Banco Macro (BMA) investor relations material

Executive summary

• Net income reached ARS 139.8 billion in Q1 2026, up 28% sequentially and 131% year-over-year, with ROE at 10% (10.9% adjusted) and ROA at 2.4% (2.6% adjusted). Excluding restructuring expenses, net income was ARS 152.9 billion.

• Operating income after expenses rose 15% quarter-over-quarter and 24% year-over-year to ARS 569.8 billion.

• Total financing decreased 9% sequentially but increased 5% year-over-year to ARS 10.63 trillion; total deposits were ARS 13.99 trillion, down 7% sequentially but up 10% year-over-year.

• The bank maintained strong solvency with excess capital of ARS 4 trillion and a capital adequacy ratio of 32.4%.

• Non-performing loan ratio rose to 5.4%, with a coverage ratio of 109.79%.

Financial highlights

• Net interest income totaled ARS 975.2 billion, up 7% sequentially and 27% year-over-year.

• Net interest margin (including FX) was 25.3%, up from 21.7% in Q4 2025.

• Administrative expenses plus employee benefits fell 22% quarter-over-quarter, but rose 3% year-over-year.

• Provision for loan losses totaled ARS 238.8 billion, up 29% sequentially and 173% year-over-year.

• Efficiency ratio improved to 32% from 38.7% in Q4 2025.

Outlook and guidance

• Loan growth guidance maintained at 42% nominal for 2026, with 28% inflation assumption.

• Deposit growth guidance maintained at 34% nominal for the year.

• ROE guidance remains at 8% adjusted, with potential for upward revision if positive trends continue.

• Cost of risk expected between 5.5% and 6%.

• Forward-looking statements highlight risks from inflation, interest rates, regulation, credit quality, and macroeconomic conditions in Argentina.