Grupo Supervielle S A : Company Presentation January 2020

Company

Presentation

1.10.2020

Company

Presentation

1.10.2020

Disclaimer

This presentation contains certain forward- looking statements that reflect the current views and/or expectations of Grupo Supervielle and its management with respect to its performance, business and future events. We

use words such as "believe," "anticipate," "plan,"

"expect," "intend," "target," "estimate," "project," "predict," "forecast," "guideline," "seek," "future," "should" and other similar expressions to identify forward-looking statements, but they are not the only way we identify such statements. Such statements are

subject to a number of risks, uncertainties and

assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this release. Actual results, performance or events may differ materially from those in such statements due to, without

limitation, (i) changes in general economic,

financial, business, political, legal, social or other conditions in Argentina or elsewhere in Latin America or changes in either developed or emerging markets, (ii) changes in regional, national and international business and economic conditions, including inflation, (iii)

changes in interest rates and the cost of

deposits, which may, among other things, affect margins, (iv) unanticipated increases in financing or other costs or the inability to obtain additional debt or equity financing on attractive

terms, which may limit our ability to fund existing operations and to finance new activities, (v) changes in government regulation, including tax and banking regulations, (vi) changes in the policies of Argentine authorities,

1. adverse legal or regulatory disputes or proceedings, (viii) competition in banking and financial services, (ix) changes in the financial condition, creditworthiness or solvency of the customers, debtors or counterparties of Grupo Supervielle, (x) increase in the allowances for loan losses, (xi) technological changes or an inability to implement new technologies,

1. changes in consumer spending and saving habits, (xiii) the ability to implement our business strategy and (xiv) fluctuations in the exchange rate of the Peso. The matters discussed herein may also be affected by risks and uncertainties described from time to time in Grupo Supervielle's filings with the U.S. Securities and Exchange Commission (SEC) and Comision Nacional de Valores (CNV). Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as the date of this document. Grupo Supervielle is under no obligation and expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SUPV Presentation

Contents

Annex I, 3Q19 Performance

Annex II, Support Material

SUPV

Presentation

INVESTMENT THESIS

Why SUPERVIELLE, High growth potential financial services franchise once the economy rebounds

TRACK RECORD					Loan Market Share [%]
			Financial System - Excluding Public Banks	Sept
for Growth:	7.0		Track record of strong organic growth
	6.0		combined with strategic acquisitions		May	12
• Expanded loans	5.0									19
-in US$- by 35	4.0										SUPV
times between										Follow	8th
3.0										On
2002 and March											PRIVATE
2.0											B A N K
2018 through	0.2%									in Loans
	Excluding Securitized Portfolio
M&A and	1.0				5%
0.0
organic growth
2001	2003	2005	2007	2009	2011	2013	2015	2016	2017	2018

Strong PRESENCE in

ARGENTINA'S major REGIONS

and most POPULATED cities,

with 324 access points and 1.8

MILLION active customers

STRONG

OPERATING in a Healthy and UNDERPENETRATED

financial system

• With ample room for growth when the economy rebounds
• Loans / GDP at 10%

LEAN and FLEXIBLE	Implementing
Organization	CULTURAL & DIGITAL
	transformation strategy
	• To support sustainable
	long term growth

Branding

• A household

name and the

oldest private

franchise in

the country

5

BUSINESS STRATEGY

Evolving our Business Model and Transforming SUPERVIELLE for success in a digital world

High-Growth Post IPO

May 2016 - March 2018

• Delivering Capital deployment
• Fastest growing financial group across all key business lines
• Driving operating leverage and profitability
• Healthy balance sheet and solid capitalization

				35X			90%
Loans							3,300
	1,738
[US$ Mill.]	93			Pre
					IPO
			2001			March 16	March 18
Distribution							5%
	325				340
Network

23 Pre

IPO

2001	March 16 March 18

1

Adverse Macro Slowing Demand

April 2018 - 2019

• Key customer segments significantly impacted by macro slowdown
• Loan growth practically stagnant
• Consumer finance Segment:
• • Tightened underwriting policies since 1Q18
  • Organizational changes to align it to the new macro environment
  • Focus on digital and change in vision:
    "Becoming a multisegment universal company, offering financial and non financial products"
• Banking Business:
• • Focus on CX Experience and Centricity, productivity improvements, driving synergies and striving to operate as a leaner organization
  • Agile methodology:
    Operating through
    24 agile teams2

Digital Transformation

2019 - 2023

• Our Goal: to become an integrated, efficient and digitized customer centric financial group recognized for being Agile, Simple and Cordial. Leveraging on our
  People
• Our Purpose: Enhancing Customers
  Dreams
• Maximizing Growth and Profitability
• Cultural Transformation - transforming the ways of working. Commitment across the organization - Agile methodology
• CX / Centricity
• Digitizing the Group. Develop Digital Attackers
• Build the Supervielle Ecosystem

3

6

OUR DIGITAL TRANSFORMATION JOURNEY

Evolving our Business Model and Transforming SUPERVIELLE for success in a digital world

Banking Business

Consumer Finance

FOCUS ON

Transform the Core to drive CX

• CX /

Centricity

• Agile

• Efficiency

Online

Banking

Mobile	Biometrics
Banking	recognition

New Brands	Innovation
	1)	Chat Bot
NEW	MiCa	20K conversations
DIGITAL	per month
BRAND	1)	Digital Onboarding
		20% increase in
		offerings
Walmart App		CRM
53K active
customers

PROFITABILITY

• GROWTH

Senior
Citizens	"Fe de Vida"
App.

4 public APIs to	Marketing
sell products	campaigns
Digital Channels	Intelligence

Develop

Digital

Attackers

• IOL

• New Digital

Brand

• Develop a new value proposition
• • Multisegment
  • Safe, secure and trusted online environment
  • Simpler products with greater transparency

Build an		• Better understanding customer needs
	• More personalized propositions
Ecosystem
	• Deeper customer engagement

7 1) Mica and Odin are internal names of our chat/bot Agent and digital onboarding respectively

CREATING THE SUPERVIELLE ECOSYSTEM

That anticipate and address our customer's diverse needs developing positive emotional engagements

FINANCING

• Canales Supervielle
• Partnerships

E-WALLET		INSURANCE SOLUTIONS
• Access and Financial		• Canales Supervielle
Connectivity		• Partnerships

Customer

ASSET MANAGEMENT		Centricity		LEISURE
& SAVINGS		"EVERY DAY		• Tourism
		BANK"

HOUSING

MEDICAL

• Emergencies

• Ophthalmology

• Dentistry

8

MOBILITY

MACRO TRENDS

Central Bank Securities "Leliqs" Balances and Rates declining in recent months

		Leliqs & Repo [AR$ MM]									Market Interest rate & Inflation
1,500,000																											83.3
1,400,000													1,191,433													78.4
1,300,000																							73.9	70.7
1,200,000																						68.2		62.7
																							60.4
1,100,000																		65.0											68.0
																		59.3								61.9	60.9
																											63.0
1,000,000
																			53.7	50.1	54.7	55.8	57.3	55.8	54.4
900,000																						58.1 58.9	49.4
																		51.7								55.0
																					48.9			48.6		54.5
800,000																				46.0					53.5
																								52.0
																	44.1		51.3	55.0	55.1
																			49.3
700,000																	40.0				53.4	53.0	47.5	51.6			51.0	45.1
													760,185			49.5		38.3						40.5
															33.9							49.6			48.7
600,000																44.6	45.7						44.2
													431,248	27.3			47.6									39.4
500,000															43.3		37.1
					Bank's Repo: AR$280 Bn.					25.4
400,000											40.5
				Mutual Funds's Repo: AR$151 Bn.
300,000																	32.7
200,000																22.6	29.5
100,000																22.6
															22.9	27.3	37.1	50.2	45.7	37.6	43.8	48.5	52.6	50.9	48.6	55.4	60.0	55.1	46.0	42.0
0
S	O	N	D	J	F	M	A	M	J	J	A	S	O	N	D	1Q	2Q	3Q	4Q	Jan	Feb Mar Apr May Jun	July Aug Sep	Oct Nov Dec
	2 0 1 8							2 0 1 9							2 0 1 8						2 0 1 9
		Leliq		Repo		Leliq + Repo									Badlar Avg.	Badlar EoP		TM20 eop		Leliq	YoY Inflation

1) As of December 30, 2019

Source: Argentina Central Bank

Source: Argentina Central Bank. and INDEC

9

MACRO TRENDS [Cont.]

International Reserves and Fx rate stabilized by year end with stringent Exchange Controls in place

FX Rates

95.0	FX Controls	77.951
85.0	September 2, 2019
75.0
65.0
55.0		59.81
45.0
35.0
25.0
15.0

J F M A M J J A S O N D J F M A M J J A S O N D J

			2 0 1 8		2 0 1 9
		FX		Blue Chip Swap Rate

1. As of January 7, 2020 Source: BCRA

BCRA Reserves [BN]

77.5 (44)%, (34)bn

Oct 28, 2019
43.4	44.8

28/9

12/10

29/10

13/11

28/11

13/12

2/1

16/1

30/1

13/2

27/2

15/3

29/3

15/4

2/5

16/5

30/5

13/6

1/7

17/7

31/7

14/8

29/8

12/9

26/9

10/10

25/10

11/11

26/11

10/12

26/12

2 0 1 8

2 0 1 9

Latest data as of December 30, 2019

Source: BCRA

Sovereign Debt Profile [Per Year]

47,393

6,830.0					39,619			33,790
20,884	4,518.8	24,984			21,315.5
16,365.7					21,373.8
	8,330.0
19,679		12,139	8,449.8		16,387	8,315.7		10,654	6,358.6
4,515	3,689.4	1,917	8,071.1	1,762
			4,295.7
2020		2021			2022			2023
Local Currency	Foreign Currency	International Organizations

Foreign Law Local law

10 International Organizations: 2020, 2021, 2022 and 2023 include AR$ 1.6 AR$ 5.3 bn, AR$ 18.6 bn and AR$ 18.8 bn, respectively owed to the IMF.

FINANCIAL SECTOR

Resilient financial system with high liquidity levels. Loan demand remained weak along 2019. Expected to improve as interest rates decline.

Loans to Private Sector [AR$ Bill.]

				5%
				8%								1.6% QoQ
								87.5
											15.1% YoY
							6.6%
83.4
-3.8%		2.1%	81.8	0.4%	82.1
	80.2
2,232	-4.2%2,137	3.6%	2,215	-0.2%	2,211	9.5%	2,421	2.0%	2,470 -0.9%	2,448 0.5%	2,460
3Q18		4Q18		1Q19		2Q19		3Q19		Oct 19	Nov 19	Dec 19

								Loans to Private Sector					SUPV loans (AR$ Bn)
					Loans to Private Sector [Original Currency]
										AR$ Loans [in AR$ Bn.]																	U$S Loans [in US$ Bn.]
										6%																											27%
										4%														11.5% QoQ											16%
1.1%	-1.4%	3.6%	2.8%	62.0						18.3% YoY					-8.4%	-2.5%		-5.7%	-13.7%
													60.3															0.6					-22.8% QoQ
58.4				59.0		58.2																								0.6			0.5	0.5	0.4
																																				-32.7% YoY
-1.5%-1.7%	0.8%	7.1%			6.8%	1.3%	3.1%						-3.5%	2.9%			-0.2%	-15.1%-11.6%-6.6%-6.5%
1,581			1,557		1,530		1,542				1,651	1,763		1,787	1,841		15.9				15.3			15.8	15.8	13.4	11.8	11.0	10.3
	3Q18	4Q18	1Q19	2Q19				3Q19		Oct 19	Nov 19		Dec 19		3Q18			4Q18	1Q19		2Q19 3Q19	Oct 19	Nov 19		Dec 19
				AR$ Loans			Supv AR$ Loans																	U$S Loans			Supv U$S Loans

11 Source: BCRA …% QoQ or MoM variation

FINANCIAL SECTOR [Cont.]

Resilient financial system with high liquidity levels to absorb drop in deposits, even after US$ deposit outflows in 3rd and 4th quarter 2019. US$ deposits stabilized by year end.

Private Sector Deposits [AR$ Bill.]

								5%
								30%												6.9% QoQ
										2.7%		112.6
								109.7			-9.4%	102.1						25.3% YoY
					15.6%
	97.2		-2.3%	94.9
	2,827		11.1%	3,139	11.4%	3,498		6.6%		3,728	-1.2%	3,682	-3.6%	3,548	3.1%	3,657	7.6%	3,936
	3Q18				4Q18			1Q19				2Q19		3Q19		Oct 19		Nov 19		Dec 19
	Total Deposits	SUPV deposits (AR$ Bn)
	Private Sector Deposits [Original Currency]
				AR$ Deposits [in AR$ Bn.]								U$S Deposits [in US$ Bn.]
				16%											-32%
				42%												21%
	-2.6%	17.1%	3.1%	-1.8%					13.1% QoQ	7.9%	-2.7%	15.5%	-42.4%
					35.6% YoY
				74.5	76.8		75.5					0.6	0.6	0.6	0.7				-9.1% QoQ
65.3	63.6
																0.4			-33.0% YoY
																3.8%
18.7%	7.9%	9.5%	1.6%	-1.8%	6.1%	8.6%		7.2%	2.9%	-31.0%	-10.6%	-3.5%	5.4%
1,722	2,044	2,205	2,414	2,451	2,407	2,553	2,772		27.0	29.0	29.8	31.0	21.4	19.1	18.4	19.4
3Q18	4Q18			1Q19	2Q19		3Q19	Oct 19	Nov 19	?dec 19		3Q18	4Q18	1Q19	2Q19 3Q19 Oct 19 Nov 19	Dec 19
			AR$ Deposits			Supv AR$ Deposits				U$S Deposits		Supv U$S Deposits

12 Source: BCRA …% QoQ or MoM variation

Annex I

3 Q 1 9

Performance

• Expenses

E X P E N S E S

THIRD QUARTER 2019 RESULTS HIGHLIGHTS

Results impacted by Argentine short-term notes reprofiling; franchise structurally performing well in complex macro environment.

M A R G I N

• Net Financial Income -20% QoQ

• Net Interest Margin

-470bps

To 17.4% impacted by AR$2.0 Bn

loss on mark to market holdings of Argentine government AR$ and U$S short-term notes (3% of total assets), following debt reprofiling

• Loans to individuals continued repricing.

1

A S S E T Q U A L I T Y

• Loan Loss Provisions 79% QoQ

to AR$2.0 Bn

66% YoY

1. Certain commercial loans in the Public Works and Retailer sectors became delinquent.
2. Not 100% provisioned given collaterals involved, although provisioning exceeded Central Bank requirements.

• Coverage ratio was 86.1%.
• Collateralization of non-performingcommercial loans 55% vs

20% as Jun'19.	2

P R O F I T A B I L I T Y

• Reported Pre-Tax Loss

AR$ -116.5 Mill. in 3Q19

Excluding impact from debt reprofiling

• Pre-TaxIncome would have been

AR$ 1.9 Bill.

88% YoY and 23% QoQ

• Attributable Net income of AR$ 301.0 Million.

3

-2.3% sequentially

• QoQ efficiency ratio:
  70.4% in 3Q19, vs. 62.4% in 2Q1 and 59.3% in 3Q18.
• Excluding impact from debt reprofiling
• 3Q19 efficiency ratio: Would have been 53%.

4

L I Q U I D I T YA S S E T SC A P I T A L

• Liquid US$ Assets to US$ deposits ratio: 57.5%, flat from June 30, 2019 despite 45% decline in US$ Deposits
• Loan to Deposit ratio: 82.2% in AR$ and 95.9% in US$, for a blended ratio of 85.8%.

• Total Assets-3.8% QoQ

To AR$ 159.8 Bn reflecting reduction in U$S deposits at the Central Bank following U$S deposit outflows, along with lower holdings of Central

Bank securities.

• Common Equity Tier 1 Ratio (Consolidated Proforma) of 11.8% in 3Q19, 10 bps below 2Q19.

5

6

7

14

SUPERVIELLE ASSETS PERFORMANCE

Total assets decreased 4% QoQ as the bank applied liquidity in US$ held in the Central Bank following U$S deposit outflows, along with lower holdings of Central Bank securities.

Assets Evolution [AR$ Mill.]1)

9.4%

-3.4%	16.1%	1.4%		-3.8%
146,123				141,115			163,849			166,145	159,816
					46,127			45,006	42,690
45,259				42,542
100,864				98,574			117,722			121,139	117,126
			3Q18	4Q18	1Q19	2Q19			3Q19
			AR$ Assets		Fx Assets

Total Assets Breakdown [%]

146,123		141,115	163,849		166,145		159,816
				1,771		1,752		2,300
					5,750
				6,336	0	0
				5,356
1,410
	1,777
	7,121	860	32,206		39,237		29,853
	8,013
11,463	0
	11,305
8,069		10,658
	6,161		10,806		15,925
33,822		33,688	31,052		26,482		18,857

Minimum Cash Reserve Requirements

On AR$ Deposits [AR$ Mill.]1)

							83,378	80,172	81,827	82,118	87,525
	3Q18	4Q18	1Q19	2Q19	3Q19
Cash
12,786.4	15,330.3	14,400.8	11,729.8	10,533.8
Botes
2,152.6	3,032.5	3,092.8	2,923.3	3.089.2
			3Q18		4Q18		1Q19				2Q19		3Q19
Leliq
4,082.8	7,728.3	7,111.2	6,238.0	8,539.3
					Loans						Cash & due from Banks
Total Reserves	19,021.8	26,091.1	24,604.7	20,891.1	22,162.2						Other & Intangible				Leliq
					Lebac						Government Securities
requirement

1. Min. cash reserve requirements on U$S deposits was US$ 149.8 million as of September 30, 2019, and U$S361.9 mm as of June 30, 2019. The basis on which the
   15 minimum cash reserve requirement is computed is the monthly average of the daily balances of the liabilities at the end of each day during each calendar month.

SUPERVIELLE LOAN PERFORMANCE

Total loans up 7% QoQ, driven by increases of 17% in US$ loans reflecting FX devaluation and of 3% in AR$ loans. In original currency, US$ loans declined 14% QoQ.

					Loans [AR$ Mill]1)						Total Loans Breakdown [AR$ Mill]1)	3Q19 Breakdown [AR$ Mill]1)
								5.0%									Loans & Leasing, plus Securitized Portfolio		SME's & Middle
-3.8%		2.1%	0.4%	6.6%																				Market
83,378	80,172	81,827	82,118	87,525		Pre-IPO	10			10		9	8	7
	12										59.0
24,964	21,131		23,618	21,803	25,501
						36										41
										40		41	42
																53						Corporate
										60,315	62,023																		Portfolio
58,414	59,041	58,209		35	54			50		50	50	52			41.0 breakdown2)
																														Large
	3Q18	4Q18		1Q19		2Q19		3Q19	1Q16	3Q18		4Q18		1Q19	2Q19	3Q19
			AR$ Loans		Fx Loans										Corporate			Retail			Consumer Finance

610 559 545 514 443

U$S LOANS

• Consumer Finance portfolio decreased 3.5% QoQ reducing to 7% its weight of total portfolio from 8% in 2Q19 and 10% in 3Q18
• Increase in AR$ loans, following the new AR$ loans granted to customers who paid down their U$S loans

	Mortgages	Senior
Entrepreneurs		12.9	Citizens
& Small
Businesses	8.7	39.9
	Retail
		Portfolio
		breakdown
Payroll &	38.4
Open Market

Customers

1. Denotes loans and leases before allowances
2. 2018, "small businesses" annual sales up to Ps.70.0 million, "SMEs" annual sales over Ps.70.0 million and below Ps.550.0 million, "middle-market companies" annual sales over Ps.550.0 million

and below Ps.2.0 billion and "large corporates" annual sales over Ps.2.0 billion. 2019, "small businesses" annual sales up to Ps.100 million, "SMEs" annual sales over Ps.100 million and below Ps.

16 700 million, "middle-market companies" annual sales over Ps. 700 million and below Ps. 2.5 billion and "large corporates" annual sales over Ps. 2.5 billion.

FUNDING & DEPOSIT BASE

Stable AR$ deposit base, while US$ deposits declined 45% sequentially. Maintains significant liquidity levels.

										Funding [AR$ Mill.]																Deposits & Liquidity [Mill, %]
																																			AR$ Mill
														8.5%																						15.6%
																										-2.6%	17.1%				3.1%	-1.8%
						-3.7%			15.6%	0.8%		-3.2%																					55.5%
														156,058			157,356
																152,296		65,291		63,614		74,507	76,832	75,464
	140,307	135,054				17,771			19,378
									20,110
	16,220
															Sep 18	Dec 18	Mar 19		Jun 19		Sep 19
	17,156				28,610			25,340
														30,126							Ar$ Deposits (in AR$ Mill)		AR$ Liquid Assets / AR$ Deposits
	26,902	22,993
																					89.9%		92.9%		78.3%		78.5%	82.2%
														109,677			112,638																	AR$ Loans to AR$ deposits
	97,186	94,906						102,060											US$ Mill
																																				-40.7%
																										6.1%	-2.0%				4.0%	-45.2%
																																									57.5%
				Sep 18			Dec 18				Mar 19	Jun 19				Sep 19	780		828		811				462
				Shareholders equity		Other Fis & Subordinated Negotiable Obligations1)			Deposits														843
	57.1%	56.8%				49.9%			49.4%				54.8%
													Sep 18	Dec 18	Mar 19		Jun 19		Sep 19
											Loans to assets																U$S Deposits (in U$S Mill)			U$S Liquid Assets / U$S Deposits
	32.8%	33.0%				32.1%			31.8%				26.1%		78.1%		67.5%		66.8%		60.9%	95.9%
									Fx Deposits to total deposits																	US$ Loans to US$ deposits

17 1) Includes: Repo Transactions, Financing received from Central Bank and others, Medium Term Notes and Subordinated Loan and Negotiable Obligations

SUPERVIELLE DEPOSITS

AR$ retail and corporate deposits increased while short-term wholesale deposits decreased reflecting migration of local asset managers to operate directly with the Central Bank.

DEPOSITS Breakdown [%]

AR$ Deposits

Non interest Bearing	Non interest Bearing
Checking Accounts	Checking Accounts
		12.3	Time				Time
		Deposits		17.8		Deposits
Special	22.1		40.5		AVG	37.9
Checking	EOP
Special
Accounts			Checking	19.6 BALANCE
			Accounts
		25.2			24.8
	Savings Accounts		Savings Accounts
			EOP By Customer
	Senior Citizen	Wholesale/	Senior Citizen
	-12 QoQ		-22 QoQ
			Institutional		10.4		Retail
	18.8	-11 QoQ			-47 QoQ
			31.9			38.4
				24.7
Retail		[AR$]	Corporate	[US$]
5 QoQ	23.1		-22 QoQ
		26.3	Corporate		26.5
					-53 QoQ
			32 QoQ
			Wholesale/ Institutional
18

Checking Accounts

Savings Accounts

Time Deposits

Special

Checking

Accounts

66.9%

37.1%

6,680 6,687 7,071 8,134 11,151

Sep 18 Dec 18 Mar 19 Jun 19 Sep 19

			20.6%	-15.8%
12,532	14,041	13,758	17,955	15,111
Sep 18	Dec 18	Mar 19	Jun 19	Sep 19
			92.3%	14.0%
15,283	20,891	23,664	25,794	29,395
Sep 18	Dec 18	Mar 19	Jun 19	Sep 19
			-53.6%	-18.3%
23,206	14,639	20,359	13,173	10,760
Sep 18	Dec 18	Mar 19	Jun 19	Sep 19

NET FINANCIAL INCOME (NFI) & NIM

NFI & NIM down 20% and 470bps QoQ, respectively reflecting AR$2.0 BN loss from Argentine government debt reprofiling (3% of total assets). Loans to individuals continued repricing.

							Net Financial Income [AR$ Mill.]							NIM [%]
								20.3%						49.0%					3Q18	4Q18	1Q19	2Q19	3Q19
																Total
									19.5%						18.2	20.3		19.1	22.1	17.4
													17,316.5			AR$
																	21.7	23.9		22.5	26.2	27.9
															13,203.8
																			U$S	7.3	9.1		6.9	8.4	-17.2
													11,624.8					Loan Portfolio
																	16.6	17.8		18.2	18.5	18.6
													3,185.6
									6,560.3									AR$	21.3	22.5		23.2	23.8	24.2
							5,258.1	5,477.7	5,278.5
4,386.2							US$
								3.9	4.9		4.7	5.3	5.4
1,663.4	3,235.0	4,259.4	5,189.6	3,754.8							Investment
						20.7	23.4		20.1	29.3	18.1
2,722.9	2,023.2						8,439.2	4,112.7			portfolio
1,218.3	1,370.7	1,523.8
		AR$
		22.5	28.2		23.3	32.2	26.0
			3Q18	4Q18	1Q19	2Q19	3Q19	9M18	9M19
			NII		NIFFI & Exchange Rate Differences									US$
												8.0	(2.2)		(4.2)	8.7	-57.0

• AR$ and US$ yield on investment portfolio partially impacted by the mark to market accounting of short-term Argentine government AR$ and U$S short-term notes (3% of total assets), following debt reprofiling.
• Excluding the debt reprofiling impact, Net Financial Income would have been $7.3 billion, increasing 12% QoQ and NIM would have been 24.1%.
• Interest on loans continued to benefit from additional repricing in personal loans.

19 1) NII: Net Interest Income, NIFFI: Net income from financial instruments at fair value through profit or loss.

SERVICE FEE INCOME & INCOME FROM INSURANCE ACTIVITIES

Net service fee income up 9% QoQ after repricing on bundled services, non-credit related insurance and higher credit card transactions, while income from insurance rose 19% QoQ.

	Net Service Fee Income [AR$ Mill.]		Income From Insurance Activities [AR$ Mill.]
		31.3%			30.9%			41.0%			42.4%
			8.6%						18.9%
					2,916.4	3,818.0							679.3
											477.1
1,026.9	1,065.1	1,227.8	1,241.7	1,348.5			183.1	180.4	204.0	217.2	258.1
3Q18	4Q18	1Q19	2Q19	3Q19	9M18	9M19	3Q18	4Q18	1Q19	2Q19	3Q19	9M18	9M19

Net Service Fee Income Ratio [%]1)

21.4

19.2

20.7

18.2

23.3

22.6

20.6

3Q18

4Q18

1Q19

2Q19

3Q19

9M18

9M19

Net Service Fee Income up 8.6% QoQ reflecting:

• 13.4% increase in fee income from full impact of the repricing on bundled financial services in the quarter, credit cards commissions, non- financial services and non-credit related insurance.
• Partially offset by a 26.8% increase in debit and credit card commissions paid.
• Income from insurance activities up 18.9%. QoQ Gross written premiums increased 24% while claims paid reflect technical adjustments on the company's seasonal accident rates curve (IBNR).

1) Excludes income from insurance activities

Note: Net services fee income + Income from insurance activities divided by the sum of Net interest income + Net income from financial instruments at fair value through profit or loss + Exchange rate

20 differences on gold and foreign currency, net services fee income, income from insurance activities and other net operating income.

ASSET QUALITY

NPL ratio up to 6.9% with CoR at 9.6% reflecting certain commercial loans that became delinquent in 3Q19. Collateralization levels of non-performing commercial loans more than doubled.

Loan Loss Provisions Evolution

Retail NPLS vs +90 days Delinquency

Coverage ratio [%]

Credit Card	4.0	3.8

4.6

4.5

4.5

94.0 100.0 100.0

		9.9
5.9	7.0
1,123	1,383	1,893

107.7 86.1

	9.6	8.5
6.0	5.4
1,211	2,007
2,838	5,111

Loans NPL	2.6
Credit Card Loans	2.2
Delinquency +90

Personal	3.6	3.5
Loans NPL
Personal Loans	2.1	1.9

2.9	3.2	3.2
4.0	3.7	4.1
2.2	2.5	2.6

	3Q18	4Q18	1Q19	2Q19	3Q19	9M18	9M19
		Loan Loss Provisions (in AR$ million)			Cost of risk [%]
				NPLs Ratio
					SEP-18DEC-18MAR-19	JUN-19	SEPT-19

Delinquency +90

Retail	3.2	3.3
Segment NPL
Retail Segment	2.1	2.0
Delinquency

3.8	3.9	4.0
2.3	2.6	2.6

Corporate	0.8%	1.1%	3.0%	3.0%	7.2%
Retail	3.2%	3.3%	3.8%	3.9%	4.0%
Personal Loans	3.6%	3.5%	4.1%	3.7%	4.1%
Credit Cards	4.0%	3.8%	4.6%	4.5%	4.5%
Mortgages	0.0%	0.2%	0.2%	0.4%	0.8%
Consumer Finance	18.5%	19.4%	21.0%	21.4%	20.3%
Personal Loans	24.6%	26.0%	27,9%	28.7%	27.1%
Credit Cards	11.6%	13.2%	15,4%	16.9%	15.2%
Car Loans	0.2%	2.5%	6,2%	10.8%	13.4%
Residual Car Loans Mila Portfolio	16.1%	22.3%	27.4%	28.3%	39.6%
TOTAL	3.7%	4.1%	5.3%	5.1%	6.9%

21

Sep 18

Dec 18

Mar 19

Jun 19

Sep 19

• NPLs up 180 bps QoQ to 6.9% in 3Q19 reflecting certain commercial loans in the Public Works and Retail sectors.
• These delinquent commercial loans were not 100% provisioned given collaterals involved (provisioning exceeded Central Bank requirements), resulting in coverage ratio of 86.1%.
• Collateralized non-performing commercial loans increased to 55% of total, from 20% as of September 2019.
• Consumer finance loans posted lower NPL creation reflecting prudent approach to asset quality.

ASSET QUALITY CONSUMER FINANCE

NPL creation down 57% QoQ and 66% YoY, reflecting earlier credit scoring tightening.

Consumer Finance - NPL Creation [AR$ Mill.]

			605		538
					479
		423		403
379	328				324
								138
3Q	4Q	1Q	2Q	3Q	4Q	1Q	2Q	3Q
2 0 1 7			2 0 1 8				2 0 1 9

22

ADMINISTRATIVE EXPENSES & EFFICIENCY RATIO

Efficiency ratio of 70.4% reflects weaker revenues due to impact from the debt reprofiling. Excluding reprofiling, efficiency ratio would have improved to 53%.

Personnel and Administrative

Expenses, D&A & Efficiency Ratio [AR$ Mill.]

											43.5%													48.5%
																												12,491.5
14,000.00																			70.4%					63.8%
				59.3%				61.9%					62.4%				61.4%	232.6
												59.0%
12,000.00										53.0%
																		8,893.0
10,000.00																						4,373.0
																					640.4
																	4,604.6
8,000.00									3,713.2			3,798.1	4,496.6
				3,133.1										3,281.4
6,000.00
													208.8	231.2
								122.0			200.4
							87.8										7,886.0
4,000.00										1,519.4
							1,317.8			1,280.5	1,573.1	4,971.2
2,000.00					1,179.6
							2,273.4			2,317.2	2,876.5	2,692.3
				1,865.7
-
							3Q18		4Q18	1Q19				2Q19			3Q19				9M18			9M19
		Personnel Expenses			Administrative		D&A				Efficiency Ratio [%]*	Efficiency [excl Debt Reprofiling]
5,281	5,307	5,264		5,196	5,225	5,281	5,225
																E M P L O Y E E S

• Expenses declined 2.3% QoQ, mainly due to lower personnel expenses which fell 6.4% in the period reflecting AR$ 273 million in non-recurring severance charges in 2Q19, while administrative expenses were up 3.5% in the period.
• On a comparable basis, personnel expenses would have increased 3.6% in 3Q19 reflecting the salary increases applied in the quarter with total expenses up 3.8 %.

1. Efficiency: Personnel, Administrative expenses and Depreciation & Amortization divided by the sum of Net interest income + Net income from financial instruments at fair value through profit or
   23 loss + Exchange rate differences on gold and foreign currency, net services fee income, income from insurance activities and other net operating income.

PROFITABILITY

Pre-tax results impacted by debt reprofiling and non-performing commercial loans. Excluding debt reprofiling, pre-tax profit would have risen 88% YoY and 23% QoQ.

Profit Before Income Tax [AR$ Mill.]

4.2 Bn

1.9 Bn

2,504.0

1,566.1

1,027.6

903.8

748.7

2,198.2

-116.5

3Q18

4Q18

1Q19

2Q19

3Q19

9M18

9M19

Profit Before Income Tax

Debt reprof. Impact

ROE [%]

42.2

34.9

21.1 34.6

22.2	17.1				16.3	20.4
	13.6		6.2
3Q18	4Q18	1Q19	2Q19	3Q19	9M18	9M19

3Q19 ROAE and ROAA excluding impact from Debt Reprofiling

24 Adj ROAE & ROAA including inflation adjustment in income tax provision in each quarter

Attributable Comprehensive Income [AR$ Mill.]

							-16.3%											55.5%
																					465.0
											7.7					233.9
														431.0
7.1		228.7
	26.3			1,901.5	301.0
867.4	706.8			1,860.7	2,791.7
589.1
	3Q18			4Q18		1Q19	2Q19		3Q19		9M18		9M19
				Attributable Net Income			Other Comprehensive Income

ROAA [%]

4.7 4.2

2.4 3.8

2.7					2.3	2.3
	2.0
	1.5
			0.7
3Q18	4Q18	1Q19	2Q19	3Q19	9M18	9M19

CAPITALIZATION

Solid capitalization levels in a particularly challenging quarter with common Equity Tier 1 Ratio (Consolidated Proforma) of 11.8% in 3Q19.

Capital Deployment [Tier I Ratio %]1)

0.8	0.2	(0.40 )	( 0.5 )	( 0.3 )	0.1

11.9

11.8

TIER1 Capital Capital Creation	Dividends	Fx Impact on	RWA	Deferred tax1)	Other	TIER1 Capital
(Consolidated		Credit RWA1)				(Consolidated
pro forma ) as of						pro forma) as of
June-19						Sept-19

THE QOQ PERFORMANCE REFLECTS:

• 8% increase in operational risk
• 15% increase in the amount of deductions to the Tier 1 capital,
• Partially offset by a 40% decrease in market risk

25 1) Deferred tax on loan loss provisions and losses on Consumer Finance

OWNERSHIP GRUPO SUPERVIELLE

Grupo

Supervielle

ownership

Direct

Participation

Direct + Indirect

Participation

								2.9%		95%
						5.0%					2.5%
								97.1%	5.0%	10%
				5.0%	95.0%				87.5% BOLSILLO
												DIGITAL SAU
				95.0%						100.0%
		5.0%
				95.0%	65%						35%	100.0%
								Float		Julio Patricio
		5.0%	95.0%					Supervielle
											Votes: 58.1%		100.0%
		Invertir							Supervielle	Espacio		Supervielle
		Online.com S.A.		Bolsillo	Banco			Supervielle	Tarjeta	Cordial
	Microlending			SOFITAL	Asset		Cordial de	Productores
	and			Digital	Supervielle			Seguros	Automática	Compañía
	S.A.U				S.A.F. e I.I.	Management	Servicios	Asesores de
	InvertirOnline.com		S.A.U.	S.A.		S.A.	S.A.	Financiera
					S.A.		S.A.	Seguros S.A.
		Argentina S.A.
	100%	100%			100%	97.1%		96.8%%	95.0%		95.0%	95.0%	95.0%	87.5%	5.0%
	100%	100%			100%	99.90%		100%	100%		100%	100%	95.00%	99.99%	99.90%

26

Annex II

Support

Material

SUPPORT MATERIAL

The Argentine banking business has the potential for a growth cycle when the economy rebounds.

Under-developedBanking System

4.7%	3.0%	2.8%	1.7%	2.3%	2.2%
										Estimated
93						9.6		December
								2019
		47	47	32	22	15
	Chile	Brazil	Colombia	Peru		Mexico	Argentina
Loans to the Private Sector as a % of GDP (%) as of December 2018 except Brazil (as of Jun-19)
Insurance Premiums Written as of December, 2018.
Source: Each country's financial regulatory agencies
Lower Credit Penetration			…In a less concentrated Banking System…
in all segments [%of GDP]1)

93
26
14	47	47	6			37
		9	14			6			22
		18	4				4			15
53	20	27				27	4	14	6	1
				8
	Chile				Brazil		Colombia	Peru				Mexico			Argentina
			Commercial				Consumer						Mortgages

December 2018 Market Share of the Top 5 Banks of Each Country

	86.7	76.4	70.7	69.2	68.0
			52.3
	Peru		Chile	Mexico	Brazil	Colombia Argentina

28 1) Total gross loans for each loan type (Source: Each country's financial regulatory agencies) as a percentage of the nominal GDP (Source IMF), as of EOP 2018 except Brazil (June, 2019)

SUPPORT MATERIAL

Small industry size and low leverage levels with ample room for growth

ARGENTINA: Third largest economy of Latin America but small industry size

748.3	263.9			60.5	141.1	257.5			80.1
									Small financial
																		industry considering
																		the size of the
16.2%	20.6%															economy
				20.5%	14.9%	26.0%			14.2%
3,365
2,570			915	745	482			458
	Brazil		Mexico	Argentina			Colombia			Chile	Peru
	Total loans of the Financial System as of December, 2018							2018 GDP (PPP US$ Bn)1)
	Source: Each country's financial regulatory agencies						…% 2018 GDP Per Capita (PPP US$)
													Source: IMF

Corporate leverage1)

Debt service ratio

(% of disposable income)

Low leverage both in companies and families

										Lower corporate
3.4									leverage highlights
2.6	2.6	2.5	2.4					significant room for
1.3
									further penetration
										Low household
20.8	17.1	5.9	17.8						leverage provides
7.1		12.0
								capacity to increase
	Brazil	Chile	Peru	Colombia	Mexico	Argentina		interest payments

1. 2015 Net Debt to EBITDA Source: Wall Street Research

29

RANKING

Competition | Financial System in million of Ps as of September 2019

	11th		Argentine Financial			13th		Argentine Financial System
		System in terms of Loans				in terms of Deposits
	Loans			Share				Assets	Share				Deposits	Share
Banco de la Nación Argentina S.A.	430.208,8	16,5%				1.233.517,2	19,6%				1.030.884,3	22,6%
Banco de Galicia y Buenos Aires S.A.	289.632,6	11,1%				602.048,0	9,5%		382.810,1	8,4%
Banco Santander Río S.A.
257.139,1	9,9%				557.030,3	8,8%				429.235,0	9,4%
Banco de la Provincia de Buenos Aires	232.731,8	8,9%				525.930,5	8,3%		429.296,8	9,4%
Banco Macro S.A.	193.089,4	7,4%				403.172,7	6,4%				257.751,2	5,7%
BBVA Banco Francés S.A.	189.663,5	7,3%				402.335,7	6,4%		275.241,4	6,0%
Banco de la Ciudad de Buenos Aires
108.802,8	4,2%				225.288,0	3,6%				171.697,6	3,8%
HSBC Bank Argentina S.A.	104.886,2	4,0%				252.506,7	4,0%		190.672,0	4,2%
ICBC S.A.
94.330,8	3,6%				214.681,1	3,4%				129.609,5	2,8%
Banco Patagonia S.A.	79.300,6	3,0%				178.346,9	2,8%		111.935,6	2,5%
Banco Supervielle S.A.	75.170,7	2,9%				152.403,4	2,4%				103.969,4	2,3%
Banco de la Provincia de Córdoba S.A.	52.000,0	2,0%				137.827,1	2,2%		120.866,4	2,7%
BICE SA
46.988,7	1,8%				84.633,5	1,3%				36.610,8	0,8%
Banco Hipotecario S.A.	39.419,3	1,5%				81.371,1	1,3%		30.907,3	0,7%
Credicoop Cooperativo Limitado
36.974,6	1,4%				211.261,6	3,3%				172.003,7	3,8%
Itau Argentina	36.385,4	1,4%				79.110,8	1,3%		51.404,8	1,1%
Citibank N.A.
33.311,0	1,3%				142.043,0	2,3%				90.374,0	2,0%
Nuevo Santa Fe	33.246,4	1,3%				81.462,8	1,3%		61.769,2	1,4%
Cordial Cía. Financiera	5.768,1	0,2%				8.289,3	0,1%				835,2	0,0%
Others	262.044,6	10,1%				734.472,6	11,6%		476.785,3	10,5%
Total	2.601.094,4					6.307.732,3						4.554.659,6

1. Banco Supervielle on a stand alone basis, not including Cordial Cia Financiera.
2. Includes 58 financial entities with loans below Ps. 25 billion, as of September, 2019. 30 Source: Central Bank of Argentina

KEY MACRO INDICATORS

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Lastest

2019e

information

GDP real growth (%)

Primary fiscal balance (excludes interest) (as a % of GDP

Fiscal balance (as a % of GDP)

Balance of payments (as % of GDP)

Total public debt (as a % of GDP)

Trade balance (in million U.S.$)

Total deposits (as a % of GDP)

Loans to the private sector (as a % of GDP)

Unemployment rate-end year (%)

Inflation in consumer prices - Dec./Dec. - CPI INDEC (%)

Nominal exchange rate (in Ps. Per U.S.$)

8.0	9.0	4.1	(5.9)	10.1	6.0	(1.0)	2.4	(2.5)	2.7	(2.1)	2.7	(2.5)	(2.3)1	(2.6)
	2.7	2.4	0.5	-0.1	-0.6	-1.0	-2.1	-3.1	-3.7	-4.2	-3.8	-2.3	0.12	(0.5)
3.1
1.5	0.9	0.8	-0.9	-1.0	-1.8	-2.4	-2.9	-4.1	-5.1	-5.8	-5.9	-5.0	-2.72
2.8	2.1	1.5	2.2	-0.4	-1.1	-0.4	-2.1	-1.6	-2.7	-2.7	-4.9	-5.3	-2.33
70.6	62.1	53.8	55.4	43.5	38.9	40.4	43.5	44.7	52.6	53.3	56.6	63.9	68.15	NA
12,393	11,273	12,577	16,886	11,382	9,020	12,010	1,523	2,669	(3,420)	2,059	(8,309)	(3,821)	15,1312	NA
23.3	22.4	20.1	15.8	22.4	20.8	22.2	22.5	21.4	22.8	23.9	23.0	27.3	20.46	17.0
10.4	11.9	11.2	8.4	11.8	13.2	14.2	15.0	13.2	13.8	13.2	15.1	14.6	10.66	9.6
8.7	7.5	7.3	8.4	7.3	6.7	6.9	6.4	6.9	5.9	7.6	7.2	9.1	9.76	NA
9.8	8.5	7.2	7.7	10.9	9.5	10.8	10.9	23.9	26.9	41.0	24.8	47.6	52.14	54.3
3.01	3,15	3,45	3.80	3.98	4.30	4.92	6.52	8.55	13.00	15.85	18.77	37.81	59.897	59.89

Source: Indec, Ministry of Finance, Central Bank

1. As of October 19.
2. From January to November 2019
3. From January to September 2019
4. As of November 30, 2019. Last twelve months
5. As of September 2019. Gross debt., includes intragovernmental holdings. Avg Fx rate since Dec 2018
6. As of September, 2019

31 7) As of December 31, 2019

2019 and 2020 estimates: Source market expectations survey as of December 2019

GDP 2020: (1.6)%

Inflation 2020: 42.2%

FX 2020: ARS80.5

INCOME STATEMENT & BALANCE SHEET

Income Statement [AR$ Mill]

	3Q19	2Q19	1Q19	4Q18	3Q18	QoQ	YoY
Net Interest Income	1,523.8	1,370.7	1,218.3	2,023.2	2,722.9	11.2%	-44.0%
NIFFI & Exchange Rate Differences	3,754.4	5,189.6	4,259.4	3,235.0	1,663.4	-27.7%	125.7%
Net Financial Income	5,278.1	6,560.3	5,477.7	5,258.1	4,386.2	-19.5%	20.3%
Net Service Fee Income1)
1,348.5	1,241.7	1,227.8	1,065.1	1,026.9	8.6%	31.3%
Income from Insurance activities	258.1	217.2	204.0	180.4	183.1	18.9%	41.0%
Loan Loss Provisions	-2,007.4	-1,210.8	-1,893.0	-1,382.8	-1,122.5	65.8%	78.8%
Personnel & Administrative Expenses	-4,265.4	-4,395.8	-3,597.7	-3,591.2	-3,045.2	-3.0%	40.1%
Profit before income tax	-116.5	1,566.1	748.7	903.8	1,027.6	-107.4%	-111.3%
Attributable Net income	301.0	1,901.5	589.1	706.8	867.4	-84.2%	-65.3%
Attributable Comprehensive income	732.1	1,909.3	615.4	935.3	874.5	-61.7%	-16.3%

Balance Sheet [AR$ Mill]

	3Q19	2Q19	1Q19	4Q18	3Q18	QoQ	YoY
Total Assets	159,815.8	166,144.7	163,849.3	141,115.5	146,122.7	-3.8%	9.4%
Average Assets	165,375.6	162,952.7	156,054.4	143,525.2	128,633.2	1.5%	28.6%
Total Loans & Leasing	87,524.6	82,117.7	81,827.1	80,171.5	83,378.1	6.6%	5.0%
Total Deposits	102,060.3	112,638.3	109,676.8	94,906.0	97,185.5	-9.4%	5.0%
Attributable Shareholders' Equity	20,109.7	19,377.6	17,771.0	17,155.6	16,220.0	3.8%	24.0%
Average Attributable Shareholders' Equity	19,347.7	18,015.9	17,361.2	16,547.0	15,638.9	7.4%	23.7%

32 1) Excluding income from insurance activities

INTEREST RATES AND SECURITIES

Interest Rates [%]

	3Q19	2Q19	1Q19	4Q18	3Q18	QoQ	YoY
Interest earned on Loans	41.8%	41.0%	39.7%	42.1%	33.8%	80	806
AR$	56.5%	54.6%	52.1%	55.0%	44.2%	197	1,238
U$S	7.2%	7.1%	6.8%	7.2%	6.1%	13	116
Yield on Investment Porfolio	35.8%	56.0%	51.2%	48.2%	57.1%	(2,016)	(2,126)
AR$	58.3%	63.0%	52.2%	60.6%	45.4%	(472)	1,292
U$S	-177.1%	7.1%	43.4%	-17.8%	137.3%	-	-
Cost of Funds	24.3%	22.6%	21.6%	22.8%	17.0%	170	724
AR$	36.2%	34.1%	31.7%	33.8%	24.8%	213	1,144
U$S	1.2%	1.1%	1.3%	1.5%	1.5%	9	(29)

Securities Breakdown [AR$ Bill]

	Sep 19	Jun 19	Mar 19	Dec 18
Held for trading	31,555.0	41,912.5	35,258.0	15,130.2
Government Securities	1,544.7	2,608.1	3,048.7	3,762.4
Securities Issued by the Central Bank	29,853.1	39,237.1	32,205.8	11,305.3
Corporate Securities	157.3	67.3	3.6	62.4
Held to maturity	3,829.9	3,168.8	3,323.4	4,173.4
Government Securities	3,811.6	3,142.0	3,282.9	4,130.7
Corporate Securities	18.3	26.8	40.4	42.7
Available for sale	8.8	9.1	14.5	119.6
Government Securities	-	-	4.4	119.6
Securities Issued by the Central Bank	-	-	-	-
Corporate Securities	8.8	9.1	10.1	10.4
Total	35,393.6	45,090.4	38,595.9	19,423.2

• Amortized cost ("Held to maturity"): Assets measured to collect contractual cash flows. Interest income amortized cost are held within a business model with the objective to hold assets in order e is recognized in net interest margin. Assets in this category include the Company's loan portfolio and certain government (mainly holdings of Bote) and corporate securities.
• Fair value through other comprehensive income ("Available for sale"): Assets measured at fair value through other comprehensive income are held in a business model with the objective of both collecting contractual cash flows and selling financial assets. Interest income is recognized in net interest margin in the income statement, while changes in fair value are recognized in other comprehensive income.
• Fair value through profit or loss ("Held for trading"): Assets measured at fair value through profit or loss are held in a business model with the objective of trading financial assets. Changes in fair value are recognized in the "Net income from financial instruments" line item of the income statement. Assets in this category include most government securities (including Letes and Lecaps that were reprofiled) and securities issued by the Central Bank, other than those classified as amortized cost.

33

INTEREST EARNING ASSETS

Interest Earning Assets [AR$ Mill]

Investment Portfolio

Government and Corporate Securities Securities Issued by the Central Bank Total Investment Portfolio Loans Loans to the Financial Sector Overdrafts

Promissory Notes Mortgage loans Automobile and Other Secured Loans

Retail Banking Personal Loans Consumer Finance Personal Loans Corporate Unsecured Loans Retail Banking Credit Card Loans

Consumer Finance Credit Card Loans Receivables from Financial Leases

Total Loans excl. Foreign trade and U$S Loans1

Foreign Trade Loans & U$S loans Total Loans

Securities Issued by the Central Bank in Repo Transaction

Total Interest-Earning Assets

3Q19		2Q19		1Q19		4Q18		3Q18
Avg.	Avg.	Avg.	Avg.	Avg.	Avg.	Avg.	Avg.	Avg.	Avg.
Balance	Rate	Balance	Rate	Balance	Rate	Balance	Rate	Balance	Rate
8,955.1	-72.0%	10,557.4	18.4%	9,984.9	38.4%	10,113.1	21.6%	6,567.3	65.9%
26,341.9	72.5%	27,268.3	70.5%	28,242.3	55.7%	15,062.3	66.0%	14,183.7	53.0%
35,296.9	35.8%	37,825.8	56.0%	38,227.3	51.2%	25,175.4	48.2%	20,751.0	57.1%
634.6	39.3%	737.2	12.3%	101.0	33.4%	619.8	91.8%	458.7	73.3%
6,343.9	70.8%	5,156.0	67.0%	4,484.2	70.0%	5,677.0	76.2%	4,962.4	59.8%
7,817.3	68.4%	7,426.6	63.0%	6,585.3	59.5%	7,365.6	62.6%	7,760.1	45.6%
6,790.3	38.9%	6,232.1	50.6%	5,597.9	42.1%	4,961.1	65.1%	4,226.7	44.2%
1,488.5	50.4%	1,477.5	42.6%	1,581.7	34.0%	1,637.4	22.7%	1,644.7	28.5%
13,981.1	61.2%	14,282.3	52.5%	13,994.0	50.0%	13,733.9	46.8%	13,472.1	42.8%
3,858.0	65.2%	4,676.0	61.3%	5,148.5	56.8%	5,585.2	55.9%	5,936.5	54.9%
7,771.6	54.7%	7,836.1	57.3%	7,932.8	55.6%	7,463.2	56.4%	6,983.4	37.4%
7,292.1	40.8%	6,661.4	44.3%	6,408.7	41.9%	6,184.0	42.8%	6,019.3	32.3%
2,352.5	31.5%	2,393.9	43.3%	2,498.3	46.9%	2,510.5	44.2%	2,178.3	38.6%
3,571.9	24.7%	3,643.4	26.2%	3,432.3	28.8%	3,481.2	28.5%	3,313.2	24.6%
61,901.8	54.0%	60,522.5	52.5%	57,764.8	50.5%	59,218.9	53.4%	56,955.4	42.9%
21,692.7	7.2%	20,562.8	7.1%	18,848.8	6.7%	19,305.2	7.3%	18,599.7	5.9%
83,594.5	41.8%	81,085.3	41.0%	76,613.5	39.7%	78,524.2	42.1%	75,555.2	33.8%
2,631.6	70.4%	86.7	62.7%	101.8	37.8%	48.4	62.8%	145.8	37.0%
121,523.0	40.7%	118,997.8	45.8%	114,942.6	43.5%	103,748.0	43.6%	96,451.9	38.8%

1. In 3Q19, 2Q19, 1Q19, 4Q18 and 3Q18 include AR$3.3 billion, AR$2.6 billion, AR$ 2.1 billion AR$ 1.9 billion and AR$2.0 billion respectively of US$ loans, mainly credit cards
   34 US$ balances.

INTEREST BEARING LIABILITIES

Interest Bearing Liabilities [AR$ Mill]

Time Deposits AR$ Time Deposits FX Time Deposits

Special Checking Accounts AR$ Special Checking Accounts FX Special Checking Accounts

Borrowings from Other Fin. Inst. & Medium Term Notes

Subordinated Loans and Negotiable Obligations

Total Interest-Bearing Liabilities Low & Non-Interest Bearing Deposits Savings Accounts AR$ Savings Accounts FX Savings Accounts Checking Accounts

AR$ Checking Accounts

FX Checking Accounts

Total Low & Non-Interest Bearing Deposits

Total Interest-Bearing Liabilities & Low

• Non-InterestBearing Deposits AR$
  FX

3Q19		2Q19		1Q19		4Q18		3Q18
Avg.	Avg.	Avg.	Avg.	Avg.	Avg.	Avg.	Avg.	Avg.	Avg.
Balance	Rate	Balance	Rate	Balance	Rate	Balance	Rate	Balance	Rate
40,554.5	46.6%	35,666.3	41.3%	38,735.1	37.9%	26,774.1	37.3%	23,546.8	25.4%
35,905.2	52.4%	30,557.6	48.0%	33,508.8	43.6%	22,043.6	44.9%	19,101.0	31.0%
4,649.2	1.1%	5,108.7	1.1%	5,226.3	1.4%	4,730.6	1.7%	4,445.8	1.7%
21,013.0	23.6%	23,238.4	26.0%	21,606.4	25.0%	27,849.8	32.7%	21,457.3	27.0%
10,881.8	45.4%	13,214.6	45.5%	14,287.4	37.6%	21,567.1	42.1%	16,863.7	34.2%
10,131.2	0.2%	10,023.8	0.3%	7,319.0	0.4%	6,282.6	0.4%	4,593.6	0.5%
17,266.6	36.1%	20,369.4	35.8%	18,680.0	33.1%	19,560.6	34.8%	19,170.1	27.8%
1,840.9	7.3%	1,601.0	6.9%	1,425.0	6.8%	1,355.5	7.0%	1,169.8	7.1%
80,675.0	37.5%	80,875.2	34.8%	80,446.5	32.8%	75,540.1	34.4%	65,344.0	26.3%
26,535.3	1.6%	26,360.2	1.4%	23,193.6	0.3%	21,340.8	0.3%	20,420.1	0.2%
12,654.6	3.3%	12,505.9	2.9%	11,312.4	0.5%	10,564.5	0.5%	10,632.8	0.3%
13,880.7	0.0%	13,854.3	0.0%	11,881.2	0.0%	10,776.3	0.0%	9,787.3	0.0%
19,039.0		19,284.7		18,564.4		17,406.5		15,469.3
11,809.5		10,781.9		10,094.8		9,362.9		8,603.5
7,229.5		8,502.9		8,469.6		8,043.7		6,865.8
45,574.2		45,645.0		41,758.1		38,747.4		35,889.4
126,249.2	24.3%	126,520.2	22.6%	122,204.5	21.6%	114,287.4	22.8%	101,233.4	17.0%
83,133.5	36.2%	82,141.4	34.1%	81,754.1	31.7%	75,417.7	33.8%	67,496.9	24.8%
43,115.7	1.2%	44,378.7	1.1%	40,450.5	1.3%	38,869.7	1.5%	33,736.6	1.5%

35

FX POSITION

Global Net Position[US$ Ths]

	Sep 19	Aug 19	Jul 19	Jun 19	May 19	Apr 19	Mar 19	Dec 18	Sep 18
Assets
Cash and due from banks	248,202	311,291	445,023	450,562	415,146	421,594	393,171	432,668	385,131
Secuities at fair value through profit or loss	17,723	26,722	51,719	36,404	46,206	39,165	64,231	102,321	56,629
Loans	386,488	432,876	477,277	469,108	479,243	494,621	496,663	521,106	571,211
Other Receivables from Financial Intermediation	6,652	4,491	7,620	4,446	33,705	13,494	9,686	3,565	3,659
Other Receivable from Financial Leases	31,726	32,469	33,361	33,946	34,695	35,233	36,127	30,339	31,567
Other Assets	26,534	31,235	47,192	55,744	48,036	82,688	53,264	29,482	46,025
Other non-financial assets	47	155	36	64	10	13	201	37	197
Total assets	717,372	839,239	1,062,228	1,050,274	1,057,040	1,086,807	1,053,344	1,119,518	1,094,419
Liabilities and shareholders' equity
Deposits	461,955	670,422	848,683	842,882	851,405	835,158	815,630	844,996	797,420
Other financial liabilities	222,702	133,546	147,448	146,117	178,898	209,971	203,528	215,011	260,997
Other Liabilities	19,354	21,894	22,436	23,118	23,626	23,726	24,967	13,616	14,058
Subordinated Notes	36,461	36,253	36,815	36,599	36,392	36,644	36,438	36,601	36,439
Total liabilities	740,472	862,115	1,055,382	1,048,716	1,090,321	1,105,499	1,080,562	1,110,223	1,108,914
Net Position on Balance	-23,100	-22,876	6,846	1,558	-33,281	-18,691	-27,218	9,295	-14,495
Net Derivatives Position	1,000	-13,170	3,770	2,822	32,288	49,938	-	-19,239	7,877
Global Net Position	-22,100	-36,046	10,616	4,380	-993	31,247	-27,218	-9,944	-6,618

Financial Income from US$ Operations & Securities [AR$ Mill]

	3Q19	2Q19	1Q19	4Q18	3Q18	QoQ
Net Income from U$S denominated Operations & Securities	144.4	(13.2)	540.3	(204.2)	1,359.2	(11.9)
NIFFI	146.4	(15.2)	451.8	(97.1)	980.2	(10.6)
U$S Government Securities 3	(410.1)	38.0	392.6	(76.5)	579.4	(11.8)
Term Operations	556.5	(53.3)	59.2	(20.5)	400.9	(11.4)
Interest Income	(2.0)	2.0	88.5	(107.1)	379.0	(2.0)
U$S Government Securities2	(2.0)	2.0	88.5	(107.1)	379.0	(2.0)
Exchange rate differences on gold and foreign currency	(604.4)	270.8	(328.3)	534.8	(1,074.1)	(3.2)
Total Income from U$S Operations & Securities1	-460.0	257.6	211.9	330.6	285.2	-

1. Includes gains on trading from retail FX operations
2. Securities held to maturity

36 3 Securities held for trading

RATIOS

Key Performance Indicators [%]

Profitability

ROAE

ROAA Net Interest Margin Net Fee Income Ratio Cost / Assets Efficiency Ratio Liquidity & Capital

AR$ Loans to AR$ Deposits US$ Loans to US$ Deposits Loans to Total Deposits Liquidity Coverage Ratio (LCR)1 Total Equity / Total Assets

Proforma Consolidated Capital / Risk weighted assets2

Tier1 Capital / Risk weighted assets (Proforma Consolidated)3

Risk Weighted Assets / Total Assets

Asset Quality NPL Ratio

Allowances as a % of Total Loans

Coverage Ratio Cost of Risk5

3Q19	2Q19	1Q19	4Q18	3Q18
6.2%	42.2%	13.6%	17.1%	22.2%
0.7%	4.7%	1.5%	2.0%	2.7%
17.4%	22.1%	19.1%	20.3%	18.2%
23.3%	18.2%	20.7%	19.2%	21.4%
10.9%	11.3%	9.7%	10.3%	9.7%
70.4%	62.4%	59.0%	61.9%	59.3%
82.2%	78.5%	78.3%	92.9%	89.6%
95.9%	60.9%	66.8%	67.5%	78.1%
85.8%	72.9%	74.6%	84.5%	85.8%
141.7%	164.5%	143.9%	173.4%	132.1%
12.6%	11.7%	10.8%	12.2%	11.1%
12.8%	12.9%	13.2%	14.0%	13.8%
11.8%	11.9%	12.1%4	12.9%	12.5%
76.7%	68.5%	67.9%	73.0%	70.5%
6.9%	5.1%	5.3%	4.1%	3.7%
6.0%	5.5%	5.3%	4.1%	3.5%
86.1%	107.7%	100.0%	100.0%	94.0%
9.6%	6.0%	9.9%	7.0%	5.9%

1. This ratio includes the liquidity held at the holding company level.
2. Regulatory capital divided by risk weighted assets taking into account operational and market risk. The regulatory capital ratio applies only to the Bank and CCF on a consolidated basis and does not include the liquidity held at the holding company level- The Proforma consolidated capital ratio, includes the liquidity retained at Grupo Supervielle level which as of September 30, 2019, amounted to AR$ 654 million.
3. Tier 1 capital divided by risk weighted assets taking into account operational and market risk. The regulatory Tier 1 capital ratio applies only to the Bank and CCF on a consolidated basis and does not include the liquidity held at the holding company level. The Proforma Consolidated Tier 1 capital ratio includes AR$654 million retained at the holding company.
4. During 2Q19 the Central Bank clarified an interpretation regarding deductions on Tier1 Capital related to deferred tax assets, requesting not to offset deferred tax assets and liabilities even when offsetting is required by IFRS (IAS 12) and Basel framework, hence increasing the deductions on Tier 1 Capital. If the Central Bank criteria would have been adopted in 1Q19, Common Equity Tier 1 Ratio (Consolidated Proforma) would have been 11.8%.
5. Excluding a voluntary AR$462 million LLP in 1Q19, in excess of the 25% regulatory provisioning related to a delinquent commercial loan, Cost of risk would have been 7.5%. Cost of Risk in 4Q18, excluding the AR$ 231 million additional voluntary loan loss provisions made to increase coverage, was 5.9%.

37

SUPERVIELLE LOAN PORTFOLIO

Small Atomized, diversified and collateralized loan book

		Breakdown by Economic Activity [%]			Collaterals of the Corporate Portfolio [%]
									SMES &	LARGE	TOTAL
		Families and individuals			43.0%
							MIDDLE MARKET
		Services	12.2%				Collateralized
					42%	43%		42%
		Civil Construction	6.7%
					Portfolio
		Commerce	5.9%				Unsecured
		Manufactures	5.2%		58%	57%		58%
					Portfolio
		Chemicals & Plastics	5.0%
		Oil, Gas & Mining	3.8%
		Food & Beverage	3.7%					Portfolio Atomization [%]
		Electricity & Water	3.0%
		Fruits & Vegetables	2.0%
								TOP
		Primary Production	1.6%				12.8%
						10
		Wine	1.5%
		Cereals	1.3%				TOP	19.0%
		Sugar	1.2%		20
		Vehicles	0.3%				TOP		28.5%
						50
		Others		3.9%

• LOANS TO PAYROLL AND PENSION CLIENTS REPRESENT 67.2% OF TOTAL RETAIL PORTFOLIO
• COLLATERALIZED NON-PERFORMING COMMERCIAL LOANS WERE 55% OF TOTAL

38

Thank You!

Company

Presentation

01.10.2020