6-K
GRUPO FINANCIERO GALICIA SA (GGAL)
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
May 28, 2025
Commission File Number: 0-30852
GRUPO FINANCIERO GALICIA S.A.
(the “Registrant”)
Galicia Financial Group S.A.
(translation of Registrant’s name into English)
Tte. Gral. Juan D. Perón 430, 25th Floor
(CP1038AAJ) Buenos Aires, Argentina
(address of principal executive offices)
Indicate by check mark whether the Registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark whether by furnishing the information contained in this form, the Registrant is also thereby furnishing the information to the Securities and Exchange Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ☐ No ☒
If “Yes” is marked, indicate below the file number assigned to the Registrant in connection with Rule 12g3-2(b): 82-
FORM 6-K
Commission File No. 0-30852
| Month Filed | Event and Summary | Exhibit No. |
|---|---|---|
| May, 2025 | Press Release regarding the Financial Results of the Registrant for the First Quarter of the 2025 Fiscal Year that ended March 31, 2025. | 99.1 |
SIGNATURES
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, thereunto duly authorized.
| GRUPO FINANCIERO GALICIA S.A. | ||
|---|---|---|
| (Registrant) | ||
| Date: May 28, 2025 | By: | /s/ Fabián E. Kon |
| Name: Fabiám E. Kon | ||
| Title: Chief Executive Officer |
grupogaliciapressrelease
Financial Report Grupo Financiero Galicia S.A. 20251st. quarter
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ASG Regulatory changesFondos Fima This report is a summary analysis of Grupo Galicia’s financial condition and results of operations as of and for the periods indicated above. For a correct interpretation, this report must be read in conjunction with GFG’s financial statements, as well as with all other information periodically filed with the National Securities Commission (www.cnv.gob.ar), BYMA (www.byma.com.ar) and the Nasdaq (www.nasdaq.com). Readers of this report must note that this is a free translation made from an original version written and expressed in Spanish. Therefore, any matters of interpretation should be referred to the original version in Spanish. Grupo Galicia Buenos Aires, Argentina, May 27, 2025, Grupo Financiero Galicia S.A. (“Grupo Galicia” o “GFG”, BYMA/NASDAQ: GGAL), announced its financial results for the first quarter, ended on March 31, 2025. Gonzalo Fernández Covaro Chief Financial Officer Conference Call May 28, 2025 11:00 am (Eastern Time) 12:00 pm (Argentina) To participate, register here. Pablo Firvida Head of Investor Relations The information in this report was adjusted and restated to constant currency, in accordance with IAS 29 “Financial Information in Hyperinflationary Economies” except otherwise noted. Grupo Financiero Galicia
Financial Report Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Grupo Galicia includes Banco de Galicia y Buenos Aires S.A.U. (Galicia), GGAL Holdings S.A. (Galicia Más), Tarjetas Regionales S.A. (Naranja X), Sudamericana Holding S.A. (Galicia Seguros), Galicia Asset Management S.A.U. (Fondos Fima), IGAM LLC (Inviu), Galicia Securities S.A.U., Agri Tech Investments LLC (Nera), Galicia Investments LLC, Galicia Ventures LP and Galicia Holdings US, Inc. It is one of the main financial services holding companies in the country. It provides savings, credit and investment opportunities to people and companies, and its board of directors has a high commitment in customer experience and sustainable development.
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ASG Regulatory changesFondos Fima Net profit per share Ps.90.88 Capital Ratio 24.38% Employees 12,145 Branches and other points of sale 501 Deposits accounts In thousands 17,507 Credit cards In thousands 15,622 4 Ps.145,978 million Net income for the quarter attributable to GFG -63% vs. 1Q 2024 ROE 8.88% -2,286 bp vs. 1Q 2024 Efficiency 50.44% +1,579 bp vs. 1Q 2024 Highlights Grupo Galicia launched Nera, a digital ecosystem with entrepreneurial spirit for those who want to have within easy reach all payment and financing alternatives for the agricultural sector, connecting suppliers and producers who want to grow in an agile and safe way.
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ASG Regulatory changesFondos Fima Selected ratios Percentages 2025 2024 2024 Variation (bp) 1Q 4Q 1Q vs.4Q24 vs.1Q24 ROA 1.68 7.92 6.96 (624) (528) ROE 8.88 44.82 31.74 (3,594) (2,286) Financial Margin 19.47 23.15 74.87 (368) (5,540) Efficiency ratio 50.44 71.77 34.65 (2,133) 1,579 Capital ratio (1) 24.38 21.61 29.91 277 (553) NPL Ratio 3.64 2.36 2.28 128 136 Allowance for loan losses / Private-sector financing 5.23 4.29 3.68 94 155 Coverage 143.58 181.56 161.60 (3,798) (1,802) Non-accrual portfolio with guarantees to non-accrual portfolio 3.71 5.40 3.74 (169) (3) Cost of risk 8.62 10.99 6.56 (237) 206 5 Selected financial information (1) Galicia consolidated with Naranja X and Galicia Más
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ASG Regulatory changesFondos Fima Net income attributable to Grupo Galicia for the quarter amounted to Ps.145,978 million, which represented a 1.68% annualized return on average assets and a 8.88% annualized return on average shareholder’s equity. Said result was mainly due to profits from its interest in Naranja X (Ps.64,463 million), in Galicia (Ps.37,110 million), in Fondos Fima (Ps.28,525 million), and in Galicia Seguros (Ps.11,389 million). 6 Results for the quarter Results of the main companies 37,110 64,463 11,389 28,525 380,020 35,278 (33,528) 17,583 1Q 2025 1Q 2024 Galicia Naranja X Galicia Seguros Fondos Fima
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ASG Regulatory changesFondos Fima Income Statement In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Net interest income 1,061,752 871,433 2,146,275 22 (51) Net fee income 361,860 366,831 253,516 (1) 43 Net results from financial instruments 243,435 331,112 334,648 (26) (27) Gold and foreign currency quotation differences 16,068 16,669 57,181 (4) (72) Other operating income 165,782 159,742 145,885 4 14 Underwriting income from insurance business 15,203 (70,358) (71,235) (122) (121) Loan loss provisions (404,101) (402,613) (134,705) — 200 Net operating income 1,459,999 1,272,816 2,731,565 15 (47) Personnel expenses (234,176) (518,914) (203,273) (55) 15 Administrative expenses (266,554) (222,107) (186,539) 20 43 Depreciations and devaluations of assets (62,027) (70,280) (45,723) (12) 36 Other operating expenses (283,118) (310,767) (415,165) (9) (32) Operating Income 614,124 150,748 1,880,865 307 (67) Results from the net monetary position (392,704) (271,468) (1,287,171) 45 (69) Results from associates and joint ventures (3,743) 785,074 (2,186) (100) n.m. Income tax (71,651) (42,963) (202,098) 67 (65) Net income 146,026 621,391 389,410 (77) (63) Net Income Attributable to Non-controlling Interests 48 (18) (164) (367) n.m. Net Income Attributable to Grupo Galicia 145,978 621,409 389,574 (77) (63) Other comprehensive income (85,511) 14,074 (398) n.m. n.m. Total comprehensive income 60,515 635,465 389,012 (90) (84) Total comprehensive income Attributable to Non-controlling Interests 48 (19) (164) (353) n.m. Total comprehensive income Attributable to Grupo Galicia 60,467 635,484 389,175 (90) (84) 7
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ASG Regulatory changesFondos Fima Balance Sheet In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Assets Cash and due from banks 5,835,261 7,108,907 3,386,655 (18) 72 Debt securities 1,331,347 1,637,927 800,351 (19) 66 Net loans and other financing 16,560,788 15,704,054 7,176,818 5 131 Other financial assets 8,796,124 8,640,136 7,711,452 2 14 Investment in subsidiaries, associates and joint ventures 1,923 4,438 4,079 (57) (53) Property, bank premises, equipment 1,099,591 1,080,828 847,177 2 30 Intangible assets 322,035 330,578 295,888 (3) 9 Other assets 816,581 777,956 433,005 5 89 Assest from insurance and reinsurance contracts 97,248 96,303 61,101 1 59 Assets available for sale 15,770 15,771 22 — n.m. Total assets 34,876,668 35,396,898 20,716,548 (1) 68 Liabilities Deposits 19,220,850 20,231,128 10,476,930 (5) 83 Financing from financial entities 517,648 479,637 274,906 8 88 Other financial liabilities 4,918,091 4,281,397 2,784,562 15 77 Negotiable obligations 1,061,435 1,096,012 231,553 (3) 358 Subordinated negotiable obligations 271,442 288,918 335,714 (6) (19) Other liabilities 1,429,536 1,703,301 1,209,613 (16) 18 Liabilities from insurance and reinsurance contracts 699,842 723,224 238,634 (3) 193 Total liabilities 28,118,844 28,803,617 15,551,912 (2) 81 Total Shareholders' equity 6,757,824 6,593,281 5,164,636 2 31 8 Selected financial information
Grupo Galicia Galicia Financial Report Naranja X Galicia Seguros Galicia Más Relevant information ASG Regulatory changesFondos Fima Since 1905, Galicia works for the development of Argentina, being the main private bank controlled by national capital. Through its assisted and digital distribution channels, it markets a wide range of financial products and services for individuals and companies throughout the country. Galicia defines the customer experience and digital transformation as strategic focuses to efficiently achieve successful growth.
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Portfolio Quality 2.75% +66 bp vs. 1Q 2024 Coverage 153.29% +485 bp vs. 1Q 2024 10 Ps.37,110 million Net income for the quarter -90% vs. 1Q 2024 ROE 3.14% -3,418 bp vs. 1Q 2024 Efficiency 54.52% +2,575 bp vs. 1Q 2024 Cost of risk 6.85% +200 bp vs. 1Q 2024 Capital Ratio 21.12% -1,071 bp vs. 1Q 2024 12.98% Market share: Loans to the private sector 14.20% Market share: Deposits to the private sector +78 bp vs. 1Q 2024 +400 bp vs. 1Q 2024 Highlights Branches Deposit accounts In thousands Employees Credit Cards In thousands 280 9,001 5,578 4,472 Digital clients 91%
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Income Statement In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Net interest income 617,558 565,591 1,821,875 9 (66) Net fee income 192,265 194,210 152,635 (1) 26 Net results from financial instruments 87,419 210,408 249,804 (58) (65) Gold and foreign currency quotation differences 9,208 22,067 44,934 (58) (80) Other operating income 47,101 52,625 77,813 (10) (39) Loan-loss provisions (216,050) (163,139) (73,755) 32 193 Net operating income 737,501 881,762 2,273,306 (16) (68) Personnel expenses (108,345) (253,584) (133,954) (57) (19) Administrative expenses (151,365) (157,026) (121,514) (4) 25 Depreciations and devaluations of assets (40,445) (40,095) (35,187) 1 15 Other operating expenses (170,570) (177,929) (335,454) (4) (49) Operating income 266,776 253,128 1,647,197 5 (84) Results from the net monetary position (214,972) (222,311) (1,037,112) (3) (79) Results from associates and joint businesses 1,894 624,210 (5,580) (100) (134) Income tax (16,588) (82,630) (224,485) (80) (93) Net Income 37,110 572,396 380,020 (94) (90) Other comprenhensive income (75,094) 15,155 30 n.m. n.m. Total comprenhensive income (37,984) 587,551 380,050 (106) (110) 11 Results for the quarter In the first quarter of 2025, Galicia registered a net income of Ps.37,110 million, Ps.342,910 million (90%) lower than the result of the same quarter of the previous year, which represented an annualized ROE of 3.14% and an ROA of 0.63%. The operating result was Ps.1,380,421 million (84%) lower than in the first quarter of 2024, as a consequence of a lower net operating income. Net operating income reached Ps.737,501 million, Ps.1,535,805 million (68%) lower than the Ps.2,273,306 million in the same quarter of the previous year, mainly as a consequence of a lower net interest income for Ps.1,204,317 million (66%), a lower result from financial instruments for Ps.162,385 million (65)% and a higher result from loan loss provisions for Ps.142,295 million (193%).
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima 12 Profitability and efficiency Financial margin Efficiency ratio (1) ROA ROE 0.63% 10.04% 8.37% 1Q 2025 4Q 2024 1Q 2024 3.14% 52.28% 37.32% 1Q 2025 4Q 2024 1Q 2024 17.44% 22.67% 76.94% 1Q 2025 4Q 2024 1Q 2024 54.52% 69.58% 28.77% 1Q 2025 4Q 2024 1Q 2024
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Interest-earning assets(1) Average balances: in millions of pesos. Yields and rates: annualized nominal % 2025 2024 2024 Variation (% | bp) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Avg Bce Yield Avg Bce Yield Avg Bce Yield Avg Bce Yield Avg Bce Yield In pesos 11,639,606 39.52 10,420,30 8 47.84 9,183,214 136.22 12 (832) 27 (9,670) Government securities 4,122,054 34.36 3,876,561 58.77 2,396,657 255.33 6 (2,441) 72 (22,097) Loans 7,126,368 43.50 6,056,291 44.78 3,612,622 102.05 18 (128) 97 (5,855) Other interest-earning assets 391,184 21.43 487,456 (1.13) 3,173,935 85.17 (20) 2,256 (88) (6,374) In foreign currency 3,247,334 4.60 2,278,712 3.87 1,093,461 49.32 43 73 197 (4,472) Government securities 343,889 1.35 364,679 5.33 655,681 79.98 (6) (398) (48) (7,863) Loans 2,859,109 5.04 1,881,746 3.72 356,668 4.03 52 132 702 101 Other interest-earning assets 44,336 1.70 32,287 (3.85) 81,112 0.58 37 555 (45) 112 Interest-earning assets 14,886,940 31.90 12,699,02 0 39.95 10,276,675 126.97 17 (805) 45 (9,507) (1) Does not include foreign currency quotation differences. Annual nominal interest rates were calculated using a 360-day denominator. Average interest-earning assets reached Ps.14,886,940 million, registering an increase of Ps.4,610,265 million (45%), compared to the first quarter of 2024. This increase was mainly the result of a higher volume of loans in pesos for Ps.3,513,746 million (97%) and of loans in foreign currency for Ps.2,502,441 million (702%), offset by a lower volume of other interest-earning assets in pesos for Ps.2,782,751 million (88%). The average yield on interest-earning assets for the first quarter was 31.90%, representing a decrease of 9,507 bp, compared to the same quarter of the previous year. This variation is mainly justified by lower average yields on government securities in pesos. 13 Yields and rates
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Interest-bearing liabilities(1) Average balances: in millions of pesos. Yields and rates: annualized nominal % 2025 2024 2024 Variation (%|bp) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Avg Bce Yield Avg Bce Yield Avg Bce Yield Avg Bce Yield Avg Bce Yield In pesos 7,197,890 25.28 6,263,192 30.53 5,249,430 85.21 15 (525) 37 (5,993) Saving accounts 1,101,371 0.02 1,022,176 0.02 783,077 0.02 8 — 41 — Time deposits 4,544,648 30.55 3,276,340 39.33 2,297,348 113.29 39 (878) 98 (8,274) Other Deposits 1,214,579 24.92 1,624,672 30.95 1,766,852 87.47 (25) (603) (31) (6,255) Debt securities 167,809 40.90 104,712 46.33 34,400 92.74 60 (543) 388 (5,184) Other interest-bearing liabilities 169,483 35.14 235,292 33.17 367,753 79.67 (28) 197 (54) (4,453) In foreign currency 6,451,895 1.15 6,681,566 1.13 2,929,558 1.87 (3) 2 120 (72) Saving accounts 3,525,127 — 3,003,449 — 2,073,980 — 17 — 70 — Time deposits 579,002 1.85 557,835 2.96 343,972 1.61 4 (111) 68 24 Other Deposits 1,406,496 — 2,391,632 — 43,414 — (41) — n.m — Debt securities 888,414 6.70 705,580 7.92 389,613 9.75 26 (122) 128 (305) Other interest-bearing liabilities 52,856 7.76 23,070 13.82 78,579 14.20 129 (606) (33) (644) Interest-bearing liabilities 13,649,78 5 13.87 12,944,75 8 15.40 8,178,988 55.36 5 (153) 67 (4,149) Interest bearing liabilities reached Ps.13,649,785 million, registering an increase of Ps.5,470,797 million (67%) in relation to the same period of 2024, mainly due to an increase in time deposits in pesos for Ps.2,247,300 million (98%), of saving accounts in foreign currency for Ps.1,451,147 million (70%) and of other deposits in foreign currency for Ps.1,363,082 million. Likewise, the average rate on interest-bearing liabilities was 13.87%, registering a decrease of 4,149 bp with respect to the second quarter of the previous year, as a consequence of the decrease in the interest rate on time deposits in pesos for 8,274 bp. (1) Does not include foreign currency quotation differences. Annual nominal interest rates were calculated using a 360-day denominator. 14
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Interest Income In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Government securities 272,814 360,291 1,382,844 (24) (80) Other financial assets — 45 — (100) N/A Loans and other financing 814,242 698,922 923,654 16 (12) Financial sector 12,483 11,477 6,913 9 81 Non-financial private sector 801,759 687,445 916,741 17 (13) Overdrafts 68,647 49,591 121,289 38 (43) Promissory notes 222,220 205,374 326,906 8 (32) Mortgage loans 63,330 66,196 172,184 (4) (63) Pledge loans 21,552 18,255 10,233 18 111 Personal loans 204,594 167,589 90,144 22 127 Credit-card loans 207,422 169,065 191,579 23 8 Financial leases 3,308 2,983 2,286 11 45 Pre-financing and export financing 7,550 4,043 662 87 n.m. Other 3,136 4,349 1,458 (28) 115 Repurchase agreement transactions 3,931 4,188 645,859 (6) (99) Interest income 1,090,987 1,063,446 2,952,357 3 (63) Net interest income Net interest income for the quarter amounted to Ps.617,558 million, with a Ps.1,204,317 million (66%) decrease compared to the Ps.1,821,875 million profit from the same quarter of 2024. Interest income for the quarter reached Ps.1,090,987 million, 63% lower than the Ps.2,952,357 million registered in the first quarter of 2024. This decrease was a consequence of: • lower interest on government securities for Ps.1,110,030 million (80%). • lower interest on repurchase agreement transactions for Ps.641,928 million (99%), • lower interest on loans and other financing for Ps.109,412 million (12%), as a result of lower income from morgages loans (63%) and promissory notes (32%). 15
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Interest expenses totaled Ps.473,429 million, registering a decrease of Ps.657,053 million (58%), compared to the same quarter of 2024. This decrease was a consequence of lower interest expenses on time deposits and term investments for Ps.302,275 million (46%), generated by the decrease in the annual nominal interest rate and the average volume of deposits and lower interest expenses on other deposits for Ps.310,710 million (80%). Interest expenses In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Deposits 425,492 452,012 1,038,462 (6) (59) Saving accounts 46 44 31 5 48 Time deposits and term investments 349,786 326,277 652,061 7 (46) Other 75,660 125,691 386,370 (40) (80) Financing from financial institutions 4,669 2,189 2,096 113 123 Repurchase agreement transactions 8,646 7,724 5,164 12 67 Other interest-bearing liabilities 2,629 10,432 68,977 (75) (96) Negotiable obligations 26,521 19,589 8,410 35 215 Subordinated Negotiable obligations 5,472 5,909 7,373 (7) (26) Interest expenses 473,429 497,855 1,130,482 (5) (58) 16
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Net Fee Income In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Credit cards 80,268 80,275 63,833 — 26 Deposit accounts 32,854 34,429 24,434 (5) 34 Insurance 5,539 5,989 4,029 (8) 37 Financial fees 407 1,668 65 (76) n.m Credit- related fees 1,793 2,159 946 (17) 90 Foreign trade 11,445 8,180 7,870 40 45 Collections 17,064 17,851 14,873 (4) 15 Utility-Bills collection services 18,428 14,709 13,656 25 35 Mutual Funds 7,251 6,834 4,865 6 49 Fees from bundles of products 25,677 27,302 23,670 (6) 8 Other 29,370 30,075 24,301 (2) 21 Total fee income 230,096 229,471 182,542 — 26 Total expenditures (37,831) (35,261) (29,907) 7 26 Net fee income 192,265 194,210 152,635 (1) 26 The net fee income reached Ps.192,265 million, registering an increase of 26% compared to Ps.152,635 million in the first quarter of 2024. This increase was mainly due to higher credit-cards fees of Ps.16,435 million (26%) and deposit-accounts fees of Ps. 8,420 million (34%). 17 Net fee income
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Net Income from Financial Instruments In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Government securities 51,437 160,898 156,116 (68) (67) Argentine Central Bank — — — N/A N/A Other 51,437 160,898 156,116 (68) (67) Private sector securities 12,913 (9,882) 6,094 (231) 112 Derivative financial instruments (9,077) 5,808 (44,102) (256) 79 Forward transactions (9,077) 5,808 (35,671) (256) (75) Options – – (8,431) — 100 Results of other financial assets/liabilities (4) (34) 10 (88) (140) Results from derecognition of assets 32,150 53,618 131,686 (40) (76) Net income from financial instruments 87,419 210,408 249,804 (58) (65) The result from quotation differences of gold and foreign currency for the quarter was a Ps.9,208 million profit, Ps.35,726 million (80%) lower than the profit of Ps.44,934 million registered in the same quarter of the previous year. This result includes a gain of Ps.23,385 from foreing currency trading. The net result from financial instruments was Ps.87,419 million, Ps.162,385 million lower than the Ps.249,804 million recorded in the same quarter of 2024. This decrease was a consequence of a lower result from government securities of Ps.104,679 million (67%) and derecognitions of assets for Ps.6,819 million (112%), offset by a higher result from derivative financial instruments of Ps.35,025 million (79%). 18 Gold and foreign currency quotation differences Net income from financial instruments
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Other Operating Income In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Other financial income 2,507 2,123 1,474 18 70 Rental of safe deposit boxes 10,501 11,578 5,019 (9) 109 Other fee income 1,816 1,860 961 (2) 89 Other adjustments and interest on miscellaneous receivables 19,042 17,714 56,715 7 (66) Other 13,235 19,350 13,644 (32) (3) Total other operating income 47,101 52,625 77,813 (10) (39) In the first quarter, other operating income amounted to Ps.47,101 million, registering a decrease of Ps.30,712 million (39%) compared to those registered in the same quarter of 2024. This lower result was mainly due to the decrease in other adjustments and interest on miscellaneous receivables for Ps.37,673 million (66%). Loan loss provisions for the quarter totaled Ps.216,050 million, Ps.142,295 million (193%) higher than those recorded in the same quarter of the previous year, mainly as a result of a larger financing portfolio and a higher deliquency. 19 Loan-loss provisions Other operating income
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Administrative Expenses In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Fees and compensations for services 9,801 15,317 6,446 (36) 52 Fees to directors and syndics 263 171 273 54 (4) Publicity, promotion and research expenses 8,379 7,518 2,916 11 187 Taxes 33,194 30,032 30,450 11 9 Maintenance and repairment of goods and IT 35,290 32,357 29,493 9 20 Electricity and communications 6,593 7,370 7,293 (11) (10) Stationery and office supplies 1,343 915 814 47 65 Hired administrative services 33,619 31,034 21,406 8 57 Security 3,994 4,561 2,833 (12) 41 Insurance 1,620 1,272 1,525 27 6 Other 17,269 26,479 18,065 (35) (4) Total administrative expenses 151,365 157,026 121,514 (4) 25 Administrative expenses for the quarter reached Ps.151,365 million, registering an increase of Ps.29,851 million (25%) compared to the first quarter of the previous year. This increase was a consequence of higher hired administrative services for Ps.12,213 million (57%), maintence and repairment of goods and IT for Ps.5,797 million (20%) and publicity, promotion and research expenses for Ps.5,463 million (187%). Personnel expenses reached Ps.108,345 million, registering a decrease of Ps.25,609 million (19%) compared to the same quarter of 2024. In this quarter, the restructuring provision established in the fourth quarter of 2024 began to be used. 20 Administrative expenses Personnel expenses
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Other Operating Expenses In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Contribution to the Deposit Insurance Fund 6,415 5,355 3,744 20 71 Other financial results — 28 3,819 (100) 100 Turnover tax 84,745 84,449 174,969 — (52) On financial income 70,150 71,047 144,695 (1) (52) On fees 13,385 11,753 18,754 14 (29) On other items 1,210 1,649 11,520 (27) (89) Other fee-related expenses 65,850 54,926 58,450 20 13 Charges for other provisions 2,858 4,478 87,550 (36) (97) Claims 7,063 5,117 3,816 38 85 Other 3,639 23,576 3,106 (85) 17 Total other operating expenses 170,570 177,929 335,454 (4) (49) Other operating expenses for the quarter reached Ps.170,570 million, which represented a decrease of Ps.164,884 million (49%), compared to the Ps.335,454 million recorded in the first quarter of the previous year. This decrease was mainly generated by lower turnover tax for Ps.90,224 million (52%) mainly related for financial operations, and lower charges for other provisions for Ps.84,692 million (97%). The result from depreciation and devaluation of assets reached Ps.40,445 million, registering a increase of 15% compared to the same quarter of 2024. 21 Other operating expenses Depreciation and devaluation of assets
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima The income tax charge was Ps.16,588 million, Ps.207,897 million lower than in the first quarter of 2024, mainly, as a consequence of a lower operating result. 22 In the first quarter of 2025, Galicia recorded a gain of Ps.(75,094) million in other comprehensive income (OCI), mainly from Treasury Bills (LECAP) and for the Galicia Mas Holding incorporation. Other comprehensive income Income tax The result for associates and joint ventures includes a gain of Ps.4,355 millions corresponding to the quarter from Galicia Más Holdings. Results from associates and joint businesses
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Balance Sheet In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Assets Cash and due from banks 4,506,715 5,737,605 3,228,159 (21) 40 Debt securities 554,045 1,056,525 579,980 (48) (4) Net loans and other financing 10,777,885 9,869,234 5,138,636 9 110 Other financial assets 5,796,682 4,736,191 6,950,053 22 (17) Equity investments in subsidiaries, associates and joint businesses 1,005,620 1,030,384 8,288 — n.m Property, bank premises, equipment 784,098 758,060 767,450 3 2 Intangible assets 244,605 248,728 249,103 (2) (2) Other assets 171,834 114,063 234,452 51 (27) Assets available for sale 24 23 23 4 4 Total assets 23,841,508 23,550,813 17,156,144 1 39 Liabilities Deposits 14,986,235 15,491,097 10,120,694 (3) 48 Financing from financial entities 125,517 89,440 66,238 40 89 Other financial liabilities 2,249,633 1,395,879 1,372,021 61 64 Negotiable obligations 859,362 741,855 71,057 16 n.m Subordinated negotiable obligations 271,442 288,918 337,025 (6) (19) Other liabilities 604,154 760,476 898,230 (21) (33) Total liabilities 19,096,343 18,767,665 12,865,265 2 48 Shareholders' equity 4,745,165 4,783,148 4,290,879 (1) 11 Foreign currency assets and liabilities Assets 7,469,815 8,288,378 4,549,342 (10) 64 Liabilities 7,407,196 8,275,107 3,996,471 (10) 85 Net forward purchases/(sales) of foreign currency (1) (89,290) (206,009) 59,670 (57) (250) Net global position in foreign currency (26,671) (192,738) 612,541 (86) (104) (1) Recorded off-balance sheet. 23 Selected financial information
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Financing to the Private Sector(1) In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 In pesos 8,886,522 8,133,741 4,736,744 9 88 Loans 7,154,928 6,650,487 4,124,098 8 73 UVA-adjusted loans 853,796 665,865 352,120 28 142 Financial leases 28,544 25,754 11,433 11 150 Other financing(2) 849,254 791,635 249,093 7 241 In foreign currency 3,722,756 3,313,670 1,343,591 12 177 Loans 2,990,101 2,606,854 679,979 15 340 Financial leases 1,956 2,108 748 (7) 161 Other financing(2) 730,699 704,708 662,864 4 10 Total financing to the private sector 12,609,278 11,447,411 6,080,335 10 107 (1) Includes IFRS adjustments. (2) Includes certain off-balance sheet accounts related to guarantees granted. 24 As of March 31, 2025, financing to the private sector reached Ps.12,609,278 million, registering a 107% increase compared to the same period of the previous year. This increase was mainly due to higher loans in pesos for Ps.3,030,830 million (73%) and a higher loans in foreign currency for Ps.2,310,122 million (340%). The market share of total loans to the private sector as of March 31, 2025, reached 12.98%, which represented an increase of 78 bp compared to the first quarter of 2024. Financing Level of activity
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Breakdown of loans and other financing In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Financial entities 104,355 159,569 14,648 (35) 612 Loans 104,355 159,569 14,648 (35) 612 Other financing — — — N/A N/A Non-financial private sector and residents abroad 11,144,240 10,050,040 5,294,838 11 110 Loans 10,894,470 9,763,637 5,141,549 12 112 Overdrafts 776,013 458,197 654,080 69 19 Promissory notes 4,113,521 3,684,727 1,520,202 12 171 Mortgage loans 527,440 344,057 59,670 53 784 Pledge loans 301,468 281,784 71,708 7 320 Personal loans 1,276,299 1,116,872 397,693 14 221 Credit-card loans 2,758,739 2,697,682 1,661,662 2 66 Pre-financing and financing of exports 525,152 462,969 200,542 13 162 Other Loans 174,570 364,917 148,172 (52) 18 Accrued interest, adjustments and foreign currency quotation differences receivable 465,636 378,404 447,976 23 4 Documented interest (24,368) (25,972) (20,156) (6) 21 Financial leases 30,500 27,862 12,181 9 150 Other financing 219,270 258,541 141,108 (15) 55 Non-financial public sector 2,331 802 322 191 624 Total loans and other financing 11,250,926 10,210,411 5,309,808 10 112 Allowances (473,041) (341,177) (171,172) 39 176 Loans (465,824) (334,674) (168,576) 39 176 Financial leases (1,390) (920) (329) 51 322 Other financing (5,827) (5,583) (2,267) 4 157 Net loans and other financing 10,777,885 9,869,234 5,138,636 9 110 As of March 31, 2025, the loan portfolio and other financing net of provisions reached Ps.10,777,885 million, registering a 110% increase compared to the first quarter of the previous year. The main increases were in: • promissory notes for Ps.2,593,319 million (171%), • credit cards for Ps.1,097,077 million (66%), and • personal loans for Ps.878,606 million (221%). 25
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Net Exposure to the Argentine Public Sector(1) In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Government securities' net Position 4,454,695 5,077,752 4,084,063 (12) 9 Measured at fair value 492,522 1,259,375 593,370 (61) (17) In pesos 346,298 545,149 14,534 (36) — Adjusted by CER 102,793 623,653 51,949 (84) 98 In foreign currency 43,431 59,703 34,282 (27) 27 Dual Bond — 30,870 492,605 (100) (100) Measured at amortized cost 2,002,829 2,374,859 3,490,693 (16) (43) In pesos 188,631 265,518 346,382 (29) (46) Adjusted by CER 1,459,173 1,794,952 2,908,438 (19) (50) In foreign currency 355,025 314,389 88,273 13 302 Lediv — — 147,600 — (100) Measured at fair value through OCI 1,959,344 1,443,518 — 36 N/A In pesos 1,845,334 1,330,605 — 39 N/A Adjusted by CER 114,010 112,913 — 1 N/A Other receivables resulting from financial brokerage 2,331 803 2,804,626 190 (100) Repurchase agreement transactions -Argentine Central Bank — — 2,804,303 — (100) Loans and other financing 2,331 803 323 190 622 Total exposure to the public sector 4,457,026 5,078,555 6,888,689 (12) (35) (1) Excludes deposits with the Argentine Central Bank, which constitutes one of the items by which the Bank complies with minimum cash requirements. 26 Exposure to the Argentine public sector
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Deposits In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 In pesos 8,933,615 8,383,001 6,846,381 7 30 Current accounts 1,487,636 1,604,457 1,172,089 (7) 27 Saving accounts 1,203,167 1,350,063 881,481 (11) 36 Time deposits 4,674,723 3,743,864 2,773,122 25 69 UVA-adjusted time deposits 52,933 76,126 129,604 (30) (59) Other 1,325,433 1,378,199 1,585,364 (4) (16) Interests and adjustments 189,723 230,292 304,721 (18) (38) In foreign currency 6,052,620 7,108,096 3,274,313 (15) 85 Saving accounts 4,430,116 5,195,674 2,001,730 (15) 121 Time deposits 558,042 516,362 304,865 8 83 Other 1,063,136 1,394,906 967,116 (24) 10 Interests and adjustments 1,326 1,154 602 15 120 Total deposits 14,986,235 15,491,097 10,120,694 (3) 48 Deposits amounted to Ps.14,986,235 million as of March 31, 2025, registering a 48% increase compared to the first quarter of the previous year. This increase was the result of a higher volume of saving accounts in foreign ciurrency for Ps.2,428,386 million (121%), in time deposits in pesos for Ps.1,901,601 million (69%) and saving accounts in pesos for Ps.321,686 millones (36%). 27 Funding and liabilities As of March 31, 2025, net exposure to the public sector reached Ps.4,457,026 million, registering a decrease of 35% in the last twelve months, as a result of a decrease in repurchase agreement transactions for Ps.2,804,303 million. The net exposure to the public sector represents a 19% of the total asset, while in the first quarter of 2024 said exposure represented a 40% of total asset.
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Financial Liabilities In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Financial entities 125,517 89,440 66,238 40 89 Financing from credit-card purchases 610,396 683,972 450,363 (11) 36 Negotiable obligations 859,362 741,855 71,057 16 n.m. Subordinated negotiable obligations 271,442 288,918 337,025 (6) (19) Creditors from purchases of foreign currency 1,002,987 41,254 68,402 n.m. n.m. Collections on account of third parties 271,984 269,969 257,317 1 6 Other financial liabilities 364,266 400,683 595,939 (9) (39) Total financial liabilities 3,505,954 2,516,091 1,846,341 39 90 Financial liabilities amounted to Ps.3,505,954 million, registering an increase of Ps.1,659,613 million (90%) compared to the Ps.1,846,341 million registered in the first quarter of 2024. The variation was mainly due to an increase of creditors from purchases of foreign currency for Ps. 934,585 million and of negotiable obligations for Ps.788,305 million, offset by a decrease in other financial liabilities for Ps.231,673 million (39%). On February 6, 2025, Banco Galicia issued Class XXI of Notes for a nominal value of Ps.79,787 million at a TAMAR rate +2.75%, maturing on February 10, 2026. On the same date, Banco Galicia issued Class XXII of Notes for a nominal value of US$ 73.8 million at a fixed rate of 4.75%, maturing on August 10, 2025. On March 7, 2025, Banco Galicia issued Class XXIII of Notes for a nominal value of US$69.9 million at a fixed rate of 4.75% and maturing on November 28, 2025. 28 Financial Liabilities Total deposit accounts as of March 31, 2025, reached 9.0 million, with an increase of 19% compared to the same date of the previous year. The market share of private sector deposits reached 14.20% as of March 31, 2025, registering an increase of 400 bp compared to the first quarter of 2024.
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Liquidity Percentages, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Cash and due from banks 4,506,715 5,737,605 3,228,159 (21) 40 Government securities 524,188 256,237 256,405 105 104 Call-money 18,788 44,086 — (57) — Overnight placements in correspondent banks 168,326 394,850 147,694 (57) 14 Repurchase agreement transactions 41,268 (38,461) 2,822,174 (207) (99) Escrow accounts 298,244 289,395 217,976 3 37 Other financial assets 326,326 213,906 1,044 53 n.m. Total liquid assets 5,883,855 6,897,618 6,673,452 (15) (12) Liquidity ratios (%) Variation (bp) Liquid assets as a percentage of transactional deposits 62.42 63.60 104.92 (118) (4,250) Liquid assets as a percentage of total deposits 39.26 44.53 65.94 (527) (2,668) As of March 31, 2025, the Bank’s liquid assets represented 62.42% of the Bank’s transactional deposits and 39.26% of its total deposits, compared to 104.92% and 65.94%, respectively, as of March 31, 2024. 29 Liquidity
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Financing Portfolio Quality In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Non-accrual Financings 347,108 211,243 127,046 64 173 With preferred guarantees 11,929 13,853 4,980 (14) 140 With other guarantees 13,427 8,529 2,019 57 565 Without guarantees 321,752 188,861 120,047 70 168 Allowance for loan losses 532,097 393,441 188,583 35 182 Relevant ratios (%) Variation (bp) NPL Ratio 2.75 1.85 2.09 90 66 Allowance for loan losses to loans to the private sector 4.22 3.44 3.10 78 112 Coverage 153.29 186.25 148.44 (3,296) 485 Non-accrual loans with guarantees to non-accrual financing 7.30 10.60 5.51 (330) 179 Cost of risk 6.85 6.48 4.85 37 200 The non-accrual financing portfolio (that includes certain items of other financial assets and guarantees granted) amounted to Ps.347,108 million as of March 31, 2025, representing 2.75% of total financing, recording a 66 bp decrease as compared to the 2.09% recorded in the same quarter of 2024. Considering the provisions on unused balances of credit cards and overdrafts, the Bank’s coverage of the non-accrual portfolio with total allowances for loan losses reached 153.29%, compared to 148.44% of a year before. 30 Asset quality
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Analysis of Loan Loss Experience In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Allowance for loan losses At the beginning of the quarter 393,441 294,373 215,288 34 83 Changes in the allowance for loan losses Provisions charged to income 215,244 162,219 73,197 33 194 Charge offs (39,267) (38,167) (19,962) 3 97 Inflation effect (37,321) (24,984) (79,940) 49 (53) Allowance for loan losses at the end of the quarter 532,097 393,441 188,583 35 182 Charge to the income statement Provisions charged to income (215,244) (162,219) (73,197) 33 194 Direct charge offs (806) (920) (558) (12) 44 Bad debts recovered 2,879 3,151 1,793 (9) 61 Net charge to the income statement (213,171) (159,988) (71,962) 33 196 During the quarter, Ps.39,267 million were charged off against the allowance for loan losses and direct charges to the income statement for Ps.806 million were made. 31
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Regulatory Capital In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Minimum capital requirement (A) 1,343,100 1,282,067 607,997 5 121 Allocated to credit risk 1,121,143 878,871 413,061 28 171 Allocated to market risk 20,370 38,581 8,109 (47) 151 Allocated to operational risk 201,587 364,615 186,827 (45) 8 Computable capital (B) 3,459,467 2,903,779 2,363,657 19 46 Tier I 3,405,773 2,852,154 2,277,915 19 50 Tier II 53,694 51,625 85,742 4 (37) Excess over required capital (B) (A) 2,116,367 1,621,712 1,755,660 31 21 Risk weighted assets 16,380,558 15,703,410 7,426,063 4 121 Ratios (%) Variation (bp) Total capital ratio 21.12 18.49 31.83 263 (1,071) Tier I capital ratio 20.79 18.16 30.67 263 (988) The minimum capital requirement and the corresponding computable capital are presented below. Balances are disclosed in accordance with the applicable regulation in force and in currency of each period. As of March 31, 2025, the computable capital was Ps.3,459,467 million and the minimum capital requirement was Ps.1,343,100 million, which represented an excess of Ps.2,116,367 million (158%). This excess was Ps.1,755,660 million (289%) as of the same date in 2024. The capital requirement increased Ps.735,103 million and the computable capital increased Ps.1,095,810 million, compared to the first quarter of 2024. The Tier 1 total capital ratio was 20.79%, representing a decrease of 988 bp compared to the first quarter of 2024 and a decrease of 263 bp compared to the fourth quarter of 2024. The latter variation was mainly due to an increase in equity resulting from monthly inflation adjustments, earnings, and operational risk due to regulatory changes. This was offset by unused credit card balances and overdraft facilities, also affected by regulatory changes and portfolio growth. Regarding the ratio's change between March 2025 and March 2024, the main changes include an increase in the financing portfolio, the incorporation of the Tier 1 deduction for the Galicia Más stake, an increase in off-balance sheet items, and unused credit card and current account balances due to regulatory changes. This was offset by an increase in equity due to the monthly adjustment for inflation and earnings. 32 Capitalization
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Income Consolidated Statement In millions of pesos, except otherwise noted 2025 2024 2024 Variación (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Net interest income 800,459 632,423 1,821,875 27 (56) Net fee income 219,796 203,498 152,635 8 44 Net results from financial instruments 132,485 247,999 249,804 (47) (47) Gold and foreign currency quotation differences 16,428 24,058 44,934 (32) (63) Other operating income 71,765 66,351 77,813 8 (8) Loan-loss provisions (247,286) (232,744) (73,755) 6 235 Net operating income 993,645 941,586 2,273,306 6 (56) Personnel expenses (169,916) (475,467) (133,954) (64) 27 Administrative expenses (206,271) (172,904) (121,514) 19 70 Depreciations and devaluations of assets (54,091) (64,888) (35,187) (17) 54 Other operating expenses (190,902) (212,374) (335,454) (10) (43) Operating income 372,466 15,953 1,647,197 n.m (77) Results from the net monetary position (321,323) (265,093) (1,037,112) 21 (69) Results from associates and joint businesses (2,364) 730,013 (5,580) (100) (58) Income tax (14,601) 13,787 (224,485) (206) (93) Net Income 34,178 494,659 380,020 (93) (91) Net income attributable to Galicia 37,110 494,659 380,020 (92) (90) Net income attributable to Non-controlling Interests (2,932) (77,737) — (96) N/A Other comprenhensive income (86,254) 14,744 30 n.m n.m Total comprenhensive income (52,076) 509,404 380,050 (110) (114) Total comprehensive income attributable to Galicia (37,984) 509,404 380,050 (107) (110) Total comprehensive income attributable to Non-controlling interests (14,092) (78,148) — (82) N/A 33 Consolidated Result for the quarter
Grupo Galicia Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Balance Sheet In millions of pesos, except otherwise noted 2025 2024 2024 Variación (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Assets Cash and due from banks 5,575,580 6,942,887 3,228,159 (20) 73 Debt securities 1,130,608 1,487,338 579,980 (24) 95 Net loans and other financing 12,585,958 12,000,356 5,138,636 5 145 Other financial assets 7,633,286 7,088,221 6,950,053 8 10 Equity investments in subsidiaries, associates and joint businesses 7,831 10,633 8,288 (26) (6) Property, bank premises, equipment 1,015,601 996,122 767,450 2 32 Intangible assets 280,339 287,812 249,103 (3) 13 Other assets 604,513 558,909 234,452 8 158 Assets available for sale 15,770 15,770 23 — n.m Total assets 28,849,486 29,388,048 17,156,144 (2) 68 Liabilities Deposits 17,907,358 18,865,603 10,120,694 (5) 77 Financing from financial entities 125,550 89,452 66,238 40 90 Other financial liabilities 2,579,261 1,941,539 1,372,021 33 88 Negotiable obligations 857,932 741,086 71,057 16 n.m Subordinated negotiable obligations 372,711 392,405 337,025 (5) 11 Other liabilities 1,519,064 1,818,277 898,230 (16) 69 Total liabilities 23,361,876 23,848,362 12,865,265 (2) 82 Shareholders' equity 5,487,610 5,539,686 4,290,879 (1) 28 Shareholders' equity attributable to Galicia 4,745,165 4,783,148 4,290,879 (1) 11 Shareholders' equity attributable to Non-controlling Interests 742,445 756,538 — (2) N/A Foreign currency assets and liabilities Assets 9,243,148 10,217,373 4,549,342 (10) 103 Liabilities 8,817,531 10,176,964 3,996,471 (13) 121 Net forward purchases/(sales) of foreign currency (1) (38,726) (149,359) 59,670 (74) (165) Net global position in foreign currency 386,891 (108,950) 612,541 (455) (37) Consolidated Selected Financial Information (1) Recorded off-balance sheet. 34
Grupo Galicia Financial Report Galicia Naranja X Galicia Seguros Galicia Más Relevant information ASG Regulatory changesFondos Fima Naranja X is the fintech entity of Grupo Galicia that assists clients to promote the use of money. Naranja X creates technological solutions for the personal and business financials of millions of Argentines. Naranja X’s biggest challenge is being easily accessible to customers and providing them with simple tools to help them grow, improve their quality of life and access a world of possibilities.
Grupo Galicia Naranja XGalicia Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima 2,645 Employees 10,051 Credit cards in thousands 115 Branches and other points of sale 36 Ps.64,463 million Net income for the quarter attributable to Naranja X +82% vs. 1Q 2024 ROE 29.54% +807 bp vs. 1Q 2024 Efficiency ratio 31.99% -2,139 bp vs. 1Q 2024 Highlights 7,401 Deposit accounts In thousands 82% Digital Clients Deposits account in thousands 1Q25 Ps.1.216 4.71% Market share: Personal Loans 2.40% Market share: Saving accounts
Grupo Galicia Naranja XGalicia Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Income Statement In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Net interest income 264,581 219,371 297,260 21 (11) Net fee income 147,204 148,298 100,283 (1) 47 Net results from financial instruments 57,103 59,125 34,330 (3) 66 Gold and foreign currency quotation differences (5,038) (3,863) 4,143 30 (222) Other operating income 42,589 39,008 26,217 9 62 Loan loss provisions (156,814) (169,869) (60,950) (8) 157 Net operating income 349,625 292,070 401,283 20 (13) Personnel expenses (50,659) (51,241) (45,569) (1) 11 Administrative expenses (52,908) (55,533) (50,238) (5) 5 Depreciations and devaluations of assets (7,453) (9,247) (7,391) (19) 1 Other operating expenses (79,031) (82,140) (68,854) (4) 15 Operating income 159,574 93,909 229,231 70 (30) Results from the net monetary position (56,501) (51,344) (187,798) 10 (70) Income tax (38,699) (17,267) (6,155) 124 529 Net income 64,374 25,298 35,278 154 82 Net Income Attributable to Non-controlling Interests (89) (29) — 207 N/A Net Income Attributable to Naranja X 64,463 25,327 35,278 155 83 Other comprehensive income 800 399 (644) 101 (224) Total comprehensive income 65,174 25,697 34,634 154 88 Total comprehensive income to Non-controlling Interests (49) 2 — n.m. N/A Total comprehensive income to Naranja X 65,223 25,695 34,634 154 88 37 Results for the quarter In the first quarter, Naranja X recorded a net result attributable to the company of Ps.64,463 million in profit, Ps.29,185 million higher than the result recorded in the same period of the previous year. This is due to a lower loss from the net monetary result. Net operating income decreased by Ps.51,658 million (13%), mainly as a result of a higher loss for loans loss provisions for Ps.95,864 million (157%), offset by an increase in net fee income for Ps.46,921 million (47%). The result for the quarter represented, on an annualized basis, an ROA of 4.82% and an ROE of 29.54%, while in the first quarter of 2024 they represented 4.85% and 21.47%, respectively.
Grupo Galicia Naranja XGalicia Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima 38 Profitability and efficiency Financial margin Efficiency ratio ROA ROE 4.82% 2.10% 4.85% 1Q 2025 4Q 2024 1Q 2024 29.54% 11.98% 21.47% 1Q 2025 4Q 2024 1Q 2024 26.36% 24.68% 51.36% 1Q 2025 4Q 2024 1Q 2024 31.99% 37.13% 53.38% 1Q 2025 4Q 2024 1Q 2024
Grupo Galicia Naranja XGalicia Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Balance Sheet In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Assets Cash and due from banks 197,471 71,732 41,343 175 378 Debt securities — — 59,974 — (100) Net loans and other financing 4,061,715 3,807,419 2,104,012 7 93 Other financial assets 1,041,389 1,443,250 623,430 (28) 67 Property, bank premises, equipment 74,276 74,919 75,579 (1) (2) Intangible assets 19,369 19,255 19,669 1 (2) Other non-financial assets 129,162 107,019 75,669 21 71 Total assets 5,523,382 5,523,594 2,999,676 — 84 Liabilities Deposits 1,520,018 1,539,768 461,325 (1) 229 Financing from financial entities 480,983 493,106 299,927 (2) 60 Other financial liabilities 2,122,059 2,132,505 1,223,784 — 73 Negotiable obligations 223,438 274,571 167,350 (19) 34 Other non-financial liabilities 258,347 230,308 160,582 12 61 Total liabilities 4,604,845 4,670,258 2,312,968 (1) 99 Shareholders' equity 918,537 853,336 686,708 8 34 Shareholders' equity attributable to Non-controlling 1,072 1,093 — (2) N/A Shareholders' equity attributable to Naranja X 917,465 852,243 686,708 8 34 39 Selected financial information
Grupo Galicia Naranja XGalicia Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Loan Portfolio Quality Percentages, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Non-accrual loans 288,007 203,628 59,824 41 381 Allowances for loan losses and provisions 355,946 278,127 113,465 28 214 Ratios (%) Variation (bp) NPL Ratio 6.64 5.59 2.88 105 376 Allowance for loan losses to loans to the private sector 8.20 7.63 5.46 57 274 Coverage 123.59 148.29 189.66 (2,470) (6,607) Cost of risk 14.84 19.53 11.72 (469) 312 Taking into consideration the provisions for unused credit-card balances, the coverage ratio as of March 31, 2025, amounted to 123.59%, compared to 189.66% on the same date of the previous year. 40 Assets quality
Grupo Galicia Naranja XGalicia Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos Fima Analysis of Loan Loss Experience In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Allowances for loan losses At the beginning of the quarter 278,127 198,251 100,716 40 176 Changes in the allowance for loan losses Provisions charged to income 153,747 167,055 59,194 (8) 160 Reversals of allowances for loan losses (71) (744) (6,823) (90) (99) Charge off (50,452) (68,325) (816) (26) n.m. Effect of inflation (25,405) (18,110) (38,806) 40 (35) Allowance for loan losses at the end of the quarter 355,946 278,127 113,465 28 214 Charge to the income statement Provisions charged to income (153,747) (167,055) (59,194) (8) 160 Direct charge offs (3,067) (2,814) (1,756) 9 75 Bad debt recovered 5,509 3,761 1,436 46 284 Net charge to the income statement (151,305) (166,108) (59,514) (9) 154 41
Grupo Galicia Galicia Seguros Financial Report Galicia Naranja X Galicia Más Relevant information ASG Regulatory changesFondos Fima Galicia Seguros’s commercial activity began in 1996 as a member of the Galicia Group. Provides insurance solutions for individuals, SMEs, large companies and the agricultural sector. Its commitment is reflected in a wide network of marketing channels that facilitate access to coverage adapted to the needs of each client.
Grupo Galicia Galicia SegurosGalicia Naranja X Galicia Más Relevant information ESG Regulatory changesFondos Fima 691 2,999 Employees Polices In thousands 43 Clients In thousands Ps.12,695 million Net income for the quarter attributable to Seguros -134% vs. 1Q 2024 ROE 98.18% +41,128 bp vs. 1Q 2024 Combined Ratio 95.72% -9,929 bp vs. 1Q 2024 936 Highlights
Grupo Galicia Galicia SegurosGalicia Naranja X Galicia Más Relevant information ESG Regulatory changesFondos Fima Income Statement In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Income from insurance services 106,904 114,028 78,096 (6) 37 Insurance service expenses (92,778) (183,479) (54,989) (49) 69 Net reinsurance expenses 5,361 29,184 (7,031) (82) (176) Insurance financial results (14,917) (20,469) (90,277) (27) (83) Insurance business results 4,570 (60,734) (74,201) (108) (106) Interest income 8,898 10,783 18,206 (17) (51) Net results from financial instruments 1,964 2,244 7,979 (12) (75) Gold and foreign currency quotation differences 1,666 (4,122) 8,459 (140) (80) Other operating income 3,890 3,714 6,823 5 (43) Net operating income 20,988 (48,117) (32,734) (144) (164) Personnel expenses (6,684) 18,387 (14,579) (136) (54) Administrative expenses (2,387) 18,086 (10,443) (113) (77) Depreciations and devaluations of assets (32) 4,405 (2,651) (101) (99) Other operating expenses (8) (36) (276) (78) (97) Operating income 11,877 (7,275) (60,683) (263) (120) Results from the net monetary position 1,084 31,843 (9,307) (97) (112) Results from associates and joint businesses — — — — — Income tax (217) (22,232) 32,786 (99) (101) Net income 12,744 2,338 (37,205) 445 (134) Net Income Attributable to Parent Company’s Owners 49 (10) (164) (590) (130) Net Income Attributable to Non-controlling Interests 12,695 2,346 (37,041) 441 (134) Other comprehensive income (17) 22 382 (177) (104) Total comprehensive income 12,727 2,358 (36,823) 440 (135) Total comprehensive income Attributable to Non-controlling Interests 49 (10) (164) (590) (130) Total comprehensive income Attributable to Parent Company’s Owners 12,678 2,369 (36,659) 435 (135) 44 Results for the quarter
Grupo Galicia Galicia SegurosGalicia Naranja X Galicia Más Relevant information ESG Regulatory changesFondos Fima 45 Profitability and efficiency Combined ratio Efficiency ratio ROA ROE 16.90% 2.36% (30.76)% 1Q 2025 4Q 2024 1Q 2024 98.18% 20.78% (313.10)% 1Q 2025 4Q 2024 1Q 2024 95.72% 153.26% 195.01% 1Q 2025 4Q 2024 1Q 2024 90.09% 83.37% 493.02% 1Q 2025 4Q 2024 1Q 2024
Grupo Galicia Galicia SegurosGalicia Naranja X Galicia Más Relevant information ESG Regulatory changesFondos Fima Balance Sheet In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Assets Cash and due from banks 984 5,396 5,264 (82) (81) Debt securities 75,415 89,201 119,213 (15) (37) Other financial assets 88,653 64,568 56,129 37 58 Property, bank premises, equipment 7,141 6,910 6,078 3 17 Intangible assets 19,807 19,615 22,519 1 (12) Assets for insurance and reinsurance contracts 87,862 85,384 61,101 3 44 Other non-financial assets 36,205 66,980 88,159 (46) (59) Total assets 316,067 338,055 358,463 (7) (12) Liabilities Liabilities for insurance and reinsurance contracts 232,215 224,540 238,634 3 (3) Other non-financial liabilities 25,851 69,309 85,476 (63) (70) Total liabilities 258,066 293,850 324,110 (12) (20) Shareholders' equity 58,001 44,205 34,353 31 69 46 Selected financial information
Financial Report Grupo Galicia Fondos FimaGalicia Naranja X Galicia Seguros Galicia Más Relevant information ASG Regulatory changes Since 1958, Fondos Fima has been managing mutual funds distributed by Galicia through its multiple channels and other agents.
Grupo Galicia Fondos FimaGalicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changes Ps.8,533 +65% vs. 1Q 2024 Assets under management In billions 12.7% Market share +140 bp vs. 1Q 2024 26 Employees 48 Assets under management 17 Ps.28,525 million Net income for the quarter +62% vs. 1Q 2024 Highlights
Grupo Galicia Fondos FimaGalicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changes Income Statement In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Net results from financial instruments 3,537 7,149 8,132 (51) (57) Gold and foreign currency quotation differences 30 23 16 30 88 Other operating income 42,810 39,587 28,134 8 52 Net operating income 46,377 46,759 36,282 (1) 28 Personnel and administrative expenses (2,046) (6,164) (2,016) (67) 1 Other operating expenses (2,575) (2,567) (2,007) — 28 Operating income 41,756 38,028 32,259 10 29 Results from the net monetary position (3,337) (3,482) (12,134) (4) (72) Results from associates and joint businesses 550 301 — 83 N/A Income tax (10,444) (13,912) (2,542) (25) 311 Net income 28,525 20,935 17,583 36 62 49 Results for the quarter
Grupo Galicia Fondos FimaGalicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changes Mutual fund In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Fima Acciones 101,401 127,975 62,004 (21) 64 Fima PB Acciones 62,654 71,884 35,650 (13) 76 Fima Renta en Pesos 114,149 130,000 100,112 (12) 14 Fima Ahorro Pesos 399,021 450,833 138,135 (11) 189 Fima Renta Plus 84,833 97,794 88,129 (13) (4) Fima Premium 6,749,579 6,241,955 4,285,503 8 57 Fima Ahorro Plus 361,866 421,021 206,194 (14) 75 Fima Capital Plus 130,561 155,561 193,129 (16) (32) Fima Abierto Pymes 15,883 13,974 13,683 14 16 Fima Mix I 28,379 30,886 32,385 (8) (12) Fima Mix II 8,290 9,707 9,346 (15) (11) Fima Renta Fija Internacional 4,007 4,391 8,046 (9) (50) Fima Sustentable ESG 4,009 3,588 5,096 12 (21) Fima Acciones Latinoamericanas Dólares 474 428 831 11 (43) Fima Renta Fija Dólares 332,247 70,449 5 372 n.m. Fima Mix Dólares 135,249 150,651 5 (10) n.m. Total assets under management 8,532,602 7,981,097 5,178,253 7 65 50 Assets under management
Grupo Galicia Fondos FimaGalicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changes Balance Sheet In millions of pesos, except otherwise noted 2025 2024 2024 Variation (%) 1Q 4Q 1Q vs.4Q24 vs.1Q24 Assets Cash and due from banks 13,795 14,215 8,094 (3) 70 Debt securities 55,685 86 69 n.m. n.m. Net loans and other financing 10 2 — 400 — Other financial assets 44,006 69,831 33,124 (37) 33 Other non-financial assets 46 63 395 (27) (88) Total assets 122,706 92,777 41,685 32 194 Liabilities Other non-financial liabilities 86,668 34,623 16,593 150 422 Total liabilities 86,668 34,623 16,593 150 422 Shareholders' equity 36,038 58,154 25,092 (38) 44 51 Selected financial information
Informe de Resultados Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos FimaGrupo Galicia Galicia Más (formerly HSBC) is one of the country's leading banks. Since December 6, 2024, Galicia Más belongs to the Grupo Galicia.
Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos FimaGrupo Galicia Ps.2,112 million 53 2.5% 42.87% Portfolio Quality 2.53% Coverage 191.97% Capital Ratio 41.81% ROE 94 Branches 2,711 Employees 87% Digital Clients 1,105 Deposit accounts in thousands 1,099 Credit Cards in thousands Market share: Loans to the private sector 2.20% Market share: Deposits to the private sector 2.46% li i Galicia Hechos posteriores A Cambios norm tivoalicia ás Net income for the quarter Solvency Highlights
Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos FimaGrupo Galicia aranja li i Galicia Hechos posteriores A Cambios norm tivoalicia ás Results Net income In millions of pesos, except otherwise noted 2025 1Q Net interest income 181,855 Net fee income 27,725 Net results from financial instruments 42,791 Gold and foreign currency quotation differences 6,615 Other operating income 24,868 Loan-loss provisions (31,237) Net operating income 252,617 Personnel expenses (59,332) Administrative expenses (55,125) Depreciations and devaluations of assets (9,740) Other operating expenses (25,620) Operating income 102,800 Results from the net monetary position (97,869) Income tax (2,819) Net Income 2,112 Other comprenhensive income (22,477) Total comprenhensive income (20,365) 54 As of March 31, 2025, Galicia Más recorded a positive result of Ps.2,112 million.
Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos FimaGrupo Galicia Balance Sheet In millions of pesos, except otherwise noted 2025 1Q Assets Cash and due from banks 1,054,971 Debt securities 233,055 Net loans and other financing 1,777,990 Other financial assets 1,599,435 Property, bank premises, equipment 232,867 Other assets 262,603 Assets available for sale 15,748 Total assets 5,176,669 Liabilities Deposits 2,922,123 Financing from financial entities 33 Other financial liabilities 329,627 Subordinated negotiable obligations 109,784 Other liabilities 261,740 Total liabilities 3,623,307 Shareholders' equity 1,553,362 Selected financial information 55
Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos FimaGrupo Galicia Relevant information Corporate Reorganization Dividends On May 8, 2025, Grupo Galicia paid cash dividends of Ps.88,000 million, as approved by the Shareholders' Meeting held on April 29, 2025. On May 22, 2025, the Central Bank of the Argentine Republic authorized Banco Galicia to enter into a merger, as the acquiring entity, with Galicia Más (Banco GGAL S.A.). The merger must be completed within 180 days of May 22, 2025. Corporate Reorganization
Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos FimaGrupo Galicia 57 Nera Negotiable Obligations On April 30, 2025, Banco Galicia issued Classes XXIV and XXV of Negotiable Obligations. Class XXIV was issued for a nominal value of Ps.12,195 million at a monthly effective rate of 2.65% and matured on October 30, 2025. Class XXV was issued for a nominal value of Ps.53,702 million with a TAMAR rate +3.50% and matured on April 30, 2026. On May 8, 2025, Banco Galicia issued Class XXVI of Negotiable Obligation. The Class was issued for a nominal value of US$128 million at a fixed rate 0% and matured on November 28, 2025. On April 29, 2025, Naranja X issued Class LXIV of Negotiable Obligation. The issuance was made in three Series for an amount of US$150 million. Series I was issued for US$32.7 million at a fixed rate of 7.90% and maturing in 24 months. Series II was issued for US$45 million at a fixed rate 0% maturing in 6 months. Series III was issued for US$85 million at a TAMAR rate +4.5% and maturing in 12 months. On May 27, 2025, Banco Galicia issued Class XXVII Negotiable Obligation for a nominal value of US$68 million at a nominal annual rate of 4% and maturing on December 30, 2025. On the same date, Banco Galicia issued Class XXVIII Negotiable Bonds for a nominal value of US$71 million at a nominal annual rate of 5.9% and maturing on May 27, 2026. Negotiable Obligation
Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos FimaGrupo Galicia Forbes Sustainability Summit On April 22, 2025, Banco Galicia participated in an event organized by Forbes Argentina. It was a space for reflection where key roles played by organizations in facilitating, inspiring, and opening paths for employees were discussed — transforming personal commitment into collective action Launch Integrated ESG Report 2024 In 2024 we set out to continue promoting the sustainable development of the business. To achieve this, we design environmental, social and government management strategies, achieving extraordinary results that left their mark on the community, the organizations and the planet. Find out everything we did in 2024 in our Integrated Report ESG. ESG 58 National Sustainable Finances Summit From April 1 to 3, 2025, in São Paulo, Brazil, Banco Galicia participated in the Regional Meeting for Latin America and the Caribbean (LAC) on sustainable finance, an initiative of the UNEP-FI . In this exclusive space for banks, we shared knowledge on aligning the financial sector with sustainability goals and continued shaping the sustainable finance agenda in the region
Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos FimaGrupo Galicia 59 Regulatory changes Foreign Exchange Market: Through Communication “A” 8226, the BCRA officially announced a series of changes to the foreign exchange regime aimed at removing restrictions and easing access. Lifting of Restrictions • Purchase of foreign currency • Imports • Profit remittances In addition, through Communication “A” 8230, the BCRA implemented measures to further ease foreign exchange controls for non-resident investors. It authorized non-residents to access the foreign exchange market without prior approval, subject to certain requirements, for: • Repayment of principal on financial debt • Repatriation of direct investments by non-residents in companies that are not controlling shareholders of local financial institutions • Repatriation by non-residents of capital services, income, and proceeds from the sale of portfolio investments Furthermore, the minimum holding period for the repayment of principal on debt securities issued as of November 8, 2024, and paid via foreign transfer was reduced from 365 to 180 days. Minimum Cash Requirement As of January 31, 2025, the BCRA, through Communication “A” 8189, modified the requirements and treatment for term investments in pesos with an early withdrawal option that constitute the assets of Money Market Mutual Funds (FCI Money Market). It established that, until the day prior to the date on which the investor may exercise the early withdrawal option, such investments will be treated as time deposits, and thereafter, they will be treated as demand deposits of Money Market Mutual Funds. Liquidity Coverage Ratio (LCR): Through Communication “A” 8199, The BCRA established that financial institutions in Group A must apply a 10% (ten percent) haircut to national government securities and to the Central Bank’s monetary regulation instruments Export Increase Program – Repeal: Through Decree 269/2025, the Executive Branch repealed the Export Increase Program (Decree 28/2023), which had established that 80% of the proceeds from exports had to be brought into the country through the Free Exchange Market, while the remaining 20% had to be settled by the exporter through the purchase and sale of marketable securities acquired with foreign currency settlement and sold with local currency settlement (known as the “blend dollar” mechanism).
Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos FimaGrupo Galicia Combined ratio: (insurance service expenses + net reinsurance expenses + insurance financial results) / (insurance service income). Cost of risk: loan-loss provisions / average financing. Coverage: (allowance for loan losses + provisions for unused balances of credit-cards and overdrafts and guarantees granted) / non-accrual financing. Digital clients: number of customers with login in digital channels in the last 30 days. Financial margin: (net interest income + net result from financial instruments + foreign currency quotation differences + underwriting income from insurance business + certain items included in other operating income -other financial income- and expenses -contribution to the deposit insurance fund, other financial expenses and turnover tax on financial income-) / average balance of interest- earning assets. Non-accrual portfolio: includes loans classified under the following categories of the Argentine Central Bank classification: With Problems and Medium Risk, High Risk of Insolvency and High Risk and Uncollectible. NPL ratio: non-accrual portfolio / total financing. ROA: net income attributable to the company on average assets. ROE: net income attributable to the company on average shareholders’ equity. N/A: not applicable. n.m.: not meaningful. It implies increases of more than 1000% or less than -1,000%. 60 Glossary and additional information Efficiency ratio: (personnel expenses + administrative expenses + depreciation and devaluations of assets) / (net interest income + net fee income + net result from financial instruments + foreign currency quotation differences + insurance business results + certain items included in other operating income -other financial income, fees from bundles of products, rental of safe deposits boxes and other fee income- and expenses -contribution to the deposit insurance fund, other financial expenses, other fee-related expenses and turnover tax on financial income and fees- + result from the net monetary position).
Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos FimaGrupo Galicia Inflation, exchange rate and interest rates 2025 2024 2024 2024 2024 1Q 4Q 3Q 2Q 1Q Consumer price index (IPC) (1) 8,353.3158 7,694.0075 7122.2421 6351.7145 5357.0929 Consumer price index (IPC) (%) 8.57 8.03 12.13 18.57 51.62 Wholesale price index (IPIM) (%) (2) 4.70 3.46 7.30 9.90 36.97 Acquisition value unit (UVA) (3) 1,396.00 1,300.85 1,180.35 1,042.74 786.10 Exchange rate (Ps./US$) (4) 1,073.88 1,032.50 970.92 911.75 857.42 Badlar (5) (quartely averages) 29.89 36.72 38.36 44.14 101.56 (1) Published by the INDEC (National Institute of Statistics and Censuses of the Argentine Republic) (2) Internal Wholesale Price Index. Source: INDEC (National Institute of Statistics and Censuses of the Argentine Republic). (3) Adquisition Value Unit: BCRA (4) Argentine Central Bank reference exchange rate Communication “A” 3500. On the last business day of each period. (5) Argentine Central Bank reference rate for time deposits greater than one million pesos from private banks. 61
Galicia Naranja X Galicia Seguros Galicia Más Relevant information ESG Regulatory changesFondos FimaGrupo Galicia Contact us www.gfgsa.com +54 11 6329 4881 inversores@gfgsa.com asg@gfgsa.com web Phone e-mail