Grupo Financiero Galicia Sa Class B · BCBA:GGAL
Grupo Financiero Galicia Sa Class B — Q2 2026 Earnings Presentation
58 slides from Grupo Financiero Galicia Sa Class B's earnings presentation, August 2026
Slide 1: Investor Presentation 2Q26
AUGUST 2026 z Informe de resultados 1 Investor Presentation 2Q26
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 Real Gross Domestic Product % Change YoY 15% QoQ % Change (s.a.) YoY % Change 20% 10,4% 10% 15% 6,0% 4,5% 10% 5% 2,7% 2,8% 2,5% 2,4% 5% 2,3% 0% 0% 0,7% -2,1% -2,0% -1,9%-1,4% -2,6% -5% -5% -10% -10% -9,9% -15% -15% -20% 2015 2017 20
Slide 4: Economic Activity
Economic Activity The Argentine Economy Economic Activity Economic Activity Change % YoY | Index Nov-23=100 Index Nov-23=100 Var. % Change EMAE SA EMAE IPI ISAC 10% 108 110 105 8% jun-26 105 105 6% 105 jun-26 100 97 4% 95 2,7% 2% 103 90 0% 85 -2% 100 80 80 -4% 75 -6% 98 70 -8% 65 -10% 95 60 nov-23 a
Slide 5: International Environment
International Environment The Argentine Economy Agricultural Commodity Prices Real Effective Exchange Rates Index Dec-01=100. At Today Prices Source: Banco Galicia based on BCRA 5
Slide 6: External Sector Performance
External Sector Performance The Argentine Economy Foreign Trade Trade Balance In USD billion In USD billion Source: Banco Galicia based on INDEC and own estimates Source: Banco Galicia based on INDEC and own estimates 6
Slide 7: Fiscal Performance
Fiscal Performance The Argentine Economy Non-Financial Public Sector’s Fiscal Balance Non-Financial Public Sector’s Primary Fiscal Balance As % of GDP In USD billion |As % of GDP Source: Banco Galicia based on Ministry of Economy and own estimates Source: Banco Galicia based on Ministry of Economy 7
Slide 8: Sovereign Debt
Sovereign Debt The Argentine Economy Projected Annual Debt Payments* Debt by Currency* In USD Billion % Source: Banco Galicia based on Ministry of Economy Source: Banco Galicia based on Ministry of Economy *As of March 31, 2026 | Local currency debt AR$/USD 1,382.8 *As of March 31, 2026 | Local curr
Slide 9: BCRA FX Purchases and Net International Reserves
BCRA FX Purchases and Net International Reserves The Argentine Economy BCRA Purchases to Private Sector Net International Reserves* Accumulation In USD billion - YTD In USD billion - YTD • IMF Methodology Source: Banco Galicia based on BCRA • Source: Banco Galicia based on BCRA and IMF 9
Slide 10: FX Markets
FX Markets The Argentine Economy FX Rates FX Gap Blue-Chip Swap In ARS/USD As % of the official exchange rate Source: Banco Galicia based on market data Source: Banco Galicia based on market data 10
Slide 11: Monetary Performance
Monetary Performance The Argentine Economy Monetary Base Monetary Base % Change YoY % Change YoY Source: Banco Galicia based on BCRA Source: Banco Galicia based on BCRA 11
Slide 12: Inflation
Inflation The Argentine Economy National CPI Inflation % Change MoM | % Change YoY % Change YoY Source: Banco Galicia based on INDEC Source: Banco Galicia based on INDEC and own estimates 12
Slide 13: Inflation
Inflation The Argentine Economy Market Expectations – Central Bank Survey (REM) Inflation Expectations Annual Inflation Monthly Inflation Rate % Source: Banco Galicia based on BCRA Source: Banco Galicia based on BCRA and market data 13
Slide 14: 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 15: Financial Depth
Financial Depth The Argentine Financial System Deposits and Loans to the Private Sector Financial Depth As % of GDP As % of GDP Source: Banco Galicia based on BCRA and own estimations Source: Banco Galicia based on World Bank and BCRA 15
Slide 16: Private Sector Deposits and Loans
Private Sector Deposits and Loans The Argentine Financial System Private Sector Deposits Private Sector Credit % Change YoY % Change YoY Source: Banco Galicia based on BCRA 16
Slide 17: Private Sector Deposits and Loans
Private Sector Deposits and Loans The Argentine Financial System Private Sector Deposits and Credit in USD Private Sector Deposits and Credit in USD In USD Billion % Change YoY Source: Banco Galicia based on BCRA Source: Banco Galicia based on BCRA 17
Slide 18: 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$ Source: Banco Galicia based on BCRA 18
Slide 19: Interest Rates
Interest Rates The Argentine Financial System Interest Rate Spread Yield on Assets % Nominal Annual Interest Rate % Nominal Annual Interest Rate Source: Banco Galicia based on BCRA Source: Banco Galicia based on Ministry of Economics and own estimates 19
Slide 20: Interest Rates
Interest Rates The Argentine Financial System Cost of Liabilities – Private Banks Market Interest Rates % Nominal Annual Interest Rate % Nominal Annual Interest Rate Source: Banco Galicia based on BCRA Source: Banco Galicia based on Ministry of Economics and own estimates 20
Slide 21: 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 31.5 Private Sector Banks 46 - Domestic Banks 34 38.2 - Foreing Banks 12 30.3 As of May 31, 2026 (latest available information). 21
Slide 22: Profitability
Profitability The Argentine Financial System ROE ROA 4,1 27,6 5,4 16,2 16,4 6,5 1,5 15,8 2,4 1,9 6,9 4,4 1,0 1,0 2020 2021 2022 2023 2024 2025 May26 2020 2021 2022 2023 2024 2025 May26 Efficiency 68,7 65,9 65,6 60,2 48,0 48,3 52,4 2020 2021 2022 2023 2024 2025 May26 Source: Argentine Central Bank. I
Slide 23: Relevant Ratios
Relevant Ratios The Argentine Financial System Total Capital Ratio Liquidity Ratio 32,4 88,6 29,6 30,2 28,6 30,7 68,7 74,4 23,8 25,6 65,0 45,2 40,6 37,7 2020 2021 2022 2023 2024 2025 May26 2020 2021 2022 2023 2024 2025 May26 NPL Ratio 7,3 5,3 4,2 4,3 3,1 3,5 1,6 2020 2021 2022 2023 2024 2025 May26 S
Slide 24: 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 25: Organizational Structure
Organizational Structure Grupo Financiero Galicia Capital Structure EBA HOLDING BYMA 18,6% EBA Holding 17,5% 17.5% Shares 51.5% Votes Families EBA 6,5% ANSES 22,5% Nasdaq 34,9% 50% 25
Slide 26: Business Summary
Business Summary Grupo Financiero Galicia FINANCIAL ROE ROA EFFICIENCY MARGIN 2Q26 11.3% 2Q26 2.1% 2Q26 17.9% 2Q26 35.0% + 167 bp y/y + 26 bp y/y - 129 bp y/y - 591 bp y/y FY26 7.3% FY26 1.3% FY26 17.8% FY26 37.2% - 183 bp y/y - 43 bp y/y - 141 bp y/y - 723 bp y/y As of June 30, 2026. 26
Slide 27: Results from Equity Investments - 2Q26
Results from Equity Investments - 2Q26 Grupo Financiero Galicia In million AR$ 3.591 22.642 34.292 38.242 35.619 258.322 224.030 158.228 Banco Galicia Naranja X Fondos Fima Galicia Seguros Other Net Income OCI Comprehensive Income Vs 2Q25 21% 6% 33% 12% -17% -11% -17% -188% Quarterly figures. 27
Slide 28: 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 29: Business Summary
Business Summary Banco Galicia ROE NET LOANS DEPOSITS 2Q26 8.8% AR$ 22,506 bn AR$ 27,029 bn + 236 bp y/y + 11% y/y + 1% y/y FY26. 5.9% USD 15.2 bn USD 18.2 bn + 168 bp y/y ROA ASSETS EQUITY 2Q26 1.6% AR$ 41,048 bn AR$ 7,248 bn + 19 bp y/y - 0% y/y - 0% y/y FY26 1.1% USD 27.7 bn USD 4.9 bn + 9 bp y/y
Slide 30: Financial Structure
Financial Structure Banco Galicia Assets Funding Cash and Due from Banks 15% Government Exposure 22% 66% Deposits Net Financing 55% 10% Other Financial Liabilities 4% Negotiable Obligations 2% Other Liabilities 18% Net Worth Other Assets 8% As of June 30, 2026. 30
Slide 31: TOP Banks
TOP 10 Banks Banco Galicia Market Share of Market Share of Private-Sector Loans (%) Private-Sector Deposits (%) Nación (P) 19,0% Nación (P) 17,3% Galicia Galicia 14,2% Galicia Galicia 14,3% BBVA 10,4% Santander 10,5% Santander 10,1% BBVA 9,7% Macro 8,0% Macro 7,6% Provincia (P) 7,4% Provincia (P) 7,
Slide 32: Peer Comparison
Peer Comparison Banco Galicia Market Share of Market Share of Private-Sector Loans (%) Private-Sector Deposits (%) Galicia Galicia 14,2% Galicia Galicia 14,3% BBVA 10,4% Santander 10,5% Santander 10,1% BBVA 9,7% Macro 8,0% Macro 7,6% ICBC 5,0% ICBC 4,1% As of April 30, 2026 (latest information avail
Slide 33: Peer Comparison
Peer Comparison Banco Galicia Credit Cards Branches (in thousands) 4.718 4.642 418 4.384 3.276 292 276 229 129 774 Santander BBVA Galicia Galicia Macro Supervielle Macro Galicia Galicia Santander BBVA Supervielle As of April 30, 2026 (latest information available). Source: Argentine Central Bank. 33
Slide 34: Customers
Customers Banco Galicia Consumer Banking Corporate Banking Total: 5,201,244 Total: 188,878 2% 13% 28% 58% 8% 5% 85% Low Income Medium Income High Income Prof. and Self-employed Agribusiness Corporations SMEs As of June 30, 2026. 34
Slide 35: Breakdown of Loans to the Private Sector
Breakdown of Loans to the Private Sector Banco Galicia GROSS LOANS: AR$ 23,946 bn Agribusiness 15% Individuals Middle-Market 44% Companies 14% Large Corporations 25% Financial Sector 2% As of June 30, 2026. Dollar-denominated loans: 40.1% 35
Slide 36: Loan Portfolio by Maturity
Loan Portfolio by Maturity Banco Galicia Pesos Pesos + UVA 65% 43% 16% 3% 15% 0% 11% 3% 10% 7% 9% 8% < 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 49% 21% 19% 7% 4% < 1 month 1 to 6 m 6 to 12 m 1 to 3 years 3 to 5 y >5y As of Ju
Slide 37: Funding and Breakdown of Deposits
Funding and Breakdown of Deposits Banco Galicia TOTAL FUNDING: AR$ 33,800 bn Other(*) 14% Subordinated Bonds 2% DEPOSITS: AR$ 27,029 bn Negotiable Obligations 3% Saving accounts 30% Time Deposits 53% Deposits 81% Checking accounts 17% Dollar-denominated deposits: 46.0% (*) Includes among other: repo
Slide 38: Asset Quality
Asset Quality Banco Galicia 35,00 250 218,51 200 30,00 150 25,00 100 92,80 20,00 19,74 50 15,00 0 -50 10,60 10,00 8,80 -100 5,003,50 -150 3,16 2,16 0,00 -200 Jun-22 Jun23 Jun24 Jun25 Jun26 GFG NPL ratio Bank NPL ratio Naranja NPL ratio Bank Coverage ratio Beginning in the fiscal year started on Janu
Slide 39: Capital Ratio
Capital Ratio Banco Galicia 26,4 26,0 25,9 24,1 21,7 Jun-22 Jun23 Jun24 Jun25 Jun26 Total Capital Tier I As of June 30, 2026. 39
Slide 40: Profitability
Profitability Banco Galicia 10,0 ROE ROA 8,0 1,5 6,0 5,9 1,0 4,0 4,2 8,8 1,6 1,4 5,4 0,5 2,0 2,9 0,5 0,0 0,0 2Q25 1Q26 2Q26 2Q25 1Q26 2Q26 19,0 Financial Margin Efficiency 18,5 18,4 52,9 18,0 41,3 17,5 17,0 18,7 16,9 47,0 44,3 16,5 38,8 16,7 17,0 16,0 15,5 2Q25 1Q26 2Q26 2Q25 1Q26 2Q26 FY26. As of J
Slide 41: Relevant Ratios
Relevant Ratios Banco Galicia 10,0 NPL Cost of Risk 10,0 9,4 8,0 8,0 7,6 6,0 6,0 8,8 9,5 9,3 4,0 7,7 4,0 8,2 5,2 2,0 2,0 0,0 0,0 2Q25 1Q26 2Q26 2Q25 1Q26 2Q26 30,0 Total Capital 97,0 Liquidity 95,0 25,0 93,0 94,3 20,0 91,0 25,5 26,0 95,0 23,7 89,0 93,1 15,0 87,0 10,0 85,0 2Q25 1Q26 2Q26 2Q25 1Q26 2Q
Slide 42: Consolidated Income Statement - 2Q26
Consolidated Income Statement - 2Q26 Banco Galicia In million AR$ 1400000 1300000 1200000 1100000 222.816 1000000 544.517 900000 800000 700000 600000 500000 1.031.408 486.930 400000 300000 31.437 95.986 200000 30.632 100000 158.228 127.596 0 Net Financial Net Income Provision for Administrative Othe
Slide 43: 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 44: Business Summary
Business Summary Naranja X ASSETS NET LOANS PERSONAL AR$ 7,627 bn AR$ 5,014 bn LOANS - 12% y/y - 17% y/y Mk Share 4.8% USD 5.1 USD 3.4 bn bn EQUITY DEPOSITS SAVING AR$ 1,177 bn AR$ 2,330 bn ACCOUNTS - 6% y/y + 7% y/y Mk Share USD 793 mn USD 1.6 bn 6.3% Credit Cards Deposit Accounts Digital Clients 8
Slide 45: Profitability and Asset Quality
Profitability and Asset Quality Naranja X Net Income ROE ROA Efficiency 2Q26 AR$ 35.5 bn 2Q26 12.2% 2Q26 1.9% 2Q26 31.9% + 17% y/y - 162 bp y/y - 21 bp y/y + 103 bp y/y FY26 AR$ 15.5 bn FY26 2.7% FY26 0.4% FY26 32.7% - 88% y/y - 1,893 bp y/y - 300 bp y/y + 124 bp y/y Financial Margin Cost of Risk NP
Slide 46: 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 47: Corporate Structure
Corporate Structure Galicia Seguros 3.72% 96.28% Sudamericana Holding G Gal G Gal Well Seguros Asistance Seguros Seguros Galicia de Vida de Retiro Originally Voluntary retirement Broker of the Assistance company Originally individuals' Whole life Voluntary individuals' and pension plans. corporate i
Slide 48: Business Summary
Business Summary Galicia Seguros WA SSG GGAL Turnover (*) 230.358 192 16.730 2.204 387.314 97.406 AUM 55.187 9.358 9.292 1.748 232.414 827.267 Equity 61.221 3.215 8.312 1.378 43.642 159.512 Profit (*) 8.697 370 7.985 1.332 4.474 30.554 As of June 30, 2026. (*) 12 months. 48
Slide 49: General Data and Positioning
Galicia Seguros General Data Annual Turnover: AR$ 734,2 billion (12M FY2026) Policies in force: 2.4 million (voluntary insurance) Positioning* Ranking Market Share Homeowners Insurance 1st 11,33% Theft 3rd 8,43% Group Life 7th 5,25% Personal Accidents 6th 6,51% * As of March 31, 2026. 49
Slide 50: Distribution Channels
Distribution Channels Galicia Seguros Business Partners' • Over 500 branches of our affiliated companies (Banco Galicia and Naranja X). Branches • 50 telemarketers at our own call center. Telemarketing • 273 telemarketers at an external call center. Specialized • 60 stands at our business partners'
Slide 51: 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 52: Turnover and Profits Evolution (excluding GGAL)
Turnover and Profits Evolution (excluding GGAL) Galicia Seguros Turnover per Fiscal Year (in million AR$) Net income / Turnover Turnover Combined Ratio GS (%) 83% 85% 86% 103% 89% 92% 52
Slide 53: Agenda
Agenda 01 03 05 07 The Argentine Grupo Financiero Naranja X Fondos Economy Galicia FIMA 02 04 06 08 The Argentine Banco Galicia Galicia Financial System Galicia Seguros Securities
Slide 54: Business Summary
Business Summary FIMA • Established in 1958. • FIMA and HF mutual funds. • Institutional investors, companies and individuals. 30 1.3 million 14.3% 21 Employees Clients Market Share Funds Net Income (in million AR$) Assets under management (in million AR$) 40.000 74.943 15.483.273 74.341 74.000 72.0
Slide 55: Agenda
FIM A Agenda 01 03 05 07 The Argentine Grupo Financiero Naranja X Fondos Economy Galicia FIMA 02 04 06 08 The Argentine Banco Galicia Galicia Financial System Galicia Seguros Securities
Slide 56: Business Summary
Business Summary Galicia Securities Founded in 2020, Galicia Securities provides an alternative access to the Assets Under Custody capital market and offers Products & Services AR$ 4,974 bn 2Q26 brokerage services to Fixed Income individuals, companies and Stocks - 5% vs. 2Q25 institutions. Due to t
Slide 57: Business Summary
Business Summary Galicia Securities Assets Under Custody Accounts and Transactions 6.120.044 56.874 5.262.495 Operations: -12% vs. 2Q25 -5% vs 2Q25 4.974.710 38.501 43.843 2Q25 3Q25 4Q25 1Q26 2Q26 FIMA Accounts: -7% vs. 2Q25 548.440 8.456 8.424 8.456 7.715 7.851 460.031 2Q25 3Q25 4Q25 1Q26 2Q26 488.
Slide 58: Contact us
Contact us www.gfgsa.com +5411 6329 4881 inversores@gfgsa.com 58
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