Bolsas y Mercados Argentinos S A : Earnings Presentation - 2Q22

Earnings Presentation

2nd quarter 2022 (2Q22)

Aug 11th, 2022

Historical and Inflation adjusted results(*)

According to IAS 29, BYMA must present its financial statements in inflation-adjusted terms. In historical terms, 2Q22 net income totaled ARS 3.5 billion, more than twice the result of the same quarter of 2021. After inflation adjustment, net income was negative by ARSS 946 million, because of the effect of inflation on our investments.

ARS million			Historical			Adjusted by inflation
		2Q21			2Q22			2Q21			2Q22
CSD			645.2			903.6			1,092.9			972.3
Exchange			640.9			965.9			1,082.2			1,013.6
Other operating income			388.3			276.0			723.9			313.2
Revenues			1674.3			2145.6			2899.1			2299.1
Inflation adjustment impact			-			-	-	3,347.2	-	4,653.9
Total expenses	-	881.2	-	1,147.4	-	1,620.7	-	1,389.0
Financial income			1,344.1			2,781.0			2,173.5			2,953.3
Other gain/loss	-	25.3	-	24.5			3.9			8.5
Participation in other companies			28.5			60.4	-	22.5	-	7.1
Income tax	-	474.0	-	307.8	-	708.7	-	157.2
Net income			1,666.5			3,507.2		-	622.5	-	946.3

(*) This side is the only one showing inflation adjusted figures. The rest of the presentation shows historical data.	2

CSD business: Assets under Custody (AUC)

Nominal value of AUC (2Q-22 average), added to 3,539 thousands of millions, increasing by 2,7% against 1Q-22 and 47% more than in 2Q-21.

AuC experienced a reduction in June explained by the

AuC by asset class

Central Bank (BCRA) repurchase program.

AuC valued at market prices (2Q-22 average) reached ARS

10% 4%

Public Debt

Treasury and Central bank bills

11,531 thousand of million, 18% above the value of 1Q-22 and 61% higher y-o-y.

38% Trusts

19%

Equity

2%	Private Debt

27%

Others

AuC Nominal Value - Monthly evolution

AuC Market value - Monthly evolution

Millions

+32%

3,257,180

ARS Million

+61%

jan-20

Feb-20

Mar-20

apr-20

May-20

Jun-20

Jul-20

aug-20Sep-20Oct-20Nov-20

dec-20

jan-21

Feb-21

Mar-21apr-21May-21

Jun-21

Jul-21aug-21Sep-21

Oct-21Nov-21

dec-21jan-22Feb-22

Mar-22

apr-22May-22Jun-22

jan-20

Feb-20

Mar-20

apr-20

May-20

Jun-20

Jul-20

aug-20

Sep-20

Oct-20Nov-20dec-20

jan-21Feb-21Mar-21apr-21May-21

Jun-21Jul-21aug-21Sep-21Oct-21

Nov-21dec-21jan-22

Feb-22

Mar-22

11,523,723

22-apr22-May22-Jun3

CSD business: Revenues

CSD revenues were ARS 904 million. This implied a 40% growth against 2Q-21 and explained 42% of BYMA's 2Q-22 total revenues. 72% of CSD revenues originated in ADC Services, which grew 47% against 2Q-21.

									Assets Under Custody	+61%
14,0 00,00 0										ARS Millions
12,0 00,00 0																		11,531,098
10, 000,0 00														8,780,281
8, 000, 000									6,219,838	7,160,639
					4,347,128
6, 000, 000
4, 000, 000
2, 000, 000
-
		1Q 20	2Q 20	3Q 20	4Q 20			1Q21	2Q21	3Q21		4Q21	1Q22	2Q22
								CSD Revenues						904
								ARS Millions
																	780	202
														685	702
									644				645				16
															200
									139	584		164	168	14
												166
477					487							13
456			11	156		13
			12
100					96
			93				11
10					9
				10												686
									493					508	521	566
									417	468
						381
367	353
1Q 20	2Q 20	3Q 20	4Q 20	1Q 21	2Q 21	3Q 21	4Q 21	1Q 22	2Q 22
					Additional services				ACRyP services			ADC services

	2Q 21	2Q 22	YoY $	YoY %
CSD (ARS Millions)	645.2	903.6	258.4	40.1%
ADC Services	467.7	686.1	218.5	46.7%
ACRyP Services	11.9	15.8	4.0	33.7%
Additional services	165.7	201.6	36.0	21.7%

Sovereign bond's coupon payments recovered in 2021, which strengthened the growth of ADC revenues.

The reduction in the activity of foreign investors results in a lower growth of Additional Services.

4

Exchange business: revenues

Exchange business revenues (ARS 966 million) grew 51% y-o-y and explained 45% of BYMA 2Q-22 revenues. As in the previous quarter, equity trading continues to be the main explanatory variable.

					Exchange Revenues
							ARS Millions				+51%					Exchange Revenue Share
														966						Equity
												874	885	70		0%	7%
												44	51		0%				Fixed income
									752		8%
									35
								641					2%				On-exchange repo
					564	581									39%
600			523	27
		24												Options
		449	22
		10									817
									765	759
		12															Futures
								656
307												22%
			492	496	553
9		469												Securities lending
		398
261
																		Market Data
	37	39	44	50	61	61	61	65	75	79			22%			Others
	1Q 20	2Q 20		3Q 20	4Q 20		1Q 21	2Q 21	3Q 21	4Q 21	1Q 22	2Q 22
				Market Data		Trading C&S fees			Other fees

	2Q 21	2Q 22	YoY $	YoY %
EXCHANGE (ARS Millions	640.9	965.9	325.0	50.7%
Trading C&S fees	552.8	816.8	264.0	47.7%
Market Data	60.6	79.0	18.4	30.3%
Other fees	27.5	70.2	42.7	155.4%

The different asset classes reflected similar growth rates in their traded values.

5