BBVA Francés

Corporate Presentation

4 Quarter 2017

BBVA Francés

Disclaimer: This presentation contains or may contain forward-looking statements within the meaning of the United States Securities Litigation

Reform Act of 1995, including but not limited to estimates of the prospects for the Argentine economy, BBVA Francés’ earnings, business

plans, expense and operational structure adjustments, capitalization plan, and trends affecting BBVA Francés’ financial condition and results of

operations. Any forward-looking statements included in this press release are based on current expectations and estimates, but actual results

and events may differ materially from anticipated future results and events. Certain factors which could cause the actual results and events to

differ materially from the expected results or events include: (1) changes in domestic or international stock market prices, exchange rates or

interest rates; (2) macroeconomic, regulatory, political or governmental changes; (3) changes in the markets for BBVA Francés’ products and

services; (4) increased competition; (5) changes in technology; or (6) changes in the financial condition, creditworthiness or solvency of the

customers, debtors or counterparties of BBVA Francés. Additional factors that could cause the actual results or events to differ materially from

the expected results or events are described in the reports filed by BBVA Francés with the United States Securities and Exchange Commission

(“SEC”), including, but not limited to, BBVA Francés’ annual report on Form 20-F and exhibits thereto. BBVA Francés does not undertake to

revise or update any of the information contained herein under any circumstances, including if at any moment following dissemination of such

information it is no longer accurate or complete.

2

01

02

04

05

06

Macroeconomic environment

Financial System

Strategy

Annex

BBVA Francés03

Financial performance

07 BBVA Group

01Macroeconomic environment

Economy

5

GDP Growth (% yoy) Quarterly GDP (% yoy)

-2.5%

2.6%

-2.2%

2.8%3.3% 3.3%

2014 2015 2016 2017e 2018e 2019e

Source: BCRA, INDEC and own estimations

Base 2004

0.4%

2.9%

4.2%3.7%

4Q16 1Q17 2Q17 3Q17 4Q17e

Signs of recovery in the economy, with positive expectations for coming years.

Decreasing trend in inflation, but still higher than

targets expected by the Central Bank

6

Inflation (% yoy)End of period

CPI monthly variation (%)

Source: INDEC CPI GBA: Jun-16 to Dec-16/ CPI National Jan-17 to Dec-17

Core inflation: Available data since December 2016.

Source: CPI CABA (Jan-13 to Mar-16) – INDEC: CPI GBA (Apr-16 to Dec-16) – IPC

Nacional INDEC (Jan-17 to Jul-17)

38.0%

26.9%

39.4%

24.8%

18.5%

12.2%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

2014 2015 2016 2017 2018e 2019e

Inflation Target BCRA

By the end of December 2017 the government announced a change in the inflation target scheme. The

new target for 2018 will be 15%, 10% in 2019 and 5% in 2020.

0%

5%

10%

15%

20%

25%

30%

35%

40%

0%

1%

2%

3%

4%

IPC m/m (left) Core m/m (left)

IPC y/y (right) Core y/y (right)

Fiscal Performance: lower subsidies as a driver to meet targetsPrimary fiscal result

Source: Ministry of Economy / 2017-2019 Targets

Subsidies to economic sectors

Source: ASAP for 2015 and Ministry of Economy for 2016 - 2017

Public debt per creditor (% GDP)

Source: Ministry of Finance

Figures in billion AR$

Primary result observed and targets

Source: Ministry of Economy

% of GDP

7

-3.4%

-4.0% -4.3%-3.9%

-4.2%

-3.2%

-2.2%

-5%

-4%

-3%

-2%

-1%

0%

2014 2015 2016 2017 2018e 2019e

Primary fiscal result (% GDP) Fiscal Target

-500

-400

-300

-200

-100

0

1Q17 2Q17 3Q17 4Q17

Quarterly target accumulated Observed

2.4%1.7%

1.3%

0.8%

0.6%

0.4%

0.1%

0.1%

0.0%

0%

1%

1%

2%

2%

3%

3%

4%

2015 2016 2017

Energy Transport Others

30.6% 27.5% 26.1% 27.4%

6.4%5.5% 5.0% 5.0%

12.4% 19.4% 19.6% 20.8%

4.0% 1.7%0.5% 0.5%

0%

20%

40%

60%

2015 2016 1Q17 2Q17

Debt still in default Private Sector

International Organizations Public Agencies

External sector: imports, mainly in capital goods and energy,

growing as the economy recovers

International reserves

Source: Central Bank

Current AccountExports and Imports

Source: Indec

FX rate and REM forecast (*)

% of GDP – Source: INDEC% change yoy

Figures in million USD AR$/USD

8

31,443

55,055

0

10,000

20,000

30,000

40,000

50,000

60,000

dic

-14

feb-1

5

abr-

15

jun

-15

ago

-15

oct-

15

dic

-15

feb-1

6

abr-

16

jun

-16

ago

-16

oct-

16

dic

-16

feb-1

7

abr-

17

jun

-17

ago

-17

oct-

17

dic

-17

-1.5%

-2.7% -2.7%

-5.1%

-6%

-5%

-4%

-3%

-2%

-1%

0%

1%

2014 2015 2016 2017e

Trade Balance Real services

Interest & Dividends Current Account

21.9

17.7

0

5

10

15

20

25

dic

-14

ma

r-1

5

jun

-15

sep

-15

dic

-15

ma

r-1

6

jun

-16

sep

-16

dic

-16

ma

r-1

7

jun

-17

sep

-17

dic

-17

ma

r-1

8

jun

-18

sep

-18

dic

-18

REM forecast FX rate

-30%

-20%

-10%

0%

10%

20%

30%

40%

Exports Imports

02Financial System

A system with strong ratios of liquidity, solvency…

13.3%

16.7% 16.0%

2015 2016 Nov-17

16.7%16.8%

16.5%

16.2%

16.0%

4Q16 1Q17 2Q17 3Q17 Nov-17

46.7%

49.0%

41.4%

2015 2016 Nov-17

49.0%52.3%

46.0%42.6% 41.4%

4Q16 1Q17 2Q17 3Q17 Nov-17

Cash + net repos with BCRA+BCRA bills / Total DepositsCapital Integration / RWA according to BCRA regulation

Source: BCRA – Financial System Report

Quarterly evolution

Capital Liquidity

10

…and healthy asset quality indicators

2.0%

1.7%

1.8%

1.7%

2014 2015 2016 3Q17

NPL

1.6%

1.8%1.9%

1.7%

4Q16 1Q17 2Q17 3Q17

Cost of risk

1.3%1.5%

1.6% 1.7%

4Q16 1Q17 2Q17 3Q17

1.4% 1.2% 1.3%1.7%

2014 2015 2016 3Q17

Quarterly evolution

11Source: BCRA (last available data as of September 2017)

Profitability, though recovering, still low in real terms

32.7% 32.4%29.6%

25.7%

0%

5%

10%

15%

20%

25%

30%

35%

40%

2014 2015 2016 Nov-17 *

ROE Inflation

ROE and InflationInflation: end of period

Quarterly figures

23.3%26.4%

24.9%25.9%

0%

10%

20%

30%

40%

4Q16 1Q17 2Q17 3Q17

ROE Inflation

ROE: quarterly net income / quarterly average equity, annualized

Quarterly inflation: quarterly average inflation, annualized

ROE: accumulated net income / monthly average equity, annualized

(*) Inflation accumulated as of November 2017, annualized

Source: BCRA and IPC CABA (from Jan-13 to Apr-16) – IPC GBA INDEC (from May -16 to May -17) – IPC Nacional INDEC (from June -17) 12

A small financial system, but with a good infrastructure to face

growth

Latam Private Loans and Total

Deposits in terms of GDP

15.8%

23.0%

84.6%

66.4%

45.3%41.6%

40.1%

32.6%

Loans to the Private Sector Deposits

Argentina 2017e Chile Colombia Perú

Branches and ATMs / 100,000

adult populationFigures as of December 2016

13.0

60.0

16.0

54.0

24.3

45.8

22.0

45.0

Branches ATMs

Argentina Chile Colombia Perú

Figures as of November 2017

13

Argentina has the less concentrated financial system in

the region

Total loans market share in Latam

Source: Central Banks

14

The top five banks concentrate about 50% of the total loans market share in Argentina compared to an

average of 75% in the region.

17% 32% 21% 19% 30% 19%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Argentina Uruguay Colombia Chile Perú Brazil

Top 1 Top 2 Top 3 Top 5

78

47

25 23

16

Argentina Mexico Colombia Chile Peru

Number of financial entities per countryAs of 2016

Private loans trend

Total Private Loans growth Retail and Commercial Loans

(ARS + USD)Figures in million AR$

15

0%

50%

100%

150%

200%

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

dic

-16

en

e-1

7

feb-1

7

ma

r-1

7

ab

r-1

7

ma

y-1

7

jun-1

7

jul-17

ag

o-1

7

sep-1

7

oct-

17

no

v-1

7

dic

-17

Total Nom Var Total % Var YoY

ARS % YoY USD % Var YoY

20%

25%

30%

35%

40%

45%

50%

55%

dic

-16

en

e-1

7

feb-1

7

ma

r-1

7

ab

r-1

7

ma

y-1

7

jun-1

7

jul-17

ag

o-1

7

sep-1

7

oct-

17

no

v-1

7

dic

-17

Retail % Var YoY Commercial % Var YoY

Total % Var YoY

Private deposits trend

Total Private Deposits growth Sight Deposits and Time Deposits

(ARS + USD)

16

0%

20%

40%

60%

80%

100%

120%

dic

-16

en

e-1

7

feb-1

7

ma

r-1

7

ab

r-1

7

ma

y-1

7

jun-1

7

jul-17

ag

o-1

7

sep-1

7

oct-

17

no

v-1

7

dic

-17

Total % Var YoY ARS % Var YoY USD % Var YoY

0%

10%

20%

30%

40%

50%

60%

70%

80%

SD % Var YoY TD % Var YoY Total % Var YoY

Interest rates and NIM

Interest rates and inflation Financial System NIM (*)

(*) Net financial income without foreign exchange differences / average earning assets

9.7%

9.2%

10.5%

11.3%

12.9%13.4%

13.0%

11.8%

7%

8%

9%

10%

11%

12%

13%

14%

2010 2011 2012 2013 2014 2015 2016 2017e

17

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

0%

5%

10%

15%

20%

25%

30%

35%

dic

-16

en

e-1

7

feb-1

7

ma

r-1

7

ab

r-1

7

ma

y-1

7

jun-1

7

jul-17

ag

o-1

7

sep-1

7

oct-

17

no

v-1

7

dic

-17

Private Badlar (left) Lebac<35d (left) Inflation (right)

03BBVA Francés

A universal bank with a countrywide presence

# Clients

ATMs 797

ATSs 822

Employees 6,082

Middle Market

43,359

Retail

2,630,270

2,674,473

Branches 251

Key Financial metrics

Assets

Total deposits

Net loans

Shareholders’

equity

12.0

6.8

8.2

1.3

4Q-17 • Figures in billion USD

• Exchange rate $18,8/USD

19(*) Variations (%) in comparison with the previous year

+15.1%

C&IB

844

10.1

9.2

7.4

7.3

4.0

3.5

3.1

3.0

1.8

1.3

SANTANDER

GALICIA

MACRO

BBVA FRANCÉS

HSBC

ICBC

PATAGONIA

SUPERVIELLE

CITI

ITAU

9.8

7.6

6.3

5.8

3.5

2.7

2.5

2.3

1.4

1.1

SANTANDER

GALICIA

BBVA FRANCES

MACRO

HSBC

PATAGONIA

ICBC

SUP

CITI

ITAU

One of the leader private banks in terms of loans and deposits

Total Loans (*)

Mutual Funds: 6.5%

20

As of December-2017

(*) Source: Central Bank. Market Share as of October 2017 (last available data)

Basis points variations in comparision with the previous quarter

+15 bp Branches: 5.6%As of Setember-2017

Total Deposits (*)

Private Loans (**): 8.3% Private Deposits (**): 7.7%+ 21 bp + 29 bp

(**) Market share as of Dec 2017. Includes loans of JVs consolidated within the financial statements, PSA Finance and Volkswagen

6.3%

6.9%

20.1%

ByMA ANSES NYSE

Equity Ownership

Ownership structure

BBVA Frances has been listed on the BCBA since 1888. Its shares have been also listed on the New

York Stock Exchange, since 1993, and Latibex, since 1999.

Free Float

33.45%

Grupo

BBVA

66.55%

21

Figures as of December 31, 2017

Subsidiaries and equity

participations

Francés Valores

(97.00%)

BBVA Seguros

(12.22%)

PSA

(50.00%)

Rombo

(40.00%)

Volskwagen

(51.00%)

BBVA

Francés

BBVA Asset Management

(95.00%)

04Strategy

Plenty of growth opportunities in the Argentine banking

sector

Mortgages

SMEs

Energy and Infrastructure

Saving and Investments

Just to mention some key drivers…

Undeveloped market

Fiscal amnesty and currency

stabilization

Engine of Argentina’s growth

…with potential room to grow

Potential for rapid banking penetration given low credit to GDP rations and

improving economic outlook.

15 years without investment

23

New macro environment results in need for growth

and transformation

DECREASING INFLATION

Imperative for growth

Margin compression

COMMODITIZED PRODUCTS

Customer experience

Transformation

Multichannel Strategy

Digital approach

Efficiency improvements stemming from scale and new customer experience.

24

Clients

Mortgages

Consumer loans

SMEs

Need for differentiation

BBVA Francés has a highlighted starting point to catch

the new environment opportunities

ATMs/

ATSs

Branches

Call

Center

Web

MobileSponsors

JVs

Alliances

Exclusive

partnerships

Physical

Infrastructure

Digital

Channels25

Diversified business

model

Multichannel structure and

exclusive partnerships

W

• Organic growth strategy

• Solid risk ratios

• Multichannel strategy:• Countrywide presence

• Digital Channels

• Car Loans JVs

• Commercial Alliances

• Transformation as

a driver to Efficiency

• Less expensive and fast

client acquisition

• Low cost funding base

• Brand Image

• Recent Capital Raising

Strengths

SWeaknesses

• Low market share in

personal loans.

• Improving cross sell but

still low.

• Room to improve service

quality

• Presence in lower

tier SMEs

OOpportunities

• Perspectives of

Economic Growth

• Low banking penetration

• Mortgages and SMEs.

• Increase in concentration

• Increase activity with

Public Agencies.

• Solid Risk Management

TThreats

• Peers with aggresive

advertising campaigns

• Increase competition

from new players and

FinTechs

• Lack of long-term funding

26

05Financial performance

Activity 2017

Strong balance sheet, with a remarkable

performance in terms of growth

(billion $)

Total loans (*) Deposits

AR$ 128.3 +66.2% AR$ 154.1 +34.4%

Leverage Loans (*) to Deposits

NPL Coverage

Tier ICapital ratioLiquidity(**)

35.3%

-1,324 bp14.7%

+90 bp

13.7%

+74 bp

Solid year in terms of activity, reflecting a

growing Loan to Deposits ratio

Maintaining the best asset quality ratios in

the Argentine financial system

July-17 follow-on resulted in a higher

capital ratio, which was decreasing

gradually after such period as a result of

an important growth in the activity.

Considering the adjustment based on

IFRS regulation, the capital ratio will be

200 bp higher.

(*) Total Loans without considering overnight operations balances

28

0.69% -8bp

83.3% +1,592 bp7.7 x -0.6x

253.1% -959 bp

YoY

(**) Cash and Due from Banks + Bills and Notes from BCRA / Total Deposits

Loans

BBVA Francés closed 2017 reaching outstanding results in terms of growth, increasing its customer base and gaining 71 b.p. in its consolidated private loans market share, which set at 8.3% at the end of the year.

Private LoansFigures in million AR$

Private Loans structure

Credit

Cards

50%

Personal

Loans

27%

Mortgages 7%

Car Loans 15%

77,115 81,330 89,445

108,088

128,303

4Q16 1Q17 2Q17 3Q17 4Q17

YoY

+66.4%

7.6 7.6 7.6 8.1 8.3

47%

53%Retail

Commercial

78%

22%

Pesos

USD

Private Loans by currency

Without considering overnight operations balances

29

Market

Share % (*)

(*) Consolidated Market share

Retail Banking

Personal Loans(Figures in million AR$)

(*) Car Loans include the activity of JVs: PSA Finance, VW Finance and Rombo Compañía Financiera (Rombo figures are not included into BBVA Francés Balance Sheet)

Car Loans (*)(Figures in million AR$)

9,36910,523

11,64713,787

16,319

4Q16 1Q17 2Q17 3Q17 4Q17

10,323

12,02913,307

15,679 16,808

4Q16 1Q17 2Q17 3Q17 4Q17

4.2 4.2 4.2 4.4 4.6 18.6 19.2 18.3 18.7 17.9

In August,2017, there was a reclasification in certain types of financing that had been previously incorporated in the car loans. For this reason the total amount for car loans

and, consequently, the car loans market share were modified in each period.

YoY

+74.1%YoY

+62.8%

30

Important evolution in retail banking, maintaining a strong position in car loans and recovering dynanism in personal loans with an increase of 41 b.p. in terms of market share.

Market

Share %

Market

Share %

Retail Banking

Credit Cards(Loans in million AR$ and credit card stock)

22,521 23,077 23,980

25,439 30,006

2,882 2,890 2,951 3,037 3,141

4Q16 1Q17 2Q17 3Q17 4Q17

Loans Card Stock

11.8 12.2 12.3 12.4 12.7

YoY

+33.2%

1,889 1,893 2,072

2,937

4,275

70

1,810

4Q16 1Q17 2Q17 3Q17 4Q17

Mortgages Loans Mortgages Sales

Mortgages – loans and quarterly sales

(Figures in million AR$)

YoY

+9.0% YoY +

2474.5%

31Increasing participation in the credit cards market and highlighted performance in mortgages.

Market

Share % (*)

.

Mortgages sales market share as of December 2017

.

(*) Refers to credit cards consumption market share

YoY

+126.2%

The Bank has around 6.2% market share

in morgages sales, non-considering state

owned banks the share is 25%

Commercial Banking

Consumer35%

Retailers18%

Basic Materials

14%

Energy14%

Durable goods

7%

Capital goods5%

Infrastructure3%

Transportation2%

Others 3%

Distribution by

industry 4Q17

Highlighted dynamism in financing companies both, in local and foreign currency, growing 82.3% y/y withan increasing commercial loans market share, which rose 145 b.p. during the year.

Figures in million AR$

Commercial (*)

36,522 38,512 43,48856,619

66,571

4Q16 1Q17 2Q17 3Q17 4Q17

59%

41%Pesos

USD

Commercial Loans by currency (*)

7.6 7.8 7.6 8.7 9.1

(*) Commercial loans without considering overnight operations

32

YoY

+82.3%

Market

Share %

Risk Manangement: maintaining an outstanding

asset quality

NPL peer group and

Financial System

1.7

0.7

1.0

1.6

2.2

System

BBVA

Peer 1

Peer 2

Peer 3

Opportunity

Retail Middle Market Corporate1.44% 0.36% 0.0%

NPL by segment Dec-17

Figures as of September-17, except BBVA Francés (as of

December 17)

262.7% 248.3% 243.3%271.1%

253.1%

0.8% 0.8% 0.9%0.7% 0.7%

1.2% 1.3% 1.3% 1.4%1.3%

0%

1%

2%

3%

4%

5%

4Q16 1Q17 2Q17 3Q17 4Q17

Coverage NPL Cost of Risk

33

NPL, coverage and cost of

risk

Public bonds and Central Bank bills own portfolio

34

5,277 6,890 7,921 7,465 7,025

7,310 7,201

14,39314,489

14,856

4Q16 1Q17 2Q17 3Q17 4Q17

Private Portfolio

BCRA Bills & Notes (ownportfolio)

Public Bonds and loans

Total exposure to the Public

Sector without repo

transactions

13,066 14,562 22,891 22,569 22,641

Public Sector National

Government / Total Assets3.5% 3.7% 4.6% 3.7% 3.1%

BCRA Bills / Total Assets 4.8% 3.9% 8.3% 7.2% 6.6%

Figures in million AR$

Over the year BBVA Francés celebrated repo transactions with the Argentine Republic of USD 250 million, due in December 2018 and March 2019.

Stable and diversified funding structure, based on

retail and SMEs customers

Growing market share in terms of private deposits since the 2Q17, with an increase in the participation of

sight accounts which provides us a cheaper funding mix.

Total DepositsFigures in million AR$

Deposits structureYoY

+34.4%

7.3 7.8 7.5 7.4 7.7

114,622122,823 125,674

129,948154,050

4Q16 1Q17 2Q17 3Q17 4Q17

Current accounts

16%

Saving accounts

51%

Time deposits

30%

Others3%

28%

72%

Sight

accounts

68%

TD>1MM

TD<1MM

35

Market

Share %

Capital: adequate levels of solvency, enough to

face the expected organic growth for coming years

13.8% 13.8%13.1%

17.3%

15.1%14.7%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

22%

4Q16 1Q17 2Q17 Follow-on 3Q17 4Q17

Capital ratio

The capital ratio showed a decrease after follow-on as a result of a significant growth in the loans portfolio size. Considering IFRS regulation, the capital ratio will be 200 b.p. higher.

Minimum Capital

Requirement

+3.5%

Additional

Buffer

(*) Capital ratio according to the Central Bank regulation

Capital ratio(*)

4Q2017

Tier I

13.7%

36

16.7%

Capital Ratio including IFRS adjustments

Clients evolution

2.292.35

2.42

2.51

2.63

4Q16 1Q17 2Q17 3Q17 4Q17

New retail clients

253270

344 300

2015 2016 2017 2018e

Figures in million

Total retail clients

37

YoY

+15.1%

Positive trend in terms of retail clients and SMEs acquisition, with a higher number of credit qualified

companies and a good position in payroll accounts.

SMEs by segment

39,506 43,359

11,685 14,928

4Q16 4Q17

Total Companies Credit qualified companies

As of Dec-2017

520 519 525 528 539

4Q16 1Q17 2Q17 3Q17 4Q17

Payroll accounts

(*) Payroll market share as of Oct-17

YoY

+3.7%

Figures in thousand

8.4 8.3 8.5 8.5 8.5 (*)

+27.8%

+9.8%

37

Market

Share %

Variations (%) in comparison with the 4Q16

Figures in thousand

Digital performance

38

41.0% 37.7%

20.9%

42.6%

93.1%

Personalloans

CreditCards

Insurance Timedeposits

MutualFunds

26.8%31.4%

40.7%37.0% 38.9%

4Q16 1Q17 2Q17 3Q17 4Q17

% Digital SalesYoY

+1210bp % Digital Sales by productFigures 4Q2017

In line with its transformation strategy, BBVA Francés continues to achieve a positive evolution in terms

of digital sales as well as digital clients.

% Digital clientsDigital clients / Total retail clients (*)

YoY

+670bp

+230

bp

-484

bp+228

bp

-16

bp

-38

bp

Basis points variations in comparison with the previous quarter

38

Digital sales / Total sales

46.6%47.8%

49.6%

51.3%

53.3%

4Q16 1Q17 2Q17 3Q17 4Q17

(*) It only considers target clients

Results 2017

Net Financial

Income

AR$ 3,433 MM+12.0%

Main Figures $ and q/q

Adm. Expenses

AR$ 3,027MM+4.5%

Net Income *

AR$ 902,8 MM+115% 18.2%

ROE*

2.1%

ROA* EFFICIENCY COVERAGE

Net Income from

Services

AR$ 1,191 MM- 3.5%

-591 bp -72 bp -73 bp+400bp

Net Financial

Income

15,040+21.2%

Main Figures $ and YoY

Administrative

Expenses

12,604+32.1%

Net Income

3,878+6.4%

Ratios 2017 YoY

61.0% 44.6%

Net Income from

Services

5,618 +30.0%

39

Ratios calculated on the accumulated resuts basis.

BBVA Francés achieved the targets set in terms of growth. This has resulted in a gradual improvement of

the P&L, which was impacted negatively by one offs during the 1S17 and closed the year with a

remarkable evolution.

Basis points variations in comparison with the previous quarter

Results 4Q 2017

Net Financial

Income

AR$ 3,433 MM+12.0%

Adm. Expenses

AR$ 3,027MM+4.5%

Net Income *

AR$ 902,8 MM+115%

22.2%

ROE*

2.8%

ROA*

56.8%

EFFICIENCY

10.6%

NIM COVERAGE

46.3%

Net Income from

Services

AR$ 1,191 MM- 3.5%

(*) Quarterly annualized ratios

+ 55 bp + 28 bp - 318 bp- 25 bp- 4 bp

Net Financial

Income

4,573+15.2%

Adm. Expenses

3,524+11.7%

Net Income

1,421+25.2%

Ratios 4Q 2017 QoQ

EFFICIENCY COVERAGE

Net Income from

Services

1,632 +4.5%

40

Main Figures MM AR$ and QoQ

Positive trend in terms of quarterly results, reaching a good performance of the net financial income as

well as a good evolution in the main profitability indicators.

Net income and main indicators

41

ROA

14.3%10.5%

22.3% 21.7% 22.2%

4Q17 1Q17 2Q17 3Q17 4Q17

3.0%

1.0%

2.0%2.5% 2.8%

4Q16 1Q17 2Q17 3Q17 4Q17

66.1% 67.4% 65.5% 57.0% 56.8%

4Q16 1Q 17 2Q 17 3Q17 4Q17

Administrative expenses / (Net Financial Income + Net Income

from Services)

Net income

Efficiency

582420

9031,135

1,421

4Q16 1Q17 2Q17 3Q17 4Q17

Figures in million AR$

1Q17 and 2Q17 without considering fiscal provision effect

41

QoQ

25.2%QoQ

+50bp

ROE

QoQ

+30bp

QoQ

-20bp

Gradual improvement in profitability and efficiency.

Net Interest Margin and NIM

Good dynamism in the net interest margin since the 2Q17, sustained by a highlighted growth in the

loan portfolio.

Net Financial

Income

458 306432

634

728

3,2523,064

3,433

3,970

4,573

4Q16 1Q17 2Q17 3Q17 4Q17

Foreign exchange differences

Figures in million AR$

YoY

40.6%

42

14.5%12.9% 13.0% 12.7% 12.9%

12.5%11.7% 11.4%

10.7% 10.6%

4Q16 1Q17 2Q17 3Q17 4Q17

With FX Without FX

Total NIM

(AR$+USD)

Total NIM

AR$

Total NIM

USD

15.1%

14.5%

14.2% 14.3%14.5%

4Q16 1Q17 2Q17 3Q17 4Q17

2.0%1.8% 1.9% 1.8%

2.3%

4Q16 1Q17 2Q17 3Q17 4Q17

Physical bills balance evolution

During the first months of 2017 the excess in the stock of physical bills was a differential factor that

affected BBVA Francés. This situation has started to normalize since the second semester.

Figures in million AR$

QoQ

-3.3%

3,4133,842 3,744

4,104

6,606

4,5754,029 3,898

1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17

Cash balance evolution (*)

5.7%6.1% 5.6% 5.9%

8.9%

5.9%5.1%

4.5%

1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17

QoQ

-60bp

Cash balance / Total deposits (*)

(*) Quarterly average balances in local currency

43

Total deposits without considering deposits from the Public Sector

44

Net Income from services started to grow at a faster pace showing a positive trend, while the administrative

expenses increased under control, reflecting a more restrictive expenses policy.

Fees and ExpensesFigures in million AR$

2,399 2,482 2,486 2,938 3,172

-1,322 -1,248 -1,295 -1,376 -1,540

1,076 1,632

4Q16 1Q17 2Q17 3Q17 4Q17

Services income Services expenses

Net income from services

2,861 2,898 3,0273,156

3,524

4Q16 1Q17 2Q17 3Q17 4Q17

YoY

51.6%

YoY

23.2%

Administrative ExpensesNet Income from Services

45

The Bank continues to focus on improving the expenses

side and increasing the productivity in branches

Total cashier operationsCarriage of valuables

81.7 85.7

118.1

145.4164.9

179.1160.2

178.8

5.3% 5.1%

6.1%

0%

2%

4%

6%

8%

10%

12%

14%

16%

0

50

100

150

200

Carriage of valuables Inflation (right) *

1.221.04 0.98 1.03

0

0.5

1

1.5

4Q16 2Q17 3Q17 4Q17

# millions of teller operationsIn million AR$

(*) Inflation (end of period): quarterly variation

YoY

-15.3%QoQ

+11.6%

Migrations to digital account

statements

Figures accumulated as a percentage of total clients to

migrate

4%17%

28%

50%

85%99% 100%

abr-17 may-17 jul-17 ago-17 sep-17 oct-17 dic-17

In line with the transformation strategy of BBVA Francés, the account statements of more than 1,2 million

clients migrated to the digital format, while total cashier operations decreased 15.3% during the year .

2018 Main drivers

46

Strong NII based on a higher volume of activity

Slight margin compression (lower than inicially

expected) based on better products mix, end of

mandatory loans, higher number of clients

Strong growth based on increasing credit card

consumption, products pricing, gradual fee gains

on new customers, higher cash deposits fees

and control on charge expenses.

Under Control – In line or slightly above inflation

Lower income tax

Positive trend in net

income for 2018

06Annex

Figures in million $ 4Q-16 1Q-17 2Q-17 3Q- 17 4Q-17 ∆ Q/Q ∆ Y/Y

Net Financial Income 3,252 3,064 3,433 3,970 4,573 15.2% 40.6%

Provision for Loan Loses (331) (324) (356) (503) (377) -25.0% 14.0%

Net Income from Services 1,076 1,234 1,191 1,562 1,632 4.5% 51.6%

Administrative Expenses (2,861) (2,898) (3,027) (3,156) (3,524) 11.7% 23.2%

Operating Income 1,137 1,076 1,241 1,873 2,303 23.0% 102.5%

Income (Loss) from equity

investments17 20 155 118 107 -9.9% 523.8%

Income (Loss) from Minority

interest(14) (28) (30) (18) (27) -49.2% -103.0%

Other Income/Expenses (142) 855 (1,168) (122) (211) -73.9% -49.4%

Income Tax (417) (317) (481) (717) (750) -4.6% -79.9%

Net Income 582,4 1,606 -283,0 1,135 1,421 25.2% 144.0%

Net income without fiscal

provision582,4 420,0 902,8 1,135 1,421 25.2% 144.0%

BBVA Francés P&L Breakdown

48

BBVA Francés balance sheet structure

Figures in million $ 4Q-16 1Q-17 2Q-17 3Q-17 4Q-17 ∆ Q/Q ∆ Y/Y

Cash and Banks 48,226 41,149 37,048 27,947 37,664 34.8% -21.9%

BCRA Bills & Notes 7,375 17,094 17,556 13,696 16,663 21.7% 125.9%

Public sector assets 5,277 6,890 7,958 16,337 16,890 3.4% 220.1%

Private Loans 78,791 82,912 89,518 111,676 128,366 14.9% 62.9%

Others 11,947 36,283 20,335 30,366 26,027 -14.3% 117.8%

TOTAL ASSETS (*) 151,715 184,328 172,415 200,023 225,610 12.8% 48.7%

Deposits 114,622 122,822 125,674 129,948 154,050 18.5% 34.4%

Others 20,634 44,351 29,870 45,436 45,504 0,1% 120.5%

TOTAL LIABILITIES 135,255 167,163 155,544 175,384 199,554 13.8% 47.5%

TOTAL NET WORTH 16,460 17,155 16,872 24,639 26,057 5.8% 58.3%

TOTAL LIABILITIES +

NET WORTH151,715 184,328 172,415 200,023 226,610 12.8% 48.7%

49(*) Total Assets contain certain repo operations that are duplicated

40

70

100

130

160

190

220

250

sep-16 oct-16 nov-16 dic-16 ene-17 feb-17 mar-17 abr-17 may-17 jun-17 jul-17 ago-17 sep-17 oct-17 nov-17 dic-17 ene-18

FRAN GGAL BMA SUPV

ADRs performance 100 points base as of September 1, 2016

Market data at the end of December , 2017

Source: Bloomberg

Mkt Cap (MM u$s)

Avg ADR volume (MM u$s) (*)

Floating (**)

FRAN GGAL BMA

26.6% 36.1% 30.0%

5,146 9,395 7,760

8.34 28.18 36.49

Market Data

50

SUPV

2,678

11.57

46.2%

(*) Average volume of the last three months

(**) Without considering the participation of ANSES

Ratings

Rating Agency Instrument Rating Outlook

Fix SCR* Shares 1 Neutral

Negotiable Obligations Global Program

(U$S 750 million)AAA (Arg)

Subordinated Senior Debt AA+ (Arg)

Senior Debt Short Term A1+ (Arg)

Senior Debt Long Term AAA (Arg)

S&P Institutional Rating Long Term raAA Neutral

Institutional Rating Short Term raA-1+

Negotiable Obligations Global Program

(U$S 750 million)raAA Neutral

*In November 2013, Fitch Argentina sold 70% of its capital stock to a local investor group and changed its name to Fix Scr. This new group will be

responsible for the local credit rating. 51

07BBVA Group

BBVA in the world

€ 690billion in total assets

72millon customers

>30countries

8,271branches

31,688ATMs

131,856employees

South America

Argentina

Bolivia

Brazil

Chile

Colombia

Paraguay

Perú

Uruguay

Venezuela

North America

United States

México

Europe

Germany

Belgium

Spain

France

Holland

Italy

Luxembourg

Malta

Portugal

U.K.

Romanía

Russia

Switzerland

Turkey

Asia-Pacífic

Australia

China

EAU

Hong Kong

India

Indonesia

Japan

South Corea

Singapore

Taiwán

Data at the end of December 2017 53

An important

contribution from

emerging markets

Leading franchises in all markets

Net atributtable profit – Breakdown€ million

(*) Spain includes the áreas Banking activity in Spain and Non Core Real Estate. Figures

excludes Corporate Center 54

40%

16%

10%

15%

16%

2%

Mexico España Estados Unidos Turquía América del Sur Resto Eurasia

3.519M€

12M17