. "2026 - AÑO DE LA GRANDEZA ARGENTINA" "2026 - AÑO DE LA GRANDEZA ARGENTINA"

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COMMUNICATION “A” 8509 13/11/2026

TO FINANCIAL INSTITUTIONS:

Ref.: Circular
REMON 1-1153:

Placement of funds of the Sustainability Guarantee Fund in financial institutions. UVA fixed-term deposits destined for housing loans. Amendment to Communication “A” 8475.

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We address you to inform you that, with effect from 13/11/26, the text of Communication “A” 8475 is amended as follows:

“The Central Bank of the Argentine Republic (BCRA), in its capacity as technical and operational collaborator of the National Social Security Administration (ANSES) as administrator of the Sustainability Guarantee Fund (FGS), shall organize and execute auctions of fixed-term deposits in pesos adjustable by Purchasing Value Units (UVA) plus a spread, in accordance with the terms of the Technical Collaboration Agreement signed with said entity and the guidelines it establishes.

The following general conditions shall apply to the operation:

Instrument: fixed-term deposit in pesos adjustable by UVA plus a spread.

Destination of funds: the funds of those deposits must be destined, exclusively, to the granting of loans for the acquisition, construction, expansion or renovation of housing of natural persons, under the conditions established in this Communication and in the respective auction call.

Total amount of the Program: $2.000.000.000.000 (two trillion pesos).

System: the auctions shall be instrumented through the SIOPEL system of A3 Mercados, Rueda LIC2.

Auction mechanism: the auctions shall be conducted through a multiple-price system.

If more than one tranche is auctioned, first, the amounts of the bids shall be added and, then, the amounts of the bids shall be grouped by tranche. The percentage of the amount of bids per tranche with respect to the total amount of bids shall be the percentage of the total auction assigned to each tranche.

Then, within each tranche, the bids shall be ordered by the offered interest rate in descending order, starting from the one that records the highest nominal annual passive interest rate for the auctioned term. Such bids shall be accepted successively starting from the first. In the event that two or more bids record the same cut-off rate and their sum exceeds the distributable amount, the quotas of each tranche shall be assigned on said amount pro rata among the awardees.

In the event that a financial institution (EEFF) makes a single bid and it is not within the limits established in the respective auction call, said bid shall be discarded.

When an EEFF makes multiple bids and any of the limits is not met, the bids of that EEFF shall be ordered by the offered nominal annual rate (TNA) in descending order and the bids with the lowest rate shall be discarded until the established limits are met.

Eligible entities: the EEFF must have, at a minimum, a local-scale long-term risk rating corresponding to category BBB. In the event that an entity has more than one risk rating with different grades, for the purposes of determining compliance with the minimum rating required to integrate the FGS investment portfolio, the lowest of them shall be considered.

Likewise, the EEFF must not be subject to a regularization and restructuring plan under the terms of Article 34 of Law 21.526, nor owe the charges provided for in Article 35 of said law, nor be subject to final sanctions that imply a current operational restriction.

Term for the constitution of the fixed-term deposit: the awarded EEFF must mandatorily request the total crediting of the resources within a maximum term of 2 (two) banking business days following the pertinent notification from the BCRA. This term may not be extended. Likewise, at the time of crediting the funds, the EEFF must constitute the fixed-term deposits in pesos adjustable by UVA owned by ANSES-FGS.

Non-compliance: in the event of non-compliance with the conditions determined for the award, the administrator of the FGS shall be entitled, at its discretion, to early cancel, in whole or in part, the awarded amounts of the corresponding fixed-term deposit, with the UVA-adjusted principal and accrued interest being immediately due. The non-compliant EEFF must settle the early-cancelled awarded amounts within the peremptory term of 24 (twenty-four) business hours, counted from the reliable notification of the early cancellation.

Likewise, the administrator of the FGS may exclude the EEFF that incurs such non-compliance from participating in the next auction, counted from the day immediately following the verification of the non-compliance.

Conditions of each auction: the particular conditions of each auction shall be established in the respective call, which shall be made known through Communication “B”.

The participation of an EEFF in an auction shall imply its adherence and full acceptance of the terms and conditions established in this Communication and in the respective auction call.”

We greet you very attentively.

CENTRAL BANK OF THE ARGENTINE REPUBLIC

Sebastián D. Anigstein
Manager of Local and International Operations

Diego Jorge López Airaghi
Principal Manager of Market Operations