BANCO DE GALICIA Y BUENOS AIRES S.A. Page 1 of 96

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1 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 1 of 96 A N N U A L F I N A N C I A L S T A T E M E N T S For the fiscal year from January 1, 2017 to December 31, 2017, presented in comparative format. NAME: BANCO DE GALICIA Y BUENOS AIRES S.A. Free translation of an original version written and expressed in Spanish. LEGAL DOMICILE: Tte. Gral. Juan D. Perón City of Buenos Aires. PRINCIPAL LINE OF BUSINESS: Domestic Capital Private-Sector Commercial Bank. OF BYLAWS: November 21, DATE OF REGISTRATION WITH THE COMMERCIAL COURT OF RECORD OF THE FIRST AMENDMENT TO THE BYLAWS: and subsequent amendments, the latest being on No. 13,976 - Book 85 (Note 13). REGISTRATION NUMBER WITH THE ARGENTINE SUPERINTENDENCY OF CORPORATIONS: 167,488. EXPIRY OF COMPANY'S BYLAWS: June 30, 2100 INFORMATION ON CONTROLLED COMPANIES: See Schedule E and Note 14 to the Financial Statements and in Notes to the Consolidated Financial Statements (Sec Law No. 19,550). CAPITAL STATUS: See Schedule K and note 13. NAME OF THE CONTROLLING COMPANY: Grupo Financiero Galicia S.A. LEGAL DOMICILE: PRINCIPAL LINE OF BUSINESS: Tte. Gral. Juan D. Perón 430, 25 floor - Autonomous City of Buenos Aires - Argentina. Financial and Investment Activities. PERCENTAGE OF EQUITY INTEREST HELD BY THE CONTROLLING COMPANY: 100% (Note 1). PERCENTAGE OF VOTES TO WHICH THE CONTROLLING COMPANY IS ENTITLED: 100% (Note 1).

2 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 2 of 96 A N N U A L F I N A N C I A L S T A T E M E N T S TABLE OF CONTENTS CONSOLIDATED FINANCIAL STATEMENTS... Page 3 to 21 INDIVIDUAL FINANCIAL STATEMENTS... Page 22 to 89 ADDITIONAL INFORMATION... Page 90 to 91 INFORMATIVE REVIEW... Page 92 to 96 INDEPENDENT AUDITOR S REPORT REPORT OF THE SUPERVISORY COMMITTEE

3 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 3 of 96 CONSOLIDATED BALANCE SHEET (Section 33 Law No. 19,550) For the fiscal year from January 1, 2017 Supplementary Information to the Annual Financial Statements to December 31, 2017, presented in comparative format FIGURES STATED IN THOUSANDS OF PESOS ASSETS CASH AND DUE FROM BANKS 56,650,611 61,131,992 - CASH 8,978,913 7,456,305 - FINANCIAL INSTITUTIONS AND CORRESPONDENTS 47,671,698 53,675,687 - ARGENTINE CENTRAL BANK 46,951,142 51,389,550 - OTHER LOCAL FINANCIAL INSTITUTIONS 118, ,897 - FOREIGN 601,988 2,105,240 GOVERNMENT AND CORPORATE SECURITIES 36,410,804 12,548,271 - HOLDINGS OF GOVERNMENT SECURITIES RECORDED AT FAIR MARKET VALUE 5,673,870 3,074,883 - HOLDINGS RECORDED AT COST PLUS YIELD 3,890,226 1,922,473 - INVESTMENTS IN QUOTED CORPORATE SECURITIES 11, SECURITIES ISSUED BY THE ARGENTINE CENTRAL BANK 26,835,452 7,550,915 LOANS 197,329, ,450,622 - TO THE NON-FINANCIAL PUBLIC SECTOR TO THE FINANCIAL SECTOR 3,979,358 2,098,037 - INTERBANK LOANS (CALL MONEY LOANS GRANTED) 587, ,300 - OTHER FINANCING TO LOCAL FINANCIAL INSTITUTIONS 3,184,121 1,205,228 - ACCRUED INTEREST, ADJUSTMENTS AND QUOTATION DIFFERENCES RECEIVABLE 208,076 30,509 - TO THE NON-FINANCIAL PRIVATE SECTOR AND RESIDENTS ABROAD 200,020, ,059,237 - ADVANCES 11,334,084 10,063,087 - PROMISSORY NOTES 35,527,757 25,298,418 - MORTGAGE LOANS 5,713,233 2,178,236 - PLEDGE LOANS 1,077, ,879 - PERSONAL LOANS 26,032,761 15,311,721 - CREDIT CARD LOANS 88,192,653 72,765,948 - OTHER 30,448,940 12,653,202 - ACCRUED INTEREST, ADJUSTMENTS AND QUOTATION DIFFERENCES RECEIVABLE 2,649,112 1,774,831 - (UNALLOCATED COLLECTIONS) (33,936) (21,860) - (DOCUMENTED INTEREST) (922,116) (642,225) - ALLOWANCES (6,670,346) (4,706,758) OTHER RECEIVABLES RESULTING FROM FINANCIAL BROKERAGE 32,440,775 18,469,601 - ARGENTINE CENTRAL BANK 3,661,408 2,359,284 - AMOUNTS RECEIVABLE FOR SPOT AND FORWARD SALES TO BE SETTLED 13,112, ,375 - SECURITIES RECEIVABLE UNDER SPOT AND FORWARD PURCHASES TO BE SETTLED 7,215,531 7,851,134 - PREMIUMS FROM BOUGHT OPTIONS - 3,485 - OTHER RECEIVABLES NOT INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 5,030,481 4,610,896 - NEGOTIABLE OBLIGATIONS WITHOUT QUOTATION 1,088,229 1,220,155 - BALANCES FROM FORWARD TRANSACTIONS WITHOUT DELIVERY OF UNDERLYING ASSET TO BE SETTLED 525, ,287 - OTHER RECEIVABLES INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 2,009,833 1,769,308 - ACCRUED INTEREST AND ADJUSTMENTS RECEIVABLE INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 2, ALLOWANCES (204,798) (191,002)

4 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 4 of 96 RECEIVABLES FROM FINANCIAL LEASES 1,678, ,788 RECEIVABLES FROM FINANCIAL LEASES 1,673, ,856 - ACCRUED INTEREST AND ADJUSTMENTS RECEIVABLE 27,123 17,118 - ALLOWANCES (22,246) (14,186) EQUITY INVESTMENTS 179, ,361 - IN FINANCIAL INSTITUTIONS 9,308 7,858 - OTHER 170, ,104 - ALLOWANCES (56) (601) MISCELLANEOUS RECEIVABLES 3,077,864 2,682,267 - RECEIVABLES FOR ASSETS SOLD 123, ,650 - MINIMUM PRESUMED INCOME TAX - TAX CREDIT 8,912 9,424 - OTHER 2,971,474 2,559,874 - ACCRUED INTEREST ON AND ADJUSTMENTS TO RECEIVABLES FOR ASSETS SOLD 476 1,626 - OTHER ACCRUED INTEREST AND ADJUSTMENTS RECEIVABLE 29,283 28,959 - ALLOWANCES (55,782) (43,266) BANK PREMISES AND EQUIPMENT 4,421,610 2,809,289 MISCELLANEOUS ASSETS 621,005 1,218,852 INTANGIBLE ASSETS 3,520,665 2,543,201 - ORGANIZATION AND DEVELOPMENT EXPENSES 3,520,665 2,543,201 UNALLOCATED ITEMS 52,514 64,319 TOTAL ASSETS 336,383, ,057,563

5 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 5 of 96 LIABILITIES DEPOSITS 203,503, ,726,966 - NON-FINANCIAL PUBLIC SECTOR 1,163,816 1,294,177 - FINANCIAL SECTOR 115,152 62,957 - NON-FINANCIAL PRIVATE SECTOR AND RESIDENTS ABROAD 202,224, ,369,832 - CURRENT ACCOUNTS 32,300,455 26,995,121 - SAVINGS ACCOUNTS 101,127,400 53,728,361 - TIME DEPOSITS 65,800,722 49,713,710 - INVESTMENT ACCOUNTS 249, ,665 - OTHER 1,302,261 18,577,409 - ACCRUED INTEREST, ADJUSTMENTS AND QUOTATION DIFFERENCES PAYABLE 1,444, ,566 OTHER LIABILITIES RESULTING FROM FINANCIAL BROKERAGE 81,791,721 58,381,742 - ARGENTINE CENTRAL BANK 15,323 12,727 - OTHER 15,323 12,727 - BANKS AND INTERNATIONAL ENTITIES 5,031,206 2,212,995 - UNSUBORDINATED NEGOTIABLE OBLIGATIONS 15,883,041 13,273,470 - AMOUNTS PAYABLE FOR SPOT AND FORWARD PURCHASES TO BE SETTLED 7,263,293 7,818,144 - SECURITIES TO BE DELIVERED UNDER SPOT AND FORWARD SALES TO BE SETTLED 14,200, ,819 - PREMIUMS FROM WRITTEN OPTIONS - 2,027 - FINANCING FROM LOCAL FINANCIAL INSTITUTIONS 3,031,154 4,095,357 - INTERBANK LOANS (CALL MONEY LOANS RECEIVED) 154, ,000 - OTHER FINANCING FROM LOCAL FINANCIAL INSTITUTIONS 2,834,599 3,800,394 - ACCRUED INTEREST PAYABLE 42, ,963 - BALANCES FROM FORWARD TRANSACTIONS WITHOUT DELIVERY OF UNDERLYING ASSET TO BE SETTLED 584, ,013 - OTHER 35,137,022 29,717,439 - ACCRUED INTEREST, ADJUSTMENTS AND QUOTATION DIFFERENCES PAYABLE 645, ,751 MISCELLANEOUS LIABILITIES 7,909,237 5,233,058 - DIRECTORS' AND SYNDICS' FEES 36,855 40,446 - OTHER 7,872,382 5,192,612 PROVISIONS 654, ,354 SUBORDINATED NEGOTIABLE OBLIGATIONS 4,828,018 4,065,255 UNALLOCATED ITEMS 30,029 42,408 MINORITY INTERESTS 1,845,472 1,349,903 TOTAL LIABILITIES 300,562, ,151,686 SHAREHOLDERS' EQUITY 35,820,720 18,905,877 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 336,383, ,057,563

6 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 6 of 96 MEMORANDUM ACCOUNTS DEBIT 540,570, ,740,719 CONTINGENT 53,255,337 38,610,674 - LOANS OBTAINED (UNUSED BALANCES) 1,628, ,794 - GUARANTEES RECEIVED 34,887,729 25,370,435 - CONTINGENCIES DEBIT-BALANCE CONTRA ACCOUNTS 16,738,765 12,640,445 CONTROL 434,231, ,926,662 - UNCOLLECTIBLE LOANS 2,873,722 3,347,678 - OTHER 428,272, ,972,028 - CONTROL DEBIT- BALANCE CONTRA ACCOUNTS 3,085,289 2,606,956 DERIVATIVES 44,166,804 29,020,684 - "NOTIONAL" VALUE OF PUT OPTIONS BOUGHT - 149,512 - "NOTIONAL" VALUE OF FORWARD TRANSACTIONS WITHOUT DELIVERY OF UNDERLYING ASSET 20,812,517 16,359,075 - INTEREST RATE SWAPS 1,000 75,000 - DERIVATIVES DEBIT- BALANCE CONTRA ACCOUNTS 23,353,287 12,437,097 TRUST ACCOUNTS 8,916,957 8,182,699 - TRUST FUNDS 8,916,957 8,182,699 CREDIT 540,570, ,740,719 CONTINGENT 53,255,337 38,610,674 - LOANS GRANTED - UNUSED BALANCES - INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 11,465,185 9,094,205 - GUARANTEES GRANTED TO THE ARGENTINE CENTRAL BANK - 473,528 - OTHER GUARANTEES GRANTED INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 2,375,979 1,134,828 - OTHER GUARANTEES GRANTED NOT INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 314, ,695 - OTHER INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 1,815,117 1,236,641 - OTHER NOT INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 768, ,548 - CONTINGENCIES CREDIT-BALANCE CONTRA ACCOUNTS 36,516,572 25,970,229 CONTROL 434,231, ,926,662 - CHECKS AND DRAFTS TO BE CREDITED 3,084,228 2,559,608 - OTHER 1,061 47,348 - CONTROL CREDIT-BALANCE CONTRA ACCOUNTS 431,146, ,319,706 DERIVATIVES 44,166,804 29,020,684 - "NOTIONAL" VALUE OF CALL OPTIONS WRITTEN - 174,663 - "NOTIONAL" VALUE OF FORWARD TRANSACTIONS WITHOUT DELIVERY OF UNDERLYING ASSET 23,353,287 12,262,434 - DERIVATIVES CREDIT-BALANCE CONTRA ACCOUNTS 20,813,517 16,583,587 TRUST ACCOUNTS 8,916,957 8,182,699 - TRUST LIABILITIES CREDIT-BALANCE CONTRA ACCOUNTS 8,916,957 8,182,699

7 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 7 of 96 CONSOLIDATED INCOME STATEMENT (Section 33 - Law No. 19,550) For the fiscal year from January 1, 2017 Supplementary Information to the Annual Financial Statements FIGURES STATED IN THOUSANDS OF PESOS to December 31, 2017, presented in comparative format FINANCIAL INCOME 44,088,416 36,210,969 - INTEREST ON CASH AND DUE FROM BANKS INTEREST ON LOANS GRANTED TO THE FINANCIAL SECTOR 606, ,615 - INTEREST ON ADVANCES 2,755,753 3,088,702 - INTEREST ON PROMISSORY NOTES 5,557,827 5,321,048 - INTEREST ON MORTGAGE LOANS 370, ,490 - INTEREST ON PLEDGE LOANS 125,348 88,314 - INTEREST ON CREDIT CARD LOANS 16,735,450 14,178,035 - INTEREST ON FINANCIAL LEASES 309, ,612 - INTEREST ON OTHER LOANS 8,736,939 5,288,675 - NET INCOME FROM GOVERNMENT AND CORPORATE SECURITIES 5,013,437 5,502,032 - INTEREST ON OTHER RECEIVABLES RESULTING FROM FINANCIAL BROKERAGE 59,809 51,515 - NET INCOME FROM SECURED LOANS-DECREE No. 1387/01 1, CER ADJUSTMENT 246,670 6,025 - OTHER 1,513, ,242 - QUOTATION DIFFERENCES ON GOLD AND FOREIGN CURRENCY 2,054, ,647 FINANCIAL EXPENSES 20,326,451 20,144,576 - INTEREST ON CURRENT ACCOUNT DEPOSITS INTEREST ON SAVINGS ACCOUNT DEPOSITS 6,380 4,644 - INTEREST ON TIME DEPOSITS 10,572,987 13,071,721 - INTEREST ON SUBORDINATED OBLIGATIONS 349, ,823 - OTHER INTEREST 543,017 58,018 - INTEREST ON INTERBANK LOANS RECEIVED (CALL MONEY LOANS) 51,957 35,988 - INTEREST ON OTHER FINANCING FROM FINANCIAL INSTITUTIONS 579, ,919 - NET LOSS FROM OPTIONS 1,458 28,893 - INTEREST ON OTHER LIABILITIES RESULTING FROM FINANCIAL BROKERAGE 3,864,589 2,956,179 - CONTRIBUTIONS TO THE DEPOSIT INSURANCE FUND 277, ,515 - CER ADJUSTMENT 49,532 6,602 - OTHER 4,029,227 2,948,274 GROSS FINANCIAL MARGIN 23,761,965 16,066,393 LOAN LOSS PROVISION 5,204,993 3,533,313 INCOME FROM SERVICES 21,397,639 16,617,671 - IN RELATION TO LENDING TRANSACTIONS 3,489,205 2,936,523 - IN RELATION TO BORROWING TRANSACTIONS 3,558,710 2,533,181 - OTHER COMMISSIONS 1,033, ,118 - OTHER 13,315,990 10,493,849 EXPENSES FOR SERVICES 6,582,807 5,074,411 - COMMISSIONS 2,268,333 2,083,635 - OTHER 4,314,474 2,990,776 ADMINISTRATIVE EXPENSES 22,148,512 16,974,221 - PERSONNEL EXPENSES 12,076,572 9,358,702 - DIRECTORS' AND SYNDICS' FEES 47,376 53,212 - OTHER FEES 640, ,286 - ADVERTISING AND PUBLICITY 857, ,679 - TAXES 2,210,731 1,620,159 - DEPRECIATION OF PREMISES AND EQUIPMENT 471, ,197 - AMORTIZATION OF ORGANIZATION EXPENSES 651, ,270 - OTHER OPERATING EXPENSES 2,893,741 2,065,600 - OTHER 2,299,753 1,638,116 NET INCOME / (LOSS) FROM FINANCIAL BROKERAGE 11,223,292 7,102,119

8 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 8 of 96 CONSOLIDATED INCOME STATEMENT (Section 33 - Law No. 19,550) For the fiscal year from January 1, 2017 Supplementary Information to the Annual Financial Statements FIGURES STATED IN THOUSANDS OF PESOS to December 31, 2017, presented in comparative format MINORITY INTERESTS RESULTS (640,208) (350,435) MISCELLANEOUS INCOME 1,660,755 1,962,331 - INCOME FROM EQUITY INVESTMENTS 301, ,253 - DEFAULT INTERESTS 601, ,194 - LOANS RECOVERED AND ALLOWANCES REVERSED 463, ,467 - OTHER 283, ,417 - CER ADJUSTMENT 10,305 - MISCELLANEOUS LOSSES 890, ,201 - DEFAULT INTEREST AND CHARGES IN FAVOR OF THE ARGENTINE CENTRAL BANK 889 3,397 - LOAN LOSS PROVISIONS FOR MISCELLANEOUS RECEIVABLES AND OTHER PROVISIONS 159, ,501 - OTHER 712, ,554 - DEPRECIATION OF AND LOSSES ON MISCELLANEOUS ASSETS 1,652 1,245 - AMORTIZATION OF DIFFERENCES ARISING FROM COURT RESOLUTIONS 15,389 12,504 NET INCOME / (LOSS) BEFORE INCOME TAX 11,353,473 8,214,814 INCOME TAX 4,438,630 3,121,109 NET INCOME / (LOSS) FOR THE FISCAL YEAR 6,914,843 5,093,705

9 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 9 of 96 CONSOLIDATES STATEMENT OF CASH FLOWS (Section. 33 Law No. 19,550) For the fiscal year from January 1, 2017 Supplementary Information to the Annual Financial Statements FIGURES STATED IN THOUSANDS OF PESOS to December 31, 2017, presented in comparative format CHANGES IN CASH AND CASH EQUIVALENTS Cash at Beginning of Fiscal Year 71,766,169 42,367,731 Cash at Fiscal Year-end 83,634,728 71,766,169 Net increase in Cash (in constant currency) 11,868,559 29,398,438 CAUSES OF CHANGES IN CASH (IN CONSTANT CURRENCY) Operating Activities Net Collections / (Payments) Related to: - Government and Corporate Securities (47,387) 4,143,521 - Loans - To the Financial Sector (1,771,961) (154,763) - To the Non-Financial Public Sector 1,475 6,123 - To the Non-Financial Private Sector and Residents Abroad (23,564,991) (9,864,543) - Other Receivables Resulting from Financial Brokerage (704,140) (15,897) - Receivables from financial leases (418,362) 292,960 - Deposits - To the Financial Sector 52,195 35,996 - To the Non-Financial Public Sector (130,361) 663,776 - To the Non-Financial Private Sector and Residents Abroad 31,685,854 33,727,300 - Other Liabilities Resulting from Financial Brokerage - Financing from the Financial Sector - Interbank Loans (Call Money Loans Received) (62,845) 1,912 - Others (Except those Liabilities Included in Financial Activities) 5,948,937 4,431,901 Collections Related to Income from Services 21,653,324 16,617,671 Payments Related to Expenses for Services (6,442,928) (4,982,356) Administrative Expenses Paid (21,231,066) (15,862,355) Payment Related to Organization and Development Expenses (1,644,155) (1,273,157) Net Collections / (Payments) Related to Default Interest 584, ,797 Differences Deriving from Court Resolutions Paid (15,389) (12,504) Collection Related to Dividends from Other Companies 252, ,889 Other Collections / (Payments) Related to Miscellaneous Profits and Losses 55, ,901 Net Collections / (Payments) Related to Other Operating Activities - To Other Receivables and Miscellaneous Liabilities (3,437,626) (2,770,770) - To Other Net Operating Activities (154,362) 74,571 Payment of the Income Tax / Minimum Presumed Income Tax (2,295,094) (2,030,429) Net Cash Flow (Used in) / provided by Operating Activities (1,686,830) 23,901,544 Investment Activities Net Collections/ (Payments) Related to Bank Premises and Equipment (901,692) (859,012) Net Collections/ (Payments) Related to Miscellaneous Assets (554,534) (578,598) Collections of Equity Investments Sold 181,913 -

10 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 10 of 96 CONSOLIDATES STATEMENT OF CASH FLOWS (Section. 33 Law No. 19,550) For the fiscal year from January 1, 2017 Supplementary Information to the Annual Financial Statements FIGURES STATED IN THOUSANDS OF PESOS to December 31, 2017, presented in comparative format Other Collections/ (Payments) for Investment Activities (10,051) - - Other (10,051) - Net Cash Flow (Used in) Investment Activities (1,284,364) (1,437,610) Financing Activities Net Collections / (Payments) Related to: - Unsubordinated Negotiable Obligations 176, ,679 -Argentine Central Bank - Other 2,596 5,694 - Banks and International Entities 2,170, ,115 - Subordinated Obligations (342,049) (386,591) - Loans from Local Financial Institutions (1,581,350) 2,482,032 Capital contributions 10,000,000 - Payment of Dividends (97,004) (59,610) Net Cash Flow provided by financing activities Financial Income on Cash and Cash Equivalents (Including Interest and the Monetary Loss) Net Increase in Cash 10,329,136 3,067,319 4,510,617 3,867,185 11,868,559 29,398,438

11 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 11 of 96 CONSOLIDATED STATEMENT OF DEBTORS STATUS (Section 33 Law No. 19,550) For the fiscal year from January 1, 2017 to December 31, 2017, presented in comparative format Supplementary Information to the Annual Financial Statements FIGURES STATED IN THOUSANDS OF PESOS COMMERCIAL PORTFOLIO Normal 86,692,342 55,785,733 With "A" Preferred Collateral and Counter-guarantees 63, ,608 With "B" Preferred Collateral and Counter-guarantees 5,392,043 2,787,547 Without Preferred Collateral or Counter-guarantees 81,236,516 52,880,578 With special follow-up - Under observation 51, ,037 With "B" Preferred Collateral and Counter-guarantees 2,566 50,931 Without Preferred Collateral or Counter-guarantees 48,448 73,106 With problems 156,280 75,354 With "B" Preferred Collateral and Counter-guarantees 99,051 39,697 Without Preferred Collateral or Counter-guarantees 57,229 35,657 High risk of insolvency 184,252 91,686 With "A" Preferred Collateral and Counter-guarantees With "B" Preferred Collateral and Counter-guarantees 55,775 29,696 Without Preferred Collateral or Counter-guarantees 128,477 61,595 Uncollectible 18,915 16,989 With "A" Preferred Collateral and Counter-guarantees 8,366 - With "B" Preferred Collateral and Counter-guarantees 2, Without Preferred Collateral or Counter-guarantees 8,468 16,740 Total commercial portfolio 87,102,803 56,093,799 CONSUMER AND HOUSING PORTFOLIO Normal Situation 127,459,705 94,438,835 With "A" Preferred Collateral and Counter-guarantees 13,508 19,119 With "B" Preferred Collateral and Counter-guarantees 5,298,664 1,318,010 Without Preferred Collateral or Counter-guarantees 122,147,533 93,101,706 Low risk 3,463,730 2,621,212 With "A" Preferred Collateral and Counter-guarantees 1, With "B" Preferred Collateral and Counter-guarantees 25,529 17,422 Without Preferred Collateral or Counter-guarantees 3,436,990 2,603,777 Medium risk 2,238,805 1,700,581 With "B" Preferred Collateral and Counter-guarantees 8,065 12,269 Without Preferred Collateral or Counter-guarantees 2,230,740 1,688,312 High risk 2,862,147 2,005,901 With "A" Preferred Collateral and Counter-guarantees With "B" Preferred Collateral and Counter-guarantees 6,073 10,085 Without Preferred Collateral or Counter-guarantees 2,855,710 1,995,816 Uncollectible 1,446, ,958 With "A" Preferred Collateral and Counter-guarantees With "B" Preferred Collateral and Counter-guarantees 21,775 5,020 Without Preferred Collateral or Counter-guarantees 1,424, ,666 Uncollectible due to technical reasons 7,519 7,160 Without Preferred Collateral or Counter-guarantees 7,519 7,160 Total consumer and housing portfolio 137,478, ,618,647 General Total 224,580, ,712,446

12 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 12 of 96 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS WITH CONTROLLED PARTIES (SEC. 33 OF LAW NO ) FOR THE FOR THE PERIOD FROM JANUARY 1, 2017, TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSAND) NOTE 1 - BASIS OF PRESENTATION OF THE FINANCIAL STATEMENTS DISCLOSURE CRITERIA The Financial Statements, which stem from accounting records, are presented in line with the provisions of the Argentine Central Bank regarding financial reporting requirements for the publication of quarterly and annual financial statements, and with the guidelines of the General Resolution No. 622/13 of the National Securities Commission ( CNV ) and supplementary regulations. This resolution provides that, in all cases, the consolidated financial statements must precede the individual financial statements; therefore, these financial statements have been presented in accordance with this guideline. These financial statements include the balances corresponding to the operations carried out by Banco de Galicia y Buenos Aires S.A. the Bank) and its subsidiaries located in Argentina and form part of the Bank s financial statements as supplementary information, reason for which they should be read in conjunction with them. These financial statements have been adjusted for inflation as mentioned in note 2 item to the individual financial statements. These criteria differ in certain aspects from the requirements of the professional accounting standards applicable in the Autonomous City of Buenos Aires ( Argentine GAAP ), as explained in note 23 to the individual financial statements. Certain financial statement figures for the year ended December 31, 2016, have been reclassified for purposes of their comparative presentation with those of the current year ACCOUNTING STANDARDS USED The accounting standards used in preparing the financial statements of the consolidated companies mentioned in note 2 have been adapted to the valuation and disclosure standards followed by the parent company. These standards are described in note 2 to the individual financial statements. NOTE 2 - CONSOLIDATION BASIS The following are the total stock holdings, assets, liabilities, shareholders equity and results of the companies controlled directly and indirectly. Issuing Shares Percentage held in Company Class Direct and indirect holdings Total Capital Stock Possible votes (stated in units) Tarjetas Regionales S.A.(1) Ordinary(*) 829,886, ,886, Galicia Valores S.A.(2) Ordinary 990, , Tarjetas Cuyanas S.A.(3) Ordinary(**) - 2,489, Tarjeta Naranja S.A.(4) Ordinary(**) 2,174 1, Tarjetas del Mar S.A. (5) Ordinary(**) - 4,784, Cobranzas Regionales S.A. Ordinary(***) 7,700 7, Compañía Financiera Argentina S.A. (6) Ordinary 540,835, ,835, Cobranzas y Servicios S.A. (7) Ordinary 475, , Procesadora Regional S.A. Ordinary 12,709,967 12,709, (1) see note 26 Spin off-merger process of Tarjetas Regionales S.A. and its integration into Grupo Financiero Galicia S.A. in the individual financial statements. (2) During this fiscal year, the Bank accepted an offer for the sale of 20,000 representing shares 2% of Galicia Valores S.A. owned by Compañía Financiera Argentina S.A.. Also, said company made an offer for the sale of the remaining 1% of its holding in Galicia Valores S.A. to Grupo Financiero Galicia S.A., which has been accepted. (3)y(4) During this fiscal year Tarjeta Naranja S.A (merging company) and Tarjetas Cuyanas S.A. (merged company), subscribed a merger plan through which Tarjeta Naranja S.A. absorbed Tarjetas Cuyanas S.A. assets and liabilities as from October 1, Later, on October 24, 2017, the shareholders of Tarjeta Naranja S.A. and on October 23, 2017 the shareholders of Tarjetas Cuyanas S.A. both met in an Extraordinary Shareholders' Meeting and approved the merger of Tarjetas Cuyanas S.A. into Tarjeta Naranja S.A. and the dissolution of the former without winding-up. (5) On March 30, 2017, the Bank and its subsidiary, Compañía Financiera Argentina S.A., sold its total holdings in Tarjetas del Mar S.A. to Sociedad Anónima Importadora y Exportadora de la Patagonia and to Engineer Federico Braun, respectively. The transaction amount was US$ 5,000 and did not have a significant effect on the Bank Shareholder's Equity. (6)y(7) See note "Equity Investments" to the individual financial statements. (*) Ordinary A and B. (**) Face value of 10. (***) Face value of 100. Issuing Assets Liabilities Shareholders' Equity Results Company Tarjetas Regionales S.A. 8,449,079 6,097,436 35,197 15,175 8,413,882 6,082,261 2,720,769 1,693,406 Galicia Valores S.A. 175,436 89,004 23,056 6, ,380 82,736 69,644 20,670 Tarjetas del Mar S.A. - 1,296,643-1,138, ,161-34,208 Tarjeta Naranja S.A. 36,025,069 24,997,877 28,174,258 20,316,446 7,850,811 4,681,431 2,467,644 1,445,086 Tarjetas Cuyanas S.A. - 5,592,813-4,641, , ,470 Cobranzas Regionales S.A. 57,921 61,374 22,443 31,082 35,478 30,292 5,186 6,869 Compañía Financiera Argentina S.A. 8,527,254 5,893,851 7,287,290 4,678,351 1,239,964 1,215, , ,550 Cobranzas y Servicios S.A. 24,139 27,508 13,014 18,855 11,125 8,653 2,472 8,082 Procesadora Regional S.A. 25,000 22,404 4,147 7,439 20,853 14,965 5,888 5,906

13 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 13 of 96 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS WITH CONTROLLED PARTIES (SEC. 33 OF LAW NO ) FOR THE FOR THE PERIOD FROM JANUARY 1, 2017, TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSAND) The procedure followed to include the accounts of the controlled companies was as follows: 1) The financial statements of said companies were adapted, as suitable, to the valuation and disclosure standards set by the Argentine Central Bank and cover the same period as that of the financial statements of the Bank. The financial statements as of December 31, 2017 of Tarjetas Regionales S.A. a company in which the Bank has a 77% interest, used for consolidation purposes were in turn consolidated on a line-by-line basis with the financial statements of Tarjeta Naranja S.A., Cobranzas Regionales S.A. and Procesadora Regional S.A.. The percentages directly held in those companies' capital stock are as follows: December 2017 December 2016 Directly and indirectly held Tarjetas Cuyanas S.A. - 77% Tarjeta Naranja S.A. 77% 77% Procesadora Regional S.A % 78.15% Cobranzas Regionales S.A. 77% 77% 2) The significant items arising from intercompany transactions among the consolidated companies, not involving third parties, have been eliminated from the Balance Sheet, Income Statement and Statement of Cash Flows. 3) The portion of the controlled companies shareholders equity owned by third parties is disclosed in the Balance Sheet, under the "Minority Interests" caption. 4) The results corresponding to minority interests are disclosed in the Income Statement under "Minority Interests Results. NOTE 3 - MINORITY INTERESTS The breakdown of the complementary interests included in the "Minority Interests" caption is as follows: December December COMPANY % % GALICIA VALORES S.A TARJETAS REGIONALES S.A TARJETAS CUYANAS S.A TARJETA NARANJA S.A TARJETAS DEL MAR S.A COBRANZAS REGIONALES S.A COMPAÑÍA FINANCIERA ARGENTINA S.A COBRANZAS Y SERVICIOS S.A PROCESADORA REGIONAL S.A NOTE 4 - RESTRICTED ASSETS OF CONTROLLED COMPANIES In addition to what is stated in note 3 to the individual financial statements, the ability to dispose of the following assets of the controlled companies required to be consolidated was restricted as follows: a. Galicia Valores S.A. - Liquid matching entry required to operate as CNV agents $ 4,600.- b. Tarjeta Naranja S.A.: - Attachments related to lawsuits $ 1, Collateral in relation to real state lease agreements $ 4,653.- c. Compañía Financiera Argentina S.A.: - For credit and debit card transactions $ 19, For attachments $ For transactions with the MAE $ For litigations $ Special escrow accounts with the Argentine Central Bank as guarantees for transactions involving electronic clearing house $ 51,861.- Attachments have been fully provisioned as of the date of these financial statements. The total amount of restricted assets for the aforementioned items of the controlled companies required to be consolidated as of December 31, 2017 amounts to $83,506, while as of December 31, 2016 it amounted to $ 189,713.

14 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 14 of 96 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS WITH CONTROLLED PARTIES (SEC. 33 OF LAW NO ) FOR THE FOR THE PERIOD FROM JANUARY 1, 2017, TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSAND) NOTE 5 - ISSUANCE OF NEGOTIABLE OBLIGATIONS In addition to the provisions of note 8 to the individual financial statements, the consolidated companies have the following negotiable obligations outstanding: 1. Tarjetas Regionales S.A. As of the date of preparation of these financial statements, the companies controlled by Tarjetas Regionales S.A. have outstanding the following issuance programs and negotiable obligations series, issued in order to finance its operations: Tarjeta Naranja S.A. AUTHORIZED AMOUNT TYPE OF NEGOTIABLE OBLIGATION PROGRAM'S TERM DATE OF APPROVAL BY THE SHAREHOLDERS' MEETING CNV APPROVAL US$ 650,000 (*) Ordinary, nonconvertible into shares 5 years Resolution No. 16,822 dated (*) The Company's shareholders' meeting approved the extension of the program's effective period, which was authorized by the CNV through Resolution No. 17,676 of May 21, As of fiscal year-end, the Bank has the following negotiable obligations outstanding: Placement date Currency Class Number Amount Type Term Due date Rate Issue authorized by the CNV on Book Value (*) (in thousands of Pesos) US$ XIII US$ 200, $ $ $ XXIV Series II XXVIII Series II XIX Series II (1) $ 33,500 $129,000 $75, $ XXIX $334, $ XXX $400, $ XXI (1) $232, $ XXXI $370,851 Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, non- 2,192 days 1,096 days 731 days 731 days 731 days 731 days 550 days 548 days Fixed. 9% NAR Variable BADLAR + 5% Variable BADLAR % Variable BADLAR % Mixed 27.75% / BADLAR % Mixed 27.75% / BADLAR % Variable BADLAR % Mixed 27% / BADLAR % ,073, , , , , , , ,168

15 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 15 of 96 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS WITH CONTROLLED PARTIES (SEC. 33 OF LAW NO ) FOR THE FOR THE PERIOD FROM JANUARY 1, 2017, TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSAND) convertible into shares $ XXII (1) $300, $ XXXII $260, $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ XXIII (1) XXXIII Series I XXXIII Series II XXIV Series I (1) XXIV Series II (1) XXXIV Series I XXXIV Series II XXV (1) XXXV Series I XXXV Series II XXVI Series I (1) XXVI Series II (1) XXXVI Series I XXXVI Series II XXVII Series II (1) $242,000 $133,092 $366,908 $65,691 $234,309 $124,603 $475,397 $400,000 $225,611 $774,389 $149,763 $350,237 $210,571 $636,409 $500,000 Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares 547 days 639 days 549 days 548 days 1,095 days 549 days 1,095 days 548 days 1,461 days 1,461 days 546 days 1,461 days 547 days 1,461 days 547 days 1,095 days 1,095 days Variable BADLAR % Variable BADLAR % Minimum rate 35.5% / BADLAR % Minimum rate 37% / BADLAR % Minimum rate 37% / BADLAR % Minimum rate 37% / BADLAR % Minimum rate 37% / BADLAR % Minimum rate 32% / BADLAR % Minimum rate 32% / BADLAR % Minimum rate 30% / BADLAR % Minimum rate 26% / BADLAR % Minimum rate 26% / BADLAR % Minimum rate 26% / BADLAR % Minimum rate 26% / BADLAR % Minimum rate 25.25% / BADLAR % Minimum rate 25.25% / BADLAR % Minimum rate 23.50% / BADLAR % , , , , , , , , , , , , , , , , , , , , , , , , , , ,000 -

16 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 16 of $ $ $ NOTES TO CONSOLIDATED FINANCIAL STATEMENTS WITH CONTROLLED PARTIES (SEC. 33 OF LAW NO ) FOR THE FOR THE PERIOD FROM JANUARY 1, 2017, TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT XXXVII XXVIII Series I (1) XXVIII Series II (1) $3,845,700 $128,175 $371, $ XXXVIII $503,333 (FIGURES STATED IN THOUSAND) Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares 1,826 days 730 days 1,461 days 546 days Minimum rate 15.00% / BADLAR % Minimum rate 25% BADLAR % Minimum rate 25% BADLAR % Minimum rate 29.50% / TM % ,845, , , ,333 - (1) Negotiable obligations absorbed by Tarjeta Naranja S.A., as a result of the merger with Tarjetas Cuyanas S.A. (see Note 2- Consolidation basis). (*) Corresponds to the principal amount outstanding as of the indicated dates. 2. Compañía Financiera Argentina S.A. As of the date of preparation of these financial statements, the company has outstanding the following issuance programs and negotiable obligations series, issued in order to finance its operations: AUTHORIZED AMOUNT US$ 250,000 TYPE OF NEGOTIABLE OBLIGATION Ordinary, nonconvertible into shares PROGRAM'S TERM 5 years DATE OF APPROVAL BY THE SHAREHOLDERS' MEETING , , and APPROVED BY THE CNV Resolution No. 15,440 dated , extended by Resolution No. 16,505 dated and Resolution No. 17,958 dated Amount increase approved by Resolution No 15,848 dated and Resolution No. 16,505 dated Within this program, the Company has, at the end of the fiscal year, the following negotiable obligations outstanding: Placement date Currency Class Number Amount Type Term Due date Rate Issue authorized by the CNV on Book Value (*) (in thousands of Pesos) $ $ $ XIV Single series XV Single series XVI Single series $249,000 $210,000 $300,000 Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares 21 months 21 months 21 months Fixed 27.24% until the 9th month, then Variable BADLAR+ 4.25% Fixed 27.99% until the 9th month, then Variable BADLAR+ 4.50% Variable BADLAR+ 4.50% , , ,790

17 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 17 of $ $ $ $ $ $ $ $ NOTES TO CONSOLIDATED FINANCIAL STATEMENTS WITH CONTROLLED PARTIES (SEC. 33 OF LAW NO ) FOR THE FOR THE PERIOD FROM JANUARY 1, 2017, TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT XVII Series I XVII Series II XVIII Single Series XIX Series I XIX Series II XX Series I XX Series II XX Series I $58,333 $287,500 $350,000 $100,000 $400,000 $401,667 $348,333 $104,286 (FIGURES STATED IN THOUSAND) Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares 18 months 36 months 18 months 18 months 36 months 18 months 36 months 18 months Minimum fixed of 36% until the 3rd month, then Variable Badlar + 4% Minimum fixed of 36% until the 6th month, then Variable Badlar % Minimum fixed of 29.50% until the 3rd month, then Variable Badlar % Minimum fixed of 23.25% until the 3rd month, then Variable Badlar % Minimum fixed of 23.00% until the 6th month, then Variable Badlar % Minimum fixed of 26.50% until the 3rd month, then Variable Badlar % Minimum fixed of 26.00% until the 6th month, then Variable Badlar % Variable Badlar + 4.5% , , , , , , , , , ,259 -

18 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 18 of $ NOTES TO CONSOLIDATED FINANCIAL STATEMENTS WITH CONTROLLED PARTIES (SEC. 33 OF LAW NO ) FOR THE FOR THE PERIOD FROM JANUARY 1, 2017, TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT XXI Series II $425,000 (FIGURES STATED IN THOUSAND) Ordinary, nonconvertible into shares 36 months Variable Badlar % (*) Corresponds to the principal and interest amount outstanding as of the indicated dates. 3. Tarjetas del Mar S.A ,077 - As of the prior fiscal year's end, the company had outstanding the following issuance programs and negotiable obligations series, issued in order to finance its operations (see note 2 to the Consolidated Financial Statements): AUTHORIZED AMOUNT US$ 75,000 TYPE OF NEGOTIABLE OBLIGATION Ordinary, nonconvertible into shares PROGRAM'S TERM DATE OF APPROVAL BY THE SHAREHOLDERS' MEETING 5 years APPROVED BY THE CNV Resolution No. 17,969 dated Within this program, the Company has, at fiscal year end, the following negotiable obligations outstanding: Placement date Currency Class Number Amount Type Term Due date Rate Issue authorized by the CNV on Book Value (*) (in thousands of Pesos) Ordinary, Variable nonconvertible months $ I $150, BADLAR + 4.5% into shares (*) Corresponds to the principal and interest amount outstanding as of the stated date ,032 NOTE 6 - DERIVATIVE FINANCIAL INSTRUMENTS In addition to the provisions of note 9 to the individual financial statements, the controlled companies have the following negotiable obligations outstanding: Tarjetas Regionales S.A. and subsidiaries FORWARD PURCHASE OF FOREIGN CURRENCIES WITHOUT DELIVERY OF THE UNDERLYING ASSET As of December 31, 2016, the companies have subscribed US dollars forward purchase agreements for a total of $ 1,087,812. Compañía Financiera Argentina S.A. FORWARD PURCHASE OF FOREIGN CURRENCIES WITHOUT DELIVERY OF THE UNDERLYING ASSET As of December 31, 2016 sale operations were recorded for $ 50,737. NOTE 7 - RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF PROFITS In addition to the statement made in Note 4 to the individual financial statements, and in accordance with Section 70 of the General Corporations Law, stock companies must set up a reserve of not less than 5% of the realized and liquid profits shown in the income statement for the fiscal year, until 20% of the corporate stock is reached. When this reserve falls below that percentage for any reason, no profits may be distributed until this minimum reserve is restored. The Ordinary and Extraordinary Shareholder s Meeting of Tarjeta Naranja S.A. held on March 16, 2006 decided to set the maximum limit for the distribution of dividends at 25% of the realized and liquid profits of each fiscal year, said restriction shall remain in force as long as the company's shareholder's equity is below $ 300,000. In the price supplement to Negotiable Obligations Class XXXVII, the Company committed itself not to distribute profits exceeding 50% of its net income and provided that some indebtedness ratios are not exceeded. In the case of Compañía Financiera Argentina S.A. the restrictions set forth in note 4 to the individual financial statements apply. NOTE 8 - MINIMUM PRESUMED INCOME TAX In addition to what is stated in note 2, item to the individual financial statements, as of December 31, 2017, the controlled companies recorded assets for $ 8,912 for the Minimum Presumed Income Tax, while as of December 31, 2016, this amount was $ 9,424.

19 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 19 of 96 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS WITH CONTROLLED PARTIES (SEC. 33 OF LAW NO ) FOR THE FOR THE PERIOD FROM JANUARY 1, 2017, TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSAND) NOTE 9- BREAKDOWN OF "OTHER" ITEMS IN THE CONSOLIDATED BALANCE SHEET -ASSETS -MISCELLANEOUS RECEIVABLES 2,971,474 2,559,874 Sundry debtors 509, ,657 Guarantee deposits 1,604,035 1,536,664 Payments in advance 320, ,814 Tax prepayments 136, ,421 Personnel loans 356,185 - Other 44,714 43,318 -LIABILITIES -OTHER LIABILITIES RESULTING FROM FINANCIAL BROKERAGE - OTHER 35,137,022 29,717,439 Collections on behalf of third parties and other liabilities 3,150,889 3,220,207 Liabilities for financing of purchases 26,565,310 20,812,777 Other withholdings and collections 1,563,374 1,518,962 Our accounts in correspondent Banks 416,106 1,142,363 Liabilities subject to Minimum Cash Requirements 338, ,641 Sundry not subject to Minimum Cash Requirements 2,494,622 2,362,934 Accrued commissions payable 200, ,503 Other 407, ,052 -MISCELLANEOUS LIABILITIES 7,872,382 5,192,612 Sundry creditors 1,984,729 1,079,683 Taxes payable 3,994,457 2,579,688 Salaries and social security contributions payable 1,385,242 1,118,134 Other 507, ,107 -MEMORANDUM ACCOUNTS - DEBIT -CONTROL - OTHER 428,272, ,972,028 Securities held in custody 374,811, ,872,060 Bills for collection 23,037,677 18,309,418 Guarantee agent activities 27,797,432 23,468,166 Other 2,626,387 4,322,384 -CONSOLIDATED INCOME STATEMENT INCOME FROM SERVICES 13,315,990 10,493,849 Fees earned on credit cards 8,967,166 6,894,873 Fees earned on life insurance policies 834, ,562 Other 3,514,677 2,625,414 -EXPENSES FOR SERVICES 4,314,474 2,990,776 Turnover taxes 1,233, ,470 Linked to credit cards 1,672,849 1,054,512 Other 1,408,252 1,024,794 -MISCELLANEOUS INCOME 283, ,417 Adjustments and interest on miscellaneous receivables 251, ,418 Income from bank premises and equipment sold - 170,873 Income for lawsuits 27,905 28,535 Other 4, ,591 -MISCELLANEOUS LOSSES 712, ,554 Claims 123,983 78,166 Donations 62,650 45,286 Turnover tax 114,393 44,795 Other 411, ,307

20 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 20 of 96 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS WITH CONTROLLED PARTIES (SEC. 33 OF LAW NO ) FOR THE FOR THE PERIOD FROM JANUARY 1, 2017, TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSAND) NOTE 10 - CONTINGENCIES a) Tax issues In addition to the provisions of Note 22 item a) to the individual financial statements, the Argentine Revenue Service (A.F.I.P.), Provincial Tax Bureaus, and Municipal Offices are conducting several review processes with different degrees of progress, on controlled companies. Said agencies have served notices and made claims regarding taxes against the subsidiaries of Tarjetas Regionales S.A. for which the corresponding administrative and legal measures are being undertaken. The original tax amount claimed for these issues, amounts to approximately $12,320. Based on the opinions of their tax advisors, the companies believe that the abovementioned claims are both legally and technically groundless and that taxes related to the claims have been correctly calculated in accordance with tax regulations in force and existing case law. Notwithstanding the above, the companies have created all allowances and provisions deemed suitable pursuant to each case's particular progress. b) Consumers' Associations In addition to the statements made in Note 22 item b) to the individual financial statements, consumer associations claiming to represent consumers have filed claims against Compañía Financiera Argentina S.A. in relation to certain financial charges. The Bank deems the resolution of these issues shall not have a significant impact on its shareholders' equity.

21 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 21 of 96 NAME OF CERTIFYING AUDITOR: SANTIAGO J. MIGNONE PROFESSIONAL ASSOCIATION: PRICE WATERHOUSE & CO. S.R.L. FAVORABLE REPORT WITHOUT QUALIFICATIONS FOR THE FISCAL YEAR-ENDED (Code 001) BALANCE SHEET For the fiscal year from January 1, 2017 FIGURES STATED IN THOUSANDS OF PESOS to December 31, 2017, presented in comparative format ASSETS A. CASH AND DUE FROM BANKS 55,855,698 60,418,326 - CASH 8,417,778 7,060,409 - FINANCIAL INSTITUTIONS AND CORRESPONDENTS 47,437,920 53,357,917 - ARGENTINE CENTRAL BANK 46,832,439 51,124,620 - OTHER LOCAL FINANCIAL INSTITUTIONS 6, ,355 - FOREIGN 599,165 2,096,942 B. GOVERNMENT AND CORPORATE SECURITIES (SCHEDULE A AND NOTE 2 ITEM ) 35,321,796 12,504,569 - HOLDINGS OF GOVERNMENT SECURITIES RECORDED AT FAIR MARKET VALUE 5,539,262 3,074,883 - HOLDINGS RECORDED AT COST PLUS YIELD 3,890,226 1,922,473 - INVESTMENTS IN QUOTED CORPORATE SECURITIES 11, SECURITIES ISSUED BY THE ARGENTINE CENTRAL BANK (NOTE 21) 25,881,052 7,507,213 C. LOANS (SCHEDULES B, C, D, N AND NOTE 16) 158,817, ,343,716 - TO THE NON-FINANCIAL PUBLIC SECTOR TO THE FINANCIAL SECTOR 4,708,382 2,774,592 - INTERBANK LOANS (CALL LOANS GRANTED) (NOTE 21) 1,157, ,300 - OTHER FINANCING TO LOCAL FINANCIAL INSTITUTIONS 3,334,315 1,870,799 - ACCRUED INTEREST, ADJUSTMENTS AND QUOTATION DIFFERENCES RECEIVABLE 216,906 41,493 - TO THE NON-FINANCIAL PRIVATE SECTOR AND RESIDENTS ABROAD 157,702, ,756,067 - ADVANCES 11,297,974 10,177,452 - PROMISSORY NOTES 35,533,163 25,415,263 - MORTGAGE LOANS 5,713,233 2,178,236 - COLLATERALIZED LOANS 1,077, ,879 - PERSONAL LOANS 18,332,711 10,091,976 - CREDIT CARD LOANS 53,852,997 42,599,370 - OTHER 30,444,916 12,649,028 - ACCRUED INTEREST, ADJUSTMENTS AND QUOTATION DIFFERENCES RECEIVABLE 2,407,203 1,635,932 - (UNALLOCATED COLLECTIONS) (33,936) (21,860) - (DOCUMENTED INTEREST) (923,909) (647,209) - ALLOWANCES (SCHEDULE J) (3,593,540) (2,187,049) D. OTHER RECEIVABLES RESULTING FROM FINANCIAL BROKERAGE (SCHEDULES B, C, D, N, NOTE 2 ITEMS , , AND NOTE 16) 30,505,531 16,434,235 - ARGENTINE CENTRAL BANK 3,612,304 2,328,636 - AMOUNTS RECEIVABLE FOR SPOT AND FORWARD SALES TO BE SETTLED (NOTE 21) 13,112, ,375 - SECURITIES RECEIVABLE UNDER SPOT AND FORWARD PURCHASES TO BE SETTLED 7,215,531 7,713,469 - PREMIUMS FROM BOUGHT OPTIONS - 3,485 - OTHER RECEIVABLES NOT INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 2,521,480 1,738,107 - NEGOTIABLE OBLIGATIONS WITHOUT QUOTATION 1,475,122 1,962,926 - BALANCES FROM FORWARD TRANSACTIONS WITHOUT DELIVERY OF UNDERLYING ASSET TO BE SETTLED 525, ,287 - OTHER RECEIVABLES INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 2,224,583 2,023,873 - ACCRUED INTEREST AND ADJUSTMENTS RECEIVABLE INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 2, ALLOWANCES (SCHEDULE J) (183,580) (182,371)

22 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 22 of 96 E. RECEIVABLES FROM FINANCIAL LEASES (SCHEDULES B, C, D, N, NOTE 2 ITEM AND NOTE 16) 1,872,587 1,175,714 RECEIVABLES FROM FINANCIAL LEASES 1,864,343 1,169,259 - ACCRUED INTEREST AND ADJUSTMENTS RECEIVABLE 30,490 20,641 - ALLOWANCES (SCHEDULE J) (22,246) (14,186) F. EQUITY INVESTMENTS (SCHEDULE E, N, NOTE 2 ITEM AND NOTE 14) 7,301,580 5,742,221 - IN FINANCIAL INSTITUTIONS 1,212,071 1,186,891 - OTHER 6,358,305 4,555,330 - ALLOWANCES (SCHEDULE J) (268,796) - G. MISCELLANEOUS RECEIVABLES 2,504,305 1,967,926 - RECEIVABLES FOR ASSETS SOLD (SCHEDULE B, C, D, AND NOTE 16) 123, ,650 - OTHER (NOTE 11) 2,385,673 1,845,729 - ACCRUED INTEREST ON AND ADJUSTMENTS TO RECEIVABLES FOR ASSETS SOLD (SCHEDULE B, C, D and NOTE 16) 476 1,626 - OTHER ACCRUED INTEREST AND ADJUSTMENTS RECEIVABLE 29,217 28,930 - ALLOWANCES (SCHEDULE J) (34,562) (34,009) H. BANK PREMISES AND EQUIPMENT (SCHEDULE F AND NOTE 2 ITEM ) 3,776,758 2,241,172 I. MISCELLANEOUS ASSETS (SCHEDULE F AND NOTE 2 ITEM AND ) 608,351 1,204,018 J. INTANGIBLE ASSETS (SCHEDULE G AND NOTE 2 ITEM ) 3,094,869 2,210,404 - ORGANIZATION AND DEVELOPMENT EXPENSES 3,094,869 2,210,404 K. UNALLOCATED ITEMS 51,907 64,030 TOTAL ASSETS 299,710, ,306,331

23 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 23 of 96 LIABILITIES L. DEPOSITS (SCHEDULES H AND I) 200,884, ,639,152 - NON-FINANCIAL PUBLIC SECTOR 1,163,816 1,294,177 - FINANCIAL SECTOR 115,152 62,957 - NON-FINANCIAL PRIVATE SECTOR AND RESIDENTS ABROAD 199,605, ,282,018 - CURRENT ACCOUNTS 32,369,169 27,140,879 - SAVINGS ACCOUNTS 100,322,542 53,148,612 - TIME DEPOSITS 64,179,631 49,091,329 - INVESTMENT ACCOUNTS 52, ,665 - OTHER 1,283,740 18,566,227 - ACCRUED INTEREST, ADJUSTMENTS AND QUOTATION DIFFERENCES PAYABLE 1,398, ,306 M. OTHER LIABILITIES RESULTING FROM FINANCIAL BROKERAGE 52,526,222 32,225,241 - ARGENTINE CENTRAL BANK (SCHEDULE I) 15,323 12,727 - OTHER 15,323 12,727 - BANKS AND INTERNATIONAL ENTITIES (SCHEDULE I ) 5,031,206 2,212,995 - UNSUBORDINATED NEGOTIABLE OBLIGATIONS ( SCHEDULE I AND NOTE 8 ) 4,353,672 4,759,723 - AMOUNTS PAYABLE FOR SPOT AND FORWARD PURCHASES TO BE SETTLED 7,263,293 7,680,190 - SECURITIES TO BE DELIVERED UNDER SPOT AND FORWARD SALES TO BE SETTLED (SCHEDULE O) 14,200, ,819 - PREMIUMS FROM WRITTEN OPTIONS - 2,027 - FINANCING FROM LOCAL FINANCIAL INSTITUTIONS (SCHEDULE I ) 2,265,950 1,349,465 - INTERBANK LOANS (CALL MONEY LOANS RECEIVED) 60, ,000 - OTHER FINANCING FROM LOCAL FINANCIAL INSTITUTIONS 2,172,182 1,164,418 - ACCRUED INTEREST PAYABLE 33,768 20,047 - BALANCES FROM FORWARD TRANSACTIONS WITHOUT DELIVERY OF UNDERLYING ASSET TO BE SETTLED 584, ,833 - OTHER (SCHEDULE I AND NOTE 11) 18,646,572 15,244,218 - ACCRUED INTEREST, ADJUSTMENTS AND QUOTATION DIFFERENCES (SCHEDULE I) 165,089 95,244 N. MISCELLANEOUS LIABILITIES 5,319,507 3,167,439 - DIRECTORS' AND SYNDICS' FEES 21,337 17,234 - OTHER (NOTE 11) 5,298,170 3,150,205 O. PROVISIONS (SCHEDULE J) 303, ,959 P. SUBORDINATED NEGOTIABLE OBLIGATIONS (SCHEDULE I AND NOTE 8) 4,828,018 4,065,255 Q. UNALLOCATED ITEMS TOTAL LIABILITIES 28, ,890,041 42, ,400,454 SHAREHOLDERS' EQUITY (As per related statement) TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 35,820, ,710,761 18,905, ,306,331

24 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 24 of 96 MEMORANDUM ACCOUNTS DEBIT 536,268, ,589,453 CONTINGENT 53,506,680 38,929,381 - LOANS OBTAINED (UNUSED BALANCES) 1,628, ,339 - GUARANTEES RECEIVED 34,887,729 25,365,703 - CONTINGENCIES DEBIT-BALANCE CONTRA ACCOUNTS 16,990,108 13,114,339 CONTROL 429,411, ,156,219 - UNCOLLECTIBLE LOANS 1,158,663 1,462,083 - OTHER (NOTE 11) 425,167, ,087,180 - CONTROL DEBIT-BALANCE CONTRA ACCOUNTS 3,085,289 2,606,956 DERIVATIVES 44,433,516 28,321,154 - "NOTIONAL" VALUE OF PUT OPTIONS BOUGHT(SCHEDULE O AND NOTE 9) - 149,512 - "NOTIONAL" VALUE OF FORWARD TRANSACTIONS WITHOUT DELIVERY OF UNDERLYING ASSET (SCHEDULE O AND NOTE 9) 20,812,517 15,220,526 - INTEREST RATE SWAPS (SCHEDULE O AND NOTE 9) 1,000 75,000 - DERIVATIVES DEBIT-BALANCE CONTRA ACCOUNTS 23,619,999 12,876,116 TRUST ACCOUNTS 8,916,957 8,182,699 - TRUST FUNDS (NOTE 7) 8,916,957 8,182,699 CREDIT 536,268, ,589,453 CONTINGENT 53,506,680 38,929,381 - LOANS GRANTED - UNUSED BALANCES - INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS (SCHEDULES B, C, D, 11,745,185 9,704,205 N AND NOTE 16) - GUARANTEES GRANTED TO THE ARGENTINE CENTRAL BANK - 473,528 - OTHER GUARANTEES GRANTED INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS (SCHEDULES B, C, D, N AND NOTE 16) 2,366,349 1,091,135 - OTHER GUARANTEES GRANTED NOT INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 295, ,282 - OTHER INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS (SCHEDULES B, C, D, N AND NOTE 16) 1,815,117 1,236,641 - OTHER NOT INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 768, ,548 - CONTINGENCIES CREDIT-BALANCE CONTRA ACCOUNTS 36,516,572 25,815,042 CONTROL 429,411, ,156,219 - CHECKS AND DRAFTS TO BE CREDITED 3,084,228 2,559,608 - OTHER 1,061 47,348 - CONTROL CREDIT-BALANCE CONTRA ACCOUNTS 426,325, ,549,263 DERIVATIVES 44,433,516 28,321,154 - "NOTIONAL" VALUE OF CALL OPTIONS WRITTEN (SCHEDULE O AND NOTE 9) - 174,663 - "NOTIONAL" VALUE OF FORWARD TRANSACTIONS WITHOUT DELIVERY OF UNDERLYING ASSET (SCHEDULE O AND NOTE 9) 23,619,999 12,701,453 - DERIVATIVES CREDIT-BALANCE CONTRA ACCOUNTS 20,813,517 15,445,038 TRUST ACCOUNTS 8,916,957 8,182,699 - TRUST LIABILITIES CREDIT-BALANCE CONTRA ACCOUNTS 8,916,957 8,182,699 The accompanying notes, Proposed Distribution of Profits and schedules are an integral part of these financial statements.

25 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 25 of 96 INCOME STATEMENT For the fiscal year from January 1, 2017 FIGURES STATED IN THOUSANDS OF PESOS to December 31, 2017, presented in comparative format A. FINANCIAL INCOME 31,896,461 27,401,195 - INTEREST ON CASH AND DUE FROM BANKS INTEREST ON LOANS GRANTED TO THE FINANCIAL SECTOR 700, ,921 - INTEREST ON ADVANCES 2,755,753 3,088,702 - INTEREST ON PROMISSORY NOTES 5,616,001 5,419,213 - INTEREST ON MORTGAGE LOANS 370, ,490 - INTEREST ON PLEDGE LOANS 125,348 88,314 - INTEREST ON CREDIT CARD LOANS 8,659,695 7,703,613 - INTEREST ON FINANCIAL LEASES 309, ,612 - INTEREST ON OTHER LOANS 4,928,375 2,971,897 - NET INCOME FROM GOVERNMENT AND CORPORATE SECURITIES 4,550,091 5,223,270 - INTEREST ON OTHER RECEIVABLES RESULTING FROM FINANCIAL BROKERAGE 39,752 29,598 - NET INCOME FROM SECURED LOANS-DECREE No. 1387/01 1, CER ADJUSTMENT 246,670 6,025 - OTHER 1,514, ,199 - QUOTATION DIFFERENCES ON GOLD AND FOREIGN CURRENCY 2,078,152 1,209,324 B. FINANCIAL EXPENSES 16,271,772 16,889,754 - INTEREST ON CURRENT ACCOUNT DEPOSITS INTEREST ON SAVINGS ACCOUNT DEPOSITS 3,493 2,430 - INTEREST ON TIME DEPOSITS 10,356,522 12,951,601 - INTEREST ON SUBORDINATED OBLIGATIONS 349, ,823 - OTHER INTEREST 528,381 57,930 - INTEREST ON INTERBANK LOANS RECEIVED (CALL MONEY LOANS) 28,898 24,001 - INTEREST ON OTHER FINANCING FROM FINANCIAL INSTITUTIONS 409, ,283 - NET LOSS FROM OPTIONS 1,458 28,893 - INTEREST ON OTHER LIABILITIES RESULTING FROM FINANCIAL BROKERAGE 1,055, ,797 - CONTRIBUTIONS TO THE DEPOSIT INSURANCE FUND (NOTE 6) 273, ,885 - CER ADJUSTMENT 49,532 6,602 - OTHER 3,214,462 2,388,509 GROSS FINANCIAL MARGIN 15,624,689 10,511,441 C. LOAN LOSS PROVISIONS 2,585,287 1,526,264 D. INCOME FROM SERVICES 13,107,061 10,073,792 - IN RELATION TO LENDING TRANSACTIONS 1,169, ,128 - IN RELATION TO BORROWING TRANSACTIONS 3,487,555 2,495,704 - OTHER COMMISSIONS 1,033, ,118 - OTHER (NOTE 11) 7,416,699 6,168,842 E. EXPENSES FOR SERVICES 5,364,636 4,063,624 - COMMISSIONS 1,968,038 1,823,047 - OTHER (NOTE 11) 3,396,598 2,240,577 G. ADMINISTRATIVE EXPENSES 13,688,615 10,145,969 - PERSONNEL EXPENSES 7,851,771 5,770,992 - DIRECTORS' AND SYNDICS' FEES 21,334 20,677 - OTHER FEES 189, ,861 - ADVERTISING AND PUBLICITY 433, ,560 - TAXES 1,206, ,105 - DEPRECIATION OF PREMISES AND EQUIPMENT (SCHEDULE F) 376, ,529 - AMORTIZATION OF ORGANIZATION EXPENSES (SCHEDULE G) 482, ,409 - OTHER OPERATING EXPENSES 1,786,587 1,233,200 - OTHER 1,339, ,636 NET INCOME / (LOSS) FROM FINANCIAL BROKERAGE 7,093,212 4,849,376 I. MISCELLANEOUS INCOME 3,177,917 2,461,084

26 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 26 of 96 INCOME STATEMENT For the fiscal year from January 1, 2017 FIGURES STATED IN THOUSANDS OF PESOS to December 31, 2017, presented in comparative format INCOME FROM EQUITY INVESTMENTS 2,462,186 1,689,602 - DEFAULT INTERESTS 187, ,727 - LOANS RECOVERED AND ALLOWANCES REVERSED 131, ,564 - OTHER (NOTE 11) 386, ,191 - CER ADJUSTMENT 10,305 - J. MISCELLANEOUS LOSSES 740, ,755 - DEFAULT INTEREST AND CHARGES IN FAVOR OF THE ARGENTINE CENTRAL BANK 883 3,397 - LOAN LOSS PROVISIONS FOR MISCELLANEOUS RECEIVABLES AND OTHER PROVISIONS 121, ,211 - OTHER (NOTE 11) 600, ,398 - DEPRECIATION OF AND LOSSES ON MISCELLANEOUS ASSETS 1,652 1,245 - AMORTIZATION OF DIFFERENCES ARISING FROM COURT RESOLUTIONS (SCHEDULE G) 15,389 12,504 NET INCOME / (LOSS) BEFORE INCOME TAX 9,530,843 6,947,705 L. INCOME TAX (NOTE 2 ITEM ) 2,616,000 1,854,000 NET INCOME / (LOSS) FOR THE FISCAL YEAR 6,914,843 5,093,705 The accompanying notes, Proposed Distribution of Profits and schedules are an integral part of these financial statements.

27 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 27 of 96 STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY For the fiscal year from January 1, 2017 to December 31, 2017, presented in comparative format FIGURES STATED IN THOUSANDS OF PESOS CHANGES Capital Stock (Note 13 and Schedule K) Non-capit. contributions Share Issuance Premiums Irrev. Cont. for Fut. Cap. Incr. Adjustments to shareholders' equity Legal Profit Reserves Special Debt Securities Other Unrealized valuetion differrences Retained earnings Restated opening balances 562, , ,306 2,646,303-9,625,943-5,093,705 18,905,877 13,812,172 2.Subtotal 562, , ,306 2,646,303-9,625,943-5,093,705 18,905,877 13,812,172 3.Distribution of retained earnings approved by the shareholders meeting held on : - Legal Reserve ,018, (1,018,741) Discretionary reserve for future distribution of profits ,074,964 - (4,074,964) Capital stock increase approved by the shareholders meeting held on : 233,647 9,766, ,000,000-5.Net income / (loss) for the fiscal year ,914,843 6,914,843 5,093,705 6.Balances at fiscal year-end 795,974 10,138, ,306 3,665,044-13,700,907-6,914,843 35,820,720 18,905,877 The accompanying notes, Proposed Distribution of Profits and schedules are an integral part of these financial statements.

28 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 28 of 96 STATEMENT OF CASH FLOWS For the fiscal year from January 1, 2017 to December 31, 2017, presented in comparative format. FIGURES STATED IN THOUSANDS OF PESOS CHANGES IN CASH AND CASH EQUIVALENTS (Note 21) Cash at Beginning of Fiscal Year 68,978,207 40,917,629 Cash at Fiscal Year-end 81,281,976 68,978,207 Net increase in Cash (in constant currency) 12,303,769 28,060,578 CAUSES OF CHANGES IN CASH (IN CONSTANT CURRENCY) Operating Activities Net Collections / (Payments) Related to: - Government and Corporate Securities 970,829 3,209,585 - Loans - To the Financial Sector (1,330,386) (651,196) - To the Non-Financial Public Sector 1,475 6,123 - To the Non-Financial Private Sector and Residents Abroad (25,238,386) (7,077,710) - Other Receivables Resulting from Financial Brokerage (1,077,528) (464,992) - Receivables from financial leases (394,952) 317,447 - Deposits - To the Financial Sector 52,195 35,996 - To the Non-Financial Public Sector (130,361) 663,776 - To the Non-Financial Private Sector and Residents Abroad 30,387,646 33,223,125 - Other Liabilities Resulting from Financial Brokerage - Financing from the Financial Sector - Interbank Loans (Call Money Loans Received) (133,898) 48,899 - Others (Except those Liabilities Included in Financial Activities) 3,143,528 2,133,042 Collections Related to Income from Services 13,107,061 10,073,792 Payments Related to Expenses for Services (5,189,652) (3,971,569) Administrative Expenses Paid (12,814,326) (9,295,098) Payment Related to Organization and Development Expenses (1,380,912) (1,063,272) Net Collections / (Payments) Related to Default Interest 186, ,330 Differences Deriving from Court Resolutions Paid (15,389) (12,504) Collection Related to Dividends from Other Companies 785, ,808 Other Collections / (Payments) Related to Miscellaneous Profits and Losses (242,179) (90,222) Net Collections / (Payments) Related to Other Operating Activities - To Other Receivables and Miscellaneous Liabilities (2,113,593) (1,827,942) - To Other Net Operating Activities 716, ,508 Payment of the Income Tax / Minimum Presumed Income Tax (1,732,773) (1,634,291) Net Cash Flow (Used in) / provided by Operating Activities (2,443,396) 24,689,635 Investment Activities Net Collections/ (Payments) Related to Bank Premises and Equipment (725,010) (689,841) Net Collections/ (Payments) Related to Miscellaneous Assets (556,714) (572,190) Payments of Equity Investments Acquired (1,813) -

29 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 29 of 96 STATEMENT OF CASH FLOWS For the fiscal year from January 1, 2017 FIGURES STATED IN THOUSANDS OF PESOS to December 31, 2017, presented in comparative format Collections of Equity Investments Sold 123,459 - Other Collections/ (Payments) for Investment Activities - 35,101 - Other - 35,101 Net Cash Flow (Used in) Investment Activities (1,160,078) (1,226,930) Financing Activities Net Collections / (Payments) Related to: - Unsubordinated Negotiable Obligations (1,043,309) (377,887) -Argentine Central Bank - Other 2,596 5,694 - Banks and International Entities 2,170, ,115 - Subordinated Obligations (342,049) (386,591) - Loans from Local Financial Institutions 611,626 1,029,716 Capital contributions 10,000,000 - Net Cash Flow generated by financing activities Financial Income on Cash and Cash Equivalents (Including Interest and the Monetary Loss) Net Increase in Cash 11,398, ,047 4,508,309 3,849,826 12,303,769 28,060,578 The accompanying notes, Proposed Distribution of Profits and schedules are an integral part of these financial statements.

30 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 30 of 96 SCHEDULE A GOVERNMENT AND CORPORATE SECURITIES For the fiscal year from January 1, 2017 to December 31, 2017, presented in comparative format FIGURES STATED IN THOUSANDS OF PESOS NAME CAJA DE VALORES CODE MARKET VALUE OR CURRENT VALUE FINAL WITHOUT OPTIONS OPTI ONS FINAL POS. GOVERNMENT SECURITIES - Holdings of Government Securities recorded at fair market value - 5,539,262 3,074,883 5,507,034-5,507,034 - Argentine - 5,539,262 3,074,883 5,507,034-5,507,034 - In Pesos - 1,334,696 1,948,087 1,456,801-1,456,801 - Discount Bonds due in , ,710 77,664-77,664 - Peso-denominated Argentine Bonds Badlar Privada bp due in , , ,662 - Peso-denominated Argentine Bonds Badlar Privada bp due in ,079 36,387 26,079-26,079 - National Treasury Bonds due on , , ,127 - Peso-denominated Argentine Bonds Badlar Privada bp due in ,746 10,898 30,611-30,611 - Debt securities City of Buenos Aires due on , , ,483 - National Treasury Bonds due on , Debt securities province of Buenos Aires due on , , ,853 - CER-adjusted National Treasury Bonds due in , ,749 22,139-22,139 - National Treasury Bonds due on , National Treasury Bonds due on ,151 54,977 1,151-1,151 - National Treasury Bonds due on ,542 52,755 21,542-21,542 - Other ,490 96,260 57,490-57,490 - In foreign currency - 4,204,566 1,126,796 4,050,233-4,050,233 - International Argentine bonds in US dollars 6.875% ,680-73,680-73,680 - Treasury Bills in US Dollars due on , , ,251 - US dollar-denominated Argentine Bonds due on ,340 3,419 7,995-7,995 - Debt Securities CABA Class 4 due ,036-24,036-24,036 - US Treasury Bills due on ,424-4,269-4,269 - US Treasury Bills due on ,406-58,201-58,201 - International Argentine Bonds due on ,067-23,067-23,067 - International Argentine Bonds due on ,139-13,267-13,267 - US dollar-denominated Argentine Bonds 7.625% ,793-12,793-12,793 - Treasury Bills in US Dollars due on , , ,299 - US dollar-linked Argentine Bonds due on , Treasury Bills in US Dollars due on , , ,564 - US dollar- denominated security (governed by Argentine law) due on ,950 11,772 14,950-14,950 - US dollar-denominated Argentine Bonds 9% , US dollar-denominated Argentine Bonds 7% , International Argentine Bonds 7.50% , Treasury Bills in US Dollars due on , , ,728 - Treasury Bills in US Dollars due on , , ,823 - Treasury Bills in US Dollars due on , , ,491 - US dollar-denominated Argentine Bonds due on ,586 87,791 27,626-27,626 - US dollar- denominated security (governed by New York law) due on ,513-26,282-26,282 - US dollar-linked Argentine Bonds 2.40% ,318 34,024 51,318-51,318 - US dollar-denominated Argentine Bonds due on ,342-14,959-14,959 - Treasury Bills in US Dollars due on , , ,131 - Other ,456 20,757 22,503-22,503 - Government securities recorded at cost plus yield - 3,890,226 1,922,473 3,776,193-3,776,193 - Argentine - 3,890,226 1,922,473 3,776,193-3,776,193 - In Pesos - 2,250,641 1,772,212 2,249,264-2,249,264 - Debt security Province of Buenos Aires Series 2 due on ,954 90, ,189 98,954-98,954 - Debt security Province of Buenos Aires Series 1 Class 2 due on , , , , ,752 - Debt security Province of Buenos Aires Series 1 Class 1 due on , , , , ,409 - Treasury Bills Province of Neuquén Class 1 Series 3 due on ,

31 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 31 of 96 SCHEDULE A GOVERNMENT AND CORPORATE SECURITIES For the fiscal year from January 1, 2017 to December 31, 2017, presented in comparative format FIGURES STATED IN THOUSANDS OF PESOS NAME CAJA DE VALORES CODE MARKET VALUE OR CURRENT VALUE FINAL WITHOUT OPTIONS OPTI ONS FINAL POS. - Treasury Bills Province of Entre Ríos Series 3 Class B due on , , , ,143 - Treasury Bills Province of Neuquén Class 1 Series 2 due on , , , ,039 - Treasury Bills Province of Neuquén Class 1 Series 1 due on , , , , ,577 - Debt Securities CABA Class 23 due on , , , ,316 - Debt Settlement Bonds Bs. As. due on ,528 24,255 84,882 24,528-24,528 - Treasury Bills Province of Neuquén Class 1 Series 1 due on , Treasury Bill Province of Santa Fe Series 4 Class B due on , Debt security province of Buenos Aires Series 3 due on , Treasury Bills Province of Neuquén Class 1 Series 2 due on , Bills Entre Ríos Class C Series 9 due on , Treasury Bills Province of Buenos Aires due on , , , ,996 - Treasury Bills Province of Neuquén Class 2 Series 2 due on , , , , ,712 - Debt security Province of Río Negro due on , , , ,571 - Other - 40,531 40,371 82,115 36,267-36,267 - In foreign currency - 1,639, ,261 1,526,929-1,526,929 - Treasury Bills in US Dollars due on , Treasury Bills in US Dollars due on , Treasury Bills in US Dollars due on , Treasury Bills in US Dollars due on , , , ,271 - Treasury Bills in US Dollars due on , , , ,150 - Treasury Bills in US Dollars due on , , , ,327 - Treasury Bills in US Dollars due on , Treasury Bills in US Dollars due on , , , ,560 - US dollar-denominated Debt security province of Córdoba Series I due on ,380 45,535-16,350-16,350 - Treasury Bills in US Dollars due on ,353 20,345-3,979-3,979 - Treasury Bills in US Dollars due on ,798 76,598-7,581-7,581 - Other - 49,339 49,037 6,989 47,711-47,711 - Securities issued by the Argentine Central Bank - 25,881,052 7,507,213 16,921,063-16,921,063 - Argentine Central Bank Bills recorded at fair market value - 15,240, ,098 16,967,675-16,967,675 - Argentine Central Bank Bills due on , Argentine Central Bank Bills due on , Argentine Central Bank Bills due on , Argentine Central Bank Bills due on ,336,705-2,409,132-2,409,132 - Argentine Central Bank Bills due on , , ,680 - Argentine Central Bank Bills due on ,036,465-13,452,837-13,452,837 - Argentine Central Bank Bills due on , , ,704 - Other , , ,322 - Argentine Central Bank Bills - For Repo Transactions - 10,640,412 - (46,612) - (46,612) - Argentine Central Bank Bills due on ,083,923 6,083, Argentine Central Bank Bills due on ,921,406 3,921, Argentine Central Bank Bills due on , ,903 - (46,612) - (46,612) - Argentine Central Bank Bills due on , , Argentine Central Bank Bills recorded at cost plus yield - - 6,791, In Pesos - - 6,791, Argentine Central Bank Bills due on ,162, Argentine Central Bank Bills due on , Argentine Central Bank Bills due on , Argentine Central Bank Bills due on , Argentine Central Bank Bills due on , Argentine Central Bank Bills due on , Argentine Central Bank Bills due on ,

32 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 32 of 96 SCHEDULE A GOVERNMENT AND CORPORATE SECURITIES For the fiscal year from January 1, 2017 to December 31, 2017, presented in comparative format FIGURES STATED IN THOUSANDS OF PESOS NAME CAJA DE VALORES CODE MARKET VALUE OR CURRENT VALUE FINAL WITHOUT OPTIONS OPTI ONS FINAL POS. - Argentine Central Bank Bills due on , Argentine Central Bank Bills due on , Argentine Central Bank Bills due on , Argentine Central Bank Bills due on , Argentine Central Bank Bills due on ,808, Argentine Central Bank Bills due on , Argentine Central Bank Bills due on , Other , TOTAL GOVERNMENT SECURITIES - 35,310,540 12,504,569 26,204,290-26,204,290 - Debt securities - 11,256-11,085-11,085 - Argentine - 11,256-11,085-11,085 - In foreign currency -ON YPF - Class XXVIII due on ,256 11, ,085 11, ,085 11,085 TOTAL CORPORATE SECURITIES WITH QUOTATION - 11,256-11,085-11,085 TOTAL GOVERNMENT AND CORPORATE SECURITIES (Note 2 item ) - 35,321,796 12,504,569 26,215,375-26,215,375

33 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 33 of 96 SCHEDULE B CLASSIFICATION OF TOTAL CREDIT ACCORDING TO STATUS AND COLLATERAL RECEIVED For the fiscal year from January 1, 2017 COMMERCIAL PORTFOLIO FIGURES STATED IN THOUSANDS OF PESOS to December 31, 2017, presented in comparative format Normal 88,555,958 58,572,211 With "A" Preferred Collateral and Counter-guarantees 63, ,608 With "B" Preferred Collateral and Counter-guarantees 5,392,043 2,787,547 Without Preferred Collateral or Counter-guarantees 83,100,132 55,667,056 With special follow-up - Under observation 51, ,537 With "B" Preferred Collateral and Counter-guarantees 2,566 50,931 Without Preferred Collateral or Counter-guarantees 48,448 65,606 With problems 156,280 75,354 With "B" Preferred Collateral and Counter-guarantees 99,051 39,697 Without Preferred Collateral or Counter-guarantees 57,229 35,657 High risk of insolvency 184,252 91,686 With "A" Preferred Collateral and Counter-guarantees With "B" Preferred Collateral and Counter-guarantees 55,775 29,696 Without Preferred Collateral or Counter-guarantees 128,477 61,595 Uncollectible 18,915 16,980 With "A" Preferred Collateral and Counter-guarantees 8,366 - With "B" Preferred Collateral and Counter-guarantees 2, Without Preferred Collateral or Counter-guarantees 8,468 16,731 Total commercial portfolio 88,966,419 58,872,768 CONSUMER AND HOUSING PORTFOLIO Normal Situation 90,658,579 63,551,360 With "A" Preferred Collateral and Counter-guarantees 13,508 19,119 With "B" Preferred Collateral and Counter-guarantees 5,301,381 1,318,337 Without Preferred Collateral or Counter-guarantees 85,343,690 62,213,904 Low risk 1,557, ,001 With "A" Preferred Collateral and Counter-guarantees 1, With "B" Preferred Collateral and Counter-guarantees 22,824 17,169 Without Preferred Collateral or Counter-guarantees 1,533, ,819 Medium risk 1,040, ,715 With "B" Preferred Collateral and Counter-guarantees 8,053 12,195 Without Preferred Collateral or Counter-guarantees 1,032, ,520 High risk 1,330, ,513 With "A" Preferred Collateral and Counter-guarantees With "B" Preferred Collateral and Counter-guarantees 6,073 10,085 Without Preferred Collateral or Counter-guarantees 1,324, ,428 Uncollectible 502, ,456 With "A" Preferred Collateral and Counter-guarantees With "B" Preferred Collateral and Counter-guarantees 21,775 5,020 Without Preferred Collateral or Counter-guarantees 480, ,164 Uncollectible due to technical reasons 1,691 1,356 Without Preferred Collateral or Counter-guarantees 1,691 1,356 Total consumer and housing portfolio 95,091,856 65,994,401 General Total (Note 16) 184,058, ,867,169

34 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 34 of 96 SCHEDULE C CONCENTRATION OF CREDIT For the fiscal year from January 1, 2017 to December 31, 2017, presented in comparative format FIGURES STATED IN THOUSANDS OF PESOS T O T A L C R E D I T S N U M B E R O F C U S T O M E R S DEBT BALANCE % OF TOTAL PORTFOLIO AMOUNT % OF TOTAL PORTFOLIO 10 LARGEST CUSTOMERS 15,224, ,865, FOLLOWING LARGEST CUSTOMERS 26,674, ,191, FOLLOWING LARGEST CUSTOMERS 12,322, ,527,894 7 REST OF CUSTOMERS 129,837, ,282, T O T A L (Note 16) 184,058, ,867,

35 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 35 of 96 SCHEDULE D BREAKDOWN OF TOTAL CREDIT ACCORDING TO MATURITY DATE For the fiscal year from January 1, 2017 FIGURES STATED IN THOUSANDS OF PESOS to December 31, 2017 D E S C R I P T I O N PAST DUE PORTFOLIO REMAINING TERM TO MATURITY 1 MONTH 3 MONTHS 6 MONTHS 12 MONTHS 24 MONTHS MORE THAN 24 MONTHS T O T A L Non-Financial Public Sector Financial Sector - 2,183, , , , ,880 1,864,813 6,463,503 Non-financial private sector and residents abroad 2,747,726 92,488,289 15,022,359 16,315,736 13,963,170 12,247,164 24,809, ,594,262 T O T A L (Note 16) 2,747,726 94,672,463 15,334,965 16,566,713 14,899,733 13,162,044 26,674, ,058,275

36 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 36 of 96 SCHEDULE E BREAKDOWN OF EQUITY INVESTMENTS For the fiscal year from January 1, 2017 to December 31, 2017, presented in comparative format FIGURES STATED IN THOUSANDS OF PESOS NAME In financial institutions, complementary and authorized activities (Note 2 item a) Shares / units held Class Face value per unit Votes per share Number Balances as of Balances as of Information on the issuing companies Principal line of business Data of latest publ. fin. statements Fiscal year/per. Closing date - Argentine ,413,458 5,573, Galicia Valores S.A. Goods Share holders equity Net income / (loss) for the fiscal year / period Ord. B.E , ,856 80,254 ALyC-prop. 12/31/2017 2, ,380 69,644 Tarjetas del Mar S.A ,160 Cred. Card Tarjetas Regionales S.A. Ord. "A" ,460, Tarjetas Regionales S.A. Ord. B ,426,035 6,049,130 4,235,095 Fin. Op. 12/31/2017 1,077,774 8,413,882 2,720,769 Compañía Financiera Argentina S.A. Ord ,835,625 1,202,763 1,179,033 Fin. Brok 12/31/ ,563 1,239, ,464 Cobranzas y Servicios S.A. Ord ,942 9,568 7,002 Services 12/31/ ,125 2,472 Procesadora Regional S.A. Ord ,178 1, Data processing 12/31/ ,264 20,853 5,888 Subtotal ,413,458 5,573, Argentine ,671 8, Mercado Abierto Electrónico S.A. Ord. 1, Sec. MKT. 9/30/ , ,193 Prisma Medios de Pago S.A. Interbanking S.A. Compensadora Electrónica S.A. Seguro de Depósitos S.A. Ord. Non 1 1 2,380,502 7,836 7,836 Services 9/30/ ,000 1,760,516 1,681,830 End. Ord. Non , E.F.T. 12/31/2016 1, , ,304 End. Ord. Non , Clearing 12/31/2016 1,564 35,341 19,615 End. Trust , Trust Adm 9/30/2017 2,197 47, Part. -Foreign ,308 7, Banco Latinoamericano de Exportaciones S.A. Ord.B ,862 9,308 7,858 Fin. Brok 9/30/2017 5,256,401 19,370,074 20,139,347 Subtotal ,979 16, Total financial institutions and complementary and authorized activities ,431,437 5,589, In other companies (Note 2 item b) - Argentine , , Galicia Warrants S.A. Electrigal S.A. Ord. B.E ,000 9,950 8,349 MKT.Dep. 12/31/2017 1,243 71,525 31,476 Ord. Non End ,396,875 5,454 5,455 Services 12/31/ , ,320 29,307 Argencontrol S.A. Ord. "A" , Agent 12/31/2016 1,540 4,379 1,112 Aguas Cordobesas S.A ,911 Services Net Investment S.A. (in liquidation) Sudamericana Holding S.A. Empresa de Transporte de Energía Eléctrica por Distribución Troncal de Cuyo S.A. (Distrocuyo S.A.) Garbin S.A. Ord. B.E , Investment 12/31/ Ord. Non End , , ,395 Investment 12/31/ , ,394 Ord. "C" 1 1 2,264,463 3,955 3,955 Tr.In.Elect. 12/31/ , ,166 57,691 Pref. B.E , Construction 9/30/ ,778 67,971 5,935 -Foreign S.W.I.F.T. S.C. Shares Communic. 12/31/ ,309 9,373, ,363 Subtotal , , Total in other companies , , Total equity investments ,570,376 5,742,

37 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 37 of 96 SCHEDULE F BANK PREMISES AND EQUIPMENT AND MISCELLANEOUS ASSETS For the fiscal year from January 1, 2017 to December 31, 2017, presented in comparative format FIGURES STATED IN THOUSANDS OF PESOS D E S C R I P T I O N Residual value at beginning of fiscal year Additions Transfers Withdrawals Losses due to impairment of value Deprec. for the fiscal year Assigned useful life (years) Amount Residual value as of Residual value as of BANK PREMISES AND EQUIPMENT (Note 2 Item ) - Real estate 1,251,990 12,652 1,015,262 3, ,217 2,213,899 1,251,990 - Furniture and fittings 150,869 84,042 43, , , ,869 - Machinery and equipment 811, ,009 88, ,942 1,274, ,517 - Vehicles 16,501 6,423 4,782 3, ,497 19,088 16,501 - Miscellaneous 10,295 6,577 11, ,189 26,355 10,295 Total 2,241, ,703 1,164,369 7, ,645 3,776,758 2,241,172 MISCELLANEOUS ASSETS (Note 2 Item ) - Construction in progress 938, ,831 (1,052,151) 1, , ,244 - Advances for purchase of assets 84,029 33,622 (35,905) 4, ,244 84,029 - Works of art 1, ,665 1,665 - Assets acquired through foreclosures 2,259-14, ,015 2,259 - Stationery and office supplies 58, ,128-76, ,359 58,706 - Other miscellaneous assets (Note 2 Item ) 119, ,325 (76,673) 5, , , ,115 Total 1,204, ,906 (1,150,729) 87, , ,351 1,204,018

38 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 38 of 96 SCHEDULE G INTANGIBLE ASSETS For the fiscal year from January 1, 2017 FIGURES STATED IN THOUSANDS OF PESOS to December 31, 2017, presented in comparative format D E S C R I P T I O N Residual value at beginning of fiscal year Additions Transfers Withdrawals Amort. for the fiscal year Assigned useful life (years) Amount Residual value as of Residual value as of ORGANIZATION AND DEVELOPMENT EXPENSES (Note 2 Item ) 2,210,404 1,396,963 (13,640) ,196 3,094,869 2,210,404 TOTAL 2,210,404 1,396,963 (13,640) ,196 3,094,869 2,210,404

39 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 39 of 96 SCHEDULE H CONCENTRATION OF DEPOSITS For the fiscal year from January 1, 2017 to December 31, 2017, presented in comparative format FIGURES STATED IN THOUSANDS OF PESOS FISCAL YEAR N U M B E R O F C U S T O M E R S DEBT BALANCE % OF TOTAL % OF TOTAL DEBT BALANCE PORTFOLIO PORTFOLIO 10 LARGEST CUSTOMERS 10,218, ,236, FOLLOWING LARGEST CUSTOMERS 11,244, ,578, FOLLOWING LARGEST CUSTOMERS 6,941, ,954,354 2 REST OF CUSTOMERS 172,479, ,869, T O T A L 200,884, ,639,

40 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 40 of 96 SCHEDULE I BREAKDOWN OF DEPOSITS, OTHER LIABILITIES RESULTING FROM FINANCIAL BROKERAGE AND For the fiscal year from January 1, 2017 SUBORDINATED NEGOTIABLE OBLIGATIONS ACCORDING TO THEIR MATURITY DATES FIGURES STATED IN THOUSANDS OF PESOS to December 31, 2017 D E S C R I P T I O N REMAINING TERM TO MATURITY 1 MONTH 3 MONTHS 6 MONTHS 12 MONTHS 24 MONTHS MORE THAN 24 MONTHS (1) T O T A L Deposits 180,760,584 12,606,433 3,427,812 4,010,689 67,877 11, ,884,407 Other Liabilities Resulting from Financial Brokerage Argentine Central Bank 15, ,323 Banks and International Entities 1,415, ,857 1,169, , , ,634 5,055,071 Unsubordinated Negotiable Obligations - 139, ,353,672 4,493,250 Loans from Domestic Financial Institutions 88,793 86, , , ,542 1,106,125 2,265,950 Other 18,479,209 6,261 7,346 16,570 39,695 99,137 18,648,218 Total 19,999, ,697 1,324,394 1,305, ,931 6,003,568 30,477,812 Subordinated Negotiable Obligations 174, ,653,770 4,828,018 TOTAL 200,933,847 13,596,130 4,752,206 5,315, ,808 10,668, ,190,237 (1) Includes: Current Accounts Savings Accounts Time Deposits Other Deposits 33,272, ,465,255 45,714,466 1,308,755

41 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 41 of 96 SCHEDULE J CHANGE IN ALLOWANCES AND PROVISIONS For the fiscal year from January 1, 2017 to December 31, 2017, presented in comparative format FIGURES STATED IN THOUSANDS OF PESOS BREAKDOWN Balances at beginning of fiscal year, restated Increases in constant currency Decreases in constant currency Reversals Charge Offs Monetary income (loss) resulting from allowances Balance as of Balance as of ALLOWANCES - Loans - For uncollectibility risk 2,187,049 2,375, ,008-3,593,540 2,187,049 - Other Receivables resulting from Financ. Brok. - For uncollectibility risk and impairment of value risk - Receivables for financial leases - For uncollectibility risk - Equity investments - For impairment of value risk - Miscellaneous receivables - For uncollectibility risk 182,371 19,310 17, , ,371 14,186 8, ,246 14, , ,796-34,009 1, ,562 34,009 T O T A L 2,417,615 2,672,758 17, ,878-4,102,724 2,417,615 PROVISIONS - For severance payments 41,403 14,837 5,431 15,283-35,526 41,403 - For other contingencies 202, ,600 13,104 60, , ,867 - Differences due to dollarization of judicial deposits 11,558 2, ,701 11,558 - For administrative, disciplinary and penal penalties 5, ,483 5,131 T O T A L 260, ,990 19,593 75, , ,959 Purposes for which they were set up: Allowances Loans, other receivables resulting from financial brokerage, receivables for financial leases and miscellaneous receivables - For uncollectibility risk (see Note 2 item ) Calculated according to the assessment of debtors performance, economic and financial condition, and the guarantees securing their related transactions, as established by regulations in force. Equity Investments - For impairment of value risk Set up according to the characteristics and market value at fiscal year-end for each of the assets subject to possible adjustments. Provisions For Severance Payments Updated amount estimated payable under labor lawsuits brought against the Bank. (see Note 2 item ) For other contingencies Updated estimated amounts payable under commercial lawsuits, tax claims and other potential contingencies (see note ). - Differences due to dollarization of judicial deposits Amount related to judicial deposits that were subject to pesification.

42 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 42 of 96 SCHEDULE K COMPOSITION OF CAPITAL STOCK For the fiscal year from January 1, 2017 to December 31, 2017, presented in comparative format FIGURES STATED IN THOUSANDS OF PESOS S h a r e s C a p i t a l S t o c k (1) C L A S S Number Votes per Share Issued Outstanding Treasury Stock Pending issuance or Distribution (Note 13 and SCSE) Allotted Paid in Unpaid ORDINARY SHARES - Class "A" Class "B" 795,973, , , ,974 - TOTAL AS OF ,973, , , ,974 - TOTAL AS OF ,326, , ,327 - (1) Stated at face value. Restatement has been included in ADJUSTMENTS TO SHAREHOLDERS' EQUITY.

43 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 43 of 96 SCHEDULE L BALANCES IN FOREIGN CURRENCY For the fiscal year from January 1, 2017 FIGURES STATED IN THOUSANDS OF PESOS to December 31, 2017, presented in comparative format C A P T I O N S HEAD OFFICE AND BRANCHES IN ARGENTINA BRAN- CHES ABRO- AD EURO US DOLLAR MARK POUND STER. FRENCH FRANC SWISS FRANC YEN OTHER ASSETS Cash and Due from Banks 34,639,382-34,639, ,223 34,062,800-10,948-10,641 1,101 46,669 39,465,042 Government and corporate securities 5,855,407-5,855,407-5,855, ,277,057 Loans 39,409,646-39,409,646 28,108 39,381, ,116,040 Other receivables resulting from Financ. Brok. 9,130,010-9,130,010 1,299 9,128, ,187,883 Rec. for financial leases 314, , , ,621 Equity investments 9,542-9, , ,032 Miscellaneous Receivables 154, , , ,586 Unallocated items 3,223-3, , ,918 TOTAL 89,516,071-89,516, ,875 88,909,588-11,122-10,710 1,101 46,675 67,242,179 LIABILITIES Deposits 70,420,178-70,420,178-70,420, ,066,989 Other liabilities resulting from Financ. Brok. 11,733,358-11,733, ,614 11,585, , ,095 12,257,560 Miscellaneous liabilities 28,324-28, , ,713 Subordinated Negotiable Obligations 4,828,018-4,828,018-4,828, ,065,255 Unallocated items ,005 TOTAL 87,010,443-87,010, ,619 86,862, , ,095 67,408,522 MEMORANDUM ACCOUNTS DEBIT (Except for Contra Items) Contingent Accounts 10,303,307-10,303,307 29,889 10,273, ,332,886 Control Accounts 126,476, ,476,179 20, ,446, ,924 62,636,611 Derivatives ,512 Trust Accounts 2,187,194-2,187,194-2,187, ,846,548 TOTAL 138,966, ,966,680 50, ,907, ,924 68,965,557 CREDIT (Except for Contra Items) Contingent Accounts 3,829,769-3,829, ,571 3,392, ,704,916 Control Accounts 1,061-1,061-1, ,537 Derivatives ,463 TOTAL 3,830,830-3,830, ,571 3,393, ,909,916

44 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 44 of 96 SCHEDULE N FINANCIAL ASSISTANCE TO RELATED PARTIES For the fiscal year from January 1, 2017 to December 31, 2017, presented in comparative format FIGURES STATED IN THOUSANDS OF PESOS C O N D I T I O N D E S C R I P T I O N POTENTIAL RISK/ NORMAL INADEQU. PERF. WITH PROBLEMS/ DEFICIENT PERF. HIGH RISK OF INSOLVENCY / DIFF. COLLECTION UNCO- LLECTIBLE UNCO- LLECTIBLE DUE TO TECHNICAL REASONS T O T A L NOT YET DUE PAST DUE NOT YET DUE PAST DUE LOANS 1,185, ,185,583 1,510,915 - ADVANCES 152, , ,632 Without Preferred Collateral or Counter-guarantees - MORTGAGE AND PLEDGE LOANS With "B" Preferred Collateral and Counter-guarantees Without Preferred Collateral or Counter-guarantees 152, , ,632 34, ,479 20,832 31, ,401 20,598 3, , PERSONAL LOANS 3, ,566 2,301 Without Preferred Collateral or Counter-guarantees 3, ,566 2,301 - OTHER 994, ,985 1,061,150 Without Preferred Collateral or Counter-guarantees OTHER RECEIVABLES RESULTING FROM FINANCIAL BROKERAGE 3.REC. FOR FINANCIAL LEASES AND OTHERS 4.CONTINGENT LIABILITIES AND DERIVATIVES 5.EQUITY INVESTMENTS AND CORPORATE SECURITIES 994, ,985 1,061, , ,126 1,073, , , , , , ,744 1,728, ,728,711 2,333,614 TOTAL 4,319, ,319,697 5,831,744 TOTAL ALLOWANCES (*) 21, ,081 28,134 (*) Includes the allowances on the performing portfolio. (Comm. "A" 2729 as amended and supplemented)

45 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 45 of 96 SCHEDULE O - DERIVATIVE FINANCIAL INSTRUMENTS AND REPURCHASE AGREEMENT TRANSACTIONS For the fiscal year from January 1, 2017 to December 31, 2017 FIGURES STATED IN THOUSANDS OF PESOS Item Purpose of Transactions Made Underlying Assets Kind of Settlement Trading Environment or Counterpart Agreed Average Weighted Term (*) Residual Average Weighted Term (*) Average Weighted Term for Diff. Settlement (**) Amount FOREIGN CURRENCIES FORWARDS - OCT - Purchases Brokerage - own account - Foreign currency Daily difference MAE ,301 - OCT - Sales Brokerage - own account - Foreign currency Daily difference MAE ,398,650 - ROFEX - Purchases Brokerage - own account - Foreign currency Daily difference ROFEX ,265,202 - ROFEX - Sales Brokerage - own account - Foreign currency Daily difference ROFEX ,514,580 FOREIGN CURRENCIES FORWARDS - OTC - FORWARDS - Purchases Brokerage - own account - Foreign currency Upon due date of differences OTC - Domestic residents - Non financial sector ,014 - FORWARDS - Sales Brokerage - own account - Foreign currency Upon due date of differences OTC - Domestic residents - Non financial sector ,706,769 REPURCHASE AGREEMENT TRANSACTIONS - Forward Sales Brokerage - own account - National government securities With delivery of the underlying asset MAE ,697,406 - Forward purchases Brokerage - own account - National government securities With delivery of the underlying asset MAE ,132,573 SWAPS - Variable for fixed interest rate swaps Brokerage - own account - Other Other MAE ,000 (*) Expressed in months. 0 to 15 days = 0 ; 16 to 30 days = 1. (**) Expressed in days.

46 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 46 of 96 PROFIT DISTRIBUTION PROJECT For the fiscal year from January 1, 2017 FIGURES STATED IN THOUSANDS OF PESOS to December 31, 2017 RETAINED EARNINGS/LOSSES 6,914,843 To Legal Reserve (20% of 6,914,847, pesos) 1,382,969 SUBTOTAL 1 5,531,874 Less: Adjustments (items 2.1.1, 2.1.2, and of the "Profit Distribution" amended text) 0 SUBTOTAL 2 5,531,874 DISTRIBUTABLE BALANCE (1) 5,531,874 (1) The Board of Directors has decided to postpone de proposal for allocation of earnings to be analyzed by the Shareholders' Meeting until the meeting where the Annual Report for the fiscal year ended on December 31, 2017 is to be considered.

47 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 47 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) NOTE 1 - DESCRIPTION AND CORPORATE OWNERSHIP Founded in 1905, Banco Galicia y Buenos Aires S.A. is one of the largest private-sector banks in the Argentine financial system and a leading financial services provider in the country. As an universal bank, and through different affiliated companies and distribution channels, offers a wide range of services to individuals as well as companies, and operates one of the most extensive and diversified distribution networks among private-sector banks in Argentina. The Bank is a company controlled by Grupo Financiero Galicia S.A., a financial services holding company created in 1999, which has full control over its shares and votes. NOTE 2 - BASIS OF PRESENTATION OF THE FINANCIAL STATEMENTS DISCLOSURE CRITERIA The financial statements, which stem from accounting records, are presented in line with Argentine Central Bank provisions regarding financial reporting requirements for the publication of quarterly/annual financial statements, and with the guidelines of General Resolution No. 622/13 of the CNV. This resolution provides that, in all cases, the consolidated financial statements must precede the individual financial statements; therefore, these financial statements have been presented in accordance with this guideline. These financial statements have been adjusted for inflation as mentioned in note 2 item Certain financial statement figures for the year ended December 31, 2016, have been reclassified for purposes of their comparative presentation with those of the current year ACCOUNTING STANDARDS USED UNIT OF MEASUREMENT The accounting standards in force in the Autonomous City of Buenos Aires (C.A.B.A.) set forth that financial statements must be expressed in constant currency, pursuant to the provisions of Technical Resolutions (R.T.) No. 6 and No. 17 of the Argentine Federation of Professional Councils in Economic Sciences (F.A.C.P.C.E.), as amended by R.T. No. 39, approved by the Professional Council in Economic Sciences of the Autonomous City of Buenos Aires on April 16, 2014, as well as Interpretation No. 8 by the F.A.C.P.C.E. These regulations set forth that an adjustment for inflation must be applied within a context of inflation, which, among other characteristics, entails a three-year accumulated inflation rate that reaches or surpasses 100%, taking into account the domestic wholesale price index published by the National Statistics and Census Institute. The Bank financial statements reflect the effects of the changes in the purchasing power of the currency up to February 28, 2003, having discontinued the adjustment for inflation as from said date, pursuant to the provisions of Decree No. 664/03 of the National Executive Branch, Section No. 268 of General Resolution No. 7/2005 by the Inspección General de Justicia (the Argentine Superintendency of Companies ), Communiqué A 3921 by the B.C.R.A. and General Resolution No. 441/03 by the National Securities Commission. Resolution MD No. 41/03 of the Professional Council in Economic Sciences of the Autonomous City of Buenos Aires ( C.P.C.E.C.A.B.A. ) established the discontinuation of the recognition of the changes in the purchasing power of the currency, effective October 1, As of fiscal year-end, the macroeconomic context can be defined as a hyperinflationary economy taking into account the guidelines set forth by the GAAP and the government's expectations of lowering inflation levels. While the Controlling authorities have not issued a decision on the issue, as of fiscal year-end, the conditions for the application of the adjustment for inflation are not met; however, the fluctuations of relevant economic variables that took place over the past fiscal years should be taken into account when reading and analyzing these Financial Statements MAIN VALUATION CRITERIA: FOREIGN CURRENCY ASSETS AND LIABILITIES These are stated at the US Dollar exchange rate set by the Argentine Central Bank, at the close of operations on the last business day of each month. As of December 31, 2017 and 2016, balances in US dollars were converted at the reference exchange rate ($18,7742 and $15,8502, respectively) established by the Argentine Central Bank. Assets and liabilities valued in foreign currencies other than the US Dollar have been converted into the latter currency using the swap rates informed by the Argentine Central Bank GOVERNMENT AND CORPORATE SECURITIES GOVERNMENT SECURITIES The Argentine Central Bank set forth, based on the most likely allocation of assets, two valuation criteria for holdings of debt instruments of the non-financial Public Sector. a) Fair market value: Includes government securities and monetary regulation securities included in the volatility or in the present value lists issued by the Argentine Central Bank. These are recorded at the market closing price of securities or present value, plus the value of amortization and interest coupons due and receivable.

48 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 48 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) b) Cost plus yield value: Includes government securities and Argentine Central Bank monetary regulation securities not included in the previous item. These are recorded at their incorporation value increased on an exponential basis according to their internal rate of return (IRR), and its accrual is recorded in the income statement or in a contra asset account, according to the securities in question: B1) Sovereign debt instruments stemming from sovereign debt exchanges for other sovereign debt securities. Should their market value be lower than the accounting value, 50% the monthly accrual of the IRR it is recorded with a counterpart under allowances, which is reversed by means of an allocation to income as long as their balance exceeds the positive difference between their market and accounting value. B2) Argentine Central Bank's currency regulation securities. The monthly accrual of the IRR is charged to profit and loss. B3) National government securities not stemming from the sovereign debt exchange not included in the volatility or in the present value lists issued by the Argentine Central Bank. These are stated at present value of cash flow discounted at the internal rate of return of securities of similar characteristics and "duration" with volatility published by said institution. When the accounting value exceeds the present value, the accrual thereof is charged to contra asset accounts. In addition, and pursuant to the policies established by the entity, securities that may be valued at fair market value but are valued at cost plus IRR may be charged to this segment provided the aim is to obtain contractual cash flows. In those cases, the maximum amount that may be allocated to this option shall not exceed liquid assets corresponding to 40% of deposits. As of December 31, 2017 and 2016, and taking into account the abovementioned valuation criteria, the Bank stated its holdings as follows: I) Holdings recorded at fair market value: It includes securities held for trading, valued according to item a). II) Holdings recorded at cost plus yield: Within this segment, the Bank recorded holdings of government securities in pesos and US dollars (pursuant to the breakdown in Schedule A). Had these securities been valued at market price, for a face value as of December 31, 2017 and 2016 of $ 2,349,302 and $1,871,933 the shareholders equity would have increased by $3,450 and $14,663, respectively. III) Securities Issued by the Argentine Central Bank: a) Recorded at fair market value: Valued pursuant to the provisions of item a). b) Recorded at cost plus yield value: Valued pursuant to the provisions of item b). Had these securities been marked to market as of December 31, 2017 and December 31, 2017 and 2016, the shareholders' equity would have increased by $152 and decreased by $ 12,174 respectively. Due to the fact that these securities have no volatility nor current value published by the Argentine Central Bank, the market value thereof has been calculated based on the corresponding cash flow discounted at the internal rate of return of securities of similar characteristics and "duration" with volatility published by said institution. The criteria mentioned in the above items have been applied to transactions involving said bonds allocated to loans, guarantees, transactions to be settled and repurchase agreement transactions, if applicable INVESTMENTS IN CORPORATE SECURITIES WITH QUOTATION These securities are valued at the fiscal year-end closing price, less estimated selling costs, when applicable ACCRUAL OF ADJUSTMENTS, INTEREST, EXCHANGE RATE DIFFERENCES, PREMIUMS ON FUTURE TRANSACTIONS AND VARIABLE RETURNS For foreign currency transactions and for local currency transactions with a principal adjustment clause, as well as for those in which rates have been prearranged for terms up to 92 days, the accrual has been recognized on a linear basis. For local currency transactions at rates arranged for longer periods, interest has been accrued on an exponential basis. As of the end of the previous fiscal year, the Bank records placements with variable rates, pursuant to the provisions of the Argentine Central Bank. Fixed rates for each transaction were accrued pursuant to the provisions of the first paragraph, while variable rates were accrued by applying the rate proportion agreed upon to the positive variation in the price of the underlying taken as a base to determine the variation, between the time of agreement and the end of the month (see note 9). The adjustment from the application of the CER was accrued for lending and borrowing transactions including other assets, deposits and liabilities expressed in purchasing power units (U.V.A.) pursuant to legal and/or contractual terms and conditions. As regards lending transactions, the Bank has ceased to recognize results once the debtor is classified as non-performing FINANCIAL TRUST DEBT SECURITIES AND PARTICIPATION CERTIFICATES

49 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 49 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) The debt securities added at par have been recorded at their technical value; the remaining holdings were valued at their cost increased according to their internal rate of return. Financial trusts participation certificates are valued taking into account the participation in the assets net of liabilities that stem from the financial statements of the respective trusts, corrected for the effect on them of the application of Argentine Central Bank regulations, when applicable. Trust which underlying assets are public sector assets have been valued taking into account the criteria described in item b). In the case of the Participation Certificate of Galtrust I financial trust, it has been stated pursuant to the provisions of item b3). As of December 31, 2017 and 2016 there are no differences between the book value and the market value of said certificate NEGOTIABLE OBLIGATIONS AND DEBT SECURITIES WITHOUT QUOTATION The holdings of these securities are valued at acquisition cost increased on an exponential basis according to their internal rate of return RECEIVABLES FROM FINANCIAL LEASES These receivables have been recorded at the current value of the sum of installments plus the residual value previously set forth, estimated pursuant to the terms and conditions agreed upon in the corresponding lease agreements, applying the internal rate of return EQUITY INVESTMENTS a. In Financial Institutions and Supplementary and Authorized Activities Argentine: Galicia Valores S.A., Tarjetas Regionales S.A. y Procesadora Regional S.A. (See note 26) have been valued according to the equity method, based on these companies latest financial statements available. When applicable, the shareholders' equity stemming from the financial statements of said companies has been adjusted to reflect the effect of the application of Argentine Central Bank regulations. Regarding Compañía Financiera Argentina S.A. y Cobranzas y Servicios S.A., on January 12, 2017, the Board of Directors decided to accept an offer to purchase all shares held made by Mr. Julio Alfredo Fraomeni and Galeno Capital S.A.U. The Argentine Central Bank authorized said transaction through Resolution No On February 2, 2018 both companies shares have been sold and recorded in each company book in the name of their new holders for a price of $1,011,420 and $21,460 respectively. Said amounts are subject to the approval of the buyers who have the power to make objections during a period of up to 45 calendar days as from January 29, The effect of this sale on total consolidated assets and liabilities shall be a decrease of $7,811,734 and $6,561,698 respectively. This transaction is expected not to have a significant impact on the Bank Shareholders' equity. As of December 31, 2017, based on the above, the book value of said interest did not exceed the respective recoverable values. Also, on March 30, 2017 the sale of holdings in Tarjetas Del Mar S.A. was closed (see note 2 Consolidation Basis for the Consolidated Financial Statements). As of the end of the previous fiscal year, said company has been assessed pursuant to the equity method. The remaining companies with supplementary business activities have been valued at acquisition cost restated as mentioned in note 2 item 2.2.1, plus stock and cash dividends pending collection, as appropriate. b. In Other Companies Argentine: These are valued at acquisition cost restated as mentioned in note 2 item 2.2.1, plus stock and cash dividends pending collection, as appropriate. The investments in Sudamericana Holding S.A., Galicia Warrants S.A. and Net Investment S.A. (in liquidation) have been valued according to the equity method, which was also used by Grupo Financiero Galicia S.A., the controlling shareholder of the Bank. The shareholders equity of those companies has been adjusted for the effect on them of the application of Argentine Central Bank regulations. The General Extraordinary Shareholders' Meeting of Net Investment S.A. held on May 16, 2017 decided to unanimously approve the company early dissolution and winding up pursuant to the provisions of Section 94 subsection 1 of the Corporations Law, i.e., by the decision of its partners, being the financial statements dates December 31, 2017 the last available for the company prior to its final winding up. During this fiscal year, the Bank accepted the offer for the purchase of its total holdings in Aguas Cordobesas S.A., which included 3,250,000 Class E shares, of which 2,350,000 were freely transferable and were paid through an initial payment of $ 38,335. During October 2017, the government of the province of Córdoba, as Licensor of the service provided by the company, has authorized the transfer of the remaining 900,000 Class E shares, having received the amount of $ 9,665 as balance of the price. Foreign: These are stated at cost, plus stock dividends recognized at their face value. The procedure referred to in note 2 item has been applied for conversion into local currency.

50 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 50 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) BANK PREMISES AND EQUIPMENT AND MISCELLANEOUS ASSETS Bank premises and equipment and miscellaneous assets have been valued at their restated cost (see note 2 item 2.2.1), plus the increase in value of the real estate property derived from a technical revaluation made in 1981, less accumulated depreciation. Financial leases that basically transfer the risks and benefits inherent to the leased item, are recognized at the beginning of the lease, at the lowest of the cash value of the leased item or the current value of the cash flow set forth in the agreement. The depreciation of assets is determined based on their estimated useful lives, expressed in months. A full month's depreciation is recognized in the month in which an asset is acquired, while no depreciation is recognized in the month in which it is sold or retired, over a maximum of 600 months for real estate property, 120 months for furniture and fittings and 60 months for the rest of assets. The residual value of the assets, taken as a whole, does not exceed their combined value of economic use OTHER MISCELLANEOUS ASSETS These assets are valued at their restated acquisition cost (see note 2 item 2.2.1), less the corresponding accumulated depreciation. The depreciation charge for these assets is calculated following the same criterion as that mentioned in the preceding section INTANGIBLE ASSETS Intangible assets have been valued at their restated acquisition cost (see note 2 item 2.2.1), less the corresponding accumulated amortization, calculated proportionally over the estimated number of months of useful life. Amortization has been recognized on a straight-line basis over a maximum of 60 months for "Organization and Development Expenses" DERIVATIVES TRANSACTIONS These transactions have been recorded pursuant to the provisions of note ALLOWANCE FOR LOAN LOSSES These have been established based upon the estimated uncollectibility risk of the Bank s credit portfolio, which results from an evaluation of debtors' compliance with their payment obligations, their economic and financial condition and the guarantees securing their related transactions, in line with Argentine Central Bank regulations INCOME TAX The Bank determines the Income Tax charge by applying the tax rate in force to the estimated taxable income, in accordance with Argentine Central Bank s regulations. As of December 31, 2017 and 2016, the amounts determined for such tax of $2,616,000 and $1,854,000, respectively were charged to the results for the fiscal year under Income Tax. During September 2017, the Bank submitted before the A.F.I.P. claims for double taxation of the Income tax corresponding to fiscal years 2014 and 2016 for $ $433,815.- and $ $944,338.- respectively. Said proceedings are based on previous jurisprudence that set forth the unconstitutionality of the standards that disqualify the application of the tax adjustment for inflation, thus generating confiscatory scenarios. As of fiscal year end, the Bank does not record any assets related to the contingent assets stemming from the above mentioned proceedings. -Taxation reform in Argentina: It is worth mentioning that on December 29, 2017 the National Executive Power enacted Law No Income tax. This law has introduced several changes in the way income tax is treated which key characteristics are the following: Income tax rate: Income tax rates levied on Argentine companies shall be gradually reduced from 35% to 30% for fiscal years starting from January 1, 2018 to December 31, 2019, and to 25% for fiscal periods starting from January 1, Dividend tax: A tax on dividends or earnings distributed by Argentine companies or permanent establishments to: individuals, undivided states or foreign beneficiaries, under the following conditions: (i) dividends stemming from earnings corresponding to fiscal years starting as from January 1, 2018 to December 31, 2019 shall be subject to a 7% withholding; and (ii) dividends stemming income obtained during fiscal years starting as from January 1, 2020 and thereafter, shall be subject to a 13% withholding. Dividends stemming from earnings obtained as to the fiscal year prior to one starting on January 1, 2018 shall remain subject to, for all beneficiaries thereof, a 35% withholding on the amount exceeding the accrued distributable earnings before taxes (equalization tax transition period) MINIMUM PRESUMED INCOME TAX The Minimum Presumed Income Tax is determined by applying the statutory rate of 1% on the computable assets at the end of the fiscal year. Since this tax is supplementary to the Income Tax, tax liability for each fiscal year will coincide with the higher of the two taxes. However, if the tax on Minimum Presumed Income were to exceed Income Tax in a given fiscal year, such excess may be computed as a payment on account of the Income Tax to be generated in any of the next 10 fiscal years. The recognition of this deferred asset and its realizability stem from the ability to generate sufficient future taxable income for offsetting purposes, in accordance with projections prepared in conformity with Argentine Central Bank regulations.

51 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 51 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) As of December 31, 2017 and 2016, the Income Tax determined amount exceeded that of the Minimum Presumed Income Tax; therefore, the former tax was provisioned LIABILITIES DUE TO CLIENT LOYALTY PROGRAM QUIERO! The Bank estimates the value of points granted to clients under the "Quiero!" program through a mathematical model that takes into account assumptions on exchange percentage, cost of points exchanged based on the combination of available products and customer preference, as well as the expiration of unused points. As of December 31, 2017 and 2016 the Bank recorded $553,621 and $378,636 respectively under Miscellaneous liabilities - Other, for unredeemed points SEVERANCE PAYMENTS The Bank directly expenses severance payments. The amounts that the Bank may possibly have to pay for labor lawsuits are covered by a provision, which is recorded under "Liabilities - Provisions for Severance Payments (See Schedule J) OTHER PROVISIONS As of December 31, 2017 and 2016 provisions have been set up in order to face potential labor, legal and tax-related claims and other potential contingencies (See Schedule J) SHAREHOLDERS' EQUITY Shareholders' Equity accounts have been restated following the procedure mentioned in note 2 item 2.2.1, except for the "Capital Stock" account, which is carried at its original value (See note 13). Movements for the fiscal year are recorded in historical currency. The adjustment stemming from the restatement of that account is shown under Adjustment to Shareholders Equity" ACCOUNTING ESTIMATES The preparation of accounting statements as of a certain date requires the Bank to make estimates and assessments of the amount of assets, liabilities and contingent assets and liabilities, as well as income and expenses recorded during the fiscal year. In this sense, the Bank makes estimates in order to calculate at a given time, among others, the recoverable value of assets, loan loss and other contingencies provisions, depreciations and the Income Tax charge. Future actual results may differ from estimates and assessments made at the date these financial statements were prepared. NOTE 3 - RESTRICTED ASSETS AND OTHER CONTINGENT LIABILITIES As of December 31, 2017, the Bank s ability to dispose of the following assets was restricted: a. Cash and Due from Banks and Government Securities - For margin requirements and repo transactions $ 125, For transactions at the Mercado a Término de Rosario $ 234, For credit and debit card transactions $ 1,184, For attachments $ Liquid matching entry required to operate as CNV agents $ 17, For the contribution to the M.A.E. Joint Guarantee Fund $ 14, For other transactions $ 7,805.- b. Special Escrow Accounts Cash and Due from Banks, Government Securities and Secured Loans as collateral for transactions involving electronic clearing houses, checks for settling debts and other similar transactions, which amount to $3,609,863. c. Deposits in favor of the Argentine Central Bank - Unavailable deposits related to transactions $ d. Equity Investments The "Equity Investments" caption includes 1,222,406 Electrigal S.A. ordinary registered non-endorsable non-transferable shares, which transfer is subject to the approval of national authorities, pursuant to the provisions of the concession agreement duly subscribed. e. Contributions to Garantizar S.G.R. Risk Fund The Bank, in its capacity as sponsoring partner in Garantizar S.G.R. Risk Fund, covenants to maintain the contributions thereto for 2 years. The Bank records $152,000.

52 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 52 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) f. Guarantees Granted for Direct Obligations Breakdown Amount PROPARCO credit line 39,731 Loans Program granted to the Province of San Juan 50,940 Program for the Competitiveness of Regional Economies (PROCER). 204,520 Total restricted assets for the above items as of December 31, 2017 amount to $5,641,277 while as of December 31, 2016 they amounted to $ 4,544,584. NOTE 4 - RESTRICTIONS IMPOSED ON THE DISTRIBUTION OF PROFITS Argentine Central Bank regulations require that 20% of the profits shown in the Income Statement at the end of the fiscal year, plus (less) prior fiscal year adjustments and, if applicable, accumulated losses, be allocated to a legal reserve. This proportion applies regardless of the ratio between the legal reserve and the capital stock. Should the legal reserve be used to absorb losses, earnings shall be distributed again only if the value of the legal reserve reaches 20% of the capital stock plus the capital adjustment. According to the conditions set forth by the Argentine Central Bank, profits may only be distributed as long as results are positive, after deduction of retained earnings, as well as the Legal reserve and the reserve established by law, which creation may be enforceable, under the following unaccounted items: the difference between the accounting and the market value of public sector assets and/or debt issued by the Argentine Central Bank not marked to market, the amount of assets representing the losses from lawsuits related to deposits, and any adjustments required by the external auditors or the Argentine Central Bank not having been recognized. In addition, to be able to distribute profits, a financial institution must comply with the capital adequacy rule, with the minimum capital requirement and the regulatory capital calculated, only for the purpose of determining its ability to distribute profits, by deducting from its assets and retained earnings all the items mentioned in the paragraph above. Likewise, in such calculation, a financial institution will not be able to compute the temporary reductions in the capital affecting minimum capital requirements, computable regulatory capital or a financial institution s capital adequacy. Since January 2016, the B.C.R.A. set forth that financial entities must have a capital preservation margin in addition to the minimum capital requirement of 3.5% of risk-weighted assets. Said margin shall be paid-in exclusively with the level 1 ordinary capital, net of deductible items. The distribution of profits shall be limited when the level and composition of the Bank computable equity places it within the range of the capital preservation margin. Profit distribution requires the prior authorization of the Superintendency of Financial Institutions and Exchange Bureaus of the Argentine Central Bank, which intervention will have the purpose of verifying that the aforementioned requirements have been fulfilled. NOTE 5 - TRANSACTIONS WITH COMPANIES INCLUDED IN SECTION 33 OF LAW No. 19,550 The more significant balances recorded in the income statement accounts, in connection with the controlling company and the controlled or related companies are detailed below in comparative format with those as of December 31, 2016: C O M P A N Y -Tarjetas del Mar S.A. -Tarjetas Cuyanas S.A. DECEMBER 2017 Loans DECEMBER 2016 Asset and Liabilities Accounts Bank Assets Other receivables resulting from financial brokerage DECEMBER 2017 DECEMBER ,026 30,793 36, ,382 Receivables for financial leases DECEMBER 2017 DECEMBER Tarjeta Naranja S.A. 21,526 80, , , , ,926 -Galicia Warrants S.A. 13,913 1,250 1,450 2,430 -Interbanking S.A. 7,293 3,784 -Prisma Medios de Pago S.A. -Compañía Financiera Argentina S.A. -Grupo Financiero Galicia S.A. 729, , , ,893 Miscellaneous Receivables DECEMBER 2017 DECEMBER , ,346 1,131, ,269 3,144 C O M P A N Y Asset and Liabilities Accounts Bank Liabilities

53 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 53 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) -Seguro de Depósitos S.A. 21,366 14,966 -Cobranzas Regionales S.A. 2,753 8,370 -Galicia Valores S.A. 6,484 32,562 Deposits Other Liabilities Resulting from Financial Brokerage DECEMBER 2017 DECEMBER 2016 DECEMBER 2017 DECEMBER Tarjetas Cuyanas S.A. 10,858 11,276 -Tarjeta Naranja S.A. 61, ,515 65,167 30,405 -Tarjetas del Mar S.A. 3,848 -Interbanking S.A. 2,745 2,757 -Prisma Medios de Pago S.A. 1,090,751 1,039,642 -Compañía Financiera Argentina S.A. 6,576 4,823 -Procesadora Regional S.A. 5,338 -Sudamericana Holding S.A. 5,947 10,306 -Compensadora Electrónica S.A. 13,840 -Grupo Financiero Galicia S.A. 11,638 -Galicia Warrants S.A. 1,144 Memorandum Accounts C O M P A N Y DECEMBER 2017 Loans Granted DECEMBER 2016 Forward Sales of Foreign Currencies to be Settled in Pesos DECEMBER 2017 DECEMBER Galicia Valores S.A. 80,000 10,000 -Tarjeta Naranja S.A. 100,000 -Tarjetas Cuyanas S.A. 350,000 -Compañía Financiera Argentina S.A. 200, , , ,016 -Galicia Warrants S.A. 2,317 -Grupo Financiero Galicia S.A. 919,936 C O M P A N Y -Tarjetas del Mar S.A. -Tarjetas Cuyanas S.A. -Tarjeta Naranja S.A. -Grupo Financiero Galicia S.A. -Prisma Medios de Pago S.A. DECEMBER 2017 Bank Profits/Losses Net Financial Income Net Income from Serv. and Misc. Income Expenses Income Expenses DECEMBER DECEMBER DECEMBER DECEMBER DECEMBER DECEMBER ,255 DECEMBER ,823 13,773 10,206 9,991 35,384 71,019 64, ,991 22,466 31, , ,990 10,653 23,196 11,638 12,576 3,600 3,600 3, , ,268 1,285, ,336

54 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 54 of 96 -Compañía Financiera Argentina S.A. -Interbanking S.A. -Galicia Warrants S.A. -Procesadora Regional S.A. -Sudamericana Holding S.A. -Galicia Seguros S.A. NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) 148,435 10,625 3, ,244 5,864 2,658 5,282 1,784 3,228 2,078 28,534 4,724 NOTE 6 CONTRIBUTION TO THE DEPOSIT INSURANCE SYSTEM Law No. 24,485 and Decree No. 540/95 established the creation of the Deposit Insurance System to cover the risk attached to bank deposits, in addition to the system of privileges and safeguards envisaged in the Financial Institutions Law. The National Executive Branch through Decree No. 1127/98 established the maximum limit covered by the insurance system for demand deposits and time deposits denominated either in pesos and/or in foreign currency. Currently, said limit is $ 450. This system does not cover deposits made by other financial institutions (including time deposit certificates acquired through a secondary transaction), deposits made by parties related to the Bank, either directly or indirectly, deposits of securities, acceptances or guarantees and those deposits set up at an interest rate exceeding the one established regularly by the B.C.R.A. based on a daily survey conducted by it. Also excluded are those deposits whose ownership has been acquired through endorsement and those placements made as a result of incentives other than the interest rate and fixed balances stemming from deposits and other excluded transactions. This system has been implemented through the creation of the Deposit Insurance Fund ( FGD ), which is managed by a company called Seguros de Depósitos S.A. (SEDESA). The shareholders of SEDESA are the Argentine Central Bank and the financial institutions, in the proportion determined for each one by the Argentine Central Bank based on the contributions made to the fund. The monthly contribution institutions must make to the Fund is 0.015%, on the monthly average of all deposits. As from January 20, 2018, the reference rate cap for time deposits and term investments covered by the deposit insurance was increased, thus excluding those deposits which interest rate limits have been impaired by additional incentives or payments. NOTE 7 - TRUST AND GUARANTEE AGENT ACTIVITIES a) Trust contracts for purposes of guaranteeing compliance with obligations Purpose: In order to guarantee compliance with contractual obligations the parties to these agreements have agreed to deliver to the Bank, as fiduciary property, certain amounts to be applied, according to the following breakdown: CONTRACT DATE TRUSTOR TRUST BALANCE MATURITY DATE $ US$ 12/07/2010 FONDO FIDUCIARIO ACEITERO /30/2018 (1) 04/17/2012 EXXON MOBIL 4,325 04/19/2019 (1) 04/29/2013 PROFERTIL ,500 04/30/2018 (1) 10/21/2013 SINTEPLAST 12 06/30/2018 (1) 12/20/2013 LOS CIPRESES 8 06/30/2018 (1) 09/12/2014 COOP. DE TRAB. PORTUARIOS 1,026 09/12/2018 (1) 09/30/2015 LAS BLONDAS IV y V /28/2018 (1) 04/14/2016 RIOS BELT 21,256 04/14/2019 (1) 06/28/2017 DIST GAS DEL CENTRO 36,645 06/28/2018 (1) 07/19/2017 DIST GAS CUYANA 98,261 07/19/2018 (1) 08/08/2017 DIST GAS DEL CENTRO 63,432 08/08/2018 (1) TOTAL 225, ,500 (1) These amounts will be released monthly until the earlier of the settlement date of trustor obligations or the due date, whichever occurs first. b) Financial Trust Contracts Purpose: to administer and exercise the fiduciary ownership of the trust assets until the redemption of the debt securities and the participation certificates:

55 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 55 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) CONTRACT DATE TRUSTOR TRUST BALANCE MATURITY DATE $ 12/06/2006 GAS I 50,966 12/31/2018 (2) 05/06/2008 AGRO NITRALCO II 31 12/31/2018 (2) 05/14/2009 GAS II 4,795,919 12/31/2022 (2) 02/10/2011 CAG SA /31/2018 (2) 06/08/2011 MILA III /31/2018 (2) 09/01/2011 MILA IV 1,089 12/31/2018 (2) 09/14/2011 CAG SA II /31/2018 (2) 12/27/2012 PLA I 60 12/31/2018 (2) 09/18/2013 DONMARIO SEMILLAS SERIES I /31/2018 (2) 11/21/2013 COMAFI PRENDAS I 73 09/29/2018 (2) 02/13/2014 MILA V 1,867 05/20/2020 (2) 06/06/2014 MILA VI 1,478 10/20/2020 (2) 06/18/2014 RED SURCOS II 1,345 12/31/2018 (2) 07/08/2014 DONMARIO SEMILLAS SERIES II /31/2018 (2) 07/24/2014 FIDEICRED ATANOR III 74 12/31/2018 (2) 07/22/2014 DONMARIO SEMILLAS SERIES III /31/2018 (2) 07/25/2014 FIDEICRED AGRO SERIES II 3 12/31/2018 (2) 10/03/2014 MILA VII 2,278 01/20/2021 (2) 12/02/2014 MAS CUOTAS SERIES I /31/2018 (2) 01/13/2015 RED SURCOS III /31/2018 (2) 01/27/2015 MILA VIII 8,228 06/15/2021 (2) 05/18/2015 MILA IX 12,004 09/15/2021 (2) 12/02/2014 MAS CUOTAS SERIES II /31/2018 (2) 08/24/2015 MILA X 14,944 12/20/2021 (2) 10/30/2015 MILA XI 20,751 01/15/2022 (2) 12/09/2015 FIDEICRED AGRO SERIES III 2 12/31/2018 (2) 01/07/2016 MAS CUOTAS SERIES III /31/2018 (2) 01/14/2016 MILA XII 28,033 11/15/2021 (2) 02/05/2016 RED SURCOS IV 1,031 12/31/2018 (2) 05/13/2016 MILA XIII 42,506 09/15/2022 (2) 06/15/2016 MAS CUOTAS IV 74 11/15/2018 (2) 09/01/2016 MILA XIV 45,473 01/31/2023 (2) 09/15/2016 MAS CUOTAS V 1,067 12/31/2018 (2) 10/27/2016 MILA XV 58,963 03/31/2023 (2) 12/06/2016 MAS CUOTAS VI /15/2018 (2) 01/10/2017 MILA XVI 70,996 06/30/2023 (2) 02/24/2017 MILA XVII 108,682 09/30/2023 (2) 03/23/2017 MAS CUOTAS VII 2,399 01/15/2018 (2) 05/29/2017 FIDEICRED AGRO SERIES IV 215,725 09/30/2018 (2) 06/12/2017 MILA XVIII 111,086 01/31/2024 (2) 06/21/2017 MAS CUOTAS VIII 62,845 02/15/2018 (2) 08/16/2017 MAS CUOTAS IX 184,186 05/15/2018 (2) 10/20/2017 MAS CUOTAS X 528,382 10/15/2018 (2) 10/27/2017 MILA XIX 128,123 05/31/2024 (2) TOTAL 6,504,105 (2) Estimated date, because the actual maturity will occur at the time of the distribution of all of the trust assets. c) Guarantee agent activities c.1) The Bank has been appointed Guarantee Agent of the National Treasury endorsements in favor of ENARSA (Energía Argentina S.A.) and transferred in favor of Nación Fideicomisos S.A. in its capacity of Trustee of Financial Trusts ENARSA- BARRAGAN AND ENARSA-BRIGADIER LOPEZ. Said endorsements guarantee the payment of all liabilities of the abovementioned Trusts. The Bank, as Guarantee Agent, is the custodian of all documents corresponding to endorsement by the National Treasury and shall be in charge of all legal and notaries aspect as regards the execution thereof. As of December 31, 2017 and 2016, the balances for said transactions amount to US$ 1,364,097 and $ 408.

56 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 56 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) c.2) In April 2013, together with the subscription of the Fiduciary Assignment and Guarantee Trust Agreements Profertil S.A., the Bank has been appointed Guarantee Agent of the Fixed Registered Pledge Agreement, subscribed on June, 18, 2013, which guarantees all obligations assumed. As of December 31, 2017 and 2016, the balance for said transactions amounts to US$ 116,500. NOTE 8 - NEGOTIABLE OBLIGATIONS The Bank has a Global Program for the issuance of Negotiable Obligations in place: AUTHORIZED AMOUNT (*) US$ 1,100,000 TYPE OF NEGOTIABLE OBLIGATION Ordinary, nonconvertible into shares, subordinated or not, adjustable or not, secured or unsecured PROGRAM'S TERM 5 years DATE OF APPROVAL BY THE SHAREHOLDERS' MEETING , , , and CNV APPROVAL Resolution N dated and extended through Resolution No dated and Resolution No dated Amount increase approved by Resolution No dated and Resolution No dated and Resolution No dated (*) Or its equivalent in other currencies. The Ordinary and Extraordinary Shareholders' Meeting held on December 14, 2017 approved an increase in the program for the issuance of short, medium and long-term negotiable obligations for US$ 1,000,000, thus increasing it from US$ 1,100,000 to US$ 2,100,000 or an equivalent amount in other currencies. Within this global program, the Bank has the following negotiable obligations: ISSUE DATE CURRENCY RESIDUAL FACE VALUE (In thousands) as of TYPE TERM RATE BOOK VALUE (*) (IN THOUSANDS OF PESOS) ISSUE AUTHORIZED BY THE CNV US$ US$ 300,000 Ordinary 84 months (1) - 4,817, US$ US$ 250,000 Subordinated $ US$ 150,537(**) 120 months(2) (3) 4,828,018 4,065, Ordinary 36 months (4) 2,431, $ $2,000,000 Ordinary 36 months (5) 2,061, (*) includes principal and interest, net of expenses. (**) They were converted to $2,360,360 according to the issuance conditions. The exchange risk is assumed by the investor since interest and capital servicing are estimated based on the capital in pesos and converted into US dollar on the payment date. (1) On May 4, 2017 the Bank redeemed all its outstanding negotiable obligations due in 2018 at a price equal to 100% of the residual nominal value plus accrued, unpaid interest as to said date, excluding the date of redemption. (2) These obligations will be fully amortized at maturity, on July 19, 2026, unless they are previously redeemed, at the issuer s option, in full at a price equal to 100% of the outstanding capital plus accrued, unpaid interest. (3) Fixed annual rate of 8.25% as from the issuance date until July 19, 2021 and a margin to be added to the Benchmark readjustment nominal annual rate of 7.156% until the maturity date. Said interest shall be payable on a semi-annual basis on January 19 and July 19 as from (4) Variable rate equal to the simple mathematical average of the private Bladar rates plus 2.69%, which shall be paid on a quarterly basis on May 17, (5) Variable rate equal to the simple mathematical average of the private Bladar rates plus 2.98%, which shall be paid on a quarterly basis on Aug 18, 2017.

57 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 57 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) The net proceeds from the placement of these issuances were used as working capital, to grant loans and other financing, and to other purposes included in the Negotiable Obligations Law and the Argentine Central Bank regulations. As of December 31, 2017, the Bank holds Negotiable Obligations Galicia Class 3 for $4,648 while as of December 31, 2016 it held Negotiable Obligations 2018 for $95,639. NOTE 9 - DERIVATIVE FINANCIAL INSTRUMENTS FORWARD SALE-PURCHASE OF FOREIGN CURRENCIES WITHOUT DELIVERY OF THE UNDERLYING ASSET The Mercado Abierto Electrónico (MAE) and the Mercado a Término de Rosario (ROFEX) have trading environments for the closing, recording, and settlement of financial forward transactions carried out among its agents, the Bank being one of them. The general settlement mode for these transactions is without delivery of the traded underlying asset. Settlement is carried on a daily basis for the difference, if any, between the closing price of the underlying asset and the closing price or value of the underlying asset corresponding to the previous day, the difference in price being charged to income. As of December 31, 2017, forward purchase and sale transactions amounted to $20,417,503; and $19,913,230, while as of December 31, 2016 they amounted to $15,005,454 and $11,505,990 respectively. In addition, transactions were carried out directly with customers under the terms and conditions stated above settling differences upon extinction of the agreement. As of December 31, 2017, forward purchase and sale transactions amounted to $395,014 and $3,706,769, respectively while as of December 31, 2016 they amounted to $ 215,072 and $1,195,463, respectively. Such transactions are recorded under Memorandum Accounts for the notional value traded. Balances pending settlement accrued are recorded under Balances from forward transactions without delivery of underlying asset to be settled included in Other receivables resulting from financial brokerage and/or Other Liabilities Resulting from Financial Brokerage, as the case may be. INTEREST RATE SWAPS These transactions, traded within the framework of the MAE, are settled on a daily or monthly basis for the variation in Pesos between the cash flow calculated at a variable rate (private banks Badlar rate, for a period of 30 to 35 days) and the cash flow calculated at fixed rate on the notional value agreed upon, thus recording an income or loss for said difference. As of December 31, 2017 and 2016, transactions amounted to $ 1,000 and $ 75,000 respectively. Such transactions are recorded under Memorandum Accounts for the notional value traded. Balances pending settlement accrued are recorded under Balances from interest rate swaps pending settlement included in Other receivables resulting from financial brokerage and/or Other Liabilities Resulting from Financial Brokerage, as appropriate. PUT OPTIONS BOUGHT AND WRITTEN ON GOLD FUTURES WITHOUT DELIVERY OF THE UNDERLYING ASSET At the end of the previous fiscal year, these transactions have been carried out in order to obtain coverage of the variable rate of the placements foreseen by the Argentine Central Bank received by the Bank. The date of placement, option term and underlying asses coincide with that of the related placement. Notional amounts have been estimated in such a way the compensated amount of derivatives is similar to the investment variable rate. Variations to the underlying asset's value, between the time of agreement and fiscal year end, equal to the variable rate, have been recognized in profit/ (losses) and are recorded under Other receivables resulting from financial brokerage and/or under Other Liabilities Resulting from Financial Brokerage as appropriate. Premiums collected and/or paid have been accrued on a straight line basis during contract's effective period. As of December 31, 2016, gold put options bought and written amounted to $ 149,512 and $ 164,463 respectively. Said transactions are recorded under Memorandum Accounts - Debit-Derivatives - Notional Value of Call Options Bought and under Memorandum Accounts - Credit-Derivatives - Notional Value of Call Options Written. PUT OPTIONS WRITTEN ON US DOLLAR FUTURES WITHOUT DELIVERY OF THE UNDERLYING ASSET. At the end of the previous fiscal year, these transactions have been made at the Mercado a Término de Rosario (ROFEX). Premiums collected have been accrued on a straight line basis during contract's effective period. As of December 2016, put options written on US-dollar futures amount to $ 10,200, which have been recorded under Memorandum Accounts - Credit- Derivatives - Notional Value of Call Options Written. The Bank's management of financial risks is carried within the limits set by the policies approved by the Board of Directors in such respect. In that sense, derivatives financial instruments issued by the Bank are tools the Bank uses in order limit certain risk exposures and/or as a financial product to develop the Bank's investment and trading strategies. In both cases, the use of these tools takes into account the internal policy framework set forth by the Bank. NOTE 10 - NATIONAL SECURITIES COMMISSION - Agents Minimum liquid matching entry required: Within the framework of Resolution No. 622/13 by the National Securities Commission, the Bank has been registered under the Comprehensive Liquidation, Compensation Agent No. 22 (ALyC and AN - Integral), Custody Agent of Collective investment products of Mutual Funds No. 3 (ACPIC FCI) and Mass Investment Product Administration Agent No. 54 categories. As of December 31, 2017, the Bank's equity exceeds the requirement of the CNV to operate within the Agent category for which the Bank has already been registered. Said requirement amounts to $28,000, being the required liquid matching entry $14,000, which the Bank paid-in with Peso-denominated Argentine Central Bank's currency regulation securities, recorded under custody in Caja de Valores (Principal ) for $17,090.

58 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 58 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) - Custody Agent of Collective investment products of Mutual Funds: Furthermore, in compliance with Section 7 of Chapter II, Title V of the abovementioned Resolution, as Custody Agent of Collective investment products of Mutual Funds (depository) of mutual funds: "FIMA ACCIONES", "FIMA P.B. ACCIONES", "FIMA RENTA EN PESOS", "FIMA AHORRO PESOS", "FIMA RENTA PLUS", FIMA PREMIUM, FIMA AHORRO PLUS, FIMA CAPITAL PLUS, FIMA ABIERTO PYMES, FIMA MIX I, FIMA RENTA DOLARES I y FIMA RENTA DOLARES II, as of December 31, 2017 holds a total of 10,254,289,765 units under custody for a market value of $67,972,574 which is included in the "Depositors of Securities Held in Custody" account. As of the previous fiscal year end, the securities held in custody by the Bank totaled 7,777,368,861 units and their market value amounted to $ 37,337,855. What follows is a breakdown of mutual fund assets as of fiscal year-end: MUTUAL FUND ASSETS AS OF FIMA ACCIONES 412, ,805 FIMA P.B. ACCIONES 1,143, ,310 FIMA RENTA EN PESOS 525, ,066 FIMA AHORRO PESOS 20,823,171 15,955,347 FIMA RENTA PLUS 369, ,293 FIMA PREMIUM 10,098,362 7,130,327 FIMA AHORRO PLUS 17,238,677 10,194,730 FIMA CAPITAL PLUS 379, ,800 FIMA ABIERTO PYMES 264, ,124 FIMA MIX I 164, ,487 FIMA RENTA DOLARES I 12,384,341 2,245,266 FIMA RENTA DOLARES II 4,167,847 2,300 TOTAL 67,972,574 37,337,855 -Document custody: Pursuant to General Resolution No. 629 issued by the C.N.V., the Bank reports it holds supporting documentation of accounting and management operations in custody in AdeA (Taxpayer ID No. (CUIT): ) Planta III located at Ruta Provincial 36 km no (CP 1888) Bosques, province of Buenos Aires, being it legal domicile Av. Pte. Roque Sáenz Peña 832-Piso 1, C.A.B.A.. NOTE 11- BREAKDOWN OF "OTHER" ITEMS -BALANCE SHEET MISCELLANEOUS RECEIVABLES 2,385,673 1,845,729 Sundry debtors 319, ,855 Guarantee deposits 1,583,469 1,386,389 Payments in advance 121, ,337 Tax prepayments 19, ,449 Personnel loans 329,806 - Other 11,709 15,699 -LIABILITIES -OTHER LIABILITIES RESULTING FROM FINANCIAL BROKERAGE - OTHER 18,646,572 15,244,218 Collections on behalf of third parties and other liabilities 3,147,688 3,180,952 Liabilities for financing of purchases 10,514,422 6,825,362 Other withholdings and collections 1,541,491 1,460,851 Our accounts in correspondent Banks 416,106 1,118,549 Liabilities subject to Minimum Cash Requirements 282, ,335 Sundry not subject to Minimum Cash Requirements 2,110,642 2,019,252 Accrued commissions payable 243, ,184 Other 389, ,733 -MISCELLANEOUS LIABILITIES 5,298,170 3,150,205 Sundry creditors 1,725, ,708 Taxes payable 2,558,501 1,565,855 Salaries and social security contributions payable 714, ,943

59 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 59 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) Other 299, ,699 -MEMORANDUM ACCOUNTS - DEBIT -CONTROL - OTHER 425,167, ,087,180 Securities held in custody 371,286, ,987,243 Bills for collection 23,037,677 18,309,418 Guarantee agent activities 27,797,432 23,468,166 Other 3,045,410 4,322, INCOME STATEMENT -INCOME FROM SERVICES 7,416,699 6,168,842 Fees earned on credit cards 4,502,364 3,960,459 Fees earned on life insurance policies 451, ,554 Other 2,462,547 1,721,829 -EXPENSES FOR SERVICES 3,396,598 2,240,577 Turnover taxes 659, ,463 Linked to credit cards 1,672,849 1,054,512 Other 1,064, ,602 -MISCELLANEOUS INCOME 386, ,191 Income from bank premises and equipment sold 22, ,557 Adjustment and interest on miscellaneous 273, ,961 receivables Other 89,845 59,673 -MISCELLANEOUS LOSSES 600, ,398 Claims 123,983 78,166 Donations 58,271 42,072 Turnover tax 98,913 29,613 Other 319,437 81,547 NOTE 12 - PUBLICATION OF THE FINANCIAL STATEMENTS Pursuant to the provisions of the Argentine Central Bank, no prior approval from said entity is required in order to publish these Financial Statements. NOTE 13 - CAPITAL STOCK, CAPITAL DECREASE AND CAPITAL CONTRIBUTION IN KIND (Schedule K) The Bank Ordinary and Extraordinary Shareholders' Meeting held on December 14, 2017 approved the spin off-merger process of controlled company Tarjetas Regionales S.A. and the corresponding capital stock reduction for an amount of $127,425 effective from January 1, 2018 (see Note 26) and also established a capital increase for $233,647. Therefore, it approved the amendment of Section 4 of the Corporate bylaws, which is yet to be registered before the relevant agencies, and which establishes that the social stock is $668,549, equal to 101 ordinary shares for a face value of $ 1 each, and 5 votes per share and 668,549,252 ordinary shares for a nominal value of $ 1 each and 1 vote per share, as follows: a) Capital stock increase for an amount of $233,647, equal to 233,647,323 ordinary, book-entry shares for a face value of $ 1 each and 1 vote per share, thus establishing the issuance premium for a total of $9,766,353. Grupo Financiero Galicia S.A. in its capacity as sole shareholder and holder of 100% of the Bank, on December 27, 2017 paid in the capital contribution through LEBAC for a FV of 10,168,285,119, kind I17E8, which were valued at market value, taking into consideration its quotation of $ on December 26, 2017 at the M.A.E, totaling an amount of $10,000,000. Said share subscription is pending issuance and the corresponding legal procedures have been initiated before the relevant agencies. The Argentine Central Bank, through resolution No. 35 dated January 11, 2018 authorized the abovementioned capital contribution. b) A social stock decrease for $127,425 equal to 127,424,621 ordinary, book entry shares for a face value of $ each and 1 vote per share, resulting from the spin-off of controlled company Tarjetas Regionales S.A., shall be effective, for accounting, legal and tax purposes, as from January 1, 2018 according to Note 26. As of December 31, 2017, the Bank social stock, taking into account the provisions of item b), is made up as follows: Capital stock at beginning of the fiscal year $562,327 Capital increase according to a) $233,647 Capital stock as of December 31, 2017 $795,974 Capital stock decrease effective as from January 1, 2018 according to b) $(127,425)

60 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 60 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) Total capital stock $668,549 As of the end of the last three fiscal years, it amounted to $562,327. NOTE 14 - EQUITY INVESTMENTS (Schedule E) Percentage of participation in the capital stock of other companies: 1) Galicia Valores S.A. (1) 99.00% 12) Compensadora Electrónica S.A % 2) Compañía Financiera Argentina S.A. (2) 97.00% 13) Empresa de Transporte de Energía Eléctrica 3) Cobranzas y Servicios S.A. (3) 95.00% por Distribución Troncal de Cuyo S.A. 4) Tarjetas Regionales S.A. (4) 77.00% (Distrocuyo S.A.) 6.125% 5) Prisma Medios de Pago S.A % 14) Argencontrol S.A % 6) Galicia Warrants S.A % 15) Procesadora Regional S.A. 5.00% 7) Electrigal S.A % 16) Garbin S.A % 8) Net Investment S.A.(In liquidation) (5) 12.50% 17) Mercado Abierto Electrónico S.A % 9) Sudamericana Holding S.A % 18) Banelsip S.A. 1.25% 10) Seguro de Depósitos S.A % 19) Banco Latinoamericano de Exportaciones S.A % 11) Interbanking S.A % 20) S.W.I.F.T. S.C % 21) Garantizar S.G.R % (1) See note 2 Consolidation Basis for the Consolidated Financial Statements (2), (3) and (5) See note a) Equity investments. (4) see note 26 Spin off-merger process of Tarjetas Regionales S.A. and its integration into Grupo Financiero Galicia S.A. NOTE 15 - INCOME PER SHARE The Bank estimates the net income per share based on a weighted average of subscribed ordinary shares. As of December 31, 2017 and 2016, income per share was as follows: Figures stated in thousands of pesos Net income / (loss) for the fiscal year Income 6,914,843 5,093,705 Weighted average of subscribed shares 573, ,327 Earnings per share 12,050 9,058 NOTE 16 - BREAKDOWN OF "TOTAL CREDIT" Total Credit encompasses those items for which debtors must be classified according to their quality, which are recorded under the following captions: LOANS 162,410, ,530,765 -OTHER RECEIVABLES RESULTING FROM FINANCIAL BROKERAGE 3,701,895 3,987,247 -RECEIVABLES FROM FINANCIAL LEASES 1,894,833 1,189,900 -MISCELLANEOUS RECEIVABLES 123, ,276 -CONTINGENT LIABILITIES 15,926,651 12,031,981 TOTAL 184,058, ,867,169 NOTE 17 - SETTING UP OF FINANCIAL TRUSTS a) Financial trusts in which the Bank acts as trustee outstanding at fiscal year-end: NAME CREATION DATE ESTIMATED MATURITY DATE GALTRUST I (*) The remaining US$ 9,776 was transferred in cash. (1) In exchange for loans to provincial governments. TRUSTEE TRUST ASSETS TRANSFERRED PORTFOLIO FIRST TRUST OF NEW YORK N.A. SECURED BONDS IN PESOS 2% DUE IN 2018 (1) US$ 490,224 (*) BOOK VALUE OF SECURITIES HELD (IN THOUSANDS OF PESOS) , ,874

61 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 61 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) b) Also, as of December 31, 2017 and 2016 the Bank records in its own portfolio participation certificates and debt securities issued by financial trusts for $2,284,609 and $998,152, respectively. NOTA 18 - MINIMUM CASH AND MINIMUM CAPITAL REQUIREMENTS - Accounts that identify the compliance of the minimum cash requirement As of December 31, 2017, the balances recorded under the computable items are the following: ITEM Pesos US Dollars(*) Euros (*) Current accounts with the Argentine Central Bank 17,000,000 1,588,996(1) 16(3) Special Escrow Accounts with the Argentine Central Bank 3,474,689 7,200(2) Total computable items for compliance with Minimum Cash Requirements 20,474,689 1,596, (1) Equal to $ 29,832,129.- (2) Equal to $135,174.- (3) Equal to $300.- (*) Stated in USD - Minimum Capital Requirement The following is a breakdown of the minimum capitals on an individual basis: Capital required 18,195,018 12,090,722 Computable Capital 22,804,032(1) 17,762,034 Excess over Required Capital 4,609,014 5,671,312 (1) On January 11, 2018, the Argentine Central Bank approved the capital stock subscription for $10,000,000 according to the provisions of Note 13. Therefore, the calculation for regulatory purposes shall be as from the date of approval. The Argentine Central Bank decided that the Bank shall be deemed a Domestic Systemically Important Bank (D-SIBs) for all purposes. Therefore, as from January 2016 it imposes an additional capital preservation margin in addition to the minimum capital requirement equal to 3.5% of risk-weighted assets. In addition, it also decided that as from June 2015 equity investments in debit and credit card issuing companies are deducted from the Computable regulatory capital reaching 100% by June NOTE 19 RISK MANAGEMENT POLICIES The specific tasks related to the overall management of the risks the Bank faces has been allocated to the Risk Management Division, thus ensuring its independence from the remaining business units by reporting directly to the Bank's General Management while being involved in each unit's decisions. In addition, the control and prevention of money laundering, funding of terrorist activities and other illegal activities are under the scope of the Prevention of Money Laundering Unit which reports directly to the Board of Directors. Both areas' mission is to assure that the Board of Directors has full knowledge of the risks to which the Bank is exposed and to design and propose the policies and procedures necessary to identify, assess, follow up, control and mitigate such risks. The Bank has developed a Capital Availability Assessment Process (included in the Capital Self-Assessment Report) in order to assess the relationship between its own resources available and the resources necessary to keep a suitable risk profile. This process shall also allow the Bank to identify its needs of economic capital as well as the sources to satisfy said needs. The estimation of the minimum capital requirement for each risk is carried out pursuant to the Argentine Central Bank's provisions. Also, the Bank has developed a risk appetite framework with levels for different risks acceptance, and within said framework the Bank defined metrics calculated based on current and stresses ratios which are monitored in order to detect situations that may affect the normal course of business, default on the strategy and cause unwanted results and/or vulnerability situations before changes in market conditions. The Risk and Capital Allocation Committee considers and controls de Bank risk profile through a Risk Appetite report and defines the action to be taken in case of departures from defined thresholds. Financial Risks The Bank's management of financial risk, short as well as medium-term, is carried within the framework of the policies approved by the Board of Directors, which sets the limitations to the different risk exposures and also oversees the relationships among said risks. Management tasks are supplemented by contingency plans designed to face adverse market situations. In addition, stress testing is conducted, which allows the Bank to assess risk exposure, in historic and simulated scenarios, which capture critical levels of the different risk factors.

62 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 62 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) Liquidity The daily liquidity management is carried out within a defined strategy that aims at maintaining liquid resources sufficient to mitigate the negative effects that generate uneven variations in loans and deposits, and coping with stressful situations. The liquidity policy in force foresees setting limits and monitoring in terms of a) stock s liquidity, a Management Liquidity Requirement level was set forth as the excess over the minimum cash requirements, taking into account the characteristics and behavior of the Bank's liabilities and the liquid assets that make up said liquidity were also defined and b) flows liquidity, the gaps between maturing consolidated financial assets and liabilities at contractual due dates are prepared and monitored on a monthly basis. There is a maximum limit for maturity mismatches, set in terms of the accumulated gap against total liabilities which is permanently enforced within the first year. There is also a contingency plan, by type of currency, which sets forth the measures to be taken and the assets from which to obtain liquid resources additional to those contemplated by the policy described. In order to mitigate the liquidity risk stemming from the deposit concentration by customer, the Bank has a policy in place that regulates deposit concentration in the largest customers. Currency Risk The policy currently in force sets forth technical limitations on maximum positions bought (assets denominated in a foreign currency exceeding liabilities denominated in that same currency) and sold (assets denominated in a foreign currency that are lower than the liabilities in that same currency) for mismatches foreign currencies, as a ratio of the RPC of the Bank. This risk management strategy is characterized by a suitable balance between foreign currency-denominated assets and liabilities, seeking to attain long-term full coverage of asset and liabilities' mismatches and allowing for a short-term management margin on said mismatches that contributes to optimizing certain market situations. Short and long-term goals are attained through appropriately managing assets and liabilities and using the financial products available in our market, specially "futures in US Dollar, in institutionalized markets (MAE and ROFEX) as well as in forward transactions carried out with customers. The Bank's currency futures transactions (futures in US Dollar) is subject to the limitations that take into account the characteristics of each negotiation environment. Interest-Rate Risk The Bank's exposure to the interest-rate risk, as a result of interest rate fluctuations and the different sensibility to Assets and Liabilities is managed within the approved strategy. On one hand, it is based on a short-term perspective, seeking to preserve the net financial margin within the levels set forth by the policy. On the other hand, a long-term perspective, aiming at minimizing the negative impact on the Bank's Shareholders' Equity current value before the changes in interest rates. From an all-encompassing perspective of all risk exposures and contributing to the addition of a "risk premium" to the pricing process, one of the Bank's goals is to systematically estimate the "economic capital" consumed by the balancesheet structural risk (interest rate risk), as well as the contribution to capital consumption by the "price risk" in its different forms. Market Risk All brokerage transactions and/or investments in government and privates securities, currencies, derivatives and debt securities issued by the Argentine Central Bank listed in the Capital Markets and which value varies in accordance with the fluctuation of the market prices thereof, are included in the Policy that limits the tolerable losses during a year. The daily management of the price risk (market) is carried out within the approved strategy, which aims at keeping the Bank's presence in the different markets, fixed-income, variable and derivatives markets, obtaining the highest possible return on the brokerage without exposing the Bank to excessive risk levels. Finally, the policy contributes to provide transparency and facilitates the perception of the risk levels the Bank is exposed to. In order to measure and control the risk derived from the price variations of the financial instruments that make up the brokerage or trading portfolio, a model known as "Value at Risk" (or "VaR") is used which measures individually the potential loss generated by the positions in securities, derivatives, and foreign-currencies under certain parameters. Cross-border Risk Foreign trade transactions as well as the management of the Bank's "treasury" resources imply assuming risk position in international jurisdictions (cross border risk / cross-border loans). These exposures to assets located in foreign jurisdictions are within the framework of the Bank's commercial and financial strategy, which aims at achieving an efficient customer service and optimizing the management of available liquid resources within a suitable risk-profitability environment. Transfer Risk The chance of diversifying sources of funding, which includes the liquidity strategy by gaining foreign capital market resources, involves the potential exposure to regulatory changes that may hinder or increase the cost of transferring currencies abroad in order to fulfill the liabilities assumed. The policy that manages the Risk of Currency Transfers Abroad contributes to the liquidity strategy and aims at reaching a suitable balance between assets with local and foreign counterparts within a return-risk ratio that matches the Bank's business and growth needs. Exposure to the Non-Financial Public Sector

63 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 63 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) In order to regulate the exposure to the Non-Financial Public Sector, the Bank defined a policy which design contemplates risks exposure at national, provincial and municipal level and established limits to total and direct assistance for each jurisdiction. Credit Risk The Bank uses credit assessment and risk monitoring tools which allow for a streamlined, controlled management and promote a suitable portfolio diversification, individual as well as by economic sector; thus controlling its potential risk exposure. Strategically, the Bank has decided to acquire a deeper knowledge of its clients, by means of a specific policy that allows to advise them based on their funding needs and their assessed attributes, purposes and outlooks. The Bank s credit approval and credit risk analysis is a centralized process based on the concept of opposition of interests for which there are specific risk management, credit and commercial functions for the different business areas. This enables the Bank to achieve an ongoing and efficient control of asset quality, a preemptive management of problem loans, aggressive write offs of uncollectible loans, and a conservative loan loss provisioning policy. Operational and technological risk Pursuant to the best practices and the guidelines issued by the Argentine Central Bank, the Bank has a Management Framework which includes the policies, practices, procedures and structures in place for a suitable risk Management. The Operational Risk is the risk of loss resulting from the lack of adjustment or failures within internal procedures, in staff procedures or in systems procedures or those resulting from external events. Includes the legal risk and excludes the strategic and reputational risks. The Bank manages the operational and information technology (IT) risk inherent to its products, activities and business processes. In turn, it manages the risks related to information the relevant information systems, technology processes and technological and data safety processes. IT risk is the risk associated with the use, ownership, operation, involvement, influence and/or implementation of IT solutions by the Bank. To do so, business, IT and information security processes are reviewed. Finally, the Bank manages the risks derived from outsourced business activities and services rendered by suppliers. Besides, before launching or introducing new products, activities, processes or systems all related risks are duly assessed. Thus, the Bank has the necessary structure and resources to establish the operational and technological risk profile and to adopt the corresponding corrective measures, in order to comply with the provisions set forth by the Argentine Central Bank on operational and technological risk management in financial entities and operational risk databases. A suitable operational and technological risk management also contributes to improving the quality of service provided to our customers. In compliance with the provisions of Communiqué A 5398 the securitization, concentration, reputational and strategic risks were identified as relevant and a methodology for the calculation and measurement thereof was developed. These risks were included in the Capital Self-Assessment Report within the framework of Communiqué "A" Securitization Risk Securitization is an alternative source of funding and a mechanism for the transfer of risks to investors. However, securitization activities and the fast innovation regarding the techniques and securities used also bring about new risks including: i) Credit, market, liquidity, concentration, legal and reputational risks for securitization positions held or invested, including, among others, liquidity support and credit improvements granted; and ii) The credit risk related to the underlying asset of the securitization. Concentration Risk Concentration is the exposure or groups of exposures with similar characteristics, such as corresponding to the same debtor, business, product or economic sector, that may cause: i) Losses significant enough, regarding the results, regulatory capital, assets of the global risk level, to affect the financial entity's soundness or its ability to carry out its main operations; ii) A significant change in the Bank's risk profile. Reputational Risk The reputational risk is the risk related to a negative image of the financial institution as perceived by the customers, counterparts, shareholders, investors, debt holders, market analysts and other relevant market players that negatively affects the financial entity's ability to maintain its existing business relations or to establish new ones and to continue to have access to sources of funding such as the interbank or securitization markets. Strategic Risk The strategic risk is the risk stemming from an unsuitable business strategy or an adverse change in provisions, parameters, objectives and other functions supporting such strategy. Despite the complexity of its estimation, financial entities must develop new management techniques including all related aspects. Money Laundering risk

64 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 64 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) As regards money laundering control and prevention, the Bank complies with the regulations set forth by the Argentine Central Bank, the Financial Information Unit and Law No. 25,246 as amended, which creates the Financial Information Unit within the scope of the Ministry of Economy and Public Finance. Said entity is in charge of analyzing, dealing with and transmitting the information received, in order to prevent asset laundering as well as terrorism funding. To do so, the Bank has control policies, procedures and structures that are enforced within a risk based approach, which allow monitoring transactions, pursuant to the "customer profile" defined on an individual basis based on information and documentation related to the customer's economic and financial condition in order to detect those transactions that must be deemed unusual and to eventually report them to the UIF, when appropriate. The framework for managing this activity is the Anti Money-Laundering Unit ( PLA ), which is in charge of implementing the control and prevention procedures, as well as its communication to the rest of the organization, through the preparation of the appropriate manuals and training of all employees. Also, this particular risk management is reviewed by internal audit. The Bank has appointed a Director as Compliance Officer pursuant to Resolution 121/11 as amended by the UIF who is responsible for ensuring the compliance and implementation of the procedures and obligations on the subject. The Bank contributes to the prevention and mitigation of the risks entailed in this criminal behavior by getting involved in the process of adoption of international regulatory standards. In compliance with Communiqué A 5394, as amended, issued by the Argentine Central Bank, on a quarterly basis, the Bank posts on its website, ( a document called Market Regulations which contains information regarding the regulatory capital structure and sufficiency, exposure to different risks and management thereof. NOTE 20 CORPORATE GOVERNANCE TRANSPARENCY POLICY The Board of Directors is the Bank's highest corporate body. As of the date of these financial statements, it is made up of seven directors and three alternate directors who have the necessary knowledge and skills to clearly understand their responsibilities and duties within corporate governance and to act with the loyalty and diligence of good businessmen. The Bank complies with suitable standards as regards the total number of directors as well as the number of independent directors. Besides, its by-laws are flexible enough to adapt the number of directors, between three and nine directors, to the potential changes in the conditions the Bank performs under, between three and nine directors. The determination of the number and appointment of Directors, independent as well as non-independent, is the responsibility of the Ordinary Shareholders Meeting. Out of the seven Directors, two are independent. Also, one of the alternate Directors is independent. The concept of independence is set forth in the C.N.V. and Argentine Central Bank's regulations. As regards the prevention of conflicts of interest, the provisions of the General Corporations Law and the Capital Markets Law shall apply. Pursuant to the by-laws, the Directors as well as Alternate Directors hold office for three years, are renewed in thirds (or fraction no lower than three) each year and may be indefinitely reelected. The Board of Directors meets at least once a week and any time one of the Directors so requires and is responsible for the Bank's general management adopting all necessary decisions to that end. Also, the members of the Board of Directors are, to a greater or lesser extent, also members of the Commissions and Committees created and are therefore constantly updated on the Bank's operations and are informed of the decisions made by said bodies, which is duly recorded in the minutes. In addition, the Board of Directors receives the monthly report prepared by the General Manager, which aims at communicating relevant issues and events dealt with in the different meetings between the Board and Senior Management. The Board of Directors is informed of said reports, which is recorded in the minutes. As regards Directors' training and development, the Bank has a program in place which is reviewed every six months under which they regularly attend courses and seminars of different nature and on different topics. The Bank's executives, including Directors, have up-to-date knowledge and skills and that the Board of Directors works in the most efficient manner to match its current dynamics. According to the activities carried out by the Bank, the legislation in force and corporate strategies, the following committees have been created in order to achieve an effective control of all the activities carried out in the Bank: - Risk and Capital Allocation Committee. It is in charge of the approval and analysis of capital allocations, the implementation of risk policies and risk oversight for the Bank. - High-amount loans committee. Its function is to approve and subscribe the ratings and granting of customer transactions and high-risk groups, i.e., above 2.5% of the Bank individual RPC, loans to financial institutions (local or foreign) and related customers, in which case the approval of 2/3 of the Board of Directors is required. - Low-amount loans committee. Its function is to approve and subscribe the ratings and granting of customer transactions and medium-risk groups, equal to 1% of the Bank individual RPC. - Assets and Liabilities Management Committee

65 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 65 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) It is in charge of analyzing fund raising and asset placement, following up and controlling liquidity, interest rate and currency mismatches as well as managing said mismatches. - Information Technology Committee This Committee is in charge of supervising and approving new systems development plans and budgets, as well as supervising these systems budget control. It is also responsible for approving the general design of the systems structure, of the main processes thereof and of the systems implemented as well as supervising the quality of the Bank s systems within the scope of the policies set forth by the Board of Directors. - Audit Committee. It is in charge of assisting the Board of Directors in its controlling function of the Bank and controlled and affiliated companies in order to reasonably ensure the following goals: Operation effectiveness and efficiency; Reliability of accounting information; Compliance of applicable laws and regulations; and Compliance of the goals and strategy set forth by the Board of Directors. - Committee for the Control and Prevention of Money Laundering and Funding of Terrorist Activities It is the corporate body responsible for planning, coordinating, and promoting compliance with the policies established and approved by the Board of Directors on the subject. - Committee for Information Integrity This Committee is in charge of promoting compliance of the provisions of the US Sarbanes-Oxley Act of the United States of America issued in Human Resources and Governance Committee. It is in charge of presenting the successors of the General Manager and Area Managers and setting the compensation of the General Manager and Area Managers, monitoring the performance matrix for Departmental and Area Managers. - Results Reporting Committee. It is in charge of monitoring and managing results and assessing the macro situation. - Liquidity Crisis Committee. It is in charge of assessing the scenario in case of a liquidity crisis and deciding on the corrective measures to be implemented. - Strategy and New Business Committee It is in charge of the analysis of new business. The Bank defines the General Manager and the Division Management reporting to the General Manager as Senior Management. They are detailed as follows: Retail Banking Division Wholesale Banking Division Financial Division Comprehensive Corporate Services Division Organizational Development and Human Resources Division Risk Management Division Planning Division Customer Experience Division The Senior Management's main duties are: - Ensuring the Bank's activities are consistent with the business strategy, the policies approved by the Board of Directors and the risks to be assumed. - Implementing the policies, procedures and controls necessary to sensibly manage operations and risks, meeting the strategic goals set by the Board of Directors and ensuring it receives relevant, complete and timely information that allows it to assess the administration and analyze if the duties assigned are effectively fulfilled. - Monitoring the different division managers consistently with the policies and procedures set forth by the Board of Directors and establishing an effective internal control system. Basic proprietary structure The Bank is controlled by Grupo Financiero Galicia S.A., which has full control over its shares and votes. In turn, the Bank has controlling interests in supplementary companies, as well as minority interests in companies controlled by their own controlling company. From the corporate standpoint, this structure allows the Bank to leverage relevant synergies that guarantee customer fidelity and additional business. All business relations with said companies, whether permanent or occasional, are carried out under normal, usual market conditions whether the Bank holds a

66 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 66 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) majority or minority interest. The Board of Directors of Grupo Financiero Galicia S.A. subjects to the vote of the Shareholders' Meeting the sense of the vote to be granted, as controlling company, in the Bank's Shareholders' Meeting. That transparency and information system regarding the controlling and affiliated companies is applied in the Bank's Shareholders' Meetings which are attended by said companies' directors and officials, and where the Board of Directors provide detailed information on the Company's activities. Business Conduct Policy and/or Code of Ethics The Bank has a Code of Ethics formally approved that governs its policies and activities; it includes issues related to the objectivity of business and conflicts of interests and how the contributor must act before a breach of the Code of Ethics, giving notice to the Conduct Committee. Information on personnel economic incentive practices The Human Resources and Governance Committee, made up of two Directors, the General Manager and the Organizational Development and Human Resources Manager, is in charge of setting forth the compensation policy for Banco Galicia personnel. It is a policy of Banco Galicia to manage overall compensations to its personnel based on the principles of equity, merit and justice within the framework of the regulations in force. Based on said policy, the Bank seeks to promote on an objective, fair basis, through the design and implementation of personnel's fixed and variable compensation management tools based on the magnitude, scope and complexity of the responsibilities inherent to each position, individual performance, contribution to results and matching to market values, in order to: a) -Attract and retain personnel with the necessary qualifications to attain the Bank's business strategy and goals. b) -Become a means of individual motivation. c) -Make decentralized management of compensations simpler. d) -Allow the efficient budgetary control of personnel expenses. e) -Ensure internal equity. In order to monitor and ensure external and internal equity in the payment of fixed and variable compensations, the Compensations division uses and makes available to high management and the Human Resources Committee market surveys issued by specialized consulting companies pursuant to the market positioning policies set forth by management for the different corporate levels. In order to guide people to obtain reachable goals that contribute to the Bank/Area global performance and to increase motivation for the collective attainment of goals, differentiating individual contributions, Banco Galicia has implemented different variable compensation systems: 1) Commercial incentives and or Commissions System for commercial divisions. 2) Annual Bonus System for managers, department heads and the remaining workers not included in the commercial incentives system. The Annual Bonus is estimated based on individual performance and the Bank's general results and is paid during the first quarter of the following fiscal year. In order to estimate high and middle management variable compensation, the Management Assessment System is used. It has been designed by including qualitative and quantitative KPI (Key Performance Indicators). In particular, quantitative KPIs are built based on at least three aspects: a) Results. b) Business volume or size. c) Projection: these are indicators that protect future business (E.g.: quality, internal and external customer satisfaction, risk coverage, work environment, etc.). Each indicator's level of impact is measured and adjusted on an annual basis according to the strategy approved by the Board of Directors. The interaction of these aspects seeks to provide consistency to between incentives based on results and growth and risk thresholds as defined by the Board of Directors. On the other hand, there is no differed payment of variable compensations based on future long term occurrences, taking into account that the business environment in the Argentine financial market is basically transactional with active and passive transactions with very brief terms to maturity. The annual budget and management control which are carried out on a monthly basis in general and on a quarterly basis in more detail, contain certain risk indicators and include the relation between compensations and risks assumed. The only instrument used to pay variable compensations is cash. There are not shares-based instruments. All policy changes are submitted to the Human Resources and Governance Committee for its consideration. NOTE 21 - STATEMENT OF CASH FLOWS The assets considered as cash and cash equivalents are: cash and due from banks and those assets held in order to fulfill short-term commitments, which enjoy a high level of liquidity, are easily convertible into known amounts of cash, are

67 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 67 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) subject to insignificant changes in value and mature within three months from the date of their acquisition. The breakdown is as follows: Cash and Due from Banks 55,855,698 60,418,326 30,142,222 - Securities issued by the Argentine Central Bank 14,567,483 6,470,480 10,514,624 - Interbank loans (call money loans granted) 935, ,300 40,000 - Overnight placements in foreign banks 269,278 1,227, ,497 - Repo transactions with the Argentine Central Bank and other entities in Pesos 9,654,517-14,286 Cash and cash equivalents 81,281,976 68,978,207 40,917,629 The following table shows the reconciliation between the items considered cash and cash equivalents and the corresponding Balance Sheet items: Securities issued by the Argentine Central Bank Due date under three months (*) 14,567,483 6,470,480 10,514,624 - Due date over three months 11,313,569 1,036, ,037 Total Securities issued by the Argentine Central Bank 25,881,052 7,507,213 10,937,661 Loans To the Financial Sector Interbank loans (call money loans granted) - Due date under three months (*) 935, ,300 40,000 - Due date over three months 222, Total Interbank loans (call money loans granted) 1,157, ,300 40,000 Other - Overnight placements in foreign banks 269,278 1,227, ,497 - Prefinancing of exports 30,145,912 11,409, ,960 - Other loans 29,726 12,778 79,121 Total Others 30,444,916 12,649, ,578 Amounts receivable for spot to be settled and forward sales - Repo transactions with the Argentine Central Bank and other entities in Pesos (*) - Other amounts receivable for spot sales to be settled and forward sales 9,654,517-14,286 3,458, , ,509

68 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 68 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) Total amounts receivable for spot sales to be settled and forward sales (*) deemed a cash equivalent. 13,112, , ,795 NOTE 22 CONTINGENCIES a) Tax issues At the date of these financial statements, there are several review and assessment processes ongoing, at different progress stages, initiated by the provincial and Autonomous City of Buenos Aires' Tax Authorities basically in connection with the Compensatory Bond set forth by the National Government in order to compensate financial institutions for the losses resulting from the asymmetric pesification of loans and deposits. As regards this decision by the Autonomous City of Buenos Aires, within the framework of the legal actions initiated by the Bank in order to challenge the tax assessment, a preliminary injunction for the amount corresponding to the Compensatory Bond was granted by the Federal Chamber of Appeals on Administrative Litigation and ratified by the Supreme Court. Therefore, the Court instructed A.G.I.P. (Government Revenue Administration) to refrain from initiating the tax foreclosure or taking any precautionary measures in this regard until a final decision is made. The file is currently in process before the Federal Chamber of Appeals on Administrative Litigation in order to solve the appeal submitted by the Bank against the decision issued in November 2013 by the Court of First Instance regarding the merits of the case. In all events, it is important to highlight that the decision by the Chamber Federal Prosecutor was favorable to the Bank. As regards other claims by the Autonomous City of Buenos Aires, the Bank adhered to a Restructuring Plan for Tax Debt in Arrears (Law No. 3,461 and supplementary regulations) which included the total waiver of interest and fines. Said adherence was informed through the corresponding court records before the pertinent judicial authorities. As regards the decisions by the Province of Buenos Aires, within the framework of some discussion processes under the scope of the Provincial Taxation Court, the court: (i) denied the Bank's request as regards the concepts not related to the Compensatory Bond and (ii) favored its non-taxability character. Therefore, the Bank adhered to the Tax Debt Restructuring System (Regulatory Resolution No. 12 and related resolutions) that sets forth discounts on amounts not related to the Compensatory Bond. Said adherence was informed through the corresponding court records before the pertinent judicial authorities. In turn, the province of Buenos Aires challenged the decision by its Taxation Court as regards the Compensatory Bond and requested the Chamber of Appeals on Administrative Litigation at La Plata to render said decision ineffective. The Bank appeared and filed a motion to dismiss for lack of jurisdiction since it deems only the Argentine Supreme Court of Justice must settle this issue. On April 15, 2014 said court sustained the motion to dismiss for lack of jurisdiction and ordered all record to be closed. This sentence was appealed by the province of Buenos Aires before the provincial Supreme Court which, to date, has not made a decision on the matter. As regards other claims by the different jurisdictions, the Bank has been expressing its disagreement in relation to the adjustments set forth by the appropriate administrative and/or judicial authorities. These processes and the potential impacts thereof are being constantly monitored by the Bank's Management and although the Bank deems all of its tax obligations to have been complied in line with the regulations in force, provisions deemed suitable according to each process's status have been established. b) Consumers' Associations Consumer associations claiming to represent consumers have filed claims against the Bank in relation to certain financial charges. The Bank deems the resolution of these issues shall not have a significant impact on its shareholders' equity. NOTE 23 - DIFFERENCES BETWEEN ARGENTINE CENTRAL BANK AND GAAP IN FORCE IN THE AUTONOMOUS CITY OF BUENOS AIRES The Bank has prepared the attached financial statements following valuation and disclosure criteria established by the Argentine Central Bank regulations, which differ in certain aspect from the GAAP in force in the Autonomous City of Buenos Aires. Also, Bank has identified and quantified the effect on the financial statements stemming from the different valuation and disclosure criteria, except when the quantification cannot be performed due to impracticability. The main differences between Argentine Central Bank regulations and Argentine GAAP in force in the Autonomous City of Buenos Aires are detailed below: ACCOUNTING FOR INCOME TAX ACCORDING TO THE DEFERRED TAX METHOD The Bank determines the income tax charge by applying the enacted tax rate to the estimated taxable income, without considering the effect of any temporary differences between accounting and tax results. Under Argentine GAAP in force in the Autonomous City of Buenos Aires, the Income Tax must be recognized using the deferred tax method and, therefore, deferred tax assets or liabilities must be established based on the aforementioned temporary differences. In addition, unused tax loss carry-forwards or fiscal credits that may be offset against future taxable income should be recognized as deferred assets, provided that taxable income is likely to be generated. The application of these criteria, based on the projections of the Bank, determines assets corresponding to the deferred tax as of December 31, 2017 and 2016 for $163,944 and $297,521 respectively VALUATION OF ASSETS WITH THE NON-FINANCIAL PUBLIC AND PRIVATE SECTORS GOVERNMENT SECURITIES

69 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 69 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) Argentine Central Bank's regulations set forth specific valuation criteria for securities recorded at cost plus yield, which are described in note 2 item b) to the financial statements. Under Argentine GAAP in force in the Autonomous City of Buenos Aires, the above-mentioned assets must be valued at their current value. The differences resulting from the application of said valuation criteria are included in said note ALLOWANCES ON THE NON-FINANCIAL PUBLIC SECTOR Current Argentine Central Bank regulations on the establishment of allowances provide that credits against the public sector are not subject to allowances for uncollectibility risk. Under Argentine GAAP, those allowances must be estimated based on the recoverability risk of assets RESTRUCTURED LOANS AND LIABILITIES As of the previous fiscal year end, pursuant to the regulations issued by the Argentine Central Bank, the Bank recorded restructured loans and financial obligations based on the actually restructured principal amounts plus accrued interest and principal adjustments, when applicable, minus collections or payments made. Pursuant to Argentine GAAP, those restructured loans and liabilities for which the modification of original conditions imply a substitution of instruments, must be recorded on the basis of the best possible estimate of the amounts receivable or payable discounted at a market rate that reflects market evaluations of the time value of money and the specific risks of such assets and liabilities at the time of restructuring COMPAÑÍA FINANCIERA ARGENTINA S.A. AND COBRANZAS Y SERVICIOS S.A. CONSOLIDATION GAAP set forth than when investments in controlled companies are made for the sale of disposal thereof within a year, they must be excluded from the consolidation. Pursuant to the provisions of note , the Banco has accepted an offer for the purchase of all shares held in Compañía Financiera Argentina S.A. and Cobranzas y Servicios S.A., which was approved by the Argentine Central Bank through Resolution No. 414 dated December 4, The transaction was closed on February 2, Pursuant to the Argentine Central Bank regulations, by holding a majority control, these companies are consolidated on a line-by-line basis with the Bank financial statements. NOTE 24 BALANCES RECONCILIATION WITH THE ACCOUNTING FRAMEWORK FOR THE ADHERENCE TO IFRS The Argentine Central Bank, through Communiqué A 5541 and amendments thereto, has set forth the implementation of International Financial Reporting Standards (IFRS) except for the implementation of item 5.5 (deterioration) of IFRS 9 Financial Instruments, temporarily exempted until January 1, 2020, when the regulations regarding the deterioration of financial assets are to be applied. The Bank is under the process of adhering to said standards, which application shall be mandatory as from the fiscal year starting on January 1, 2018, being the first quarterly financial statements to be submitted pursuant to said standards are those for the 3-month period ended on March 31, Therefore, the Bank date of transition to the IFRS, as set forth in IFRS 1 First implementation of the IFRS is January 1, Consolidated financial statements have been prepared in accordance with disclosure and valuation accounting standards issued by the Argentine Central Bank regarding financial reporting requirements for the publication of quarterly/annual financial statement, which differ from the IFRS regarding measurement and exposure aspects. As required by Communiqué A 6206, below are the reconciliation of assets and liabilities and shareholders' equity balances estimated pursuant to Argentine Central Bank standards and those calculated pursuant to the IFRS as of December 31, 2017 and the reconciliation of comprehensive profits and losses as of said date. In that sense, the Bank, when preparing the reconciliation, has taken into account the IFRS it deems shall apply to the preparation of its financial statements as of December 31, 2018, as well as the provisions of Communiqué A Items and figures included herein are subject to change and shall only be considered final when the corresponding annual financial statements are prepared and the IFRS are applied for the first time. Balances reconciliation with the accounting framework for the adherence to IFRS A. Balances reconciliation and shareholders' equity as of December 31, 2017 (Separate Financial Statements)

70 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 70 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) Assets 299,710,761 (6,483,977) 293,226,784 Cash and Due from Banks 55,855,698 55,855,698 Government and corporate securities (a),(g) 35,321,796 (10,773,534) 24,548,262 Loans (a) 158,817,379 (314,500) 158,502,879 Other receivables resulting from financial brokerage (a),(e),(f),(h) 30,505, ,688 30,773,219 Receivables from Financial Leases 1,872,587 1,872,587 Equity investments (b),(j) 7,301,580 (521,812) 6,779,768 Miscellaneous Receivables (a) 2,504,305 2,951 2,507,256 Bank premises and equipment (c),(j) 3,776,758 5,012,702 8,789,460 Miscellaneous Assets (j) 608,351 1,152,507 1,760,858 Intangible Assets (d),(j) 3,094,869 (1,309,979) 1,784,890 Unallocated items 51,907 51,907 Liabilities 263,890,041 (9,634,335) 254,255,706 Deposits 200,884, ,884,407 Other Liabilities Resulting from Financial Brokerage (a),(e),(g),(f) 52,526,222 (10,614,418) 41,911,804 Miscellaneous liabilities (f),(i) 5,319, ,620 6,144,127 Allowances (f) 303, , ,989 Subordinated Obligations 4,828,018 4,828,018 Unallocated items 28,361 28,361 Minority Interests 0 0 Other liabilities 0 0 Total Shareholders Equity Capital, Contributions and Reserves Other Comprehensive Income/(Loss) Retained earnings Argentine Central Bank 1st IFRS adjustment (i) IFRS Adjustment IFRS Balance 35,820,720 3,117,457 32,901 38,971,078 28,905,877 28,905, ,182 (282,518) 1,664 6,914,843 2,833, ,419 10,063,537 B. Comprehensive Income Statement as of December 31, 2017 reconciliation (Separate Financial Statements) Ref. Argentine Central Bank IFRS Adjustment IFRS Balance Net income / (loss) for the fiscal year 6,914, ,419 7,230,262 Financial Income (a),(j) 31,896, ,324 32,666,785 Financial Expenses (e),(a) 16,271,772 30,507 16,302,279 Provisions for Losses on Loans 2,585,287 2,585,287 Income from Services (j) 13,107,061 (435,325) 12,671,736 Expenses for Services (f) 5,364,636 90,904 5,455,540

71 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 71 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) Administrative Expenses (a),(c),(d) 13,688,615 (4,868) 13,683,747 Other (a),(b),(f) 2,437,631 (121,505) 2,316,126 Income tax (i) 2,616,000 (218,468) 2,397,532 Other Comprehensive Income/(Loss) 0 (282,518) (282,518) Changes in the property, plant and equipment and intangible assets revaluation surplus 0 Accrued actuarial profits or losses due to postemployment benefit plans 0 Foreign exchange loss/gain due to financial states conversion 0 Gains or losses on hedging securities Cash flow hedge 0 Gains or losses on hedging securities Net investment in foreign companies hedge Gains or losses on financial instruments at reasonable value with changes in OCI (Items and 4.1.2A of IFRS 9) Reasonable value change attributable to changes the credit risk of liabilities. Item a) of IFRS 9 Total Comprehensive Income/(Loss) for the fiscal year 0 (a) (282,518) (282,518) 0 6,914,843 32,901 6,947,744 C. Balances reconciliation and shareholders' equity as of December 31, 2017 (Consolidated Financial Statements)

72 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 72 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) Ref. Argentine Central Bank IFRS Adjustment IFRS Balance Assets 336,383,532 (13,231,880) 323,151,652 Cash and Due from Banks 56,650,611 (321,544) 56,329,067 Government and corporate securities (a),(g) 36,410,804 (11,373,289) 25,037,515 Loans (a) 197,329,685 (6,516,432) 190,813,253 Other receivables resulting from financial brokerage (a),(e),(f),(h) 32,440,775 45,410 32,486,185 Receivables from Financial Leases 1,678, ,678,071 Equity investments (b),(j) 179,928 (7,839) 172,089 Miscellaneous Receivables (a) 3,077, ,610 3,323,474 Bank premises and equipment (c),(j) 4,421,610 4,954,016 9,375,626 Miscellaneous Assets (j) 621,005 1,151,621 1,772,626 Intangible Assets (d),(j) 3,520,665 (1,408,826) 2,111,839 Unallocated items 52,514 (607) 51,907 Liabilities 300,562,812 (18,318,818) 282,243,994 Deposits 203,503,721 (2,733,090) 200,770,631 Other Liabilities Resulting from Financial Brokerage (a),(e),(g) (f) 81,791,721 (14,002,465) 67,789,256 Miscellaneous liabilities (f),(i) 7,909, ,239 8,320,476 Allowances (f) 654,614 (147,362) 507,252 Subordinated Obligations 4,828, ,828,018 Unallocated items 30,029 (1,668) 28,361 Minority Interests 1,845,472 (1,845,472) 0 Other liabilities Other liabilities pursuant to IFRS Shareholders Equity attributable to the controlling company owners Capital, Contributions and Reserves Other Comprehensive Income/(Loss) Retained earnings Shareholders Equity attributable to non-controlling interests Total Shareholders Equity Argentine Central Bank 1st IFRS adjustment (i) IFRS Adjustment IFRS Balance 35,820,720 3,117,457 32,901 38,971,078 28,905,877 28,905, ,182 (282,518) 1,664 6,914,843 2,833, ,419 10,063,537 1,402, ,573 1,936,580 35,820,720 4,519, ,474 40,907,658

73 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 73 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) D. Comprehensive Income Statement as of December 31, 2017 reconciliation (Consolidated Financial Statements) Ref. Argentine Central Bank IFRS Adjustment IFRS Balance Net income / (loss) for the fiscal year 6,914, ,419 7,230,262 Financial Income (a),(j) 44,088,416 (2,535,321) 41,553,095 Financial Expenses (e),(a) 20,326,451 (1,100,804) 19,225,647 Provisions for Losses on Loans 5,204,993 (602,093) 4,602,900 Income from Services (j) 21,397,639 (873,243) 20,524,396 Expenses for Services (f) 6,582,807 (21,604) 6,561,203 Administrative Expenses (a),(c),(d) 22,148,512 (1,520,376) 20,628,136 Other (a),(b),(f) 130, , ,783 Income tax (i) 4,438,630 (362,504) 4,076,126 Other Comprehensive Income/(Loss) 0 (282,518) (282,518) Changes in the property, plant and equipment and intangible assets revaluation surplus Accrued actuarial profits or losses due to post-employment benefit plans Foreign exchange loss/gain due to financial states conversion 0 0 Gains or losses on hedging securities Cash flow hedge 0 0 Gains or losses on hedging securities Net investment in foreign companies hedge 0 0 Gains or losses on financial instruments at reasonable value with changes in OCI (Items and 4.1.2A of IFRS 9) Reasonable value change attributable to changes the credit risk of liabilities. Item a) of IFRS 9 Total Comprehensive Income/(Loss) for the fiscal year (*) Total Comprehensive Income/(Loss) attributable to: (a) (282,518) (282,518) 0 0 6,914,843 32,901 6,947,744 Total Comprehensive Income/(Loss) attributable to the controlling company owners Total Comprehensive Income/(Loss) attributable to non-controlling interests 6,413, ,573 Adjustments explanation (a) Change in the classification criterion and measurement of financial assets and liabilities IFRS divide all financial assets into three categories: those measured at amortized cost, those measured at fair value with a balancing entry in other comprehensive income/(loss) and those measured at fair value with a balancing entry in income/(loss) based on the business model and instrument characteristics. The Bank accounting policy under the Argentine Central Bank differs from the provisions of the IFRS in the following aspects:

74 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 74 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) (i) Government securities not included in the volatility lists issued by the Argentine Central Bank are recorded at their incorporation value increased on an exponential basis according to their internal rate of return (IRR); (ii) Loans are recorded at their incorporation value plus interests accrued at the rate contractually agreed upon; (iii) Debt securities incorporated at par have been recorded at their technical value; (iv) Financial trusts participation certificates, upon which the Bank has no significant influence nor control, have been valued taking into account the participation in the assets net of liabilities that stem from the financial statements of the respective trusts, corrected for the effect on them of the application of Argentine Central Bank regulations, when applicable. (v) Negotiable obligations and debt securities without quotation have been valued at cost increased on an exponential basis according to their internal rate of return. Pursuant to the provisions of IFRS 9, an entity shall classify financial assets into measured at amortized cost, at fair value with changes to other comprehensive income/(loss) or at fair value with changes to income/(loss), based on: a) The entity business model used to manage financial assets and b) The characteristics of contractual cash flows of financial assets Pursuant to the business model the Bank uses to manage financial assets, they have been classified into the following categories: 1) Amortized cost The effect on the Bank equity of the estimation of the amortized cost pursuant to the provisions of IFRS 9 for Loans, Other Receivables and Liabilities related to financial activity and miscellaneous receivables implies a $257,619 decrease and a $36,104 increase in the fiscal year income/loss. 2) Fair value with a balancing entry in other comprehensive income/(loss) The Bank has classified within this category its holdings of government securities included in the assets of Financial Trust Galtrust I. The effect on the Bank equity and income/(loss) for the fiscal year accounts for an increase of $44,171 and $290,706 respectively, and a decrease in Other Comprehensive income/(loss) of $ $282,518. 3) Fair value with changes to income/(loss) The Bank has classified the following financial assets within this category: Positions in government and private securities, in instruments issued by the Argentine Central Bank, in negotiable obligations and certain investments in debt securities issued by financial trusts. The effect on the Bank equity on an individual basis accounts for a $12,131 increase and a $18,176 decrease in the income/(loss) for the fiscal year, while on a consolidated basis the effect is a $12,131 increase and a $49,201 decrease, respectively. (b) Equity investments As of December 31, 2017, companies controlled by the Bank pursuant to the framework set forth by the Argentine Central Bank are the following: Tarjetas Regionales S.A. and its subsidiaries, Galicia Valores S.A., Compañía Financiera Argentina S.A. and Cobranzas y Servicios S.A., Galicia Valores S.A. shall remain consolidated pursuant to IFRS 10 since they are under the scope of the concept of control set forth in said standard. When applying the equity investment method, the financial statements of each company as of December 31, 2016 and December 31, 2017 have been used. Shareholders' equities stemming from their financial statements have been adjusted for the effect on them of the application of the IFRS. The adjustments effect account for an increase in shareholders' equity and income/(loss) for the period of $630,695 and $29,784, respectively. In the case of Compañía Financiera Argentina S.A. and Cobranzas y Servicios S.A. they are no longer consolidated under IFRS 10 since said companies have been classified as held for sale pursuant to IFRS 5, due to the fact that the respective transfer agreements have been subscribed and they have been valued at the lowest of their book value and their fair value less their cost of sale. On February 2, 2018 the Bank transferred both companies shares to the buyers (see note ). In the case of Tarjetas Regionales S.A. and its subsidiaries, they fall under the control category and are therefore consolidated; however, as from January 1, 2018 as a result of the company spin off-merger process and integration into Grupo Financiero Galicia S.A. it shall cease to be under the Bank control (see note 26). (c) Bank premises and equipment and miscellaneous assets Pursuant to IFRS 1, the current value of Bank premises and equipment and of investment property has been adopted as a cost allotted as of the date of transition towards the IFRS, after the transition date, an item of Bank premises and equipment and miscellaneous assets shall be recorded at cost minus accrued depreciations and the accrued amount of losses due to impairment of value. Pursuant to Argentine Central Bank regulations said assets are recorded at their historic value less their accrued amortization as stated in note The adjustments effect accounts for a $4,546,695 increase in shareholders' equity and a $28,234 decrease in income/(loss) for the fiscal year. (d) Intangible assets Pursuant to the IFRS, intangible assets are identifiable, non-monetary assets without physical substance. In order to be recognized, the Bank must have control over them and said assets must generate future economic benefits. The adjustments effect accounts for a $843,972 decrease in shareholders' equity and a $41,381 increase in income/(loss) for the fiscal year due to the reversal of the amortizations generated under Argentine Central Bank regulations. (e) Guarantees Granted

75 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 75 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) Under the IFRS, and taking into account paragraph 4 of Communiqué "A" 6114 of the Argentine Central Bank, financial guarantees granted must be initially recognized at their fair value, which equals the commission collected in advance in most cases. Said amount is later amortized following the straight-line method for the duration of the contract. As of each closing date, financial guarantees are measured at the highest of: (i) the value of the unearned commission as of the fiscal year closing date and (ii) the best estimate of the amount payable to rescind the agreement discounted at is current value as of fiscal year end. Pursuant to Argentine Central Bank regulations commissions collected under financial guarantee agreements are charged to income/loss when collected. The adjustment corresponds to the recognition of unearned commissions on guarantees as of the closing date and the subsequent reversal of the charge to income/(loss) made under the Argentine Central Bank standards. The effect of adjustments corresponding to Guarantees Granted accounts for an increase in assets and liabilities of $163,466 and $165,126, respectively while the impact on income/(loss) accounts for a $28,847 increase and a $30,038 decrease as a result of the abovementioned changes in shareholders' equity. (f) Other adjustments Correspond mainly to labor, commercial and tax provisions as well as those related to the client loyalty program Quiero!. The adjustments effect accounts for $320,588 increase in liabilities and a $253,423 decrease in income/(loss) for the fiscal year. Also, the exposure of holdings in negotiable obligations issued by the Bank has been adjusted for $4,648, since pursuant to IFRS 9, the repurchase of debt by the issuer settles the liability. (g) Repo transactions Reverse Repo Transactions Pursuant to the IFRS, financial assets acquired through reverse repo transactions for which risks and benefits have not been transferred, must be recognized as loans granted. Under Argentine Central Bank standards, the security acquired is recognized upon the corresponding transfer. The adjustment corresponds to the government security derecognition recorded for $10,774,896, as well as the reversal of liabilities recorded under other liabilities resulting from financial brokerage for $10,774,896. (h) Consolidation Pursuant to the IFRS, an investor controls a subsidiary if he/she is exposed or entitled to variable returns according to his/her equity in said entity and if he/she is capable of affecting said returns through his/her authority over the subsidiary. The corresponding adjustment to equity investments corresponds to the consolidation of financial trust Galtrust I and the financial trust Saturno Créditos, which are deemed controlled pursuant to Argentine Central Bank standards. (i) Miscellaneous liabilities They correspond mainly to the adjustments for income tax. Pursuant to the IFRS, the charge for taxes for the fiscal year includes current and deferred taxes. Current income tax is calculated based on laws passed or substantially passed as of the date of the balance sheet. Differed tax is recognized pursuant to the tax liability method, due to the temporary differences stemming between assets and liabilities tax bases and the book value thereof recorded in the financial statements. However, differed tax liabilities are not recognized if they stem from the initial goodwill recognition; or the initial recognition of assets or liabilities from a transaction, other than a business combination, which at the time of the transaction does not affect the accounting result nor the tax income/loss. Deferred tax is estimated using tax rates (and laws) approved or about to be approved as of the date of the balance sheet and which are expected to be applicable when the differed tax asset is realized or when the differed tax liability is settled. Under Argentine Central Bank standards, the Bank recognizes the current tax for the fiscal year (see note to the individual financial statements). The tax effect of recognizing the deferred tax as of December 31, 2017 generates, individually, a deferred liability of $659,495, while at a consolidated level said adjustment accounts for deferred assets for $557,871 and deferred liabilities for $659,495. (j) Reclassifications For the purposes of this reconciliation, all reclassifications needed for a suitable disclosure pursuant to IFRS were not made. As of fiscal year end, the main reclassifications identified in the balance sheet and the income statement are: Improvement of third-party real state Pursuant to Argentine Central Bank standards they are recorded under Intangible Assets. Pursuant to IFRS, said improvements are part of Property, Plant and Equipment. Therefore, $466,007 have been reclassified as premises and equipment. Commissions for loan origination Pursuant to Argentine Central Bank standards they are recorded under Income for Services. Pursuant to IFRS 9, said commissions are part of the cash flow necessary to estimate loans IRR. Therefore, $435,325 have been reclassified to Financial Income. Equity Investments According to the Ordinary and Extraordinary Shareholders' Meeting of Prisma Medios de Pago S.A. held on August 31, 2017, the shareholders intend to transfer all shares, therefore, according to IFRS 5 it is deemed a non-current asset held for sale and valued at cost or market value, whichever is lowest, and has been reclassified as miscellaneous assets for $208,972. Also, Compañía Financiera Argentina S.A. y Cobranzas y Servicios S.A. (see note ) pursuant to Argentine Central Bank regulations, have been recorded under Equity Investments. As stated above regarding IFRS 5, it has been reclassified Miscellaneous Assets for $943,535. IFRS 1 IMPLEMENTATION IFRS 1 allows entities implementing the IFRS for the first time to take into account certain one-time exemptions to the retroactive implementation of the IFRS in force as of the date of the financial statements as of December 31, Said exemptions have been foreseen by the IASB in order to simplify said standards first implementation.

76 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 76 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) Below are the optional exemptions applicable to the Bank under IFRS 1: 1. Cost attributed to Bank premises and equipment and miscellaneous assets: the current value of real state classified as Bank premises and equipment and miscellaneous assets have been adopted as cost attributed as of the date of IFRS implementation. Also, the Bank has used the option set forth in paragraph D5 of IFRS 1 and performed the measurement described therein only for certain Bank premises and equipment items. 2. Business combinations: the Bank has chosen not to apply IFRS 3 Business combinations in a retroactive manner for business combinations prior to the date of IFRS implementation. 3. Assets and liabilities of subsidiaries already implementing the IFRS: the Bank has adopted the IFRS for the first time after its subsidiary Tarjetas Regionales S.A and its corresponding subsidiaries. Therefore, the Bank has measured its consolidated financial statements, said subsidiaries assets and liabilities for the same book values that appear in the financial statements thereof. For the remaining equity investments the exemption set forth in paragraph D15b)ii) of IFRS 1 was used. The Bank has not used any other exemption available in IFRS 1. Mandatory IFRS exemptions Below are the mandatory exemptions applicable to the Bank under IFRS 1: 1. Estimations: estimations made by the Bank under IFRS as of December 31, 2016, are consistent with the estimations performed as of the same date pursuant to the Argentine Central Bank standards taking into account the provisions of paragraph 4 of Communiqué A 6114 issued by the Argentine Central Bank regarding the non-implementation of item 5.5 of IFRS Derecognition of financial assets and liabilities: the Bank applied the criteria of derecognition of financial assets and liabilities under IFRS 9 prospectively; therefore, it does not include the assets and liabilities derecognized as of December 31, Financial assets classification and measurement: the Bank has taken into account the facts and circumstances existing as of December 31, 2016 in its assessment of whether financial assets meet the criteria to be classified as measured at amortized cost or at fair value with changes to other comprehensive income/(loss). 4. Other mandatory exemptions set forth in IFRS 1 which have not been taken into account since they do not apply to the Bank are: - Hedge accounting. - Non-controlling interests. - Implicit derivatives. - Government loans. NOTE 25 PENALTIES APPLIED TO THE BANK AND SUMMARY PROCEEDING INITIATED BY THE ARGENTINE CENTRAL BANK - Penalties applied to the financial institution as of December 31, 2017 Financial summary proceedings by the Argentine Central Bank No Penalty notification date: October 28, Reason for penalty: alleged lack of compliance of anti-money laundering regulations, due to lack of files and client knowledge. Amount applied and penalized individuals (fines): the Bank $ 230.-; Daniel A. Llambías $ 220.-; Luis M. Ribaya $ 172.-; Antonio R. Garcés $ 169.-; Enrique M. Garda Olaciregui $ 126.-; Eduardo A. Fanciulli $ 126.-; Sergio Grinenco $ 120.-; Guillermo J. Pando $ and Pablo Garat $ State of proceedings: extraordinary appeal filed before the Argentine Supreme Court of Justice (CSJN), against the sentence by the Federal Chamber of Appeals on Administrative Litigation which rejected the appeal filed by the affected parties against the penalties applied. Accounting treatment: fines were fully paid and charged to income for the corresponding fiscal year. Financial summary proceedings by the Argentine Central Bank 1223 and 1226 (accumulated). Penalty notification date: November 15, 2013 Reason for penalty: alleged lack of compliance of "A" 3426 and Com. "A" 3381 by the Argentine Central Bank and alleged lack of compliance of restrictions on assistance to related customers. Amount applied and penalized individuals (fines): the Bank $ 400.-; José H. Petrocelli $ 328.-; Luis M. Ribaya $ 328.-; Eduardo J. Zimmermann $ 324.-; Antonio R. Garcés $ 400.-; Eduardo H. Arrobas $ 400.-; Daniel A. Llambías $ 400.-; Eduardo J. Escasany $ 260.-; Federico Braun $ and Abel Ayerza $ Messrs. Juan M. Etchegoyhen, Federico M. Caparrós Bosch, Jorge Grouman, Norberto R. Armando (deceased), Daniel Morgan (deceased), Luis O. Oddone, Ricardo A. Bertoglio (deceased), Norberto Corizzo and Adolfo H. Melian, received a warning. State of proceedings: on June 27, 2017 the Argentine Supreme Court of Justice rejected the extraordinary appeal filed and the penalties applied became final. Accounting treatment: fines were fully paid and charged to income for the corresponding fiscal year. Summary proceedings by the UIF File 68/09. Penalty notification date: February 25, Reason for penalty: alleged lack of reporting of suspicious transactions in alleged violation of Law No Amount applied and penalized individuals (fines): the Bank $ ; Eduardo A. Fanciulli $ 812.-; Enrique M. Garda Olaciregui $ State of proceedings: Court I of the Federal Chamber of Appeals on Administrative Litigation partially recalled these penalties, thus releasing Mr. Eduardo A. Fanciulli from all liability and reducing the fines imposed. The UIF, the Bank and Mr. Garda Olaciregui, filed extraordinary federal appeals before the Argentine Supreme Court of Justice. Accounting treatment: As of December 31, 2017 and 2016 a provision of $ 4,483 was recorded.

77 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 77 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) - Summary proceeding initiated by the Argentine Central Bank (without penalty) as of December 31, 2017 Summary proceeding No Penalty notification date: January 26, Charges: alleged violation of Com. "A" 4940, 4662 and "C" by the Argentine Central Bank during 8 foreign exchange transactions. Individuals involved: the Bank, Alejandro Antonelli, Sergio Lenzuen, Daniel B Toloza, Ignacio J. Castro, José A. Petracca, Juan C. Litardo, Laura C. Cifala, Marcela R. Skrebutenas, María J. Baldatti, María V. Lema, Marina A. de Sierra, Matías L. Alvarez, Matías N. Abate, María B. Troitiño, Natalia Bortoli, Alejandro Schlimovich Ricciardi and Sandra P. Jaleh Camin. State of proceedings: a defense statement and a motion for non-criminality of the act pursuant to the most lenient criminal law were filed. Both are under consideration of the Foreign Exchange Administrative Issues Department of the Argentine Central Bank. Summary proceeding No Penalty notification date: December 29, Charges: alleged violation of Section 1 subsections C), e) and f) of Law No integrated with Com. "A" 3471, 3826 and 5264 by the Argentine Central Bank. Individuals involved in the summary proceedings: the Bank, María José Baldatti de Iorio and Laura Cecilia Cifala. State of proceedings: a defense statement and a motion for non-criminality of the act pursuant to the most lenient criminal law were filed and are under consideration of the Foreign Exchange Administrative Issues Department of the Argentine Central Bank. Summary proceeding No Penalty notification date: February 16, Charges: alleged violation of Section 1 subsections C), e) and f) of Law No integrated with Com. A 5377 (amending item 3 of the Annex to Communiqué A 5264) by the Argentine Central Bank. Individuals involved: the Bank, María José Baldatti de Iorio, José Antonio Petracca and María Paula Petzl. State of proceedings: a defense statement and a motion for non-criminality of the act pursuant to the most lenient criminal law were filed. Both are under consideration of the Foreign Exchange Administrative Issues Department of the Argentine Central Bank. Summary proceeding No Penalty notification date: August 25, Charges: alleged violation of Section 1 subsections C), e) and f) of Law No integrated with Com. A 3471, 3825, 5264 y 5265 by the Argentine Central Bank. Individuals involved: María José Baldatti de Iorio, Laura Cecilia Cifala. State of proceedings: a defense statement and a motion for non-criminality of the act pursuant to the most lenient criminal law were filed. Both are under consideration of the Foreign Exchange Administrative Issues Department of the Argentine Central Bank. NOTE 26 SPIN OFF-MERGER PROCESS OF CONTROLLED COMPANY TARJETAS REGIONALES S.A. AND ITS INTEGRATION INTO GRUPO FINANCIERO GALICIA S.A. The Bank Ordinary and Extraordinary Shareholders' Meeting held on December 14, 2017 decided to initiate a corporate restructuring process which entails the separation of part of the Bank equity, made up of its holdings of Tarjetas Regionales S.A. shares accounting for 77% of its capital stock, to be merged into the capital stock of its controlling company Grupo Financiero Galicia S.A. effective from January 1, Below is the Bank balance sheet as of December 31, 2017 reflecting the spin off:

78 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 78 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) BALANCE SHEET COLUMN I CONSOLIDATES BALANCE SHEET SECT. 33 LAW No COLUMN II TARJETAS REGIONALES SPIN OFF AS OF COLUMN III NON- SPUN OFF BALANCE SHEET ASSETS CASH AND DUE FROM BANKS 56,650, ,070 56,177,541 - CASH 8,978, ,496 8,613,417 - FINANCIAL INSTITUTIONS AND CORRESPONDENTS 47,671, ,574 47,564,124 - ARGENTINE CENTRAL BANK 46,951, ,951,142 - OTHER LOCAL FINANCIAL INSTITUTIONS 118, ,924 11,644 - FOREIGN 601, ,338 GOVERNMENT AND CORPORATE SECURITIES 36,410, ,631 36,160,173 - HOLDINGS OF GOVERNMENT SECURITIES RECORDED AT FAIR MARKET VALUE 5,673, ,673,870 - HOLDINGS RECORDED AT COST PLUS YIELD 3,890, ,890,226 - INVESTMENTS IN QUOTED CORPORATE SECURITIES 11, ,256 - SECURITIES ISSUED BY THE ARGENTINE CENTRAL BANK 26,835, ,631 26,584,821 LOANS 197,329,685 32,289, ,040,361 - TO THE NON-FINANCIAL PUBLIC SECTOR TO THE FINANCIAL SECTOR 3,979, ,979,358 - INTERBANK LOANS (CALL MONEY LOANS GRANTED) 587, ,161 - OTHER FINANCING TO LOCAL FINANCIAL INSTITUTIONS 3,184, ,184,121 - ACCRUED INTEREST, ADJUSTMENTS AND QUOTATION DIFFERENCES RECEIVABLE 208, ,076 - TO THE NON-FINANCIAL PRIVATE SECTOR AND RESIDENTS ABROAD 200,020,361 34,669, ,350,885 - ADVANCES 11,334, ,334,084 - PROMISSORY NOTES 35,527, ,527,757 - MORTGAGE LOANS 5,713,233 (5,406) 5,718,639 - PLEDGE LOANS 1,077, ,077,873 - PERSONAL LOANS 26,032,761 3,744,023 22,288,738 - CREDIT CARD LOANS 88,192,653 30,928,454 57,264,199 - OTHER 30,448, ,448,940 - ACCRUED INTEREST, ADJUSTMENTS AND QUOTATION DIFFERENCES RECEIVABLE 2,649, ,648,500 - (UNALLOCATED COLLECTIONS) (922,116) 1,793 (923,909) - (DOCUMENTED INTEREST) (33,936) 0 (33,936) - (ALLOWANCES) (6,670,346) (2,380,152) (4,290,194)

79 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 79 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) BALANCE SHEET COLUMN I CONSOLIDATES BALANCE SHEET SECT. 33 LAW No COLUMN II TARJETAS REGIONALES SPIN OFF AS OF COLUMN III NON- SPUN OFF BALANCE SHEET OTHER RECEIVABLES RESULTING FROM FINANCIAL BROKERAGE 32,440,775 1,870,902 30,569,873 - ARGENTINE CENTRAL BANK 3,661, ,661,408 - AMOUNTS RECEIVABLE FOR SPOT AND FORWARD SALES TO BE SETTLED 13,112, ,112,552 - SECURITIES RECEIVABLE UNDER SPOT AND FORWARD PURCHASES TO BE SETTLED 7,215, ,215,531 - OTHER RECEIVABLES NOT INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 5,030,481 2,301,471 2,729,010 - NEGOTIABLE OBLIGATIONS WITHOUT QUOTATION 1,088,229 (179,363) 1,267,592 - BALANCES FROM FORWARD TRANSACTIONS WITHOUT DELIVERY OF UNDERLYING ASSET TO BE SETTLED 525, ,349 - OTHER RECEIVABLES INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 2,009,833 (251,206) 2,261,039 - ACCRUED INTEREST RECEIVABLE INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 2, ,190 - (ALLOWANCES) (204,798) 0 (204,798) RECEIVABLES FROM FINANCIAL LEASES 1,678,071 (194,516) 1,872,587 RECEIVABLES FROM FINANCIAL LEASES 1,673,194 (191,149) 1,864,343 - ACCRUED INTEREST AND ADJUSTMENTS RECEIVABLE 27,123 (3,367) 30,490 - (ALLOWANCES) (22,246) 0 (22,246) EQUITY INVESTMENTS 179,928 (1,141) 181,069 - IN FINANCIAL INSTITUTIONS 9, ,308 - OTHER 170,676 (1,141) 171,817 - (ALLOWANCES) (56) 0 (56) MISCELLANEOUS RECEIVABLES 3,077, ,586 2,800,278 - RECEIVABLES FOR ASSETS SOLD 123, ,501 - MINIMUM PRESUMED INCOME TAX - TAX CREDIT 8,912 8, OTHER 2,971, ,674 2,702,800 - ACCRUED INTEREST ON AND ADJUSTMENTS TO RECEIVABLES FOR ASSETS SOLD OTHER ACCRUED INTEREST AND ADJUSTMENTS RECEIVABLE 29, ,283 - (ALLOWANCES) (55,782) 0 (55,782) BANK PREMISES AND EQUIPMENT 4,421, ,166 3,835,444 MISCELLANEOUS ASSETS 621,005 11, ,237 INTANGIBLE ASSETS 3,520, ,949 3,193,716 - ORGANIZATION AND DEVELOPMENT EXPENSES 3,520, ,949 3,193,716 UNALLOCATED ITEMS 52, ,514 TOTAL ASSETS 336,383,532 35,890, ,492,793

80 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 80 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) BALANCE SHEET COLUMN I CONSOLIDATES BALANCE SHEET SECT. 33 LAW No COLUMN II TARJETAS REGIONALES SPIN OFF AS OF COLUMN III NON- SPUN OFF BALANCE SHEET LIABILITIES DEPOSITS 203,503,721 (63,899) 203,567,620 - TO THE NON-FINANCIAL PUBLIC SECTOR 1,163, ,163,816 - FINANCIAL SECTOR 115, ,152 - NON-FINANCIAL PRIVATE SECTOR AND RESIDENTS ABROAD 202,224,753 (63,899) 202,288,652 - CURRENT ACCOUNTS 32,300,455 (61,982) 32,362,437 - SAVINGS ACCOUNTS 101,127,400 (1,917) 101,129,317 - TIME DEPOSITS 65,800, ,800,722 - INVESTMENT ACCOUNTS 249, ,020 - OTHER 1,302, ,302,261 - ACCRUED INTEREST, ADJUSTMENTS AND QUOTATION DIFFERENCES PAYABLE 1,444, ,444,895 OTHER LIABILITIES RESULTING FROM FINANCIAL BROKERAGE 81,791,721 25,876,058 55,915,663 - ARGENTINE CENTRAL BANK 15, ,323 - OTHER 15, ,323 - BANKS AND INTERNATIONAL ENTITIES 5,031, ,031,206 - UNSUBORDINATED NEGOTIABLE OBLIGATIONS 15,883,041 9,121,887 6,761,154 - AMOUNTS PAYABLE FOR SPOT AND FORWARD PURCHASES TO BE SETTLED 7,263, ,263,293 - SECURITIES TO BE DELIVERED UNDER SPOT AND FORWARD SALES TO BE SETTLED 14,200, ,200,261 - FINANCING FROM LOCAL FINANCIAL INSTITUTIONS 3,031, ,474 2,893,680 - INTERBANK LOANS (CALL MONEY LOANS RECEIVED) 154, ,112 - OTHER FINANCING FROM LOCAL FINANCIAL INSTITUTIONS 2,834, ,000 2,704,599 - ACCRUED INTEREST PAYABLE 42,443 7,474 34,969 - BALANCES FROM FORWARD TRANSACTIONS WITHOUT DELIVERY OF UNDERLYING ASSET TO BE SETTLED 584, ,856 - OTHER 35,137,022 16,257,075 18,879,947 - ACCRUED INTEREST, ADJUSTMENTS AND QUOTATION DIFFERENCES PAYABLE 645, , ,943 MISCELLANEOUS LIABILITIES 7,909,237 2,174,440 5,734,797 - DIRECTORS' AND SYNDICS' FEES 36,855 14,743 22,112 - OTHER 7,872,382 2,159,697 5,712,685 ALLOWANCES 654,614 48, ,351 SUBORDINATED NEGOTIABLE OBLIGATIONS 4,828, ,828,018 UNALLOCATED ITEMS 30, ,029 MINORITY INTERESTS 1,845,472 1,806,747 38,725 SHAREHOLDERS' EQUITY TOTAL LIABILITIES 300,562,812 29,841, ,721,203 Firmado a los efectos de su identificación - CAPITAL STOCK ISSUANCE PREMIUMS: IRREV. CONTRIBUTIONS LEGAL RESERVE DISCRETIONARY RESERVE: RETAINED EARNINGS/LOSSES TOTAL SHAREHOLDERS' EQUITY TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY ASSETS, LIABILITIES AND EQUITY ALLOCATION CRITERIA. CAPITAL STOCK REDUCTION a. Column I: Consolidated balance sheet, section 33 of Law No, as of Corresponds to balances stemming from Banco de Galicia y Buenos Aires S.A. consolidated balance sheet pursuant to Section 33 - Law 19,550 as of December 31, b. Column II: Tarjetas Regionales S.A. spin off as of The Bank spun-off equity is made up exclusively of 829,886,212 ordinary, book-entry class A and B Tarjetas Regionales S.A. shares, accounting for 77% of capital stock to be transferred to our controlling company Grupo Financiero Galicia S.A.. No Bank liabilities are taken into consideration in the spin off process. The accounting values of shares making up the Bank shareholders' equity to be spun off amounts to $6,049,130 as follows:

81 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 81 of 96 NOTES TO THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017, PRESENTED IN COMPARATIVE FORMAT (FIGURES STATED IN THOUSANDS) Tarjetas Regionales S.A. shareholders' equity according to GAAP as of ,413,883 Adjustment to comply with Argentine Central Bank regulations (557,871.-) Shareholders' equity adjusted pursuant the Argentine Central Bank regulations 7,856,012 Equity value (77%) 6,049,130 Said value accounts for approximately 23% of the Bank shareholders' equity before the capital contribution described in Note 13. The decrease in shareholders' equity caused by the partial spin off of the Bank equity shall be allocated to an equity reduction in equal percentage (23%), which accounts for a $127,425 reduction and the corresponding settlement of 127,424,621 ordinary, Class "B" shares with one vote per share and a face value of $ 1.-. The remaining accounting value, namely, the accounting value of Tarjetas Regionales S.A. spun off shares, minus the amount of the Bank capital decrease, i.e., the remaining $5,921,705 shall be allocated to a decrease in the following captions: Issuance premiums: $ 84,363.- Adjustments to shareholders' equity: $ 137,164.- Legal Reserve: $ 830,508.- Discretionary reserve: $ 4,869,670 c. Column III: Per spin-off balance as of Has been estimated as the difference between columns I and II. The Banco, pursuant to the provisions of Sections 7 and 15 of Law No. 21,526 on Financial Entities and amendments thereto, submitted the corresponding authorization request before the Argentine Central Bank. On January 19, 2018, said entity made a decision on the matter and stated that there are no elements to substantiate said authorization and that there are also no other considerations or objections to make, therefore establishing that said company continues under the Consolidated Monitoring System. On January 23, 2018 the final spin off-merger agreement was subscribed.

82 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 82 of 96 INFORMATION REQUIRED IN ADDITION TO THE NOTES TO THE FINANCIAL STATEMENTS SECTION 12 OF GENERAL RESOLUTION 622/13 BY THE NATIONAL SECURITIES COMMISSION FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017 (FIGURES STATED IN THOUSANDS OF PESOS) NOTE 1: SIGNIFICANT SPECIFIC LEGAL SYSTEMS ENTAILING THE LAPSING OF CONTINGENT BENEFITS ENVISAGED BY THOSE REGULATIONS OR THEIR REBIRTH. None. NOTE 2: SIGNIFICANT CHANGES IN THE COMPANY ACTIVITIES OR OTHER SIMILAR CIRCUMSTANCES THAT OCCURRED DURING THE PERIODS COVERED BY THE FINANCIAL STATEMENTS WHICH MAY HAVE AN EFFECT ON THEIR COMPARABILITY WITH THOSE PRESENTED IN PRIOR PERIODS, OR THAT SHALL BE PRESENTED IN FUTURE PERIODS. None. NOTES 3 and 4: CLASSIFICATION OF RECEIVABLES AND DEBT BALANCES BY CATEGORY. - CLASSIFICATION OF RECEIVABLES AND DEBTS ACCORDING TO THEIR FINANCIAL EFFECTS. Credit: see Schedule B Classification of total credit according to status and collateral received, Schedule C Concentration of credit and Schedule D Breakdown of total credit according to maturity date, to the individual financial statements. Debts: see Schedule H Deposit concentration and Schedule I Breakdown by maturity date of deposits, Other Liabilities Resulting from Financial Brokerage and Subordinated negotiable obligations, to the individual financial statements. NOTE 5: BREAKDOWN OF PERCENTAGE OF EQUITY INVESTMENTS SECTION 33 OF LAW No. 19,550. See Note 14 to the individual financial statements. NOTE 6: SALES RECEIVABLES OR LOANS GRANTED TO DIRECTORS, SYNDICS, MEMBERS OF THE OVERSIGHT COMMITTEE AND THEIR RELATIVES UP TO THE SECOND DEGREE. The breakdown of credits or loans corresponding to Directors and Syndics and their relatives up to the second degree are included in Schedule N - Financial Assistance to related parties, which is part of the individual financial statements. Debt balances as of for said caption amount to $23,988, being the maximum assistance $24,212. Said assistance corresponds to funding granted under similar terms to the rest of the Bank's customers. NOTE 7: NOTE 8: PHYSICAL INVENTORY OF INVENTORIES. Non-applicable. CURRENT VALUES USED TO VALUE INVENTORIES, BANK PREMISES AND EQUIPMENT AND OTHER SIGNIFICANT ASSETS. See Notes and , and Schedule F Bank premises and equipment and miscellaneous assets, and Schedule G Breakdown of intangible assets in the individual financial statements. NOTE 9: NOTE 10: NOTE 11: TECHNICALLY APPRAISED FIXED ASSETS. See Note to the individual financial statements. OBSOLETE FIXED ASSETS. None. EQUITY INVESTMENTS. There are no limitations pursuant to section 31 of law No. 19,550 since it is a Company which goals are financial and investment activities. NOTE 12: RECOVERABLE VALUES.

83 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 83 of 96 INFORMATION REQUIRED IN ADDITION TO THE NOTES TO THE FINANCIAL STATEMENTS SECTION 12 OF GENERAL RESOLUTION 622/13 BY THE NATIONAL SECURITIES COMMISSION FOR THE FISCAL YEAR FROM JANUARY 1, 2017 TO DECEMBER 31, 2017 (FIGURES STATED IN THOUSANDS OF PESOS) See Note to the individual financial statements. NOTE 13: INSURANCE. As of December 31, 2017 the breakdown of insurance policies taken on fixed assets was as follows: INSURED ASSETS RISK COVERED INSURED AMOUNT ACCOUNTING VALUE Money, checks. General Banking Liability. 3,003,872 8,417,778 Real state, machinery, equipment, furniture and premises. Vehicles. General construction liability; buildings and assets including equipment and gensets. Comprehensive insurance with excess and liability insurance. 12,139,073 4,238,642 36,740 19,088 Works of art. Theft, loss or damage. 24,757 1,665 NOTE 14: POSITIVE AND NEGATIVE CONTINGENCIES. Elements used in calculating provisions, the total or partial balances of which exceed two percent (2%) of shareholders equity: See Notes , , 22 and 25 to the individual financial statements. NOTE 15: CONTINGENCIES. Contingencies which, at the date of the financial statements, are not of remote occurrence, the effects of which have not been given accounting recognition: See Note 25 to the individual financial statements. IRREVOCABLE ADVANCES TOWARDS FUTURE SHARE SUBSCRIPTIONS. NOTE 16: Status of capitalization arrangements. None. NOTE 17: Cumulative unpaid dividends on preferred shares. None. NOTE 18: Conditions, circumstances or terms for ending restrictions on the distribution of retained earnings. See Note 4 Restrictions on the distribution of profits corresponding to the individual financial statements.

84 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 84 of 96 INFORMATIVE REVIEW AS OF DECEMBER 31, 2017 (FIGURES STATED IN THOUSANDS) Banco Galicia y Buenos Aires S.A., founded in 1905, is one of the largest private-sector banks in the Argentine financial system and a leading financial services provider in the country. As an universal bank, and through different affiliated companies and distribution channels, offers a wide range of services to individuals as well as companies, and operates one of the most extensive and diversified distribution networks among private-sector banks in Argentina, offering 574 branches as well as 83 points of contact among Regional Credit Card Companies and Compañía Financiera Argentina S.A. During FY 2017, the Bank recorded net income for $6,914,843, exceeding by $1,821,138 the income recorded as of the same date of the previous fiscal year, accounting for a 35.8% increase. The higher income compared to 2016 was, mainly, due to the $10,967,144 increase in net operating income (net financial income plus net income for services). This effect was partially offset, mainly, due to the increase in: i) administrative expenses for $5,174,291, and ii) loan loss provisions for $1,671,680. Net Operating Income for FY 2017 reached $38,576,797 with a 39.7% increase compared to the $27,609,653 recorded for the previous fiscal year. This positive evolution was due to higher net results stemming from: i) net financial income of $7,695,572, 47.9%) resulting from the increase in traded volumes during the fiscal year, accompanied by an increase in the financial margin, ii) Net income from services of $3,271,572, 28.3%), the highlight being commissions on regional credit cards and deposit accounts. Administrative loans totaled $22,148,512 with a total 30.5% increase. Personnel expenses increased by 29% mainly due to the salary increase agreed with the unions. The remaining administrative expenses totaled $10,071,940 exceeding by 32% those recorded during the previous fiscal year mainly due to higher tax, money transfers, maintenance and preservation, electricity and communication and security services expenses, as a consequence of the higher level of activity and the evolution of the costs related to the different services provided by the Bank. Loan loss provisions amounted to $5,204,993, exceeding by 47.3% those recorded during the previous fiscal year, mainly due to the evolution of individual past due loans and higher regulatory charges on the performing portfolio resulting from the increase in loans volumes. Total funding to the private sector amounted to $224,248,529 with a 42.5% increase over the last 12 months and total deposits amounted to $203,578,762(*) with a 33.9% increase compared to the previous fiscal year. As of December 31, 2017, the Bank estimated market share of private-sector loans reached del 10.11% and that of private-sector loans reached 10.29%, while a year ago they were 10.12% and del 9.96%, respectively. (*) See the "Level of Activity - Deposits" section hereof. Cash and Due from Banks Government and corporate securities KEY BALANCE SHEET FIGURES/EVOLUTION OF THE CONSOLIDATED BALANCE SHEET ,650,611 61,131,992 30,828,148 16,951,161 12,557,309 36,410,804 12,548,271 15,045,103 9,731,759 3,904,568 Loans 197,329, ,450,622 98,342,251 66,592,761 55,278,684 Other receivables resulting from financial brokerage 32,440,775 18,469,601 8,247,563 6,461,230 5,331,451 Equity Investments 179, , ,587 93, ,659 Bank premises and equipment, Miscellaneous and Intangible Assets 8,563,280 6,571,342 4,837,515 3,696,170 3,015,153 Other Assets 4,808,449 3,704,374 3,120,699 2,435,530 2,012,157 TOTAL ASSETS 336,383, ,057, ,549, ,961,642 82,216,981 Deposits 203,503, ,726, ,183,309 64,707,761 51,409,700

85 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 85 of 96 Other Liabilities Resulting from Financial Brokerage Subordinated Negotiable Obligations INFORMATIVE REVIEW AS OF DECEMBER 31, 2017 (FIGURES STATED IN THOUSANDS) 81,791,721 58,381,742 37,692,418 25,067,284 19,112,924 4,828,018 4,065,255 3,300,516 2,065,815 1,656,297 Other 8,593,880 5,627,820 4,502,377 3,477,384 2,742,452 Minority Interests 1,845,472 1,349,903 1,059, , ,772 TOTAL LIABILITIES 300,562, ,151, ,737,694 96,062,390 75,476,145 SHAREHOLDERS' EQUITY 35,820,720 18,905,877 13,812,172 9,899,252 6,740,836 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 336,383, ,057, ,549, ,961,642 82,216,981 KEY INCOME STATEMENT FIGURES EVOLUTION OF THE CONSOLIDATED INCOME STATEMENT'S KEY ITEMS Net financial income 23,761,965 16,066,393 12,223,490 9,451,149 6,916,260 Net Income from Services 14,814,832 11,543,260 8,633,382 6,334,791 4,766,219 Loan loss provisions 5,204,993 3,533,313 2,214,240 2,411,250 1,776,255 Administrative Expenses 22,148,512 16,974,221 12,449,620 8,889,893 7,196,580 NET INCOME / (LOSS) FROM FINANCIAL BROKERAGE Other Net Miscellaneous Income (*) 11,223,292 7,102,119 6,193,012 4,484,797 2,709, ,181 1,112, , , ,587 Income Tax 4,438,630 3,121,109 2,530,288 1,901,885 1,178,348 NET INCOME/(LOSS) 6,914,843 5,093,705 3,912,920 3,158,416 1,836,883 (*) Includes Income/(Loss) from Equity Investments and minority interest. CASH FLOW STRUCTURE Funds generated by (used in) Operating (1,686,830) 23,901,544 15,169,249 7,309,373 3,386,433 Activities Funds generated by (used in) Investment (1,284,364) (1,437,610) (1,080,154) (400,072) (413,949) Activities Funds generated by (used in) Financing 10,329,136 3,067,319 (1,397,863) (1,400,917) 389,041 Activities Financial Income on Cash and Cash Equivalents 4,510,617 3,867,185 6,962,304 1,608,421 1,029,534 TOTAL FUNDS GENERATED OR USED DURING THE FISCAL YEAR 11,868,559 29,398,438 19,653,536 7,116,805 4,391,059

86 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 86 of 96 INFORMATIVE REVIEW AS OF DECEMBER 31, 2017 (FIGURES STATED IN THOUSANDS) LEVEL OF ACTIVITY EXPOSURE TO THE PRIVATE SECTOR Loans 203,999, ,157, ,902,041 69,207,564 57,407,130 Receivables for financial leases 1,700, , ,862 1,065,615 1,149,804 Private sector securities 1,088,229 1,220,155 1,470, , ,868 Other Credits (*) 17,460,264 13,045,360 10,629,035 7,877,910 6,356,547 SUBTOTAL CREDIT 224,248, ,394, ,981,525 78,875,311 65,801,349 Assets Transferred to Trusts ,838 - TOTAL CREDIT 224,248, ,394, ,981,525 79,016,149 65,801,349 (*) Includes certain items included in other receivables resulting from financial brokerage, guarantees granted and unused balances of loans granted. DEPOSITS (*) Pesos - Current Accounts - Savings accounts - Time Deposits - Other 33,203,411 42,222,994 55,353,793 55,353,793 28,136,410 26,639,333 43,781,075 2,423,496 19,522,168 18,835,248 46,070,368 1,437,799 15,984,288 14,090,373 29,081, ,946 12,486,375 10,037,909 25,051, ,896 Foreign currency 70,420,178 51,066,989 14,403,405 4,840,559 3,673,908 TOTAL DEPOSITS 203,578, ,047, ,268,988 64,931,506 52,056,146 (*) Includes Bank and Compañía Financiera Argentina S.A. deposits, net of eliminations between said companies. Deposits from the remaining subsidiaries have not been eliminated. MARKET SHARE (%) (*) Total Deposits Private sector deposits Total Loans Loans to the private sector (*) Banco de Galicia and CFA in the Argentine market based on daily information of deposits and loans prepared by the Argentine Central Bank. Balances as of month end. Includes deposits and loans by C.F.A. Loans and deposits include only capital. Excluding information related to regional credit card companies. ADDITIONAL INFORMATION PHYSICAL DATA (amounts) PERSONNEL 11,231 11,538 11,780 11,727 12,347 - Banco Galicia - Regional Credit Card Companies - Cía. Financiera Argentina 6,214 3,896 1,117 5,799 4,571 1,164 5,573 5,040 1,161 5,374 5,232 1,112 5,487 5,668 1,170

87 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 87 of 96 INFORMATIVE REVIEW AS OF DECEMBER 31, 2017 (FIGURES STATED IN THOUSANDS) - Other companies BRANCHES Banco Galicia - Regional Credit Card Companies - Cía. Financiera Argentina OTHER PREMISES Regional Credit Card Companies - Cía. Financiera Argentina DEPOSIT ACCOUNTS (*) 4,560 4,018 3,593 3,006 2,768 CREDIT CARDS (*) 13,455 14,310 13,563 11,933 10,891 (*) In thousands. RATIOS LIQUIDITY (WITHOUT CONSOLIDATION) Liquid Assets (*) as a % of Transactional Deposits Liquid Assets (*) as a % of Total Deposits (*) Liquid assets include cash and due from banks, Lebac and Nobac, net call money, short term placements in correspondent banks, Argentine Central Bank, special escrow accounts and local market repurchase agreement transactions. PROFITABILITY AND EFFICIENCY Return on Average Assets (*) Return on Net Average Shareholders Equity (*) Financial Margin (*) (1) Income from services/ Operating Income (2) Income from services/ Administrative Expenses Administrative Expenses/ Operating Income (2) (*) Annualized. (1)Financial Margin: Financial Income less Financial Expenses divided by average interest-earning assets. (2)Operating Income: Net Financial Income plus Net Income from Services.

88 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 88 of 96 INFORMATIVE REVIEW AS OF DECEMBER 31, 2017 (FIGURES STATED IN THOUSANDS) CAPITALIZATION (*) Minimum Capital Requirement (A) 22,609,739 15,258,350 11,062,886 7,077,104 5,690,525 - Credit Risk - Market Risk - Operational Risk 17,263,077 1,126,159 4,220,503 11,510, ,618 3,191,931 8,368, ,078 2,398,216 5,097, ,216 1,778,996 4,327,437 57,618 1,305,470 Computable Capital (B) 29,529,369 22,009,550 14,071,044 10,132,927 7,512,978 - Level One Ordinary Capital - Level Two Ordinary Capital - Additional Computable Capital Market Variation 22,581,424 6,947,945-16,470,913 5,538,637-11,731,714 2,339,330-8,041,550 2,019,556 71,821 5,477,866 1,805, ,057 DIFFERENCE (B) (A) 6,919,630 6,751,200 3,008,158 3,055,823 1,822,453 REGULATORY RATIO (1) (*) As from December 2015, the Argentine Central Bank set forth through Communiqué A 5831 that the calculation of the minimum capital requirement for credit risk shall be estimated based on the balances as of the last day of each month. (1) Full integration / assets weighted by risk (credit, market and operational). OUTLOOK During the fourth quarter of the year two significant events determined the dynamic and course of the international markets: first, the negotiations related to the US tax reform caught most of the investors' attention, who were focused on the possible impacts of the changes introduced. Second, the main central banks (Federal Reserve, European Central Bank, Bank of Japan, Bank of England) continued to play a leading role, as each one advances towards monetary normalization at its own pace, after the great crisis of 2008 and the aggressive programs implemented in order to overcome it. Meanwhile, in terms of global activity and growth the outlook is positive and ratified by the international financial institutions. Within this context, Argentina started the year covering one third of its financing needs. As regards the foreign exchange market, within a context of increasing demand for foreign currencies, flows coming from financial issuances constitute the main offer, which conveys a moderate volatility to the exchange rate. During 2017, the monetary policy remained stringent, mainly through the interest rate levels. In this sense, we expect this policy tightening approach to continue until the disinflation path aligns with the Argentina Central Bank goals. As to taxes, after a 2017 when pluriannual and intra-annual goals set by the Ministry of Economy reflected a bigger focus on the goal of reducing public accounts deficit, we expect a year 2018 when all tax goals are met. In the short term, investment growth together with a moderate increase in actual salaries and better outlooks for exportations may foster economic growth. Within this structure, the Bank shall continue with its goal of strengthening its leading position within the market. The quality of products and services rendered to current and potential customers shall remain the main focus, as well as the ongoing process of improving operating efficiency as a key factor for creating value for customers and shareholders. Banco Galicia's business growth develops within the framework of sustainable management and to do so, the Bank shall continue to pursue new value-creation opportunities focusing on the common good and environmental protection.

89 Free translation of an original version written and expressed in Spanish. INDEPENDENT AUDITOR S REPORT To the President and Directors of Banco de Galicia y Buenos Aires S.A. Legal domicile: Tte. Gral. Juan D. Perón 430 Autonomous City of Buenos Aires C.U.I.T. N Report on the Financial Statements We have audited the accompanying financial statements of Banco de Galicia y Buenos Aires S.A. (hereinafter the Bank ), which comprise the Balance Sheet as of December 31, 2017, and the related Income Statement, Statement of Changes in Shareholders' Equity and Statement of Cash Flows and Equivalents for the fiscal year then ended, as well as a summary of significant accounting policies and other explanatory information. Furthermore, we have audited the Bank consolidated financial statements for the year ended December 31, 2017, which are presented as supplementary information. The amounts and other information for fiscal year 2016 are an integral part of the accompanying financial statements and, therefore, shall be considered in connection with those financial statements. Management s Responsibility for the financial statements The Bank's Board of Directors is responsible for the preparation and fair presentation of these financial statements in accordance with the rules prescribed by the Banco Central de la República Argentina ( the B.C.R.A. ) and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors' Responsibilities Our responsibility is to express an opinion on the accompanying financial statements based on our audit. We conducted our audit in accordance with Technical Pronouncement No. 37 of the Argentine Federation of Professional Councils in Economic Sciences (F.A.C.P.C.E.), which are in line with the auditing standards issued by the B.C.R.A. Those standards require that we comply with the ethical requirements and plan and perform the audit in order to obtain reasonable assurance about whether the financial statements are free from material misstatements. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor s judgment, including the assessment of the risk of material misstatements of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the bank s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the bank s internal control. An audit also includes evaluating the Price Waterhouse & Co. S.R.L., Bouchard 557, piso 8, C1106ABG - Ciudad de Buenos Aires Ph: +(54.11) , F: +(54.11) , Price Waterhouse & Co. S.R.L. is a company member of the PricewaterhouseCoopers International Limited (PwCIL) global network. Each company is a a separate legal entity that does not act as legal representative of PwCIL or any other network company member.

90 appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion: a) the accompanying financial statements fairly present, in all material respects, Banco de Galicia y Buenos Aires S.A. s financial condition as of December 31, 2017, and the results of its operations, the changes in shareholders equity and the cash flows for the fiscal year then ended, in accordance with the rules prescribed by the B.C.R.A.; b) the accompanying consolidated financial statements fairly present, in all material respects, Banco de Galicia y Buenos Aires S.A. s consolidated financial condition with its controlled companies as of December 31, 2017, and the consolidated results of its operations, and the consolidated cash flows for the fiscal year then ended, in accordance with rules prescribed by the B.C.R.A.; Emphasis paragraphs Accounting basis Without qualifying our opinion, as mentioned in Note 23, the financial statements have been prepared in accordance with the rules prescribed by the Argentine Central Bank. Such standards differ, in certain aspects from the GAAP in force. In such note, the Bank has identified and quantified the effect on the financial statements derived from the different valuation and disclosure criteria, except that the quantification cannot be made for unfeasibility reasons. Supplementary information on the IFRS As mentioned in Note 24 to the consolidated financial statements, the Bank is in the process of adopting the International Financial Reporting Standards (IFRS), which will be applicable to the fiscal year ending December 31, The items and figures included in the reconciliations contained in such note are subject to changes and may only be considered to be final upon the preparation of the annual financial statements as of the fiscal year in which IFRS are applicable for the first time. Price Waterhouse & Co. S.R.L., Bouchard 557, piso 8, C1106ABG - Ciudad de Buenos Aires Ph: +(54.11) , F: +(54.11) , Price Waterhouse & Co. S.R.L. is a company member of the PricewaterhouseCoopers International Limited (PwCIL) global network. Each company is a a separate legal entity that does not act as legal representative of PwCIL or any other network company member.

91 Report on the compliance of regulations in force As required by the regulations in force, we report that: a) The financial statements of Banco de Galicia y Buenos Aires S.A. as of December 31, 2017 have been transcribed to the Inventory and Balance Sheet book and, insofar as concerns our field of competence, are in compliance with the provisions of the General Corporations Law, and pertinent resolutions of the B.C.R.A. and the National Securities Commission. b) The financial statements of Banco de Galicia y Buenos Aires S.A. stem from accounting records kept, in all formal aspects, in compliance with legal regulations, which systems maintain the security and integrity conditions base on which they were authorized by the National Securities Commission; c) We have read the Informative Review, the Additional Information to the Notes to the Financial Statements required by Title IV, Chapter III, Article 12 of the Regulations of the National Securities Commission, about which, insofar as concerns our area of competence, we have no significant observations to make; d) As of December 31, 2017, Banco de Galicia y Buenos Aires S.A.'s accrued debt with the Argentine Social Security System, which stems from the accounting records, amounted to $152,461,293.50, which was not yet due at that date. e) As required by Title II, Section VI, Chapter III, Article 21, Clause b) of the regulations of the National Securities Commission, we report that the total fee billed to the Bank for professional auditing and related services in the fiscal year ended December 31, 2017, represents: e.1) 96% of total fees billed to the Bank for services in that fiscal year; e.2) 48% of total fees billed to the Bank and its controlling, controlled and related companies for auditing and related services in that fiscal year; e.3) 47% of total fees billed to the Bank and its controlling, controlled and related companies for services in that fiscal year; Price Waterhouse & Co. S.R.L., Bouchard 557, piso 8, C1106ABG - Ciudad de Buenos Aires Ph: +(54.11) , F: +(54.11) , Price Waterhouse & Co. S.R.L. is a company member of the PricewaterhouseCoopers International Limited (PwCIL) global network. Each company is a a separate legal entity that does not act as legal representative of PwCIL or any other network company member.

92 f) We have applied the procedures on money laundering and terrorism financing for Banco de Galicia y Buenos Aires S.A. set forth in the corresponding professional accounting standards issued by the Professional Council in Economic Sciences of the Autonomous City of Buenos Aires. g) We have read the information included in Note 10 to the financial statements as of December 31, 2017 with respect to the requirements established by the National Securities Commission in relation to Minimum Shareholder s Equity and Counterpart; on which, we have no material observations to make. Autonomous City of Buenos Aires, February 8, PRICE WATERHOUSE & CO. S.R.L. (Partner) C.P.C.E.C.A.B.A. Tº 1 Fº 17 Santiago J. Mignone Public Accountant (UBA) C.P.C.E.C.A.B.A. T 233 F 237 Price Waterhouse & Co. S.R.L., Bouchard 557, piso 8, C1106ABG - Ciudad de Buenos Aires Ph: +(54.11) , F: +(54.11) , Price Waterhouse & Co. S.R.L. is a company member of the PricewaterhouseCoopers International Limited (PwCIL) global network. Each company is a a separate legal entity that does not act as legal representative of PwCIL or any other network company member.