EECC Banco Patagonia S a 30 09 2015 ENG Ulitmoccbios

Translation from the original prepared in Spanish for publication in Argentina

Financial statements as of September 30, 2015 jointly with the Independent auditors’ report on review of interim financial statements and the Supervisory Audit Committee’s report.

Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2015

CONTENTS

Page

Independent Auditors’ Report on Review of Interim Financial Statements Cover page ...... 1 Statements of financial position ...... 2 Statements of income...... 7 Statements of changes in shareholders’ equity ...... 9 Statements of cash flows and cash equivalents ...... 10 Notes to the financial statements ...... 12 Exhibit A - Breakdown of government and corporate securities ...... 50 Exhibit B - Financing facilities classified by status and guarantees received ...... 52 Exhibit C - Financing-facilities concentration...... 54 Exhibit D - Financing facilities broken down by term...... 55 Exhibit E - Breakdown of investments in other companies ...... 56 Exhibit F - Changes in property, plant and equipment and miscellaneous assets ...... 58 Exhibit G - Breakdown of intangible assets ...... 59 Exhibit H - Deposits concentration ...... 60 Exhibit I - Breakdown by term of deposits and other liabilities from financial intermediation ...... 61 Exhibit J - Changes in allowances and provisions ...... 62 Exhibit K - Capital structure ...... 63 Exhibit L - Balances in foreign currency ...... 64 Exhibit N - Credit assistance to related parties ...... 65 Exhibit O - Derivative financial instruments ...... 66 Consolidated financial statements...... 67 Reporting Summary Supervisory Audit Committee’s Report

Translation from the original prepared in Spanish for publication in Argentina

INDEPENDENT AUDITORS’ REPORT ON REVIEW OF INTERIM FINANCIAL STATEMENTS

To the President and Directors of Banco Patagonia S.A. Registered office: Av. de Mayo 701, Floor 24 Taxpayer Identification No. [C.U.I.T.] 30-50000661-3 City of Buenos Aires Report on financial statements We have examined the accompanying interim financial statements of Banco Patagonia S.A. (“the Bank”), which include the statement of financial position as of September 30, 2015, the statements of income, changes in shareholders’ equity and cash flows for the nine-month period then ended, Notes 1 to 29, and Exhibits A, B, C, D, E, F, G, H, I, J, K, L, N, and O. We have also examined the accompanying consolidated financial statements of Banco Patagonia S.A. and its subsidiaries, which include the consolidated statement of financial position as of September 30, 2015, and the consolidated statements of income and cash flows and cash equivalents for the nine-month period then ended, Notes 1 to 9, and Exhibit 1, which are presented as supplementary information.

The figures and other information as of December 31, 2014 and for the nine-month period ended September 30, 2014 are an integral part of the financial statements mentioned above, and are presented for the purpose of being construed solely in relation to the figures and other information for the nine- month period ended September 30, 2015.

Board of Directors’ and Management responsibility for the financial statements

The Board of Directors and Management are responsible for the preparation and fair presentation of the accompanying interim financial statements in accordance with the accounting standards established by the Argentine Central Bank (“BCRA”), and for such internal control as the Board of Directors and Management determine is necessary to enable the preparation of financial statements that are free from material misstatement.

Auditors’ responsibility and scope of the review

Our responsibility is to express a conclusion on the accompanying interim financial statements based on our review. We conducted our review in accordance with the standards set forth by Technical Resolution No. 37 of the Argentine Federation of Professional Councils of Economic Sciences (FACPCE) and the “Minimum Standards applicable to External Audits” set forth by the BCRA for the review of interim financial statements. In accordance with such standards, a review is limited primarily to the performance of analytical and other review procedures applied to financial data included in the interim financial statements and inquiries of personnel responsible for the preparation thereof. A review is substantially less in scope than an audit conducted in accordance with auditing standards in force, and, consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion on the interim financial statements.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim financial statements de not present fairly, in all material respects, the financial position of the Bank as of September 30, 2015, the results of its operations, the changes in shareholders’ equity and cash flows and cash equivalents for the nine-month period then ended, in conformity with accounting standards established by the B.C.R.A.

Translation from the original prepared in Spanish for publication in Argentina

Emphasis paragraph

Without modifying our conclusion, we draw users’ attention to the information presented in Note 3 to the accompanying stand-alone financial statements, where it is stated that such financial statements have been prepared by the Bank’s Board of Directors and Management in compliance with the accounting standards set forth by the BCRA, which differ in terms of certain valuation and presentation criteria from the professional accounting standards in force in the City of Buenos Aires, Argentina, described in Note 3.

Report on other legal and regulatory requirements

In compliance with legal provisions in force, we report that: 1. The accompanying interim financial statements have been transcribed into the Inventory Book, and arise from the Bank’s accounting records, which, in their formal aspects, are kept pursuant to the legal provisions in force. The information systems used to generate the information included in the financial statements are kept under the security and integrity conditions based on which they were duly authorized;

2. as of September 30, 2015, the Bank records the minimum shareholders’ equity and counterparty required by the Argentine Securities Commission (CNV), as mentioned in Note 16 to the stand-alone accompanying financial statements;

3. the accompanying consolidated financial statements have been prepared by the Bank’s Board of Directors and Management, in their significant aspects, in compliance with consolidation standards set forth by Communications “A” 2227 and 2349 of the BCRA, which are disclosed in notes 1 to 9 to such consolidated financial statements;

4. as of September 30, 2015, there is no evidence of noncompliance with the significant aspects of the monetary and technical regulations set forth by the BCRA in relation to information provided to the BCRA on consolidated bases;

5. we have reviewed the reporting summary required by CNV regulations for the financial statements as of September 30, 2015, based on which, as far as it relates to our area of responsibility, we have no observations; and

6. as of September 30, 2015, the accrued liability for retirement and pension contributions payable to the Argentine Pension Fund System arising from the accounting records of amounted to $ 33,340,928, no amounts being due as of that date.

City of Buenos Aires, November 9, 2015.

KPMG

Mauricio G. Eidelstein Partner

Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

Registered office:

Avenida de Mayo 701, Floor 24 – City of Buenos Aires – Argentina

Main business activity: commercial bank Taxpayer identification No. [C.U.I.T.] : 30 - 50000661 - 3

Incorporation date: May 4, 1928

Of the articles of incorporation: 09/18/1928 Date Registration with the Public Of the latest amendment: 12/07/2011 Registry of Commerce of the City of Buenos Aires Stock Corporations Book: 57 Book Number: 30.114

Expiry of articles of incorporation: August 29, 2038

Fiscal year No. 92

Beginning date: January 1, 2015 Closing date: December 31, 2015

Capital structure (Note 9 and Exhibit K)

In Argentine pesos Number and characteristics of shares Subscribed Paid in

719,264,737 registered, common shares, with a nominal 719,264,737 719,264,737 value of ARS 1, and entitled to one vote each Information required by the BCRA (Central Bank of Argentina)

Name of the undersigned auditor: Mauricio G. Eidelstein

Professional firm: KPMG

Report for the nine-month period ended September 30, 8 – (quarterly closing – Unqualified opinion) 2015

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with Signed for identification purposes with our report dated 11/09/2015 our report dated 11/09/2015 KPMG On behalf of Statutory Audit Committee C.P.C.E.C.A.B.A. T° 2 F° 6

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

STATEMENTS OF FINANCIAL POSITION AS OF 09/30/15 AND 12/31/14 (stated in thousands of pesos)

ASSETS 09/30/15 12/31/14

A. Cash and due from banks Cash on hand 1,904,175 1,964,627 Financial institutions and correspondents 5,034,248 4,395,445 BCRA 4,307,971 3,852,399 Others in Argentina 696 340 Others abroad 725,581 542,706 6,938,423 6,360,072

B. Government and private securities (Exhibit A) Holdings booked at fair market value 2,758,178 2,041,474 Government securities for repo transactions with BCRA - 102,182 Holdings booked at cost plus yield 117,414 84,624 Instruments issued by the BCRA 6,576,883 3,766,121 Investments in listed corporate securities 138 6,698 9,452 ,613 6,001 ,099

C. Loans To the nonfinancial government sector (Exhibits B, C and D) 168,784 171,823 To the financial sector (Exhibits B, C and D) 856,858 527,970 Interbank loans (call options sold) 228,000 43,000 Other financing facilities granted to local financial institutions 576,600 461,882 Accrued interest, adjustments and listed-price differences receivable 52,258 23,088 To the nonfinancial private sector and foreign residents (Exhibits B, C and D) 28,083,392 23,171,049 Overdrafts 5,736,789 4,692,979 Notes 13,068,261 10,104,004 Mortgage loans 33,327 41,595 Personal loans 3,657,547 3,192,498 Credit cards 4,445,593 3,479,382 Other 865,728 1,361,673 Accrued interest, adjustments and exchange differences receivable 374,739 377,052 (Documented interest) ( 98,592) ( 78,134) (Allowances) (Exhibit J) ( 1,174,484) ( 1,110,986) 27,934,550 22,759,856

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

STATEMENTS OF FINANCIAL POSITION AS OF 09/30/15 AND 12/31/14 (stated in thousands of pesos)

ASSETS – Continued 09/30/15 12/31/14

D. Other receivables from financial intermediation BCRA 749,534 507,565 Amounts receivable from spot sales to be settled and forward sales 989,729 188,548 Securities and foreign currency receivable from spot sales to be settled and forward sales 408,029 593,024 Unlisted corporate bonds (Exhibits B, C and D) 57,108 62,172 Unsettled amounts of forward transactions without delivery of underlying asset 74,387 180,943 Other not covered by debtor classification standards 81,850 56,754 Other covered by debtor classification standards (Exhibits B, C and D) 22,537 44,663 Accrued interest and adjustments receivable covered by Debtor Classification Standards (Exhibits B, C and D) 60 14 (Allowances) (Exhibit J) ( 4,883) ( 5,687) 2,378,351 1,627,996

E. Receivables from financial leases Receivables from financial leases (Exhibits B, C and D) 1,268,391 1,021,911 Accrued interest and adjustments receivable (Exhibits B, C and D) 11,539 9,740 (Allowances) (Exhibit J) ( 20,128) ( 14,470) 1,259,802 1,017,181

F. Investments in other companies (Exhibit E) In financial institutions 838,790 670,568 Other 89,322 63,363 (Negative goodwill) - ( 7,459) 928,112 726,472

G. Miscellaneous receivables Sale of fixed assets (Exhibits B, C and D) - 17,823 Other (Note 5) 565,515 432,122 Accrued interest and adjustments receivable related to sale of fixed assets - 1,704 (Exhibits B, C and D) Other accrued interest and adjustments receivable 239 287 (Allowances) (Exhibit J) ( 8,868) ( 7,674) 556 ,886 444 ,262

H. Property, plant and equipment (Exhibit F) 340,271 254,381

I. Miscellaneous assets (Exhibit F) 168,388 102,263

J. Intangible assets (Exhibit G) Organization and development expenses 20,808 29,572 20,808 29,572

K. Items pending allocation 7,947 9,305

TOTAL ASSETS 49,986,151 39,332,459

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

3 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

STATEMENTS OF FINANCIAL POSITION AS OF 09/30/15 AND 12/31/14 (Stated in thousands of pesos)

LIABILITIES 09/30/15 12/31/14

L. Deposits (Exhibits H and I) Nonfinancial government sector 2,626,142 2,991,496 Financial sector 9,991 180,183 Nonfinancial private sector and foreign residents 31,719,857 24,294,992 Checking accounts 6,014,986 5,206,725 Savings accounts 7,773,690 6,448,086 Time deposits 16,266,553 11,658,486 Investment accounts 350,615 1,688 Other 905,646 791,532 Accrued interest, adjustments and listed-price differences payable 408,367 188,475 34,355,990 27,466,671

M. Other liabilities from financial intermediation BCRA (Exhibit I) 22,319 29,517 Banks and international organizations (Exhibit I) 2,085,228 679,515 Unsubordinated corporate bonds (Note 10) (Exhibit I) 332,200 300,000 Amounts payable for spot purchases to be settled and forward purchases 392,296 549,089 Securities and foreign currency to be delivered for spot sales to be settled and forward sales 1,055,135 189,476 Financing facilities received from local financial institutions (Exhibit I) 107,114 271,397 Interbank loans 87,000 271,000 Other financing facilities received from local financial institutions 20,000 - Accrued interest payable 114 397 Unsettled amounts of forward transactions without delivery of underlying asset 220 - Other (Exhibit I) (Note 5) 2,342,510 2,253,103 Accrued interest, adjustments and listed-price differences payable (Exhibit I) 32,783 17,135 6,369 ,805 4,289 ,232

N. Miscellaneous liabilities Dividends payable (Note 18) 1,044,608 - Fees 2,883 10,657 Other (Note 5) 1,172,431 1,149,206 2,219 ,922 1,159 ,863

O. Provisions (Exhibit J) (Note 7) 90,196 92,349

Q. Items pending allocation 4,372 3,748

TOTAL LIABILITIES 43,040,285 33,011,863

SHAREHOLDERS’ EQUITY (as per related statements) 6,945,866 6,320,596

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 49,986,151 39,332,459

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

4 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

STATEMENTS OF FINANCIAL POSITION AS OF 09/30/15 AND 12/31/14 (Stated in thousands of pesos)

MEMORANDUM ACCOUNTS 09/30/15 12/31/14

DEBIT BALANCE

Contingent Loans obtained (unused amounts) 115,948 103,394 Guarantees received 11,231,440 12,215,877 Other not covered by debtor classification standards 558 558 Contingent debit-balance contra accounts 1,826,724 1,529,905 13,174,670 13,849,734

Control Receivables classified as irrecoverable 549,677 441,865 Other (Note 5) 24,639,954 13,163,159 Control debit-balance contra accounts 3,520,863 3,369,828 28,710,494 16,974,852

Derivatives Notional value of forward transactions without delivery of underlying asset 4,803,461 3,085,873 (Exhibit O and Note 12) Interest rate swap (Exhibit O and Note 12) 2,929 8,785 Derivative debit-balance contra accounts 4,161,749 3,094,456 8,968,139 6,189,114

Trust activity (Note 13) Trust funds 1,249,760 1,346,634 1,249,760 1,346,634

TOTAL DEBIT-BALANCE MEMORANDUM ACCOUNTS 52,103,063 38,360,334

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

5 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

STATEMENTS OF FINANCIAL POSITION AS OF 09/30/15 AND 12/31/14 (Stated in thousands of pesos)

MEMORANDUM ACCOUNTS – Continued 09/30/15 12/31/14

CREDIT BALANCE

Contingent Loans granted (unused amounts) covered by debtor classification standards (Exhibits B, C and D) 1,119,291 1,052,417 Other guarantees provided covered by debtors classification standards (Exhibits B, C and D) 93,016 69,409 Other guarantees provided not covered by debtors classification standards 81,279 55,812 Other covered by debtors classification standards (Exhibits B, C and D) 306,350 168,133 Other not covered by debtor classification standards 226,788 184,134 Contingent credit-balance contra accounts 11,347,946 12,319,829 13,174,670 13,849,734

Control Checks and securities to be credited 660,630 734,925 Other 2,860,233 2,634,903 Control credit-balance contra accounts 25,189,631 13,605,024 28,710,494 16,974,852

Derivatives Notional value of forward transactions without delivery of underlying asset (Exhibit O and Note 12) 4,161,749 3,094,456 Derivatives credit-balance contra accounts 4,806,390 3,094,658 8,968,139 6,189,114

Trust activity Trust activity credit-balance contra accounts 1,249,760 1,346,634 1,249 ,760 1,346 ,634

TOTAL CREDIT BALANCE MEMORANDUM ACCOUNTS 52,103,063 38,360,334

The accompanying notes 1 to 29, exhibits A to L, N and O are an integral part of these financial statements.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

6 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

STATEMENTS OF INCOME For the nine-month period ended 09/30/15 and 09/30/14 (Stated in thousands of pesos)

BREAKDOWN 09/30/15 09/30/14

A. FINANCIAL INCOME Interest on loans to the financial sector 148,695 125,184 Interest on overdrafts 1,122,896 1,078,866 Interest on notes 1,634,761 1,441,157 Interest on mortgage loans 3,646 4,884 Interest on car loans - 1 Interest on credit card loans 720,329 470,024 Interest on other loans 1,044,318 885,566 Interest on other receivables from financial intermediation 616 1,552 Interest on financial leases 160,287 125,386 Net income from government and corporate securities 1,783,683 920,712 Income from secured loans – Presidential Decree No. 1,387/01 361 66 Adjustments under CER clause 2,021 4,373 Gold and foreign currency quoted price difference 202,918 528,253 Other 171,260 602,222 6,995,791 6,188,246 B. FINANCIAL EXPENSE Interest on savings-account deposits 2,486 1,933 Interest on time deposits 2,535,347 2,189,162 Interest on interbank loans received (call options received) 18,101 4,907 Interest on other financing facilities from financial institutions 19,119 4,781 Interest on other liabilities from financial intermediation 53,775 97,760 Other interest 81,927 20,683 Adjustments under CER clause 29 86 Contribution to the deposit guarantee fund (Note 15) 157,219 31,257 Other 348,320 335,270 3,216,323 2,685,839

GROSS INTERMEDIATION MARGIN 3,779,468 3,502,407

C. CHARGE FOR LOAN LOSSES (Exhibit J) 324 ,572 227 ,707

D. SERVICE-CHARGE INCOME Related to lending transactions 501,235 354,846 Related to borrowing transactions 745,115 601,045 Other fees 84,067 63,340 Other (Note 5) 374,104 283,238 1,704,521 1,302,469

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

7 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

STATEMENTS OF INCOME For the nine-month period ended 09/30/15 and 09/30/14 (Stated in thousands of pesos)

BREAKDOWN - Continued 09/30/15 09/30/14

E. SERVICE -CHARGE EXPENSE Fees 112,088 97,421 Other (Note 5) 382,386 279,609 494,474 377,030

G. ADMINISTRATIVE EXPENSES Personnel expenses 1,493,927 1,070,455 Directors’ and supervisory auditors’ fees 36,078 18,460 Other professional fees 50,648 36,134 Advertising 63,422 38,218 Taxes 168,645 116,031 Depreciation of property, pl ant and equipment (Exhibit F) 27 ,460 20 ,240 Organization expenses amortization (Exhibit G) 9,792 9,263 Other operating expenses 359,416 261,540 Other 200,752 149,974 2,410,140 1,720,315

NET INCOME (LOSS) FROM FINANCIAL INTER MEDIATION 2,254 ,803 2,479 ,824

I. OTHER EARNINGS Income from long-term investments 227,156 172,515 Punitive interest 8,653 9,667 Receivables recovered and allowances reversed 62,571 19,881 Other (Note 5) 77,699 62,716 376,079 264,779

J. OTHER EXPENSE Punitive interest and charges payable to the BCRA 9 21,818 Charge for uncollectibility of miscellaneous receivables, and other allowances (Exhibit J) 17,718 20,989 Losses and depreciation of miscellaneous assets (Exhibit F) 238 388 Other (Note 5) 29,412 43,843 47,377 87,038

NET INCOME BEFORE INCOME TAX 2,583,505 2,657,565

L. INCOME TAX (Note 1.6.s) 913,627 935,205

NET INCOME FOR THE PERIOD 1,669,878 1,722,360

The accompanying notes 1 to 29, exhibits A to L, N and O are an integral part of these financial statements.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

8 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY For the nine-month period ended 09/30/15 and 09/30/14 (Stated in thousands of pesos)

Non- Appropriated retained Unappropri capitalized Capital stock earnings ated Total as of Total as of Changes contributions (1) retained 09/30/15 09/30/14 Additional earnings paid-in capital Legal Optional (2)

Balances at beginning of year 719,265 217,191 971,688 2,234,337 2,178,115 6,320,596 4,596,471

Distribution of unappropriated retained earnings approved by the Annual General Shareholders’ Meeting held on 04/23/15

- Legal reserve - - 435,195 - ( 435,195) - -

- Optional reserve – Future - - - 698,312 ( 698,312) - - distribution of earnings

- Cash dividends - - - - (1,044,608) (1,044,608) ( 451,852)

Net income for the period - - - - 1,669,878 1,669,878 1,722,360

Balances at period-end 719,265 217,191 1,406,883 2,932,649 1,669,878 6,945,866 5,866,979

The accompanying notes 1 to 29, exhibits A to L, N and O are an integral part of these financial statements.

(1) See Note 9.1. (2) See Note 18.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

9 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

STATEMENTS OF CASH FLOWS AND CASH EQUIVALENTS For the nine-month period ended 09/30/15 and 09/30/14 (Stated in thousands of pesos)

Changes in cash and cash equivalents (Note 2) 09/30/15 09/30/14 Cash at beginning of year 6,360,072 5,758,004 Cash at end of period 6,938,423 5,222,161 Net increase / (Net decrease) in cash 578,351 ( 535,843)

Causes of changes in cash and cash equivalents

Operating activities

Net collections / (payments) for:

Government and private securities ( 642,854) (3,044,659)

Loans ( 598,038) 1,675,633 - To the financial sector ( 180,193) 22,360 - To the nonfinancial government sector 5,421 35,481 - To the nonfinancial private sector and foreign residents ( 423,266) 1,617,792

Other receivables from financial intermediation ( 651,164) 374,556

Receivables from financial leases ( 87,923) 166,105

Deposits 4,000,498 1,834,841 - From the financial sector ( 170,192) 490 - From the nonfinancial government sector ( 365,354) 440,517 - From the nonfinancial private sector and foreign residents 4,536,044 1,393,834

Other liabilities from financial intermediation ( 468,649) ( 132,115) - Financial sector or interbank loans (call options received) ( 202,384) ( 23,713) - Other (except for the obligations included under financing activities) ( 266,265) ( 108,402)

Collections related to service-charge income 1,705,676 1,356,944 Payments related to service-charge expense ( 494,921) ( 377,154) Administrative expenses paid (2,505,000) (1,858,606) Payment of organization and development expenses ( 1,028) ( 6,142) Net collections / (payments) for punitive interest 8,644 ( 12,151) Collection of dividends from other companies 35,298 34,935 Other payments related to other earnings and losses ( 72,601) ( 38,739) Net payments for other operating activities ( 342,040) ( 299,592) Income tax paid ( 787,112) ( 631,332)

Net cash flow used in operating activities ( 901 ,214) ( 957 ,476 )

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

10 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

STATEMENTS OF CASH FLOWS AND CASH EQUIVALENTS For the nine-month period ended 09/30/15 and 09/30/14 (Stated in thousands of pesos)

09/30/15 09/30/14 Investing activities

Net payments for property, plant and equipment ( 54,399) ( 24,337) Net payments for miscellaneous assets ( 91,198) ( 70,220) Collections from the purchase and sale of investments in other companies - 13,367

Net cash flow used in investing activities ( 145,597) ( 81,190)

Financing activities

Net collections / (payments) for: Unsubordinated Corporate Bonds ( 4,504) (288,427) Central Bank of Argentina ( 7,500) ( 7,500) Banks and International Organizations 1,387,831 387,125 Financing facilities received from local financial institutions 20,000 -

Payment of dividends - (451,852)

Net cash flows provided by / (used in) financing activities 1,395,827 (360,654)

Financial income (expense) and holding gains (losses) from cash and cash 229,335 863,477 equivalents (including interest and monetary gain (loss))

Net increase / ( Net decrease ) in cash 578 ,351 (535 ,843)

The accompanying notes 1 to 29, exhibits A to L, N and O are an integral part of these financial statements.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

11 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (Stated in thousands of pesos)

NOTE 1: Significant accounting policies

These financial statements have been prepared in conformity with the accounting standards established by the BCRA, and arise from the Bank’s accounting records, which are kept in accordance with effective legal requirements and regulations.

1.1 Consolidated financial statements

As required by BCRA standards, the Bank presents as supplementary information the consolidated financial statements with its subsidiaries GPAT Compañía Financiera S.A., Patagonia Valores S.A., Patagonia Inversora S.A. Sociedad Gerente de F.C.I. and Banco Patagonia (Uruguay) S.A. I.F.E.

1.2 Comparative information

Under BCRA standards, the Statement of Financial Position as of September 30, 2015, and the related exhibits are presented comparatively with the data as of the prior year-end, while the Statements of Income, Changes in Shareholders' Equity and Cash Flows and cash equivalents for the nine-month period ended September 30, 2015, are presented comparatively with those for the same period of the prior fiscal year.

1.3 Figures stated in thousands of Argentine pesos

The amounts disclosed in these financial statements are stated in thousands of Argentine pesos as required by BCRA standard “CONAU 1 - 111” (Communication “A” 3359).

1.4 Unit of measure

The Bank’s financial statements recognize the changes in the currency purchasing power through February 28, 2003, being discontinued from that date, as required by Presidential Decree No. 664/2003, CNV General Resolution No. 441 and BCRA Communication “A” 3921.

In addition, professional accounting standards in force in the City of Buenos Aires set forth that financial statements must be prepared by applying a homogeneous currency. The adjustment methodology as well as the need to make adjustments arise from the provisions of Technical Resolutions (TR) Nos. 6 and 17 of the Argentine Federation of Professional Councils of Economic Sciences (“FACPCE”), as amended by TR No. 39, issued by the FACPCE on October 4, 2013, and approved by the Professional Council of Economic Sciences of the City of Buenos Aires (CPCECABA) on April 16, 2014.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

12 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

To define an inflationary context, a quantitative guideline is established by these Technical Resolutions as a key indicator and a necessary condition to restate the financial statement amounts. Such quantitative guideline consists in verifying whether the three-year cumulative inflation rate, considering the Internal Wholesale Price Index (IPIM) prepared by the National Institute of Statistics and Census (INDEC), approaches or exceeds 100%. At period-end, the accumulated variation as per the IPIM in the last three years does not account for 100% and, therefore, these financial statements have not been restated for inflation.

However, the existence of significant variations as those noted in the most recent fiscal years in the prices of the relevant variables of the economy, such as the salary cost, the interest rates, and the exchange rates, which affect the Bank’s business, may also impact the Bank’s financial position, the results of operations and cash flows and, consequently, the information provided in its financial statements, even though the quantitative guideline provided for by TR 39 has not been met. Accordingly, such variations should be considered in the interpretation of these financial statements.

1.5 Use of accounting estimates

In preparing the financial statements, in certain cases the Bank’s Management is required to make estimates to determine the book value of assets and liabilities, as well as the exposure thereof, as of each date on which the financial information is presented.

The Bank’s bookings are based on the best estimate regarding the probability of occurrence of different future events and, therefore, the final amount may differ from such estimates, which may have a positive or negative impact on future periods.

1.6 Main valuation and disclosure criteria

The main valuation and disclosure criteria applied in the preparation of the financial statements as of September 30, 2015, and comparative figures (see note 1.2) are the following:

a) Assets and liabilities in foreign currency

Assets and liabilities denominated in US dollars have been valued at the benchmark exchange rate set by the BCRA through BCRA Communication “A” 3500 for the US dollar at the closing of operations of the last business day of each period or fiscal year, as the case may be. In addition, assets and liabilities denominated in other foreign currencies, different from the US dollar were converted at the exchange rates published by the BCRA at each fiscal year- or period-end, as the case may be. Foreign exchange differences were charged to income/loss for each period.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

13 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

b) Government and corporate securities

1. Holdings booked at fair market value and Government Securities for repo transactions with the BCRA

They were stated at the listed price prevailing on the Buenos Aires securities market or the Electronic Over-the-counter market (MAE), or current prices reported by the BCRA as of September 30, 2015, and December 31, 2014, plus the coupons pending collection. Listed-price and current price differences were charged to the statement of income for each period.

2. Holdings booked at cost plus yield

As of September 30, 2015, and December 31, 2014, they were stated at cost of addition, increased by the accrual of the internal rate of return, net of the offset account, as appropriate, and at the same time compared with the current values calculated by the Bank.

In accordance with the provisions of Communication "A" 5506, the Bank opted to state the Argentine Bond for Economic Development (BAADE ) at cost value, increased as per the internal yield rate. As of September 30, 2015, and December 31, 2014, such holdings were stated by following the same criteria. The accrual of the internal yield rate was charged to the statement of income for each period.

3. Instruments issued by the BCRA

a) Holdings with volatility published by the BCRA (own portfolio and tied to swap transactions): they were valued in accordance with the last current quoted price for each instrument as of September 30, 2015, and December 31, 2014. Quoted price differences were charged to the statement of income for each period.

b) Holdings without volatility published by the BCRA (own portfolio and tied to swap transactions): they were valued at addition cost (adjusted by the CER, as the case may be) increased based on the internal rate of return as of September 30, 2015, and December 31, 2014. The internal rate of return accruals mentioned above were charged to the statement of income for each period.

4. Investments in listed corporate securities

They were stated at market prices prevailing at the Buenos Aires securities market (MERVAL) as of September 30, 2015 and December 31, 2014. Price differences were charged to the statement of income for each period.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

14 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

c) Credit assistance to the nonfinancial government sector

Mainly including amounts actually disbursed but not yet collected plus adjustments, listed- price differences and interest accrued receivable as of each period or fiscal year, as the case may be.

d) Interest accrual

Interest has been accrued for on the basis of compounding, except in the cases of foreign-trade transactions, savings-account balances and authorized overdraft balance, which have been accrued for by the simple interest method.

The Bank decided directly to interrupt the accrual of interest whenever the collection of principal granted or the payments of loans were in default (generally, with delays over 90 days) and the recoverability the principal loaned and of accrued interest was uncertain. Interest accrued until the interruption is deemed part of the payable upon determining the amount of loan provisions. Subsequently, interest is only recognized based on collection, once the receivable for previously accrued interest has been settled.

e) Accrual of the adjustment by CER

As of September 30, 2015 and December 31, 2014, certain loans and other assets have been adjusted by CER.

Pursuant to BCRA Communication “A” 3507, as supplemented, which established that until December 31, 2002, payments should be made under the original terms and conditions of each transaction, and that they should be allocated as payments on account, whereas principal was adjusted as from February 3, 2002, by the CER prevailing as of December 31, 2002, deducting the abovementioned payments on account since payment date, except for those subject to Law No. 25713, which excludes from CER application certain lines of mortgage, car and personal loans.

f) Loans and deposits of government securities

They were valued according to the effective listed prices for each security as of each period or fiscal year, as the case may be, plus the related accrued interest. Quoted price differences were charged to income/loss for each period.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

15 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

g) Allowance for loan losses, provision for contingent commitments and provision for other contingencies

1. Allowance for loan losses and contingent commitments

The allowance for loan losses was booked based on the estimated uncollectibility risk of the Bank’s credit assistance, which results from assessing the compliance from borrowers and the guarantees supporting the related transactions in conformity with BCRA Communication “A” 2950, as supplemented.

2. Allowance for other contingencies:

It includes the amounts estimated by the Bank’s Management necessary to bear likely contingencies that, if verified, will result in a loss for the Bank.

h) Other receivables from financial intermediation

1. Amounts receivable from spot sales to be settled and forward sales

They were valued at the prices agreed upon for each transaction, plus the related premiums accrued as of each period or fiscal year, as the case may be. These premiums were charged to income/loss for the period.

2. Securities and foreign currency receivable from spot purchases to be settled and forward purchases

a. Listed: they were measured at the quoted prices prevailing for each security and foreign currency on the Buenos Aires securities market or the Electronic Over-the- counter market as of the period or fiscal year, as the case may be. Quoted price differences were charged to income for each period.

b. Unlisted: they were valued at cost increased exponentially, by applying the internal rate of return as of the period or fiscal year, as the case may be. The related accrual was allocated to income/loss for each period.

3. Unlisted corporate bonds

They were valued at cost increased exponentially, by applying the internal rate of return.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

16 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

4. Other not covered by Debtor Classification Standards – Financial Trusts

They were valued at cost adjusted by CER, where applicable, and increased exponentially, by applying the internal rate of return.

i) Receivables from financial leases

In accordance with BCRA Communication “A” 5047 as supplemented, they were valued at the discounted value of the sum of minimum installments pending collection (exclusive of any contingent installments), the residual value previously agreed and the purchase options, for the financial lease agreements in which the Bank acts as lessor. The discounted value is calculated by applying the imputed interest rate of each lease agreement.

As of September 30, 2015, and December 31, 2014, the characteristics of the current lease agreements are among the usual ones for this kind of transaction, and there is no differentiating issue of any kind compared with the transactions generally agreed on the Argentine financial market.

These transactions are atomized among the Bank’s customers and there are no pre- established contingent installments or automatic renewal clauses.

j) Investments in other companies

As of September 30, 2015, and December 31, 2014, the equity interests in other companies were valued as follows:

1. Subsidiaries

Banco Patagonia (Uruguay) S.A. I.F.E.: at the amount calculated by the equity method as of each period- or fiscal year-end, as the case may be, converted into Argentine pesos, as described in note 1.6.a).

Patagonia Valores S.A. and Patagonia Inversora S.A. Sociedad Gerente de Fondos Comunes de Inversión: by the equity method as of each period- or fiscal year-end, as the case may be.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

17 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

GPAT Compañía Financiera S.A.: by the equity method as of each period- or fiscal year-end, as the case may be. As of December 31, 2014, the related amount was net of the negative goodwill, resulting from the difference between the acquisition cost and the equity method value at the time of acquisition. Goodwill amortization was calculated based on a term of 60 months. The month of addition is amortized in full, whereas the month of retirement is not, being June 2015 the last month of amortization.

2. Other companies

At cost, restated by applying the process described in note 1.4. or by the equity method, whichever lower, considering each company’s latest available financial statements.

k) Property, plant and equipment, and miscellaneous assets

These assets were booked at cost, restated following the procedure described in note 1.4.

Depreciation was calculated based on the months of useful life. The assets were fully depreciated in the month of addition, but were not depreciated in the month of retirement.

The residual value of property, plant and equipment, and other, taken as a whole, does not exceed the recoverable value of such assets.

l) Other miscellaneous assets

These assets were booked at cost, restated following the procedure described in note 1.4.

Depreciation, when appropriate, was calculated based on the months of useful life. The assets were fully depreciated in the month of addition, but were not depreciated in the month of retirement.

The residual value of these assets, taken as a whole, does not exceed their recoverable value.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

18 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

m) Intangible assets

1. Differences from court resolutions - Not deductible from computable equity – Original value

It includes the difference between the original foreign currency amount converted at the exchange rate applied for the settlement of deposits under recursos de amparo (legal actions for the protection of constitutional rights) and the amount booked according to the regulations effective as of the settlement date (conversion into pesos at the ARS 1.40-to-USD 1 exchange rate, or the equivalent in other foreign currencies, plus CER).

As of September 30, 2015, and December 31, 2014, the amount booked was 234,226, and according to the criterion duly adopted by the Bank, it was amortized in full and charged to income/loss until the fiscal year ended December 31, 2007.

Additionally, for the cases pending resolution, the Bank estimated an additional amount ranging from its update according to the rulings mentioned in note 1.6.u) and its book value, charging it directly to income/loss.

2. Differences from court deposits dollarization - Not deductible from computable equity – Original value

As required by BCRA Communication “A” 4686, dated July 4, 2007, this includes the difference between the equivalent value in pesos, considering the court deposits in the currency in which they were made, and the book value of such deposits made in foreign currency which, as of January 5, 2002, fell under the scope of Law 25561 and Presidential Decree No. 214/02.

As of September 30, 2015, and December 31, 2014, the amount booked is 1,726, and according to the criterion adopted by the Bank, it was amortized in full and charged to income/loss (see note 1.6.u)).

3. Organization and development expenses

Leasehold improvement expenses incurred by the Bank were booked.

These expenses were booked at cost, restated following the procedure described in note 1.4., less the related accumulated amortization.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

19 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

Expense amortization is calculated based on the useful life stated in months, which shall not exceed 60 monthly installments as from each capitalization. The month of addition is amortized in full, whereas the month of retirement is not.

As of September 30, 2015, and December 31, 2014, the residual value of “Organization and development expenses” amounts to 20,808 and 29,572, respectively.

n) Other receivables from financial intermediation

1. Unsubordinated corporate bonds

As of September 30, 2015 and December 31, 2014, they were stated at nominal value plus accrued interest (see note 10).

2. Amounts to be paid for spot purchases to be settled and forward purchases

They were valued at the prices agreed upon for each transaction, plus the related premiums accrued as of each period- or fiscal year-end, as the case may be. These premiums were charged to income/loss for each period.

3. Securities to be delivered for spot sales to be settled and forward sales

a. Listed: they were valued at the quoted prices prevailing for each security at MERVAL or MAE as of each period- or fiscal year-end, as the case may be. Any differences in quoted prices were charged to income/loss for each period.

b. Unlisted: they were valued at cost value increased exponentially, by applying the internal rate of return as of period- or fiscal year-end, as the case may be. The relevant accrual was charged to income/loss for each period.

o) Items pending allocation

It includes items that, due to administrative organization reasons or the special nature of the relationship with third parties, were not directly allocated to the related accounts.

p) Shareholders’ equity accounts

Capital stock remained at its original value.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

20 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

q) Memorandum accounts - Derivatives

1. Forward transactions without delivery of underlying asset: they were valued according to the effective price listed on the MAE or Rosario’s Security Market (ROFEX), depending on the scope of agreement, as of each period or fiscal year. Quoted price differences were charged to income/loss for each period.

2. Interest rate swap transactions: they were valued at the notional value on which the Bank agrees to pay or charge a fixed interest rate and a floating interest rate. The difference between such rates was charged to income/loss for each period.

r) Statement of income

The accounts comprising monetary transactions occurred in each period (financial income (expense), service-charge income (expense), uncollectibility charge, administrative expenses, etc.) were computed at their historical amounts on a monthly accrual basis.

The accounts reflecting the effect on income (loss) of the sale, retirement, or consumption of nonmonetary assets were computed based on the values of those assets.

Income (loss) from interests in subsidiaries was computed based on the income (loss) of those companies.

s) Income taxes and minimum presumed income tax

The Bank calculates income tax by applying the effective 35% rate to taxable income for each fiscal period/year, without considering the effect of temporary differences between income for accounting and tax purposes.

It also assesses minimum presumed income tax, which was established by Law No. 25063 for a ten-year term for fiscal years ended on or after December 31, 1998. At present, after successive extensions, such tax is effective through December 31, 2019.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

21 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

This tax is supplementary to income tax because, whereas the latter is levied on taxable income for the year, minimum presumed income tax is a minimum levy on the potential income of certain productive assets at a 1% rate. Therefore, the Bank’s tax liability will be represented by the higher of the two taxes. In the case of institutions governed by the Financial Institutions Law, the abovementioned law sets forth that they shall consider as taxable income 20% of their taxable assets, after deducting those assets defined as non- computable. However, should minimum presumed income tax exceed income tax in a given fiscal year, such excess may be computed as a credit towards future income taxes occurring in any of the next ten fiscal years.

As of September 30, 2015, and 2014, the Bank assessed income tax charges based on taxable income of 913,627 and 935,205, respectively, which were recorded under “Miscellaneous liabilities” and charged to income/loss for each period under “Income tax”. Those amounts exceeded minimum presumed income tax amounts for each period; therefore, no provision was recorded in this regard.

t) Severance pay

The Bank allocates severance pay directly to expenses.

u) Legal actions

As a result of the measures taken by the Argentine Government in connection with the de-dollarization of deposits originally denominated in US dollars, and the rescheduling of bank deposits from early 2002, a significant number of legal actions were brought by individuals and companies against financial institutions, including this bank, on grounds that these measures breached constitutional rights, among others.

These legal actions for the protection of constitutional rights [ amparos ] resulted in a significant withdrawal of deposits from those institutions, because they should reimbursed rescheduled deposits (mostly, deposits in US dollars before the de-dollarization) at the freely-floating exchange rate instead of the amount booked according to the regulations effective as of the settlement date (converted into Argentine pesos at the ARS 1.40-to- USD 1 exchange rate, or the equivalent in other foreign currencies, plus CER), at which deposits were de-dollarized and recorded.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

22 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

As mentioned in note 1.6.m)1., the Bank records under “Differences from court resolutions - Not deductible from computable equity – Original value”, the difference between the original foreign currency amount converted at the exchange rate applied to the return of deposits under legal actions for the protection of constitutional rights and the amount booked according to the regulations effective as of the payment date.

According to the criterion adopted by the Bank in this connection, the abovementioned amounts have been duly amortized in full, and charged to income/loss.

Also, during 2006, and 2007, the Argentine Supreme Court entered different judgments ordering and/or clarifying both the calculation method and the computation of advance payments with respect to the deposits involved.

Finally, in Communication “A” 4686, dated July 4, 2007, in accordance with what has been mentioned above, the BCRA established that court deposits should be considered at the value at which they were made in the original currency converted into Argentine pesos as of each period- or fiscal year-end, as the case may be. For this calculation, it shall be construed that partial payments have been made in foreign currency. Furthermore, the BCRA set forth that the financial institutions shall be able to capitalize the difference resulting from such calculation and the book value of the deposit (see note 1.6.m)2.).

NOTE 2: Statement of cash flows

The statements of cash flows and cash equivalents as of September 30, 2015 and 2014 explain the changes in cash and cash equivalents and for such purpose, only the total amount included under “Cash and due from banks” was considered cash.

Additionally, there are no transactions related to investment or financing activities which have an impact on cash and which should be disclosed as a result of their significance.

NOTE 3: Main differences between BCRA standards and professional accounting standards effective in Buenos Aires City

The professional accounting standards effective in Buenos Aires City, Argentina, differ in certain valuation and disclosure criteria from BCRA accounting standards. The main differences between such criteria identified by the Bank and considered material to these financial statements are further described below:

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

23 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

3.1. Valuation criteria

The Bank’s main differences in valuation criteria as of September 30, 2015, and December 31, 2014, are as follows:

Adjustments to stand-alone financial statements (as per professional accounting standards)

Equity Income/loss Increase /( Decrease ) Income /( Loss ) Item 09/30/15 12/31/14 09/30/15 09/30/14

a) Instruments issued by the BCRA registered at cost plus yield 1,530 ( 7,392) 8,922 ( 2,169)

b) Acquisition of GPAT Compañía Financiera S.A. 874 8,134 ( 7,260) (10,990)

c) Deferred income tax (assets) 478,738 400,508 78,230 67,845

d) Derivative financial instruments 20 232 ( 212) 1,458

e) Investments in other companies 17,448 16,919 529 ( 4,865)

TOTAL 498,610 418,401 80,209 51,279

Adjustments to consolidated financial statements (as per professional accounting standards)

Equity Income/loss Increase /( Decrease ) Income /( Loss ) Item 09/30/15 12/31/14 09/30/15 09/30/14

a) Instruments issued by the BCRA registered at cost plus yield 1,530 ( 7,905) 9,435 ( 2,181)

b) Acquisition of GPAT Compañía Financiera S.A. 874 8,134 ( 7,260) (10,990)

c) Deferred income tax (assets) 496,186 417,940 78,246 69,907

d) Derivative financial instruments 20 232 ( 212) ( 5,457)

TOTAL 498,610 418,401 80,209 51,279

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

24 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

a) Instruments issued by the BCRA registered at cost plus yield

As of September 30, 2015 and December 31, 2014, the Bank booked under “Government and corporate securities – Instruments issued by the BCRA” holdings valued pursuant to note 1.6.b) 3.b). Following that criteria, it booked BCRA bills and notes under “Other receivables from financial intermediation – BCRA”.

According to professional accounting standards, these assets should be stated at market value.

b) Business combinations. Acquisition of GPAT Compañía Financiera S.A.

Under the standards set forth by the BCRA, business acquisitions are recorded at the book value of the acquired company. Consequently, the difference between the cost of investment and its equity value in the books of the acquirer is recorded as positive goodwill (when the cost of investment is higher than the equity value) or negative goodwill (when the cost of investment is lower than the equity value), as the case may be. If goodwill is negative, BCRA Communication “A” 3984 establishes specific amortization methods; the maximum amortization allowed per annum is 20%.

According to professional accounting standards, business combinations are booked based on the acquisition-date fair value of the acquired company’s identifiable net assets. Consequently, the difference between the cost of investment and the identifiable net asset measurement value is booked as positive or negative goodwill, as the case may be. If goodwill is negative, such goodwill will be allocated to income (loss) in accordance with the changes in the specific circumstances that that brought about such negative goodwill.

c) Deferred income tax

The Bank assesses income tax by applying the effective rate to the estimated taxable income for each period or fiscal year, disregarding the effect of temporary differences between income for accounting purposes and income for tax purposes.

In accordance with professional accounting standards, income tax should be booked by applying the deferred tax method, which consists in recognizing (as a receivable or payable) the tax effect of temporary differences between the valuation of assets and liabilities for accounting and tax purposes, and in subsequently charging them to income for the periods in which such differences are reversed, having duly considered the likelihood of using such tax losses in the future, if applicable.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

25 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

d) Derivative financial instruments

As of September 30, 2015 and December 31, 2014, the Bank booked the effects of interest rate swap agreements as mentioned in note 1.6.q)2.

Under professional accounting standards, derivative financial instruments should be measured at their net realizable value, which, in this case, may be estimated by using mathematical models that reflect the way in which the parties to these agreements set prices and include reliable data. Thus, an estimated fair value applicable to swap rights or obligations arises.

e) Investments in other companies

The subsidiary GPAT Compañía Financiera S.A. prepares its financial statements pursuant to BCRA standards, which show differences with professional accounting standards.

Had professional accounting standards been applied, the Bank’s shareholders’ equity as of September 30, 2015 and December 31, 2014 would have increased by 498,610 and 418,401, respectively, at the stand-alone and consolidated levels. In addition, income/loss for the periods ended September 30, 2015 and 2014 would have increased by 80,209 and 51,279, respectively, at the stand-alone and consolidated levels.

Disclosure criteria

a) The Bank does not disclose segment information or income (loss) per share.

b) The Bank does not classify its assets and liabilities as current and noncurrent based on the point in time at which the assets are expected to be turned into cash or cash equivalents and based on the point in time at which the liabilities become payable, as required by current professional accounting standards.

c) As of December 31, 2014, the Bank books the negative goodwill (related to the acquisition of GPAT Compañía Financiera S.A.) under Investments in other companies. According to professional accounting standards, such goodwill should be disclosed under “Goodwill”.

d) There are differences between the disclosure required by professional accounting standards and that effected by the Bank regarding the cash flows disclosed in the statements of cash flows, as these financial statements are prepared in conformity with specific standards applicable to financial institutions.

e) As supplementary information (exhibits), the Bank presents the information specifically required by the BCRA, which does not contemplate all disclosure requirements of professional accounting standards.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

26 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

NOTE 4: Adoption of International Financial Reporting Standards (IFRS)

According to the provisions of BCRA Communication “A” 5541, dated February 12, 2014, the Bank is in the process of adoption of the IFRS issued by the International Accounting Standards Board (IASB). In such Communication, the BCRA established the steps to be followed by financial institutions subject to BCRA supervision for the transition of the Reporting and Accounting regime to IFRS.

To this end, the BCRA is issuing regulations, which include the guidelines and tasks to be performed, and following up on the degree of progress of the transition plans that have been submitted by financial institutions to that end.

IFRS will be effective for annual accounting periods beginning on or after January 1, 2018, and for the interim accounting periods of such annual periods. Therefore, as from the first quarterly period of fiscal year 2018, financial institutions shall prepare and present their financial statements for publication in accordance with IFRS. These financial statements will include the opinion of the external auditor, and will be used by financial institutions for all legal and corporate purposes.

In addition, on September 22, 2014, the BCRA issued Communication “A” 5635, whereby it set the contents and formal requirements to be met by the “IFRS Transition Plan”. At a meeting held on March 30, 2015, the Bank’s Board of Directors approved the “IFRS Transition Plan”, which was filed with the BCRA on March 31, 2015.

In compliance with the periodicity required by Communication “A” 5635, at the meeting held on September 28, 2015, the Bank’s Board of Directors became aware of the information relating to the degree of progress of the transition, which was filed with the BCRA on September 30, 2015.

To the date of issuance of these financial statements, the Bank is carrying out the Implementation Plan, the development of which is subject to the specific rules issued by the BCRA.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

27 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

NOTE 5: Breakdown of items in “Other” accounts with amounts exceeding 20% of the related total account balance

Statement of financial position items 09/30 /15 12/31/14

A. Miscellaneous receivables Security deposits (Note 6) 240,093 180,689 Sundry receivables 109,629 82,625 Advance payments 98,594 77,168 Other 117,199 91,640 565 ,515 432 ,122

B. Other liabilities from financial intermediation Credit and debit card consumption charges payable 759,591 816,189 Foreign trade payment orders 498,490 695,300 Tax withholdings payable 365,672 271,839 Social security payment orders 94,896 127,151 Collections and other transactions on account and behalf of 75,843 70,086 others Other 548,018 272,538 2,342 ,510 2,253 ,103

C. Miscellaneou s liabilities Taxes payable 577,786 648,626 Payroll, social security contributions and withholdings 399,625 314,975 payable Sundry payables 137,435 128,918 Other 57,585 56,687 1,172 ,431 1,149 ,206

D. Memorandum accounts – Debit -balance c ontrol

accounts Other checks and securities in custody 23,833,573 12,387,616 Checks and securities to be debited 565,275 426,823 Checks and securities to be collected 241,106 348,720 24 ,639 ,954 13 ,163 ,159

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

28 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

Income-statement items 09/30/15 09/30/14

E. Service -charge income Insurance 141,063 97,903 Lease of safe-deposit boxes 67,280 51,932 Debit and credit cards 63,973 59,186 Recovery of expenses – cash-in-transit services 33,479 19,740 Capital market 13,339 4,182 Trust management 8,975 12,630 Other 45,995 37,665 374 ,104 283 ,238

F. Service -charge expense Credit card expenses 196,860 137,152 Turnover tax 117,918 81,055 ATM expenses 63,500 58,782 Other 4,108 2,620 382 ,386 279 ,609

G. Ot her earnings

Adjustments and interest on miscellaneous receivables 32,848 31,005

Income from assignment of tax credits 5,754 7,469

Income from the sale of fixed assets 15,469 1,394

Tax refund 12,340 -

Other 11,288 22,848

77 ,699 62 ,716

H. Other losses Expenses for recovery of receivables 10,942 5,600 Turnover tax 5,369 3,688 Donations 1,828 1,087 Administrative, disciplinary and criminal sanctions 534 - Social security charges 112 24,587 Other 10,627 8,881 29 ,412 43 ,843

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

29 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

NOTE 6: Restricted assets

As of September 30, 2015 and December 31, 2014, the Bank held the following restricted assets:

Item 09/30/15 12/31/14

Other receivables from financial intermediation - BCRA - Special guarantee accounts for transactions related 403,658 267,277 to electronic clearing houses - BCRA - Financial trusts under guarantee of forward 345,876 240,288 transactions - Security deposits for repurchase agreements 9,871 45,644 Total Other Receivables From Financial Intermediation 759,405 553,209

Miscellaneous receivables - Security deposits – Credit and debit card managers 132,878 114,490 - Government securities – IADB loan – Global Credit Program 81,279 55,812 for micro-, small- and medium-sized enterprises - Income from Government securities under guarantee of 10,276 3,776 forward transactions - Security deposits – Legal claims 3,674 2,311 - Security deposits –Attachments 8,819 1,917 - Security deposits – Other 3,167 2,383 Total Miscellaneous Receivables 240,093 180,689

TOTAL 999 ,498 733 ,898

NOTE 7: Allowances and provisions

Below are the amounts estimated by the Bank to meet contingencies of likely occurrence:

Item 09/30/15 12/31/14

Legal and labor contingencies 86,689 88,975 Difference from court deposits dollarization Communication "A" 4686 3,223 3,115 Contingent commitments 250 259 Administrative, disciplinary and criminal sanctions 34 - TOTAL ( Exhibit J) 90 ,196 92 ,349

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

30 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

NOTE 8: Transactions with Companies included in section 33, Law No. 19550

The following table shows the Bank’s receivables from/payables to its subsidiaries and affiliates, and its parent company as of September 30, 2015 and December 31, 2014:

09/30/15 12/31/14 Patagonia Valores S.A. Miscellaneous receivables – Sundry receivables 125 140 Deposits – Checking accounts 2,276 2,127 Deposits – Special checking account 2,342 1,904 Other liabilities from financial intermediation – Unsubordinated - 4,096 corporate bonds Memorandum accounts – Checks and securities in custody 13,368 3,846

As of September 30, 2015 and December 31, 2014, checks and securities in custody delivered to Patagonia Valores S.A. in the amount of 2,390 and 1,613, respectively, are recorded.

Patagonia Inversora S.A. Sociedad Gerente de F.C.I. Deposits – Checking accounts 298 285 Deposits – Special checking account - 1 Memorandum accounts – Checks and securities in custody 31,869 23,408

Banco Patagonia (Uruguay) S.A.I.F.E. Deposits – Checking accounts 1 - Deposits – Special checking account 13 13 Memorandum accounts – Checks and securities in custody 655,494 670,911 Memorandum accounts – Guarantees received 34,215 105,887

GPAT Compañía Financiera S.A. Loans – Interbank loans - (call options sold) 178,098 23,039 Loans – Other loans to local financial institutions – Discounted notes 86,028 115,279 Other receivables from financial intermediation – Unlisted corporate 1,047 35,960 bonds Deposits – Checking accounts 394 11,708 Other liabilities from financial intermediation – Accrued commissions 800 1,247 payable Memorandum accounts – Checks and securities in custody - 243,979

Banco do Brasil S.A. Cash and cash equivalents – Financial institutions and correspondents 133,579 24,057 Deposits – Checking accounts 1,520 1,662 Other liabilities from financial intermediation – Banks and international 1,390,390 415,053 organizations Memorandum accounts – Checks and securities in custody 2 2 Memorandum accounts – Guarantees granted 37,934 28,330

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

31 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

The Bank’s income (losses) as of September 30, 2015 and 2014 resulting from transactions with its subsidiaries and affiliates and its parent company is as follows:

09/30/15 09/30/14 Patagonia Valores S.A. Financial expenses – Interest on time deposits - 919 Financial expenses – Income (loss) on Corporate Bonds 317 830 Service-charge income – Commissions 1 1 Service-charge expense – Commissions - 95 Other earnings 1,169 1,228

Patagonia Inversora S.A. Sociedad Gerente de F.C.I. Service-charge income – Commissions 1 3 Other earnings 162 71

Banco Patagonia (Uruguay) S.A.I.F.E. Service-charge income – Commissions 2 4

GPAT Compañía Financiera S.A. Financial income – Interest on loans to the Financial Sector 7,963 5,418 Financial income – Interest on overdrafts 18 102 Financial income – Income (loss) on Corporate Bonds 1,559 3,090 Financial expenses – Income (loss) on interest rate swap - 9,314 Financial expenses – Interest on interbank loans received (call 1,849 741 options received) Service-charge income – Commissions 5,868 4,724 Service-charge expense – Commissions 8,345 7,452 Other earnings 1,949 1,770

Banco do Brasil S.A. Financial expenses – Interest on other loans from financial 14,155 2,569 institutions Service-charge income – Commissions 9 6 Other earnings 443 368

The Bank’s ownership interest in subsidiaries is disclosed in note 1 to the consolidated financial statements.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

32 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

NOTE 9: Capital stock

1. Capital structure

The Bank’s capital stock is made up of 719,264,737 shares, comprising 22,768,818 Class "A" shares and 696,495,919 Class "B" shares, all of them registered, common shares with a nominal value of ARS 1, and one vote per share.

Class “A” shares represent the ownership interest held by the Province of Río Negro, whereas Class “B” shares account for the ownership interest held by private capital.

As from April 12, 2011, the Banks's controlling shareholder is Banco do Brasil S.A., which holds an ownership interest that accounts for 58.9633% of the total corporate capital.

2. Call and put options

On April 12, 2011, under the Stock Purchase Agreement entered into between Banco do Brasil S.A. and the group of former controlling shareholders of the Bank (Sellers), both parties signed a Shareholders' Agreement whereby, among other rights and duties, the parties granted certain call and put options to be exercised as from the third anniversary of such date, so that Banco do Brasil S.A. may acquire the ownership interest held by the Sellers in the Bank, at the strike price equivalent to the US dollar price per share established in the Offering.

3. Treasury stock acquisition plan

On March 26, 2012, the Bank's Board of Directors decided to implement a plan for the repurchase of treasury stock on the Argentine market in accordance with section 68, Law 17811 (included by Executive Decree 677/01) and CNV rules, up to the maximum amount of 3,452, with a limit of 1,000,000 registered, common class “B” shares, one vote per share, with a nominal value of ARS 1 each.

The maximum price for the shares was set at $ 3.4515 per share and the term for their acquisition was one hundred and eighty calendar years as from March 27, 2012. On September 25, 2012, the Bank’s Board of Directors resolved to extend its effective term until March 22, 2013.

Before the expiration of the aforementioned plan, the Bank purchased common shares, whose nominal values were 119,500, in the amount of 394.

This program was triggered by the international macroeconomic conditions, where capital market volatility, in general, adversely affected the price of local shares, including the Bank’s shares.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

33 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

The due date for the sale of the shares acquired, as set forth in section 67 of Law 26831, is three years as from their acquisition, unless an extension of this term is decided at the Shareholders’ Meeting.

According to the provisions of Title IV, Chapter III of CNV rules, the accounting treatment given to the acquisition of treasury stock is as follows:

a) The acquisition cost of such stock is debited from “Optional reserve – Repurchase of shares” created for such purpose.

b) The nominal value of the stock acquired is debited from the “Capital stock – Shares issued and outstanding” account, and credited to the "Capital stock - Treasury stock issued" account.

NOTE 10: Global Program for the Issue of Corporate Bonds

The Annual Shareholders’ Meeting of Banco Patagonia S.A., held on April 26, 2012, approved the creation of a Global Program for the Issue of Simple Corporate Bonds, outstanding at any time, in the maximum amount of USD 250,000,000 or its equivalent in other currencies.

The Program has a duration of 5 years as from CNV’s authorization or for the maximum term that may be established by future applicable regulations; in that case, the Board of Directors of Bank may decide to extend the effective term thereof.

In addition, the Bank’s Board of Directors decided that the funds from Corporate Bonds issued under such Program shall be used for one or more of the purposes under section 36, Law No. 23576, and BCRA Communication “A” 3046, or as established in applicable regulations, depending on the related pricing appendix.

Under the abovementioned program, on December 3, 2012, the Bank issued Class 1, 1 st Series of the simple corporate bonds with a nominal value of 200,000,000 maturing within 18 months and amortized in a single payment on the maturity date. This series accrued interest at a floating annual rate equivalent to the “Private BADLAR Rate” plus a spread rate of 4%, payable quarterly in arrears. The series final maturity was on June 3, 2014.

On November 1, 2013, the Bank issued Class II Corporate Bonds with a nominal value of ARS 300,000,000, for an 18-month term and amortized in a single payment on the expiration date. The accrual of interest was at a floating annual rate equivalent to the “Private BADLAR Rate” plus a spread rate of 3.9%, payable quarterly in arrears. Expiration date was on May 4, 2015.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

34 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

As of March 31, 2014 the Bank’s Board of Directors approved the issuance of Class III Corporate Bonds in the maximum amount of 350,000,000 (nominal value) to be conducted under the Global Program for the Issuance of Simple Corporate Bonds in force.

Subsequently, on January 26, 2015, the Bank’s Board of Directors approved the update of the Corporate Bond Issuance Prospectus under the Global Program for the Issuance of Simple Corporate Bonds, extending the maximum amount of issuance of Class III Corporate Bonds up to 500,000,000 (nominal value), such extension was approved by the CNV on July 8, 2015.

Finally, on July 21, 2015, the Bank issued Class III corporate bonds with a nominal value of ARS 332,200,000, for an 18-month term and amortized in a single payment on the expiration date. During the first nine months, accrual of interest will be at an annual fixed rate of 25.50% and, for the following nine months, at an annual floating rate equivalent to the “Private BADLAR Rate” plus a spread of 3.75%, payable quarterly in arrears.

As of September 30, 2015, principal plus accrued interest relating to Class III corporate bonds is recorded in “Other liabilities from financial intermediation” in the amount of 332,200 and 16,478, respectively. As of December 31, 2014, principal plus accrued interest relating to Class II corporate bonds, recorded in that account, amounted to 311.928.

NOTE 11: Financial agent of the Province of Río Negro

Under Law No. 2929 of the Province of Río Negro, and the agreement signed on May 27, 1996, the Bank acted as a financial agent of the Provincial Government, being in charge of the banking duties set forth in article1.2 of the aforementioned agreement.

On February 28, 2006, such agreement expired, which remained effective up to December 31, 2006, through successive extensions, under the same terms and conditions as those of the abovementioned agreement.

Finally, through bidding process No. 1/2006 conducted by the Department of Finance, Public Works and Services of the Province of Río Negro, the Bank was awarded the financial agent duties, and on December 14, 2006, the Río Negro Province Banking and Financial Services Agreement was signed for a 10-year term as from January 1, 2007.

Such duties do not include the obligation to provide financial aid to the Province of Río Negro under conditions other than those consistent with the private banking nature of this bank.

NOTE 12: Derivative financial instruments

As of September 30, 2015 and December 31, 2014, the Bank held the following derivative financial instruments:

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

35 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

a) Forward transactions - Futures: They include forward purchases and sales of foreign currency without delivery of the underlying asset traded on MAE or ROFEX. They are valued at their quoted prices prevailing at each period or fiscal year in the market they were traded on, and are performed by the Bank for the purpose of intermediation on its own account. As of September 30, 2015 and 2014, the Bank recorded loss/income in the amount of (67,870) and 471,589, respectively.

b) Foreign currency forward transactions with clients – Forwards: They include forward purchases and sales of foreign currency without delivery of the underlying asset, traded on the private market. They are valued at their market price prevailing at each period or fiscal year, as the case may be, in the MAE, and are performed by the Bank for the purpose of intermediation on its own account. As of September 30, 2015 and 2014, the Bank recorded earnings in the amount of 142,748 and 78,929, respectively.

c) Reverse repurchase and repurchase agreements: They include the reverse repurchase and repurchase agreements on Argentine government securities pending settlement. These transactions are valued as mentioned in note 1.6.h)1. and 2. and 1.6.n)2. and 3., and are performed by the Bank for the purpose of intermediation on its own account. As of September 30, 2015 and 2014, the Bank recorded earnings in the amount of 84,777 and 42,065, respectively.

d) Interest rate swap transactions in Argentine pesos: They include the agreements executed, entitling to collect, within the deadlines set in each of them, the positive difference between the annual fixed nominal interest rate agreed for each transaction and the BADLAR interest rate established by the BCRA. Should the difference between rates be negative, the Bank will be required to pay such difference.

They are recorded under “Debit balance memorandum accounts – Derivatives – Interest rate swaps”. These transactions generated earnings in the amount of 247 and 975 as of September 30, 2015 and 2014, respectively.

NOTE 13: Trust activities

The Bank executed a number of agreements with other companies, whereby it was appointed trustee of certain financial trusts. The assets held in trust were mainly loans. As of September 30, 2015, the Bank manages the following financial trusts subject to public offering:

Date of Assets as of Equity as Financial trust Trustor Assets held in trust agreement 06/30/15 of 06/30/15 Personal loans Banco Piano XXII Banco Piano S.A. 09/02/2011 2,253 1,645 Personal loans Banco Piano XXV Banco Piano S.A. 05/09/2012 3,129 2,642 Personal loans Banco Piano XXXIV Banco Piano S.A. 02/28/2014 6,894 6,772

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

36 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

Date of Assets as of Equity as Financial trust Trustor Assets held in trust agreement 06/30/15 of 06/30/15 Personal loans Banco Piano XXXV Banco Piano S.A. 07/11/2014 19,981 7,349 Personal loans Banco Piano XXXVI Banco Piano S.A. 10/20/2014 60,409 2,557 Personal loans Banco Piano XXXVII Banco Piano S.A. 03/17/2015 126,813 4,608 Personal loans Cetelem II Banco Cetelem Argentina S.A. 06/10/2013 4,932 4,621 Personal loans Cetelem III Banco Cetelem Argentina S.A. 09/27/2013 13,377 13,112 Personal loans Cetelem IV Banco Cetelem Argentina S.A. 08/12/2014 38,452 36,136 Loans arising from the use of CMR Falabella L CMR Falabella 01/30/2015 37,990 credit cards - Loans arising from the use of CMR Falabella LI CMR Falabella 05/21/2015 151,176 credit cards - Loans arising from the use of Fava XXXIII Favacard S.A. 03/02/2015 35,811 credit cards 13,503 Consumer loans Serie Ribeiro LXX Ribeiro S.A.C.I.F.A. e I. 05/15/2014 (*) 2,694 - Consumer loans Serie Ribeiro LXXI Ribeiro S.A.C.I.F.A. e I. 08/19/2014 (*) 3,113 - Consumer loans Serie Ribeiro LXXII Ribeiro S.A.C.I.F.A. e I. 09/16/2014 (*) 5,709 - Consumer loans Serie Ribeiro LXXIII Ribeiro S.A.C.I.F.A. e I. 10/30/2014 56,287 34,604 Consumer loans Serie Ribeiro LXXIV Ribeiro S.A.C.I.F.A. e I. 12/15/2014 87,243 38,324 Consumer loans Serie Ribeiro LXXV Ribeiro S.A.C.I.F.A. e I. 02/20/2015 112,646 39,577 Consumer loans Serie Ribeiro LXXVI Ribeiro S.A.C.I.F.A. e I. 03/17/2015 83,891 27,156 Consumer loans Serie Ribeiro LXXVII Ribeiro S.A.C.I.F.A. e l. 05/12/2015 98,570 25,684 Consumer loans Serie Ribeiro LXXVIII Ribeiro S.A.C.I.F.A. e l. 06/16/2015 102,312 24,559 Consumer loans Tarjeta Sáenz VI Banco Sáenz S.A. 05/23/2014 58,798 22,794

Tarjeta Sáenz VII Banco Sáenz S.A. 03/16/2015 137,280 Consumer loans 34,974

Total 1,249,760 340,617

(*) As per financial statements for liquidation purposes as of 08/31/15

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

37 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

Public financial trusts authorized by the CNV, the financial statements of which are required after 09/30/2015:

Date of Financial trust Trustor Assets held in trust agreement Banco Piano XXXVIII Banco Piano S.A. 06/26/2015 Consumer loans Loans arising from the use of credit CMR Falabella LII CMR Falabella 06/23/2015 cards Loans arising from the use of credit CMR Falabella LIII CMR Falabella 08/07/2015 cards Loans arising from the use of credit Fava XXXIV Favacard S.A. 07/07/2015 cards Consumer loans Serie Ribeiro LXXIX Ribeiro S.A.C.I.F.A. e I. 07/30/2015 Consumer loans Serie Ribeiro LXXX Ribeiro S.A.C.I.F.A. e I. 09/07/2015 Consumer loans Tarjeta Sáenz VIII Banco Sáenz S.A. 08/31/2015

Private financial trusts

Date of Financial trust Trustor Assets held in trust agreement Real property located in the City of Metro Pedro López e Hijos S.A. 09/10/02 Buenos Aires and the Province of Mendoza

Trusts under management

Date of Financial trust Trustor Assets held in trust agreement Monthly contributions associated Concesionarios Concesionarios Mercedes - Benz 08/12/2014 with the sales of trucks and certain Mercedes - Benz automobiles

Financial trusts in escrow

Date of Financial trust Trustor Assets held in trust agreement Percentage of the daily provincial Bogar Clase I Serie II Provincia de Río Negro 06/11/09 tax revenues Percentage of the daily provincial Bogar Clase II Serie I Provincia de Río Negro 12/26/03 tax revenues Percentage of the daily provincial Bogar Clase II Serie II Provincia de Río Negro 06/11/09 tax revenues Percentage of the daily provincial Bogar Clase II Serie III Provincia de Río Negro 07/30/13 tax revenues

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

38 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

The Bank acts as a trustee of the abovementioned trusts, and in no case will it meet the obligations assumed in executing these trusts with its own assets; these obligations will only be satisfied with and up to the amount of the assets held in trust and the proceeds therefrom. In addition, the trustee shall not encumber the assets held in trust or dispose of them beyond the limits established in the related trust agreements.

The commissions earned by the Bank upon fulfilling its trustee’s duties are calculated under the terms of the related agreements.

NOTE 14: Custodian agent of Mutual funds

As of September 30, 2015, the Bank, in its capacity as Custodian agent of mutual funds, keeps the custody of shares subscribed by third parties and assets in the following Mutual Funds:

Name Deposits Other Total assets

Lombard Renta en Pesos Fondo Común de Inversión 1,282,736 202,613 1,485,349 Lombard Capital F.C.I. 612,734 3,255,195 3,867,929 Fondo Común de Inversión Lombard Renta Fija 4,232 176,624 180,856 Fondo Común de Inversión Lombard Pesos Plus 101,755 - 101,755 Fondo Común de Inversión Lombard Ahorro 6,783 - 6,783 Fondo Común de Inversión Lombard Abierto Plus 37 1,113 1,150 Fondo Común de Inversión Lombard Acciones Líderes - 901 901 TOTAL 2,008,277 3,636,446 5,644,723

NOTE 15: Deposit Guarantee Insurance System

Law No. 24485 and Decree No. 540/95 created a limited and mandatory Deposit Guarantee Insurance System for valuable consideration to provide coverage for risks inherent in bank deposits, supplementary to the bank deposit privileges and protection system established by the Financial Institutions Law.

Such law provided for the creation of Seguros de Depósitos S.A. (SEDESA) for the sole purpose of managing the Deposit Guarantee Fund, the shareholders of which, as amended by Presidential Decree No. 1292/96, shall be the BCRA, with at least one share, and the trustees of the trust agreement executed by financial institutions in the proportion established by the BCRA based on their contributions to the Deposit Guarantee Fund. Such company was created in August 1995. The Bank's equity interest therein is 4.9585% according to the percentages informed by the BCRA in Communication “B” 10981, dated March 26, 2015.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

39 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

This system shall cover the deposits in Argentine pesos and foreign currency with the participating institutions, such as checking accounts, savings accounts, time deposits or any other determined by the BCRA, up to the amount of 120, as long as the requirements under Decree No. 540/95 and any other established by the applicable authorities are met.

On October 6, 2014, through Communication “A” 5641, the BCRA made the latest adjustment to the deposit guarantee maximum amount of 350, effective November 1, 2014.

The system will not include: (a) financial institutions’ deposits with other intermediaries, including the certificates of time deposits acquired through secondary negotiation; (b) deposits made by persons related, either directly or indirectly, to the bank, according to BCRA current or future regulations; (c) time deposits of securities, acceptances or guarantees; d) deposits made after July 1, 1995, for which the interest rate agreed upon exceeded by two annual percentage points the BCRA deposit rate for equivalent certificates of deposit, effective on the date before the day the deposit was made; the BCRA is empowered to modify the reference rate established in this paragraph (d); and (e) other deposits that the enforcement authority may exclude in the future.

As of September 30, 2015 and 2014, the contributions made have been recorded in “Financial expenses – Contributions to the deposit guarantee fund” in the amount of 157,219 and 31,257, respectively.

NOTE 16: CNV requirement to act as Over-the-counter Broker

Pursuant to the provisions established by the CNV in General Resolution No. 622/13, as amended, a breakdown of the minimum capital and cash contra-account requirements for each broker category is as follows:

Minimum Minimum cash Role (1) capital contra-account Settlement and Clearing Agent and Comprehensive Trading 15,000 7,500 Agent

Custodian agent of mutual funds (2) 2,250 2,250

Financial and Non-financial Trustee 3,000 3,000

Total 20,250 12,750

(1) See Note 21. (2) See Note 14.

As of September 30, 2015, the Bank’s capital exceeds CNV's requirements and the minimum cash contra- account required is made up of funds deposited with the BCRA in current account No. 034 of Banco Patagonia S.A.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

40 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

NOTE 17: Minimum cash and capital requirements

1. Minimum cash requirements

The following table shows the items recorded by the Bank as minimum cash requirements, as provided by the related BCRA rules, as of September 30, 2015 and December 31, 2014:

Item 09/30/15 12/31/14 Cash BCRA – Current account 4,307,971 3,852,399 Other receivables from financial intermediation BCRA – Special guarantee accounts 403,658 267,277 TOTAL 4,711,629 4,119,676

2. Minimum capital requirements

The table shows the Bank's minimum capital requirements and the amount paid in (computable equity) as of September 30, 2015 and December 31, 2014:

Item 09/30/15 12/31/14 Minimum capital requirements (A) 3,379,773 2,766,498 Credit risk 2,292,453 1,977,387 Operational risk 777,923 646,791 Market risk – Securities 144,149 121,345 Market risk - Currencies 43,832 20,975 Additional requirements: see Note 23 121,416 - Payment (B) 6,098,294 5,659,171 SURPLUS (B-A) 2,718,521 2,892,673

BCRA Communication "A" 5369 and supplementary rules repealed, as from January 1, 2013, the provisions governing interest rate risk-based minimum capital requirements. However, financial institutions shall continue managing this risk, which shall be reviewed by the Foreign Exchange and Financial Institutions Regulatory Agency (SEFyC). As of September 30, 2015 and December 31, 2014, the interest rate risk-based minimum capital requirement amounts to 383,079 and 339,775, respectively.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

41 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

NOTE 18: Distribution of earnings

BCRA Communication “A” 5072, 5485, and supplementary provisions, set forth the general procedure for the distribution of earnings, according to which, a distribution may only be made with the express authorization of the BCRA, provided that there are no records of financial assistance from that entity due to illiquidity or shortfalls as regards minimum capital requirements or minimum cash requirements, among other previous conditions that must be met.

Additionally, earnings may only be distributed as long as a positive balance remains after deducting –on an off-balance sheet basis– the amounts of the mandatory legal reserves and those set forth by the by-laws, the positive net difference between the carrying amount of government securities and/or monetary regulation instruments governed by the BCRA, with no published volatility or present value published by the BCRA, and the value determined by the Bank, from unappropriated retained earnings.

BCRA Communication “A” 5273 introduced adjustments to the standards related to the distribution of earnings, in which, it is established that the maximum amount to be distributed shall not exceed the surplus minimum paid-in capital considering, exclusively, for these purposes, an incremental 75% adjustment to the requirement and deducting the adjustments previously mentioned.

Then, on January 8, 2015, BCRA Communication “A” 5689 set forth that financial institutions intending to distribute earnings in 2015, related to the fiscal year ended December 31, 2014, shall deduct the amount of the allowance for administrative, disciplinary and criminal sanctions set up as provided for by such rule.

Based on what has been described so far, on March 5, 2015, the Bank requested authorization from the Foreign Exchange and Financial Institutions Regulatory Agency (SEFyC), under the authority of the BCRA, for the payment of cash dividends for the fiscal year ended December 31, 2014 in the amount of 1,044,608.

Subsequently, the Annual Shareholders’ Meeting for fiscal year ended December 31, 2014, which was held on April 23, 2015, approved, amongst other issues, the following distribution of earnings:

Legal reserve 435,195 Optional reserve – Future distribution of earnings 698,312 Cash dividends 1,044,608 Total 2,178,115

The legal reserve was set up in accordance with BCRA’s provisions requiring that 20% of the profits for the year be allocated to that end.

Finally, on September 28, 2015, the SEFyC of the BCRA authorized the payment of cash dividends, which were made available to the Bank’s shareholders on October 15, 2015.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

42 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

Under the provisions of Law No. 25063, dividends distributed in cash or in kind, in excess of accumulated taxable income determined at the end of the fiscal year immediately prior to the date of payment or distribution will be subject to a 35% withholding tax rate as a one-off payment. The amount of income to be considered shall be that resulting from deducting the amount of taxes paid for the year or years in which such income, or the relevant proportionate amount of it, originated or was distributed plus dividends or earnings from other stock companies not considered when determining such income in the fiscal year. Such distribution of dividends is not subject to the previously mentioned withholding because it does not exceed the earnings determined based on the application of the referred regulations.

In addition, on September 20, 2013, Law No. 26893 stated that cash or kind dividends (except for shares or units of interest) will make their beneficiaries subject to the income tax at a 10% rate, as a one-off payment, notwithstanding the withholding rate mentioned before, if applicable.

NOTE 19: Sanctions imposed on financial institutions and administrative proceedings filed by the BCRA

On January 8, 2015, the BCRA issued Communication “A” 5689 whereby it established that financial institutions shall record and report the administrative, disciplinary and criminal sanctions imposed by the BCRA, the UIF, the CNV or the SSN, with judgment rendered in a court of original jurisdiction.

All sanctions shall be included and an allowance shall be set up for 100% of each sanction, which shall be kept until the payment is made or a final judgment is rendered. As of September 30, 2015, the Bank has set up provisions in relation to the following administrative proceedings :

- Exchange proceedings No. 4969 notified on April 17, 2012; ruling passed on July 4, 2015 by the Court in Economic Criminal Matters No. 6, Court Clerk’s Office No 12: on charges of the lack of authorization by the BCRA for the sale of foreign currency to a client in excess of the monthly limit of USD 2,000,000. The persons subject to these proceedings are Banco Patagonia S.A., Ariel Aranda, David Rodríguez, and Santiago Miñana. The sanction imposed was appealed, leading to the suspension thereof.

- Exchange proceedings No. 4974 notified on April 25, 2012; ruling passed on July 4, 2015 by the Court in Economic Criminal Matters No. 6, Court Clerk’s Office No 12: on charges of the failure to make the restricted deposit established by BCRA Communication "A" 4359 in connection with the purchase of bills held by an individual residing in the country in excess of the monthly limit of USD 2,000,000. The persons subject to the proceedings are Banco Patagonia S.A., David Rodríguez, and Ariel Aranda. The sanction imposed was appealed, leading to the suspension thereof

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

43 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

As of September 30, 2015, the Bank set up a provision in the amount of 34 to bear both sanctions.

In addition, during the nine-month period ended September 30, 2015, a sanction was imposed and paid in relation to the following proceedings:

- Financial proceedings No. 1384 notified on April 12, 2014: on charges of noncompliance with minimum security requirements established by Communication “A” 4778 of the BCRA. The persons against which proceedings have been filed are Banco Patagonia S.A., Jorge Guillermo Stuart Milne, Ricardo Alberto Stuart Milne, Emilio Carlos Gonzalez Moreno, Carlos Alberto Giovanelli, Carlos González Taboada, Marcos Daniel Croceri and José Luis De La Torre. These proceedings also introduced charges relating to the outdated filing of documentation on the appointment of the Bank’s authorities. The persons subject to these proceedings were Banco Patagonia S.A. and Jorge Guillermo Stuart Milne.

On April 1, 2015, the SEFyC issued Resolution No. 286 whereby it established the sanctions set forth by subsection 3, section 41 of Law No. 21526. Fines of 500 were imposed on Banco Patagonia S.A. and Jorge Guillermo Stuart Milne and fines of 400 were imposed on the remaining persons. Such fines were paid on April 15, 2015 and recorded pursuant to Communication "A" 5689.

Moreover, such Communication sets forth that the financial institutions shall report any proceedings filed by the BCRA as from the time the SEFyC gives notice of the commencement of any such proceedings, broken down as follows:

- Exchange proceedings No. 4783 notified on October 28, 2011: on charges of the failure to make the restricted deposit established by Communication "A"4359 in connection with 30% of a transaction performed by a non-resident to bring foreign currency into the country under Investments made by Non-residents applied to the purchase of real property. The persons subject to these proceedings are Banco Patagonia S.A., Juan Jorge Laguzzi, and Osvaldo Coloccini.

- Financial proceedings No. 1438 notified on April 14, 2015: on charges of the outdated filing of a report relating to an exchange transaction and its improper registration with the Exchange Transactions Reporting Regime. The persons subject to these proceedings are Banco Patagonia S.A., Adrián Pablo Gómez, Rubén Miguel Iparraguirre, and Jorge Rubio.

- Exchange proceedings No. 6297 notified on April 20, 2015: on charges of performing an exchange transaction without the prior authorization by the BCRA, in breach of Communication “A” 5377 of the BCRA. The persons subject to these proceedings are Banco Patagonia S.A., Pablo Reverter, and Jorge Rubio.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

44 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

- Financial proceedings No. 1447 notified on July 14, 2015: on charges of service of office as Director without authorization from the BCRA, noncompliance with the obligation to report the appointment of a new Director, and late filing of documentation on the appointment of new authorities. The persons subject to these proceedings are Banco Patagonia S.A., Jorge Guillermo Stuart Milne, Renato Luiz Belineti Naegele, Héctor Osvaldo Rossi Camilion, Alberto Mario Tenaillon, and María Lucía Denevi Artola.

Notwithstanding the foregoing, the Bank estimates that the impact on equity from the proceedings referred to above will not be significant.

NOTE 20: Credit Facility for Productive Investment

Communication "A" 5319, issued by the BCRA on July 5, 2012, established the terms and conditions of a credit facility called "Credit Facility for Productive Investment", oriented to the financing of investment projects for specific purposes, effective until December 31, 2012.

Subsequently, it established the successive extension of the credit facility for the first and second half of 2013, 2014 and 2015.

As regards the first tranche of 2015, the amount to be allocated by each entity was equivalent to at least 6.5% of the peso-denominated deposits of the non-financial private sector, calculated on the monthly average of daily balances for November 2014.

The fixed annual nominal interest rate accounted for 19% for at least the first 36 months. Upon expiration of this term, if such rate is discontinued, a variable rate may be applied which cannot exceed the BADLAR rate in pesos prevailing in private banks plus 150 basis points.

The Bank has met the objectives established for each limit as from the creation of the credit facility.

Regarding the tranche for the second half of 2015, BCRA Communication “A” 5771 dated July 2, 2015, stated that the amount to be allocated by each entity must be at least equivalent to 7.5% of peso-denominated deposits of the non-financial private sector, calculated on the monthly average of daily balances for May 2015.

The fixed annual nominal interest rate accounts for 18% for at least the first 36 months. Upon expiration of this term, if such rate is discontinued, a variable rate may be applied which cannot exceed the BADLAR rate in pesos prevailing in private banks plus 50 basis points.

As of September 30, 2015 and December 31, 2014, the amounts recorded in this credit facility amount to 3,856,790 and 2,763,305, respectively.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

45 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

NOTE 21: Capital Market Law

On December 27, 2012, Capital Markets Law No. 26831 became effective,regulated by Decree No. 1023/13 of the Argentine Executive Branch dated July 29, 2013 . This Law considers the comprehensive reform of the current public offering system (Law No. 17811) which came into force on January 28, 2013.

Through the provisions of General Resolution No. 622/13 dated September 9, 2013, and subsequent administrative criteria, the CNV adapted its regulations to respond to new circumstances for the purposes of securing the regular performance of the various agents operating in the Capital Market, with the aim of ensuring compliance with the principles established in the new Capital Market Law.

The Bank was registered by the CNV for the purposes of acting in the following capacities:

- Financial and non-financial trustee: authorized through Resolution No. 17418, issued by the CNV on August 8, 2014.

- Mutual fund custodian: authorized through Order No. 2081 of the CNV dated September 18, 2014.

- Settlement and clearing agent and comprehensive trading agent: authorized through Order No. 2095 of the CNV dated September 19, 2014.

In addition, the Banks’ Management continuously checks the scope and contents of the aforementioned reform in order to determine the related potential impact on its financial position that should be reflected in the financial statements for future periods.

NOTE 22: Global position in foreign currency

Communication "A" 5536 issued by the BCRA on February 4, 2014 established new limits to the “Positive global position in foreign currency" (Spanish acronym: PGNME) effective as from February 2014.

In addition, on February 21, 2014, BCRA Communication “A” 5550 changed the charges imposed on those financial institutions not complying with the limits set for the PGNME.

In this regard, on March 20, 2014, the Bank paid a charge in the amount of 21,816 for having recorded a PGNME in excess of the newly established limits during February 2014.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

46 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

However, pursuant to the assessment made by the Bank based on the interpretation of the rule, the charge should have been 9,286. Consequently, on March 26, 2014, the Bank submitted a letter to the BCRA requesting a review of the calculation methodology and the reimbursement of 12,530 for the overpaid charge.

Subsequently, on September 3, 2014, the BCRA published Communication “A” 5627, establishing that, as from the September 2014 position, the general limit cannot exceed 20% of computable equity for the prior month or the entity’s liquid assets, whichever lower.

Finally, on July 23, 2015, BCRA’s Board of Directors, through Resolution No. 223, dismissed the claim filed by the Bank.

As of September 30, 2015, the Bank is within the PGNME limits established in the regulation in force.

NOTE 23: Credit rating

In June 2015, the SEFyC notified the Bank about an excess in the limit on the credit rating technical ratio in connection with the financing granted to two clients. Such excess occurred between May 2014 and October 2014 in the amount of 53,647, and between January 2013 and June 2015 in the amount of 27,297.

The excess referred to above gave rise to an increase in the minimum capital requirements in an amount equivalent to 150% of the highest amount of the excess recorded in those periods, and for the months during which the excess was maintained, and, additionally, once the excess was corrected, for a number of months equivalent to the number of periods during which the excess occurred and was not timely reported by the Bank. To the date of issuance of these financial statements, no other events have taken place.

NOTE 24: Context of the financial market

Over the last years, the international economic context showed moderate growth levels and certain degree of volatility in the value of financial assets that impact interest rates, and employment levels.

At a local level, an increased volatility in the value of government and corporate securities, interest rates as well as in certain variables of the economy has been noted.

Market conditions are continuously analyzed by the Bank’s Management in order to determine the possible actions to be adopted and identify potential impacts on the financial position that should be disclosed in the financial statements for future periods.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

47 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

NOTE 25: Transactions with directors

No transactions falling under the provisions of section 271 of Law No. 19550 have been identified.

NOTE 26: Custody of the Bank’s Documentation

Pursuant to the provisions of General Resolution No. 629 issued by the CNV on August 14, 2014, it is informed that the Bank has entrusted the custody of supporting documentation related to accounting transactions and other management documentation, not included in article 5 a.3), Section I, Chapter V, Title II of the CNV Rules (2013 consolidated text and amendments), to the third parties listed below:

Company Responsible for the Address Deposit

AdeA Administradora de Archivos S.A. Route 36 - Km. 31.5 - Florencio Varela – Province of Buenos Aires

Amancio Alcorta 2482 – City of Buenos Aires

Saraza 6135 – City of Buenos Aires

Iron Mountain Argentina S.A. Azara 1245 - City of Buenos Aires

San Miguel de Tucumán 601 - Carlos Spegazzini – Province of Buenos Aires

The Bank keeps a detail of the documents entrusted to such custodians for review by the controlling bodies at its registered office.

NOTE 27: Compliance with provisions set forth by Law No. 25738

Banco Patagonia S.A. is a stock corporation organized under the laws of Argentina, the shareholders of which limit their liability to the paid-in shares subscribed in accordance with Law No. 19550. Therefore, in compliance with Law No. 25738, we report that neither the foreign majority shareholders nor the local or foreign shareholders are liable, in excess of such paid-in shares, for the obligations arising from the transactions performed by the Bank.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

48 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (Note 1.2) (stated in thousands of pesos)

NOTE 28: Publication of financial statements

Under Communication “A” 2813 and supplementary BCRA rules, the BCRA’s prior involvement is not required for the publication of these financial statements.

NOTE 29: Subsequent events

No other events or transactions have occurred from period-end to the date of issuance of these financial statements that would have a material effect on the financial position of the Bank or the results of its operations as of September 30, 2015.

NOTE 30: Explanation added for the purposes of translation into English

These financial statements are presented on the basis of the BCRA’s standards and, except for the effect of the matters mentioned in note 3, in accordance with the professional accounting standards in force in the City of Buenos Aires, Argentina. Certain accounting practices applied by the Bank that comply with the standards of the BCRA and with the professional accounting standards in force in the City of Buenos Aires, Argentina may not conform with generally accepted accounting principles in other jurisdictions.

The effects of the differences, if any, between the professional accounting principles in force in the City of Buenos Aires and the accounting principles generally accepted in the jurisdictions in which the enclosed financial statements are to be used have not been estimated. Accordingly, these statements are not intended to present the financial position and results of operations in accordance with the accounting principles generally accepted in the countries - other than Argentina - in which such statements are to be used (taking into account the effect of the matters mentioned in note 3).

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

49 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

EXHIBIT “A” BREAKDOWN OF GOVERNMENT AND CORPORATE SECURITIES AS OF 09/30/15 AND 12/31/14 (stated in thousands of pesos)

Holding Market Book Book Position Final Name Identification value or balances balances without position present as of as of options (1) value al 09/30/15 al 12/31/14

Government securities at fair market value - Argentine Government Bond USD-related 0,75% 2017 5,465 - 652,527 - 605,437 605,437 - Argentine Treasury Bonds Maturity July 2016 5,463 - 413,497 - 423,821 423,821 - Argentine Government Bonds - private BADLAR + 200 B.P. 2016 5,459 - 334,473 332,045 334,473 334,473 - Argentine Government Bonds - private BADLAR + 250.B.P. 2019 5,454 - 289,091 361,566 407,792 407,792 - Argentine Treasury Bonds Maturity May 2016 5,314 - 250,088 - 250,088 250,088 - Argentine Government Bonds - private BADLAR + 200 P.B. 2017 5,460 - 240,293 399,454 240,293 240,293 - Consolidation Bond – 8th Series 2,571 - 171,157 152,685 172,789 172,789 - Consolidation Bond – 7th Series 2,570 - 131,294 155,603 131,294 131,294 - Guaranteed Bond – Decree No. 1579/02 (Bogar) 2,405 - 86,576 330,989 56,978 56,978 - Discount Bond in USD 8,28% 45,700 - 55,101 148 1,710 1,710 - Consolidation Bond 6th Series 2,420 - 38,860 - 21,342 21,342 - Debt securities of the Province of Neuquén 1st Series, Class 2 32,267 - 26,010 - 26,010 26,010 - Argentine Government Bonds in USD 2017 5,436 - 22,046 - (10,315) (10,315) - Other 47,165 308,984 37,276 37,276

Total government securities at fair market value 2,758,178 2,041,474 2,698,988 2,698,988

Government securities from repo transactions with the BCRA - Discount Bonds in ARS 5.83% 45,696 - - 102,182 - -

Total Government securities from repo transactions with the BCRA - 102,182 - -

Government securities at cost plus yield - Argentine Bond for Economic Development 5,456 111,700 80,230 73,581 80,230 80,230 - Debt securities 2nd series of Province of Entre Rios maturity 2017 32,549 15,819 15,819 - 15,819 15,819 - Debt securities 2nd series in USD, Province of Entre Ríos 32,307 6,606 6,606 10,771 6,606 6,606 - Government debt securities Class 2 of the Province of Chubut 32,487 5,277 5,277 - 5,277 5,277 - Debt securities 1 st series of the Province of Entre Ríos Maturity 2017 32,524 5,111 5,111 - 5,111 5,111 - Bill of the Province of Neuquén Class 1 32,480 4,094 4,094 - 4,094 4,094 - Other 277 272 4,789 4,789

Total Government securities at cost plus yield 117,414 84,624 121,926 121,926

(1) It includes “Holdings" plus “Deposits offered as security” “Loans" and “Spot purchases to be settled and forward purchases” less “Deposits” and “Spot sales to be settled and forward sales”.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

50 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

EXHIBIT “A” BREAKDOWN OF GOVERNMENT AND CORPORATE SECURITIES (CONTINUED) AS OF 09/30/15 AND 12/31/14 (stated in thousands of pesos)

Holding Market Book Book Position Name Final Identification value or balances balances without position present as of as of options (1) value al 09/30/15 al 12/31/14

Instruments issued by the BCRA

- BCRA Bills - At fair market value - 3,302,377 1,375,502 3,749,109 3,749,109 - BCRA Bills- Maturity 10/21/2015 46,623 - 723,228 - 876,718 876,718 - BCRA Bills- Maturity 02/24/2016 46,644 - 588,212 - 588,212 588,212 - BCRA Bills- Maturity 11/11/2015 46,627 - 526,561 - 584,960 584,960 - BCRA Bills- Maturity 11/25/2015 46,629 - 465,435 - 658,161 658,161 - BCRA Bills- Maturity 12/02/2015 46,630 - 398,241 - 398,241 398,241 - BCRA Bills- Maturity 11/04/2015 46,625 - 226,038 - 243,637 243,637 - BCRA Bills- Maturity 10/28/2015 46,624 - 211,091 - 211,091 211,091 - BCRA Bills- Maturity 12/09/2015 46,631 - 64,006 - 68,779 68,779 - BCRA Bills- Maturity 12/30/2015 46,635 - 39,677 - 59,422 59,422 - BCRA Bills- Maturity 10/07/2015 46,621 - 32,891 - 32,891 32,891 - Other - 26,997 1,375,502 26,997 26,997

- BCRA Bills – From repo transactions - 583,447 - - - - BCRA Bills- Maturity 06/01/2016 46,659 - 353,947 - - - - BCRA Bills- Maturity 05/11/2016 46,656 - 229,500 - - -

- BCRA Bills – At cost plus yield - 2,691,059 2,390,619 2,691,059 2,691,059 - BCRA Bills- Maturity 03/02/2016 46,645 - 408,365 - 408,365 408,365 - BCRA Bills- Maturity 04/06/2016 46,651 - 349,963 - 349,963 349,963 - BCRA Bills- Maturity 04/13/2016 46,652 - 348,236 - 348,236 348,236 - BCRA Bills- Maturity 04/20/2016 46,653 - 345,650 - 345,650 345,650 - BCRA Bills- Maturity 03/23/2016 46,649 - 251,830 - 251,830 251,830 - BCRA Bills- Maturity 03/16/2016 46,648 - 239,759 - 239,759 239,759 - BCRA Bills in USD- Maturity 10/07/2015 - Segment V 8,987 - 188,267 - 188,267 188,267 - BCRA Bills- Maturity 05/04/2016 46,655 - 171,552 - 171,552 171,552 - BCRA Bills in USD- Maturity 10/21/2015 - Segment V 9,008 - 122,221 - 122,221 122,221 - BCRA Bills in USD- Maturity 10/28/2015 - Segment V 9,025 - 112,749 - 112,749 112,749 - BCRA Bills- Maturity 30/03/2016 46,650 - 79,132 - 79,132 79,132 - BCRA Bills in USD- Maturity 10/14/2015 - Segment V 9,000 - 28,222 - 28,222 28,222 - Other 45,113 2,390,619 45,113 45,113

Total Instruments Issued by the BCRA 6,576,883 3,766,121 6,440,168 6,440,168

Investments in listed corporate securities

- Equity securities – Argentina - 138 6,698 138 138 - Carboclor S.A. 927 - 138 - 138 138 - Sociedad Comercial del Plata S.A. 251 - - 6,698 - -

Total Investments in listed corporate securities 138 6,698 138 138

Total Government and Corporate Securities 9,452,613 6,001,099 9,261,220 9,261,220

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

51 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

EXHIBIT “B” FINANCING FACILITIES CLASSIFIED BY STATUS AND GUARANTEES RECEIVED AS OF 09/30/15 AND 12/31/14 (amounts stated in thousands of pesos)

Commercial loan portfolio 09/30/15 12/31/14

Performing 21,855,818 18,195,197

- With “A” preferred guarantees and counter-guarantees 644,714 659,469 - With “B” preferred guarantees and counter-guarantees 2,451,468 2,252,721 - Without preferred guarantees or counter-guarantees 18,759,636 15,283,007

Subject to special monitoring 236,459 162,664

In observation 66,470 129,577

- With “B” preferred guarantees and counter-guarantees 50,033 102,296 - Without preferred guarantees or counter-guarantees 16,437 27,281

In negotiation or under refinancing agreements 169,989 33,087

- With “B” preferred guarantees and counter-guarantees 125,738 29,556 - Without preferred guarantees or counter-guarantees 44,251 3,531

Troubled 13,107 5,636

- With “B” preferred guarantees and counter-guarantees 7,008 778 - Without preferred guarantees or counter-guarantees 6,099 4,858

With high risk of insolvency 10,280 26,505

- With “A” preferred guarantees and counter-guarantees 1,250 1,688 - With “B” preferred guarantees and counter-guarantees 1,207 16,703 - Without preferred guarantees or counter-guarantees 7,823 8,114

Irrecoverable 108,214 111,469

- With “A” preferred guarantees and counter-guarantees 300 - - With “B” preferred guarantees and counter-guarantees 65,893 29,335 - Without preferred guarantees or counter-guarantees 42,021 82,134

Total commercial loan portfolio 22,223,878 18,501,471

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

52 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

EXHIBIT “B” FINANCING FACILITIES CLASSIFIED BY STATUS AND GUARANTEES RECEIVED (CONTINUED) AS OF 09/30/15 AND 12/31/14 (amounts stated in thousands of pesos)

Consumer and/or home loan portfolio 09/30/15 12/31/14

Performing 9,329,446 7,299,995

- With “A” preferred guarantees and counter-guarantees 53,836 33,697 - With “B” preferred guarantees and counter-guarantees 250,881 220,510 - Without preferred guarantees or counter-guarantees 9,024,729 7,045,788

Low Risk 137,007 172,238

- With “A” preferred guarantees and counter-guarantees 920 230 - With “B” preferred guarantees and counter-guarantees 2,828 2,114 - Without preferred guarantees or counter-guarantees 133,259 169,894

Medium Risk 40 ,012 56 ,514

- With “B” preferred guarantees and counter-guarantees 1,330 497 - Without preferred guarantees or counter-guarantees 38,682 56,017

High Risk 168,182 175,337

- With “B” preferred guarantees and counter-guarantees 2,148 1,237 - Without preferred guarantees or counter-guarantees 166,034 174,100

Irrecoverable 88,712 113,197

- With “B” preferred guarantees and counter-guarantees 202 247 - Without preferred guarantees or counter-guarantees 88,510 112,950

Irrecoverable according to BCRA regulations 89 76

- Without preferred guarantees or counter-guarantees 89 76

Total consumer and/or home loan portfolio 9,763,448 7,817,357

Grand total 31,987,326 26,318,828

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

53 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

EXHIBIT “C” FINANCING FACILITIES CONCENTRATION AS OF 09/30/15 AND 12/31/14 (amounts stated in thousands of pesos)

Financing Number of customers 09/30/15 12/31/14 Outstanding % of total Outstanding % of total amount portfolio amount portfolio

10 largest customers 3,672,250 11.48% 2,310,422 8.78% 50 next largest customers 5,569,374 17.41% 3,846,201 14.61% 100 next largest customers 3,951,900 12.35% 3,490,401 13.26% Rest of customers 18,793,802 58.76% 16,671,804 63.35%

Total 31,987,326 100.00% 26,318,828 100.00%

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

54 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

EXHIBIT “D” FINANCING FACILITIES BROKEN DOWN BY TERM AS OF 09/30/15 (amounts stated in pesos)

Terms remaining to maturity

Item Matured 12 24 Over 24 1 month 3 months 6 months Total months months months

Nonfinancial government sector - 43,572 103 18 25,867 82,797 18,824 171,181

Financial sector - 304,337 46,303 128,959 282,042 132,879 803 895,323

Nonfinancial private sector and foreign 487,282 13,776, 594 3,154,968 2,988,536 1,895,599 2,532,374 6,085,469 30,920,822 residents

Total 487,282 14,124, 503 3,201,374 3,117,513 2,203,508 2,748,050 6,105,096 31,987,326

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

55 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

EXHIBIT “E” BREAKDOWN OF INVESTMENTS IN OTHER COMPANIES AS OF 09/30/15 AND 12/31/14 (amounts stated in thousands of pesos)

Shares and/or Units Amount

Votes Identification Name Face value Class per Number 09/30/15 12/31/14 per unit share

In financial institutions, supplementary and authorized activities – Subsidiaries – In Argentina

30678564822 GPAT Compañía Financiera S.A. (1) Common $ 1 1 85,968,713 731,632 566,764 30654325126 Patagonia Valores S.A. Common $ 1 1 13,862,507 24,618 23,694 30608298815 Patagonia Inversora S.A. Sociedad Gerente de F.C.I. Common $ 1 1 13,317,233 61,067 35,961

Subsidiaries – Abroad

00034UY0117 Banco Patagonia (Uruguay) S.A.I.F.E. Common USD 100 1 50,000 106,985 96,188

Non -subsidiaries – In Argenti na

30598910045 Prisma Medios de Pago S.A. (2) Common $ 0.0001 1 847,503 1,323 1,323 33663293309 Provincanje S.A. Common $ 1 1 600,000 484 562 30682415513 Seguro de Depósitos S.A. Common $ 1 1 52,586 493 493 30690783521 Interbanking S.A. Common $ 1 1 149,556 779 779 30525698412 Mercado a Término de Buenos Aires S.A. Common $ 66,712 1 1 73 73 33628189159 Mercado Abierto Electrónico S.A. Common $ 1,200 1 4 65 65 30542421289 Bolsa de Comercio de Mar del Plata S.A. Common $ 1 5 106 56 56 30688964306 Argencontrol S.A. Common $ 1 1 48,906 53 53 30692264785 Compensadora Electrónica S.A. Common $ 1 1 42,478 74 74 30710903812 Banelsip S.A. Common $ 1 1 375 1 1 Otras 15 15

Non -subsidiaries – Abroad

00034US0001 Banco Latinoamericano de Exportaciones S.A. Class B w/NV 1 5,033 161 147 00034US0001 Banco Latinoamericano de Exportaciones S.A. Preferred w/NV 1 125 12 10 30590221275 S.W.I.F.T. Common € 1 1 1 31 24

In other companies – Non -subsidiaries – In

Argentina

30605114969 Sanatorio Las Lomas S.A. Common $ 1 1 52,979 84 84 30577350813 Miralejos S.A.C.F. y Agropecuaria Preferred $ 1 - 105,738 106 106

Total Investments in Other Companies 928,112 726,472

(1) As of 12/31/14 net of negative goodwill amounting to 7,459. (2) Change in corporate name due to the merger of Visa Argentina S.A. and Banelco S.A. as from October 1, 2014.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

56 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

EXHIBIT “E” BREAKDOWN OF INVESTMENTS IN OTHER COMPANIES (CONTINUED) AS OF 09/30/15 AND 12/31/14 (amounts stated in thousands of pesos)

Information on the issuer – Latest financial statement information Shareholders’ Income/loss Name Main business activity Year-end date Capital equity for the year

In financial institutions, suppl ementary and authorized activities – Subsidiaries – In Argentina

GPAT Compañía Financiera S.A. Financial company 12-31-14 86,837 580,024 157,424 Patagonia Valores S.A. Brokerage house 12-31-14 13,863 23,694 2,526 Patagonia Inversora S.A. Soc. Gte. F.C.I. Mutual funds management 12-31-14 13,317 35,961 16,645

Subsidiaries – Abroad

Banco Patagonia (Uruguay) S.A.I.F.E. Foreign bank 12 -31 -14 47 ,096 105 ,938 ( 1,412)

Non -subsidiaries – In Argentina

Prism a Medios de Pago S.A. Credit card issuing company 05 -31 -15 15 ,000 432 ,442 371 ,110 Provincanje S.A. Clearing house of provincial banks 12 -31 -14 7,200 5,813 ( 1,571) Deposit insurance fund resource 12-31-14 1,000 27,939 6,206 Seguros de Depósitos S.A. administration Interbanking S.A. Interbank transfer services 12-31-14 1,346 232,398 186,398 Performance bond and settlement of 06-30-15 26,864 106,396 27,649 Mercado a Término de Buenos Aires S.A. agreements of miscellaneous assets Mercado Abierto Electrónico S.A. Coordination of securities trading 12-31-14 242 37,385 12,485 Bolsa de Comercio de Mar del Plata S.A. Coordination of securities trading 12-31-14 13 15,306 1,892 Agent in charge of settling capital market Argencontrol S.A. 12-31-14 700 2,280 645 transactions Electronic clearing account network 12-31-14 1,000 3,874 593 Compensadora Electrónica S.A. management Banelsip S.A. Payment and/or collection electronic service 12-31-14 30 733 697

Non -subsidiaries - Abroad

Banco Latinoamericano de Exportaciones S.A. Foreign bank 12-31-14 1,824,910 7,337,206 623,509 S.W.I.F.T. Interbank telecommunication service 12-31-14 1,147,128 3,385,682 301,368

In other companies – Non -subsidiaries – In

Argentina

Sanatorio Las Lomas S.A. Medical services center 06-30-14 8,889 43,368 10,887 Miralejos S.A.C.F y Agropecuaria Poultry farming 06-30-14 57,082 80,677 11,494

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

57 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

EXHIBIT “F” CHANGES IN PROPERTY, PLANT AND EQUIPMENT, AND MISCELLANEOUS ASSETS AS OF 09/30/15 and 12/31/14 (amounts stated in pesos)

Residual Depreciation for the Changes in values at period Residual Retirements allowances Item beginning of Additions Transfers value as of and fiscal period, 09/30/15 provisions Years of restated Amount useful life

Property, plant and equipment (1)

Real property 161,803 18,373 43,488 - - 50 4,143 219,521 Furniture and fixtures 24,753 15,851 - 351 11,192 10 4,953 46,492

Machinery and equipment 63,287 21,996 - 4 - 5 17,118 68,161

Vehicles 4,363 3,106 - 301 - 5 1,201 5,967

Other 175 - - - - 5 45 130

Total 254,381 59,326 43,488 656 11,192 27,460 340,271

Miscellaneous assets (1) Prepayments for the purchase 9,995 21,916 - 6,404 - - - 25,507 of assets Works of art 1,115 6 - - - - - 1,121

Stationery and office supplies 3,452 4,428 - 6,025 - - - 1,855 Other miscellaneous assets 87,701 839,734 (43,488) 743,823 19 50 238 139,905

Total 102,263 866,084 (43,488) 756,252 19 238 168,388

(1) See note 1.6.k) and 1.6.l)

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

58 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

EXHIBIT “G” BREAKDOWN OF INTANGIBLE ASSETS AS OF 09/30/15 AND 12/31/14 (amounts stated in thousands of pesos)

Amortization for the Residual period Residual value at Item (1) Additions Years of value as of beginning of useful life Amount 09/30/15 year assigned Organization and development expenses 29,572 1,028 5 9,792 20,808 Total 29,572 1,028 9,792 20,808

(1) See note 1.6.m) 3.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

59 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

EXHIBIT “H” DEPOSITS CONCENTRATION AS OF 09/30/15 AND 12/31/14 (amounts stated in pesos)

09/30/15 12/31/14 Number of customers Outstanding % of total Outstanding % of total amount portfolio amount portfolio

10 largest customers 4,789,004 13.94% 3,929,767 14.31%

50 next largest customers 5,408,145 15.74% 4,087,713 14.88%

100 next largest customers 2,668,731 7.77% 2,153,204 7.84%

Rest of customers 21,490,110 62.55% 17,295,987 62.97%

Total 34,355,990 100.00% 27,466,671 100.00%

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

60 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

EXHIBIT “I” BREAKDOWN BY TERM OF DEPOSITS AND OTHER LIABILITIES FROM FINANCIAL INTERMEDIATION AS OF 09/30/15 (amounts stated in thousands of pesos)

Terms remaining to maturity Item Over 24 1 month 3 months 6 months 12 months 24 months Total months

Deposits 28,925,501 4,280,624 901,184 248,253 428 - 34,355,990

Other Liabilities from Financial

Intermediation - BCRA 3,152 1,667 2,500 5,000 10,000 - 22,319

- Banks and International Organizations 401,572 538,765 566,053 249,609 166,406 162,823 2,085,228

- Unsobordinated corporate bonds - - - - 332,200 - 332,200

- Financing facilities received 107,114 - - - - - 107,114 from local financial institutions - Other 2,368,353 584 873 1,387 1,975 2,121 2,375,293

Total Other liabilities from 2,880,191 541,016 569,426 255,996 510,581 164,944 4,922,154 financial intermediation

TOTAL 31,805,692 4,821,640 1,470,610 504,249 511,009 164,944 39,278,144

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

61 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

EXHIBIT “J” CHANGES IN ALLOWANCES AND PROVISIONS AS OF 09/30/15 AND 12/31/14 (amounts stated in thousands of pesos)

Balance at Increase in Decrease in constant currency beginning of Balances as of Breakdown constant period, 09/30/15 currency Reversals Uses restated Deducted from assets

Loans – for uncollectibility risk and 1,110,986 318,010 - 254,512 1,174,484 impairment in value

Other receivables from financial intermediation – for uncollectibility risk and 5,687 904 - 1,708 4,883 impairment in value

Receivables from financial leases – for 14,470 5,658 - - 20,128 uncollectibility risk and impairment in value

Miscellaneous receivables – for 7,674 2,005 - 811 8,868 uncollectibility risk

Total 1,138,817 326,577 - 257,031 1,208,363

Included in liabilities

Contingent commitments 259 114 - 123 250

Other contingencies 92,090 15,599 917 16,860 89,912 Administrative, disciplinary and criminal - 534 - 500 34 sanctions Total 92,349 16,247 917 17,483 90,196

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

BANCO PATAGONIA S.A.

EXHIBIT “K” CAPITAL STRUCTURE AS OF 09/30/15 (amounts stated in thousands of pesos)

Shares (1) Capital stock

Votes per Issued (1) Class Amount Paid-in (1) share Outstanding In portfolio (2) Class “A” shares of common stock 22,768,818 1 22,769 - 22,769 Class “B” shares of common stock 696,495,919 1 696,376 120 696,496 Total 719,264,737 719,145 120 719,265

1) See Note 9. 2) Deposited with Caja de Valores S.A. through the depositor Patagonia Valores S.A.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

63 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

EXHIBIT “L” BALANCES IN FOREIGN CURRENCY AS OF 09/30/15 AND 12/31/14 (amounts stated in thousands of pesos)

Head office Total as Total as and Pound Swiss ITEMS of Euro US dollar Yen Other of branches in sterling franc 09/30/15 12/31/14 Argentina ASSETS Cash 2,261,733 2,261,733 96,934 2,126,171 1,773 2,334 10,719 23,802 2,301,424 Government and corporate 1,347,196 1,347,196 - 1,347,196 - - - - 337,831 securities Loans 2,669,303 2,669,303 5,150 2,664,153 - - - - 1,330,310 Other receivables from financial 175,488 175,488 810 174,678 - - - - 252,729 intermediation

Receivables from financial leases 1,041 1,041 - 1,041 - - - - 1,789

Investments in other companies 107,189 107,189 31 107,158 - - - - 96,369

Miscellaneous receivables 391 391 - 391 - - - - 5,301 Total 6,562,341 6,562,341 102,925 6,420,788 1,773 2,334 10,719 23,802 4,325,753 LIABILITIES Deposits 1,695,901 1,695,901 41,811 1,654,090 - - - - 1,452,705 Other liabilities from financial 3,044,686 3,044,686 14,728 3,021,485 658 7 7,795 13 1,489,796 intermediation Miscellaneous liabilities 75 75 - 75 - - - - 31 Total 4,740,662 4,740,662 56,539 4,675,650 658 7 7,795 13 2,942,532 MEMORANDUM ACCOUNTS Debit-balance Contingent 4,525,077 4,525,077 46,224 4,478,853 - - - - 5,316,362 Control 4,373,566 4,373,566 25,949 4,347,617 - - - - 3,459,791 Total 8,898,643 8,898,643 72,173 8,826,470 - - - - 8,776,153 Credit-balance Contingent 568,057 568,057 9,170 558,887 - - - - 373,279 Control 7,110 7,110 4,024 3,086 - - - - 7,065 Total 575,167 575,167 13,194 561,973 - - - - 380,344

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A

EXHIBIT “N” CREDIT ASSISTANCE TO RELATED PARTIES AS OF 09/30/15 AND 12/31/14 (amounts stated in thousands of pesos)

Total Item Performing 09/30/15 12/31/14

324,269 324,269 188,993 1. Loans

10,098 10,098 19,158 Overdrafts

10,098 10,098 19,158 - Without preferred guarantees or counter-guarantees Notes 131,329 131,329 143,879

- With “B” preferred guarantees or counter-guarantees 5,846 5,846 5,217

- Without preferred guarantees or counter-guarantees 125,483 125,483 138,662

Personal 835 835 100

- Without preferred guarantees or counter-guarantees 835 835 100

Credit cards 3,909 3,909 2,817

- Without preferred guarantees or counter-guarantees 3,909 3,909 2,817

Other 178,098 178,098 23,039

- Without preferred guarantees or counter-guarantees 178,098 178,098 23,039

2. Other receivables from financial intermediation 1,047 1,047 35,960

3. Contingent obligations 25,722 25,722 20,064

4. Investments in Other Companies 924,303 924,303 722,607

Total 1,275,341 1,275,341 967,624

Allowances 3,253 3,253 2,250

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with Signed for identification purposes with

our report dated 11/09/2015 our report dated 11/09/2015

Supervisory Audit Committee KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mónica M. Cukar Mauricio G. Eidelstein (Socio) Supervisory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66 65

Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A

EXHIBIT “O” DERIVATIVE FINANCIAL INSTRUMENTS AS OF 09/30/15 (amounts stated in thousands of pesos)

Weighted average term Negotiation Type of Purpose of Underlying Type of environment Originally Calculation of Amount contract transactions asset settlement or counter- Residual agreed differences party - in months - - in months - - in days -

Daily Intermediation Foreign Futures settlement of MAE 6 5 1 5,083,404 on own account currency differences

Daily Intermediation Foreign Futures settlement of ROFEX 5 4 1 691,966 on own account currency differences Negotiation between Upon Parties - Intermediation Foreign Forwards maturity of Residents in 6 5 142 3,189,840 on own account currency differences Argentina – Non-financial sector Negotiation between Parties - Intermediation Swaps Other Other Residents in 24 - 30 2,929 on own account Argentina – Financial sector Argentine Delivery of Repo Intermediation government underlying MAE - - 1 707,557 transactions on own account securities asset

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with Signed for identification purposes with

our report dated 11/09/2015 our report dated 11/09/2015

Supervisory Audit Committee KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mónica M. Cukar Mauricio G. Eidelstein (Socio) Supervisory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66 66 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Art. 33 – Law No. 19550) AS OF 09/30/15 AND 12/31/14 (amounts stated in thousands of pesos)

ASSETS 09/30/15 12/31/14

A. Cash and due from banks Cash on hand 1,905,030 1,965,572 Financial institutions and correspondents 5,372,430 4,634,871 BCRA 4,378,408 3,936,633 Other in Argentina 4,128 5,184 Other abroad 989,894 693,054 7,277,460 6,600,443

B. Government and corporate securities Holdings booked at fair market value 2,911,826 2,080,955 Government securities from repo transactions with the BCRA - 102,182 Holdings booked at cost plus yield 117,414 84,624 Instruments issued by the BCRA 6,576,883 4,010,100 Investments in listed corporate securities 147 6,730 9,606,270 6,284,591

C. Loans To the nonfinancial government sector (Exhibit 1) 168,784 171,823 To the financial sector (Exhibit 1) 678,760 504,931 Interbank loans (call options granted) 50,000 20,000 Other financing facilities granted to local financial institutions 576,600 461,882 Accrued interest, adjustments and listed-price differences receivable 52,160 23,049 To the nonfinancial private sector and foreign residents (Exhibit 1) 29,994,182 24,700,991 Overdrafts 5,903,366 4,748,631 Notes 13,068,261 10,104,004 Mortgage loans 33,327 41,595 Car loans 1,719,517 1,452,772 Personal loans 3,657,547 3,192,498 Credit cards 4,445,593 3,479,382 Other 865,728 1,361,673 Accrued interest, adjustments and listed-price differences receivable 399,435 398,570 (Documented interest) ( 98,592) ( 78,134) (Allowances) ( 1,207,169) ( 1,144,158) 29,634,557 24,233,587

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with Signed for identification purposes with

our report dated 11/09/2015 our report dated 11/09/2015

Supervisory Audit Committee KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mónica M. Cukar Mauricio G. Eidelstein (Socio) Supervisory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66 67 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Art. 33 – Law No. 19550) AS OF 09/30/15 AND 12/31/14 (amounts stated in thousands of pesos)

ASSETS – Continued 09/30/15 12/31/14

D. Other Receivables from Financial Intermediation BCRA 749,534 507,565 Amounts receivable from spot sales to be settled and forward sales 989,729 188,548 Securities and foreign currency from spot sales to be settled and forward sales 408,029 593,024 Unlisted corporate bonds (Exhibit 1) 82,568 60,360 Unsettled amounts of forward transactions without delivery of underlying asset 74,387 180,943 Other not covered by Debtor Classification Standards 132,585 90,103 Other covered by Debtor Classification Standards (Exhibit 1) 181,880 327,700 Accrued interest and adjustments covered by Debtors Classification Standards (Exhibit 1) 399 722 (Allowances) ( 8,698) ( 9,185) 2,610,413 1,939,780

E. Receivables from Financial Leases Receivables from financial leases (Exhibit 1) 1,268,391 1,021,911 Accrued interest and adjustments receivable (Exhibit 1) 11,539 9,740 (Allowances) ( 20,128) ( 14,470) 1,259,802 1,017,181

F. Investments in Other Companies In financial institutions 173 157 Other 5,701 5,772 5,874 5,929

G. Miscellaneous Receivables Sale of fixed assets (Exhibit 1) - 17,823 Other 607,649 465,149 Accrued interest and adjustments receivable related to other receivables – sale of fixed - 1,704 assets (Exhibit 1) Other accrued interest and adjustments receivable 239 287 (Allowances) ( 8,972) ( 7,792) 598,916 477,171

H. Property, plant and equipment 347,950 261,278

I. Miscellaneous assets 168,388 102,263

J. Intangible assets Organization and development expenses 20,808 29,572 20,808 29,572

K. Items pending allocation 7,947 9,305

TOTAL ASSETS 51,538,385 40,961,100

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with Signed for identification purposes with

our report dated 11/09/2015 our report dated 11/09/2015

Supervisory Audit Committee KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mónica M. Cukar Mauricio G. Eidelstein (Socio) Supervisory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66 68 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Art. 33 – Law No. 19550) AS OF 09/30/15 AND 12/31/14 (amounts stated in thousands of pesos)

LIABILITIES 09/30/15 12/31/14

L. Deposits Nonfinancial government sector 2,626,142 2,991,496 Financial sector 9,597 168,475 Nonfinancial private sector and foreign residents 32,138,804 24,661,997 Checking accounts 6,012,411 5,204,313 Savings accounts 7,771,335 6,446,168 Time deposit 16,266,553 11,658,486 Investment accounts 350,615 1,688 Other 1,329,523 1,162,867 Accrued interest, adjustments and listed-price differences payable 408,367 188,475 34 ,774 ,543 27 ,821 ,968 M. Other liabilities from financial intermediation BCRA 22,319 29,517 Banks and international organizations 2,085,228 679,515 Unsubordinated corporate bonds 1,057,478 1,235,401 Amounts payable for spot purchases to be settled and forward purchases 392,296 549,089 Securities and foreign currency to be delivered under spot sales to be settled and 1,055,135 189,476 forward sales Financing facilities received from local financial institutions 160,143 301,446 Interbank (call options received) 140,000 301,000 Other financing facilities from local financial institutions 20,000 - Accrued interest payable 143 446 Unsettled amounts of forward transactions without delivery of underlying asset 220 - Other not covered by debtor classification standards 2,550,863 2,413,584 Accrued interest, adjustments and listed-price differences payable 47,974 43,353 7,371,656 5,441,381 N. Miscellaneous liabilities Dividends payable 1,044 ,608 - Fees 2,883 10,657 Other 1,296,037 1,256,327 2,343,528 1,266,984

O. Provisions 91,028 100,622

Q. Items pending allocation 4,372 3,748

Minority interests in consolidated institutions and companies 7,392 5,801

TOTAL LIABILITIES 44,592,519 34,640,504

SHAREHOLDERS’ EQUITY 6,945,866 6,320,596

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 51,538,385 40,961,100

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with Signed for identification purposes with

our report dated 11/09/2015 our report dated 11/09/2015

Supervisory Audit Committee KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mónica M. Cukar Mauricio G. Eidelstein (Socio) Supervisory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66 69 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Art. 33 – Law No. 19550) AS OF 09/30/15 AND 12/31/14 (amounts stated in thousands of pesos)

MEMORANDUM ACCOUNTS 09/30/15 12/31/14

DEBIT BALANCE

Contingent Loans obtained (unused amounts) 115,948 103,394 Guarantees received 13,057,862 13,788,483 Other not covered by debtor classification standards 558 558 Contingent debit-balance contra accounts 1,910,118 1,639,204 15,084,486 15,531,639

Control Receivables classified as irrecoverable 562,428 450,962 Other 25,540,460 15,340,506 Control debit-balance contra accounts 3,520,863 3,369,828 29,623,751 19,161,296

Derivatives Notional value of forward transactions without delivery of underlying asset 4,803,461 3,085,873 Interest rate swap 2,929 8,785 Derivative debit-balance contra accounts 4,161,749 3,094,456 8,968,139 6,189,114

Trust activity Trust funds 1,249,760 1,346,634 1,249 ,760 1,346 ,634

DEBIT-BALANCE MEMORANDUM ACCOUNTS 54,926,136 42,228,683

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with Signed for identification purposes with

our report dated 11/09/2015 our report dated 11/09/2015

Supervisory Audit Committee KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mónica M. Cukar Mauricio G. Eidelstein (Socio) Supervisory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66 70 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Art. 33 – Law No. 19550) AS OF 09/30/15 AND 12/31/14 (amounts stated in thousands of pesos)

MEMORANDUM ACCOUNTS – Continued 09/30/15 12/31/14

CREDIT BALANCE

Contingent Loans granted (unused amounts) covered by debtor classification standards (Exhibit 1) 1,119,291 1,052,417 Other guarantees provided covered by debtor classification standards (Exhibit 1) 176,410 178,708 Other guarantees provided not covered by debtor classification standards 81,279 55,812 Other covered by debtor classification standards (Exhibit 1) 306,350 168,133 Other not covered by debtor classification standards 226,788 184,134 Contingent credit-balance contra accounts 13,174,368 13,892,435 15 ,084 ,486 15 ,531 ,639

Control Checks and securities to be credited 660,630 734,925 Other 2,860,233 2,634,903 Control credit-balance contra accounts 26,102,888 15,791,468 29 ,623 ,751 19 ,161 ,296

Derivatives Notional value of forward transactions without delivery of underlying asset 4,161,749 3,094,456 Derivatives credit-balance contra accounts 4,806,390 3,094,658 8,968,139 6,189,114

Trust activity Trust activity credit-balance contra accounts 1,249,760 1,346,634 1,249,760 1,346,634

TOTAL CREDIT-BALANCE MEMORANDUM ACCOUNTS 54,926,136 42,228,683

The accompanying notes 1 to 9 and Exhibit 1 are an integral part of these consolidated financial statements.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with Signed for identification purposes with

our report dated 11/09/2015 our report dated 11/09/2015

Supervisory Audit Committee KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mónica M. Cukar Mauricio G. Eidelstein (Socio) Supervisory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66 71 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

CONSOLIDATED STATEMENTS OF INCOME (Art. 33 – Law No. 19550) for the nine-month periods ended 09/30/15 and 30/09/14 (amounts stated in thousands of pesos)

BREAKDOWN 09/30/15 30/09/14

A. FINANCIAL INCOME Interest on cash and due from banks - 7 Interest on loans to the financial sector 140,732 119,766 Interest on overdrafts 1,144,725 1,092,332 Interest on notes 1,634,761 1,441,157 Interest on mortgage loans 3,646 4,884 Interest on car loans 292,409 287,112 Interest on credit card loans 720,329 470,024 Interest on other loans 1,044,318 885,566 Interest on other receivables from financial intermediation 1,554 2,912 Interest on financial leases 160,287 125,386 Net income from government and corporate securities 1,814,656 927,048 Income from secured loans – Presidential Decree No. 1,387/01 361 66 Adjustments under CER clause 2,021 4,373 Gold and foreign currency quoted price difference 205,087 536,158 Other 171,260 602,222 7,336 ,146 6,499 ,013

B. FINANCIAL EXPENSE Interest on savings-account deposits 2,486 1,933 Interest on time deposits 2,535,347 2,188,250 Interest on interbank loans received (call options received) 17,732 4,842 Interest on other financing facilities from financial institutions 28,591 4,781 Interest on other liabilities from financial intermediation 187,074 343,070 Other interest 81,927 20,683 Adjustments under CER clause 29 86 Contribution to the deposit guarantee fund 157,219 31,257 Other 367,911 346,067 3,378,316 2,940,969

GROSS INTERMEDIATION MARGIN 3,957 ,830 3,558 ,044

C. CHARGE FOR LOAN LOSSES 334,154 235,331

D. SERVICE-CHARGE INCOME Related to lending transactions 538,658 413,688 Related to borrowing transactions 744,836 600,548 Other fees 84,053 63,338 Other 535,137 424,103 1,902,684 1,501,677

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with Signed for identification purposes with

our report dated 11/09/2015 our report dated 11/09/2015

Supervisory Audit Committee KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mónica M. Cukar Mauricio G. Eidelstein (Socio) Supervisory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66 72 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

CONSOLIDATED STATEMENTS OF INCOME (Art. 33 – Law No. 19550) for the nine-month periods ended 09/30/15 and 30/09/14 (amounts stated in thousands of pesos)

BREAKDOWN 09/30/15 30/09/14

E. SERVICE-CHARGE EXPENSE Fees 104,825 91,716 Other 414,077 302,257 518,902 393,973

G. ADMINISTRATIVE EXPENSES Personnel expenses 1,526,735 1,095,557 Directors and supervisory auditors’ fees 36,704 18,873 Other professional fees 58,245 42,941 Advertising 63,501 39,783 Taxes 173,815 120,050 Depreciation of property, plant and equipment 28,123 20,793 Organization expenses amortization 9,792 9,263 Other operating expenses 371,154 269,400 Other 203,975 152,022 2,472 ,044 1,768 ,682

NET INCOME (LOSS) FROM FINANCIAL INTERMEDIATION 2,535,414 2,661,735

MINORITY INTEREST ( 1,590) ( 1,022)

I. OTHER EARNINGS Income from long-term investments 42,673 56,686 Punitive interest 14,371 13,762 Receivables recovered and allowances reversed 67,537 21,178 Other 75,285 61,167 199 ,866 152 ,793

J. OTHER LOSSES Punitive interest and charges payable to the BCRA 9 21,818 Charge for uncollectibility of miscellaneous receivables, and other allowances 17,846 21,811 Losses and depreciation of miscellaneous assets 238 388 Other 30,240 44,298 48,333 88,315

NET INCOME BEFORE INCOME TAX 2,685,357 2,725,191

L. INCOME TAX 1,015,479 1,002,831

NET INCOME FOR THE PERIOD 1,669,878 1,722,360

The accompanying notes 1 to 9 and Exhibit 1 are an integral part of these consolidated financial statements.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with Signed for identification purposes with

our report dated 11/09/2015 our report dated 11/09/2015

Supervisory Audit Committee KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mónica M. Cukar Mauricio G. Eidelstein (Socio) Supervisory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66 73 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

CONSOLIDATED STATEMENTS OF CASH FLOWS AND CASH EQUIVALENTS (Art. 33 – Law No. 19550) for the nine-month periods ended 09/30/15 and 30/09/14 (amounts stated in thousands of pesos)

Changes in cash and cash equivalents 09/30/15 30/09/14

Cash at beginning of year 6,600,443 5,949,704 Cash at period-end 7,277,460 5,500,519 Net increase/(decrease) in cash 677,017 ( 449,185)

Causes of changes in cash and cash equivalents

Operating activities

Net collections / (payments) for:

Government and private securities ( 480,640) (3,135,064)

Loans ( 524,253) 2,169,329 - To the financial sector ( 33,097) ( 13,147) - To the nonfinancial government sector 5,421 35,481 - To the nonfinancial private sector and foreign residents ( 496,577) 2,146,995

Other receivables from financial intermediation ( 556,812) 327,916

Receivables from financial leases ( 87,923) 166,105

Deposits 4,063,754 1,887,744 - From the financial sector ( 158,878) 121 - From the nonfinancial government sector ( 365,354) 440,517 - From the nonfinancial private sector and foreign residents 4,587,986 1,447,106

Other liabilities from financial intermediation ( 406,833) ( 395,671) - Financial sector or interbank loans (call options received) ( 179,035) ( 23,648) - Other (except for the obligations included under financing activities) ( 227,798) ( 372,023)

Collections related to service-charge income 1,888,741 1,577,778 Payments related to service-charge expense ( 518,909) ( 394,899) Administrative expenses paid (2,304,965) (1,937,317) Punitive interest collections/(payments) 14,362 ( 8,056) Payments of organization and development expenses ( 1,028) ( 6,142) Collection of dividends from other companies 35,298 34,935 Other payments related to other earnings and expenses ( 85,650) ( 52,587) Net payments of other operating activities ( 363,555) ( 327,685) Income tax paid (1,137,115) ( 691,028)

Net cash flow used in operating activities ( 465,528) ( 784,642)

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with Signed for identification purposes with

our report dated 11/09/2015 our report dated 11/09/2015

Supervisory Audit Committee KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mónica M. Cukar Mauricio G. Eidelstein (Socio) Supervisory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66 74 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

CONSOLIDATED STATEMENTS OF CASH FLOWS AND CASH EQUIVALENTS (Art. 33 – Law No. 19550) for the nine-month periods ended 09/30/15 and 30/09/14 (amounts stated in thousands of pesos)

09/30/15 30/09/14 Investing activities

Net payments for property, plant, and equipment ( 55,844) ( 25,645) Net payments for miscellaneous assets ( 91,198) ( 70,220) Collections for purchase-sale of interests in other companies - 13,367

Net cash flow used in investing activities ( 147,042) ( 82,498)

Financing activities

Net collections / (payments) for: Unsubordinated Corporate Bonds ( 359,460) (404,079) BCRA ( 7,500) ( 7,500) Banks and International Organizations 1,387,831 387,125 Financing facilities from local financial institutions 20,000 -

Payment of dividends - (451,852)

Net cash flow provided by / (used in) financing activities 1,040,871 (476,306)

Financial and holding gain-loss on cash and cash equivalents 248,716 894,261 (including interest and monetary gain (loss))

Net increase/(decrease) in cash 677,017 (449,185)

The accompanying notes 1 to 9 and Exhibit 1 are an integral part of these consolidated financial statements.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with Signed for identification purposes with

our report dated 11/09/2015 our report dated 11/09/2015

Supervisory Audit Committee KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mónica M. Cukar Mauricio G. Eidelstein (Socio) Supervisory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66 75 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS CONSOLIDATED WITH SUBSIDIARIES FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (ART. 33 – LAW No. 19550) (stated in thousands of pesos)

NOTE 1: Significant accounting policies related to the information

Banco Patagonia S.A. has prepared the consolidated financial statements in accordance with the criteria established by BCRA Communication “A” 2227 and supplementary rules. To such effect, as of September 30, 2015, and December 31, 2014, it has consolidated the statement of financial position and Exhibit 1 “Financing facilities classified by status and guarantees received”, and as of September 30, 2015 and 2014, the statements of income, and cash flows, with the financial statements of the following companies:

Shares Percentage of Company Total capital Class Number Possible votes stock Common Patagonia Valores S.A. 13,862,667 99.99% 99.99% stock Patagonia Inversora S.A. Sociedad Common 13,317,237 99.99% 99.99% Gerente Fondos Comunes de Inversión stock Common Banco Patagonia (Uruguay) S.A. I.F.E. 50,000 100.00% 100.00% stock Common GPAT Compañía Financiera S.A. 86,837,083 99.00% 99.00% stock

Banco Patagonia S.A.’s Board of Directors considers that no other companies are required to be included in the consolidated financial statements as of September 30, 2015.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Mónica M. Cukar Mauricio G. Eidelstein (Partner) Statutory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° 120 F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66

76 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS CONSOLIDATED WITH SUBSIDIARIES FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (ART. 33 – LAW No. 19550) (stated in thousands of pesos)

NOTE 2: Accounting methods used

The consolidated financial statements have been prepared based on the information included in the stand-alone financial statements of each one of the companies being consolidated, which were substantially prepared based on methods similar to those used by the Bank to prepare its financial statements. For the purposes of reporting the accounting methods used, please refer to the notes to the following financial statements:

Financial Company Date of issuance Note statements as of Banco Patagonia S.A. 09/30/2015 11/09/2015 1

Patagonia Valores S.A. 09/30/2015 11/09/2015 1 Patagonia Inversora S.A. Sociedad Gerente Fondos 09/30/2015 11/09/2015 1 Comunes de Inversión Banco Patagonia (Uruguay) S.A.I.F.E. 09/30/2015 10/19/2015 3

GPAT Compañía Financiera S.A. 09/30/2015 11/09/2015 1

NOTE 3: Restricted assets

The companies included in these consolidated financial statements held the following restricted assets:

Banco Patagonia S.A.

See note 6 to Banco Patagonia S.A.’s stand-alone financial statements.

Patagonia Valores S.A.

As of September 30, 2015, and December 31, 2014, the Company held one share in Mercado de Valores S.A. as security for the transactions performed thereby, valued at restated cost in the amount of 2,064.

Patagonia Inversora S.A. Sociedad Gerente de Fondos Comunes de Inversión

As of September 30, 2015, and December 31, 2014, the Company has no restricted assets.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with Signed for identification purposes with

our report dated 11/09/2015 our report dated 11/09/2015

Supervisory Audit Committee KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mónica M. Cukar Mauricio G. Eidelstein (Socio) Supervisory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66 77 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS CONSOLIDATED WITH SUBSIDIARIES FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (ART. 33 – LAW No. 19550) (stated in thousands of pesos)

Banco Patagonia (Uruguay) S.A.I.F.E.

As of September 30, 2015 and December 31, 2014 the Bank keeps with the Central Bank of Uruguay a deposit in the amount of 4,710 and 4,276, respectively, related to the mandatory settlement of assets in the Republic of Uruguay, in accordance with section 221 of the Consolidation of Rules on Regulation and Control of the Financial System of the Central Bank of Uruguay.

GPAT Compañía Financiera S.A.

As of September 30, 2015, and December 31, 2014, the Company has no restricted assets.

NOTE 4: Derivative financial instruments

Banco Patagonia S.A.

See note 12 to Banco Patagonia S.A.’s stand-alone financial statements.

NOTE 5: Transformation of Banco Patagonia (Uruguay) S.A.I.F.E. into “Bank” as per Uruguayan Law No. 15322

On May 9, 2011, the Board of Directors of Banco Patagonia (Uruguay) S.A.I.F.E. approved the bank’s transformation into “Bank” under the term of Uruguayan Law No. 15332 and requested the authorization thereof to the Ministry of Economy and Finance of Uruguay and the Central Bank of Uruguay.

To the date of issuance of these financial statements, those authorizations are still pending approval.

NOTE 6: Sanctions imposed and proceedings filed by the BCRA

On January 8, 2015, the BCRA issued Communication “A” 5689 by which it established that financial institutions shall book and report the administrative, disciplinary and criminal sanctions imposed by the BCRA, the UIF, the CNV or the SSN, with judgment rendered in a court of original jurisdiction. All the sanctions shall be taken into account, and an allowance shall be set up for 100% of each sanction, which shall be kept until the payment is made or a final judgment is rendered.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with Signed for identification purposes with

our report dated 11/09/2015 our report dated 11/09/2015

Supervisory Audit Committee KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mónica M. Cukar Mauricio G. Eidelstein (Socio) Supervisory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66 78 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS CONSOLIDATED WITH SUBSIDIARIES FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (ART. 33 – LAW No. 19550) (stated in thousands of pesos)

Banco Patagonia S.A.

See Note 19 to the stand-alone financial statements of Banco Patagonia S.A.

GPAT Compañía Financiera S.A.

As of September 30, 2015, GPAT Compañía Financiera S.A. has not received any notice of administrative, disciplinary or criminal sanctions, or any proceedings.

NOTE 7: Capital Markets Law

On December 27, 2012, Capital Markets Law No. 26831, regulated by Executive Decree No. 1023/13, issued on July 29, 2013, became effective. This Law considers the comprehensive reform of the current public offering system (Law No. 17811) which came into force on January 28, 2013.

Finally, through General Resolution No. 622/13 issued on September 9, 2013, and subsequent administrative criteria, the CNV adjusts its rules to respond to new circumstances, for the purposes of securing the normal performance of the various agents operating in the Capital Market, with the aim of ensuring compliance with the principles established in the new Capital Market Law.

Banco Patagonia S.A.

The Bank was registered with the CNV for the purposes of acting in the following capacities:

- Financial and non-financial trustee: authorized through Resolution No. 17418, issued by the CNV on August 8, 2014.

- Mutual fund custodian: authorized through Order No. 2081 of the CNV dated September 18, 2014.

- Settlement and clearing agent and comprehensive trading agent: authorized through Order No. 2095 of the CNV dated September 19, 2014.

Patagonia Valores S.A.

- Settlement and Clearing Agent and Comprehensive Trading Agent: authorized through Provision No. 2114 issued by the CNV on November 11, 2014.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with Signed for identification purposes with

our report dated 11/09/2015 our report dated 11/09/2015

Supervisory Audit Committee KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mónica M. Cukar Mauricio G. Eidelstein (Socio) Supervisory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66 79 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS CONSOLIDATED WITH SUBSIDIARIES FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (ART. 33 – LAW No. 19550) (stated in thousands of pesos)

Patagonia Inversora S.A. Sociedad Gerente de Fondos Comunes de Inversión

- Management Agent of Collective Investment Products for Mutual Investment Funds: authorized by CNV Provision No. 2013, dated August 7, 2014.

Besides, the Management of Banco Patagonia S.A. and its subsidiaries perform the follow-up on the scope and contents of the amendment mentioned in the above paragraphs, in order to identify and determine an eventual impact on its financial position which should have to be disclosed in the financial statements for to future periods.

NOTE 8: Distribution of earnings

Banco Patagonia S.A.

See Note 18 to the stand-alone financial statements of Banco Patagonia S.A.

Patagonia Valores S.A.

The Annual Shareholders’ Meeting held on April 22, 2015 for fiscal year ended December 31, 2014, approved the following distribution of earnings:

Legal Reserve (5% of 2,526 ) 126 Optional Reserve – Future distribution of earnings 2,400 Total 2,526

Patagonia Inversora S.A. Sociedad Gerente de Fondos Comunes de Inversión S.A.

The Annual Shareholders’ Meeting held on April 22, 2015 for fiscal year ended December 31, 2014, approved the following distribution of earnings:

Legal Reserve (5% of 16,645 ) 832 Optional Reserve – Future distribution of earnings 15,813 Total 16,645

GPAT Compañía Financiera S.A.

The Annual Shareholders’ Meeting held on April 21, 2015 for fiscal year ended December 31, 2014, approved the following distribution of earnings:

Legal Reserve (20% of 157,424 ) 31,485 Optional Reserve – Future distribution of earnings 125,939 Total 157,424

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with Signed for identification purposes with

our report dated 11/09/2015 our report dated 11/09/2015

Supervisory Audit Committee KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mónica M. Cukar Mauricio G. Eidelstein (Socio) Supervisory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66 80 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

NOTES TO THE FINANCIAL STATEMENTS CONSOLIDATED WITH SUBSIDIARIES FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015 (ART. 33 – LAW No. 19550) (stated in thousands of pesos)

NOTE 9: Context of the financial market

At a local level, an increased volatility in the value of government and corporate securities, interest rates as well as in certain variables of the economy has been noted.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with Signed for identification purposes with

our report dated 11/09/2015 our report dated 11/09/2015

Supervisory Audit Committee KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mónica M. Cukar Mauricio G. Eidelstein (Socio) Supervisory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66 81 Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

EXHIBIT “1” (Art. 33 – Law No. 19550) FINANCING FACILITIES CLASSIFIED BY STATUS AND GUARANTEES RECEIVED AS OF 09/30/15 AND 12/31/14 (amounts stated in thousands of pesos)

Commercial loan portfolio 09/30/15 12/31/14

Performing 21,842,712 18,432,731

Subject to special monitoring 236,459 162,664

In observation 66,470 129,577

- With “B” preferred guarantees and counter-guarantees 50,033 102,296 - Without preferred guarantees or counter-guarantees 16,437 27,281

In negotiation or under refinancing agreements 169,989 33,087

- With “B” preferred guarantees and counter-guarantees 125,738 29,556 - Without preferred guarantees or counter-guarantees 44,251 3,531

Troubled 13,107 5,636

- With “B” preferred guarantees and counter-guarantees 7,008 778 - Without preferred guarantees or counter-guarantees 6,099 4,858

With high risk of insolvency 10,280 26,505

Irrecoverable 108,214 111,469

Total commercial loan portfolio 22,210,772 18,739,005

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public

Sector Area

Signed for identification purposes with Signed for identification purposes with

our report dated 11/09/2015 our report dated 11/09/2015

Supervisory Audit Committee KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mónica M. Cukar Mauricio G. Eidelstein (Socio) Supervisory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66 82

Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

CONTINUED

EXHIBIT “1” (Art. 33 – Law No. 19550) FINANCING FACILITIES CLASSIFIED BY STATUS AND GUARANTEES RECEIVED AS OF 09/30/15 AND 12/31/14 (amounts stated in thousands of pesos)

Consumer and/or home loan portfolio 09/30/15 12/31/14

Performing 11,279,479 8,876,639

- With “A” preferred guarantees and counter-guarantees 53,836 33,697 - With “B” preferred guarantees and counter-guarantees 2,018,291 1,725,950 - Without preferred guarantees or counter-guarantees 9,207,352 7,116,992

Low risk 180,974 228,372

- With “A” preferred guarantees and counter-guarantees 920 230 - With “B” preferred guarantees and counter-guarantees 43,964 54,758 - Without preferred guarantees or counter-guarantees 136,090 173,384

Medium risk 48,256 69,614

- With “B” preferred guarantees and counter-guarantees 8,633 12,271 - Without preferred guarantees or counter-guarantees 39,623 57,343

High risk 178,054 186,293

- With “B” preferred guarantees and counter-guarantees 3,143 3,139 - Without preferred guarantees or counter-guarantees 174,911 183,154

Irrecoverable 90,872 116,869

- With “B” preferred guarantees and counter-guarantees 667 994 - Without preferred guarantees or counter-guarantees 90,205 115,875

Irrecoverable according to BCRA regulations 147 171

- With “B” preferred guarantees and counter-guarantees 58 95 - Without preferred guarantees or counter-guarantees 89 76

Total consumer and/or home loan portfolio 11,777,782 9,477,958

Total General 33,988,554 28,216,963

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public

Sector Area

Signed for identification purposes with Signed for identification purposes with

our report dated 11/09/2015 our report dated 11/09/2015

Supervisory Audit Committee KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mónica M. Cukar Mauricio G. Eidelstein (Socio) Supervisory Auditor Public Accountant (U.B.A.) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 C.P.C.E.C.A.B.A. T° 147 F° 66 83

Translation from the original prepared in Spanish for publication in Argentina

Reporting summary For the nine-month period ended September 30, 2015

Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

REPORTING SUMMARY FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015

a) Relevant aspects:

At the end of the 3Q2015, Banco Patagonia recorded Assets in the amount of $ 49,986.2 million, Loans in the amount of $ 27,934.6 million, Deposits in the amount of $ 34,356.0 million, and a Shareholders’ Equity of $ 6,945.9 million. At the consolidated level, it recorded Assets in the amount of $ 51,538.4 million, Loans in the amount of $29,634.6 million, and Deposits in the amount of $ 34,774.5 million.

Net income for the nine-month period ended September 30, 2015 totaled $ 1,669.8 million, with a ROE of 33.6 % (return on average equity), and a ROA of 4.8 % (return on average assets).

Loans granted to the non-financial private sector on a consolidated basis amounted to $ 29,994.2 million, accounting for an increase of 27.4 % compared to 3Q14 ($ 23,538.5 million).

Consolidated total deposits amounted to ARS 34,774.5 million, which accounts for an increase of 27.9 % compared to 3Q14 ($ 27,188.6 million),

Regarding portfolio quality ratios, the non-performing portfolio ratio is 1.3 %, and coverage with provisions on the non-performing loan portfolio was 275.4%.

The consolidated liquidity ratio was 48.6 % (liquid assets on total deposits). In addition, the minimum consolidated capital is $ 3,312.5 million in excess of the amount required by BCRA regulations.

On September 28, 2015, the BCRA authorized the payment of $ 1,044.6 million as cash dividends for fiscal year 2014, which had been approved by Banco Patagonia S.A.’s Annual and Extraordinary General Shareholders' Meeting held on April 23, 2015. Such cash dividends were made available to the shareholders on October 15, 2015.

As of September 30, 2015, Banco Patagonia S.A. employs 3,352 people, and has a wide network made up of 197 customer desks all over the country, distributed in the capital and major cities of each province.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with

our report dated 11/09/2015

KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mauricio G. Eidelstein (Socio) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 1

Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A. REPORTING SUMMARY FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015

b) Comparative consolidated financial position

Consolidated Statement of Financial Position In Millions of Pesos 09/30/15 09/30/14 09/30/13 09/30/12 09/30/11 Cash and due from banks 7,277.5 5,500.5 4,453.1 3,371.0 2,246.5 Government and corporate securities 9,606.3 6,525.0 1,525.2 1,711.1 2,221.0 Loans 29,634.6 23,529.4 20,400.9 15,045.5 10,350.4 To the nonfinancial government sector 168.8 252.0 204.1 169.5 108.3 To the financial sector 678.8 829.6 591.8 395.8 415.3 To the nonfinancial private sector 29,994.2 23,538.5 20,343.4 14,902.5 10,008.0 (Allowances) ( 1,207.2) ( 1,090.7) ( 738.4) ( 422.3) ( 181.2) Other receivables from financial 2,610.4 1,750.3 1,880.2 1,038.8 940.3 intermediation Receivables from financial leases 1,259.8 878.7 773.7 498.5 429.5 Other assets 1,149.8 852.3 742.7 764.0 637.9 51,538.4 39,036.2 29,775.8 22,428.9 16,825.6 Total Assets Deposits 34,774.5 27,188.6 21,005.0 15,742.3 12,612.8 Nonfinancial government sector 2,626.1 3,134.2 2,511.0 1,916.9 2,035.4 Financial sector 9.6 15.6 15.4 18.9 19.2 Nonfinancial private sector 32,138.8 24,038.9 18,478.6 13,806.5 10,558.2 Other liabilities from financial intermediation 7,371.7 4,591.1 3,646.6 2,594.3 1,354.3 Other liabilities 2,446.3 1,389.5 882.4 953.5 596.3 44,592.5 33,169.2 25,534.0 19,290.1 14,563.4 Total liabilities 6,945.9 5,867.0 4,241.8 3,138.8 2,262.2 Shareholders’ Equity 51,538.4 39,036.2 29,775.8 22,428.9 16,825.6 Total Liabilities+ Shareholders’ Equity

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with

our report dated 11/09/2015

KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mauricio G. Eidelstein (Socio) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 2

Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A. REPORTING SUMMARY FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015

c) Comparative consolidated statement of income

Information on the nine-month periods ended September 30, 2015, 2014, 2013, 2012, and 2011:

Consolidated Statement of Income In Millions of Pesos 09/30/15 09/30/14 09/30/13 09/30/12 09/30/11 Financial Income 7,336.1 6,499.0 3,693.6 2,552.6 1,455.0 Financial Expenses 3,378.3 2,941.0 1,691.6 903.4 539.0 Gross Intermediation Margin 3,957.8 3,558.0 2,002.0 1,649.2 916.0 Charge for Loan Losses 334.2 235.3 272.6 215.8 48.6 Service-charge Income 1,383.8 1,107.7 942.9 704.9 500.9 Administrative Expenses 2,472.0 1,768.7 1,351.6 1,071.2 813.7 Net Operating Income 2,535.4 2,661.7 1,320.7 1,067.1 554.6 Other Earnings / (Expenses) 149.9 63.5 131.3 57.5 58.6 Income before Income Tax 2,685.3 2,725.2 1,452.0 1,124.6 613.2 Income Tax 1,015.5 1,002.8 576.9 467.9 221.3 Net Income for the Quarter 1,669.8 1,722.4 875.1 656.7 391.9

d) Comparative consolidated statement of cash flows

Information on the nine-month periods ended September 30, 2015, 2014, 2013, 2012, and 2011:

Consolidated Statement of Cash Flows In Millions of Pesos 09/30/15 09/30/14 09/30/13 09/30/12 09/30/11 Funds provided by (used in) operating activities (465.5) (784.6) (527.5) 181.9 568.5

Funds used in investing activities (147.1) ( 82.5) ( 21.1) ( 9.7) ( 10.7) Funds provided by (used in) financing activities 1,040.9 (476.3) 100.6 646.0 ( 8.9) Financial and Holding Income/Loss on Cash and Cash Equivalents 248.7 894.2 282.3 121.9 113.9

Total funds provided (used) in the period 677.0 (449.2) (165.7) 940.1 662.8

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with

our report dated 11/09/2015

KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mauricio G. Eidelstein (Socio) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 3

Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

REPORTING SUMMARY FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015

e) Summary of statistical data

Summary of statistical data 09/30/15 09/30/14 09/30/13 09/30/12 09/30/11 Number of term deposit transactions – Individuals 81,573 35,805 36,657 36,590 42,083 Number of term deposit transactions – Entities 3,305 2,961 3,328 2,707 2,641 Number of loan transactions – Individuals 962,958 974,550 1,012,219 1,062,408 949,706 Number of loan transactions – Entities 95,495 35,746 43,189 36,454 34,077 Number of Branches 197 195 196 181 171 Number of automatic teller machines (ATMs) 543 504 486 440 387 Number of self-service terminals (SSTs) 329 292 254 213 182 Payroll 3,352 3,254 3,264 3,234 3,071

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with our report dated 11/09/2015

KPMG C.P.C.E.C.A.B.A. T° 2 F° 6

Mauricio G. Eidelstein (Socio) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 4

Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

REPORTING SUMMARY FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015

f) Main indicators

Banco Patagonia - Consolidated Breakdown 09/30/15 09/30/14 09/30/13 09/30/12 09/30/11 Profitability Ratios Return on average assets (1) 4.8% 6.3% 4.2% 4.2% 3.4% Return on average shareholders’ equity (2) 33.6% 42.2% 30.6% 30.9% 25.1% Service and Financial Margin Ratios Total financial margin (net financial income / Average Assets) 11.3% 12.9% 9.6% 10.6% 7.8% Margin on net services (net service-charge income / Average 3.9% 4.1% 4.5% 4.5% 4.3% Assets) Total margin (net total income / average assets) (3) 15.2% 16.9% 14.1% 15.1% 12.1% Net service-charge income on net total income (3) 25.9% 24.2% 32.0% 29.9% 35.4% Shareholders’ Equity Rations Shareholders' equity on total assets 13.5% 15.0% 14.2% 14.0% 13.4% Financial standing (shareholders' equity on total liabilities) 15.6% 17.7% 16.6% 16.3% 15.5% Total liabilities as a multiple of shareholders' equity 6.4 5.7 6.0 6.1 6.4 RPC on risk-weighted assets (4) 15.3% 17.2% 19.1% 19.3% 20.9% Portfolio Quality Ratio Non-performing portfolio on financing (before allowances) (5) 1.3% 1.8% 1.5% 1.0% 0.8% Allowances on non-performing financing portfolio (5) 275.4% 224.5% 208.1% 254.0% 199.2% Efficiency Ratio Administrative expenses on total net income (3) 46.3% 37.9% 45.9% 45.5% 57.4% Net service-charge income on administrative expenses 56.0% 63.7% 69.8% 65.8% 61.6% Liquidity Ratios Liquid Assets on deposits (6) 48.6% 44.2% 28.5% 32.3% 35.4% Loans (net of allowances) on assets 57.5% 60.3% 68.5% 67.1% 61.5% Deposits on liabilities 78.0% 82.0% 82.3% 81.6% 86.6% Loans on deposits 85.2% 86.5% 97.1% 95.6% 82.1% Fixed assets to equity (7) 7.7% 7.0% 8.4% 9.8% 12.3%

(1) Defined as the quotient bet ween income for the year / annualized period and average assets calculated according to monthly balances. (2) Defined as the quotient between income for the year / annualized period and average shareholders' equity calculated according to monthly balances. (3) Total net income defined as the sum of financial income and net service-charge income.

(4) RPC means computable equity.

(5) Non-performing portfolio is defined as loans classified as 3 – 4 – 5 and 6 condition. (6) Defined as the quotient between the sum of cash and cash equivalents and government and corporate securities and total deposits. (7) Defined as the quotient between the sum of fixed, sundry and intangible assets and shareholders' equity.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with

our report dated 11/09/2015

KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mauricio G. Eidelstein (Socio) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 5

Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A.

REPORTING SUMMARY FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015

g) Outlook

In 2015, the international scenario will continue to show little changes and low dynamism. Although the external conditions are not favorable to Argentina, they do not have a significant impact on the terms of trade.

At the regional level, Brazil will remain to be important to our country given the size of its economy, its closeness and the strong relationship generated by its foreign trade.

For the rest of 2015, the variables associated with the activity are expected to remain constant.

Banco Patagonia will continue to develop the strategic initiatives and pursue the objectives defined for 2015, including:

• To strengthen its position as one of the leading institutions of the Argentine Financial System, and continue to develop its businesses as a universal bank, rendering services to all client segments.

• To keep on promoting the diversification and growth of its client base by attracting and retaining clients from the Open Market, and offering employee salary payment services to private firms.

• To continue developing close business relationships within the Corporate segment, focusing on Brazilian owned companies and multinational companies doing business in both markets (Argentina/Brazil).

• Support projects for the development of different customer service channels, such as the Network of Branches in all the provinces of the country, and e-channels, in an attempt to improve clients’ experience every time they contact the Bank.

• Consolidate its position as a leading bank engaged in the organization, placement, and management of financial trusts, and the issuance of short- and long- term debt.

The Bank’s growth vision is supplemented by its capacity to keep on supporting income generation, capitalization, and the ongoing management of risks and efficient administration of resources and expenses, by continuously improving its processes and implementing technology projects and investments.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with our report dated 11/09/2015

KPMG C.P.C.E.C.A.B.A. T° 2 F° 6

Mauricio G. Eidelstein (Socio) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 6

Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A. REPORTING SUMMARY FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015

Additional information required by section 12 of chapter III, title IV of CNV regulations (General Resolution No. 622/13)

I. General background on the Company's business

1. Specific and significant legal regimes that entail the contingent loss or acquisition of legal benefits.

None.

2. Significant amendments to the company's business or other similar circumstances occurring during the periods included in the financial statements that affect their comparability to prior- year financial statements, or that might affect their comparability to financial statements to be published in the future.

None.

3. Classification of loan (financing) and debt (deposits and liabilities) balances as per their maturities.

See Exhibit D – “Financing facilities broken down by term”, and Exhibit I – “Breakdown by term of deposits and other liabilities from financial intermediation” to Banco Patagonia S.A.’s standalone financial statements.

4. Classification of loans (financing) and debts (deposits and liabilities) to disclose their financial effects Local currency Foreign currency Item With CER With no With With no Kind In thousands of pesos interest Adjustme interest interest interest clause nt Clause clause clause clause Financing Loans 28,151,255 21,168 - 2,669,303 - - Other Receivables from Financial 1,226,193 - 819,117 160,968 4,804 408,029 Intermediation

Receivables from Financial 1,278,889 - - 1,041 - - Leases Miscellaneous Receivables 111,946 - 495,175 - 767 - TOTAL 30,768,283 21,168 1,314,292 2,831,312 5,571 408,029

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with

our report dated 11/09/2015

KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mauricio G. Eidelstein (Socio) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 7

Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A. REPORTING SUMMARY FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015

Local currency Foreign currency Item With CER Wit h no With With no Kind In thousands of pesos interest Adjustme interest interest interest clause nt Clause clause clause clause

Deposits and Liabilities Deposits 25,497,239 - 7,159,765 2,093,797 23,742 -

Other Liabilities from 1,642,628 - 1,954,789 2,100,491 618,613 1,055,135 Financial Intermediation Miscellaneous Liabilities - - 2,341,428 - 2,100 - TOTAL 27,139,867 - 11,455,982 4,194,288 644,455 1,055,135

5. Breakdown of ownership interest and votes in companies under section 33 of Law No. 19550 and debit and/or credit balances per company.

See Exhibit E – “Breakdown of investments in other companies”, and Note 8 - Transactions with Companies included in section 33, Law No. 19550 to Banco Patagonia S.A.’s standalone financial statements.

6. Trade receivables or loans with directors, supervisory auditors, members of the supervisory audit committee, and relatives up to and including the second degree

Financing Maximum In thousands of pesos 09/30/15 Financing Directors and relatives 1,750 1,849 Supervisory auditors and relatives 49 57 TOTAL 1,799 1,906

Such financial aid is represented by loans in pesos, granted under similar terms and conditions as those applied to the other clients of the Bank, with no monetary adjustment clause.

II. Physical count of inventories

7. Frequency and scope of physical counts of inventories.

Not applicable.

III. Current values

8. Current values used for the valuation of inventories, fixed assets, and other significant assets.

There are no fixed assets and miscellaneous assets stated at current value.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with

our report dated 11/09/2015

KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mauricio G. Eidelstein (Socio) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 8

Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A. REPORTING SUMMARY FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015

Fixed assets

9. Fixed assets subject to technical revaluation.

None.

10. Fixed assets not used due to obsolescence.

None.

IV. Investments in other companies

11. Investments in other companies exceeding the limits established in section 31, Law No. 19550, and plans to regularize the situation.

None.

V. Recoverable value

12. Criteria followed to assess the significant "recoverable value" of inventories, fixed assets, and other assets, used as a limit to their valuation for accounting reporting purposes.

To assess the "recoverable value", the Bank considers the net realizable value based on the condition of assets.

VI. Insurance

13. Insurance taken in relation to intangible assets.

Property insured Amount Risk Book value In thousands of pesos insured

Fraud, theft, security deposit boxes, Cash, checks, and securities 131,869 1,904,175 and transportation

Buildings, machines, equipment, furniture, Fire, vandalism, and earthquake 1,690,780 361,941 fixtures, and works of art

Cars All risk and third-party insurance 11,227 5,967

Liability, medical, and bodily injury Aircraft 489,798 - insurance - Furniture, computers, signs, and telephony Transportation of goods 38,619

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with

our report dated 11/09/2015

KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mauricio G. Eidelstein (Socio) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 9

Translation from the original prepared in Spanish for publication in Argentina

BANCO PATAGONIA S.A. REPORTING SUMMARY FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2015

VII. Negative and positive contingencies

14. Items considered to calculate the allowances, the balances of which considered either individually or as a whole, exceed two percent (2%) of the shareholders' equity

See Note 1.6.g) “Allowance for loan losses, provision for contingent commitments and provision for other contingencies” to Banco Patagonia S.A.’s standalone financial statements.

15. Contingencies as of the date of the financial statements the likelihood of occurrence of which is not remote, and the financial effects of which have not been recorded, stating whether lack of accounting is based on the likelihood of occurrence or on any difficulties in quantifying its effects.

None.

VIII. Irrevocable contributions for future subscriptions

16. Status of procedures aimed at capitalization.

None.

17. Unpaid cumulative dividends on preferred shares.

None.

18. Conditions, circumstances, or terms for the removal of restrictions on the distribution of unappropriated retained earnings.

See Note 18 – “Distribution of earnings” to Banco Patagonia S.A.’s standalone financial statements.

Marcelo A. Iadarola Juan D. Mazzón João Carlos de Nobrega Pecego Executive Manager Superintendent President Administration, Accounting and Taxes Finance, Administration and Public Sector

Area

Signed for identification purposes with

our report dated 11/09/2015

KPMG

C.P.C.E.C.A.B.A. T° 2 F° 6

Mauricio G. Eidelstein (Socio) Public Accountant (U.B.A.) C.P.C.E.C.A.B.A. T° CXX F° 228 10

SUPERVISORY AUDIT COMMITTEE’S REPORT ON INTERIM FINANCIAL STATEMENTS

To the Shareholders and Directors of Banco Patagonia S.A. Legal address: Av. de Mayo 701, Floor 24 Taxpayer Identification No. [C.U.I.T.] 30-50000661-3 City of Buenos Aires

Report on the financial statements

We have examined the accompanying interim financial statements of Banco Patagonia S.A. (“the Bank”), which include the statement of financial position as of September 30, 2015, the statements of income, changes in shareholders’ equity and cash flows for the nine-month period then ended, Notes 1 to 29, and Exhibits A to L, N and O. We have also examined the accompanying consolidated financial statements of Banco Patagonia S.A. and its subsidiaries, which include the consolidated statement of financial position as of September 30, 2015, and the consolidated statements of income and cash flows for the nine-month period then ended, Notes 1 to 9, and Exhibit 1, which are presented as supplementary information.

Board of Directors’ and Management responsibility for the financial statements

Supervisory Audit Committee’s responsibility

Our responsibility is to express a conclusion on the accompanying interim financial statements based on our review. We performed this examination in accordance with supervisory audit rules in force. These rules require that the above-mentioned documents be examined according to effective auditing standards. We have not performed any management control operations, and thus we have not reviewed the management, financing and marketing criteria and resolutions, which are the exclusive responsibility of the Board of Directors. To perform our professional task on the documents mentioned in paragraph 1, we have reviewed the audit conducted by the firm KPMG, in their capacity as external auditors, who issued their report on November 9, 2015, in accordance with the standards set forth by Technical Resolution No. 37 of the Argentine Federation of Professional Councils of Economic Sciences (“FACPCE”) and the “Minimum Standards applicable to External Audits” set forth by the BCRA for the review of interim financial statements. In accordance with such standards, a review is limited primarily to the performance of analytical and other review procedures applied to financial data included in the interim financial statements and inquiries of personnel responsible for the preparation thereof. A review is substantially less in scope than an audit conducted in accordance with auditing standards in force, and, consequently, does not enable us to obtain assurance that we would

become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion on the interim financial statements.

Conclusion

Based on our review, and on the report dated November 9, 2015, issued by Mauricio G. Eidelstein (Partner of KPMG, member firm of KPMG International), nothing has come to our attention that causes us to believe that the accompanying interim financial statements are not presented fairly, in all material respects, in accordance with accounting standards set forth by the BCRA.

Other accounting matters

Without modifying our opinion, we draw users’ attention to the information presented in Note 3 to the accompanying stand-alone financial statements, where it is stated that such financial statements have been prepared by the Bank’s Board of Directors and Management in compliance with the accounting standards set forth by the BCRA, which differ in terms of certain valuation and presentation criteria from the professional accounting standards in force in the City of Buenos Aires, Argentina, described in Note 3.

Report on other legal and regulatory requirements

In compliance with legal provisions in force, we report that:

1. The accompanying interim financial statements have been transcribed into the Inventory Book, and arise from the Bank’s accounting records, which, in their formal aspects, are kept pursuant to the legal provisions in force;

2. In exercise of our legal supervision duties, during the nine-month period ended September 30, 2015, we have performed the remaining procedures set forth in section 294 of Law 19550 that we considered necessary in accordance with the circumstances and, in this respect, we have no observations to make.

3. As of September 30, 2015, the Bank records the minimum shareholders’ equity and counterparty required by the Argentine Securities Commission (CNV), as mentioned in Note 16 to the stand- alone accompanying financial statements;

City of Buenos Aires, November 9, 2015.

By Supervisory Audit Committee

Mónica M. Cukar Regular Supervisory Auditor Public Accountant (UBA) C.P.C.E.C.A.B.A. T° 147 F° 66