	)			(11,242,669	)
for other subordinated corporate bonds			(7,653,273	)			(15,004,138	)			(8,290,580	)			(18,266,679	)
Total			(390,099,069	)			(692,365,828	)			(598,825,185	)			(1,498,929,870	)

129 Jorge Pablo Brito Chairperson

EXHIBIT Q

(continued)

BREAKDOWN OF STATEMENT OF INCOME

FOR THE THREE AND SIX MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

		Income of the period								Other comprehensive income								Income of the period								Other comprehensive income
Interest and adjustment for the application of the effective interest rate of financial assets measured at fair value through OCI		Quarter ended 06/30/2025				Accumulated from beginning of year up to 06/30/2025				Quarter ended 06/30/2025				Accumulated from beginning of year up to 06/30/2025				Quarter ended 06/30/2024				Accumulated from beginning of year up to 06/30/2024				Quarter ended 06/30/2024				Accumulated from beginning of year up to 06/30/2024
For debt government securities			19,793,724				39,547,165				6,731,166				6,958,927				(1,411,139	)			104,399,269				(94,038,024	)			(86,918,491	)
Total			19,793,724				39,547,165				6,731,166				6,958,927				(1,411,139	)			104,399,269				(94,038,024	)			(86,918,491	)

		Income of the period
Item		Quarter ended 06/30/2025				Accumulated from beginning of year up to 06/30/2025				Quarter ended 06/30/2024				Accumulated from beginning of year up to 06/30/2024
Commissions income
Commissions related to obligations			97,925,163				193,502,179				82,547,191				153,506,946
Commissions related to credits			4,496,469				7,794,864				5,330,828				7,010,246
Commissions related to loans commitments and financial guarantees			314,506				488,731				1,835,636				4,026,630
Commissions related to securities value			2,128,668				4,664,365				2,044,451				3,968,999
Commissions for credit cards			49,615,615				102,301,574				48,287,387				94,308,181
Commissions for insurances			12,799,689				25,780,843				7,880,577				13,880,337
Commissions related to trading and foreign exchange transactions			6,458,183				12,114,916				5,243,812				12,043,513
Total			173,738,293				346,647,472				153,169,882				288,744,852
Commissions expenses
Commissions related to trading and foreign exchange transactions			(912,972	)			(1,724,224	)			(1,870,889	)			(3,428,623	)
Other
Commissions paid ATM exchange			(5,004,363	)			(11,005,490	)			(13,054,381	)			(19,027,138	)
Checkbooks commissions and clearing houses			(5,691,524	)			(11,009,255	)			(3,612,471	)			(6,478,798	)
Credit cards and foreign trade commissions			(1,365,922	)			(2,963,838	)			379,648				(2,324,013	)
Total			(12,974,781	)			(26,702,807	)			(18,158,093	)			(31,258,572	)

130 Jorge Pablo Brito Chairperson

EXHIBIT R

VALUE ADJUSTMENT FOR CREDIT LOSSES - ALLOWANCES FOR UNCOLLECTIBILITY RISK

AS OF JUNE 30, 2025

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

						Movements between stages of the period
										ECL of remaining life of financial asset
Item		Amounts at beginning of the fiscal year				ECL of the next 12 months				Financial instruments with a significant increase in credit risk				Financial instruments with impairment				Monetary effect generated by allowances				06/30/2025
Other financial assets			288,251				(227,970	)											(30,862	)			29,419
Loans and other financing			141,669,654				35,571,013				45,230,282				71,863,297				(21,903,441	)			272,430,805
Other financial entities			34,200				30,193				(226	)							(6,199	)			57,968
To the non-financial private sector and foreign residents
Overdrafts			13,983,848				4,650,629				4,318,697				5,080,141				(2,142,583	)			25,890,732
Documents			6,381,475				1,963,748				388,436				1,873,553				(912,495	)			9,694,717
Mortgage loans			10,071,005				1,386,013				947,694				1,347,952				(1,396,064	)			12,356,600
Pledge loans			1,958,300				605,354				907,129				119,796				(291,775	)			3,298,804
Personal loans			48,168,878				15,440,916				23,672,895				35,736,494				(7,981,249	)			115,037,934
Credit cards			40,950,821				8,684,431				12,547,280				22,527,915				(6,343,570	)			78,366,877
Financial leases			507,682				(222,916	)			47,451				51,125				(61,665	)			321,677
Other			19,613,445				3,032,645				2,400,926				5,126,321				(2,767,841	)			27,405,496
Eventual commitments			8,861,789				131,352				409,441								(1,187,361	)			8,215,221
Other debt securities			6,694				6,780												(979	)			12,495
Total allowances			150,826,388				35,481,175				45,639,723				71,863,297				(23,122,643	)			280,687,940

VALUE ADJUSTMENT FOR CREDIT LOSSES - ALLOWANCES FOR UNCOLLECTIBILITY RISK

AS OF DECEMBER 31, 2024

(Translation of the Financial Statements originally issued in Spanish – See Note 41)

(Figures stated in thousands of pesos in constant currency)

						Movements between stages for the fiscal year
										ECL of remaining life of financial asset
Item		Amounts at beginning of the fiscal year				ECL of the next 12 months				Financial instruments with a significant increase in credit risk				Financial instruments with impairment				Monetary effect generated by allowances				12/31/2024
Other financial assets			1,491,995				(425,302	)			864				45				(779,351	)			288,251
Loans and other financing			134,067,055				42,399,998				13,480,711				28,258,807				(76,536,917	)			141,669,654
Other financial entities			58,214				8,188				260								(32,462	)			34,200
To the non-financial private sector and foreign residents
Overdrafts			18,055,060				5,413,829				(1,579,275	)			2,190,064				(10,095,830	)			13,983,848
Documents			8,158,798				2,105,183				(111,265	)			870,121				(4,641,362	)			6,381,475
Mortgage loans			12,261,060				1,485,437				992,163				2,247,815				(6,915,470	)			10,071,005
Pledge loans			876,593				1,313,643				261,829				43,518				(537,283	)			1,958,300
Personal loans			25,102,881				17,364,490				7,737,098				12,953,294				(14,988,885	)			48,168,878
Credit cards			26,796,659				9,080,195				6,750,314				14,152,237				(15,828,584	)			40,950,821
Financial leases			267,869				272,405				40,314				84,192				(157,098	)			507,682
Other			42,489,921				5,356,628				(610,727	)			(4,282,434	)			(23,339,943	)			19,613,445
Eventual commitments			5,206,378				6,001,600				757,178				(511	)			(3,102,856	)			8,861,789
Other debt securities			30,102				(5,901	)							(173	)			(17,334	)			6,694
Total allowances			140,795,530				47,970,395				14,238,753				28,258,168				(80,436,458	)			150,826,388

131 Jorge Pablo Brito Chairperson

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.

Date: September 17, 2025

	MACRO BANK INC.
	By:	/s/ Jorge Francisco Scarinci
	Name: Jorge Francisco Scarinci
	Title: Chief Financial Officer

FAQ

What acquisitions does Macro Bank (BMA) disclose in this report?

The filing discloses acquisition of Banco Itaú Argentina SA (referred to as Banco BMA SAU), including related asset-management and brokerage stakes, and other entities consolidated in 2023 with control effective for some entities in January 2025.

Did Macro Bank issue corporate debt in 2025?

Yes. On June 23, 2025 the Bank issued Class G corporate bonds denominated in US dollars for a face value of USD 400,000,000 at a fixed rate of 8% maturing June 23, 2029.

What debt-exchange transactions are noted in the filing?

The Bank entered voluntary debt exchanges: in August 2024 and in February 2025 for Argentine Treasury CER-adjusted bonds including T2X5 and TZX25 and a Feb 2025 exchange for T2X5 with specified face values.

How does the Bank treat public-sector debt received in swaps?

Per BCRA Communiqués the Bank initially recognizes public-sector debt received in swap transactions at their carrying amount as of the swap date, without derecognition assessment under IFRS 9.

Is expected credit loss (ECL) applied to public sector exposures?

No. The filing states that ECL is not calculated for public sector exposures as explained in Note 3.

Were any mergers or reorganizations approved?

Yes. Management decided on mergers by absorption with reorganization date January 1, 2025 and shareholder approval on March 31, 2025 for specified subsidiaries.