6-K

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

November 24, 2021

Commission File Number: 001-32827

MACRO BANK INC.

(Translation of registrant’s name intoEnglish)

Avenida Eduardo Madero 1182

Ciudad Autónoma de Buenos Aires C1106 ACY

Tel: 54 11 5222 6500

(Address of registrant’s principal executiveoffices)

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

3Q21 Earnings Release

Banco Macro AnnouncesResults for the Third Quarter of 2021

Buenos Aires,Argentina, November 24, 2021 – Banco Macro S.A. (NYSE: BMA; BYMA: BMA) (“Banco Macro” or “BMA” or the “Bank”) announced today its results for the third quarter ended September 30, 2021 (“3Q21”). All figures are in Argentine pesos (Ps.) and have been restated in terms of the measuring unit current at the end of the reporting period. As of 1Q20, the Bank began reporting results applying Hyperinflation Accounting, in accordance with IFRS IAS 29 as established by the Central Bank. For ease of comparison, figures of previous quarters of 2020 have been restated applying IAS 29 to reflect the accumulated effect of the inflation adjustment for each period through September 30, 2021.

Summary

• TheBank’s net income totaled Ps.7.4 billion in 3Q21. This result was 46% higher than the result posted in 2Q21 and similar to theone registered in 2Q20. In 3Q21, the accumulated annualized return on average equity (“ROAE”) and the annualized return onaverage assets (“ROAA”) were 10% and 2.2%, respectively. Total comprehensive income was Ps.7.4 billion, 40% higher than in2Q21 and 13% lower than a year ago.

• In3Q21, Banco Macro’s financing to the private sector increased 5% or Ps.13.3 billion quarter over quarter (“QoQ”) totalingPs.305.9 billion and decreased 14% or Ps.48.2. billion year over year (“YoY”). Within commercial lending Overdrafts and Othersstand out with a 14% and 26% increase respectively; meanwhile within consumer lending pledged loans and credit card loans stand out witha 46% and 3% increase respectively.

• In3Q21, Banco Macro’s total deposits increased 1% or Ps.4.1 billion QoQ, totaling Ps.542.1 billion and representing 78% of the Bank’stotal liabilities. Private sector deposits increased 1% or Ps.6.6 billion QoQ.

•Banco Macro continued showing a strong solvency ratio, with an excess capital of Ps.183 billion, 37.2% regulatory capital ratio – Basel III and 30.4% Tier 1 Ratio. In addition, the Bank’s liquid assets remained at an adequate level, reaching 90% ofits total deposits in 3Q21.

• In3Q21, the Bank’s non-performing to total financing ratio was 1.67% and the coverage ratio reached 175.9%.

3Q21 Earnings Release Conference Call			****
****			IR Contacts in Buenos Aires:
Monday, November 29, 2021			****
Time: 11:00 a.m. Eastern Time	1:00 p.m. Buenos Aires Time			Jorge Scarinci
****			Chief Financial Officer
To participate, please dial:			****
Argentina Toll Free:			Nicolás A. Torres
(011) 3984 5677			Investor Relations
Participants Dial In (Toll Free):	Webcast Replay:	click here	****
+1 (844) 450 3847			Phone: (54 11) 5222 6682
Participants International Dial In:	Available from 11/29/2021 through 12/13/2021		E-mail: investorelations@macro.com.ar
+1 (412) 317 6370			****
Conference ID: Banco Macro			Visit our website at:
Webcast: click here			www.macro.com.ar/relaciones-inversores

| 2 |

| --- | | 3Q21 Earnings Release | | --- |

Disclaimer

This press release includes forward-looking statements. We have based these forward-looking statements largely on our current beliefs, expectations and projections about future events and financial trends affecting our business. Many important factors could cause our actual results to differ substantially from those anticipated in our forward-looking statements, including, among other things: inflation; changes in interest rates and the cost of deposits; government regulation; adverse legal or regulatory disputes or proceedings; credit and other risks of lending, such as increases in defaults by borrowers; fluctuations and declines in the value of Argentine public debt; competition in banking and financial services; deterioration in regional and national business and economic conditions in Argentina; and fluctuations in the exchange rate of the peso.

The words “believe,” “may,” “will,” “aim,” “estimate,” “continue,” “anticipate,” “intend,” “expect” and similar words are intended to identify forward-looking statements. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, financing plans, competitive position, industry environment, potential growth opportunities, the effects of future regulation and the effects of competition. Forward-looking statements speak only as of the date they were made, and we undertake no obligation to update publicly or to revise any forward-looking statements after we distribute this press release because of new information, future events or other factors. In light of the risks and uncertainties described above, the forward-looking events and circumstances discussed in this press release might not occur and are not guarantees of future performance.

This report is a summary analysis of Banco Macro's financial condition and results of operations as of and for the period indicated. For a correct interpretation, this report must be read in conjunction with all other material periodically filed with the Comisión Nacional de Valores (www.cnv.gob.ar), the Securities and Exchange Commission (www.sec.gov), Bolsas y mercados Argentinos (www.byma.com.ar) and the New York Stock Exchange (www.nyse.com). In addition, the Central Bank (www.bcra.gov.ar) may publish information related to Banco Macro as of a date subsequent to the last date for which the Bank has published information.

Readers of this report must note that this is a translation made from an original version written and expressed in Spanish. Consequently, any matters of interpretation should be referred to the original version in Spanish.

| 3 |

| --- | | 3Q21 Earnings Release | | --- |

This EarningsRelease has been prepared in accordance with the accounting framework established by the Central Bank of Argentina (“BCRA”),based on International Financial Reporting Standards (“I.F.R.S.”) and the resolutions adopted by the International AccoutingStandards Board (“I.A.S.B”) and by the Federación Argentina de Consejos Profesionales de Ciencias Económicas(“F.A.C.P.E.”). As of January 2020 the Bank started reporting with the application of (i) Expected losses of IFRS9 “Financial Instruments” and (ii) IAS 29 “Financial Reporting in Hyperinflationary Economies”. Data andfigures shown in this Earnings Release may differ from the ones shown in the 20-F annual report. As of fiscal year 2021, the monetaryresult accrued by items of a monetary nature measured at fair value with changes in Other Comprehensive Income (OCI), is recorded inthe Result form the Net Monetary Position integrating the Net Result of the period in accordance with Communication “A” 7211of the Central Bank of Argentina. Previous quarters of 2020 have been restated in accordance with said Communication in order to makea comparison possible.

Results

Earnings per outstanding share were Ps.11.5 in 3Q21, 46% higher than in 2Q21 and slightly lower than the result posted a year ago.

EARNINGS PER<br> SHARE										Change
In MILLION (Measuring Unit Current at EOP)		4Q20		1Q21		2Q21		3Q21		QoQ			YoY
Net income -Parent<br> Company- (M )	7,370		4,349		2,651		5,046		7,355		46	%		0	%
Average # of shares outstanding (M)	639		639		639		639		639		0	%		0	%
Average #of treasury stocks (shares<br> repurchased) (M)	0		0		0		-		-		-			-100	%
Book value per avg. Outstanding share ()	320		317		323		312		324		4	%		1	%
Shares Outstanding (M)	639		639		639		639		639		0	%		0	%
Earnings per avg.  outstanding share<br> ()	11.52		6.81		4.15		7.90		11.50		46	%		0	%
EOP FX (Pesos per )	76.1750		84.1450		91.9850		95.7267		98.7350		3	%		30	%
Book value per avg. issued ADS<br> ()	42.01		37.67		35.11		32.59		32.82		1	%		-22	%
Earnings per avg. outstanding<br> ADS ()	1.51		0.81		0.45		0.82		1.16		41	%		-23	%

All values are in US Dollars.

Banco Macro’s 3Q21 net income of Ps.7.4 billion was 46% or Ps.2.3 billion higher than the previous quarter and Ps.15 million lower YoY. This result represented an annualized ROAE and ROAA of 14.6% and 3.3% respectively. Total comprehensive income was Ps.7.4 billion, 40% or Ps.2.1 billion higher than in 2Q21 and 13% or Ps.1.1 billion lower than the same period of last year.

Net operating income (before G&A and personnel expenses) was Ps.43.2 billion in 3Q21, Ps.87 million higher compared to 2Q21. On a yearly basis Net operating income decreased 5% or Ps.2.3 billion due to lower net interest income and lower net fee income.

In 3Q21 Provision for loan losses totaled Ps.212 million, decreasing 9% or Ps.20 million compared with the previous quarter. It should be noted that in previous quarters of last year loan loss provisions were explained by additional provisions made by the Bank based on estimations of the macroeconomic impact of the current Covid-19 pandemic. On a yearly basis Provision for loan losses were 92% or Ps.2.5 billion lower.

Operating income (after G&A and personnel expenses) was Ps.20.5 billion in 3Q21, 4% or Ps.790 million lower than in 2Q21 and 8% or Ps.1.8 billion lower than a year ago.

It is important to emphasize that this result was obtained with a leverage of only 4.3x assets to equity ratio.

| 4 |

| --- | | 3Q21 Earnings Release | | --- | | INCOME STATEMENT | MACRO<br> Consolidated | | | | | | | | | | Change | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | In MILLION $ (Measuring<br> Unit Current at EOP) | 3Q20 | | 4Q20 | | 1Q21 | | 2Q21 | | 3Q21 | | QoQ | | | YoY | | | | Net Interest Income | | 32,261 | | 29,816 | | 28,893 | | 27,848 | | 29,747 | | 7 | % | | -8 | % | | Net fee income | | 8,037 | | 7,752 | | 7,188 | | 7,392 | | 7,825 | | 6 | % | | -3 | % | | Net Interest Income + Net<br> Fee Income | | 40,298 | | 37,568 | | 36,081 | | 35,240 | | 37,572 | | 7 | % | | -7 | % | | Net Income from financial<br> instruments  at fair value through P&L | | 4,116 | | 4,496 | | 5,530 | | 5,772 | | 3,457 | | -40 | % | | -16 | % | | Income from assets at amortized<br> cost | | 94 | | 172 | | 72 | | 67 | | 0 | | -100 | % | | -100 | % | | Differences in quoted prices<br> of gold and foreign currency | | 1,841 | | 1,742 | | 1,474 | | 699 | | 592 | | -15 | % | | -68 | % | | Other operating income | | 1,801 | | 1,906 | | 1,999 | | 1,540 | | 1,764 | | 15 | % | | -2 | % | | Provision for loan losses | | 2,668 | | 2,957 | | 3 | | 232 | | 212 | | -9 | % | | -92 | % | | Net Operating Income | | 45,482 | | 42,927 | | 45,153 | | 43,086 | | 43,173 | | 0 | % | | -5 | % | | Employee benefits | | 9,452 | | 9,390 | | 8,800 | | 9,174 | | 9,024 | | -2 | % | | -5 | % | | Administrative expenses | | 5,184 | | 5,337 | | 4,140 | | 4,247 | | 4,493 | | 6 | % | | -13 | % | | Depreciation and impairment of<br> assets | | 1,548 | | 1,524 | | 1,561 | | 1,568 | | 1,657 | | 6 | % | | 7 | % | | Other operating expenses | | 6,994 | | 6,832 | | 7,706 | | 6,850 | | 7,542 | | 10 | % | | 8 | % | | Operating Income | | 22,304 | | 19,844 | | 22,946 | | 21,247 | | 20,457 | | -4 | % | | -8 | % | | Result from associates &<br> joint ventures | | 23 | | -81 | | 27 | | 21 | | -1 | | - | | | - | | | Result from net monetary postion | | -10,133 | | -14,570 | | -17,512 | | -14,816 | | -12,816 | | -13 | % | | 26 | % | | Result before taxes from<br> continuing operations | | 12,194 | | 5,193 | | 5,461 | | 6,452 | | 7,640 | | 18 | % | | -37 | % | | Income tax | | 4,824 | | 844 | | 2,810 | | 1,406 | | 285 | | -80 | % | | -94 | % | | Net income from continuing<br> operations | | 7,370 | | 4,349 | | 2,651 | | 5,046 | | 7,355 | | 46 | % | | 0 | % | | | | | | - | | - | | | | | | | | | | | | Net Income of the period | | 7,370 | | 4,349 | | 2,651 | | 5,046 | | 7,355 | | 46 | % | | 0 | % | | Net income of the period<br> attributable  to parent company | | 7,370 | | 4,349 | | 2,651 | | 5,046 | | 7,355 | | 46 | % | | 0 | % | | Net income of the period<br> attributable  to minority interest | | - | | - | | - | | - | | - | | - | | | - | | | Other Comprehensive Income | | 1,164 | | -162 | | 712 | | 233 | | 58 | | -75 | % | | -95 | % | | Foreign currency translation<br> differences in financial statements conversion | | 79 | | -30 | | -117 | | -219 | | -184 | | - | | | - | | | Profits or losses from financial<br> assets measured at fair value  through other comprehensive income (FVOCI)  (IFRS 9(4.1.2)(a) | | 1,085 | | -132 | | 829 | | 452 | | 242 | | -46 | % | | -78 | % | | TOTAL COMPREHENSIVE INCOME<br> FOR THE PERIOD | | 8,534 | | 4,187 | | 3,363 | | 5,279 | | 7,413 | | 40 | % | | -13 | % | | Total Comprehensive Income<br> attributable to parent Company | | 8,534 | | 4,187 | | 3,363 | | 5,279 | | 7,413 | | 40 | % | | -13 | % | | Total Comprehensive Income<br> attributable to non-controlling interests | | - | | - | | - | | - | | - | | - | | | - | |

The Bank’s 3Q21 net interest income totaled Ps.29.7 billion, 7% or Ps.1.9 billion higher than in 2Q21 and 8% or Ps.2.5 billion lower YoY as a result of different regulations adopted that set caps on lending rates and floors on deposit rates.

In 3Q21 interest income totaled Ps.49.9 billion, 3% or Ps.1.5 billion higher than in 2Q21 and 11% or Ps. 6.2 billion lower than in 3Q20.

Income from interest on loans and other financing totaled Ps.24.9 billion, 1% or Ps.347 million lower compared with the previous quarter, due to a 1% decrease in the average volume of loans and a 9 b.p decrease in the average lending rates. On a yearly basis Income from interest on loans decreased 8% or Ps.2.2 billion.

In 3Q21 income from government and private securities increased 5% or Ps.1.2 billion QoQ (due to higher income from Government securities partially offset by lower income from private securities) and decreased 12% or Ps.3 billion compared with the same period of last year. This result is explained 94% by income from government and private securities through other comprehensive income (Leliqs and Other government securities) and the remaining 6% is explained by income from sovereign bonds in pesos at amortized cost.

| 5 |

| --- | | 3Q21 Earnings Release | | --- |

In 3Q21 income from Repos totaled Ps.2.2 billion, 48% or Ps.706 million higher than the previous quarter and 32% or Ps.1 billion lower than a year ago.

In 3Q21 FX income totaled Ps.592 million, 15% or Ps.107 million lower than the previous quarter and 68% or Ps.1.2 billion lower than a year ago, due to a lower rate of depreciation of the Argentine peso.

FX INCOME				Variation
In MILLION (Measuring Unit Current at EOP)
(1)Differences in quoted prices of gold and foreign currency	1,840	699	592		-15	%	-68	%
Translation of FX assets and liabilities to Pesos	1,144	628	459		-27	%	-60	%
Income from foreign currency exchange	696	71	133		86	%	-81	%
(2)Net Income from financial assets and liabilities at fair value through P&L	2	0	0		-		-100	%
Income from investment in derivative financing instruments	2	-	-		-		-100	%
(1)+(2)Total Result from Differences in quoted prices of gold and foreign currency	1,842	699	592		-15	%	-68	%

All values are in US Dollars.

INTEREST INCOME	MACRO Consolidated										Change
In MILLION $ (Measuring Unit Current at EOP)	3Q20		4Q20		1Q21		2Q21		3Q21		QoQ			YoY
Interest on Cash and due from Banks		44		3		3		3		3		0	%		-93	%
Interest from government securities		25,359		26,468		24,935		21,525		22,726		6	%		-10	%
Interest from private securities		402		221		125		71		44		-38	%		-89	%
Interest on loans and other financing
To the financial sector		300		241		204		145		139		-4	%		-54	%
To the public non financial sector		885		675		560		446		360		-19	%		-59	%
Interest on overdrafts		2,092		1,881		2,057		1,590		1,813		14	%		-13	%
Interest on documents		1,215		1,602		1,678		1,792		2,315		29	%		91	%
Interest on mortgages loans		2,366		3,136		3,703		3,711		2,999		-19	%		27	%
Interest on pledged loans		161		148		134		159		256		61	%		59	%
Interest on personal loans		10,911		10,899		11,211		10,816		10,611		-2	%		-3	%
Interest on credit cards loans		3,820		3,469		3,292		3,147		3,214		2	%		-16	%
Interest on financial leases		7		13		26		17		0		-100	%		-100	%
Interest on other loans		5,322		4,794		4,216		3,452		3,221		-7	%		-39	%
Interest on Repos
From the BCRA		3,194		3,392		2,519		1,468		2,186		49	%		-32	%
Other financial institutions		15		42		17		17		5		-71	%		-67	%
Total Interest income		56,093		56,984		54,680		48,359		49,892		3	%		-11	%
Income from Interest on loans		27,079		26,858		27,081		25,275		24,928		-1	%		-8	%

The Bank’s 3Q21 interest expense totaled Ps.20.1 billion, decreasing 2% or Ps.366 million compared to the previous quarter and 15% or Ps.3.7 billion lower compared to 3Q20.

In 3Q21, interest on deposits represented 95% of the Bank’s total interest expense, decreasing 1% or Ps.279 million QoQ, due to a 23 b.p. decrease in the average rate paid on deposits while the average volume of deposits from the private sector remained unchanged. On a yearly basis, interest on deposits decreased 14% or Ps.3.2 billion.

| 6 |

| --- | | 3Q21 Earnings Release | | --- | | INTEREST EXPENSE | MACRO Consolidated | | | | | | | | | | Change | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | In MILLION $ (Measuring Unit Current at EOP) | 3Q20 | | 4Q20 | | 1Q21 | | 2Q21 | | 3Q21 | | QoQ | | | YoY | | | | Deposits | | | | | | | | | | | | | | | | | | Interest on checking accounts | | 645 | | 1,670 | | 881 | | 86 | | 98 | | 14 | % | | -85 | % | | Interest on saving accounts | | 190 | | 252 | | 280 | | 306 | | 260 | | -15 | % | | 37 | % | | Interest on time deposits | | 21,579 | | 23,725 | | 23,267 | | 19,086 | | 18,841 | | -1 | % | | -13 | % | | Interest on other financing from BCRA and financial inst. | | 27 | | 49 | | 52 | | 47 | | 22 | | -53 | % | | -19 | % | | Repos | | | | | | | | | | | | | | | | | | Other financial institutions | | 3 | | 119 | | 66 | | 73 | | 74 | | 1 | % | | 2367 | % | | Interest on corporate bonds | | 530 | | 508 | | 427 | | 145 | | 110 | | -24 | % | | -79 | % | | Interest on subordinated bonds | | 842 | | 832 | | 806 | | 763 | | 733 | | -4 | % | | -13 | % | | Interest on other financial liabilities | | 16 | | 13 | | 8 | | 5 | | 7 | | 40 | % | | -56 | % | | Total financial expense | | 23,832 | | 27,168 | | 25,787 | | 20,511 | | 20,145 | | -2 | % | | -15 | % | | Expenses from interest on deposits | | 22,414 | | 25,647 | | 24,428 | | 19,478 | | 19,199 | | -1 | % | | -14 | % |

In 3Q21, the Bank’s net interest margin (including FX) was 19.1%, higher than the 18.8% posted in 2Q21 and the 17.1% posted in 2Q20.

In 3Q21 Net Interest Margin (excluding FX) was 18.8%, higher than the 18.4% posted in 2Q21 and the 16.2% posted in 3Q20.

In 3Q21 Net Interest Margin (Pesos) was 20.8%, higher than the 20.7% posted in 2Q21 and the 18.6% posted in 3Q20; meanwhile Net Interest Margin (USD) was 3.9%, higher than the 3.4% posted in 2Q21 and the 1.8% registered in 3Q20.

ASSETS &<br> LIABILITIES PERFORMANCE (AR$)	MACRO Consolidated
In<br> MILLION $	3Q20					4Q20					1Q21					2Q21					3Q21
(Measuring Unit<br><br><br> Current at EOP)	AVERAGE	REAL INT		NOMINAL		AVERAGE	REAL INT		NOMINAL		AVERAGE	REAL INT		NOMINAL		AVERAGE	REAL INT		NOMINAL		AVERAGE	REAL INT		NOMINAL
Yields & rates<br> in <br><br>annualized nominal %	BALANCE	RATE		INT RATE		BALANCE	RATE		INT RATE		BALANCE	RATE		INT RATE		BALANCE	RATE		INT RATE		BALANCE	RATE		INT RATE
Interest-earning assets
Loans& Other Financing
Public<br> Sector	7,662	11.9	%	46.0	%	5,654	1.7	%	47.5	%	4,510	-1.4	%	50.4	%	3,693	3.1	%	48.4	%	3,122	6.5	%	45.7	%
Financial Sector	2,938	7.7	%	40.5	%	2,564	-5.4	%	37.2	%	2,411	-12.0	%	34.3	%	1,767	-7.7	%	32.9	%	1,544	-0.8	%	35.7	%
Private<br> Sector	307,415	0.9	%	31.6	%	306,677	-9.1	%	31.8	%	291,785	-11.8	%	34.6	%	266,466	-6.3	%	34.9	%	269,371	-2.2	%	33.8	%
Other debt securities
Central Bank Securities (Leliqs)	185,586	5.4	%	37.5	%	164,886	-5.5	%	37.1	%	165,392	-9.9	%	37.5	%	137,742	-4.5	%	37.5	%	129,042	0.5	%	37.5	%
Government& Private Securities	110,046	-0.6	%	29.7	%	137,328	-8.5	%	32.7	%	109,561	-10.8	%	36.1	%	100,322	-6.3	%	34.8	%	124,657	-2.4	%	33.6	%
Repos	66,679	-8.7	%	19.1	%	40,620	-7.9	%	33.6	%	28,422	-10.7	%	36.2	%	16,474	-5.4	%	36.2	%	23,930	-0.4	%	36.3	%
Total interest-earning assets	680,326	1.1	%	31.9	%	657,729	-7.9	%	33.6	%	602,081	-10.9	%	35.9	%	526,464	-5.7	%	35.7	%	551,666	-1.5	%	34.8	%
Fin. Assets through P&L and<br> equity inv.	24,901	27.1	%	65.8	%	45,219	-3.8	%	39.6	%	52,283	-6.3	%	42.9	%	55,309	-1.4	%	41.9	%	36,419	0.6	%	37.7	%
Other Non interest-earning<br> assets	81,573					78,884					71,798					62,629					65,762
Total Non interest-earning<br> assets	106,474					124,103					124,081					117,938					102,181
Total Average Assets	786,800					781,832					726,162					644,402					653,847
Interest-bearing liabilities
Deposits
Public<br> Sector	79,499	-4.3	%	24.8	%	76,726	-12.0	%	27.6	%	44,749	-14.9	%	29.8	%	27,075	-11.1	%	28.0	%	21,534	-6.3	%	28.2	%
Private<br> Sector	341,897	-7.9	%	20.2	%	341,348	-14.8	%	23.6	%	337,790	-17.9	%	25.3	%	285,566	-13.4	%	24.7	%	292,183	-9.4	%	24.0	%
BCRA and other financial institutions	622	1.6	%	32.6	%	749	-7.3	%	34.5	%	817	-14.2	%	30.8	%	739	-10.2	%	29.3	%	380	-2.5	%	33.4	%
Corporate bonds	7,568	-2.0	%	27.9	%	6,879	-10.8	%	29.4	%	6,156	-16.0	%	28.1	%	3,029	-17.2	%	19.2	%	2,405	-13.7	%	18.1	%
Repos	75	-11.2	%	15.9	%	1,557	-10.1	%	30.4	%	863	-14.1	%	31.0	%	979	-9.7	%	29.9	%	1,187	-8.9	%	24.7	%
Total int.-bearing liabilities	429,661	-7.1	%	21.2	%	427,259	-14.2	%	24.5	%	390,375	-17.5	%	25.9	%	317,388	-13.2	%	24.9	%	317,689	-9.2	%	24.2	%
Total non int.-bearing liabilities	226,621					228,577					205,849					200,655					202,748
Total Average Liabilities	656,282					655,836					596,224					518,043					520,437
Assets Performance		54,582					55,515					53,231					46,866					48,357
Liabilities Performance		22,859					26,282					24,941					19,725					19,397
Net Interest Income		31,723					29,233					28,290					27,141					28,960
Total interest-earning assets		680,326					657,729					602,081					526,464					551,666
Net Interest Margin (NIM)		18.6	%				17.7	%				19.1	%				20.7	%				20.8	%

| 7 |

| --- | | 3Q21 Earnings Release | | --- | | ASSETS &<br> LIABILITIES PERFORMANCE USD | MACRO Consolidated | | | | | | | | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | In<br> MILLION $ | 3Q20 | | | | | 4Q20 | | | | | 1Q21 | | | | | 2Q21 | | | | | 3Q21 | | | | | | (Measuring Unit<br> <br><br>Current at EOP) | AVERAGE | REAL INT | | NOMINAL | | AVERAGE | REAL INT | | NOMINAL | | AVERAGE | REAL INT | | NOMINAL | | AVERAGE | REAL INT | | NOMINAL | | AVERAGE | REAL INT | | NOMINAL | | | Yields &<br> rates in<br><br> annualized nominal % | BALANCE | RATE | | INT RATE | | BALANCE | RATE | | INT RATE | | BALANCE | RATE | | INT RATE | | BALANCE | RATE | | INT RATE | | BALANCE | RATE | | INT RATE | | | Interest-earning assets | | | | | | | | | | | | | | | | | | | | | | | | | | | Cash and Deposits in Banks | 68,002 | 1.7 | % | 0.3 | % | 69,555 | -2.4 | % | 0.0 | % | 71,364 | -9.7 | % | 0.0 | % | 53,346 | -19.2 | % | 0.0 | % | 50,406 | -17.8 | % | 0.0 | % | | Loans & Other Financing | | | | | | | | | | | | | | | | | | | | | | | | | | | Financial<br> Sector | 85 | 6.2 | % | 4.7 | % | 36 | 8.5 | % | 11.1 | % | 28 | 0.0 | % | 0.0 | % | 8 | 0.0 | % | 0.0 | % | 0 | 0.0 | % | 0.0 | % | | Private Sector | 37,931 | 16.8 | % | 15.2 | % | 33,171 | 14.8 | % | 17.6 | % | 29,301 | 8.1 | % | 19.7 | % | 25,949 | -0.8 | % | 22.7 | % | 20,812 | 5.7 | % | 28.6 | % | | Other debt securities | | | | | | | | | | | | | | | | | | | | | | | | | | | Government &<br> Private Securities | 6,988 | 2.5 | % | 1.1 | % | 8,170 | 0.0 | % | 0.0 | % | 6,860 | -8.5 | % | 1.3 | % | 4,001 | -17.5 | % | 2.1 | % | 7,847 | -16.4 | % | 1.7 | % | | Total interest-earning assets | 113,006 | 6.8 | % | 5.3 | % | 110,932 | 2.8 | % | 5.3 | % | 107,553 | -4.7 | % | 5.5 | % | 83,304 | -13.4 | % | 7.2 | % | 79,065 | -11.5 | % | 7.7 | % | | Non interest-earning assets | 141,847 | | | | | 128,863 | | | | | 135,826 | | | | | 135,996 | | | | | 140,922 | | | | | | Total Average Assets | 254,853 | | | | | 239,795 | | | | | 243,379 | | | | | 219,300 | | | | | 219,987 | | | | | | Interest-bearing liabilities | | | | | | | | | | | | | | | | | | | | | | | | | | | Deposits | | | | | | | | | | | | | | | | | | | | | | | | | | | Public Sector | 1,184 | 2.1 | % | 0.7 | % | 1,126 | -2.0 | % | 0.4 | % | 1,763 | -9.5 | % | 0.2 | % | 2,753 | -19.1 | % | 0.1 | % | 2,675 | -17.7 | % | 0.1 | % | | Private Sector | 76,763 | 2.1 | % | 0.7 | % | 65,248 | -2.1 | % | 0.3 | % | 68,385 | -9.5 | % | 0.2 | % | 63,944 | -19.0 | % | 0.2 | % | 61,754 | -17.7 | % | 0.1 | % | | BCRA and other financial institutions | 779 | 6.6 | % | 5.1 | % | 772 | 2.1 | % | 4.6 | % | 467 | -5.8 | % | 4.3 | % | 647 | -17.7 | % | 1.9 | % | 505 | -15.3 | % | 3.1 | % | | Subordinated bonds | 46,975 | 8.6 | % | 7.1 | % | 46,368 | 4.6 | % | 7.1 | % | 45,956 | -3.3 | % | 7.1 | % | 43,358 | -13.4 | % | 7.1 | % | 41,232 | -12.0 | % | 7.1 | % | | Total int.-bearing liabilities | 125,701 | 4.6 | % | 3.1 | % | 113,514 | 0.7 | % | 3.1 | % | 116,571 | -7.0 | % | 3.0 | % | 110,702 | -16.8 | % | 2.9 | % | 106,166 | -15.5 | % | 2.8 | % | | Total non int.-bearing liabilities | 59,790 | | | | | 55,666 | | | | | 56,181 | | | | | 38,588 | | | | | 47,228 | | | | | | Total Average liabilities | 185,491 | | | | | 169,180 | | | | | 172,752 | | | | | 149,290 | | | | | 153,394 | | | | | | Assets Performance | | 1,511 | | | | | 1,469 | | | | | 1,449 | | | | | 1,493 | | | | | 1,535 | | | | | Liabilities Performance | | 991 | | | | | 898 | | | | | 853 | | | | | 791 | | | | | 755 | | | | | Net Interest Income | | 520 | | | | | 571 | | | | | 596 | | | | | 702 | | | | | 780 | | | | | Total interest-earning assets | | 113,006 | | | | | 110,932 | | | | | 107,553 | | | | | 83,304 | | | | | 79,065 | | | | | Net Interest Margin (NIM) | | 1.8 | % | | | | 2.0 | % | | | | 2.2 | % | | | | 3.4 | % | | | | 3.9 | % | | |

In 3Q21 Banco Macro’s net fee income totaled Ps.7.8 billion, 6% or Ps.433 million higher than in 2Q21 and 3% or Ps.212 million lower than the same period of last year.

In the quarter, fee income totaled Ps.8.7 billion, 7% or Ps.534 million higher than in 2Q21.Credit card fees, corporate services fees and fees charged on deposits accounts stand out with an 11%, 15% and 4% increase respectively. On a yearly basis, fee income decreased 1% or Ps.82 million.

In the quarter, total fee expense increased 14% or Ps.101 million. On a yearly basis, fee expenses increased 18% or Ps.130 million.

NET FEE INCOME						Change
In MILLION (Measuring Unit Current at EOP)	3Q20	4Q20	1Q21	2Q21	3Q21	QoQ		YoY
Fees charged on deposit accounts	3,389	3,032	2,976	3,259	3,381	4	%	0	%
Credit card fees	1,755	1,814	1,461	1,380	1,537	11	%	-12	%
Corporate services fees	841	845	837	860	991	15	%	18	%
ATM transactions fees	781	773	794	732	799	9	%	2	%
Insurance fees	549	561	523	512	501	-2	%	-9	%
Debit card fees	532	566	518	515	555	8	%	4	%
Financial agent fees (Provinces)	425	462	427	477	476	0	%	12	%
Credit related fees	199	187	179	208	183	-12	%	-8	%
Mutual funds & securities fees	229	203	156	142	195	37	%	-15	%
AFIP & Collection services	31	30	32	35	38	9	%	23	%
ANSES fees	18	15	12	13	11	-15	%	-39	%
Total fee income	8,749	8,488	7,915	8,133	8,667	7	%	-1	%
Total fee expense	712	736	727	741	842	14	%	18	%
Net fee income	8,037	7,752	7,188	7,392	7,825	6	%	-3	%

All values are in US Dollars.

In 3Q21 Net Income from financial assets and liabilities at fair value through profit or loss totaled a Ps.3.5 billion gain, 40% or Ps.2.3 billion lower than the previous quarter. This decrease is mostly related to lower income from Government and private securities (50% or Ps.2.6 billion lower than in the previous quarter).

On a yearly basis Net income from financial assets and liabilities at fair value through profit or loss decreased 16% or Ps.659 million.

| 8 |

| --- | | 3Q21 Earnings Release | | --- | | NET INCOME FROM FINANCIAL ASSETS AND LIABILITIES AT FAIR VALUE THROUGH PROFIT OR LOSS | | | | | | Change | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | In MILLION (Measuring Unit Current at EOP) | 3Q20 | 4Q20 | 1Q21 | 2Q21 | 3Q21 | | QoQ | | YoY | | | Profit or loss from government securities | 3,951 | 4,242 | 4,901 | 5,289 | 2,666 | | -50 | % | -33 | % | | Profit or loss from private securities | 417 | 185 | 197 | 484 | 487 | | 1 | % | 17 | % | | Profit or loss from investment in derivative financing instruments | 2 | 8 | 0 | 0 | 0 | | 0 | % | -100 | % | | Profit or loss from other financial assets | -5 | 0 | -15 | -3 | 11 | | - | | - | | | Profit or loss from investment in equity instruments | -163 | -60 | 483 | -21 | -50 | | - | | - | | | Profit or loss from the sale of financial assets at fair value | -86 | 121 | -36 | 29 | 414 | | 1328 | % | - | | | Income from financial assets at fair value through profit or loss | 4,116 | 4,496 | 5,530 | 5,778 | 3,528 | | 4 | % | 55 | % | | Profit or loss from derivative financing instruments | 0 | 0 | 0 | -6 | -71 | | - | | - | | | Income from financial liabilities at fair value through profit or loss | 0 | 0 | 0 | -6 | -71 | | - | | - | | | NET INCOME FROM FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS | 4,116 | 4,496 | 5,530 | 5,772 | 3,457 | | -40 | % | -16 | % |

All values are in US Dollars.

In the quarter Other Operating Income totaled Ps.1.8 billion, 15% or Ps.224 million lower than in 2Q21. On a yearly basis Other Operating Income decreased 2% or Ps.37 million.

OTHER OPERATING INCOME						Change
In MILLION (Measuring Unit Current at EOP)	3Q20	4Q20	1Q21	2Q21	3Q21		QoQ		YoY
Credit and debit cards	43	55	63	72	88		22	%	105	%
Lease of safe deposit boxes	296	269	250	268	274		2	%	-7	%
Other service related fees	664	468	509	545	774		42	%	17	%
Other adjustments and interest from other receivables	286	315	327	453	277		-39	%	-3	%
Initial recognition of loans	-18	-11	4	-4	0		-		-
Sale of property, plant and equipment	8	2	2	0	0		-		-
Others	522	808	844	206	351		70	%	-33	%
Other Operating Income	1,801	1,906	1,999	1,540	1,764		15	%	-2	%

All values are in US Dollars.

In 3Q21 Banco Macro’s administrative expenses plus employee benefits totaled Ps.13.5 billion, 1% or Ps.96 million higher than the previous quarter, due to higher administrative expenses (+6%) which were offset by lower personnel expenses(-2%). On a yearly basis administrative expenses plus employee benefits decreased 8% or Ps.1.1 billion.

Employee benefits decreased 2% or Ps.150 million QoQ. On a yearly basis Employee benefits decreased 5% or Ps.428 million.

In 3Q21 administrative expenses increased 6% or Ps.246 million, due to higher maintenance and conservation fees and higher Other administrative expenses, with a 7% and 16% increase respectively.

As of 3Q21, the accumulated efficiency ratio reached 37.6%, deteriorating from the 37 % posted in 2Q21 and the 34.7% posted a year ago. As of 3Q21 expenses (employee benefits + G&A expenses + depreciation and impairment of assets) decreased 6% or Ps.1 billion, while income (net interest income + net fee income + differences in quoted prices of gold and foreign currency + other operating income + net income from financial assets at fair value through profit or loss – (Turnover Tax + Insurance on deposits)) decreased 11% or Ps. 5 billion compared to 3Q20.

| 9 |

| --- | | 3Q21 Earnings Release | | --- | | PERSONNEL & ADMINISTRATIVE EXPENSES | MACRO Consolidated | | | | | | | | | | | | | | | Change | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | In MILLION $ (Measuring Unit Current at EOP) | 3Q20 | | | 4Q20 | | | 1Q21 | | | 2Q21 | | | 3Q21 | | | QoQ | | | YoY | | | | Employee benefits | | 9,452 | | | 9,390 | | | 8,800 | | | 9,174 | | | 9,024 | | | -2 | % | | -5 | % | | Remunerations | | 7,038 | | | 6,772 | | | 6,344 | | | 6,644 | | | 6,320 | | | -5 | % | | -10 | % | | Social Security Contributions | | 1,562 | | | 1,559 | | | 1,428 | | | 1,523 | | | 1,459 | | | -4 | % | | -7 | % | | Compensation and bonuses | | 628 | | | 847 | | | 838 | | | 806 | | | 992 | | | 23 | % | | 58 | % | | Employee services | | 224 | | | 212 | | | 190 | | | 201 | | | 253 | | | 26 | % | | 13 | % | | Administrative Expenses | | 5,184 | | | 5,337 | | | 4,140 | | | 4,247 | | | 4,493 | | | 6 | % | | -13 | % | | Taxes | | 617 | | | 660 | | | 656 | | | 654 | | | 674 | | | 3 | % | | 9 | % | | Maintenance, conservation fees | | 774 | | | 881 | | | 706 | | | 723 | | | 774 | | | 7 | % | | 0 | % | | Directors & statutory auditors fees | | 402 | | | 827 | | | 127 | | | 111 | | | 121 | | | 9 | % | | -70 | % | | Security services | | 472 | | | 465 | | | 457 | | | 455 | | | 469 | | | 3 | % | | -1 | % | | Electricity & Communications | | 520 | | | 499 | | | 483 | | | 472 | | | 452 | | | -4 | % | | -13 | % | | Other professional fees | | 313 | | | 291 | | | 308 | | | 422 | | | 366 | | | -13 | % | | 17 | % | | Rental agreements | | 15 | | | 25 | | | 38 | | | 21 | | | 21 | | | 0 | % | | 40 | % | | Advertising & publicity | | 114 | | | 242 | | | 70 | | | 186 | | | 220 | | | 18 | % | | 93 | % | | Personnel allowances | | 37 | | | 45 | | | 35 | | | 45 | | | 49 | | | 9 | % | | 32 | % | | Stationary & Office Supplies | | 32 | | | 29 | | | 24 | | | 28 | | | 30 | | | 7 | % | | -6 | % | | Insurance | | 65 | | | 62 | | | 55 | | | 60 | | | 74 | | | 23 | % | | 14 | % | | Hired administrative services | | 3 | | | 0 | | | 3 | | | 2 | | | 2 | | | - | | | -33 | % | | Other | | 1,820 | | | 1,311 | | | 1,178 | | | 1,068 | | | 1,241 | | | 16 | % | | -32 | % | | Total Administrative Expenses | | 14,636 | | | 14,727 | | | 12,940 | | | 13,421 | | | 13,517 | | | 1 | % | | -8 | % | | Total Employees | | 8,651 | | | 8,561 | | | 8,459 | | | 8,318 | | | 8,167 | | | | | | | | | Branches | | 463 | | | 463 | | | 463 | | | 464 | | | 464 | | | | | | | | | Efficiency ratio | | 36.8 | % | | 38.8 | % | | 35.7 | % | | 38.4 | % | | 38.8 | % | | | | | | | | Accumulated efficiency ratio | | 34.7 | % | | 35.7 | % | | 35.7 | % | | 37.0 | % | | 37.6 | % | | | | | | |

In 3Q21, Other Operating Expenses totaled Ps.7.5 billion, increasing 10% or Ps.692 million QoQ, due to higher provision charges (70% or Ps.137 million) and higher other operating expenses (18% or Ps.431 million). On a yearly basis Other Operating Expenses increased 8% or Ps.548 million.

OTHER OPERATING EXPENSES	MACRO Consolidated										Change
In MILLION $ (Measuring Unit Current at EOP)	3Q20		4Q20		1Q21		2Q21		3Q21		QoQ			YoY
Turnover Tax		3,801		3,565		4,239		3,950		4,014		2	%		6	%
Other provision charges		399		296		483		197		334		70	%		-16	%
Deposit Guarantee Fund Contributions		281		288		273		227		225		-1	%		-20	%
Donations		1		6		1		1		7		600	%		600	%
Insurance claims		19		15		13		15		19		27	%		0	%
Initial loan recognition		0		66		0		65		117		100	%		-
Others		2,493		2,596		2,697		2,395		2,826		18	%		13	%
Other Operating Expenses		6,994		6,832		7,706		6,850		7,542		10	%		8	%

In 3Q21 the result from the net monetary positiontotaled a Ps.12.8 billion loss, 13% or Ps.2 billion lower than the loss posted in 2Q21. On a yearly basis the loss related to the netmonetary position increased 26% or Ps.2.7 billion. This is the third quarter in which the result from net monetary position is shown pursuant to Communication “A” 7211 of the Central Bank of Argentina in which the inflation adjustment on our Leliqs and other government securities holdings is included (previously shown in Net Income from financial instruments at fair value through P&L). Previous quarters of 2020 have been restated in accordance with Communication “A” 7211 in order to make a comparison possible. Also lower inflation was observed during the quarter (167 b.p. below 2Q21 level, down from 10.95% to 9.28%).

| 10 |

| --- | | 3Q21 Earnings Release | | --- | | OPERATING RESULT | | | | | | Change | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | In MILLION (Measuring Unit Current at EOP) | 3Q20 | 4Q20 | 1Q21 | 2Q21 | 3Q21 | | QoQ | | YoY | | | Operating Result (exc. Loss from net monetary position) | 22,304 | 19,844 | 22,946 | 21,247 | 20,457 | | -4 | % | -8 | % | | Result from net monetary position (i.e. inflation adjustment) | -10,133 | -14,570 | -17,512 | -14,816 | -12,816 | | -13 | % | 26 | % | | Operating Result (Inc. Loss from net monetary position) | 12,171 | 5,274 | 5,434 | 6,431 | 7,641 | | 19 | % | -37 | % |

All values are in US Dollars.

In 3Q21 Banco Macro's effective income tax rate was 3.7%, lower than the 21.8% effective tax rate of 2Q21 and the 39.6% registered one year ago. For more information please see note 19 to our Financial Statements.

Financial Assets

Private sector financing

The volume of “core” financing to the private sector (including loans, financial trust and leasing portfolio) totaled Ps.305.9 billion, increasing 5% or Ps.13.3 billion QoQ and decreasing 14% or Ps.48.2 billion YoY as a consequence of the economic recession that affected Argentina during 2020 and the effects of the ongoing Covid-19 pandemic.

Commercial loans increased 10% or Ps.8.4 billion, among which Overdrafts and Documents stand out with a 14% and 26% increase respectively.

Consumer lending increased 3% or Ps.5 billion. Credit card loans increased 3% while pledged loans increased 46%.

Within private sector financing, peso financing increased 5% or Ps.14.6 billion, while US dollar financing decreased 9% or USD 20 million.

As of 3Q21, Banco Macro´s market share over private sector loans was 7.3%.

| 11 |

| --- | | 3Q21 Earnings Release | | --- | | FINANCING TO THE PRIVATE SECTOR | | | | | | | | | | | Change | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | In MILLION (Measuring Unit Current at EOP) | 3Q20 | | 4Q20 | | 1Q21 | | 2Q21 | | 3Q21 | | | QoQ | | YoY | | | Overdrafts | 26,208 | | 23,386 | | 17,598 | | 17,052 | | 19,501 | | | 14 | % | -26 | % | | Discounted documents | 32,569 | | 35,845 | | 32,506 | | 29,722 | | 37,344 | | | 26 | % | 15 | % | | Mortgage loans | 20,815 | | 18,466 | | 17,109 | | 16,004 | | 17,657 | | | 10 | % | -15 | % | | Pledged loans | 5,516 | | 4,463 | | 4,024 | | 4,159 | | 6,063 | | | 46 | % | 10 | % | | Personal loans | 92,413 | | 91,892 | | 90,730 | | 85,632 | | 84,725 | | | -1 | % | -8 | % | | Credit Card loans | 80,227 | | 87,484 | | 79,406 | | 76,576 | | 78,900 | | | 3 | % | -2 | % | | Others | 67,239 | | 53,977 | | 43,685 | | 33,366 | | 31,713 | | | -5 | % | -53 | % | | Interest | 26,469 | | 27,064 | | 26,586 | | 27,400 | | 27,278 | | | 0 | % | 3 | % | | Total loan portfolio | 351,456 | | 342,577 | | 311,644 | | 289,911 | | 303,181 | | | 5 | % | -14 | % | | Total loans in Pesos | 317,288 | | 312,085 | | 283,302 | | 269,745 | | 284,180 | | | 5 | % | -10 | % | | Total loans in | 34,168 | | 30,492 | | 28,342 | | 20,166 | | 19,001 | | | -6 | % | -44 | % | | Financial trusts | 555 | | 779 | | 356 | | 459 | | 348 | | | -24 | % | -37 | % | | Leasing | 204 | | 162 | | 151 | | 175 | | 183 | | | 5 | % | -10 | % | | Others | 1,895 | | 2,243 | | 2,344 | | 2,075 | | 2,177 | | | 5 | % | 15 | % | | Total other financing | 2,654 | | 3,184 | | 2,851 | | 2,709 | | 2,708 | | | 0 | % | 2 | % | | Total other financing in Pesos | 1,218 | | 1,771 | | 1,536 | | 1,476 | | 1,591 | | | 8 | % | 31 | % | | Total other financing in | 1,436 | | 1,413 | | 1,315 | | 1,233 | | 1,117 | | | -9 | % | -22 | % | | Total financing to the private sector | 354,110 | | 345,761 | | 314,495 | | 292,620 | | 305,889 | | | 5 | % | -14 | % | | EOP FX (Pesos per ) | 76.1750 | | 84.1450 | | 91.9850 | | 95.7267 | | 98.7350 | | | 3 | % | 30 | % | | financing / Financing to the private sector | 10 | % | 9 | % | 9 | % | 7 | % | 7 | % | | | | | |

All values are in US Dollars.

Public Sector Assets

In 3Q21, the Bank’s public sector assets (excluding LELIQs) to total assets ratio was 17.6%, lower than the 21% registered in the previous quarter, and the 17.7% posted in 3Q20.

In 3Q21, a 15% or Ps.27 billion decrease in Other Government securities and a 3% or Ps.3.5 billion decrease in Leliqs stand out. Since 2Q20 the Bank decided to invest in CER adjustable and Badlar bonds.

PUBLIC SECTOR ASSETS	MACRO Consolidated															Change
In MILLION $ (Measuring Unit Current at EOP)	3Q20			4Q20			1Q21			2Q21			3Q21			QoQ			YoY
Leliqs		192,776			176,232			147,760			133,872			130,383			-3	%		-32	%
Other		191,261			179,389			153,112			182,428			155,478			-15	%		-19	%
Government securities		384,037			355,621			300,872			316,300			285,861			-10	%		-26	%
Provincial loans		5,930			4,716			3,805			3,782			2,477			-35	%		-58	%
Loans		5,930			4,716			3,805			3,782			2,477			-35	%		-58	%
Purchase of government bonds		212			210			201			188			175			-7	%		-17	%
Other receivables		212			210			201			188			175			-7	%		-17	%
TOTAL PUBLIC SECTOR ASSETS		390,179			360,547			304,878			320,270			288,513			-10	%		-26	%
TOTAL PUBLIC SECTOR ASSETS (net of LEBAC/NOBAC/LELIQ)		87,772			180,635			168,658			143,771			170,565			19	%		94	%
TOTAL PUBLIC SECTOR ASSETS (net of LEBAC/NOBAC/LELIQ)/TOTAL ASSETS		17.7	%		17.5	%		16.9	%		21.0	%		17.6	%

| 12 |

| --- | | 3Q21 Earnings Release | | --- |

Funding

Deposits

Banco Macro’s deposit base totaled Ps.542.2 billion in 3Q21, increasing 1% or Ps.4.1 billion QoQ and a 28% or Ps.209.1 billion decrease YoY and representing 78% of the Bank’s total liabilities.

On a quarterly basis, public sector deposits decreased 4% or Ps.2.5 billion while private sector deposits increased 1% or Ps.6.6 billion.

The increase in private sector deposits was led by time deposits, which decreased 1% or Ps.2.4 billion, while time deposits increased 2% or Ps.5 billion QoQ.

Within private sector deposits, peso deposits decreased Ps.238 million, while US dollar deposits increased 1% or USD 14 million.

As of 3Q21, Banco Macro´s market share over private sector deposits was 5.7%.

DEPOSITS															Change
In MILLION (Measuring Unit Current at EOP)			4Q20			1Q21			2Q21			3Q21			QoQ			YoY
Public sector	161,064			100,754			67,127			56,395			53,930			-4	%		-67	%
Financial sector	672			954			841			786			830			6	%		24	%
Private sector	589,504			567,662			486,503			480,828			487,394			1	%		-17	%
Checking accounts	109,332			89,572			84,312			85,198			98,494			16	%		-10	%
Savings accounts	164,290			189,760			149,054			157,554			146,693			-7	%		-11	%
Time deposits	303,688			277,980			241,951			224,780			229,792			2	%		-24	%
Other	12,194			10,350			11,186			13,296			12,415			-7	%		2	%
Total	751,240			669,370			554,471			538,009			542,154			1	%		-28	%
Pesos	631,157			563,775			453,977			441,875			441,592			0	%		-30	%
Foreign Currency (Pesos)	120,083			105,595			100,494			96,134			100,562			5	%		-16	%
EOP FX (Pesos per )	76.1750			84.1450			91.9850			95.7267			98.7350			3	%		30	%
Foreign Currency ()	1,576			1,255			1,093			1,004			1,019			1	%		-35	%
Deposits / Total Deposits	16	%		16	%		18	%		18	%		19	%

All values are in US Dollars.

Banco Macro’s transactional deposits represent approximately 51% of its total deposit base as of 3Q21. These accounts are low cost and are not sensitive to interest rate increases.

Other sources of funds

In 3Q21, the total amount of other sources of funds increased 2% or Ps.5.4 billion compared to 2Q21. On a yearly basis other sources of funds decreased 4% or Ps.10 billion. In 3Q21 Shareholder’s Equity increased 4% or Ps.7.4 billion as a consequence of the Ps.7.4 billion total comprehensive income of the quarter; also in the quarter subordinated corporate bonds decreased 4% or Ps.1.7 billion.

OTHER SOURCES OF FUNDS	MACRO Consolidated										Change
In MILLION $ (Measuring Unit Current at EOP)	3Q20		4Q20		1Q21		2Q21		3Q21		QoQ			YoY
Central Bank of Argentina		30		27		24		26		22		-15	%		-27	%
Banks and international institutions		613		486		631		619		510		-18	%		-17	%
Financing received from Argentine financial institutions		406		744		738		129		63		-51	%		-84	%
Subordinated corporate bonds		48,074		46,977		46,257		42,722		41,040		-4	%		-15	%
Corporate bonds		7,652		6,748		6,128		2,657		2,538		-4	%		-67	%
Shareholders' equity		204,193		202,806		206,171		199,435		206,847		4	%		1	%
Total other source of funds		260,968		257,788		259,949		245,588		251,020		2	%		-4	%

| 13 |

| --- | | 3Q21 Earnings Release | | --- |

Liquid Assets

In 3Q21, the Bank’s liquid assets amounted to Ps.487.1 billion, showing a 3% or Ps.13.2 billion decrease QoQ, and a 26% or Ps.168.3 billion decrease on a yearly basis.

In 3Q21, Other government securities decreased 15% or Ps.27 billion, which was partially offset by a 6% increase in Cash.

In 3Q21 Banco Macro’s liquid assets to total deposits ratio reached 90%.

LIQUID ASSETS	MACRO Consolidated															Change
In MILLION $ (Measuring Unit Current at EOP)	3Q20			4Q20			1Q21			2Q21			3Q21			QoQ			YoY
Cash		172,191			178,001			186,140			156,782			166,008			6	%		-4	%
Guarantees for compensating chambers		16,664			16,491			14,493			13,298			14,640			10	%		-12	%
Call		229			68			1,334			0			0			-			-100	%
Leliq own portfolio		192,776			176,232			147,760			133,872			130,383			-3	%		-32	%
Net Repos		82,290			53,144			15,629			13,962			20,621			48	%		-75	%
Other government & private securities		191,261			179,389			153,112			182,428			155,478			-15	%		-19	%
Total		655,411			603,325			518,468			500,342			487,130			-3	%		-26	%
Liquid assets to total deposits		87	%		90	%		94	%		93	%		90	%

Solvency

Banco Macro continued showing high solvency levels in 3Q21 with an integrated capital (RPC) of Ps.234 billion over a total capital requirement of Ps.51.4 billion. Banco Macro’s excess capital in 3Q21 was 356% or Ps.182.7 billion. Since the beginning of 2020 and due to inflation adjustments Equity has increased significantly leading to higher solvency levels (shown under Ordinary Capital Level 1).

The regulatory capital ratio (as a percentage of risk-weighted assets- RWA) was 37.2% in 3Q21; TIER1 Ratio stood at 30.4%.

The Bank’s aim is to make the best use of this excess capital.

MINIMUM CAPITAL REQUIREMENT	MACRO Consolidated															Change
In MILLION $	3Q20			4Q20			1Q21			2Q21			3Q21			QoQ			YoY
Credit risk requirement		23,972			28,025			29,047			29,413			34,030			16	%		42	%
Market risk requirement		1,172			1,556			1,538			1,559			1,631			5	%		39	%
Operational risk requirement		10,604			11,777			12,934			14,252			15,691			10	%		48	%
Total capital requirements		35,749			41,358			43,519			45,224			51,352			14	%		44	%
Ordinary Capital Level 1 (COn1)		131,531			146,350			171,410			182,409			203,858			12	%		55	%
Deductible concepts Level 1 (COn1)		-11,768			-9,150			-9,889			-11,194			-12,411			11	%		5	%
Capital Level 2 (COn2)		32,854			36,248			39,442			40,987			42,565			4	%		30	%
Integrated capital - RPC (i)		152,618			173,449			200,964			212,202			234,012			10	%		53	%
Excess capital		116,869			132,091			157,445			166,978			182,660			9	%		56	%
Risk-weighted assets - RWA (ii)		438,129			506,766			533,407			554,596			629,505			14	%		44	%
Regulatory Capital ratio [(i)/(ii)]		34.8	%		34.2	%		37.7	%		38.3	%		37.2	%
Ratio TIER 1 [Capital Level 1/RWA]		27.3	%		27.1	%		30.3	%		30.9	%		30.4	%

RWA - (ii): Risk Weighted Assets, considering total capital requirements.

(²) Figures are inflaiton adjusted. Expressed in Pesos current at EOP

| 14 |

| --- | | 3Q21 Earnings Release | | --- |

Asset Quality

In 3Q21, Banco Macro’s non-performing to total financing ratio (under Central Bank rules) reached a level of 1.67%, down from 1.68% in 2Q21, and above the 1.14% posted in 3Q20.

Consumer portfolio non-performing loans increased 17b.p. (up to 2.05% from 1.88%) while Commercial portfolio non-performing loans decreased 55b.p. in 3Q21 (down to 0.57% from 1.11%) mainly due to the write off of three commercial loans.

During 2020 Consumer portfolio non-performing loans ratio were positively impacted by measures adopted by the Central Bank of Argentina in the current Covid19 pandemic context, particularly the 60 day grace period that was added to debtor classification before a loan was considered as non performing and the possibility to refinance outstanding credit card balances. These measures were in place until March 31^st^, 2021.

In March 2021 through Communication “A” 7245, the Central Bank established a gradual transition in the definition of debtors for clients who chose to postpone the payment of installments. Financial entities must increase the grace period to classify their debtors in levels 1, 2 and 3, both for the commercial portfolio and for the consumer or housing portfolio, according to the following schedule: i) Until March 31, 2021, in 60 days, ii) Until May 31, 2021, in 30 days, and iii) As of June 1, 21, financial entities must classify their debtors according to the general debtor classification.

The coverage ratio (measured as total allowances under Expected Credit Losses over Non Performing loans under Central Bank rules) reached to 179.9% in 2Q21. Write-offs over total loans totaled 0.35%.

The Bank is committed to continue working in this area to maintain excellent asset quality standards.

ASSET QUALITY	MACRO Consolidated															Change
In MILLION $ (Measuring Unit Current at EOP)	3Q20			4Q20			1Q21			2Q21			3Q21			QoQ			YoY
Commercial portfolio		115,931			104,709			92,045			79,920			82,667			3	%		-29	%
Non-performing		1,800			944			918			890			469			-47	%		-74	%
Consumer portfolio		264,844			265,632			244,566			232,163			239,532			3	%		-10	%
Non-performing		2,541			1,929			2,176			4,359			4,904			12	%		93	%
Total portfolio		380,775			370,340			336,610			312,083			322,199			3	%		-15	%
Non-performing		4,341			2,874			3,094			5,249			5,372			2	%		24	%
Commercial non-perfoming ratio		1.55	%		0.90	%		1.00	%		1.11	%		0.57	%
Consumer non-perfoming ratio		0.96	%		0.73	%		0.89	%		1.88	%		2.05	%
Total non-performing/ Total portfolio		1.14	%		0.78	%		0.92	%		1.68	%		1.67	%
Total allowances		13,151			13,772			12,002			11,173			9,450			-15	%		-28	%
Coverage ratio w/allowances		302.94	%		479.18	%		387.91	%		212.87	%		175.90	%
Write Offs		962			1,360			155			120			1,121			835	%		17	%
Write Offs/ Total portfolio		0.25	%		0.37	%		0.05	%		0.04	%		0.35	%

Expected Credit Losses (E.C.L) (I.F.R.S.9)

The Bank records an allowance for expected credit losses for all loans and other debt financial assets not held at fair value through profit or loss, together with loan commitments and financial guarantee contracts, in this section all referred to as ‘financial instruments’. Equity instruments are not subject to impairment under IFRS 9. The ECL allowance is based on the credit losses expected to arise over the life of the asset (the lifetime expected credit loss), unless there has been no significant increase in credit risk since origination, in which case, the allowance is based on the 12 months expected credit loss.(For further information please see our 2020 20-F)

| 15 |

| --- | | 3Q21 Earnings Release | | --- |

CER Exposure and Foreign Currency Position

CER EXPOSURE	MACRO Consolidated										Change
In MILLION $ (Measuring Unit Current at EOP)	3Q20		4Q20		1Q21		2Q21		3Q21		QoQ			YoY
CER adjustable ASSETS
Government Securities		67,406		70,117		86,438		108,099		74,890		-31	%		11	%
Loans (*)		26,312		25,535		25,057		24,923		24,319		-2	%		-8	%
Private sector loans		10,588		9,605		8,731		7,809		7,007		-10	%		-34	%
Mortgage loans (UVA adjusted)		15,718		15,920		16,316		17,105		17,299		1	%		10	%
Other loans		6		10		10		9		13		44	%		117	%
Total CER adjustable assets		93,718		95,652		111,495		133,022		99,209		-25	%		6	%
CER adjustable LIABILITIES
Deposits (*)		1,456		1,889		4,387		8,825		8,451		-4	%		480	%
UVA Unemployment fund		1,058		1,061		1,110		1,287		1,416		10	%		34	%
Total CER adjustable liabilities		2,514		2,950		5,497		10,112		9,867		-2	%		292	%
NET CER EXPOSURE		91,204		92,702		105,998		122,910		89,342		-27	%		-2	%

(*) Includes Loans &Time Deposits CER adjustable (UVAs)

FOREIGN CURRENCY POSITION										Change
In MILLION (Measuring Unit Current at EOP)		4Q20		1Q21		2Q21		3Q21		QoQ			YoY
Cash and deposits in Banks	140,808		144,793		142,156		122,976		122,313		-1	%		-13	%
Cash	11,768		13,429		9,604		9,049		11,656		29	%		-1	%
Central Bank of Argentina	88,771		56,664		67,054		65,102		63,249		-3	%		-29	%
Other financial institutions local and abroad	40,263		74,693		65,491		48,818		47,401		-3	%		18	%
Others	7		7		7		7		7		0	%		0	%
Net Income from financial instruments at fair value through P&L	6		8		46		840		926		10	%		15333	%
Other financial assets	6,966		6,817		6,852		5,969		5,750		-4	%		-17	%
Loans and other financing	35,626		31,899		29,650		21,365		20,085		-6	%		-44	%
Other financial institutions	60		29		29		0		0		0	%		-100	%
Non financial private sector & foreign residents	35,566		31,870		29,621		21,365		20,085		-6	%		-44	%
Other debt securities	6,905		8,067		4,773		6,128		11,734		91	%		70	%
Guarantees received	2,404		2,496		2,190		2,113		2,085		-1	%		-13	%
Investment in equity instruments	13		16		15		15		16		7	%		23	%
Total Assets	192,728		194,095		185,682		159,406		162,909		2	%		-15	%
Deposits	120,083		105,595		100,494		96,134		100,562		5	%		-16	%
Non financial public sector	3,867		5,750		4,958		5,838		5,704		-2	%		48	%
Financial sector	600		786		768		721		731		1	%		22	%
Non financial private sector & foreign residents	115,616		99,059		94,767		89,576		94,127		5	%		-19	%
Other liabilities from financial intermediation	8,673		25,267		22,378		7,691		8,470		10	%		-2	%
Financing from the Central Bank and other fin. Inst	823		643		732		667		513		-23	%		-38	%
Subordinated corporate bonds	48,074		46,977		46,257		42,722		41,040		-4	%		-15	%
Other non financial liabilities	85		28		31		24		23		-4	%		-73	%
Total Liabilities	177,739		178,511		169,892		147,238		150,608		2	%		-15	%
NET FX POSITION (Pesos)	14,989		15,584		15,790		12,168		12,301		1	%		-18	%
EOP FX (Pesos per )	76.1750		84.1450		91.9850		95.7267		98.7350		3	%		30	%
NET FX POSITION ()	197		185		172		127		125		-2	%		-37	%

All values are in US Dollars.

| 16 |

| --- | | 3Q21 Earnings Release | | --- |

Relevant and Recent Events

·

Prisma Medios de Pago S.A. On October 1st 2021, within the scope of the Disvestment<br> Plan undertaken by Prisma Medios de Pago S.A. (“Prisma”) and its class B shareholders<br> with the Argentine Antitrust Commission (Comisión Nacional de Defensa de la Competencia or<br> CNDC), Prisma and its other class B shareholders, have sent the relevant exercise notice<br> for their option to sell and therefore started the process to sell the remaining 49% of the<br> capital stock and votes of Prisma represented by 97,157,290 common book-entry class B shares<br> of par value $1 each and entitled to one vote per share in favor of AI ZENITH (Netherlands)<br> B.V. (a company related to Advent International Global Private Equity).

The price of such shares shall be determined in the coming weeks pursuant to the calculation proceeding the parties shall agree upon. The shares owned by the Bank represent 4.4991% of Prisma’s capital stock.

·	FINTECH-FINOVA. In October 2021, the Bank acquired 49.9939% of the Class B shares held by the<br> protector partners of “Fintech SGR” and therefore currently holds 24.99% of the<br> capital stock and votes of such company.

In addition, the Bank has decided to purchase shares representing 50% of the capital stock and votes of “Finova S.A.”. The main purpose of Finova S.A. is to develop and market the website www.facturbo.com.ar, a digital solution that allows customers to negotiate credit instruments issued and accepted by large companies in favor of SMEs (small and medium-sized companies).

·	Interest Payment Class A Subordinated Notes. In November 2021, the Bank paid semiannual<br> interest on Class A subordinated notes in the amount of USD 13,500,000. On the reset<br> date (November 4^th^, 2021) the Bank decided not to exercise the call option<br> that it had, therefore the reset rate was set at 6.643% as a consequence of the benchmark<br> rate plus 546.3 basis points as established in the pricing supplement.
·	Interest Payment Class B Peso denominated Notes. In November 2021, the Bank paid semiannual<br> interest on Class B Peso denominated notes in the amount of Ps.252,804,212.
---	---
·	Covid-19: In early March 2020, the World Health Organization recognized Coronavirus (Covid-19)<br> as a pandemic that is severely affecting almost all countries around the world. The spread<br> of this disease globally has forced the authorities to take drastic health and financial<br> measures to contain and mitigate its effects on health and economic activity. Particularly<br> in the Argentine Republic, on March 19, 2020, through Decree No. 297/2020, the<br> Government established the “social, preventive and compulsory isolation” measure<br> until March 31, 2020, which was then extended until June 7, 2020. Along with health<br> protection rules, tax and financial measures were taken to mitigate the impact on the economy<br> associated with the pandemic, including public direct financial assistance measures for part<br> of the population, the establishment of financial and fiscal facilities for both individuals<br> and companies. As regards measures related to the Entity’s business, the BCRA established<br> maturities extensions, froze the mortgage loan installments and encouraged banks to lend<br> to companies at reduced rates. In addition, the distribution of dividends of the finance<br> institutions was suspended until December 31, 2021. In addition, in the mandatory quarantine<br> context, the BCRA ruled that financial institutions would not be able to open their branches<br> for public service during that period and should continue to provide services to users remotely.<br> They could also trade with each other and their clients in the exchange market remotely.<br> During quarantine, remote trading of stock exchanges and capital markets authorized by the<br> CNV, the custodians and capital market agents registered with the CNV was admitted. In view<br> of the extension of mandatory quarantine, the BCRA then decided that financial institutions<br> would open their branches from Friday, April 3, 2020 for public attention through previous<br> appointments obtained by the Bank’s website. The Bank is developing its activities<br> under the conditions detailed above, giving priority to the compliance of social isolation<br> measures by its employees, with the primary objective of taking care of the public health<br> and well-being of all its stakeholders (employees, suppliers, customers, among others). To<br> this end, it has put in place contingency procedures and has enabled its staff to carry out<br> their tasks remotely. From a commercial point of view, it has emphasized maintaining a close<br> relationship with its customers, trying to respond to their needs at this difficult time,<br> sustaining all virtual channels of care to ensure operability<br>and good response to requirements, monitoring compliance with their business obligations and monitoring the active portfolio in order<br>to detect possible delays in collection and set new conditions for them. Considering the size of the abovementioned situation, the Bank’s<br>Management estimates that this situation could have an impact on its operations and the financial situation and the results of the Bank,<br>which are under analysis, and will ultimately; depend on the extent an duration of the health emergency and the success of the measures<br>taken.
---	---

| 17 |

| --- | | 3Q21 Earnings Release | | --- |

Regulatory Changes

·	Inflation Adjustment (Other Comprehensive Income) In January 2021 through Communication “A”<br> 7221 with starting in fiscal year 2021, the monetary result accrued with respect to items<br> of a monetary nature that are measured at fair value with changes in Other Comprehensive<br> Income (OCI), must be recorded in results for the period/fiscal year. Consequently, the unallocated<br> results must be adjusted and recorded in the account "Adjustments to results from previous<br> years" at the beginning of fiscal year 2021, in order to incorporate the accumulated<br> monetary results of the aforementioned items as of that date that will be recorded in OCI.<br> All the comparative information for the next periods/fiscal years must consider this change<br> in the exposure criteria.
·	Net Global position in Foreign Currency. On November 4, 2021, the Central Bank of Argentina,<br> through Communication “A” 7395, established that financial entities must not<br> increase their spot net global position in foreign currency. This position cannot exceed<br> the spot position as of November 4, 2021, or the monthly average of diary balances of<br> October 2021, whichever is lower.
---	---

| 18 |

| --- | | 3Q21 Earnings Release | | --- | | QUARTERLY BALANCE SHEET | MACRO Consolidated | | | | | | | | | | Change | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | In MILLION $ (Measuring Unit Current at EOP) | 3Q20 | | 4Q20 | | 1Q21 | | 2Q21 | | 3Q21 | | QoQ | | | YoY | | | | ASSETS | | | | | | | | | | | | | | | | | | Cash and deposits in Banks | | 172,191 | | 178,001 | | 186,140 | | 156,782 | | 166,008 | | 6 | % | | -4 | % | | Cash | | 30,725 | | 34,818 | | 28,677 | | 23,356 | | 24,958 | | 7 | % | | -19 | % | | Central Bank of Argentina | | 101,190 | | 68,472 | | 91,953 | | 84,597 | | 93,619 | | 11 | % | | -7 | % | | Other local & foreign entities | | 40,269 | | 74,703 | | 65,504 | | 48,823 | | 47,425 | | -3 | % | | 18 | % | | Other | | 7 | | 8 | | 6 | | 6 | | 6 | | 0 | % | | -14 | % | | Debt securities at fair value through profit & loss | | 25,229 | | 75,303 | | 46,538 | | 67,692 | | 21,242 | | -69 | % | | -16 | % | | Derivatives | | 21 | | 10 | | - | | 4 | | 1 | | -75 | % | | -95 | % | | Repo Transactions | | 82,290 | | 53,991 | | 15,629 | | 14,263 | | 22,431 | | 57 | % | | -73 | % | | Other financial assets | | 23,737 | | 25,866 | | 21,179 | | 16,830 | | 21,429 | | 27 | % | | -10 | % | | Loans & other receivables | | 362,391 | | 352,429 | | 321,356 | | 297,846 | | 309,922 | | 4 | % | | -14 | % | | Non Financial Public Sector | | 6,113 | | 4,951 | | 3,989 | | 3,993 | | 2,678 | | -33 | % | | -56 | % | | Financial Sector | | 2,723 | | 2,496 | | 3,228 | | 1,692 | | 1,703 | | 1 | % | | -37 | % | | Non Financial private sector and foreign | | 353,555 | | 344,982 | | 314,139 | | 292,161 | | 305,541 | | 5 | % | | -14 | % | | Other debt securities | | 366,309 | | 286,411 | | 257,793 | | 253,675 | | 275,831 | | 9 | % | | -25 | % | | Financial assets in guarantee | | 18,645 | | 19,575 | | 16,662 | | 15,783 | | 18,852 | | 19 | % | | 1 | % | | Investments in equity instruments | | 2,480 | | 2,278 | | 2,494 | | 2,281 | | 2,085 | | -9 | % | | -16 | % | | Investments in other companies<br> (subsidiaries and joint ventures) | | 277 | | 279 | | 299 | | 420 | | 393 | | -6 | % | | 42 | % | | Property, plant and equipment | | 47,113 | | 47,072 | | 47,126 | | 47,398 | | 48,152 | | 2 | % | | 2 | % | | Intangible assets | | 6,757 | | 6,990 | | 7,054 | | 7,264 | | 7,543 | | 4 | % | | 12 | % | | Deferred income tax assets | | 108 | | 87 | | 68 | | 77 | | 34 | | -56 | % | | -69 | % | | Other non financial assets | | 3,168 | | 3,056 | | 3,114 | | 2,765 | | 2,206 | | -20 | % | | -30 | % | | Non-current assets held for sale | | 3,426 | | 3,093 | | 3,091 | | 3,086 | | 2,992 | | -3 | % | | -13 | % | | TOTAL ASSETS | | 939,290 | | 1,019,504 | | 964,874 | | 849,668 | | 810,893 | | -5 | % | | -14 | % | | LIABILITIES | | | | | | | | | | | | | | | | | | Deposits | | 751,240 | | 669,370 | | 554,471 | | 538,009 | | 542,154 | | 1 | % | | -28 | % | | Non Financial Public Sector | | 161,064 | | 100,754 | | 67,127 | | 56,395 | | 53,930 | | -4 | % | | -67 | % | | Financial Sector | | 672 | | 954 | | 841 | | 786 | | 830 | | 6 | % | | 24 | % | | Non Financial private sector and foreign | | 589,504 | | 567,662 | | 486,503 | | 480,828 | | 487,394 | | 1 | % | | -17 | % | | Liabilities at fair value through profit & loss | | - | | - | | - | | 13.00 | | 2,220 | | - | | | - | | | Derivatives | | 1 | | - | | - | | 2 | | 2 | | - | | | 0 | % | | Repo Transactions | | - | | 847 | | - | | 301 | | 1,810 | | - | | | -86 | % | | Other financial liabilities | | 43,661 | | 67,405 | | 60,475 | | 44,112 | | 46,609 | | 6 | % | | 7 | % | | Financing received from Central Bank and<br> Other Financial Institutions | | 1,049 | | 1,259 | | 1,393 | | 775 | | 595 | | -23 | % | | -43 | % | | Issued Corporate Bonds | | 7,652 | | 6,748 | | 6,128 | | 2,657 | | 2,538 | | -4 | % | | -67 | % | | Current income tax liabilities | | 15,188 | | 7,047 | | 5,735 | | 1,732 | | 2,433 | | 40 | % | | -84 | % | | Subordinated corporate bonds | | 48,074 | | 46,977 | | 46,257 | | 42,722 | | 41,040 | | -4 | % | | -15 | % | | Provisions | | 2,478 | | 1,787 | | 1,687 | | 1,053 | | 1,370 | | 30 | % | | -45 | % | | Deferred income tax liabilities | | 3,864 | | 8,616 | | 9,816 | | 9,898 | | 7,812 | | -21 | % | | 102 | % | | Other non financial liabilities | | 36,740 | | 41,576 | | 36,406 | | 45,454 | | 43,689 | | -4 | % | | 19 | % | | TOTAL LIABILITIES | | 909,947 | | 851,632 | | 722,368 | | 686,728 | | 692,272 | | 1 | % | | -24 | % | | SHAREHOLDERS' EQUITY | | | | | | | | | | | | | | | | | | Capital Stock | | 639 | | 639 | | 639 | | 639 | | 639 | | 0 | % | | 0 | % | | Issued Shares premium | | 12,430 | | 12,430 | | 12,430 | | 12,430 | | 12,430 | | 0 | % | | 0 | % | | Adjustment to Shareholders' Equity | | 73,738 | | 73,738 | | 73,738 | | 73,738 | | 73,738 | | 0 | % | | 0 | % | | Reserves | | 155,974 | | 150,402 | | 150,402 | | 110,540 | | 110,540 | | 0 | % | | -29 | % | | Retained earnings | | -69,317 | | -69,317 | | -35,943 | | -8,094 | | -8,094 | | - | | | - | | | Other accumulated comprehensive income | | 1,702 | | 1,540 | | 2,253 | | 2,484 | | 2,542 | | 2 | % | | 49 | % | | Net income for the period / fiscal year | | 29,027 | | 33,374 | | 2,652 | | 7,698 | | 15,052 | | 96 | % | | -48 | % | | Shareholders' Equity attributable<br> to parent company | | 204,193 | | 202,806 | | 206,171 | | 199,435 | | 206,847 | | 4 | % | | 1 | % | | Shareholders' Equity attributable to<br> non controlling interest | | 2 | | 3 | | 4 | | 3 | | 2 | | -33 | % | | 0 | % | | TOTAL SHAREHOLDERS' EQUITY | | 204,195 | | 202,809 | | 206,175 | | 199,438 | | 206,849 | | 4 | % | | 1 | % |

| 19 |

| --- | | 3Q21 Earnings Release | | --- | | INCOME STATEMENT | MACRO Consolidated | | | | | | | | | | Change | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | In MILLION $ (Measuring Unit Current at EOP) | 3Q20 | | 4Q20 | | 1Q21 | | 2Q21 | | 3Q21 | | QoQ | | | YoY | | | | Interest Income | | 56,093 | | 56,984 | | 54,680 | | 48,359 | | 49,892 | | 3 | % | | -11 | % | | Interest Expense | | 23,832 | | 27,168 | | 25,787 | | 20,511 | | 20,145 | | -2 | % | | -15 | % | | Net Interest Income | | 40,298 | | 37,568 | | 36,081 | | 35,240 | | 37,572 | | 7 | % | | -7 | % | | Fee income | | 8,749 | | 8,488 | | 7,915 | | 8,133 | | 8,667 | | 7 | % | | -1 | % | | Fee expense | | 712 | | 736 | | 727 | | 741 | | 842 | | 14 | % | | 18 | % | | Net Fee Income | | 8,037 | | 7,752 | | 7,188 | | 7,392 | | 7,825 | | 6 | % | | -3 | % | | Subtotal (Net Interest Income + Net Fee Income) | | 40,298 | | 37,568 | | 36,081 | | 35,240 | | 37,572 | | 7 | % | | -7 | % | | Net Income from financial instruments at Fair Value Through Profit& Loss | | 4,116 | | 4,496 | | 5,530 | | 5,772 | | 3,457 | | -40 | % | | -16 | % | | Result from assets at amortised cost | | 94 | | 172 | | 72 | | 67 | | - | | -100 | % | | -100 | % | | Difference in quoted prices of gold and foreign<br> currency | | 1,841 | | 1,742 | | 1,474 | | 699 | | 592 | | -15 | % | | -68 | % | | Other operating income | | 1,801 | | 1,906 | | 1,999 | | 1,540 | | 1,764 | | 15 | % | | -2 | % | | Provision for loan losses | | 2,668 | | 2,957 | | 3 | | 232 | | 212 | | -9 | % | | -92 | % | | Net Operating Income | | 45,482 | | 42,927 | | 45,153 | | 43,086 | | 43,173 | | 0 | % | | -5 | % | | Personnel expenses | | 9,452 | | 9,390 | | 8,800 | | 9,174 | | 9,024 | | -2 | % | | -5 | % | | Administrative expenses | | 5,184 | | 5,337 | | 4,140 | | 4,247 | | 4,493 | | 6 | % | | -13 | % | | Depreciation and impairment of assets | | 1,548 | | 1,524 | | 1,561 | | 1,568 | | 1,657 | | 6 | % | | 7 | % | | Other operating expenses | | 6,994 | | 6,832 | | 7,706 | | 6,850 | | 7,542 | | 10 | % | | 8 | % | | Operating Income | | 22,304 | | 19,844 | | 22,946 | | 21,247 | | 20,457 | | -4 | % | | -8 | % | | Income from associates and joint ventures | | 23 | | -81 | | 27 | | 21 | | -1 | | - | | | - | | | Result from net monetary position | | -10,133 | | -14,570 | | -17,512 | | -14,816 | | -12,816 | | - | | | - | | | Net Income before income tax on cont. operations | | 12,194 | | 5,193 | | 5,461 | | 6,452 | | 7,640 | | 18 | % | | -37 | % | | Income tax on continuing operations | | 4,824 | | 844 | | 2,810 | | 1,406 | | 285 | | -80 | % | | -94 | % | | Net Income from continuing operations | | 7,370 | | 4,349 | | 2,651 | | 5,046 | | 7,355 | | 46 | % | | 0 | % | | Net Income for the period | | 7,370 | | 4,349 | | 2,651 | | 5,046 | | 7,355 | | 46 | % | | 0 | % | | Net Income of the period attributable to parent<br> company | | 7,370 | | 4,349 | | 2,651 | | 5,046 | | 7,355 | | 46 | % | | 0 | % | | Net income of the period attributable to non-controlling<br> interests | | - | | - | | - | | - | | - | | - | | | - | | | Other Comprehensive Income | | 1,164 | | -162 | | 712 | | 233 | | 58 | | -75 | % | | -95 | % | | Foreign currency translation differences in financial<br> statements conversion | | 79 | | -30 | | -117 | | -219 | | -184 | | - | | | - | | | Profits or losses from financial assets measured at fair<br> value through other comprehensive income (FVOCI)(IFRS 9(4.1.2)(a) | | 1,085 | | -132 | | 829 | | 452 | | 242 | | -46 | % | | -78 | % | | TOTAL COMPREHENSIVE INCOME FOR THE PERIOD | | 8,534 | | 4,187 | | 3,363 | | 5,279 | | 7,413 | | 40 | % | | -13 | % | | Total Comprehensive Income attributable to parent<br> Company | | 8,534 | | 4,187 | | 3,363 | | 5,279 | | 7,413 | | 40 | % | | -13 | % | | Total Comprehensive Income attributable to<br> non-controlling interests | | - | | - | | - | | - | | - | | - | | | - | |

| 20 |

| --- | | 3Q21 Earnings Release | | --- | | QUARTERLY ANNUALIZED RATIOS | MACRO Consolidated | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 3Q20 | | | 4Q20 | | | 1Q21 | | | 2Q21 | | | 3Q21 | | | | Profitability & performance | | | | | | | | | | | | | | | | | Net interest margin | | 17.1 | % | | 16.3 | % | | 17.4 | % | | 18.8 | % | | 19.1 | % | | Net interest margin adjusted (exc. FX) | | 16.2 | % | | 15.4 | % | | 16.6 | % | | 18.4 | % | | 18.8 | % | | Net fee income ratio | | 13.1 | % | | 13.9 | % | | 11.5 | % | | 12.2 | % | | 13.7 | % | | Efficiency ratio | | 36.8 | % | | 38.8 | % | | 35.7 | % | | 38.4 | % | | 38.8 | % | | Net fee income as % of A&G Expenses | | 35.6 | % | | 35.7 | % | | 32.2 | % | | 31.7 | % | | 35.3 | % | | Return on average assets | | 2.8 | % | | 1.7 | % | | 1.1 | % | | 2.3 | % | | 3.3 | % | | Return on average equity | | 14.7 | % | | 8.8 | % | | 5.4 | % | | 10.3 | % | | 14.6 | % | | Liquidity | | | | | | | | | | | | | | | | | Loans as a percentage of total deposits | | 48.2 | % | | 52.7 | % | | 58.0 | % | | 55.4 | % | | 57.2 | % | | Liquid assets as a percentage of total deposits | | 87.0 | % | | 90.0 | % | | 94.0 | % | | 93.0 | % | | 90.0 | % | | Capital | | | | | | | | | | | | | | | | | Total equity as a percentage of total assets | | 18.3 | % | | 19.2 | % | | 22.2 | % | | 22.5 | % | | 23.0 | % | | Regulatory capital as % of APR | | 34.8 | % | | 34.2 | % | | 37.7 | % | | 38.3 | % | | 37.2 | % | | Asset Quality | | | | | | | | | | | | | | | | | Allowances over total loans | | 2.9 | % | | 3.5 | % | | 3.7 | % | | 3.8 | % | | 2.9 | % | | Non-performing financing as a percentage of total financing | | 1.1 | % | | 0.8 | % | | 0.9 | % | | 1.7 | % | | 1.7 | % | | Coverage ratio w/allowances | | 303.0 | % | | 479.3 | % | | 387.8 | % | | 212.9 | % | | 175.9 | % | | Cost of Risk | | 3.0 | % | | 3.4 | % | | 0.0 | % | | 0.3 | % | | 0.3 | % | | ACCUMULATED ANNUALIZED RATIOS | MACRO Consolidated | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 3Q20 | | | 4Q20 | | | 1Q21 | | | 2Q21 | | | 3Q21 | | | | Profitability & performance | | | | | | | | | | | | | | | | | Net interest margin | | 20.3 | % | | 19.2 | % | | 17.4 | % | | 18.1 | % | | 18.4 | % | | Net interest margin adjusted (exc. FX) | | 19.5 | % | | 18.4 | % | | 16.6 | % | | 17.4 | % | | 17.8 | % | | Net fee income ratio | | 12.2 | % | | 12.6 | % | | 11.5 | % | | 11.8 | % | | 12.4 | % | | Efficiency ratio | | 34.7 | % | | 35.7 | % | | 35.7 | % | | 37.0 | % | | 37.6 | % | | Net fee income as % of A&G Expenses | | 35.1 | % | | 35.3 | % | | 32.2 | % | | 32.0 | % | | 33.1 | % | | Return on average assets | | 4.1 | % | | 3.5 | % | | 1.1 | % | | 1.7 | % | | 2.2 | % | | Return on average equity | | 19.5 | % | | 16.8 | % | | 5.4 | % | | 7.8 | % | | 10.1 | % | | Liquidity | | | | | | | | | | | | | | | | | Loans as a percentage of total deposits | | 48.2 | % | | 52.7 | % | | 58.0 | % | | 55.4 | % | | 57.2 | % | | Liquid assets as a percentage of total deposits | | 87.0 | % | | 90.0 | % | | 94.0 | % | | 93.0 | % | | 90.0 | % | | Capital | | | | | | | | | | | | | | | | | Total equity as a percentage of total assets | | 18.3 | % | | 19.2 | % | | 22.2 | % | | 22.5 | % | | 23.0 | % | | Regulatory capital as % of APR | | 34.8 | % | | 34.2 | % | | 37.7 | % | | 38.3 | % | | 37.2 | % | | Asset Quality | | | | | | | | | | | | | | | | | Allowances over total loans | | 2.9 | % | | 3.5 | % | | 3.7 | % | | 3.8 | % | | 2.9 | % | | Non-performing financing as a percentage of total financing | | 1.1 | % | | 0.8 | % | | 0.9 | % | | 1.7 | % | | 1.7 | % | | Coverage ratio w/allowances | | 303.0 | % | | 479.3 | % | | 387.8 | % | | 212.9 | % | | 175.9 | % | | Cost of Risk | | 2.9 | % | | 3.0 | % | | 0.0 | % | | 0.2 | % | | 0.2 | % |

| 21 |

| --- |

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: November 24, 2021

MACRO BANK INC.
By:	/s/ Jorge<br> Francisco Scarinci
Name: Jorge Francisco Scarinci
Title: Chief Financial Officer