BANCO DE GALICIA Y BUENOS AIRES S.A. Page 1 of 89

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1 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 1 of 89 Q U A R T E R L Y F I N A N C I A L S T A T E M E N T S For the period from 1 January 2017 to 31 March 2017, presented in comparative format. Free translation of an original version written and expressed in Spanish. NAME: BANCO DE GALICIA Y BUENOS AIRES S.A. 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: AMENDMENT TO THE BYLAWS: and subsequent amendments, the latest being on No. 12,412 - Book 79. 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. 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 89 Q U A R T E R L Y 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 82 ADDITIONAL INFORMATION... Page 83 to 84 INFORMATIVE REVIEW.... Page 85 to 89 INDEPENDENT AUDITOR'S LIMITED REVIEW REPORT REPORT OF THE SUPERVISORY COMMITTEE

3 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 3 of 89 CONSOLIDATED BALANCE SHEET (Section 33 Law No Law No. 19,550) For the period from January 1, 2017 Supplementary Information to the Quarterly Financial Statements to March 31, 2017, presented in comparative format FIGURES STATED IN THOUSANDS OF PESOS ASSETS CASH AND DUE FROM BANKS 50,205,410 61,131,992 - CASH 13,482,213 7,456,305 - FINANCIAL INSTITUTIONS AND CORRESPONDENTS 36,723,197 53,675,687 - ARGENTINE CENTRAL BANK 35,820,707 51,389,550 - OTHER LOCAL FINANCIAL INSTITUTIONS 45, ,897 - FOREIGN 857,263 2,105,240 GOVERNMENT AND CORPORATE SECURITIES 24,423,117 12,548,271 - HOLDINGS OF GOVERNMENT SECURITIES RECORDED AT FAIR MARKET VALUE 3,548,319 3,074,883 - HOLDINGS RECORDED AT COST PLUS YIELD 1,659,921 1,922,473 - SECURITIES ISSUED BY THE ARGENTINE CENTRAL BANK 19,214,877 7,550,915 LOANS 146,438, ,450,622 - TO THE NON-FINANCIAL PUBLIC SECTOR TO THE FINANCIAL SECTOR 2,769,675 2,098,037 - INTERBANK LOANS (CALL MONEY LOANS GRANTED) 955, ,300 - OTHER FINANCING TO LOCAL FINANCIAL INSTITUTIONS 1,767,021 1,205,228 - ACCRUED INTEREST, ADJUSTMENTS AND QUOTATION DIFFERENCES RECEIVABLE 46,763 30,509 - TO THE NON-FINANCIAL PRIVATE SECTOR AND RESIDENTS ABROAD 148,834, ,059,237 - ADVANCES 8,598,590 10,063,087 - PROMISSORY NOTES 26,276,705 25,298,418 - MORTGAGE LOANS 1,971,764 2,178,236 - PLEDGE LOANS 508, ,879 - PERSONAL LOANS 17,958,115 15,311,721 - CREDIT CARD LOANS 73,408,013 72,765,948 - OTHER 18,923,574 12,653,202 - ACCRUED INTEREST, ADJUSTMENTS AND QUOTATION DIFFERENCES RECEIVABLE 1,800,660 1,774,831 - (UNALLOCATED COLLECTIONS) (12,418) (21,860) - (DOCUMENTED INTEREST) (598,784) (642,225) - ALLOWANCES (5,166,142) (4,706,758) OTHER RECEIVABLES RESULTING FROM FINANCIAL BROKERAGE 20,668,744 18,469,601 - ARGENTINE CENTRAL BANK 2,575,596 2,359,284 - AMOUNTS RECEIVABLE FOR SPOT AND FORWARD SALES TO BE SETTLED 8,828, ,375 - SECURITIES RECEIVABLE UNDER SPOT AND FORWARD PURCHASES TO BE SETTLED 4,165,610 7,851,134 - PREMIUMS FROM BOUGHT OPTIONS - 3,485 - OTHER RECEIVABLES NOT INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 3,128,978 4,610,896 -NEGOTIABLE OBLIGATIONS WITHOUT QUOTATION 657,661 1,220,155 - BALANCES FROM FORWARD TRANSACTIONS WITHOUT DELIVERY OF UNDERLYING ASSET TO BE SETTLED 127, ,287 - OTHER RECEIVABLES INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 1,365,218 1,769,308 - ACCRUED INTEREST AND ADJUSTMENTS RECEIVABLE INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS ALLOWANCES (180,841) (191,002)

4 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 4 of 89 RECEIVABLES FROM FINANCIAL LEASES 972, ,788 RECEIVABLES FROM FINANCIAL LEASES 969, ,856 - ACCRUED INTEREST AND ADJUSTMENTS RECEIVABLE 17,429 17,118 - ALLOWANCES (14,925) (14,186) EQUITY INVESTMENTS 187, ,361 - IN FINANCIAL INSTITUTIONS 7,626 7,858 - OTHER 180, ,104 - ALLOWANCES (601) (601) MISCELLANEOUS RECEIVABLES 3,372,329 2,682,267 - RECEIVABLES FOR ASSETS SOLD 120, ,650 - MINIMUM PRESUMED INCOME TAX - TAX CREDIT 9,424 9,424 - OTHER 3,278,242 2,559,874 - ACCRUED INTEREST ON AND ADJUSTMENTS TO RECEIVABLES FOR ASSETS SOLD 3,353 1,626 - OTHER ACCRUED INTEREST AND ADJUSTMENTS RECEIVABLE 8,019 28,959 - ALLOWANCES (46,872) (43,266) BANK PREMISES AND EQUIPMENT 3,057,025 2,809,289 MISCELLANEOUS ASSETS 1,285,593 1,218,852 INTANGIBLE ASSETS 2,633,661 2,543,201 - ORGANIZATION AND DEVELOPMENT EXPENSES 2,633,661 2,543,201 UNALLOCATED ITEMS 56,211 64,319 TOTAL ASSETS 253,299, ,057,563

5 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 5 of 89 LIABILITIES DEPOSITS 158,684, ,726,966 - NON-FINANCIAL PUBLIC SECTOR 1,451,992 1,294,177 - FINANCIAL SECTOR 27,161 62,957 - NON-FINANCIAL PRIVATE SECTOR AND RESIDENTS ABROAD 157,205, ,369,832 - CURRENT ACCOUNTS 26,733,358 26,995,121 - SAVINGS ACCOUNTS 49,704,353 53,728,361 - TIME DEPOSITS 61,790,410 49,713,710 - INVESTMENT ACCOUNTS 412, ,665 - OTHER 17,510,668 18,577,409 - ACCRUED INTEREST, ADJUSTMENTS AND QUOTATION DIFFERENCES PAYABLE 1,054, ,566 OTHER LIABILITIES RESULTING FROM FINANCIAL BROKERAGE 62,585,755 58,381,742 - ARGENTINE CENTRAL BANK 12,849 12,727 - OTHER 12,849 12,727 - BANKS AND INTERNATIONAL ENTITIES 2,195,433 2,212,995 - UNSUBORDINATED NEGOTIABLE OBLIGATIONS 14,160,662 13,273,470 - AMOUNTS PAYABLE FOR SPOT AND FORWARD PURCHASES TO BE SETTLED 4,164,151 7,818,144 - SECURITIES TO BE DELIVERED UNDER SPOT AND FORWARD SALES TO BE SETTLED (SCHEDULE O) 9,562, ,819 - PREMIUMS FROM WRITTEN OPTIONS - 2,027 - FINANCING FROM LOCAL FINANCIAL INSTITUTIONS 4,817,732 4,095,357 - INTERBANK LOANS (CALL MONEY LOANS RECEIVED) - 165,000 - OTHER FINANCING FROM LOCAL FINANCIAL INSTITUTIONS 4,658,007 3,800,394 - ACCRUED INTEREST PAYABLE 159, ,963 - BALANCES FROM FORWARD TRANSACTIONS WITHOUT DELIVERY OF UNDERLYING ASSET TO BE SETTLED 47, ,013 - OTHER 27,131,132 29,717,439 - ACCRUED INTEREST, ADJUSTMENTS AND QUOTATION DIFFERENCES PAYABLE 493, ,751 MISCELLANEOUS LIABILITIES 5,855,385 5,233,057 - DIVIDENDS PAYABLE 7, DIRECTORS' AND SYNDICS' FEES 41,574 40,446 - OTHER 5,806,311 5,192,611 PROVISIONS 436, ,354 SUBORDINATED NEGOTIABLE OBLIGATIONS 3,864,720 4,065,255 UNALLOCATED ITEMS 37,224 42,408 MINORITY INTERESTS 1,449,736 1,349,903 TOTAL LIABILITIES 232,914, ,151,685 SHAREHOLDERS' EQUITY 20,385,740 18,905,878 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 253,299, ,057,563

6 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 6 of 89 MEMORANDUM ACCOUNTS DEBIT 503,841, ,740,719 CONTINGENT 37,178,317 38,610,674 - LOANS OBTAINED (UNUSED BALANCES) 477, ,794 - GUARANTEES RECEIVED 24,496,083 25,370,435 - CONTINGENT RE. CONTRA ITEMS 12,204,879 12,640,445 CONTROL 429,596, ,926,662 - UNCOLLECTIBLE LOANS 3,148,530 3,347,678 - OTHER 423,654, ,972,028 - CONTROL - RE. CONTRA ITEMS 2,793,906 2,606,956 DERIVATIVES 29,309,780 29,020,684 - "NOTIONAL" VALUE OF PUT OPTIONS BOUGHT - 149,512 - "NOTIONAL" VALUE OF FORWARD TRANSACTIONS WITHOUT DELIVERY OF UNDERLYING ASSET 15,989,467 16,359,075 - INTEREST RATE SWAPS 75,000 75,000 - DERIVATIVES - RE. CONTRA ITEMS 13,245,313 12,437,097 TRUST ACCOUNTS 7,756,624 8,182,699 - TRUST FUNDS 7,756,624 8,182,699 CREDIT 503,841, ,740,719 CONTINGENT 37,178,317 38,610,674 - LOANS GRANTED - UNUSED BALANCES - INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 8,762,293 9,094,205 - GUARANTEES GRANTED TO THE ARGENTINE CENTRAL BANK - 473,528 - OTHER GUARANTEES GRANTED INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 1,164,564 1,134,828 - OTHER GUARANTEES GRANTED NOT INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 282, ,695 - OTHER INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 1,297,819 1,236,641 - OTHER NOT INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 697, ,548 - CONTINGENT - RE. CONTRA ITEMS 24,973,438 25,970,229 CONTROL 429,596, ,926,662 - CHECKS AND DRAFTS TO BE CREDITED 2,781,387 2,559,608 - OTHER 12,519 47,348 - CONTROL - RE. CONTRA ITEMS 426,802, ,319,706 DERIVATIVES 29,309,780 29,020,684 - "NOTIONAL" VALUE OF CALL OPTIONS WRITTEN - 174,663 - "NOTIONAL" VALUE OF FORWARD TRANSACTIONS WITHOUT DELIVERY OF UNDERLYING ASSET 13,245,313 12,262,434 - DERIVATIVES - RE. CONTRA ITEMS 16,064,467 16,583,587 TRUST ACCOUNTS 7,756,624 8,182,699 - TRUST LIABILITIES - RE. CONTRA ITEMS 7,756,624 8,182,699

7 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 7 of 89 CONSOLIDATED INCOME STATEMENT (Section 33 - Law No Law No. 19,550) For the period from January 1, 2017 Supplementary Information to the Quarterly Financial Statements FIGURES STATED IN THOUSANDS OF PESOS to March 31, 2017, presented in comparative format FINANCIAL INCOME 9,901,133 8,694,071 - INTEREST ON CASH AND DUE FROM BANKS INTEREST ON LOANS GRANTED TO THE FINANCIAL SECTOR 114,840 63,581 - INTEREST ON ADVANCES 655, ,394 - INTEREST ON PROMISSORY NOTES 1,407,247 1,656,979 - INTEREST ON MORTGAGE LOANS 82, ,421 - INTEREST ON PLEDGE LOANS 22,208 22,520 - INTEREST ON CREDIT CARD LOANS 3,822,897 2,949,967 - INTEREST ON FINANCIAL LEASES 68,365 74,869 - INTEREST ON OTHER LOANS 1,863,176 1,081,061 - NET INCOME FROM GOVERNMENT AND CORPORATE SECURITIES 998,580 1,342,833 - INTEREST ON OTHER RECEIVABLES RESULTING FROM FINANCIAL BROKERAGE 3,889 12,209 - NET INCOME FROM SECURED LOANS-DECREE No. 1387/01 1, CER ADJUSTMENT 10, OTHER 378, ,268 - QUOTATION DIFFERENCES ON GOLD AND FOREIGN CURRENCY 472, ,947 FINANCIAL EXPENSES 5,101,351 5,104,680 - INTEREST ON SAVINGS ACCOUNT DEPOSITS 1,510 1,007 - INTEREST ON TIME DEPOSITS 2,693,758 3,467,982 - INTEREST ON SUBORDINATED OBLIGATIONS 80, ,762 - OTHER INTEREST 36,124 11,512 - INTEREST ON INTERBANK LOANS RECEIVED (CALL MONEY LOANS) 13,666 15,416 - INTEREST ON OTHER FINANCING FROM FINANCIAL INSTITUTIONS 120,804 28,658 - NET LOSS FROM OPTIONS 1,458 18,888 - INTEREST ON OTHER LIABILITIES RESULTING FROM FINANCIAL BROKERAGE 813, ,183 - CONTRIBUTIONS TO THE DEPOSIT INSURANCE FUND 64, ,899 - CER ADJUSTMENT 4, OTHER 1,271, ,989 GROSS FINANCIAL MARGIN 4,799,782 3,589,391 LOAN LOSS PROVISION 1,156, ,563 INCOME FROM SERVICES 4,991,398 3,499,729 - IN RELATION TO LENDING TRANSACTIONS 808, ,277 - IN RELATION TO BORROWING TRANSACTIONS 787, ,157 - OTHER COMMISSIONS 231, ,592 - OTHER 3,164,321 2,175,703 EXPENSES FOR SERVICES 1,383,713 1,111,817 - COMMISSIONS 565, ,284 - OTHER 818, ,533 ADMINISTRATIVE EXPENSES 4,931,899 3,647,107 - PERSONNEL EXPENSES 2,756,788 2,014,331 - DIRECTORS' AND SYNDICS' FEES 19,073 14,905

8 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 8 of 89 CONSOLIDATED INCOME STATEMENT (Section 33 - Law No Law No. 19,550) For the period from January 1, 2017 Supplementary Information to the Quarterly Financial Statements FIGURES STATED IN THOUSANDS OF PESOS to March 31, 2017, presented in comparative format OTHER FEES 111,208 83,390 - ADVERTISING AND PUBLICITY 156, ,691 - TAXES 489, ,308 - DEPRECIATION OF PREMISES AND EQUIPMENT 91,385 60,030 - AMORTIZATION OF ORGANIZATION EXPENSES 163, ,471 - OTHER OPERATING EXPENSES 634, ,594 - OTHER 509, ,387 NET INCOME / (LOSS) FROM FINANCIAL BROKERAGE 2,318,803 1,712,633 MINORITY INTERESTS RESULTS (155,742) (99,105) MISCELLANEOUS INCOME 330, ,443 - INCOME FROM EQUITY INVESTMENTS 22,922 26,749 - DEFAULT INTERESTS 136,946 96,553 - LOANS RECOVERED AND ALLOWANCES REVERSED 113,609 60,700 - OTHER 56, ,441 MISCELLANEOUS LOSSES 126, ,417 - DEFAULT INTEREST AND CHARGES IN FAVOR OF THE ARGENTINE CENTRAL BANK LOAN LOSS PROVISIONS FOR MISCELLANEOUS RECEIVABLES AND OTHER PROVISIONS 22,302 56,627 - OTHER 93,661 45,671 - DEPRECIATION OF AND LOSSES ON MISCELLANEOUS ASSETS AMORTIZATION OF DIFFERENCES ARISING FROM COURT RESOLUTIONS 9,871 4,837 NET INCOME / (LOSS) BEFORE INCOME TAX 2,367,218 1,827,554 INCOME TAX 887, ,329 NET INCOME / (LOSS) FOR THE PERIOD 1,479,862 1,146,225

9 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 9 of 89 CONSOLIDATES STATEMENT OF CASH FLOWS (Section. 33 Law No Law No. 19,550) For the period from January 1, 2017 Supplementary Information to the Quarterly Financial Statements FIGURES STATED IN THOUSANDS OF PESOS to March 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 Period End 72,338,640 43,308,440 Net increase in Cash (in constant currency) 572, ,709 CAUSES OF CHANGES IN CASH (IN CONSTANT CURRENCY) Operating Activities Net Collections / (Payments) Related to: - Government and Corporate Securities 1,350,839 (549,535) - Loans - To the Financial Sector (463,207) (513) - To the Non-Financial Public Sector 1, To the Non-Financial Private Sector and Residents Abroad (1,563,437) 1,934,208 - Other Receivables Resulting from Financial Brokerage 718,771 (128,127) - Receivables from financial leases 53, ,217 - Deposits - To the Financial Sector (35,796) (3,988) - To the Non-Financial Public Sector 157,815 2,721,392 - To the Non-Financial Private Sector and Residents Abroad 5,576,845 (51,700) - Other Liabilities Resulting from Financial Brokerage - Financing from the Financial Sector - Interbank Loans (Call Money Loans Received) (178,666) 285,900 - Others (Except those Liabilities Included in Financial Activities) (1,987,604) (1,592,079) Collections Related to Income from Services 4,991,398 3,499,729 Payments Related to Expenses for Services (1,367,110) (1,090,142) Administrative Expenses Paid (4,668,098) (3,374,248) Payment Related to Organization and Development Expenses (255,780) (268,440) Net Collections / (Payments) Related to Default Interest 136,865 96,553 Differences Deriving from Court Resolutions Paid (9,871) (4,837) Collection Related to Dividends from Other Companies 12, Other Collections / (Payments) Related to Miscellaneous Profits and Losses (29,523) 62,150 Net Collections / (Payments) Related to Other Operating Activities - To Other Receivables and Miscellaneous Liabilities (1,649,596) (1,665,958)

10 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 10 of 89 CONSOLIDATES STATEMENT OF CASH FLOWS (Section. 33 Law No Law No. 19,550) For the period from January 1, 2017 Supplementary Information to the Quarterly Financial Statements FIGURES STATED IN THOUSANDS OF PESOS to March 31, 2017, presented in comparative format To Other Net Operating Activities 279,798 (206,211) Payment of the Income Tax / Minimum Presumed Income Tax (473,329) (408,397) Net Cash Flow Provided by / (Used in) Operating Activities 597,418 (593,646) Investment Activities Net Collections/ (Payments) Related to Bank Premises and Equipment (279,942) (112,796) Net Collections/ (Payments) Related to Miscellaneous Assets (112,060) (75,704) Collections of Equity Investments Sold 75,459 - Other Collections/ (Payments) for Investment Activities - Other (10,051) - Net Cash Flow (Used in) Investment Activities (326,594) (188,500) Financing Activities Net Collections / (Payments) Related to: - Unsubordinated Negotiable Obligations 669,631 (345,347) -Argentine Central Bank - Other Banks and International Entities 42,541 (130,327) - Subordinated Obligations (163,522) (188,931) - Loans from Local Financial Institutions 816, ,670 Net Cash Flow Provided by / (Used in) Financing Activities Financial Income on Cash and Cash Equivalents (Including Interest and the Monetary Loss) Net Increase in Cash 1,365,343 (191,651) (1,063,696) 1,914, , ,709

11 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 11 of 89 CONSOLIDATED STATEMENT OF DEBTORS STATUS (Section 33 Law No.19,550) For the period from January 1, 2017 to March 31, 2017, presented in comparative format Supplementary Information to the Quarterly Financial Statements FIGURES STATED IN THOUSANDS OF PESOS COMMERCIAL PORTFOLIO Normal 60,346,622 55,785,733 With "A" Preferred Collateral and Counter-guarantees 51, ,608 With "B" Preferred Collateral and Counter-guarantees 2,783,635 2,787,547 Without Preferred Collateral or Counter-guarantees 57,511,899 52,880,578 With special follow-up - Under observation 177, ,037 With "B" Preferred Collateral and Counter-guarantees 29,394 50,931 Without Preferred Collateral or Counter-guarantees 148,009 73,106 With problems 76,737 75,354 With "B" Preferred Collateral and Counter-guarantees 36,161 39,697 Without Preferred Collateral or Counter-guarantees 40,576 35,657 High risk of insolvency 118,025 91,686 With "A" Preferred Collateral and Counter-guarantees With "B" Preferred Collateral and Counter-guarantees 31,830 29,696 Without Preferred Collateral or Counter-guarantees 85,995 61,595 Uncollectible 16,357 16,989 With "B" Preferred Collateral and Counter-guarantees Without Preferred Collateral or Counter-guarantees 16,357 16,740 Total commercial portfolio 60,735,144 56,093,799 CONSUMER AND HOUSING PORTFOLIO Normal Situation 97,301,930 94,438,835 With "A" Preferred Collateral and Counter-guarantees 13,232 19,119 With "B" Preferred Collateral and Counter-guarantees 1,490,260 1,318,010 Without Preferred Collateral or Counter-guarantees 95,798,438 93,101,706 Low risk 2,932,997 2,621,212 With "A" Preferred Collateral and Counter-guarantees With "B" Preferred Collateral and Counter-guarantees 15,570 17,422 Without Preferred Collateral or Counter-guarantees 2,916,867 2,603,777 Medium risk 1,750,668 1,700,581 With "B" Preferred Collateral and Counter-guarantees 5,427 12,269 Without Preferred Collateral or Counter-guarantees 1,745,241 1,688,312 High risk 2,318,628 2,005,901 With "B" Preferred Collateral and Counter-guarantees 16,650 10,085 Without Preferred Collateral or Counter-guarantees 2,301,978 1,995,816 Uncollectible 916, ,958 With "A" Preferred Collateral and Counter-guarantees With "B" Preferred Collateral and Counter-guarantees 3,862 5,020 Without Preferred Collateral or Counter-guarantees 912, ,666 Uncollectible due to technical reasons 7,567 7,160 Without Preferred Collateral or Counter-guarantees 7,567 7,160 Total consumer and housing portfolio 105,228, ,618,647 General Total 165,963, ,712,446

12 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 12 of 89 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS WITH CONTROLLED PARTIES (SEC. 33 OF LAW NO ) FOR THE PERIOD FROM JANUARY 1, 2017, TO MARCH 31, 2017, PRESENTED IN COMPARATIVE FORMAT 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 item 1.3. 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 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. Ordinary(*) 829,886, ,886, Galicia Valores S.A. Ordinary 999, , Tarjetas Cuyanas S.A. Ordinary(**) 2,489,628 2,489, Tarjeta Naranja S.A. Ordinary(**) 1,848 1, Tarjetas del Mar S.A. (1) Ordinary(**) - 4,784, Cobranzas Regionales S.A. Ordinary(***) 7,700 7, Compañía Financiera Argentina S.A. (2) Ordinary 540,835, ,835, Cobranzas y Servicios S.A. (3) Ordinary 475, , Procesadora Regional S.A. Ordinary 12,709,967 12,709, (1) 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. (2)and(3) On January 12, 2017 the Bank Board of Directors has decided to accept an offer for the purchase of all shares held in Compañía Financiera Argentina S.A. and Cobranzas y Servicios S.A. by Mr. Julio Alfredo Fraomeni and Galeno Capital S.A.U. Closing is contingent upon the compliance of the offer terms and conditions, among them, approval by the Argentine Central Bank. (See note to the individual financial statements). (*) Ordinary A and B (**) face value of 10 (***) face value of 100

13 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 13 of 89 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS WITH CONTROLLED PARTIES (SEC. 33 OF LAW NO ) FOR THE PERIOD FROM JANUARY 1, 2017, TO MARCH 31, 2017, PRESENTED IN COMPARATIVE FORMAT Issuing Assets Liabilities Shareholders' Equity Results Company Tarjetas Regionales S.A. 6,786,855 6,097,436 12,816 15,175 6,774,039 6,082, , ,333 Galicia Valores S.A. 95,845 89,004 7,039 6,268 88,806 82,736 6,071 7,016 Tarjetas del Mar S.A. - 1,296,643-1,138, ,161-34,208 Tarjeta Naranja S.A. 24,042,093 24,997,877 19,114,367 20,316,446 4,927,726 4,681, , ,830 Tarjetas Cuyanas S.A. 5,572,806 5,592,813 4,537,063 4,641,761 1,035, ,052 84,691 62,094 Cobranzas Regionales S.A. 68,017 61,374 36,491 31,082 31,526 30,292 1,234 1,177 Compañía Financiera Argentina S.A. 6,399,130 5,893,851 5,352,987 4,678,351 1,046,143 1,215,500 80,643 52,939 Cobranzas y Servicios S.A. 33,634 27,508 24,521 18,855 9,113 8, ,393 Procesadora Regional S.A. 22,153 22,404 6,175 7,439 15,978 14,965 1, 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 March 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., Tarjetas Cuyanas S.A., Cobranzas Regionales S.A. and Procesadora Regional S.A. The percentages directly held in those companies' capital stock are as follows: March 2017 December 2016 Directly and indirectly held Tarjetas Cuyanas S.A. 77% 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: March 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

14 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 14 of 89 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS WITH CONTROLLED PARTIES (SEC. 33 OF LAW NO ) FOR THE PERIOD FROM JANUARY 1, 2017, TO MARCH 31, 2017, PRESENTED IN COMPARATIVE FORMAT 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: - Galicia Valores S.A - Mercado de Valores de Buenos Aires Share $ 2,150 - Liquid matching entry required to operate as CNV agents $ 3,800 - Tarjetas Cuyanas S.A. - Collateral in relation to real state lease agreements $ 1,613 - Tarjeta Naranja S.A. - Attachments related to lawsuits $ Collateral in relation to real state lease agreements $ 2,644 On the other hand, based on agreements subscribed with financial institutions, and as guarantees for credits received and for the issuance of negotiable obligations, the Company agreed not to dispose of its assets nor to create any levy on these, for an amount exceeding 25% of assets. It is worth mentioning that these restrictions do not apply to transactions carried out during the ordinary course of business. - Compañía Financiera Argentina S.A: - For credit and debit card transactions $ 14,593 - For attachments $ Special escrow accounts with the Argentine Central Bank as guarantees for transactions involving electronic clearing house $ 37,718 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 March 31, 2017 amounts to $ 63,274, while as of December 31, 2016 it amounted to $ 189,713. 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 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 US$ 650,000 TYPE OF NEGOTIABLE OBLIGATION Ordinary, nonconvertible into shares PROGRAM'S TERM DATE OF APPROVAL BY THE SHAREHOLDERS' MEETING 5 years CNV APPROVAL 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, 2015.

15 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 15 of 89 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS WITH CONTROLLED PARTIES (SEC. 33 OF LAW NO ) FOR THE PERIOD FROM JANUARY 1, 2017, TO MARCH 31, 2017, PRESENTED IN COMPARATIVE FORMAT As of period/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 $ 33,500 $ 129, $ XXIX $ 334, $ XXX $ 400, $ XXXI $ 370, $ XXXII $ 260, $ $ $ $ $ $ XXXIII Series I XXXIII Series II XXXIV Series I XXXIV Series II XXXV Series I XXXV Series II $ 133,092 $ 366,908 $ 124,603 $ 475,397 $ 225,611 $ 774,389 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 2,192 days 1,096 days 731 days 731 days 731 days 548 days 639 days 548 days 1,095 days 548 days 1,461 days 546 days 1,461 days Fixed. 9% NAR Variable BADLAR + 5% Variable BADLAR % Mixed 27.75% / BADLAR % Mixed 27.75% / BADLAR % Mixed 27% / BADLAR % Variable BADLAR % Minimum rate 37% / BADLAR % Minimum rate 37% / BADLAR % Minimum rate 32% / BADLAR % Minimum rate 32% / BADLAR % Minimum rate 26% / BADLAR % Minimum rate 26% / BADLAR % ,073, , , , , , , , , , , , , , , , , , , , , , ,389

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 PERIOD FROM JANUARY 1, 2017, TO MARCH 31, 2017, PRESENTED IN COMPARATIVE FORMAT XXXVI Series I XXXVI Series II $ 210,571 $ 636,409 Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares 547 days 1,095 days Minimum rate 25.25% / BADLAR % Minimum rate 25.25% / BADLAR % (*) Corresponds to the principal amount outstanding as of the indicated dates , , , ,409 As of the date of these financial statements, Negotiable Obligations Class XXIX and Class XXXI were settled. On April 11, 2017 the Company issued and placed Class XXXVII Negotiable Obligations for a total of peso-linked US$ 250,000. This issuance shall be settled in US dollars for a total of $ 3,845,700 in 3 annual, equal, consecutive installments, to be paid on April of 2020, 2021 and 2022, which shall have a 5-year term and accrue interest at a rate equal to Badlar + a 3.50 % margin (with a minimum interest rate of 15% NAR), which shall be payable on a quarterly basis. Tarjetas Cuyanas S.A. 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 ratified on and APPROVED THE Furthermore, in compliance with Section 32 of Chapter XI of that resolution, as depository of the mutual funds "FIMA ACCIONES", "FIMA P.B. Resolution No.16,328 dated and Resolution No.17,072 dated Placement date Within said program and as of period/fiscal year end, the Bank has the following negotiable obligations outstanding: Currency Class Number Amount Type Term Due date Rate Issue authorized by the CNV on Book Value (*) (in thousands of Pesos) $ XIX Series II $ 75, $ XXI $ 232, $ XXII $ 300, $ XXIII $ 242, $ XXIV Series I $ 65,691 Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares 731 days 550 days 547 days 549 days 549 days Variable BADLAR % Variable BADLAR % Variable BADLAR % Variable BADLAR % Variable BADLAR % , , , , , , ,799 67,832

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 PERIOD FROM JANUARY 1, 2017, TO MARCH 31, 2017, PRESENTED IN COMPARATIVE FORMAT XXIV Series II $ 234, $ XXV $ 400, $ $ $ XXVI Series I XXVI Series II XXVII Series II $ 149,763 $ 350,237 $ 500,000 Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares 1,095 days 1,461 days 547 days 1,461 days 1,095 days Variable BADLAR % Variable BADLAR % Variable BADLAR % Variable BADLAR % Variable BADLAR % (*) Corresponds to the principal and interest amount outstanding as of the indicated dates , , , , , , , , ,834 - On April 7, 2017 the Board of Directors approved the issuance of Negotiable Obligations Class XXVIII for a maximum global face value of up to $ 500,000. As of the date of these Financial Statements the issuance process has not finished. 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 period/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 $ 249,000 Ordinary, nonconvertible into shares 21 months Fixed 27.24% until the 9th month, then Variable BADLAR+ 4.25% ,636

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 PERIOD FROM JANUARY 1, 2017, TO MARCH 31, 2017, PRESENTED IN COMPARATIVE FORMAT XV Single Series XVI Single Series $ 210,000 $ 300,000 Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares 21 months 21 months Fixed 27.99% until the 9th month, then Variable BADLAR+ 4.50% Variable BADLAR+ 4.50% , , , , $ XVII Series I $ 58,333 Ordinary, nonconvertible into shares 18 months Minimum fixed of 36% until the 3rd month, then Variable BADLAR + 4% ,448 67, $ $ XVII Series II XVIII Single Series $287,500 $ 350,000 Ordinary, nonconvertible into shares Ordinary, nonconvertible into shares 36 months 18 months Minimum fixed of 36% until the 6th month, then Variable BADLAR % Minimum fixed of 29.50% until the 3rd month, then Variable BADLAR % (*) Corresponds to the principal and interest amount outstanding as of the indicated dates. As of the date of these financial statements, Negotiable Obligations Class XV Single series were settled. 3. Tarjetas del Mar S.A , , , ,384 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 TYPE OF NEGOTIABLE OBLIGATION PROGRAM'S TERM DATE OF APPROVAL BY THE SHAREHOLDERS' MEETING APPROVED BY THE CNV US$ 75,000 Ordinary, nonconvertible into shares 5 years Resolution No.17,969 dated Within this program, the Company has, at fiscal year end, the following negotiable obligations outstanding:

19 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 19 of 89 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS WITH CONTROLLED PARTIES (SEC. 33 OF LAW NO ) FOR THE PERIOD FROM JANUARY 1, 2017, TO MARCH 31, 2017, PRESENTED IN COMPARATIVE FORMAT Placement date Currency Class Number Amount Type Term Due date Rate Issue authorized by the CNV on Book Value (*) (in thousands of Pesos) $ I $ 150,000 Ordinary, nonconvertible into shares 18 months Variable BADLAR + 4.5% ,032 (*) Corresponds to the principal and interest amount outstanding as of the stated date. 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 purchase and 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 XIII, as well as in certain financial loan agreements, 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. In addition, the Ordinary Meeting of Shareholders, held on March 28, 2017, approved a distribution of dividends in cash for $ 250,000, ad referendum the approval of the Argentina Central Bank. NOTE 8 - MINIMUM PRESUMED INCOME TAX In addition to what is stated in note 2, item to the individual financial statements, as of March 31, 2017 and December 31, 2016 controlled companies record under assets a Minimum Presumed Income Tax for $ 9,424.

20 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 20 of 89 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS WITH CONTROLLED PARTIES (SEC. 33 OF LAW NO ) FOR THE PERIOD FROM JANUARY 1, 2017, TO MARCH 31, 2017, PRESENTED IN COMPARATIVE FORMAT NOTE 9- BREAKDOWN OF "OTHER" ITEMS IN THE CONSOLIDATED BALANCE SHEET -ASSETS -OTHER RECEIVABLES RESULTING FROM FINANCIAL BROKERAGE -OTHERS NOT INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 3,128,978 4,610,896 Participation certificates and debt securities in financial trusts without quotation 1,724,325 1,641,314 N.O. purchased Own issuance 432, ,155 Mutual funds without quotation 971,988 2,044,177 Other - 1,250 -MISCELLANEOUS RECEIVABLES 3,278,242 2,559,874 Sundry debtors 514, ,657 Guarantee deposits 1,271,998 1,536,664 Payments in advance 511, ,814 Tax prepayments 938, ,421 Other 41,447 43,318 -LIABILITIES -OTHER LIABILITIES RESULTING FROM FINANCIAL BROKERAGE - OTHER 27,131,132 29,717,439 Collections on behalf of third parties and other liabilities 3,732,960 3,220,207 Liabilities for financing of purchases 18,622,639 20,812,777 Other withholdings and collections 1,314,077 1,518,962 Our accounts in correspondent Banks 519,276 1,142,363 Liabilities subject to Minimum Cash Requirements 280, ,641 Sundry not subject to Minimum Cash Requirements 2,284,387 2,362,934 Accrued commissions payable 122, ,503 Other 254, ,052 -MISCELLANEOUS LIABILITIES 5,806,311 5,192,611 Sundry creditors 1,326,657 1,079,683 Taxes payable 3,151,409 2,579,688 Salaries and social security contributions payable 867,648 1,118,134 Other 460, ,106 -MEMORANDUM ACCOUNTS - DEBIT -CONTROL - OTHER 423,654, ,972,028 Securities held in custody 379,924, ,872,060 Bills for collection 17,293,401 18,309,418 Guarantee agent activities 22,774,655 23,468,166 Other 3,661,605 4,322,384 -CONSOLIDATED INCOME STATEMENT FINANCIAL EXPENSES 1,271, ,989 Turnover tax 819, ,955 Premiums for repo transactions 103,030 14,034 Adjustment on forward transactions in ME settled in pesos 334,748 - Other 14, INCOME FROM SERVICES 3,164,321 2,175,703 Fees earned on credit cards 2,121,588 1,418,347 Fees earned on life insurance policies 220, ,243

21 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 21 of 89 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS WITH CONTROLLED PARTIES (SEC. 33 OF LAW NO ) FOR THE PERIOD FROM JANUARY 1, 2017, TO MARCH 31, 2017, PRESENTED IN COMPARATIVE FORMAT Other 822, ,113 -EXPENSES FOR SERVICES 818, ,533 Turnover taxes 278, ,237 Linked to credit cards 291, ,734 Other 248, ,562 -MISCELLANEOUS INCOME 56, ,441 Rentals 1,313 1,270 Adjustments and interest on miscellaneous receivables 45,600 83,138 Income for lawsuits 6,308 5,944 Other 3,744 47,089 -MISCELLANEOUS LOSSES 93,661 45,671 Claims 23,569 9,820 Donations 9,300 6,215 Turnover tax 27,519 4,656 Other 33,273 24,980 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 $ 14,461. 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. NOTE 11 - SUBSEQUENT EVENTS Tarjetas Regionales S.A. In April 2017, the Ordinary and Extraordinary Meeting of Shareholders approved a distribution of dividends in cash for $ 389,147.

22 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 22 of 89 NAME OF CERTIFYING AUDITOR: SANTIAGO J. MIGNONE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM: LIMITED REVIEW REPORT WITH CONCLUSION WITHOUT QUALIFICATIONS FOR THE QUARTER ENDED (Code 008) BALANCE SHEET For the period from January 1, 2017 FIGURES STATED IN THOUSANDS OF PESOS to March 31, 2017, presented in comparative format ASSETS A. CASH AND DUE FROM BANKS - CASH 49,603,464 13,078,682 60,418,326 7,060,409 - FINANCIAL INSTITUTIONS AND CORRESPONDENTS 36,524,782 53,357,917 - ARGENTINE CENTRAL BANK 35,675,490 51,124,620 - OTHER LOCAL FINANCIAL INSTITUTIONS ,355 - FOREIGN 849,162 2,096,942 B. GOVERNMENT AND CORPORATE SECURITIES (SCHEDULE A AND NOTE 2 ITEM ) - HOLDINGS OF GOVERNMENT SECURITIES RECORDED AT FAIR MARKET VALUE 24,404,359 3,548,319 12,504,569 3,074,883 - HOLDINGS RECORDED AT COST PLUS YIELD 1,659,921 1,922,473 - SECURITIES ISSUED BY THE ARGENTINE CENTRAL BANK (NOTE 21) 19,196,119 7,507,213 C. LOANS (SCHEDULES B, C, D, N AND NOTE 16) 114,455, ,343,716 - TO THE NON-FINANCIAL PUBLIC SECTOR TO THE FINANCIAL SECTOR 3,499,618 2,774,592 - INTERBANK LOANS (CALL LOANS GRANTED) (NOTE 21) 1,185, ,300 - OTHER FINANCING TO LOCAL FINANCIAL INSTITUTIONS 2,250,802 1,870,799 - ACCRUED INTEREST, ADJUSTMENTS AND QUOTATION DIFFERENCES RECEIVABLE 62,925 41,493 - TO THE NON-FINANCIAL PRIVATE SECTOR AND RESIDENTS ABROAD 113,417, ,756,067 - ADVANCES 8,567,728 10,177,452 - PROMISSORY NOTES 26,384,118 25,415,263 - MORTGAGE LOANS 1,971,764 2,178,236 - PLEDGE LOANS 508, ,879 - PERSONAL LOANS 11,891,742 10,091,976 - CREDIT CARD LOANS 44,182,871 42,599,370 - OTHER (NOTE 21) 18,903,574 12,649,028 - ACCRUED INTEREST, ADJUSTMENTS AND QUOTATION DIFFERENCES RECEIVABLE 1,623,703 1,635,932 - (UNALLOCATED COLLECTIONS) (12,418) (21,860) - (DOCUMENTED INTEREST) (603,570) (647,209) - ALLOWANCES (SCHEDULE J) (2,462,546) (2,187,049) D. OTHER RECEIVABLES RESULTING FROM FINANCIAL BROKERAGE (SCHEDULES B, C, D, N, AND NOTE 2 ITEMS , , AND NOTE 16) 19,725,103 16,434,235 - ARGENTINE CENTRAL BANK 2,537,878 2,328,636 - AMOUNTS RECEIVABLE FOR SPOT AND FORWARD SALES TO BE SETTLED (NOTE 21) 8,828, ,375 - SECURITIES RECEIVABLE UNDER SPOT AND FORWARD PURCHASES TO BE SETTLED 4,165,610 7,713,469 - PREMIUMS FROM BOUGHT OPTIONS - 3,485 - OTHER RECEIVABLES NOT INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 1,801,011 1,738,107 - NEGOTIABLE OBLIGATIONS WITHOUT QUOTATION 927,817 1,962,926 - BALANCES FROM FORWARD TRANSACTIONS WITHOUT DELIVERY OF UNDERLYING ASSET TO BE SETTLED 127, ,287 - OTHER RECEIVABLES INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS 1,505,055 2,023,873 - ACCRUED INTEREST AND ADJUSTMENTS RECEIVABLE INCLUDED IN THE DEBTOR CLASSIFICATION REGULATIONS ALLOWANCES (SCHEDULE J) (168,790) (182,371)

23 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 23 of 89 E. RECEIVABLES FROM FINANCIAL LEASES (SCHEDULES B, C, D, N, NOTE 2 ITEM AND NOTE 16) RECEIVABLES FROM FINANCIAL LEASES 1,184,232 1,178,257 1,175,714 1,169,259 - ACCRUED INTEREST AND ADJUSTMENTS RECEIVABLE 20,900 20,641 - ALLOWANCES (SCHEDULE J) (14,925) (14,186) F. EQUITY INVESTMENTS (SCHEDULE E, N, NOTE 2 ITEM AND NOTE 14) - IN FINANCIAL INSTITUTIONS 5,959,174 1,022,381 5,742,221 1,186,891 - OTHER 5,015,545 4,555,330 - ALLOWANCES (SCHEDULE J) (78,752) - G. MISCELLANEOUS RECEIVABLES - RECEIVABLES FOR ASSETS SOLD (SCHEDULE B, C, D, AND NOTE 16) 2,885, ,163 1,967, ,650 - OTHER (NOTE 11) 2,789,169 1,845,729 - ACCRUED INTEREST ON AND ADJUSTMENTS TO RECEIVABLES FOR ASSETS SOLD (NOTE 16) 3,353 1,626 - OTHER ACCRUED INTEREST AND ADJUSTMENTS RECEIVABLE 7,977 28,930 - ALLOWANCES (SCHEDULE J) (35,505) (34,009) H. BANK PREMISES AND EQUIPMENT (SCHEDULE F AND NOTE 2 ITEM ) 2,458,296 2,241,172 I. MISCELLANEOUS ASSETS (SCHEDULE F AND NOTE 2 ITEM AND ) 1,270,576 1,204,018 J. INTANGIBLE ASSETS (SCHEDULE G AND NOTE 2 ITEM ) 2,294,639 2,210,404 - ORGANIZATION AND DEVELOPMENT EXPENSES 2,294,639 2,210,404 K. UNALLOCATED ITEMS 56,045 64,030 TOTAL ASSETS 224,296, ,306,331

24 BANCO DE GALICIA Y BUENOS AIRES S.A. Page 24 of 89 LIABILITIES L. DEPOSITS (SCHEDULES H AND I) - NON-FINANCIAL PUBLIC SECTOR 156,937,372 1,451, ,639,152 1,294,177 - FINANCIAL SECTOR 27,161 62,957 - NON-FINANCIAL PRIVATE SECTOR AND RESIDENTS ABROAD 155,458, ,282,018 - CURRENT ACCOUNTS 26,855,969 27,140,879 - SAVINGS ACCOUNTS 49,130,963 53,148,612 - TIME DEPOSITS 60,540,524 49,091,329 - INVESTMENT ACCOUNTS 412, ,665 - OTHER 17,498,701 18,566,227 - ACCRUED INTEREST, ADJUSTMENTS AND QUOTATION DIFFERENCES PAYABLE 1,019, ,306 M. OTHER LIABILITIES RESULTING FROM FINANCIAL BROKERAGE - ARGENTINE CENTRAL BANK (SCHEDULE I) 39,284,036 12,849 32,225,241 12,727 - OTHER 12,849 12,727 - BANKS AND INTERNATIONAL ENTITIES (SCHEDULE I ) 2,195,433 2,212,995 - UNSUBORDINATED NEGOTIABLE OBLIGATIONS ( SCHEDULE I AND NOTE 8 ) 6,973,138 4,759,723 - AMOUNTS PAYABLE FOR SPOT AND FORWARD PURCHASES TO BE SETTLED 4,164,151 7,680,190 - SECURITIES TO BE DELIVERED UNDER SPOT AND FORWARD SALES TO BE SETTLED (SCHEDULE O) 9,562, ,819 - PREMIUMS FROM WRITTEN OPTIONS - 2,027 - FINANCING FROM LOCAL FINANCIAL INSTITUTIONS (SCHEDULE I ) 1,661,263 1,349,465 - INTERBANK LOANS (CALL MONEY LOANS RECEIVED) - 165,000 - OTHER FINANCING FROM LOCAL FINANCIAL INSTITUTIONS 1,635,195 1,164,418 - ACCRUED INTEREST PAYABLE 26,068 20,047 - BALANCES FROM FORWARD TRANSACTIONS WITHOUT DELIVERY OF UNDERLYING ASSET TO BE SETTLED 47, ,833 - OTHER (SCHEDULE I AND NOTE 11) 14,404,398 15,244,218 - ACCRUED INTEREST, ADJUSTMENTS AND QUOTATION DIFFERENCES PAYABLE (SCHEDULE I) 262,204 95,244 N. MISCELLANEOUS LIABILITIES 3,523,570 3,167,438 - DIRECTORS' AND SYNDICS' FEES 22,630 17,234 - OTHER (NOTE 11) 3,500,940 3,150,204 O. PROVISIONS (SCHEDULE J) 264, ,959 P.SUBORDINATED NEGOTIABLE OBLIGATIONS (SCHEDULE I AND NOTE 8) 3,864,720 4,065,255 Q. UNALLOCATED ITEMS 36,525 42,408 TOTAL LIABILITIES 203,910, ,400,453 SHAREHOLDERS' EQUITY (As per related statement) 20,385,740 18,905,878 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 224,296, ,306,331