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Published: 2023-05-24 14:10:29 ET

EX-99.1 2 pressreleasegfg20231q.htm EX-99.1 pressreleasegfg20231q

Financial Report Grupo Financiero Galicia S.A. 20231st. quarter

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima This report is a summary analysis of Grupo Galicia’s financial condition and results of operations as of and for the periods indicated above. For a correct interpretation, this report must be read in conjunction with GFG’s financial statements, as well as with all other information periodically filed with the National Securities Commission (www.cnv.gob.ar), the Buenos Aires Stock Exchange (www.labolsa.com.ar), the Cordoba Stock Exchange (www.bolsacba.com.ar) and the Nasdaq (www.nasdaq.com). Readers of this report must note that this is a free translation made from an original version written and expressed in Spanish. Therefore, any matters of interpretation should be referred to the original version in Spanish. Grupo Galicia Buenos Aires, Argentina, May 23, 2023, Grupo Financiero Galicia S.A. (“Grupo Galicia” o “GFG”, BYMA/NASDAQ: GGAL), announced its financial results for the first quarter of fiscal year 2023, ended on March 31, 2023. Diego Rivas Chief Financial Officer Conference Call May 24, 2023 12:00 am (Eastern Time) 1:00 pm (Argentina) +1 786 697 3501 866 580 3963 Password: Grupo Financiero Galicia Pablo Firvida Investor Relations Officer The information in this report was adjusted and restated to constant currency, in accordance with IAS 29 “Financial Information in Hyperinflationary Economies” except otherwise noted. Grupo Financiero Galicia Please join the call 5 minutes before the booked start time to allow the operator to transfer you into the call by the scheduled start time

Financial Report Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Grupo Galicia includes Banco de Galicia y Buenos Aires S.A.U. (Galicia), Tarjetas Regionales S.A. (Naranja X), Sudamericana Holding S.A. (Galicia Seguros), Galicia Asset Management S.A.U. (Fondos Fima), IGAM LLC (Inviu), Galicia Securities S.A.U. and Agri Tech Investments LLC (Nera). It is one of the main financial services holding companies in the country. It provides savings, credit and investment opportunities to people and companies with a high commitment of its board of directors in customer experience and sustainable development.

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Net profit per share Ps.12.29 Capital Ratio 22.90% Employees 8,742 Branches and other points of sale 463 Deposits accounts Galicia In thousands 7,000 Credit cards In thousands 13,538 4 Ps.18,126 million Net income for the quarter +71% vs. 1Q 2022 ROE 9.79% +385 bp vs. 1Q 2022 Efficiency 73.63% -468 bp vs. 1Q 2022 Highlights Grupo Galicia launched Nera, a digital ecosystem with entrepreneurial spirit for those who want to have within easy reach all payment and financing alternatives for the agricultural sector, connecting suppliers and producers who want to grow in an agile and safe way.

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima (1) Galicia consolidated with Naranja X. Selected ratios Percentages 2023 2022 Variation (bp) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 ROA 1.86 2.89 1.12 (103) 74 ROE 9.79 14.82 5.94 (503) 385 Financial Margin 25.00 22.73 19.87 227 513 Efficiency ratio 73.63 63.64 78.30 999 (468) Capital ratio (1) 22.90 24.68 22.98 (178) (8) NPL Ratio 2.68 2.52 3.23 17 (55) Allowance for loan losses / Private-sector financing 4.81 4.96 5.73 (15) (92) Coverage 179.11 196.87 177.12 (1,775) 199 Non-accrual portfolio with guarantees to non-accrual portfolio 7.89 6.77 9.74 112 (184) Cost of risk 3.68 4.94 2.55 (126) 113 5 Selected financial information

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Net income attributable to GFG for the quarter amounted to Ps.18,126 million, which represented a 1.86% annualized return on average assets and a 9.79% annualized return on average shareholder´s equity. Said result is mainly due to profits from its interest in Galicia (Ps.15,033 million), in Fondos Fima (Ps.2,222 million), in Galicia Seguros (Ps.697 million). and in Naranja X (Ps.607 million). 6 Results for the quarter Results from Equity Investments 15,033 607 697 2,222 9,685 12 480 1,583 1Q 2023 1Q 2022 Galicia Naranja X Galicia Seguros Fondos Fima

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Balance Sheet In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Assets Cash and due from banks 495,238 544,806 590,019 (9) (16) Debt securities 59,439 964,449 628,955 (94) (91) Net loans and other financing 1,461,091 1,529,545 1,648,385 (4) (11) Other financial assets 1,553,583 847,356 627,628 83 148 Investment in subsidiaries, associates and joint ventures 1,066 812 791 31 35 Property, bank premises, equipment 139,791 140,992 144,523 (1) (3) Intangible assets 46,346 46,883 50,206 (1) (8) Other assets 43,151 45,973 41,884 (6) 3 Assets available for sale 2 1 80 100 (98) Total assets 3,799,707 4,120,817 3,732,471 (8) 2 Liabilities Deposits 2,292,087 2,607,480 2,309,695 (12) (1) Financing from financial entities 42,280 45,574 48,543 (7) (13) Other financial liabilities 429,094 426,735 374,234 1 15 Negotiable obligations 71,196 81,930 72,131 (13) (1) Subordinated negotiable obligations 52,528 55,273 56,843 (5) (8) Other liabilities 152,596 162,055 142,775 (6) 7 Total liabilities 3,039,781 3,379,047 3,004,221 (10) 1 Total Shareholders' equity 759,926 741,770 728,250 2 4 8 Selected financial information

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Financial Report Since 1905, Galicia work for the development of Argentina, being the main private bank controlled by national capital. Through its assisted and digital distribution channels, it markets a wide range of financial products and services for individuals and companies throughout the country. Galicia defines the customer experience and digital transformation as strategic focuses to efficiently achieve successful growth.

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Portfolio Quality 2.50% -61 bp. vs. 1Q 2022 Coverage 186.00% +578 bp. vs. 1Q 2022 10 Ps.15,033 million Net income +55% vs. 1Q 2022 ROE 10.14% +351 bp vs. 1Q 2022 Efficiency 75.98% -256 bp vs. 1Q 2022 Cost of risk 2.88% +151 bp. vs. 1Q 2022 Capital Ratio 23.47% -62 bp. vs. 1Q 2022 11.69% Market share: Loans to the private sector 9.75% Market share: Deposits to the private sector -39 bp vs. 1Q 2022 -44 bp vs. 1Q 2022 Highlights Branches Deposit accounts In thousands Employees Credit Cards In thousands 305 7,000 5,472 5,029 Digital clients 83%

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Income Statement In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Net interest income 85,948 334 32,295 25,633 166 Net fee income 20,655 20,493 18,197 1 14 Net results from financial instruments 50,311 144,753 75,882 (65) (34) Gold and foreign currency quotation differences 11,729 9,152 3,318 28 253 Other operating income 26,747 24,631 17,804 9 50 Loan-loss provisions (9,072) (14,390) (4,717) (37) 92 Net operating income 186,318 184,973 142,779 1 30 Personnel expenses (21,605) (24,476) (17,743) (12) 22 Administrative expenses (18,195) (21,152) (19,627) (14) (7) Depreciations and devaluations of assets (6,499) (7,077) (6,397) (8) 2 Other operating expenses (33,839) (37,134) (22,268) (9) 52 Operating income 106,180 95,134 76,744 12 38 Results from the net monetary position (84,954) (66,638) (61,808) 27 37 Results from associates and joint businesses (174) (46) (33) 278 427 Income tax (6,019) (3,737) (5,218) 61 15 Net Income 15,033 24,713 9,685 (39) 55 Other comprenhensive income (1) (2) 108 50 (101) Total comprenhensive income 15,032 24,711 9,793 (39) 53 11 Results for the quarter In the first quarter of 2023, Galicia registered a net income of Ps.15,033 million, Ps.5,348 million (55%) higher than the result of the same quarter of the previous year, which represented an annualized ROE of 10.14% and an ROA of 1.80%. The operating result was higher by Ps.29,436 million (38%) compared to the first quarter of 2022, as a result of a higher net operating income. Net operating income reached Ps.186,318 million, Ps.43,539 million (30%) higher than the Ps.142,779 million in the same quarter of the previous year, mainly as a result of a higher net interest income for Ps.53,653 million (166%), offset by a lower net result from financial instruments of Ps.25,571 million (34%). It is important to highlight that the portfolio of instruments issued by the Argentine Central Bank (Leliqs) acquired as of January 1, 2023 is valued at amortized cost, recording its yield in net interest income.

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima 12 Profitability and efficiency Financial margin Efficiency ratio ROA ROE 1.80% 2.91% 1.16% 1Q 2023 4Q 2022 1Q 2022 10.14% 16.43% 6.63% 1Q 2023 4Q 2022 1Q 2022 24.08% 22.64% 19.25% 1Q 2023 4Q 2022 1Q 2022 75.98% 62.92% 78.54% 1Q 2023 4Q 2022 1Q 2022

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Interest-earning assets(1) Average balances: in millions of pesos. Yields and rates: annualized nominal % 2023 2022 Variation (% | bp) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Avg Bce Yield Avg Bce Yield Avg Bce Yield Avg Bce Yield Avg Bce Yield In pesos 2,142,628 68.05 2,274,856 65.68 2,013,131 42.40 (6) 237 6 2,565 Government securities 1,022,540 74.44 1,060,796 75.33 739,269 44.61 (4) (89) 38 2,983 Loans 882,090 61.22 981,356 57.13 1,080,937 37.49 (10) 409 (18) 2,373 Other interest-earning assets 237,998 65.88 232,704 57.71 192,925 61.47 2 817 23 441 In foreign currency 84,772 4.69 96,609 7.36 100,986 6.98 (12) (267) (16) (229) Government securities 8,849 (4.07) 7,396 (2.76) 2,662 (17.19) 20 (131) 232 1,312 Loans 74,332 5.73 87,538 4.84 95,055 5.61 (15) 89 (22) 12 Other interest-earning assets 1,591 4.53 1,675 183.72 3,269 66.50 (5) (17,919) (51) (6,197) Interest-earning assets 2,227,400 65.64 2,371,465 63.30 2,114,117 40.71 (6) 234 5 2,493 (1) Does not include foreign currency quotation differences. Annual nominal interest rates were calculated using a 360-day denominator. Average earning assets reached Ps.2,227,400 million, registering an increase of Ps.113,283 million (5%), compared to the first quarter of 2022. This increase was mainly the result of an increase in the volume of government securities in pesos for Ps.283,271 million (38%), offset by a decrease in the volume of loans in pesos for Ps.198,847 million (18%). The average lending rate for the quarter of the year was 65.64%, representing an increase of 2,493 b.p., compared to the same quarter of the previous year. This variation is mainly justified by higher average yields on government securities in pesos (2,983 bp) and higher average yields on loans in pesos (2,373 bp). 13 Yields and rates

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Interest-bearing liabilities(1) Average balances: in millions of pesos. Yields and rates: annualized nominal % 2023 2022 Variation (%|bp) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Avg Bce Yield Avg Bce Yield Avg Bce Yield Avg Bce Yield Avg Bce Yield In pesos 1,503,042 57.49 1,559,520 55.97 1,439,209 28.35 (4) 152 4 2,914 Saving accounts 215,178 0.01 227,913 0.01 266,098 0.02 (6) — (19) (1) Time deposits 934,735 69.01 1,003,642 69.06 833,027 37.51 (7) (5) 12 3,150 Other Deposits 313,466 61.68 315,553 54.73 320,077 27.60 (1) 695 (2) 3,408 Debt securities 4,155 77.30 6,507 66.08 9,755 40.96 (36) 1,122 (57) 3,634 Other interest-bearing liabilities 35,508 63.46 5,905 45.43 10,252 31.09 501 1,803 246 3,237 In foreign currency 414,080 1.77 378,975 1.86 432,427 1.44 9 (9) (4) 33 Saving accounts 262,613 — 226,613 — 258,255 — 16 — 2 — Time deposits 68,698 1.43 66,404 1.42 74,644 0.59 3 1 (8) 84 Other Deposits 12,958 — 12,262 — 19,610 — 6 — (34) — Debt securities 57,948 9.36 59,178 9.36 67,258 8.06 (2) — (14) 130 Other interest-bearing liabilities 11,863 7.86 14,518 3.99 12,660 2.90 (18) 387 (6) 496 Interest-bearing liabilities 1,917,122 45.46 1,938,495 45.39 1,871,636 22.13 (1) 7 2 2,333 Interest bearing liabilities reached Ps.1,917,122 million, registering an increase of Ps.45,486 million (2%) in relation to the same period of 2022, mainly due to an increase in time deposits in pesos for Ps.101,708 million (12%), offset by a decrease in: • saving accounts in pesos for Ps.50,920 million (19%) • debt securities in foreign currency for Ps.9,310 million (14%) Likewise, the average rate on interest-bearing liabilities was 45.46%, registering an increase of 2,333 b.p. with respect to the first quarter of the previous year, as a consequence of the increase in the rate on time deposits in pesos for 3,150 bp and in other deposits in pesos for 3,408 bp. (1) Does not include foreign currency quotation differences. Annual nominal interest rates were calculated using a 360-day denominator. 14

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Interest Income In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Private sector securities 8 8 10 — (20) Public sector securities 143,495 58,674 21,570 145 565 Loans and other financing 135,873 141,802 102,146 (4) 33 Financial sector 1,152 2,170 1,211 (47) (5) Non-financial private sector 134,721 139,632 100,935 (4) 33 Overdrafts 16,288 23,231 10,973 (30) 48 Promissory notes 53,861 53,469 40,347 1 33 Mortgage loans 12,155 14,114 10,495 (14) 16 Pledge loans 2,819 3,089 2,697 (9) 5 Personal loans 15,751 15,491 14,879 2 6 Credit-card loans 32,675 29,238 20,274 12 61 Financial leases 541 433 127 25 326 Pre-financing and export financing 318 262 719 21 (56) Other 313 305 424 3 (26) Other interest-earning assets 24,354 19,858 12,137 23 101 Interest income 303,730 220,342 135,863 38 124 Net interest income for the quarter amounted to Ps.85,948 million, with a Ps.53,653 million (166%) increase compared to the Ps.32,295 million profit from the same quarter of 2022. Net interest income Interest income for the quarter reached Ps.303,730 million, 124% higher than the Ps.135,863 million registered in the first quarter of 2022. This increase was a consequence of: • higher interest on public sector securities measured at amortized cost for Ps.121,925 million (565%), due to the interest accrued on the portfolio of the instruments issued by the Argentine Central Bank (Leliq) acquired from January 1, 2023. • higher interest on loans and other financing for Ps.33,727 million (33%), as a consequence of higher income on promissory notes (33%), overdrafts (48%) and credit-card loans (61%). 15

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Interest expenses totaled Ps.217,782 million, registering an increase of 110%, compared to the same quarter of 2022. This increase was a consequence of: • higher interest expenses on time deposits and term investments for Ps.83,283 million (106%), due to the increase in the interest rate. • higher expenses on other deposits for Ps.26,248 million (119%), due to an increase in the interest rate. Interest expenses In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Deposits 209,855 216,707 100,326 (3) 109 Saving accounts 8 9 10 (11) (20) Time deposits and term investments 161,510 173,525 78,227 (7) 106 Other 48,337 43,173 22,089 12 119 Financing from financial institutions 153 286 278 (47) (45) Repurchase agreement transactions 249 385 515 (35) (52) Other interest-bearing liabilities 5,466 149 98 3,568 5,478 Negotiable obligations 1,011 1,368 1,197 (26) (16) Subordinated Negotiable obligations 1,048 1,113 1,154 (6) (9) Interest expenses 217,782 220,008 103,568 (1) 110 16

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Net Fee Income In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Credit cards 10,410 10,398 9,549 — 9 Deposit accounts 4,908 5,771 4,958 (15) (1) Insurance 1,088 1,061 1,261 3 (14) Financial fees 23 10 18 130 28 Credit- related fees 80 70 143 14 (44) Foreign trade 1,054 938 1,540 12 (32) Collections 2,933 3,057 1,998 (4) 47 Utility-Bills collection services 3,431 3,030 2,940 13 17 Mutual Funds 820 688 562 19 46 Other 1,342 1,179 1,034 14 30 Total fee income 26,089 26,202 24,003 — 9 Total expenditures (5,434) (5,709) (5,806) (5) (6) Net fee income 20,655 20,493 18,197 1 14 The net fee income reached Ps.20,655 million, registering an increase of 14% compared to Ps.18,197 million in the first quarter of 2022. This increase was mainly due to: • higher income from collections for Ps.935 million (47%), due to an update of prices. • higher income generated by credit cards for Ps.861 million (9%). 17 Net fee income

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Net Income from Financial Instruments In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Government securities 47,763 141,230 66,503 (66) (28) Argentine Central Bank 28,361 131,167 50,361 (78) (44) Other 19,402 10,063 16,142 93 20 Private sector securities 2,438 2,357 6,441 3 (62) Derivative financial instruments 110 1,165 797 (91) (86) Forward transactions 545 1,556 797 (65) (32) Options (435) (391) – 11 — Results from derecognition of assets — 1 2,141 (100) (100) Net income from financial instruments 50,311 144,753 75,882 (65) (34) The result for the difference in the price of gold and foreign currency for the quarter was a profit of Ps.11,729 million, Ps.8,411 million (253%) higher than the profit of Ps.3,318 million registered in the same quarter of the previous year. This result includes a gain of Ps.1,901 million from the purchase and sale of foreign currency. The net result of financial instruments was Ps.50,311 million, Ps.25,571 million lower than the Ps.75,882 million recorded in the same quarter of 2022. This decrease was a consequence of the change in the valuation model of the instruments issued by the Argentine Central Bank that were acquired as of January 1, 2023. This went from being measured at fair value to amortized cost, which represented a decrease of Ps.22,000 million (44%). 18 Gold and foreign currency quotation differences Net income from financial instruments

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Other Operating Income In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Other financial income 440 78 374 464 18 Fees from bundles of products 5,201 4,520 5,255 15 (1) Rental of safe deposit boxes 1,097 1,300 1,406 (16) (22) Other fee income 1,306 939 940 39 39 Other adjustments and interest on miscellaneous receivables 15,651 15,863 5,937 (1) 164 Other 3,052 1,931 3,892 58 (22) Total other operating income 26,747 24,631 17,804 9 50 In the first quarter, other operating income amounted to Ps.26,747 million, registering an increase of Ps.8,943 million (50%) compared to those registered in the same quarter of 2022. This higher result was mainly due to the increase in other adjustments and interest on miscellaneous receivables for Ps.9,714 million (164%), as a consequence of the valuation of titles in guarantee. Loan loss provisions for the quarter totaled Ps.9,072 million, Ps.4,355 million (92%) higher than those made in the same quarter of the previous year. This increase was the consequence of higher delinquencies. 19 Loan-loss provisions Other operating income

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Administrative Expenses In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Fees and compensations for services 515 2,682 870 (81) (41) Fees to directors and syndics 52 32 47 63 11 Publicity, promotion and research expenses 991 853 709 16 40 Taxes 3,755 4,088 4,151 (8) (10) Maintenance and repairment of goods and IT 4,059 3,466 4,762 17 (15) Electricity and communications 994 1,123 1,093 (11) (9) Representation expenses — (1) 4 (100) (100) Stationery and office supplies 51 681 47 (93) 9 Hired administrative services 3,677 3,911 4,104 (6) (10) Security 560 527 513 6 9 Insurance 220 192 304 15 (28) Other 3,321 3,598 3,023 (8) 10 Total administrative expenses 18,195 21,152 19,627 (14) (7) Administrative expenses for the quarter reached Ps.18,195 million, registering a decrease of Ps.1,432 million compared to the first quarter of the previous year. This decrease in administrative expenses was a consequence of lower expenses for maintenance and repairment of goods and IT for Ps.703 million (15%) and for hired administrative services for Ps.427 million (10%). Personnel expenses reached Ps.21,605 million, registering an increase of Ps.3,862 million (22%) compared to the same quarter of 2022, as a result of the impact of salary increase agreements, as well as the 4% increase in staff. 20 Administrative expenses Personnel expenses

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Other Operating Expenses In millions of pesos , except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Contribution to the Deposit Insurance Fund 920 873 930 5 (1) Other financial results — 781 — (100) — Turnover tax 22,357 25,384 14,489 (12) 54 On financial income 15,263 17,341 9,927 (12) 54 On fees 6,265 7,104 4,029 (12) 55 On other items 829 939 533 (12) 56 Other fee-related expenses 8,353 5,072 5,244 65 59 Charges for other provisions 793 3,693 564 (79) 41 Claims 571 552 292 3 96 Other 845 779 749 8 13 Total other operating expenses 33,839 37,134 22,268 (9) 52 Other operating expenses for the quarter reached Ps.33,839 million, which represented an increase of Ps.11,571 million (52%), compared to the Ps.22,268 million recorded in the first quarter of the previous year. This increase was mainly generated by: • higher expenses for turnover tax for Ps.7,868 million (54%), due to an increase in the gross income tax from financial operations, as a consequence of the increase in the holding of Leliqs. • higher charges for other provisions for Ps.3,109 million (59%), increase in discounts on credit cards and payroll accounts. The result for depreciation and devaluation of assets reached Ps.6,499 million, registering an increase of 2% compared to the same quarter of 2022. 21 Other operating expenses Depreciation and devaluation of assets

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima The income tax charge was Ps.6,019 million, Ps.801 million lower than in the first quarter of 2022. 22 In the first quarter of 2023, Galicia records a loss of Ps.1 million in other comprehensive income (OCI). In the same quarter of fiscal year 2022, there was a total profit of Ps.108 million, generated by securities valued at fair value with changes in other comprehensive income (Bote). Other comprehensive income Income tax

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Balance Sheet In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Assets Cash and due from banks 484,731 528,603 582,531 (8) (17) Debt securities 55,325 963,641 622,931 (94) (91) Net loans and other financing 1,104,924 1,166,113 1,276,275 (5) (13) Other financial assets 1,453,889 736,325 607,758 97 139 Equity investments in subsidiaries, associates and joint businesses 1,885 1,738 1,710 8 10 Property, bank premises, equipment 125,393 126,229 127,397 (1) (2) Intangible assets 41,019 42,028 44,800 (2) (8) Other assets 19,466 18,269 16,250 7 20 Assets available for sale 2 1 80 100 (98) Total assets 3,286,634 3,582,947 3,279,732 (8) — Liabilities Deposits 2,264,534 2,583,533 2,317,370 (12) (2) Financing from financial entities 10,452 12,767 17,614 (18) (41) Other financial liabilities 214,894 188,416 160,401 14 34 Negotiable obligations 6,816 15,074 25,282 (55) (73) Subordinated negotiable obligations 52,528 55,273 56,843 (5) (8) Other liabilities 186,370 116,883 135,975 59 37 Total liabilities 2,735,594 2,971,946 2,713,485 (8) 1 Shareholders' equity 551,040 611,001 566,247 (10) (3) Foreign currency assets and liabilities Assets 648,463 679,038 556,453 (5) 17 Liabilities 536,878 568,074 544,753 (5) (1) Net forward purchases/(sales) of foreign currency (1) (7,720) (36,527) (14,820) (79) (48) Net global position in foreign currency 103,865 74,437 (3,120) 40 3,429 (1) Recorded off-balance sheet. 23 Selected financial information

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Financing to the Private Sector(1) In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 In pesos 1,097,954 1,153,994 1,272,499 (5) (14) Loans 991,468 1,036,967 1,161,581 (4) (15) UVA-adjusted loans 68,166 71,375 77,937 (4) (13) Financial leases 3,866 3,617 689 7 461 Other financing(2) 34,454 42,035 32,292 (18) 7 In foreign currency 162,353 160,672 112,024 1 45 Loans 66,833 81,202 87,021 (18) (23) Financial leases 524 713 1,513 (27) (65) Other financing(2) 94,996 78,757 23,490 21 304 Total financing to the private sector 1,260,307 1,314,666 1,384,523 (4) (9) (1) Includes IFRS adjustments. (2) Includes certain off-balance sheet accounts related to guarantees granted. 24 As of March 31, 2023, financing to the private sector reached Ps.1,260,307 million, registering a 9% decrease compared to the same period of the previous year. This drop is mainly due to decreases in loans in pesos for Ps.170,113 million (15%) and in foreign currency for Ps.20,188 million (23%), offset by an increase in other financing in foreign currency for Ps.71,506 million (304%). The market share of total loans to the private sector as of March 31, 2023 reached 11.69%, which represents a decrease of 39 bp compared to the first quarter of 2022. Financing Level of activity

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Breakdown of loans and other financing In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Financial entities 8,525 16,639 18,064 (49) (53) Loans 8,524 16,634 18,046 (49) (53) Other financing 1 5 18 (80) (94) Non-financial private sector and residents abroad 1,142,127 1,199,178 1,330,589 (5) (14) Loans 1,117,943 1,172,910 1,308,493 (5) (15) Overdrafts 101,722 107,283 90,975 (5) 12 Promissory notes 380,801 390,268 488,549 (2) (22) Mortgage loans 20,070 23,617 37,752 (15) (47) Pledge loans 27,147 31,179 35,450 (13) (23) Personal loans 112,766 110,649 125,689 2 (10) Credit-card loans 382,960 404,570 418,418 (5) (8) Pre-financing and financing of exports 13,296 16,832 28,170 (21) (53) Other Loans 17,361 30,018 11,461 (42) 51 Accrued interest, adjustments and foreign currency quotation differences receivable 67,534 65,038 75,588 4 (11) Documented interest (5,714) (6,544) (3,559) (13) 61 Financial leases 4,390 4,330 2,202 1 99 Other financing 19,794 21,938 19,894 (10) (1) Non-financial public sector 1,712 1,563 2 10 85,500 Total loans and other financing 1,152,364 1,217,380 1,348,655 (5) (15) Allowances (47,440) (51,267) (72,380) (7) (34) Loans (46,909) (50,747) (71,667) (8) (35) Financial leases (41) (35) (20) 17 105 Other financing (490) (485) (693) 1 (29) Net loans and other financing 1,104,924 1,166,113 1,276,275 (5) (13) As of March 31, 2023, the loan portfolio and other financing net of provisions reached Ps.1,104,924 million, registering a 13% decrease compared to the first quarter of the previous year. The main decreases in: • promissory notes for Ps.107,748 million (22%), • credit cards for Ps.35,458 million (8%) • pre-financing and financing of exports for Ps.14,874 million (53%). 25

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Net Exposure to the Argentine Public Sector(1) In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Government securities' net Position 1,180,770 1,448,064 1,066,224 (18) 11 Measured at fair value 35,453 957,210 624,673 (96) (94) Leliq — 876,670 454,384 (100) (100) Other 35,453 80,540 170,289 (56) (79) Measured at amortized cost 1,145,317 490,854 433,667 133 164 Botes 52,020 57,517 68,981 (10) (25) Lecer 65,867 333,706 364,686 (80) (82) Lediv 17,780 42,251 — (58) — Leliq 763,388 — — — — Bono Dual 94,028 38,551 — 144 — Other 152,234 18,829 — 709 — Measured at fair value through OCI — — 7,884 — (100) Botes — — 7,884 — (100) Other receivables resulting from financial brokerage 140,398 115,785 61,447 21 128 Repurchase agreement transactions -Argentine Central Bank 138,659 114,176 61,375 21 126 Loans and other financing 1,713 1,568 20 9 8,465 Trust certificates of participation and securities 26 41 52 (37) (50) Total exposure to the public sector 1,321,168 1,563,849 1,127,671 (16) 17 As of March 31, 2023, the net exposure to the public sector reached Ps.1,321,168 million, registering a 17% increase in the last twelve months, as a result of a greater holding of Leliq for Ps.309,004 million (68%). Excluding the instruments issued by the Argentine Central Bank (Leliq and Lediv) and the repurchase agreement transactions, the net exposure to the public sector was Ps.401,341 million, equivalent to 12% of total asset, while in the first quarter of 2022 said exposure was Ps.611,912. million, representing 19% of total asset. (1) Excludes deposits with the Argentine Central Bank, which constitutes one of the items by which the Bank complies with minimum cash requirements. 26 Exposure to the Argentine public sector

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Deposits In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 In pesos 1,830,354 2,123,289 1,884,154 (14) (3) Current accounts 366,964 362,062 458,521 1 (20) Saving accounts 222,552 279,816 257,980 (20) (14) Time deposits 952,605 953,990 855,459 — 11 UVA-adjusted time deposits 27,224 43,109 46,285 (37) (41) Other 211,878 426,268 238,114 (50) (11) Interests and adjustments 49,131 58,044 27,795 (15) 77 In foreign currency 434,180 460,244 433,216 (6) — Saving accounts 261,010 280,622 250,461 (7) 4 Time deposits 65,238 71,215 74,965 (8) (13) Other 107,821 108,283 107,647 — — Interests and adjustments 111 124 143 (10) (22) Total deposits 2,264,534 2,583,533 2,317,370 (12) (2) Deposits amounted to Ps.2,264,534 million as of March 31, 2023, registering a 2% decrease compared to the first quarter of the previous year. This decrease was the result of a lower volume of current accounts in pesos for Ps.91,557 million (20%) and a lower volume of saving accounts in pesos for Ps.35,428 million (14%), offset by a higher volume of time deposits in pesos for Ps.97,146 million (11%). 27 Total deposit accounts as of March 31, 2023 reached 7.0 million, with an increase of 11% compared to the same date of the previous year. The market share in private sector deposits reached 9.75% as of March 31, 2023, registering a decrease of 44 bp compared to the first quarter of 2022. Funding and liabilities

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Financial Liabilities In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Financial entities 10,452 12,767 17,614 (18) (41) Financing from credit-card purchases 77,185 81,623 74,301 (5) 4 Negotiable obligations 6,816 15,074 25,282 (55) (73) Subordinated negotiable obligations 52,528 55,273 56,843 (5) (8) Creditors from purchases of foreign currency 107 24,404 9,034 (100) (99) Collections on account of third parties 29,306 30,875 31,300 (5) (6) Other financial liabilities 108,296 51,514 45,766 110 137 Total financial liabilities 284,690 271,530 260,140 5 9 Financial liabilities amounted to Ps.284,690 million, registering an increase of Ps.24,550 million (9%) compared to the Ps.260,140 million registered in the first quarter of 2022. The variation was mainly due to an increase in other financial liabilities for Ps.62,530 million (137%), due to a decrease in creditors related to the purchase of public sector securities. This increase was offset by a decrease in negotiable obligations for Ps.18,466 million (73%). 28

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Liquidity Percentages, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Cash and due from banks 484,731 528,603 582,531 (8) (17) Government securities 603,969 747,335 523,636 (19) 15 Call-money 600 5,458 (405) (89) 248 Overnight placements in correspondent banks 14,679 30,131 9,277 (51) 58 Repurchase agreement transactions 145,048 127,466 57,127 14 154 Escrow accounts 41,077 48,723 36,111 (16) 14 Other financial assets 3,072 232 4,341 1,224 (29) Total liquid assets 1,293,176 1,487,948 1,212,618 (13) 7 Liquidity ratios (%) Variation (bp) Liquid assets as a percentage of transactional deposits 114.32 106.83 93.80 749 2,052 Liquid assets as a percentage of total deposits 57.11 57.59 52.33 (48) 478 As of March 31, 2023, the Bank’s liquid assets represented 114.32% of the Bank’s transactional deposits and 57.11% of its total deposits, as compared to 93.80% and 52.33%, respectively, as of March 31, 2022. 29 Liquidity

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Financing Portfolio Quality In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Non-accrual Financings 31,505 28,332 43,049 11 (27) With preferred guarantees 1,501 1,387 2,196 8 (32) With other guarantees 804 532 1,996 51 (60) Without guarantees 29,200 26,413 38,857 11 (25) Allowance for loan losses 58,598 64,121 77,582 (9) (24) Relevant ratios (%) Variation (bp) NPL Ratio 2.50 2.15 3.11 35 (61) Allowance for loan losses to loans to the private sector 4.64 4.87 5.60 (23) (96) Coverage 186.00 226.32 180.22 (4,032) 578 Non-accrual loans with guarantees to non-accrual financing 7.32 6.77 9.74 55 (242) Cost of risk 2.88 4.42 1.37 (154) 151 The non-accrual financing portfolio (that includes certain items of other financial assets and guarantees granted) amounted to Ps.31,505 million as of March 31, 2023, representing 2.50% of private-sector financing, recording a 61 bp decrease as compared to the 3.11% recorded in the same quarter of 2022. Considering the provisions on unused balances of credit cards and overdrafts, the Bank’s coverage of the non-accrual portfolio with total allowances for loan losses reached 186.00%, compared to 180.22% of a year before. 30 Assets quality

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Analysis of Loan Loss Experience In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Allowance for loan losses At the beginning of the quarter 64,121 61,795 89,508 4 (28) Changes in the allowance for loan losses Provisions charged to income 8,964 14,243 4,535 (37) 98 Charge offs (2,092) (207) (3,906) 911 (46) Inflation effect (12,395) (11,710) (12,555) 6 (1) Allowance for loan losses at the end of the quarter 58,598 64,121 77,582 (9) (24) Charge to the income statement Provisions charged to income (8,964) (14,243) (4,535) (37) 98 Direct charge offs (109) (148) (194) (27) (44) Bad debts recovered 1 983 802 (100) (100) Net charge to the income statement (9,072) (13,408) (3,927) (32) 131 During the quarter, Ps.2,092 million were charged off against the allowance for loan losses and direct charges to the income statement for Ps.109 million were made. 31

Grupo Galicia Galicia Naranja X Galicia Seguros Relevant information ESG Regulatory changes GlossaryFondos Fima Regulatory Capital In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Minimum capital required (A) 183,503 152,794 93,359 20 97 Allocated to credit risk 130,180 109,408 70,049 19 86 Allocated to market risk 9,731 6,642 1,172 47 730 Allocated to operational risk 43,592 36,744 22,138 19 97 Computable capital (B) 527,226 478,634 274,928 10 92 Tier I 484,747 442,495 243,763 10 99 Tier II 42,479 36,139 31,165 18 36 Excess over required capital (B) (A) 343,723 325,840 181,569 5 89 Risk weighted assets 2,246,390 1,870,089 1,141,478 20 97 Ratios (%) Variation (bp) Total capital ratio 23.47 25.59 24.09 (212) (62) Tier I capital ratio 21.58 23.66 21.36 (208) 22 The minimum capital requirement and the corresponding integration are presented below. Balances are disclosed in accordance with the applicable regulation valid and in currency of each period. As of March 31, 2023, the Bank’s computable capital amounted to Ps.527,226 million,and the minimum capital requirement for that same period was Ps.183,503 million, leaving an available margin of Ps.343,723 million (187%). This excess was Ps.181,569 million (194%) as of the same date in 2022. The minimum capital requirement increased Ps.90,144 million as compared to March 31, 2022, mainly due to the growth of the regulatory requirements on risk weighted assets. Computable capital increased Ps.252,298 million in the same period, primarily as consequence of the results generated during the quarter and to an increase of the accounting shareholders’ equity as a result of the inflation adjustment. The total capital ratio was 23.47%, decreasing 62 bp during the last twelve months and a decrease of 212 bp compared to December 31, 2022. This decrease was a consequence of the approval or dividends. 32 Capitalization

Grupo Galicia Galicia Seguros Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Fondos Fima Financial Report Naranja X is the fintech entity of Grupo Galicia that assists clients to promote the use of money. Naranja X creates technological solutions for the personal and business financials of millions of Argentines. Naranja X’s biggest challenge is being easily accessible to customers and providing them with simple tools to help them grow, improve their quality of life and access a world of possibilities

Grupo Galicia Galicia Seguros Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Fondos Fima 2,757 Employees 8,509 Credit cards in thousands 158 Branches and other points of sale 34 Ps.607 million Results for the quarter +4,958% vs. 1Q 2022 ROE 2.36% +231 bp vs. 1Q 2022 Efficiency ratio 70.15% +344 bp vs. 1Q 2022 Highlights

Grupo Galicia Galicia Seguros Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Fondos Fima Income Statement In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Net interest income 26,163 13,639 25,098 92 4 Net fee income 17,830 18,369 16,581 (3) 8 Net results from financial instruments 918 10,507 261 (91) 252 Gold and foreign currency quotation differences (126) (88) 141 43 (189) Other operating income 3,837 4,353 3,142 (12) 22 Loan loss provisions (5,991) (6,278) (6,644) (5) (10) Net operating income 42,631 40,502 38,579 5 11 Personnel expenses (7,019) (7,870) (7,377) (11) (5) Administrative expenses (7,028) (7,583) (6,646) (7) 6 Depreciations and devaluations of assets (1,016) (2,087) (1,211) (51) (16) Other operating expenses (9,975) (10,039) (10,493) (1) (5) Operating income 17,593 12,923 12,852 36 37 Results from the net monetary position (16,272) (9,764) (12,691) 67 28 Income tax (714) (2,898) (149) (75) 379 Net income 607 261 12 133 4,958 Other comprenhensive income 3 — — — — Total comprenhensive income 610 2,460 12 (75) 4,983 35 Results for the quarter In the first quarter, Naranja X registered a net income of Ps.607 million, Ps.595 million (4,958%) lower than the result recorded for the same period of the previous year, mainly as a result of a higher operating result for Ps.4,741 million (37%), offset by a greater negative result for the monetary position for Ps.3,581 million (28%). The operating result reached Ps.17,593 million, 37% higher than the Ps.12,852 million in the same quarter of 2022. The result for the quarter represented, on an annualized basis, an ROA of 0.47% and an ROE of 2.36%, while in the first quarter of 2022 they represented 0.01% and 0.05%, respectively. Net operating income for the quarter amounted to Ps.42,631 million, which meant an increase of 11% compared to the same quarter of 2022. This increase was the result of a higher net result from financial instruments for Ps.657 million (252%), offset by lower interest results for Ps.1,065 million (4%).

Grupo Galicia Galicia Seguros Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Fondos Fima 36 Profitability and efficiency Financial margin Efficiency ratio ROA ROE 0.47% 0.20% 0.01% 1Q 2023 4Q 2022 1Q 2022 2.36% 1.00% 0.05% 1Q 2023 4Q 2022 1Q 2022 22.81% 18.30% 21.33% 1Q 2023 4Q 2022 1Q 2022 70.15% 66.89% 66.72% 1Q 2023 4Q 2022 1Q 2022

Grupo Galicia Galicia Seguros Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Fondos Fima Balance Sheet In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Assets Cash and due from banks 5,634 8,068 7,524 (30) (25) Debt securities 1,112 245 3,882 354 (71) Net loans and other financing 374,609 402,849 409,147 (7) (8) Other financial assets 91,841 100,782 7,735 (9) 1,087 Property, bank premises, equipment 14,458 14,620 14,771 (1) (2) Intangible assets 3,978 4,022 5,060 (1) (21) Other non-financial assets 10,159 15,242 12,748 (33) (20) Total assets 501,791 545,828 460,867 (8) 9 Liabilities Deposits 35,850 32,835 1,690 9 2,021 Financing from financial entities 51,144 73,063 70,676 (30) (28) Other financial liabilities 217,535 241,409 205,420 (10) 6 Negotiable obligations 70,713 72,237 48,937 (2) 44 Other non-financial liabilities 20,906 21,251 31,554 (2) (34) Total liabilities 396,148 440,795 358,277 (10) 11 Shareholders' equity 105,643 105,033 102,590 1 3 37 Selected financial information

Grupo Galicia Galicia Seguros Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Fondos Fima Loan Portfolio Quality Percentages, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Non-accrual loans 14,718 14,422 14,462 2 2 Allowances for loan losses and provisions 20,065 20,047 24,285 — (17) Ratios (%) Variation (bp) NPL Ratio 3.78 3.46 3.37 32 41 Allowance for loan losses to loans to the private sector 5.15 4.81 5.66 35 (50) Coverage 136.33 139.01 167.92 (268) (3,159) Cost of risk 6.43 6.12 6.46 31 (3) As of March 31, 2023, taking into consideration the provisions for unused credit-card balances, the coverage ratio amounted to 136.33%, compared to 167.92% on the same date of the previous year. 38 Assets quality

Grupo Galicia Galicia Seguros Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Fondos Fima Analysis of Loan Loss Experience In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Allowances for loan losses At the beginning of the quarter 20,047 19,239 22,845 4 (12) Changes in the allowance for loan losses Provisions charged to income 5,525 5,682 5,557 (3) (1) Reversals of allowances for loan losses (747) (676) (607) 11 23 Charge off (835) (1,163) (114) (28) 632 Effect of inflation (3,925) (3,035) (3,396) 29 16 Allowance for loan losses at the end of the quarter 20,065 20,047 24,285 — (17) Charge to the income statement Provisions charged to income (5,525) (5,682) (5,557) (3) (1) Direct charge offs (466) (595) (1,087) (22) (57) Bad debt recovered 252 307 227 (18) 11 Net charge to the income statement (5,739) (5,970) (6,417) (4) (11) 39

Grupo Galicia Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Galicia Seguros Fondos Fima Financial Report Galicia Seguros' commercial activity began in 1996 as a member of Grupo Galicia. Today it is a leader in home, theft, and personal accident insurance.

Grupo Galicia Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Galicia Seguros Fondos Fima 349 2,647 Employees Polices In thousands 41 Clients In thousands Ps.797 million Net income for the quarter +45% vs. 1Q 2022 ROE 51.07% +1,508 bp vs. 1Q 2022 Combined Ratio 85.99% +128 bp vs. 1Q 2022 1,905 Highlights

Grupo Galicia Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Galicia Seguros Fondos Fima Income Statement In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Earned premium 6,634 6,774 6,991 (2) (5) Incurred claims (1,187) (1,114) (1,312) 7 (10) Withdrawals (10) (40) (6) (75) 67 Life annuities (9) (8) (10) 13 (10) Acquisition and general expenses (2,910) (2,830) (2,913) 3 — Other income and expenses (94) (73) (27) 29 248 Underwriting income 2,424 2,709 2,723 (11) (11) Interest income 2,201 2,313 2,431 (5) (9) Net results from financial instruments (1,006) (764) (1,922) 32 (48) Gold and foreign currency quotation differences 26 3 22 767 18 Other operating income 254 185 131 37 94 Net operating income 3,899 4,446 3,385 (12) 15 Personnel expenses (948) (1,412) (1,071) (33) (11) Administrative expenses (402) (620) (380) (35) 6 Depreciations and devaluations of assets (147) (124) (206) 19 (29) Other operating expenses (12) (12) (2) — 500 Operating income 2,390 2,278 1,726 5 38 Results from the net monetary position (1,024) (747) (514) 37 99 Income tax (569) (754) (664) (25) (14) Net income 797 777 548 3 45 Other comprehensive income (11) (3) 73 (267) (115) Total comprehensive income 786 774 621 2 27 42 Results for the quarter

Grupo Galicia Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Galicia Seguros Fondos Fima 43 Profitability and efficiency Combined ratio Efficiency ratio ROA ROE 19.51% 17.66% 12.57% 1Q 2023 4Q 2022 1Q 2022 51.07% 50.22% 35.99% 1Q 2023 4Q 2022 1Q 2022 85.99% 91.77% 84.71% 1Q 2023 4Q 2022 1Q 2022 76.18% 76.49% 79.10% 1Q 2023 4Q 2022 1Q 2022

Grupo Galicia Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Galicia Seguros Fondos Fima Balance Sheet In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Assets Cash and due from banks 73 16 45 356 62 Debt securities 172 141 151 22 14 Net loans and other financing — 7 18 (100) (100) Other financial assets 7,054 8,712 6,139 (19) 15 Property, bank premises, equipment 319 504 2,133 (37) (85) Intangible assets 395 90 208 339 90 Assets for insurance contracts — 6,004 6,828 (100) (100) Other non-financial assets 7,219 1,184 299 510 2,314 Total assets 15,232 16,658 15,821 (9) (4) Liabilities Financing received from financial institutions — — 233 — (100) Liabilities for insurance contracts — 6,225 7,512 (100) (100) Other non-financial liabilities 9,586 4,055 2,409 136 298 Total liabilities 9,586 10,280 10,154 (7) (6) Shareholders' equity 5,646 6,378 5,667 (11) — 44 Selected financial information

Financial Report Grupo Galicia Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Galicia Seguros Fondos Fima Since 1958, Fondos Fima has been managing mutual funds, distributed by Galicia through its multiple channels and other agents.

Grupo Galicia Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Galicia Seguros Fondos Fima Ps.926 +2% vs. 1Q 2022 Assets under management In billions 12.6% Market share +100 bp vs. 1Q 2022 28 Employees 46 Assets under management 14 Ps.2,222 million Net income for the quarter +40% vs. 1Q 2022 Highlights

Grupo Galicia Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Galicia Seguros Fondos Fima Income Statement In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Net interest income 122 67 41 82 198 Net results from financial instruments 1,378 917 527 50 161 Gold and foreign currency quotation differences 5 6 2 (17) 150 Other operating income 4,648 3,994 3,162 16 47 Net operating income 6,153 4,984 3,732 23 65 Personnel and administrative expenses (309) (356) (340) (13) (9) Other operating expenses (335) (275) (199) 22 68 Operating income 5,509 4,353 3,193 27 73 Results from the net monetary position (1,006) (739) (770) 36 31 Income tax (2,281) (1,722) (840) 32 172 Net income 2,222 1,892 1,583 17 40 47 Results for the quarter

Grupo Galicia Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Galicia Seguros Fondos Fima Mutual fund In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Fima Premium 735,475 758,715 632,492 (3) 16 Fima Ahorro Pesos 42,707 34,554 61,156 24 (30) Fima Ahorro Plus 72,748 62,983 85,946 16 (15) Fima Capital Plus 26,552 39,189 33,078 (32) (20) Fima Renta en Pesos 21,659 23,216 43,119 (7) (50) Fima Renta Plus 10,656 10,109 40,201 5 (73) Fima Abierto Pymes 1,884 1,751 2,423 8 (22) Fima Acciones 4,938 4,642 2,874 6 72 Fima PB Acciones 3,548 3,143 2,456 13 44 Fima Mix I 3,089 3,294 4,905 (6) (37) Fima Mix II 476 172 — 177 — Fima Renta Acciones Latinoamerica 129 135 184 (4) (30) Fima Renta Fija Internacional 1,306 1,388 1,689 (6) (23) Fima Sustentable ESG 584 336 — 74 — Total assets under management 925,751 943,627 910,523 (2) 2 48 Assets under management

Grupo Galicia Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Galicia Seguros Fondos Fima Balance Sheet In millions of pesos, except otherwise noted 2023 2022 Variation (%) 1Q 4Q 1Q vs. 4Q22 vs. 1Q22 Assets Cash and due from banks 1,717 1,416 1,201 21 43 Debt securities 166 — — — — Net loans and other financing — 1,284 — (100) — Other financial assets 6,159 6,183 4,118 — 50 Other non-financial assets — — 3 — (100) Total assets 8,042 8,883 5,322 (9) 51 Liabilities Other non-financial liabilities 4,578 3,216 2,497 42 83 Total liabilities 4,578 3,216 2,497 42 83 Shareholders' equity 3,464 5,667 2,825 (39) 23 49 Selected financial information

Grupo Galicia Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Galicia Seguros Fondos Fima On April 27, 2023, Naranja X issued the Class LVIII Negotiable Obligations for Ps.12.215 million, maturing in 12 months and with a rate of Badlar +5.0%. 50 Relevant information Negotiable obligations Dividends On April 25, 2023, at the Ordinary Shareholders' Meeting of Grupo Galicia, the payment of cash dividends for Ps.35,000 million was approved, which represents Ps.23.73 per share. Their payment was made on May 9, 2023.

Grupo Galicia Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Galicia Seguros Fondos Fima Annual Report - ESG Integrated Report Grupo Galicia published its Integrated ESG 2022 Report that reflects the progress of its Environmental, Social and Governance agenda. This document allows you to capture a value creation model for the entire Group within the framework of sustainable management, linking financial results with social-environmental impacts. In 2022, with the aim of continuing to promote its contribution to sustainable development, it deepened the double materiality exercise, understanding the context in which it carries out its businesses (material issues) and the impact they generate in the country. In addition, it used as a cover, a digital work of art created through the use of blockchain technology that expresses the Group's identity as a leader in sustainability, innovation and agility. ESG Sustainable financing lines Banco Galicia launched two lines of sustainable financing: • Sustainable financing line for SMEs that carry out a business with a social, economic and environmental impact. • Diversity Line together with Resiliencia SGR for companies that promote diversity in the 5 axes (gender, disability, sexual diversity, employment generation and socioeconomic vulnerability). Pro Mujer Negotiable Obligation In February 2023, Pro Mujer issued the Negotiable Obligation in the amount of Ps.200 million, with a maturity of 12 months and guaranteed by a pool of leading banks in Argentina, including Banco Galicia. This issuance is the first gender bond issued in the country under the recently implemented Regimen Simplificado (“Simplified Regime”) for the issuance of bonds with social impact. Pampa Energía Negotiable Obligation In May 2023, Pampa Energía issued two notes, class 16 and class 17 for a total of US$82.7 million. The ON class 16 in dollars at a fixed rate of 4.99% in order to improve its maturity profile and the ON class 17, the second green bond in pesos issued by Pampa, with a variable interest rate Badlar +2% maturing in May 2024 for Ps.5,980 million (equivalent to approximately US$27 million) to finance the construction of the Parque Eólico Pampa Energía VI. Banco Galicia was one of the placement agents. 51

Grupo Galicia Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Galicia Seguros Fondos Fima 52 Communication "A" 7719 - Distribution of results. The Argentine Central Bank, through Communication “A” 7719, repealed the suspension of the distribution of results of financial institutions, effective as from April 1, 2023. Additionally, it allows financial institutions to distribute profits in 6 equal, monthly and consecutive installments for up to 40% of the amount established in the dividend distribution rules. Communication "A" 7720 - Productive line. The Argentine Central Bank, through Communication “A” 7720, incorporates as from April 1, 2023 and until September 30, 2023 the 2023 quota of the "Linea de financiamiento para la inversión productiva MiPyME". Communication "A" 7767 - Interest rates. The Argentine Central Bank, through Communication "A" 7767, provides for an increase in the interest rates as from May 16, 2023 of the following deposits: • Time deposits of individuals: 97% TNA (154% of TEA). • Time deposits not included in the previous point: 90% TNA (138% of TEA). • Deposits with early cancellation option in UVA: 91.80% or 93.80% TNA according to certain conditions. • Productive line: for investment projects the rate is 76% and for working capital 88% TNA. Regulatory changes

Grupo Galicia Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Galicia Seguros Fondos Fima Combined ratio: (acquisition and general expenses + personnel expenses + administrative expenses + depreciations and devaluations of assets + incurred claims + other income and expenses) / (earned premiums + withdrawals + life annuities). Cost of risk: (loan-loss provisions + loan-loss provisions on unused balances of credit-cards and overdrafts, and on guarantees granted) / average financing. Coverage: (allowance for loan losses + provisions for unused balances of credit-cards and overdrafts and guarantees granted) / non-accrual financing. Digital customers: number of customers with login in digital channels in the last 30 days. Financial margin: (net interest income + net result from financial instruments + foreign currency quotation differences + underwriting income from insurance business + certain items included in other operating income -other financial income- and expenses -contribution to the deposit insurance fund, other financial expenses and turnover tax on financial income-) / average balance of interest- earning assets. Non-accrual portfolio: includes loans classified under the following categories of the Argentine Central Bank classification: With Problems and Medium Risk, High Risk of Insolvency and High Risk and Uncollectible. NPL ratio: non-accrual portfolio / total financing. ROA: net income attributable to the company on average assets. ROE: net income attributable to the company on average shareholders’ equity. 53 Glossary and additional information Efficiency ratio: (personnel expenses + administrative expenses + depreciation and devaluations of assets) / (divided by net interest income plus net fee income + net result from financial instruments + foreign currency quotation differences + insurance premiums earned + certain items included in other operating income -other financial income, fees from bundles of products, rental of safe deposits boxes and other fee income- and expenses -contribution to the deposit insurance fund, other financial expenses, other fee- related expenses and turnover tax on financial income and fees- + result from the net monetary position).

Grupo Galicia Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Galicia Seguros Fondos Fima Inflation, exchange rate and interest rates 2023 2022 1Q 4Q 3Q 2Q 1Q Consumer price index (IPC) (1) 1,381.1601 1,134.5875 967.3076 793.0278 676.0566 Consumer price index (IPC) (%) 21.73 17.29 21.98 17.30 16.07 Wholesale price index (IPIM) (%) (2) 19.73 18.21 22.19 16.75 15.52 Acquisition value unit (UVA) (3) 218.27 185.03 154.72 129.08 108.9 Exchange rate (Ps./US$) (4) 208.99 177.13 147.32 125.22 110.98 Badlar (5) (quartely averages) 70.09 69.18 59.37 45.71 38.6 (1) Published by the INDEC (National Institute of Statistics) (2) Internal Wholesale Price Index. Source: INDEC (National Institute of Statistics and Censuses of the Argentine Republic). (3) Private banks’ 30-day time deposits rate for amounts over Ps.1 million. (4) Argentine Central Bank reference exchange rate Communication “A” 3500. On the last business day of each period. (5) Argentine Central Bank reference rate for time deposits greater than one million pesos from private banks. 54

Grupo Galicia Relevant information ESG Regulatory changes GlossaryGalicia Naranja X Galicia Seguros Fondos Fima Contact us www.gfgsa.com +54 11 6329 4881 inversores@gfgsa.com asg@gfgsa.com web Phone e-mail