Grupo Financiero Galicia Sa Class B · BCBA:GGAL
Grupo Financiero Galicia Sa Class B — Q3 2025 Earnings Presentation
53 slides from Grupo Financiero Galicia Sa Class B's earnings presentation, November 2025
Slide 1: Investor Presentation
November 2025 z Informe de resultados 1 Investor Presentation
Slide 2: Agenda
Agenda 01 03 05 07 The Argentine Grupo Financiero Naranja X Fondos Galicia FIMA Economy 02 04 06 08 The Argentine Banco Galicia Galicia Financial System Galicia Seguros Securities
Slide 3: Economic Activity
Economic Activity The Argentine Economy Real Gross Domestic Product GDP % Change YoY QoQ % Var. (s.a.) YoY % Var. 15% 20% 2Q25 10.4% 10% 6.3% 10% 6.0% 0% -0.1% 5% -10% 3.9% 3.6% 2.7% 2.8% -20% 1Q18 4Q18 3Q19 2Q20 1Q21 4Q21 3Q22 2Q23 1Q24 4Q24 0% Industrial Production -2.1% -2.0% -1.9% -1.3% -2.6% Qo
Slide 4: International Environment
International Environment The Argentine Economy Agricultural Commodity Prices Real Effective Exchange Rates Index Dec-01=100. At Today Prices 350 REER REER Blue-Chip Swap Average 30-Aug-12 321 4550 4050 300 3550 3050 250 16-Nov-25 2550 212 2050 200 17-Nov-25 1550 1,490 1,401 150 1050 27-Apr-20 151 5
Slide 5: Fiscal Performance
Fiscal Performance The Argentine Economy Non-Financial Public Sector’s Fiscal Balance Argentine Central Bank Financing As % of GDP In USD billion | As % of GDP Primary Fiscal Balance Overall Fiscal Balance Treasury Bond Re-Purchases Secondary Market Purchases + Put Options 4% Non-Marketable Treasury
Slide 6: Sovereign Debt
Sovereign Debt The Argentine Economy Argentina: Public Sector Gross Debt* Projected Annual Debt Payments* As % of GDP In USD Billion 100,000 Foreign Currency Pesos Private Holders IFIs Public Sector Debt Total Gross Debt 180% 80,000 157% 60,000 160% 40,000 140% 20,000 120% 0 104% 2025 2026 2027 2028
Slide 7: External Sector Performance
External Sector Performance The Argentine Economy Current and Capital Accounts Foreign Trade Accrual Basis | As % of GDP In USD billion Current Account Capital Account Exports Imports 100 89.5 2% 88.4 84.3 79.7 77.9 73.7 0.9% 75 82.9 60.2 65.4 81.5 1% 54.9 75.6 63.2 66.8 60.8 50 61.6 0% 56.8 42.4 25
Slide 8: FX Markets
FX Markets The Argentine Economy FX Rates FX Gap In ARS/USD As % of the official exchange rate Bounds Official Exchange Rate Blue-Chip Swap 1,600 190% 1,500 1,400 140% 1,300 1,200 90% 1,100 1,000 40% 17-Nov-25 900 7.5% 800 -10% Dec-24 Feb-25 Apr-25 Jun-25 Aug-25 Oct-25 Dec-25 Jan-23 Jun-23 Nov-23 Ap
Slide 9: Monetary Performance
Monetary Performance The Argentine Economy Monetary Aggregates Net International Reserves 20-day Moving Average | % Change YoY In USD billion Monetary Base Currency in circulation M2 (private) CPI 0 350% -1 -2 300% -3 -4 250% -5 -6 200% -7 150% -8 -9 100% -10 72% -11 55% 13-Nov-25 50% -12 -12.5 38%
Slide 10: Inflation
Inflation The Argentine Economy National CPI Market Expectations – Central Bank Survey % Change MoM | % Change YoY Annual Inflation MoM % Var. YoY % Var. 80 2025 2026 350% 30% 60 25.5% 40 25% 29.6 250% 20 18.7 0 20% Jan-23 May-23 Sep-23 Jan-24 May-24 Sep-24 Jan-25 May-25 Sep-25 150% Inflation 15% 24
Slide 11: Agenda
Agenda 01 03 05 07 The Argentine Grupo Financiero Naranja X Fondos Economy Galicia FIMA 02 04 06 08 The Argentine Banco Galicia Galicia Galicia Seguros Securities Financial System
Slide 12: Financial Depth
Financial Depth The Argentine Financial System Deposits and Loans to the Private Sector Financial Depth As % of GDP As % of GDP Deposits from the Private Sector (ARS + USD) Deposits Loans 24 Loans to the Private Sector (ARS +USD) 22.5 22 21.6 21.9 81 20.6 71 20 69 20.1 63 18.2 18 18.4 17.3 48 47 16
Slide 13: Private Sector Deposits and Loans
Private Sector Deposits and Loans The Argentine Financial System Private Sector Deposits Private Sector Credit % Change YoY % Change YoY Total Priv. Deposits (ARS+USD) Private Dep. (ARS) Total Private Sector Credit (ARS+USD) Private Dep. (USD) Private Sec. Credit (ARS) 250% 300% Private Sec. Credit
Slide 14: Breakdown of Deposits by Currency and Type
Breakdown of Deposits by Currency and Type The Argentine Financial System Private Deposits Mix Deposits in AR$ Mix As % of Total Deposits As % of Deposits in AR$ ARS USD Current and Saving Accounts Time Deposits 100% 65% 60% 80% 79.7% 55% 54.4% 13-Nov-25 60% 65.0% 50% 40% 45% 35.0% 13-Nov-25 45.6% 4
Slide 15: Interest Rates
Interest Rates The Argentine Financial System Interest Rate Spreads Cost of Liabilities Weighted by operated amounts % 70 BADLAR Priv. Banks TAMAR Priv. Banks Spread Interest-Earning Assets Interest-Bearing Liabilities 60 40 140 50 36 34.1 120 40 111 33.4 32 32.1 30 109 32.6 28 100 20 May-25 Jun-25
Slide 16: Composition of the Banking System
Composition of the Banking System The Argentine Financial System Market share Number Private-Sector Deposits (%) Banking Institutions 60 Government-Owned Banks 14 30.2 Private Sector Banks 46 - Domestic Banks 34 39.0 - Foreing Banks 12 30.8 As of August 31, 2025 (latest available information). 16
Slide 17: Profitability
Profitability The Argentine Financial System ROE ROA 5.4 46.4 36.1 27.6 5.4 23.4 4.1 4.1 16.2 16.4 15.8 6.9 2.7 1.9 2.4 -0.1 1.0 0.0 2017 2018 2019 2020 2021 2022 2023 2024 Sep-25 2017 2018 2019 2020 2021 2022 2023 2024 Sep25 Efficiency 68.7 65.9 64.6 61.1 60.2 52.2 48.4 48.0 48.3 2017 2018 2019 202
Slide 18: Relevant Ratios
Relevant Ratios The Argentine Financial System Total Capital Ratio Liquidity Ratio 88.6 29.6 32.4 30.2 27.1 68.7 74.4 23.8 25.6 56.6 60.1 65.0 15.6 16.0 17.5 42.6 45.2 40.0 2017 2018 2019 2020 2021 2022 2023 2024 Sep25 2017 2018 2019 2020 2021 2022 2023 2024 Sep25 NPL Ratio 5.7 4.2 4.3 4.0 3.0 3.1 3
Slide 19: Agenda
Agenda 01 03 05 07 The Argentine Grupo Financiero Naranja X Fondos Economy FIMA Galicia 02 04 06 08 The Argentine Banco Galicia Galicia Financial System Galicia Seguros Securities
Slide 20: Organizational Structure
Organizational Structure Grupo Financiero Galicia EBA HOLDING 17.5% Shares 51.5% Votes 50% 20
Slide 21: Business Summary
Business Summary Grupo Financiero Galicia FINANCIAL ROE (*) ROA EFFICIENCY MARGIN 3Q25 (4.7)% 3Q25 (0.8)% 3Q25 14.5% 3Q25 65.5% - 1,990 bp y/y - 390 bp y/y - 1,410 bp y/y + 1,730 bp y/y FY25 4.7% FY25 0.9% FY25 18.1% FY25 52.4% - 2,510 bp y/y - 560 bp y/y - 3,260 bp y/y + 1,560 bp y/y (*) Excluding
Slide 22: Results from Equity Investments - 3Q25
Results from Equity Investments - 3Q25 Grupo Financiero Galicia In million AR$ -87,710 -103,894 24,708 10,275 -12,481 -228,071 -6,318 -140,361 Banco Galicia Naranja X Fondos Fima Galicia Seguros Other Net Income OCI Comprehensive Income Vs 3Q24 11% -107% -140% -194% -194% -655% -37,956% -722% Quarte
Slide 23: Agenda
Agenda 01 03 05 07 The Argentine Grupo Financiero Naranja X Fondos Economy Galicia FIMA 02 04 06 08 The Argentine Banco Galicia Galicia Financial System Seguros Securities Galicia
Slide 24: Business Summary
Business Summary Banco Galicia ROE NET LOANS DEPOSITS 3Q25 (7.3)% AR$ 17,413 bn AR$ 22,886 bn - 1,660 bp y/y + 112% y/y + 32% y/y FY25. 0.7% USD 12.7 bn USD 16.7 bn - 2,700 bp y/y ROA ASSETS EQUITY 3Q25 (1,3)% AR$ 34,042 bn AR$ 5,511 bn - 330 bp y/y + 35% y/y + 17% y/y FY25 0.1% USD 24.9 bn USD 4.0
Slide 25: Financial Structure
Financial Structure Banco Galicia Assets Funding Cash and Due from Banks 24% Government Exposure 17% 67% Deposits Net Financing 51% 9% Other Financial Liabilities 5% Negotiable Obligations 3% Other Liabilities 16% Net Worth Other Assets 8% As of September 30, 2025. 25
Slide 26: TOP Banks
TOP 10 Banks Banco Galicia Market Share of Market Share of Private-Sector Loans (%) Private-Sector Deposits (%) Nación (P) 16.8% Nación (P) 15.4% Galicia Galicia 14.6% Galicia Galicia 14.9% Santander 10.9% Santander 12.2% BBVA 10.5% BBVA 10.0% Macro 8.8% Macro 7.6% Provincia (P) 7.3% Provincia (P) 7
Slide 27: Peer Comparison
Peer Comparison Banco Galicia Market Share of Market Share of Private-Sector Loans (%) Private-Sector Deposits (%) Galicia Galicia 14.6% Galicia Galicia 14.9% Santander 10.9% Santander 12.2% BBVA 10.5% BBVA 10.0% Macro 8.8% Macro 7.6% ICBC 5.0% ICBC 3.7% As of July 31, 2025 (latest information avail
Slide 28: Peer Comparison
Peer Comparison Banco Galicia Credit Cards Branches (in thousands) 5,529 4,974 479 3,603 3,436 331 305 234 130 966 Galicia Galicia Santander BBVA Macro Supervielle Macro Galicia Galicia Santander BBVA Supervielle As of August 31, 2025 (latest information available). Source: Argentine Central Bank. 2
Slide 29: Customers
Customers Banco Galicia Consumer Banking Corporate Banking Total: 5,047,611 Total: 183,058 2% 21% 13% 8% 6% 66% 85% Low Income Medium Income High Income Prof. and Self-employed Agribusiness Corporations SMEs As of September 30, 2025. 29
Slide 30: Breakdown of Loans to the Private Sector
Breakdown of Loans to the Private Sector Banco Galicia GROSS LOANS: AR$ 18,518 bn Agribusiness 15% Individuals Middle-Market 45% Companies 16% Large Corporations 22% Financial Sector 2% As of September 30, 2025. Dollar-denominated loans: 34.3% 30
Slide 31: Loan Portfolio by Maturity
Loan Portfolio by Maturity Banco Galicia Pesos Pesos + UVA 51% 44% 21% 19% 10% 11% 1% 10% 11% 10% 6% 6% < 1 month 1 to 6 m 6 to 12 m 1 to 3 years 3 to 5 y >5y < 1 month 1 to 6 m 6 to 12 m 1 to 3 years 3 to 5 y >5y Dollars 47% 23% 14% 8% 8% < 1 month 1 to 6 m 6 to 12 m 1 to 3 years 3 to 5 y >5y As of
Slide 32: Funding and Breakdown of Deposits
Funding and Breakdown of Deposits Banco Galicia TOTAL FUNDING: AR$ 28,531 bn Other(*) 14% Subordinated Bonds 2% DEPOSITS in AR$ 22,886 bn Negotiable Obligations 4% Saving accounts Time Deposits 29% 54% Deposits 80% Checking accounts 17% Dollar-denominated deposits: 47.0% (*) Includes among other: re
Slide 33: Asset Quality
Asset Quality Banco Galicia 233.9 171.81 101.53 10.85 6.84 4.16 5.76 3.96 3.15 Sep-21 Sep-22 Sep23 Sep24 Sep25 GFG NPL ratio Bank NPL ratio Naranja NPL ratio Bank Coverage ratio Beginning in the fiscal year started on January 1, 2020, the expected credit loss model has been applied. As of September
Slide 34: Capital Ratio
Capital Ratio Banco Galicia 31.8 30.7 27.0 23.7 22.1 21.8 Sep-21 Sep-22 Sep23 Sep24 Sep25 Total Capital Tier I As of September 30, 2025. 34
Slide 35: Profitability
Profitability Banco Galicia 27.7 ROE ROA 6.3 9.3 6.4 0.7 2.0 1.5 0.1 -7.3 -1.3 3Q24 2Q25 3Q25 3Q24 2Q25 3Q25 Financial Margin Efficiency 50.9 60.5 75.3 34.6 27.2 16.6 51.5 18.9 47.9 13.0 3Q24 2Q25 3Q25 3Q24 2Q25 3Q25 FY25. As of September 30, 2025. 35
Slide 36: Relevant Ratios
Relevant Ratios Banco Galicia NPL Cost of Risk 8.2 6.1 9.3 5.8 8.2 4.4 6.4 1.8 3Q24 2Q25 3Q25 3Q24 2Q25 3Q25 Total Capital Liquidity 108.8 26.4 23.7 22.1 94.3 94.5 3Q24 2Q25 3Q25 3Q24 2Q25 3Q25 As of September 30, 2025. 36
Slide 37: Consolidated Income Statement - 3Q25
Consolidated Income Statement - 3Q25 Banco Galicia In million AR$ 168,740 443,408 595,851 575,388 -103,893 -240,713 35,785 114,527 -136,820 Net Financial Net Income from Provision for Administrative Other Income Tax Net Income OCI Comprehensive Income Services Loan Losses Expenses Income Vs 3Q24 208
Slide 38: Agenda
FIM A Agenda 01 03 05 07 The Argentine Grupo Financiero Naranja X Fondos Economy Galicia FIMA 02 04 06 08 The Argentine Banco Galicia Galicia Financial System Galicia Seguros Securities
Slide 39: Business Summary
Business Summary Naranja X ASSETS NET LOANS PERSONAL AR$ 6,777 bn AR$ 4,729 bn LOANS + 46% y/y + 33% y/y Mk Share 4.8% USD 5.0 bn USD 3.5 bn EQUITY DEPOSITS SAVING AR$ 990 bn AR$ 2,106 bn ACCOUNTS + 7% y/y + 144% y/y Mk Share USD 725 mn USD 1.5 bn 10.9% Credit Cards Deposit Accounts Digital Clients
Slide 40: Profitability and Asset Quality
Profitability and Asset Quality Naranja X Net Income ROE ROA Efficiency 3Q25 AR$ (6.3) bn 3Q25 (2.5)% 3Q25 (0.4)% 3Q25 32.5% - 107% y/y - 4,320 bp y/y - 880 bp y/y - 520 bp y/y FY25 AR$ 100.1 bn FY25 13.4% FY25 2.1% FY25 31.8% - 60% y/y - 2,810 bp y/y - 690 bp y/y - 810 bp y/y NPL Coverage Cost of R
Slide 41: Agenda
FIM A Agenda 01 03 05 07 The Argentine Grupo Financiero Naranja X Fondos Economy Galicia FIMA 02 04 06 08 The Argentine Banco Galicia Galicia Financial System Galicia Securities Seguros
Slide 42: Corporate Structure
Corporate Structure Galicia Seguros 3.7% 96.3% Sudamericana Holding G Gal G Gal Well Seguros Seguros de Seguros de Asistance Galicia Vida Retiro Originally Voluntary retirement Broker of the Assistance company Originally individuals' Whole life Voluntary individuals' and pension plans. corporate ins
Slide 43: Business Summary
Business Summary Galicia Seguros WA SSG In million AR$ Turnover (*) 49,897 42 2,700 590 73,011 AUM 54,948 7,534 5,444 1,189 156,197 Equity 42,940 2,143 5,436 1,088 29,514 Profit (*) 5,454 572 1,460 403 (831) As of September 30, 2025. (*) 3 months. 43
Slide 44: General Data
Galicia Seguros General Data Annual Turnover: AR$ 126.2 billion (3M FY2026) Policies in force: 2.8 million (voluntary insurance) Positioning 2025* Ranking Market Share Homeowners Insurance 1 11.2% Theft 3 10.2% Personal Accidents 3 6.0% Group Life 6 7.6% * As of June 30, 2025. 44
Slide 45: Distribution Channels
Distribution Channels Galicia Seguros Business Partners' • Over 400 branches of our affiliated companies (Banco Galicia and Naranja X). Branches • 45 telemarketers at our own call center. Telemarketing • 150 telemarketers at an external call center. Specialized • Near 51 stands at our business partn
Slide 46: Main Products
Main Products Galicia Seguros • Credit related life insurance. Life Insurance • Group and Individual Life Insurance. • Burial • PA Multirisk: air, public transport, pedestrian Personal Accidents • PA Financial: credit card activator • PA Self-Employed and Account Holders • Damages to Building and Co
Slide 47: Turnover and Profits Evolution
Turnover and Profits Evolution Galicia Seguros Turnover per Fiscal Year (in million AR$) $ 300,000 35.0% $ 290,000 $ 280,000 $ 270,000 Net income / Turnover Turnover 30.0% $ 260,000 30.0% $ 250,000 $ 240,000 $ 230,000 $ 220,000 25.0% $ 210,000 $ 200,000 $ 190,000 $ 180,000 20.0% $ 170,000 20.0% $ 16
Slide 48: Agenda
Agenda 01 03 05 07 The Argentine Grupo Financiero Naranja X Fondos Economy Galicia FIMA 02 04 06 08 The Argentine Banco Galicia Galicia Financial System Galicia Seguros Securities
Slide 49: Business Summary
Business Summary FIMA • Established in 1958. • FIMA and HF mutual funds. • Institutional investors, companies and individuals. 30 1,1 million 15.4% 30 Employees Clients Market Share Funds 50,000 100,000 Net Income (in million AR$) Assets under management (in million AR$) 45,000 90,000 83,697 40,000
Slide 50: Agenda
FIM A Agenda 01 03 05 07 The Argentine Grupo Financiero Naranja X Fondos Economy Galicia FIMA 02 04 06 08 The Argentine Banco Galicia Galicia Financial System Galicia Seguros Securities
Slide 51: Business Summary
Business Summary Galicia Securities Founded in 2020, Galicia Securities provides an alternative access to the Assets Under Custody capital market and offers Products & Services AR$ 4,292 bn brokerage services to 3Q25 Fixed Income individuals, companies - 18% vs. 3Q24 and institutions. Due to Stocks
Slide 52: Business Summary
Business Summary Galicia Securities Assets Under Custody 5,260,490 5,214,383 Accounts and Transactions 4,777,028 4,503,844 4,115,776 4,292,042 4,503,844 2,250,562 1,871,493 Operations: +2% vs. 3Q24 1,186,296 1,316,512 -18% vs 3Q24 10,000 55.695 55.418 56.874 60.000 9,000 Accounts: +8% vs. 3Q24 2T25
Slide 53: Contact us
Contact us www.gfgsa.com +5411 6329 4881 inversores@gfgsa.com 53
Grupo Financiero Galicia — Q3 2025 Earnings Presentation on 6ix