Bolsas y Mercados Argentinos S A : Press Release 2Q23

About this update from Bolsas Y Mercados Argentinos Sa

BYMA announces results for 2Q23 Buenos Aires, Argentina, August 11 th , 2023. - Bolsas y Mercados Argentinos S.A. (BYMA: BYMA) reported today financial results for the period of three months ended June 30 th , 2023 (2Q23). In compliance with NIC29, BYMA presented its results adjusted for inflation. The financial statements are all expressed in the currency measure adjusted as of June 2023. This includes both the figures for 2023 as well as those for 2022. The numbers presented herein are mostly historical figures. Those that are adjusted for inflation are clarified in each case. Summary of the Financial Statements April-June 2023 (2Q23) OVERALL RESULTS Excellent quarter, with revenues growing in real terms due to higher business growth, expenditures falling in real terms, and strong financial results. Net income adjusted for inflation was positive in ARS 6,356 million, being the third consecutive quarter with positive inflation adjusted results. In historical terms (nominal figures, without inflation adjustment) net income was ARS 16,086 million, more than four times the figure registered in 2Q22. Operating income, after inflation adjustment, rose 30% y-o-y. Operating expenses (excluding D&A), adjusted by inflation fell 10% with respect to 2Q22. As this faster growth of revenues over expenditures, LTM EBITDA was 68%, an all-time high. 1 BYMA - 2Q23 Financial Results ARS Million Historical 2Q22 2Q23 Var. CSD Revenues 904 1,911 111% Exchange Revenues 966 3,323 244% Income 1,870 5,234 180% Total Expenses 1,147 2,327 103% Gross Margin 722 2,906 302% Other Operating Income 276 2,708 881% Net Operatig Result 998 5,615 462% Inflation Adjustment Impact 0 0 0% Financial Income 2,781 16,386 489% Oher gains/losses -25 39 -259% Participation in other companies 60 -43 -171% EBT 3,815 21,997 477% Income Tax -308 -5,911 1820% Net Income 3,507 16,086 359% EBITDA Margin (quarter) 48% 71% Adjusted by Inflation 2Q22 2Q23 Var. 2,096 2,060 -2% 2,185 3,512 61% 4,281 5,572 30% -2,994 -2,694 -10% 1,287 2,878 124% 675 3,009 346% 1,962 5,887 200% -10,033 -14,011 40% 6,367 17,196 170% 18 17 -4% -15 39 -361% -1,701 9,129 637% -339 -2,773 N/A -2,040 6,356 412% BUSINESS HIGHLIGHTS: CSD AND EXCHANGE Assets under Custody (AUCs, quarterly average), measured in face value were 215% higher than in the same quarter of 2022. This value was lower than in 1Q23 due to a change in the portfolio composition, with less treasury bills and more bonds. When measured at market prices (the key driver for invoicing), AuC doubled since 2Q22 (+106%), and were 22% higher since the previous quarter. Regarding the Exchange, total ADTV reached an all-time high, with ARS 1,100,737 million, or more than three times 2Q22´s ADTV As in the previous quarter, this was explained by higher traded values in all the different asset classes. 2 It is worth mentioning the 295% y-o-y increase in equity ADTV, where both domestic shares as well as Cedears contributed to this increase. On-Exchange repos also experienced a remarkable performance: they were 210% higher than in 2Q22, and 38% above the value of the previous quarter. - Assets under Custody and ADTV BYMA 2Q23 2Q22 2Q23/ 2Q22 Assets under Custody (AuC) Face Value (Quarterly Avg, in millions) 4,280,546 3,539,066 21.0% Market Value (Quearterly Avg, ARS Million) 23,756,139 11,531,098 106.0% ADTV (ARS Million) TOTAL 1,100,737 356,251 209% Fixed Income 679,742 218,440 211% Guaranteed Segment 270,555 84,902 219% Non-Guaranteed Segment 409,187 133,538 206% Equity 17,339 4,391 295% On Exchange Repo 396,587 127,961 210% OPERATING INCOME HIGHLIGHTS (historical values) Revenues from the CSD (Caja de Valores) totaled ARS 1,911 million, 111% more than those in 2Q22, and 25% higher than the previous quarter. Even though CSD services explained 73% of total revenue, Registrar and Additional Services shown the higher growth rates. Exchange revenues (ARS 3,323 million) were nearly 3.5 times those observed in added up to ARS 2,381 million, against ARS 885 million in 1q22, implying an y-o-y growth of 2Q22 (ARS 966 million), which was explained by higher business activity. Exchange revenues represented 63% of operating Income, the largest shares in historical terms. In 2Q22, the share of the CSD and the Exchange were 50% each. Other operating income reached ARS 2,708 million, against ARS 276 million in 2Q22. 3 CDS and Echange Operating Income BYMA ( ARS Millions) 2Q23 2Q22 2Q23/ 2Q22 Total Revenue 5,234 1,870 180.0% CSD 1,911.0 903.6 111.5% ADC Services 1,386.8 686.1 102.1% ARyP Services 39.6 15.8 149.6% Additional services 484.7 201.6 140.4% EXCHANGE 3,322.8 965.9 244.0% Operationg Fees 3,000.5 816.8 267.4% Market Data 174.3 79.0 120.6% Other fees 148.0 70.2 110.9% FINANCIAL INCOME More than +90% of the investment portfolio is dollarized. Portfolio rotation and mark to market generated 20% of the results, with rates generating the other 80% of that segment. Growth of financial results comes from higher local and global rates Financial Income (Million ARS) 16,386 FX Difference Interest and mark to market 8,537 8,585 9,541 4,172 4,358 5,253 2,366 2,189 2,286 2,781 2,258 7,849 5,370 763 1,346 962 1,344 1,130 1,360 741 439 1,516 3,332 476 673 592 668 2,342 2,099 849 149 870 1,228 1,545 614 671 539 693 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 4 EXPENDITURES The increase in OpEx was 12.8 p.p. below annual inflation (115,6%). This was achieved thanks to tighter management of external providers and to the results of other efficiency projects. Taxes (IIBB) grew in line with higher invoicing. Interconnection with other CSDs grew in line with higher volumes in international. BYMA (ARS Millions) 2Q23 2Q22 2Q23/ 2Q22 Total Expenditures 2,327.3 1,147.4 102.8% Wages and salaries 981.0 524.6 87.0% Taxes 341.9 142.7 139.5% Maintenance and amortization 281.4 150.3 87.2% Consultancy 315.3 249.3 26.5% Transportation and insurance 14.6 15.1 -3.6% Interconnection with other CSDs 142.5 51.3 177.6% Others 250.7 14.0 1693.2% . EFFICIENCY LTM EBITDA margin reached an all-time-high of 68%. This resulted from revenues growing higher than expenditures. The also increasing operating margin (which does nor include financial income), shows the results of higher efficiency and remains above our target of 50%. YTD operating margin (54%) was a record for a first semester EBITDA Mg. Rolling 12 month 68% Operating Margin 54% 63% 64% 56% 58% 59% 42% 38% 37% 39% 41% 52% 51% 50% 50% 50% 49% 41% 2018 2019 2020 2021 2022 YTD 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 5

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