Grupo Supervielle S A : Fourth Quarter 2023 Grupo Supervielle's Financial Statement as of December 31, 2023

Consolidated Financial Statements

For the financial year ended on

December 31, 2023, presented on comparative basis in homogeneous currency

Contents

CONSOLIDATED STATEMENT OF FINANCIAL POSITION ................................................................................................................ 2

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME ..................................................................................................... 4

EARNING PER SHARE ................................................................................................................................................................................. 5

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS´ EQUITY .............................................................................. 7

CONSOLIDATED STATEMENT OF CASH FLOWS ................................................................................................................................ 9

• 1. ACCOUNTING STANDARDS AND BASIS OF PREPARATION ........................................................................................... 11

• 2. CRITICAL ACCOUNTING POLICIES AND ESTIMATES .................................................................................................... 38

• 3. SEGMENT REPORTING ............................................................................................................................................................ 39

• 4. INCOME TAX ............................................................................................................................................................................... 42

• 5. FINANCIAL INSTRUMENTS ..................................................................................................................................................... 44

• 6. FAIR VALUES .............................................................................................................................................................................. 45

• 7. TRANSFER OF FINANCIAL ASSETS ...................................................................................................................................... 49

• 8. NON CONTROLLING INTEREST ............................................................................................................................................ 49

• 9. LONG-TERM BENEFIT OBLIGATIONS ................................................................................................................................. 49

• 10. CASH AND DUE FROM BANKS ................................................................................................................................................ 49

• 11. RELATED PARTY TRANSACTIONS ....................................................................................................................................... 50

• 12. FINANCE LEASES ....................................................................................................................................................................... 51

• 13. COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND

CONSOLIDATED INCOME STATEMENT .............................................................................................................................................. 53

• 14. CONSIDERATIONS OF RESULTS ............................................................................................................................................ 57

• 15. COMMITMENTS AND CONTINGENCIES ............................................................................................................................. 57

• 16. INSURANCE ................................................................................................................................................................................. 57

• 17. ASSET MANAGEMENT AND OTHER SERVICES ................................................................................................................ 58

• 18. ADDITIONAL INFORMATION REQUIRED BY THE BCRA ............................................................................................... 59

• 19. FINANCIAL RISK FACTORS .................................................................................................................................................... 61

• 20. REPURCHASE OF TREASURY SHARES ................................................................................................................................ 67

• 21. MERGE IUDÚ COMPAÑÍA FINANCIERA S.A. AND TARJETA AUTOMÁTICA S.A WITH BANCO SUPERVIELLE

S.A ………… ................................................................................................................................................................................................... 68

• 22. OFFSETTING OF FINANCIAL ASSET AND LIABILITIES .................................................................................................. 68

• 24. ECONOMIC CONTEXT IN WHICH THE COMPANY OPERATES .................................................................................... 70

• 25. TURNOVER TAX ......................................................................................................................................................................... 71

• 26. CAPITAL MANAGEMENT ........................................................................................................................................................ 72

• 27. SUBSEQUENT EVENTS .............................................................................................................................................................. 73

SCHEDULE A - DEBT SECURITIES AT FAIR VALUE THROUGH PROFIT OR LOSS, OTHER DEBT SECURITIES, EQUITY

INSTRUMENTS ............................................................................................................................................................................................ 74 SCHEDULE B - CLASSIFICATION OF LOANS AND OTHER FINANCING CREDIT ACCORDING TO STATUS AND

COLLATERAL RECEIVED ........................................................................................................................................................................ 78

SCHEDULE C - CONCENTRATION OF LOANS AND OTHER FINANCING .................................................................................... 80

SCHEDULE D - BREAKDOWN OF TOTAL LOANS AND OTHER FINANCING ............................................................................ 81

SCHEDULE F - PROPERTY, PLANT AND EQUIPMENT ..................................................................................................................... 82

SCHEDULE G - INTANGIBLE ASSETS ................................................................................................................................................... 83

SCHEDULE H - CONCENTRATION OF DEPOSITS ............................................................................................................................. 84

SCHEDULE I - BREAKDOWN OF FINANCIAL LIABILITIES FROM REMAINING TERMS ....................................................... 85

SCHEDULE L - ASSETS AND LIABILITIES IN FOREIGN CURRENCY ........................................................................................... 86

SCHEDULE R - ALLOWANCE FOR LOAN LOSSES ............................................................................................................................ 87

SEPARATE STATEMENT OF FINANCIAL POSITION ........................................................................................................................ 95

SEPARATE STATEMENT OF COMPREHENSIVE INCOME .............................................................................................................. 96

EARNING PER SHARE ............................................................................................................................................................................... 97

SEPARATE STATEMENT OF CHANGES IN SHAREHOLDERS´ EQUITY ....................................................................................... 99

SEPARATE STATEMENT OF CASH FLOW ......................................................................................................................................... 101

• 1. ACCOUNTING STANDARDS AND BASIS OF PREPARATION ......................................................................................... 102

• 2. FINANCIAL INSTRUMENTS ................................................................................................................................................... 113

• 3. FAIR VALUES ............................................................................................................................................................................ 113

• 4. INVESTMENT IN SUBSIDIARIES AND ASSOCIATES ....................................................................................................... 115

• 5. COMPOSITION OF THE MAIN ITEMS OF THE SEPARATE STATEMENT OF COMPREHENSIVE INCOME ..... 116

• 6. RESTRICTED ASSETS .............................................................................................................................................................. 118

• 7. COMPANIES UNDER SECT, 33 OF CORPORATE LAW AND OTHER RELATED COMPANIES .............................. 118

• 8. INCOME TAX - DEFERRED TAX .......................................................................................................................................... 122

• 9. LOAN AND DEBT ESTIMATED TERMS ............................................................................................................................... 124

• 10. CAPITAL STOCK ...................................................................................................................................................................... 124

• 11. FINANCIAL RISK FACTORS .................................................................................................................................................. 125

• 12. RESTRICTIONS ON THE DISTRIBUTION OF PROFITS .................................................................................................. 127

• 13. ECONOMIC CONTEXT IN WHICH THE COMPANY OPERATES .................................................................................. 127

• 14. SUBSEQUENT EVENTS ............................................................................................................................................................ 128

SCHEDULE A - DETAILS OF PUBLIC AND PRIVATE SECURITIES ............................................................................................. 129

SCHEDULE G - INTANGIBLE ASSETS ................................................................................................................................................. 130

SCHEDULE L - ASSETS AND LIABILITIES IN FOREIGN CURRENCY ........................................................................................ 131

Consolidated Financial Statements

For the financial year ended on

December 31, 2023, presented on comparative basis in homogeneous currency

1

GRUPO SUPERVIELLE S.A.

Name: Financial year:

Legal Address:

Core Business:Grupo Supervielle S.A.

N° 48 started on January 1, 2023

Reconquista 330

Ciudad Autónoma de Buenos Aires

Carry out, on its own account or third parties' or related to third parties, in the country or abroad, financing activities through cash or instrument contributions to already-existing or to-be-set-up corporations, whether controlling such corporations or not, as well as the purchase and sale of securities, shares, debentures and any kind of property values, granting of fines and/or guarantees, set up or transfer of loans as guarantee, including real, or without it not including operations set forth by the Financial Entities Law and any other requiring public bidding.

Registration Number at the IGP:

212,617

Date of Registration at IGP:

October 15, 1980

Amendment of by-laws (last):

October 9, 2023

Expiration date of the Company's By-Laws:

Corporations Article 33 Companies general Law

October 15, 2079

Note 7 to Separate Financial Statements

Composition of Capital Stock as of December 31, 2023

Shares	Capital Stock
Quantity	Class	N.V. $	Votes per share	Subscribed in thousands of $	Integrated in thousands of $
61,738,188	A: Non endorsable, common shares of a nominal value	1	5	61,738	61,738
394,984,134	B: Non endorsable, common shares of a nominal value	1	1	394,984	394,984
456,722,322	456,722	456,722

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As of December 31, 2023 and 2022

(Expressed in thousands of pesos in homogeneous currency)

ASSETS Cash and due from banks Cash Financial institutions and correspondents Argentine Central Bank Other local and financial institutions Others Debt Securities at fair value through profit or loss Derivatives Reverse Repo transactions Other financial assets Loans and other financing To the non-financial public sector To the financial sector To the Non-Financial Private Sector and Foreign residents Other debt securities Financial assets pledged as collateral Current income tax assets Investments in equity instruments Property, plant and equipment Investment property Intangible assets Deferred income tax assets Other non-financial assets Inventories TOTAL ASSETS	Notes and Schedules	12/31/2023	12/31/2022
6 and 10 6, 10, 13.1 and A 13.2 and 6 6 and 13.3 6, 10 and 13.4 6,13.5 and B 6, 13.6 and A 6 and 13.7 6 and A F F G 13.8 13.9	229,098,272 114,005,581 113,876,931 103,634,933 10,241,998 1,215,760 33,532,464 3,795,093 755,708,132 46,591,600 487,270,553 2,070,115 4,006,546 481,193,892 266,167,234 46,382,606 - 365,985 51,151,635 45,597,064 67,634,055 12,208,548 17,613,321 -	150,719,643 59,547,824 91,082,732 84,654,328 6,428,404 89,087 55,050,569 920,381 67,206,248 25,246,191 727,841,878 864,785 2,007,125 724,969,968 863,162,491 45,056,529 3,039,566 1,565,010 57,217,390 52,637,396 69,368,706 37,030,548 15,597,908 208,923
2,063,116,562	2,171,869,377

The accompanying notes and schedules are an integral part of the Consolidated Financial Statement.

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As of December 31, 2023 and 2022

(Expressed in thousands of pesos in homogeneous currency)

LIABILITIES Deposits Non-financial public sector Financial sector Non-financial private sector and foreign residents Liabilities at fair value through profit or loss Repo Transactions Other financial liabilities Financing received from the Argentine Central Bank and other financial institutions Unsubordinated debt securities Current income tax liability Provisions Deferred income tax liabilities Other non-financial liabilities TOTAL LIABILITIES SHAREHOLDERS' EQUITY Capital stock Paid in capital Capital Adjustments Own shares in portfolio Comprehensive adjustment of shares in portfolio Cost of treasury stock Reserve Retained earnings Other comprehensive income Net income for the period / year Shareholders' Equity attributable to owners of the parent company Shareholders' Equity attributable to non-controlling interests TOTAL SHAREHOLDERS' EQUITY TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	Notes and Schedules	12/31/2023	12/31/2022
6, 13.10 and H	1,548,928,056	1,705,009,583 86,705,591 315,861
6 and 13.11 6 6 and 13.12 6 and 13.13 6 13.14 13.15	100,747,830 476,539 1,447,703,687 607,903 940,332 72,738,928 2,691,969 - 737,181 14,897,667 1,622,851 76,890,422
1,617,988,131 6,661,539 - 56,381,855
17,219,834
1,748,271 - 5,267,946 566,880 89,671,057
1,720,055,309	1,882,526,965
444,411 264,229,227 28,325,583 12,311 2,580,272 (4,307,608) 19,308,569 (11,037,209) 3,220,774 (13,663,244)
442,672 254,538,548 27,960,909 14,050 2,944,946 (5,166,412) 4,307,608 (8,813) 6,389,921 51,363,131 342,786,560 274,693
289,113,086 229,326
343,061,253	289,342,412
2,063,116,562	2,171,869,377

The accompanying notes and schedules are an integral part of the Consolidated Financial Statements.

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

As of December 31, 2023 and 2022

(Expressed in thousands of pesos in homogeneous currency)

Service fee income Service fee expenses

Income from insurance activities

Net Service Fee Income Subtotal

Net income from financial instruments (NIFFI) at fair value through profit or loss

Result from assets withdrawals rated at amortized cost Exchange rate difference on gold and foreign currency Subtotal

Other operating income

Result from exposure to changes in the purchasing power of the currency

Loan loss provisions Net operating income Personnel expenses Administration expenses

Depreciations and impairment of non-financial assets Other operating expenses

Operating income

(Loss) before taxes from continuing operations Income tax

Net (loss) for the period

Net (loss) for the period attributable to owners of the parent company Net (loss) for the period attributable to non-controlling interests Service fee income

Service fee expenses

Income from insurance activities

Notas y Anexos 13.16 13.17

1.204.647.904 (823.822.876)

13.19 13.20

16

13.18

13.21

23.698.450 (111.414.836) (31.621.286) 456.712.959

13.22 13.23 13.24 13.25

(160.395.452) (84.438.694) (32.217.576) (93.016.073)

The accompanying notes and schedules are an integral part of the Consolidated Financial Statements.

12/31/2023

12/31/2022

787.571.730 (515.399.394)

380.825.028

272.172.336

93.125.252 (24.176.077)

94.478.177 (33.392.724)

14.409.469 83.358.644 464.183.672

14.095.468 75.180.921 347.353.257

85.964.720 20.101.331 5.800.908

59.423.414 1.531.618 8.541.784

111.866.959

69.496.816

27.803.813 (55.416.058) (41.854.025) 347.383.803

(167.825.508) (88.946.808) (31.447.803) (82.926.938)

86.645.164 86.645.164 35.240.892 51.404.272 51.363.131 41.141

(23.763.254) (23.763.254)

(10.084.952)

(13.678.302)

(13.663.244)

(15.058)

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

EARNING PER SHARE

As of December 31, 2023 and 2022

(Expressed in thousands of pesos in homogeneous currency)

12/31/2023	12/31/2022
NUMERATOR Net (loss) for the period attributable to owners of the parent company PLUS: Diluting events inherent to potential ordinary shares Net (loss) attributable to owners of the parent company adjusted by dilution DENOMINATOR Weighted average of ordinary shares PLUS: Weighted average of number of ordinary shares issued with dilution effect. NUMERATOR Net (loss) for the period attributable to owners of the parent company Basic Income per share Diluted Income per share	51,363,131 - 51,363,131 442,727 - 442,727 116.02 116.02	(13,663,244) - (13,663,244) 454,274 - 454,274 (30.08) (30.08)

The accompanying notes and schedules are an integral part of the Consolidated Financial Statements.

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

As of December 31, 2023 and 2022

(Expressed in thousands of pesos in homogeneous currency)

12/31/2023	12/31/2022
Net (loss) for the period	51,404,272	(13,678,302)
Components of Other Comprehensive Income not to be reclassified to profit or loss
Net income from equity instrument at fair value through changes in other comprehensive income	(1,181,067)	(1,697,346)
Income for the period from equity instrument at fair value through other comprehensive income	(1,817,026)	(2,611,299)
Income tax	635,959	913,953
Net (loss) / income from equity instruments at fair value through other comprehensive income	(457,573)	(95,141)
(loss) / income from equity instruments at fair value through other comprehensive income Income tax	(703,959) 246,386	(146,374) 51,233
Total Other Comprehensive Income not to be reclassified to profit or loss	(1,638,640)	(1,792,487)
Components of Other Comprehensive Income to be reclassified to profit or loss
Foreign currency translation difference in financial statements conversion	442,857	190,121
Foreign currency translation differences for the period (Loss) from financial instrument at fair value through changes in other comprehensive income	442,857 4,369,156	190,121 (2,543,177)
(Loss) for the year from financial instrument at fair value through other comprehensive income Income tax	6,891,776 (2,522,620)	(3,904,410) 1,361,233
Total Other Comprehensive Income to be reclassified to profit or loss	4,812,013	(2,353,056)
Total Other Comprehensive Income	3,173,373	(4,145,543)
Other comprehensive income attributable to owners of the parent company Other comprehensive income attributable to non-controlling interests	3,169,147 4,226	(4,141,273) (4,270)
Total Comprehensive (Loss)	54,577,645	(17,823,845)
Total comprehensive (loss) attributable to owners of the parent company Total comprehensive (loss) attributable to non-controlling interests	54,532,278 45,367	(17,804,517) (19,328)

The accompanying notes and schedules are an integral part of the Consolidated Financial Statements

7

GRUPO SUPERVIELLE S.A.

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS´ EQUITY

For the financial years ended on December 31, 2023 and 2022

(Expressed in thousands of pesos in homogeneous currency)

Items	Capital Stock	Inflation adjustmen t of capital stock	Paid in capital	Treasury shares	Inflation adjustme nt of treasury shares	Cost of of treasury shares	Legal reserve	Other reserves	Retained earnings	Other comprehensive income	Total Shareholde rs´ equity attributable to parent company	Total Shareholders´ equity attributable to non-controlling interest	Total shareholders ´ equity
Revaluation of PPE	Foreign currency translation differences	Earnings or los accrued by financial institutions at FV through profit and loss
Balance at December 31, 2022	444,411	28,325,583	264,229,227	12,311	2,580,272	(4,307,608)	3,226,099	16,082,470	(24,700,453)	3,262,160	192,578	(233,964)	289,113,086	229,326	289,342,412
Consideration of results approved by the General Assembly of Shareholders held on April 27, 2023:
Disposal of reservations	-	-	(9,690,679)	-	-	-	(3,226,099)	(11,774,862)	24,691,640	-	-	-	-	-	-
Acquisition of treasury shares	(1,739)	(364,674)	-	1,739	364,674	(858,804)	-	-	-	-	-	-	(858,804)	-	(858,804)
Net income for the period	-	-	-	-	-	-	-	-	51,363,131	-	-	-	51,363,131	41,141	51,404,272
Other comprehensive loss for the period	-	-	-	-	-	-	-	-	-	(1,180,526)	442,857	3,906,816	3,169,147	4,226	3,173,373
Balance at December 31, 2023	442,672	27,960,909	254,538,548	14,050	2,944,946	(5,166,412)	-	4,307,608	51,354,318	2,081,634	635,435	3,672,852	342,786,560	274,693	343,061,253

The accompanying notes and schedules are an integral part of the Consolidated Financial.