Attributable net loss narrowed sequentially, while CET1 remained strong at 15.4%

Excluding extraordinary severance charges, net income was AR$6.7 billion

Operating trends improved supported by lower cost of risk, funding optimization and continued efficiency gains

Grupo Supervielle S.A. (NYSE:SUPV, BYMA: SUPV)), ("Supervielle" or the "Company") a universal financial services group headquartered in Argentina with a nationwide presence, today reported results for the three-month period ended March 31, 2026.

Starting 1Q20, the Company began reporting results applying Hyperinflation Accounting, in accordance with IFRS rule IAS 29 ("IAS 29") as established by the Central Bank.

Commenting on first quarter 2026 results, Patricio Supervielle, Grupo Supervielle's Chairman & CEO, noted: "The first quarter marked an early but important step in our earnings recovery, supported by improving asset quality trends and continued progress in aligning our operating model with evolving client behavior. During the quarter, we implemented a headcount rightsizing plan reflecting the structural shift toward a more efficient distribution model, with a growing share of customer activity migrating to digital and virtual hub service channels. Excluding the related extraordinary severance charges, we delivered net income of AR$6.7 billion, or approximately 2.5% adjusted ROAE. Our capital ratio remained solid at 15.4%, in line with December 31, 2025, while we reported a AR$17.1 billion net loss in the quarter.

We maintained a disciplined approach to balance sheet deployment, prioritizing profitability and asset quality, with a continued focus on risk-adjusted growth. Asset quality showed encouraging signs of stabilization, with delinquency trends improving through March and net cost of risk easing to 6% from the 10% reported in the prior quarter, supported by collection and refinancing initiatives implemented since December 2025, reinforcing our view that the peak in cost of risk was reached in the fourth quarter of 2025. In this context, loans declined 5.6% sequentially, reflecting subdued credit demand in local currency alongside our disciplined and selective origination approach, with a clear focus on profitable growth. On the funding side, deposits decreased 4.7% quarter-on-quarter, primarily driven by a deliberate reduction in higher-cost wholesale peso funding, as we continued to improve the quality and stability of our deposit base. In turn, both U.S. loans and deposits continued to increase in original currency terms. Net interest margin stood at 17.7% for the quarter, well above the levels observed during the peak of monetary tightening in 3Q25, supported by a more stable rate environment, with interest rates declining in March.

Importantly, March represented a clear inflection point, as underlying monthly earnings turned positive before the impact of the retirement plan, reaching AR$16.6 billion, supported by more stable interest rate conditions, improving financial risk dynamics and continued moderation in credit charges. This trend has extended into April, with margins and asset quality showing early signs of stabilization. While the NPL ratio stood at 5.6% at quarter-end, compared to 5.0% in December, it improved sequentially in March versus February, reflecting an early inflection in asset quality trends. At the same time, the plan positions us for a structurally leaner cost base going forward.

From a macro perspective, the operating environment remained challenging in the first quarter, with higher inflation and still-tight monetary conditions, but the backdrop became more stable toward the end of the period. Greater visibility on interest rates, and continued policy progress are beginning to support a more predictable environment for funding costs, margins and, over time, a recovery in credit demand.

During the quarter, we continued to advance our ecosystem strategy, deepening integration between the Bank and IOL and scaling cross-selling initiatives. The launch of ‘Cuenta Hit IOL' at the Bank, supported strong client acquisition momentum, with a peak of 13,000 new accounts in March. IOL continued to expand its platform, with assets under custody reaching US$2.7 billion, while also enhancing its value proposition through innovation, including the recent launch of new artificial intelligence capabilities that allow clients to connect their preferred AI platform to their accounts, allowing them to interact, analyze and manage their investments in a more intuitive and integrated way. These initiatives reflect our focus on building a more agile, client-centric and scalable platform.

Looking ahead, we remain constructive on the remainder of 2026. The quarter confirmed that underlying profitability is recovering, that credit costs are moving off their peak, and that our strategic actions are beginning to translate into a more efficient and resilient earnings profile. At the same time, the recent staff-level agreement with the IMF provides additional external validation that reform momentum is strengthening, with continued progress on fiscal discipline, key legislation and the monetary framework, supporting a more stable and predictable macro environment. With a strong capital base, a structurally improving cost trajectory, disciplined risk management and a clear focus on profitable growth, Grupo Supervielle is well positioned to strengthen returns as Argentina's financial system continues to normalize," concluded Mr. Supervielle.

First quarter 2026 Highlights

PROFITABILITY

The Company reported an Attributable Net Loss of AR$17.1 billion in 1Q26 compared to a Net Loss of AR$21.4 billion in 4Q25 and a net gain of AR$ 10.5 billion in 1Q25. During the quarter, the Company implemented a headcount rightsizing plan at its Banking business ecosystem to align with its shift toward a more efficient distribution model, with a growing share of customer activity migrating to digital and virtual hub service channels. The plan included as of March 31, 2026, 9% of the headcount. Excluding the related extraordinary severance charges, the Company posted Adjusted Net Income of AR$6.7 billion.

Operating conditions during 1Q26 evolved gradually, following two periods of heightened financial volatility. January and February saw lower but still volatile interest rates, which constrained credit demand and financial intermediation. Conditions improved toward the end of the quarter, particularly in March, as greater visibility on the monetary policy framework contributed to a more stable interest rate environment, easing funding costs and supporting stabilization. In this context, quarterly profitability reflected the normalization of financial income following the strong performance in 4Q25, when market‑related results benefited from the recovery in investment portfolio valuations after election‑related volatility. Net financial margins declined sequentially but remained broadly in line with levels observed earlier in 2025 and well above those recorded during the peak of monetary tightening in 3Q25. Operating expenses increased sequentially, primarily reflecting extraordinary personnel costs associated with the implementation of the headcount rightsizing plan.

Loan loss provisions declined significantly from the previous quarter, reflecting easing delinquency trends through January, February and March and the early impact of portfolio management, collections and refinancing initiatives undertaken since late 2025, together with a disciplined and cautious origination strategy. While asset quality indicators remained above December levels, their trajectory during the quarter suggested an early inflection in portfolio performance. On a year‑on‑year ("YoY") basis, provisioning levels continued to reflect a challenging macroeconomic environment and the increase in delinquency levels across industry.

Overall, first quarter results reflect a transitional period, with underlying earnings trends improving toward the end of the quarter amid greater macro‑financial stability, early signs of asset quality stabilization and continued progress on efficiency initiatives. This was partially offset by extraordinary restructuring costs. 1Q26 ROAE was -6.2% while adjusted ROAE was 2.4%. ROAA was -0.8%.

In 1Q26, the Company reported a Loss before income tax of AR$22.4 billion, compared to losses before income tax of AR$40.7 billion in 4Q25 and AR$95.9 billion in 3Q25. This loss includes AR$36.6 billion in extraordinary personnel expenses associated with the headcount rightsizing plan. Excluding the extraordinary severance cost, Profit before income tax was AR$ 14.2 billion.

During 1Q26, the Net Financial Margin totaled AR$254.7 billion in 1Q26, declining 5.3% QoQ while increasing 9.5% YoY. The sequential performance reflects margin normalization following two highly volatile quarters. Both 3Q25 and 4Q25 were marked by elevated market volatility, with 4Q25 representing a particularly high comparison base, as investment portfolio yields recovered the losses recorded in 3Q25 after election‑related volatility subsided. Lower interest rates in 1Q26 helped stabilize the net financial margin at levels comparable to 1Q25 and 2Q25. During the quarter, yields on government securities and loan accrual rates declined in line with the prevailing interest rate environment, and funding costs eased, reversing from prior volatility. January and February were characterized by volatile interest rates that weighed on credit demand, while March benefited from improved liquidity and market conditions, supporting margins toward quarter-end. Client Net Financial Income increased 2.5% QoQ and was broadly stable YoY, supported by lower funding costs despite weaker credit demand and a more gradual pace of loan repricing. Market‑related Net Financial Income declined 17.5% QoQ due to lower investment portfolio yields versus the unusually high levels in 4Q25 but remained 31.3% higher YoY.

Net Interest Margin (NIM) was 17.7% in 1Q26, declining 100 bps QoQ and 150 bps YoY, but well above the levels observed during the peak of monetary tightening in 3Q25. AR$ NIM was at 20.7% in 1Q26, declining 66 bps QoQ and 14 bps YoY. The sequential contraction primarily reflects lower peso investment portfolio gains following an unusually strong performance in 4Q25, which benefited from the recovery in the valuation of peso‑denominated securities after the heightened volatility observed in 3Q25. This was partially mitigated by improvements in funding costs, mainly in March. Total NIM was affected by lower yields from U.S. dollar‑denominated portfolios when converted to pesos, reflecting exchange rate appreciation during the quarter.

YoY, the decline in NIM reflects narrower loan spreads driven by a lower share of retail lending, together with a higher proportion of dollar‑denominated positions on the balance sheet.

The total NPL ratio was 5.6% at the end of 1Q26, up from 5.0% in December 2025, reflecting the carry‑over of credit stress from prior quarters in a challenging macroeconomic environment. Delinquency indicators decelerated in February and eased slightly in March, suggesting an early inflection point in portfolio performance. This sequential improvement reflects better collection and refinancing dynamics driven by active portfolio management and a disciplined origination strategy, particularly in the retail segment since early 2025.

Loan loss provisions (LLPs) declined 43.0% QoQ to AR$67.6 billion in 1Q26. This reduction in LLPs is consistent with easing delinquency trends throughout the quarter and reflects early benefits from collection and refinancing initiatives implemented since December 2025, together with disciplined risk-adjusted loan origination. LLPs peaked in 4Q25, when cumulative credit stress and a less supportive macroeconomic backdrop, along with updates to macroeconomic assumptions under the ECL framework, drove elevated charges.

The Coverage Ratio was 103.9% as of March 31, 2026, compared to 111.6% as of December 31, 2025, and 152.7% as of March 31, 2025.

Efficiency ratio was 68.9% in 1Q26, reflecting the impact of extraordinary personnel expenses related to the implementation of a voluntary retirement and headcount rightsizing plan, along with lower revenues versus the prior quarter. Personnel expenses included AR$36.6 billion in extraordinary severance and early retirement costs. Excluding these items, personnel expenses would have declined approximately 11% QoQ and Efficiency ratio would have been 55.8%, underscoring continued cost discipline and structural efficiency gains. These effects were partially offset by a 18.3% QoQ reduction in administrative expenses as commercial and advertising normalized after elevated levels in 4Q25.

The Loans to Deposits Ratio was 77.1% as of March 31, 2026, compared to 77.8% as of December 31, 2025, and 66.5% as of March 31, 2025.

Total Deposits were AR$5,340.4 billion at quarter-end, decreasing 4.7% QoQ and increasing 8.6% YoY. The sequential decline was driven by deliberate deleveraging of peso‑denominated institutional funding, seasonal declines in checking account balances and the negative translation effect from peso appreciation on U.S. dollar deposits. U.S. dollar deposits increased 6.1% in dollar term, but declined 8.1% when translated to pesos due to the peso appreciation during the period. Total private sector deposits were AR$4,993.9 billion, declining 8.5% QoQ and increasing 5.3% YoY in real terms. AR$ deposits totaled AR$3,617.0 billion, decreasing 2.9% QoQ and 3.4% YoY in real terms.

Foreign currency deposits amounted to US$1.2 billion, increasing 6.1% QoQ and 51.0% YoY.

Total Assets were AR$8,154.8 billion as of March 31, 2026, decreasing 4.4% QoQ and increasing 14.6% YoY. The sequential decline mainly reflected balance sheet deleveraging, lower liquidity requirements following the late-2025 easing of reserve requirements -although reserve levels remained elevated- and the translation impact of peso appreciation on U.S.-dollar assets.

The leverage ratio (Assets to Shareholders' Equity) was 7.5x, down 20 bps QoQ, from 7.7x as of December 31, 2025, and increased 150 bps YoY, from 6.0x as of March 31, 2025.

Total Loans amounted to AR$4,115.1 billion as of March 31, 2026, decreasing 5.6% QoQ but increasing 25.8% YoY and 156.9% since March 31, 2024. Loans growth since March 31, 2024 has significantly outpaced the industry's 130% increase, and YoY growth exceeded the industry's 18.0% gain.

The sequential decline was primarily driven by a 6.4% reduction in peso‑denominated loans, reflecting seasonality and prudent credit origination policies. In addition, the peso appreciation during the quarter negatively impacted the AR$ value of U.S.- dollar loans. While U.S.- dollar loans increased 12.8% when in dollar terms, they declined 2.4% in peso terms due to FX translation.

Common Equity Tier 1 Ratio (CET1) stood at 15.4% as of March 31, 2026, unchanged from the prior quarter and 10 basis points higher than a year earlier.

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ir-gruposupervielle@gruposupervielle.com.ar