Banco Macro to Buy Back 20 Million Shares

Banco Macro S.A. announced a share repurchase program to buy back up to 20 million Class B common shares, with a maximum expenditure of Ps$160 billion. The bank will pay up to Ps$10,700 per share over a 45-day period beginning the day after the announcement is published in the Buenos Aires Stock Exchange Bulletin.

The Board of Directors initiated the program to protect shareholder value and reduce price volatility. The bank stated that recent market declines do not reflect the fair value of its assets or economic potential, attributing the price drops to macroeconomic conditions and capital market fluctuations affecting domestic shares.

The program adheres to the bank's 10% capital stock limit and regulations set by the Comisión Nacional de Valores. These rules include a cap on daily acquisitions, which cannot exceed 25% of the average daily transaction volume from the previous 90 business days.