Bolsas y Mercados Argentinos S A : Earnings Presentation 1Q23

Earnings Presentation

1st quarter 2023 (1Q23)

May 12th, 2023

EXCELLENT START OF THE YEAR

Both business lines showed strong growth with respect to 1Q22. Cost controls also showed positive results, contibuting more to margin growth. Higher local and international rates helped financial

income.

ARS Million			Historical
	1Q22	1Q23	Var.
CSD Revenues	780	1,523	95%
Exchange Revenues	885	2,381	169%
Income		1,665	3,904	134%
Total Expenses	-1,095	-1,887	72%
Gross Margin	570	2,018	254%
Other Operating Income	140	1,769	1164%
Net Operatig Result		710	3,787	433%
Inflation Adjustment Impact	0	0	0%
Financial Income	2,286	9,541	317%
Oher gains/losses	-13	-35	172%
Participation in other companies	52	92	77%
EBT		3,035	13,385	341%
Income Tax	-555	-1,930	248%
Net Income		2,480	11,455	362%

Adjusted by Inflation

1Q22	1Q23	Var.
1,690	1,618	-4%
1,911	2,554	34%
3,601	4,172	16%
-2,543	-2,346	-8%
1,058	1,826	73%
327	1,971	503%
1,385	3,797	174%
-7,933	-10,518	33%
4,867	10,150	109%
12	11	-10%
30	92	204%
-1,639	3,532	315%
-1,038	-1,812	N/A
-2,677	1,720	164%

(*) This slide is the only one showing inflation adjusted figures. The rest of the presentation shows historical data.

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CSD: ASSETS UNDER CUSTODY ACCELERATE THEIR GROWTH RATE

Assets under custody (AUCs) showed strong growth at the Central Securities Depository (CSD). This measured both as face value as well as market value.

AuC by asset class

6%

	12%		Public Debt
			Treasury and Central bank bills
		40%	Trusts
			Equity
25%			Private Debt
			Others

3% 14%

AuC Nominal Value - Quarterly evolution			AuC Market value - Quaterly evolution
	Millions
		4,331,621	ARS Millions
	+37%			19,448,151
			+99.6%
	3,539,066	3,525,396
	3,155,627	3,314,371	15,158,336
	2,582,514			12,645,311
			11,531,098
	2,195,524
2,040,280			9,745,906
				7,796,950
			6,195,235	6,200,051

2Q 20

3Q 20

4Q 20

1Q21

2Q21

3Q21

4Q21

1Q22

2Q22

3Q22

4Q22

1Q23

2Q 20

3Q 20

4Q 20

1Q21

2Q21

3Q21

4Q21

1Q22

2Q22

3Q22

4Q22

1Q23

3

CSD: REVENUE ALSO ACCELERATES WITH KEY DRIVER

Revenue from the CSD amounted to ARS 1.523 millones, which shows a growth

of 95% YoY and to 18% QoQ. They are reflecting an acceleration with respecto to the 85% YoY growth reflected on 4Q22.

All business lines posted stronger results than those shown in 4Q22.

	1Q 22	1Q 23	YoY $	YoY %
CSD (ARS Millions)	779.7	1,523.1	743.4	95.3%
ADC Services	566.2	1,077.3	511.1	90.3%
ACRyP Services	13.8	34.9	21.1	153.2%
Additional services	199.7	411.0	211.2	105.8%

					CSD Revenues								1,523
					ARS Millions
																1,290	411
															1,035	307	35
												904		271	33
											780
										702	202
							685			18
				644		645	200	16
				584
						164	168
456	487		139		166	14						1,077
	156	13	13
96		11	12						950
93			11
10	9											686		746
										566
				493	417	468	508	521
353	381
2Q 20	3Q 20	4Q 20	1Q 21	2Q 21	3Q 21	4Q 21	1Q 22	2Q 22	3Q 22	4Q 22	1Q 23
			Additional services				ACRyP services				ADC services

4

EXCHANGE: REVENUE GROWS STRONGLY BASED ON GREATER ACTIVITY

Revenue from the Exchange (ARS 2.381 millones) grew 169% with respect to 1Q22 and 50% versus previous quarter. The Exchange has become the largest business line of BYMA. Equity continues to be the main revenue contributor, but fixed income and on-exchange-repo now account for almost the same portion.

				Exchange Revenues					2,381		Exchange Revenue Share
					ARS Millions						0.19%	7%	1%
												113	Equity
												5%
								+169%
													Fixed income
		Market Data
								1,524	1,588					On-exchange repo
		Trading C&S Fees						93				39%	Options
							84		22%
		Other Fees												Futures
							966			2,118
							874	885							Securities lending
						752	70
						44	51
					641		1,346	1,385					Market Data
	523	564	581	35
449	27
22	24				817					26%	Others
10			765	759
12					553	656
	469	492	496
398
39	44	50	61	61	61	65	75	79	94	110	150
2Q 20	3Q 20	4Q 20	1Q 21	2Q 21	3Q 21	4Q 21	1Q 22	2Q 22	3Q 22	4Q 22	1Q 23

	1Q 22	1Q 23	YoY $	YoY %
EXCHANGE (ARS Millions)	884.7	2,381.0	1,496.4	169.1%
Trading C&S fees	758.5	2,117.9	1,359.4	179.2%
Market Data	75.4	149.7	74.3	98.5%
Other fees	50.7	113.4	62.7	123.7%

The increase in transacted volumes has been substantial across all business lines.

5