BCRA Circular OPRAC 1-1312: Credit Policy Adjustments

2026 - YEAR OF ARGENTINE GREATNESS COMMUNICATION “A” 8446 11/06/2026 TO FINANCIAL ENTITIES: Ref.: Circular OPRAC 1-1312: Credit Policy. Adjustments.

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We address you to inform you that this Institution has adopted the resolution which, in its pertinent part, establishes: “1 - Incorporate, as the second paragraph of point 2.1.2. of the consolidated text on Credit Policy, the following: “Foreign currency guarantees granted by the aforementioned subjects will also cover financing provided to clients who act as primary payers, waiving the benefits of excussion and division.” 2 - Provide that, for financing falling under the second paragraph of point 2.1.2. of the consolidated text on Credit Policy (text according to preceding point 1), the debtor is exempt from the requirement that agreed maturities align with the expected income flow in the currency of the loan (Consolidated Text on Credit Policy, pt. 2.2., 2nd para.).” Regarding this, we provide you with the pages that, replacing those previously issued, should be incorporated into the referenced consolidated text. In this regard, please note that on this Institution’s website www.bcra.gob.ar, by navigating to “Sections - Financial System – LEGAL AND REGULATORY FRAMEWORK - Consolidations and summaries - Consolidated texts of general regulations”, you will find the modifications made with text highlighted in special characters (strikethrough and bold). We extend our respectful greetings. CENTRAL BANK OF THE ARGENTINE REPUBLIC Darío C. Stefanelli Marina Ongaro Chief Manager of Issuance and Regulatory Applications Deputy General Manager of Financial Regulation ANNEX

2.1. Purposes/Uses. The lending capacity of foreign currency deposits shall be applied, in the corresponding collection currency, interchangeably, to the following purposes: 2.1.1. Pre-financing and financing of exports carried out directly or through agents, consignees, or other intermediaries acting on behalf and order of the goods owner. Operations intended to finance service providers exported directly (such as software programs, customer call centers) are also included, provided that the future foreign currency income flow from export operations demonstrates sufficient periodicity and magnitude to cancel the financing, and it is verified, in the year prior to granting the financing, foreign currency invoicing to overseas clients at an amount that bears a reasonable relationship to that activity and its financing. 2.1.2. Other financing to exporters, who have a future foreign currency income flow and it is verified, in the year prior to granting financing, foreign currency invoicing at an amount that bears a reasonable relationship to that financing. Financing granted to clients with foreign currency guarantees from the aforementioned subjects, acting as primary payers waiving excussion and division benefits, will also be included. 2.1.3. Financing to producers, processors, or stockholders of goods, provided that: 2.1.3.1. Have firm sales contracts for the goods to an exporter, with price fixed or to be fixed in foreign currency – regardless of the settlement currency – and concern fungible goods with normal, habitual foreign currency quotation in local or foreign markets, widely disseminated and easily accessible to public knowledge. In cases of forward sales contracts with price to be fixed, it must have a direct relationship with the price in local markets for those products; 2.1.3.2. Their main activity is the production, processing and/or stockholding of fungible goods with foreign currency quotation, normal and habitual in foreign markets, widely disseminated and easily accessible to public knowledge, and it is verified, in the year prior to granting financing, total invoicing of those goods at an amount that bears a reasonable relationship to that activity and its financing. Operations intended to finance service providers directly used in the goods export process (such as those provided at port terminals, international loading and unloading services, container or port deposit leasing, international freight) are also included. This is always provided that the future income flow from these services... B.C.R.A. CREDIT POLICY Section 2. Application of lending capacity of foreign currency deposits. Version: 9th COMMUNICATION “A” 8446 Effective: 12/06/2026 Page 1

Fbase: financing of included imports, corresponding to the August/October 2008 quarter. Cbase: lending capacity applicable to the August/October 2008 quarter. Financing and lending capacity shall be calculated according to point 2.5.

2.2. Conditions. For the purpose of granting such financing, regardless of the applied resource source, financial entities must verify that clients have sufficient payment capacity. To this end, at least two scenarios shall be considered, accounting for significant variations in the exchange rate of different magnitudes within a term of up to one year. The agreed financing and established maturities must align with the expected income flow in the currency of loan issuance, except for cases provided in the second paragraph of point 2.1.2. and points 2.1.7., 2.1.15. and 2.1.17. If the purpose is as provided in point 2.1.14., tax revenues related to foreign trade –income and value-added taxes withheld by the General Customs Directorate and import and export duties– shall be considered to determine payment capacity.

2.3. Allocation of incorporated financing. Financing for purposes established in point 2.1., transferred by other financial entities, may be allocated to the lending capacity of foreign currency deposits, provided that the transferring entities have met the requirements set forth in point 2.2.

2.4. Financing to debtors classified in the “uncollectible” category. Financing to debtors classified in the “uncollectible” category and fully provisioned may not be allocated to the lending capacity of foreign currency deposits.

2.5. Lending capacity. Lending capacity shall be determined for each foreign currency collected and will result from the sum of deposits and received inter-financial loans, reported by the granting financial entity as originating from its foreign currency deposit lending capacity, net of the minimum cash requirement on deposits.

B.C.R.A. CREDIT POLICY Section 2. Application of lending capacity of foreign currency deposits. Version: 11th COMMUNICATION “A” 8446 Effective: 12/06/2026 Page 4

| TEXTO ORDENADO | NORMA DE ORIGEN | OBSERVACIONES | | Secc. | Punto | Párr. | Com. | Anexo | Cap. | Secc. | Punto | Párr. | | 1. | 1.1. | “A” 49 | OPRAC-1 | I | 1.1. | Según Com. “A” 6031. | | 1.2. | “A” 4311 | Según Com. “A” 2736 (puntos 6. y 7.5.), 4851, 5067 y “C” 50798. | | 1.3. | “A” 49 | OPRAC-1 | I | 1.2. | | 1.4.1. | “A” 6662 | Según Com. “A” 7393. | | 1.4.2. | “A” 6723 | 2. Según Com. “A” 7393. | | 1.5. | “A” 7407 | Según Com. “A” 7535 y 7540. | | 2. | 2.1. | “A” 3528 | 1. Según Com. “A” 4147, Anexo. | | 2.1.1. | 1° | “A” 3528 | 1.1. Según Com. “A” 4015, 4311, 4423, 4851, 5908, 6363 y 6428. Incluye aclaración interpretativa. | | 2.1.2. | “A” 5908 | Según Com. “A” 6428 y 8446. Incluye aclaración interpretativa. | | 2.1.3. | “A” 4015 | 1.2. Incluye aclaración interpretativa. Según Com. “A” 4851 y 5908. | | 2.1.4. | “A” 4015 | 1.3. Según Com. “A” 5908 y 6105. | | 2.1.5. | “A” 6105 | 2. | | 2.1.6. | “A” 4423 | Según Com. “A” 5908. | | 2.1.7. | “A” 4453 | Según Com. “A” 4577 y 5908. | | 2.1.8. | “A” 4011 | 1.4. 1° Según Com. “A” 4015, 4311, 4851, 5908, 6031 y 6305. | | 2.1.9. | “A” 4015 | 1.4. último Según Com. “A” 4311, 4851 y 5908. | | 2.1.10. | “A” 3528 | 1.2. Según Com. “A” 4140 y 4311. | | 2.1.11. | “A” 5534 | 2. Según Com. “A” 5859. | | 2.1.12. | “A” 6031 | 2. | | 2.1.13. | “A” 6031 | 2. | | 2.1.14. | “A” 6105 | 2. Según Com. “A” 6526. | | 2.1.15. | “A” 6162 | 1. | | 2.1.16. | “A” 6231 | 1. | | 2.1.17. | “A” 6245 | 1. Según Com. “A” 6328. | | 2.1. último | “A” 4851 | 4. |

| TEXTO ORDENADO | NORMA DE ORIGEN | OBSERVACIONES | | Secc. | Punto | Párr. | Com. | Anexo | Cap. | Secc. | Punto | Párr. | | 2. | 2.2. | “A” 4015 | 1. 2° Según Com. “A” 4311, 4453, 4577, 5908, 6105, 6162, 6305 y 8446. Incluye aclaración interpretativa. | | 2.3. | “A” 4311 | | 2.4. | “A” 4311 | Según Com. “A” 6327 y 7443. | | 2.5. | 1° | “A” 3528 | 1. 2° Según Com. “A” 4015 y 4147. | | | 2° y último | “A” 4159 | 3.1. 5° y último Sección 3. del régimen informativo sobre efectivo mínimo y aplicación de recursos. Incluye aclaración interpretativa. | | 2.6. | “A” 3528 | 1. 3° Según Com. “A” 4015, 4140, 4549, 4716, 5299, 6241, 7003 y 7570. | | 3. | 3.1. | “A” 4140 | II | 1. 2° | | 3.2. | “A” 4311 | Incluye concepto según puntos 6. y 7.5. de la Com. “A” 2736. | | 4. | 4.1. | “A” 4311 | | 5. | 5.1. | “A” 4311 | Según Com. “A” 6572. | | 5.2. | “A” 4311 | Según Com. “A” 5093 y 6244. | | 5.3. | 1° | “A” 2736 | 6. Según Com. “A” 6244. Incluye aclaración interpretativa. | | | último | “A” 4311 | | 5.4. | “A” 6231 | | 5.5. | “A” 6572 | 2. | | 6. | 6.1. | “A” 3987 | 1. Según Com. “A” 5560, 5945, 6069, 6715 y 8024. | | 6.2. | “A” 6069 | 6. | | 6.3. | “A” 5945 | 5. Según Com. “A” 6069. | | 7. | 7.1. | “A” 6765 | 1. Según Com. “A” 6819, 6839, 6981, 7104, 7129, 7531, 7648 y 8043. Incluye aclaración interpretativa. | | 7.2. | “A” 6765 | 1. Según Com. “A” 6981, 7104 y 8043. | | 8. | “A” 6846 | 1. | | 9. | 9.1. | “A” 4311 | Según Com. “A” 5493 y 5892. | | 9.2. | “A” 4311 | Según Com. “A” 5493 y 5892. | | | último | “A” 6662 | Según Com. “A” 7393. | | 10. | “A” 8062 | 2. Según Com. “A” 8124. |