Grupo Supervielle S A : Financial Statement as of June 30, 2023

Consolidated Condensed Interim Financial Statements

For the six-month period ended on

June 30, 2023, presented on comparative basis in homogeneous currency

Contents
CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION	2
CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION	3
CONSOLIDATED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME	4
CONSOLIDATED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME	5
EARNING PER SHARE	5
CONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN SHAREHOLDERS´ EQUITY	7
CONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN SHAREHOLDERS´ EQUITY	8
CONSOLIDATED CONDENSED INTERIM STATEMENT OF CASH FLOWS	9
1.	ACCOUNTING STANDARDS AND BASIS OF PREPARATION	11
2.	CRITICAL ACCOUNTING POLICIES AND ESTIMATES	18
3.	SEGMENT REPORTING	19
4.	FAIR VALUES	22
5.	CASH AND DUE FROM BANKS	25
6.	RELATED PARTY TRANSACTIONS	25

7. COMPOSITION OF THE MAIN ITEMS OF THE CONSOLIDATED STATEMENT OF FINANCIAL

POSITION AND CONSOLIDATED INCOME STATEMENT	26
8.	CONSIDERATIONS OF RESULTS	30
9.	INSURANCE	30
10.	ASSET MANAGEMENT AND OTHER SERVICES	30
11.	ADDITIONAL INFORMATION REQUIRED BY THE BCRA	30
12	FINANCIAL RISK FACTORS	33
13	FOREIGN TRADE FINANCING FACILITATION PROGRAM	¡Error! Marcador no definido.
14	REPURCHASE OF TREASURY SHARES	33
15	PRIOR COMMITMENT TO MERGE IUDÚ COMPAÑÍA FINANCIERA S.A. AND TARJETA
AUTOMÁTICA S.A WITH BANCO SUPERVIELLE S.A	33
16	ECONOMIC CONTEXT IN WHICH THE COMPANY OPERATES	34
17	SUBSEQUENT EVENTS	36
SCHEDULE A - DEBT SECURITIES AT FAIR VALUE THROUGH PROFIT OR LOSS, OTHER DEBT
SECURITIES, EQUITY INSTRUMENTS	37
SCHEDULE B - CLASSIFICATION OF LOANS AND OTHER FINANCING CREDIT ACCORDING TO STATUS
AND COLLATERAL RECEIVED	42
SCHEDULE C - CONCENTRATION OF LOANS AND OTHER FINANCING	44
SCHEDULE D - BREAKDOWN OF TOTAL LOANS AND OTHER FINANCING	45
SCHEDULE F - PROPERTY, PLANT AND EQUIPMENT	46
SCHEDULE G - INTANGIBLE ASSETS	47
SCHEDULE H - CONCENTRATION OF DEPOSITS	48
SCHEDULE I - BREAKDOWN OF FINANCIAL LIABILITIES FROM REMAINING TERMS	49
SCHEDULE L - ASSETS AND LIABILITIES IN FOREIGN CURRENCY	50
SCHEDULE R - LOAN LOSS RISK PROVISIONS	51
SEPARATE CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION	53
SEPARATE CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME	54
EARNING PER SHARE	55
SEPARATE CONDENSED INTERIM STATEMENT OF CHANGES IN SHAREHOLDERS´ EQUITY	57
SEPARATE CONDENSED INTERIM STATEMENT OF CASH FLOW	59
2.	CASH AND DUE FROM BANKS	65
3.	FAIR VALUES	65
4.	INVESTMENT IN SUBSIDIARIES AND ASSOCIATES	67

5. COMPOSITION OF THE MAIN ITEMS OF THE SEPARATE STATEMENT OF COMPREHENSIVE

INCOME	68
6.	RESTRICTED ASSETS	69
7.	COMPANIES UNDER SECT, 33 OF CORPORATE LAW AND OTHER RELATED COMPANIES	69
8.	LOAN AND DEBT ESTIMATED TERMS	73
9.	CAPITAL STOCK	74
10.	FINANCIAL RISK FACTORS	75
11.	SUBSEQUENT EVENTS	75
SCHEDULE A - OTHER DEBT SECURITIES	76
SCHEDULE G - INTANGIBLE ASSETS	77
SCHEDULE L - ASSETS AND LIABILITIES IN FOREIGN CURRENCY	78

Consolidated Condensed Interim Financial Statements

For the six-month period ended on

June 30, 2023, presented on comparative basis in homogeneous currency

Name: Financial year:

Legal Address: Core Business:

1

GRUPO SUPERVIELLE S.A.

Grupo Supervielle S.A.

N° 48 started on January 1, 2023

Bartolomé Mitre 434

Ciudad Autónoma de Buenos Aires

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

Registration Number at the IGP:	212,617
Date of Registration at IGP:	October 15, 1980
Amendment of by-laws (last):	April 24, 2018 (Registration in progress)
Expiration date of the Company's By-Laws:	October 15, 2079
Corporations Article 33 Companies general Law	Note 7 to Separate Financial Statements

Composition of Capital Stock as of June 30, 2023

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

2

GRUPO SUPERVIELLE S.A.

CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION As of June 30, 2023 and December 31, 2022

(Expressed in thousands of pesos in homogeneous currency)

ASSETS	Notes and	06/30/2023	12/31/2022
Schedules
Cash and due from banks	4 and 5	61,926,617	72,928,960
Cash		34,537,150	28,813,503
Financial institutions and correspondents		27,243,449	44,072,350
Argentine Central Bank		23,455,723	40,961,828
Other local and financial institutions		3,787,726	3,110,522
Others		146,018	43,107
Debt Securities at fair value through profit or loss	4, 5, 7.1 and
A	27,731,833	26,637,409
Derivatives	7.2 and 4	1,281,197	445,346
Reverse Repo transactions	4 and 7.3	162,345,318	32,519,197
Other financial assets	4, 5 and 7.4	12,647,767	12,215,916
Loans and other financing	4,7.5 and B	289,903,811	352,182,042
To the non-financial public sector		477,040	418,445
To the financial sector		1,444,798	971,191
To the Non-Financial Private Sector and Foreign residents		287,981,973	350,792,406
Other debt securities	4, 7.6 and A	344,958,331	417,659,849
Financial assets pledged as collateral	4 and 7.7	23,862,226	21,801,576
Deferred income tax assets		1,695,390	1,470,760
Investments in equity instruments	4 and A	448,930	757,264
Property, plant and equipment	F	26,257,941	27,685,872
Investment property	F	25,470,250	25,469,743
Intangible assets	G	33,360,486	33,565,549
Deferred income tax assets		14,311,841	17,918,032
Other non-financial assets	7.8	7,098,352	7,547,385
Inventories	7.9	-	101,092
TOTAL ASSETS		1,033,300,290	1,050,905,992

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

3

GRUPO SUPERVIELLE S.A.

CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION As of June 30, 2023 and December 31, 2022

(Expressed in thousands of pesos in homogeneous currency)

	Notes and	06/30/2022	12/31/2022
	Schedules
LIABILITIES
Deposits	4, 7.10 and H	805,929,887	825,005,782
Non-financial public sector		93,281,909	41,954,377
Financial sector		33,822	152,836
Non-financial private sector and foreign residents		712,614,156	782,898,569
Liabilities at fair value through profit or loss	4 and 7.11	675,273	3,223,330
Repo Transactions	4	877,618	-
Other financial liabilities	4 and 7.12	26,578,863	27,281,581
Financing received from the Argentine Central Bank and	4 and 7.13
other financial institutions	8,324,827	8,332,189
Unsubordinated debt securities	4	-	845,939
Provisions	7.14	2,168,429	2,549,010
Deferred income tax liabilities		192,113	274,297
Other non-financial liabilities	7.15	41,993,309	43,389,273
TOTAL LIABILITIES		886,740,319	910,901,401
SHAREHOLDERS' EQUITY
Capital stock		442,672	444,411
Paid in capital		123,163,986	127,853,029
Capital Adjustments		13,301,014	13,476,572
Own shares in portfolio		14,050	12,311
Comprehensive adjustment of shares in portfolio		1,417,725	1,242,167
Cost of treasury stock		(2,499,882)	(2,084,329)
Reserve		2,084,329	9,342,869
Retained earnings		-	(5,340,592)
Other comprehensive income		1,570,846	1,558,444
Net income for the period / year		6,949,545	(6,611,256)
Shareholders' Equity attributable to owners of the parent
company		146,444,285	139,893,626
Shareholders' Equity attributable to non-controlling interests		115,686	110,965
TOTAL SHAREHOLDERS' EQUITY		146,559,971	140,004,591
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY		1,033,300,290	1,050,905,992

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

4

GRUPO SUPERVIELLE S.A.

CONSOLIDATED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME

For the six and three-month period on June 30, 2023, presented on comparative basis (Expressed in thousands of pesos in homogeneous currency)

		Six-month period ending on	Three-month period ending
	Note	on
		06/30/2023	06/30/2022	06/30/2023	06/30/2022
Interest income	7.16	245,769,889	165,896,001	134,961,610	88,912,589
Interest expenses	7.17	(176,454,441)	(102,213,851)	(95,921,832)	(56,105,668)
Net interest income		69,315,448	63,682,150	39,039,778	32,806,921
Service fee income	7.19	22,029,738	23,844,558	10,976,887	11,633,196
Service fee expenses	7.20	(6,291,288)	(8,546,206)	(2,917,988)	(4,161,774)
Income from insurance activities	9	3,560,155	3,551,920	1,530,172	1,772,472
Net Service Fee Income		19,298,605	18,850,272	9,589,071	9,243,894
Subtotal		88,614,053	82,532,422	48,628,849	42,050,815
Net income from financial instruments (NIFFI) at fair	7.18
value through profit or loss	17,873,619	14,509,801	8,536,281	6,175,728
Result from assets withdrawals rated at amortized cost		174,088	832,828	186,919	523,834
Exchange rate difference on gold and foreign currency		1,321,668	2,240,496	683,124	1,052,104
Subtotal		19,369,375	17,583,125	9,406,324	7,751,666
Other operating income	7.21	5,616,709	6,698,476	3,006,566	3,042,699
Result from exposure to changes in the purchasing
power of the currency		(14,029,833)	(13,719,477)	(7,532,135)	(6,798,156)
Loan loss provisions		(7,192,374)	(11,395,420)	(3,544,607)	(6,022,811)
Net operating income		92,377,930	81,699,126	49,964,997	40,024,213
Personnel expenses	7.22	(38,352,744)	(41,995,953)	(20,311,668)	(21,536,914)
Administration expenses	7.23	(19,334,582)	(20,677,283)	(9,554,678)	(10,754,552)
Depreciations and impairment of non-financial assets	7.24	(6,961,712)	(6,739,999)	(3,634,520)	(3,314,472)
Other operating expenses	7.25	(16,623,269)	(17,492,234)	(7,450,148)	(9,118,656)
Operating income		11,105,623	(5,206,343)	9,013,983	(4,700,381)
(Loss) before taxes from continuing operations		11,105,623	(5,206,343)	9,013,983	(4,700,381)
Income tax		(4,151,193)	773,715	(2,749,675)	943,236
Net (loss) for the period		6,954,430	(4,432,628)	6,264,308	(3,757,145)
Net (loss) for the period attributable to owners of the
parent company		6,949,545	(4,428,157)	6,259,515	(3,753,352)
Net (loss) for the period attributable to non-controlling
interests		4,885	(4,471)	4,793	(3,793)

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

5

GRUPO SUPERVIELLE S.A.

CONSOLIDATED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME

EARNING PER SHARE

For the six and three-month period on June 30, 2023, presented on comparative basis (Expressed in thousands of pesos in homogeneous currency)

	Six-month period	Three-month period
	ending on	ending on
	06/30/2023	06/30/2022	06/30/2023	06/30/2022
NUMERATOR
Net (loss) for the period attributable to owners of the parent
company	6,949,545	(4,428,157)	6,259,515	(3,753,352)
PLUS: Diluting events inherent to potential ordinary shares	-	-	-	-
Net (loss) attributable to owners of the parent company
adjusted by dilution	6,949,545	(4,428,157)	6,259,515	(3,753,352)
DENOMINATOR
Weighted average of ordinary shares	442,784	456,722	442,672	456,722
PLUS: Weighted average of number of ordinary shares
issued with dilution effect.	-	-	-	-
Weighted average of number of ordinary shares issued of
the year adjusted by dilution effect	442,784	456,722	442,672	456,722
Basic Income per share	15.67	(9.70)	14.14	(8.22)
Diluted Income per share	15.67	(9.70)	14.14	(8.22)

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

6

GRUPO SUPERVIELLE S.A.

CONSOLIDATED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME

For the six and three-month period on June 30, 2023 presented on comparative basis (Expressed in thousands of pesos in homogeneous currency)

	Six-month period ending	Three-month period
	on		ending on
	06/30/2023		06/30/2022	06/30/2023	06/30/2022
Net (loss) for the period	6,954,430		(4,432,628)	6,264,308	(3,757,145)
Components of Other Comprehensive Income not to be
reclassified to profit or loss
Net income from equity instrument at fair value through
changes in other comprehensive income	(133,152)		(66,140)	(33,998)	(70,585)
Income for the period from equity instrument at fair value
through other comprehensive income	(204,850)		(101,754)	(52,306)	(108,594)
Income tax	71,698		35,614	18,308	38,009
Total Other Comprehensive Income not to be reclassified to
profit or loss	(133,152)		(66,140)	(33,998)	(70,585)
Components of Other Comprehensive Income to be
reclassified to profit or loss
Foreign currency translation difference in financial
statements conversion	69,989		41,928	30,804	19,867
Foreign currency translation differences for the period	69,989		41,928	30,804	19,867
(Loss) from financial instrument at fair value through
changes in other comprehensive income	79,697		(1,778,937)	124,283	(1,422,113)
(Loss) for the year from financial instrument at fair value through
other comprehensive income	112,296		(2,686,751)	180,894	(2,141,747)
Income tax	(32,599)		907,814	(56,611)	719,634
Total Other Comprehensive Income to be reclassified to
profit or loss	149,686		(1,737,009)	155,087	(1,402,246)
Total Other Comprehensive Income	16,534		(1,803,149)	121,089	(1,472,831)
Other comprehensive income attributable to owners of the parent
company	16,667		(1,801,525)	121,026	(1,471,531)
Other comprehensive income attributable to non-controlling
interests	(133)		(1,624)	63	(1,300)
Total Comprehensive (Loss)	6,970,964		(6,235,777)	6,385,397	(5,229,976)
Total comprehensive (loss) attributable to owners of the parent
company	6,966,212		(6,229,682)	6,380,541	(5,224,883)
Total comprehensive (loss) attributable to non-controlling
interests	4,752		(6,095)	4,856	(5,093)

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

7

GRUPO SUPERVIELLE S.A.

CONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN SHAREHOLDERS´ EQUITY

For the six-month period ended on June 30, 2023 presented on comparative basis (Expressed in thousands of pesos in homogeneous currency)

										Other comprehensive income
												Earnings		Total
												or los	Total
					Inflation							Shareholders´
		Inflation									accrued	Shareholders
				adjustme	Cost of						equity	Total
	Capital	adjustment	Paid in	Treasury	Legal	Other	Retained		Foreign	by	´ equity
Items	nt of	of treasury		attributable	shareholders
Stock	of capital	capital	shares	reserve	reserves	earnings	Revaluation	currency	financial	attributable
	treasury	shares	to non-	´
		stock						of PPE	translation	institution	to parent
				shares					controlling	equity
										differences	s at FV	company
											interest
												through
												profit and
												loss
Balance at December 31, 2022	444,411	13,476,572	127,853,029	12,311	1,242,167	(2,084,329)	1,561,018	7,781,851	(11,951,848)	1,578,467	93,183	(113,206)	139,893,626	110,965	140,004,591
Other movements	-	-	-	-	-	-	-	-	4,265	-	-	(4,265)	-	(31)	(31)
Consideration of results approved by the
General Assembly of Shareholders held
on April 27, 2023:
Reserves release	-	-	(4,689,043)	-	-	-	(1,561,018)	(5,697,522)	11,947,583	-	-	-	-	-	-
Acquisition of treasury shares	(1,739)	(175,558)	-	1,739	175,558	(415,553)	-	-	-	-	-	-	(415,553)	-	(415,553)
Net income for the period	-	-	-	-	-	-	-	-	6,949,545	-	-	-	6,949,545	4,885	6,954,430
Other comprehensive loss for the period	-	-	-	-	-	-	-	-	-	-	69,989	(53,322)	16,667	(133)	16,534
Balance at June 30, 2023	442,672	13,301,014	123,163,986	14,050	1,417,725	(2,499,882)	-	2,084,329	6,949,545	1,578,467	163,172	(170,793)	146,444,285	115,686	146,559,971

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