Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE

SECURITIES EXCHANGE ACT OF 1934

November 27, 2024

Commission File Number: 001-32827

MACRO BANK INC.

(Translation of registrant’s name into English)

Avenida Eduardo Madero 1182

Ciudad Autónoma de Buenos Aires C1106 ACY

Tel: 54 11 5222 6500

(Address of registrant’s principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F

⌧

Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes

⌧

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes

⌧

BANCO MACRO

3Q24 EARNINGS RELEASE

Index

01	Summary

02	Disclaimer

03	Results

04	Financial Assets

05	Public Sector Assets

06	Funding

07	Liquid Assets

08	Solvency

09	Asset Quality

10	3Q24 Snapshot

11	Relevant and Recent Events

12	Regulatory Changes

13	CER Exposure and Foreign Currency Position

BANCO MACRO

3Q24 EARNINGS RELEASE

BANCO MACRO

3Q24 EARNINGS RELEASE

BANCO MACRO

3Q24 EARNINGS RELEASE

Summary

.01

· THE BANK’S NET INCOME totaled Ps.91.3 billion in 3Q24. This result was 293% or Ps.68.1 billion higher than in 3Q23. In 3Q24, the accumulated annualized return on average equity (“ROAE”) and the accumulated annualized return on average assets (“ROAA”) were 6.8% and 2.1%, respectively.

· In 3Q24, OPERATING INCOME (before G&A and personnel expenses) totaled Ps.829.2 billion, 61% or Ps.313 billion higher than in 2Q24 and 25% or Ps.272.3 lower than 3Q24.

· In 3Q24, OPERATING INCOME (after G&A and personnel expenses) totaled Ps.403.7 billion, 263% or Ps.292.6 billion higher than in 2Q24 and 44% or Ps.322.5 billion lower than the same period of last year.

· In 3Q24, BANCO MACRO’S TOTAL FINANCING increased 17% or Ps.657.9 billion quarter over quarter (“QoQ”) totaling Ps.4.55 trillion and increased 28% or Ps.988 billion year over year (“YoY”). In 3Q24 peso financing increased 19% while USD financing decreased 1%.

· In 3Q24, BANCO MACRO’S TOTAL DEPOSITS increased 7% or Ps.516 billion QoQ and increased 30% or Ps.1.9 trillion YoY, totaling Ps.8.1 trillion and representing 76% of the Bank’s total liabilities. Private sector deposits increased 6% or Ps.401.8 billion QoQ. In 3Q24, Peso deposits decreased 15% while USD deposits increased 87%.

· Banco Macro continued showing a strong solvency ratio, with an EXCESS CAPITAL of Ps.2.5 trillion, 32.8% Capital Adequacy Ratio – Basel III and 32.8 % Tier 1 Ratio. In addition, the Bank’s LIQUID ASSETS remained at an adequate level, reaching 91% of its total deposits in 3Q24.

· In 3Q24, the Bank’s NON-PERFORMING TO TOTAL FINANCING RATIO was 1.15% and the COVERAGE RATIO reached 177.6%.

· As of 3Q24, through its 515 branches and 9.109 employees Banco Macro serves 5.24 million retail customers (2.21 million digital customers) across 23 of the 24 Provinces in Argentina and over 161,180 corporate customers.

BANCO MACRO

3Q24 EARNINGS RELEASE

Disclaimer

.02

This press release includes forward-looking statements. We have based these forward-looking statements largely on our current beliefs, expectations and projections about future events and financial trends affecting our business. Many important factors could cause our actual results to differ substantially from those anticipated in our forward-looking statements, including, among other things: inflation; changes in interest rates and the cost of deposits; government regulation; adverse legal or regulatory disputes or proceedings; credit and other risks of lending, such as increases in defaults by borrowers; fluctuations and declines in the value of Argentine public debt; competition in banking and financial services; deterioration in regional and national business and economic conditions in Argentina; and fluctuations in the exchange rate of the peso.

The words “believe,” “may,” “will,” “aim,” “estimate,” “continue,” “anticipate,” “intend,” “expect” and similar words are intended to identify forward-looking statements. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, financing plans, competitive position, industry environment, potential growth opportunities, the effects of future regulation and the effects of competition. Forward-looking statements speak only as of the date they were made, and we undertake no obligation to update publicly or to revise any forward-looking statements after we distribute this press release because of new information, future events or other factors. In light of the risks and uncertainties described above, the forward-looking events and circumstances discussed in this press release might not occur and are not guarantees of future performance.

This report is a summary analysis of Banco Macro's financial condition and results of operations as of and for the period indicated. For a correct interpretation, this report must be read in conjunction with all other material periodically filed with the Comisión Nacional de Valores (www.cnv.gob.ar), the Securities and Exchange Commission (www.sec.gov), Bolsas y mercados Argentinos (www.byma.com.ar) and the New York Stock Exchange (www.nyse.com). In addition, the Central Bank (www.bcra.gov.ar) may publish information related to Banco Macro as of a date subsequent to the last date for which the Bank has published information.

Readers of this report must note that this is a translation made from an original version written and expressed in Spanish. Consequently, any matters of interpretation should be referred to the original version in Spanish.

This Earnings Release has been prepared in accordance with the accounting framework established by the Central Bank of Argentina (“BCRA”), based on International Financial Reporting Standards (“I.F.R.S.”) and the resolutions adopted by the International Accouting Standards Board (“I.A.S.B”) and by the Federación Argentina de Consejos Profesionales de Ciencias Económicas (“F.A.C.P.E.”). As of January 2020 the Bank started reporting with the application of (i) Expected losses of IFRS 9 “Financial Instruments” and (ii) IAS 29 “Financial Reporting in Hyperinflationary Economies”. Data and figures shown in this Earnings Release may differ from the ones shown in the 20-F annual report. As of fiscal year 2021, the monetary result accrued by items of a monetary nature measured at fair value with changes in Other Comprehensive Income (OCI), is recorded in the Result form the Net Monetary Position integrating the Net Result of the period in accordance with Communication “A” 7211 of the Central Bank of Argentina. Previous quarters of 20223 have been restated in accordance with said Communication in order to make a comparison possible

BANCO MACRO

3Q24 EARNINGS RELEASE

3Q24 Earnings Release Conference Call

Monday, December 2, 2024

Time:

11:00 a.m. Eastern Time

01:00 p.m. Buenos Aires Time

To participate, please dial:

Argentina Toll Free:

(011) 3984 5677

Participants Dial In (Toll Free):

+1 (844) 450 3847

Participants International Dial In:

+1 (412) 317 6370

Conference ID: Banco Macro

Webcast: click here

Webcast Replay: click here

Available from 12/2/2024 through 12/16/2024

IR Contacts in Buenos Aires:

Jorge Scarinci

Chief Financial Officer

Nicolás A. Torres

Investor Relations

Phone: (54 11) 5222 6682

E-mail: investorelations@macro.com.ar

Visit our website at:

www.macro.com.ar/relaciones-inversores

BANCO MACRO

3Q24 EARNINGS RELEASE

Results

.03

Earnings per outstanding share were Ps.142.1 in 3Q24, 293% higher than in 3Q23.

EARNINGS PER SHARE	MACRO Consolidated										Change
In MILLION $ (Measuring Unit Current at EOP)	3Q23		4Q23		1Q24		2Q24		3Q24		QoQ			YoY
Net income -Parent Company- (M $)		23,210		927,000		365,924		-261,537		91,321		-			293	%
Average # of shares outstanding (M)		639		639		639		639		639		0	%		0	%
Book value per avg. Outstanding share ($)		4,873		6,450		6,992		5,604		5,701		2	%		17	%
Shares Outstanding (M)		639		639		639		639		639		0	%		0	%
Earnings per avg. outstanding share ($)		36.17		1,450.70		572.65		-409.29		142.12		-			293	%
EOP FX (Pesos per USD)		350.0083		808.4833		857.4167		911.7500		970.9167		6	%		177	%
Book value per avg. issued ADS (USD)		139.23		79.78		81.55		61.46		58.72		-4	%		-58	%
Earnings per avg. outstanding ADS (USD)		1.03		17.94		6.68		-4.49		1.46		-			42	%

Banco Macro’s 3Q24 net income totaled a Ps.91.3 billion gain, 293% or Ps.68.1 billion higher than in 3Q23. This result is mainly due to higher net interest income and a lower loss related to result from the net monetary position (lower inflation registered in the quarter).

As of 3Q24 the accumulated result represented an annualized ROAE and ROAA of 6.8% and 2.1% respectively.

Net operating income (before G&A and personnel expenses) was Ps.829.2 billion in 3Q24, 61% or Ps.313 billion higher compared to 2Q24. On a yearly basis, Net Operating Income (before G&A and personnel expenses) decreased 25% or Ps.272.3billion.

In 3Q24, Provision for loan losses totaled Ps.23 billion, 24% or Ps.4.5 billion higher than in 2Q24. On a yearly basis provision for loan losses increased 53% or Ps.7.9 billion.

Operating income (after G&A and personnel expenses) was Ps.403.7 billion in 3Q24, 263% or Ps.292.6 billion higher than in 2Q24 and 44% or Ps.322.5 billion lower than a year ago.

BANCO MACRO

3Q24 EARNINGS RELEASE

INCOME STATEMENT	MACRO Consolidated										Change
In MILLION $ (Measuring Unit Current at EOP)	3Q23		4Q23		1Q24		2Q24		3Q24		QoQ			YoY
Net Interest Income		348,220		370,287		222,710		213,035		569,131		167	%		63	%
Net fee income		109,667		112,019		98,464		108,657		117,808		8	%		7	%
Net Interest Income + Net Fee Income		457,887		482,306		321,174		321,692		686,939		114	%		50	%
Net Income from financial instruments at fair value through P&L		-112,346		1,804,611		1,691,704		135,902		103,585		-24	%		-
Income from assets at amortized cost		424		266		28		-4		326		-			-23	%
Differences in quoted prices of gold and foreign currency		735,665		368,386		107,146		28,766		16,263		-43	%		-98	%
Other operating income		34,864		50,720		58,964		48,265		45,008		-7	%		29	%
Provision for loan losses		15,030		36,652		25,071		18,476		22,966		24	%		53	%
Net Operating Income		1,101,464		2,669,637		2,153,945		516,145		829,155		61	%		-25	%
Employee benefits		133,241		179,320		177,344		152,986		161,679		6	%		21	%
Administrative expenses		71,308		128,039		91,615		74,088		90,253		22	%		27	%
Depreciation and impairment of assets		25,507		40,629		32,286		30,274		30,605		1	%		20	%
Other operating expenses		145,215		225,486		185,577		147,708		142,889		-3	%		-2	%
Operating Income		726,193		2,096,163		1,667,123		111,089		403,729		263	%		-44	%
Result from associates & joint ventures		-220		315,407		-284		-6,333		1,011		-			-
Result from net monetary postion		-667,194		-1,059,942		-1,181,915		-518,731		-283,895		-45	%		-57	%
Result before taxes from continuing operations		58,779		1,351,628		484,924		-413,975		120,845		-129	%		106	%
Income tax		35,569		424,628		119,000		-152,438		29,524		-119	%		-17	%
Net income from continuing operations		23,210		927,000		365,924		-261,537		91,321		-135	%		293	%
				-		-
Net Income of the period		23,210		927,000		365,924		-261,537		91,321		-135	%		293	%
Net income of the period attributable to parent company		23,127		926,572		366,169		-262,062		90,873		-			293	%
Net income of the period attributable to minority interest		83		428		-245		525		448		-15	%		440	%
Other Comprehensive Income		-4,378		80,670		-19,552		-53,772		-29,118		-			-
Foreign currency translation differences in financial statements conversion		396		20,624		-18,697		-4,731		-2,158		-			-
Profits or losses from financial assets measured at fair value through other comprehensive income (FVOCI) (IFRS 9(4.1.2)(a)		-4,774		60,046		-855		-49,041		-26,960		-			-
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD		18,832		1,007,670		346,372		-315,309		62,203		-120	%		230	%
Total Comprehensive Income attributable to parent Company		18,749		1,007,242		346,617		-315,834		61,755		0	%		229	%
Total Comprehensive Income attributable to non-controlling interests		83		428		-245		525		448		-15	%		440	%

The Bank’s 3Q24 net interest income totaled Ps.569.1 billion, 167% or Ps.356.1 billion higher than in 2Q24 and 63% or Ps.220.9 billion higher YoY. Interest income increased 23% while interest expenses decreased 40%.

In 3Q24 interest income totaled Ps.857.6 billion, 23% or Ps.160.4 billion higher than in 2Q24 and 35% or Ps.468.4 billion lower than in 3Q23.

Income from interest on loans and other financing totaled Ps.405.4 billion, 13% or Ps56.9 billion lower compared with the previous quarter mainly due to a 15.4 percentage points decrease in the average lending rate which was partially offset by a 20% increase in the average volume of private sector loans. On a yearly basis Income from interest on loans decreased 28% or Ps.161.1 billion.

In 3Q24, income from government and private securities increased 143% or Ps.253 billion QoQ and decreased 33% or Ps.210.1 billion compared with the same period of last year. This result is explained 80% by income from government and private securities valued at amortized cost and the remaining 20% is explained by income from government and private securities through other comprehensive income (Other government securities)

BANCO MACRO

3Q24 EARNINGS RELEASE

In 3Q24, income from Repos totaled Ps.18.6 billion, 66% or Ps.36 billion lower than the previous quarter and 84% or Ps.97.5 billion lower than a year ago.

In 3Q24 FX income totaled Ps.16.3 billion, 43% or Ps.12.5 billion lower than the previous quarter and 98% or Ps.719.4 billion lower than a year ago. FX income gain was due to the 6.5% argentine peso depreciation against the US dollar and the Bank’s long dollar position during the quarter.

FX INCOME	MACRO Consolidated						Variation
In MILLION $ (Measuring Unit Current at EOP)	3Q23		2Q24		3Q24		QoQ			YoY
(1) Differences in quoted prices of gold and foreign currency		735,665		28,766		16,263		-43	%		-98	%
Translation of FX assets and liabilities to Pesos		733,796		28,641		16,135		-44	%		-98	%
Income from foreign currency exchange		1,869		124		128		3	%		-93	%
(2) Net Income from financial assets and liabilities at fair value through P&L		-1,341		-4,136		-23,833		476	%		1677	%
Income from investment in derivative financing instruments		-1,341		-4,136		-23,833		476	%		1677	%
(1) +(2) Total Result from Differences in quoted prices of gold and foreign currency		734,324		24,630		-7,570		-			-

BANCO MACRO

3Q24 EARNINGS RELEASE

INTEREST INCOME	MACRO Consolidated										Change
In MILLION $ (Measuring Unit Current at EOP)	3Q23		4Q23		1Q24		2Q24		3Q24		QoQ			YoY
Interest on Cash and due from Banks		3,926		3,906		4,168		3,742		4,160		11	%		6	%
Interest from government securities		639,298		215,569		125,002		175,800		429,369		144	%		-33	%
Interest from private securities		257		1,654		1,395		689		102		-85	%		-60	%
Interest on loans and other financing
To the financial sector		1,756		3,281		1,366		1,106		537		-51	%		-69	%
To the public non financial sector		12,390		10,721		2,215		923		4,725		412	%		-62	%
Interest on overdrafts		84,485		153,050		94,880		69,081		61,032		-12	%		-28	%
Interest on documents		87,163		124,235		75,661		48,391		37,549		-22	%		-57	%
Interest on mortgages loans		67,378		98,610		144,584		92,866		48,572		-48	%		-28	%
Interest on pledged loans		5,270		5,895		4,178		3,323		3,724		12	%		-29	%
Interest on personal loans		118,024		114,049		92,731		106,551		127,548		20	%		8	%
Interest on credit cards loans		99,019		111,001		86,306		66,917		54,109		-19	%		-45	%
Interest on financial leases		1,124		4,723		4,666		2,908		2,670		-8	%		138	%
Interest on other loans		89,794		139,284		111,166		70,212		64,885		-8	%		-28	%
Interest on Repos		0
From the BCRA		116,071		168,364		201,873		54,410		16,313		-70	%		-86	%
Other financial institutions		52		1,306		86		204		2,266		-			-
Total Interest income		1,326,007		1,155,648		950,277		697,123		857,561		23	%		-35	%
Income from Interest on loans		552,257		750,847		614,172		460,249		400,089		-13	%		-28	%

The Bank’s 3Q24 interest expense totaled Ps.288.4 billion, decreasing 40% or Ps.195.7 billion compared to the previous quarter and 71% (Ps.689.4 billion) lower compared to 3Q23.

In 3Q24, interest on deposits represented 96% of the Bank’s total interest expense, decreasing 41% or Ps.191.3 billion QoQ, due to a 12.4 percentage points decrease in the average rate paid on deposits while the average volume of deposits from the private sector decreased 11%. On a yearly basis, interest on deposits decreased 71% or Ps.682.4billion.

INTEREST EXPENSE	MACRO Consolidated										Change
In MILLION $ (Measuring Unit Current at EOP)	3Q23		4Q23		1Q24		2Q24		3Q24		QoQ			YoY
Deposits
Interest on checking accounts		65,571		72,205		85,233		40,053		15,952		-60	%		-76	%
Interest on saving accounts		8,464		12,536		17,400		10,999		5,747		-48	%		-32	%
Interest on time deposits		885,312		677,886		598,187		417,189		255,213		-39	%		-71	%
Interest on other financing from BCRA and financial inst.		731		1,883		3,161		-271		641		-337	%		-12	%
Repos
Other financial institutions		6,664		5,466		5,463		2,124		29		-99	%		-100	%
Interest on corporate bonds		87		3,079		6,310		4,184		2,397		-43	%		2655	%
Interest on subordinated bonds		7,294		7,612		8,023		6,668		6,378		-4	%		-13	%
Interest on other financial liabilities		3,664		4,694		3,790		3,142		2,073		-34	%		-43	%
Total financial expense		977,787		785,361		727,567		484,088		288,430		-40	%		-71	%
Expenses from interest on deposits		959,347		762,627		700,820		468,241		276,912		-41	%		-71	%

BANCO MACRO

3Q24 EARNINGS RELEASE

In 3Q24, the Bank’s net interest margin (including FX) was 31.5%, higher than the 20% posted in 2Q24 and lower than the 60.6% posted in 3Q23.

ASSETS & LIABILITIES PERFORMANCE (AR$)	MACRO Consolidated
In MILLION $	3Q23								2Q24								3Q24
(Measuring Unit Current at EOP)	AVERAGE		REAL INT			NOMINAL			AVERAGE		REAL INT			NOMINAL			AVERAGE		REAL INT			NOMINAL
Yields & rates in annualized nominal %	BALANCE		RATE			INT RATE			BALANCE		RATE			INT RATE			BALANCE		RATE			INT RATE
Interest-earning assets
Loans & Other Financing
Public Sector		53,281		-19.3	%		92.3	%		10,331		-22.2	%		35.9	%		46,461		-5.2	%		40.5	%
Financial Sector		9,808		-28.4	%		70.5	%		28,945		-34.3	%		14.8	%		31,230		-27.7	%		7.2	%
Private Sector		3,154,774		-30.3	%		66.0	%		2,627,430		-4.0	%		67.6	%		3,298,999		-1.3	%		46.4	%
Other debt securities
Central Bank Securities (Leliqs)		2,182,080		-16.3	%		99.4	%		0		0.0	%		0.0	%		0		0.0	%		0.0	%
Government & Private Securities		465,170		-28.9	%		69.3	%		574,663		27.0	%		121.9	%		2,625,717		11.2	%		64.9	%
Repos		451,304		-15.1	%		102.1	%		391,669		-10.6	%		56.1	%		179,301		-4.8	%		41.2	%
Total interest-earning assets		6,316,417		-24.2	%		80.6	%		3,633,038		-0.2	%		74.4	%		6,181,708		3.8	%		53.9	%

Fin. Assets through P&L and equity inv.		35,393		303.5	%		688.4	%		5,145,984		5.3	%		224.0	%		936,576		-37.3	%		9.6	%
Other Non interest-earning assets		1,482,453								1,852,964								2,322,551
Total Non interest-earning assets		1,517,846								6,998,948								3,259,127
Total Average Assets		7,834,263								10,631,986								9,440,835

Interest-bearing liabilities
Deposits
Public Sector		359,421		-21.1	%		88.0	%		348,435		-13.3	%		51.5	%		382,528		-8.7	%		35.3	%
Private Sector		4,773,777		-27.3	%		73.1	%		4,009,305		-18.4	%		42.5	%		3,441,606		-13.7	%		28.0	%
BCRA and other financial institutions		934		72.7	%		311.4	%		955		-55.7	%		-22.7	%		3,146		25.6	%		86.2	%
Corporate bonds		0		0.0	%		0.0	%		12,335		20.6	%		110.7	%		12,801		2.2	%		51.5	%
Repos		31,383		-22.7	%		84.2	%		16,309		-12.8	%		52.4	%		431		-14.5	%		26.8	%
Other financial liabilities		4907		0.578			2.759			26413		-0.204			0.391			13943		0.03			0.527
Total int.-bearing liabilities		5,170,422		-26.8	%		74.4	%		4,413,752		-17.9	%		43.4	%		3,854,455		-13.0	%		29.0	%

Total non int.-bearing liabilities		2,292,142								2,463,852								2,193,877

Total Average Liabilities		7,462,564								6,877,604								6,048,332

Assets Performance				1,283,231								672,439								837,150
Liabilities Performance				970,095								476,048								280,533
Net Interest Income				313,136								196,391								556,617
Total interest-earning assets				6,316,417								3,633,038								6,181,708
Net Interest Margin (NIM)				19.7	%							21.7	%							35.8	%

BANCO MACRO

3Q24 EARNINGS RELEASE

ASSETS & LIABILITIES PERFORMANCE USD	MACRO Consolidated
In MILLION $	3Q23								2Q24								3Q24
(Measuring Unit Current at EOP)	AVERAGE		REAL INT			NOMINAL			AVERAGE		REAL INT			NOMINAL			AVERAGE		REAL INT			NOMINAL
Yields & rates in annualized nominal %		BALANCE		RATE			INT RATE			BALANCE		RATE			INT RATE			BALANCE		RATE			INT RATE
Interest-earning assets
Cash and Deposits in Banks		476,278		-56.6	%		3.3	%		454,139		-40.9	%		3.3	%		409,123		-29.9	%		4.0	%
Loans & Other Financing
Financial Sector		820		-55.2	%		6.8	%		1,134		-33.8	%		15.6	%		303		-60.9	%		-42.0	%
Private Sector		254,045		-40.2	%		42.4	%		704,358		-36.7	%		10.6	%		712,893		-26.9	%		8.4	%
Other debt securities
Government & Private Securities		50,254		-19.2	%		92.4	%		66,026		-34.9	%		13.7	%		58,850		-27.0	%		8.3	%
Total interest-earning assets		781,397		-48.9	%		21.7	%		1,225,657		-38.1	%		8.1	%		1,181,169		-27.9	%		6.9	%

Fin. Assets through P&L and equity inv.		2,429,141		-69.7	%		-27.9	%		151,471		-16.7	%		45.5	%		140,282		-27.6	%		7.4	%
Other Non interest-earning assets		878,121								890,399								1,107,609
Total Non interest earning assets		3,307,262								1,041,870								1,247,891
Total Average Assets		4,088,659								2,267,527								2,429,060

Interest-bearing liabilities
Deposits
Public Sector		26,656		-58.0	%		0.1	%		10,203		-42.4	%		0.6	%		26,470		-31.5	%		1.5	%
Private Sector		540,414		-58.0	%		0.0	%		863,534		-42.7	%		0.1	%		902,965		-32.4	%		0.2	%
BCRA and other financial institutions		15,176		-55.3	%		6.5	%		25,580		-39.5	%		5.6	%		21,964		-30.3	%		3.4	%
Issued corporate bonds		15,563		-57.1	%		2.2	%		60,069		-39.7	%		5.3	%		52,320		-28.8	%		5.6	%
Subordinated bonds		441,819		-55.3	%		6.5	%		421,744		-39.1	%		6.4	%		398,298		-28.2	%		6.4	%
Total int.-bearing liabilities		1,039,628		-56.8	%		2.9	%		1,381,130		-41.4	%		2.3	%		1,402,017		-31.1	%		2.2	%

Total non int.-bearing liabilities		567,478								750,397								742,878

Total Average liabilities		1,607,106								2,131,527								2,144,895

Assets Performance				42,776								24,684								20,411
Liabilities Performance				7,692								8,042								7,898
Net Interest Income				35,084								16,642								12,513
Total interest-earning assets				781,397								1,225,657								1,181,169
Net Interest Margin (NIM)				17.8	%							5.5	%							4.2	%

In 3Q24 Banco Macro’s net fee income totaled Ps.117.8 billion, 8% or Ps.9.2 billion higher than in 2Q24 and was 7% or Ps.8.1 billion higher than the same period of last year.

In the quarter, fee income totaled Ps.138.6 billion, 9% or Ps.11.6 billion higher than in 2Q24. In the quarter insurance fees increased 37% or Ps.2.3 billion, corporate services fees increased 18% or Ps.3 billion while credit card fees increased 18% or Ps.3.8 billion. On a yearly basis, fee income increased 14% or Ps.16.8 billion.

In the quarter, total fee expense increased 13% or Ps2.5 billion, mainly due to higher ATM networks fees. On a yearly basis, fee expenses increased 71% or Ps.8.6 billion.

BANCO MACRO

3Q24 EARNINGS RELEASE

NET FEE INCOME	MACRO Consolidated										Change
In MILLION $ (Measuring Unit Current at EOP)	3Q23		4Q23		1Q24		2Q24		3Q24		QoQ			YoY
Fees charged on deposit accounts		43,861		44,116		38,481		46,484		46,504		0	%		6	%
Credit card fees		24,451		26,338		22,660		21,005		24,838		18	%		2	%
Corporate services fees		18,634		18,425		18,234		16,934		19,898		18	%		7	%
Debit card fees		7,835		8,819		7,431		8,575		8,585		0	%		10	%
ATM transaction fees		7,149		6,793		6,800		9,148		10,908		19	%		53	%
Insurance fees		5,876		5,675		4,825		6,338		8,665		37	%		47	%
Credit related fees		2,960		4,455		4,792		8,139		7,983		-2	%		170	%
Financial agent fees (provinces)		6,618		6,057		4,619		5,760		5,447		-5	%		-18	%
Mutual funds & securities fees		4,161		5,648		3,903		4,408		5,572		26	%		34	%
AFIP & Collection services		234		208		166		186		199		7	%		-15	%
ANSES fees		63		43		20		17		16		-6	%		-75	%
Total fee income		121,842		126,577		111,931		126,994		138,615		9	%		14	%

Total fee expense		12,175		14,558		13,467		18,337		20,807		13	%		71	%

Net fee income		109,667		112,019		98,464		108,657		117,808		8	%		7	%

In 3Q24 Net Income from financial assets and liabilities at fair value through profit or loss totaled a Ps.103.6 billion gain, decreasing 24% or Ps.32.3 billion in the quarter. This result was mainly due to a 4% decrease in income from government securities and 58% decrease in income from private securities.

In 3Q24 Net Income from financial assets and liabilities at fair value through profit or loss decreased 24%QoQ.

NET INCOME FROM FINANCIAL ASSETS AND LIABILITIES AT FAIR VALUE THROUGH PROFIT OR LOSS	MACRO Consolidated										Change
In MILLION $ (Measuring Unit Current at EOP)	3Q23		4Q23		1Q24		2Q24		3Q24		QoQ			YoY
Profit or loss from government securities		-187,771		1,683,591		1,700,701		119,851		114,476		-4	%		-161	%
Profit or loss from private securities		49,513		72,832		8,747		9,833		4,154		-58	%		-92	%
Profit or loss from investment in derivative financing instruments		2,554		31,061		6,867		4,858		3,190		-34	%		25	%
Profit or loss from other financial assets		-3,235		4,930		4,208		1,788		1,026		-43	%		-132	%
Profit or loss from investment in equity instruments		5,535		1,391		578		2,372		465		-80	%		-92	%
Profit or loss from the sale of financial assets at fair value		22,399		12,941		-19,282		1,336		4,107		-			-
Income from financial assets at fair value through profit or loss		-111,005		1,806,746		1,701,819		140,038		127,418		-9	%		-

Profit or loss from derivative financing instruments		-1,341		-2,135		-10,115		-4,136		-23,833		-			-
Income from financial liabilities at fair value through profit or loss		-1,341		-2,135		-10,115		-4,136		-23,833		-			-

NET INCOME FROM FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS		-112,346		1,804,611		1,691,704		135,902		103,585		-24	%		-

BANCO MACRO

3Q24 EARNINGS RELEASE

In the quarter, Other Operating Income totaled Ps.45 billion, 7% or Ps.3.3 billion lower than in 2Q24. Others decreased 49% or Ps.6.7 billion while income from initial recognition of financial assets and liabilities decreased 141% or Ps.2.8 billion. Other service related fees increased 31% or Ps.5.6 billion. On a yearly basis, Other Operating Income increased 29% or Ps.10.1 billion.

OTHER OPERATING INCOME	MACRO Consolidated										Change
In MILLION $ (Measuring Unit Current at EOP)	3Q23		4Q23		1Q24		2Q24		3Q24		QoQ			YoY
Credit and debit cards		4,851		6,154		5,047		6,115		8,429		38	%		74	%
Lease of safe deposit boxes		3,241		3,729		3,464		4,006		4,357		9	%		34	%
Other service related fees		12,838		15,082		17,072		17,708		23,265		31	%		81	%
Other adjustments and interest from other receivables		9,133		12,359		19,039		8,629		6,799		-21	%		-26	%
Initial recognition of loans		-		-		6,863		-2,013		-4,850		-			-
Sale of property, plant and equipment		-7		70		2		51		-31		-161	%		343	%
Others		4,808		13,326		7,477		13,769		7,039		-49	%		46	%
Other Operating Income		34,864		50,720		58,964		48,265		45,008		-7	%		29	%

In 3Q24 Banco Macro’s administrative expenses plus employee benefits totaled Ps.251.9 billion, 11% or Ps.24.9 billion higher than the previous quarter, due to higher employee benefits (+6%) and higher (+22%) administrative expenses. On a yearly basis, administrative expenses plus employee benefits increased 23% or Ps.47.4 billion.

Employee benefits increased 6% or Ps.8.7 billion QoQ, remunerations increased 8% or Ps.8.3 billion while Employee services increased 35% or Ps.1.6 billion. On a yearly basis, Employee benefits increased 21% or Ps.22.4 billion.

In 3Q24, administrative expenses increased 22% or Ps.16.2 billion, due to higher Directors and auditors fees and higher Other administrative expenses. On a yearly basis administrative expenses increased 27% or Ps.18.9 billion.

In 3Q24, the efficiency ratio reached 36.3%, improving significantly from the 55.6% posted in 2Q24 and deteriorating from the 22.4% posted a year ago. In 3Q24 expenses (employee benefits + G&A expenses + depreciation and impairment of assets) increased 10%, while income (net interest income + net fee income + differences in quoted prices of gold and foreign currency + other operating income + net income from financial assets at fair value through profit or loss – (Turnover Tax + Insurance on deposits)) increased 68% compared to 2Q24.

BANCO MACRO

3Q24 EARNINGS RELEASE

PERSONNEL& ADMINISTRATIVE EXPENSES	MACRO Consolidated															Change
In MILLION $ (Measuring Unit Current at EOP)	3Q23			4Q23			1Q24			2Q24			3Q24			QoQ			YoY
Employee benefits		133,241			179,320			177,344			152,986			161,679			6	%		21	%
Remunerations		92,189			119,318			121,516			104,648			112,982			8	%		23	%
Social Security Contributions		22,870			31,249			29,134			26,139			27,204			4	%		19	%
Compensation and bonuses		13,799			24,021			22,362			17,773			15,500			-13	%		12	%
Employee services		4,383			4,732			4,332			4,426			5,993			35	%		37	%
Administrative Expenses		71,308			128,039			91,615			74,088			90,253			22	%		27	%
Taxes		14,883			18,134			15,672			20,951			16,618			-21	%		12	%
Maintenance, conservation fees		9,982			13,956			12,861			12,556			13,274			6	%		33	%
Directors& statutory auditors fees		4,089			39,653			16,001			-10,004			4,232			-			-
Security services		6,041			6,464			5,335			6,753			8,102			20	%		34	%
Electricity& Communications		5,215			4,935			6,789			7,175			6,752			-6	%		29	%
Other professional fees		7,777			11,944			7,533			8,672			9,535			10	%		23	%
Rental agreements		213			197			576			254			266			5	%		25	%
Advertising& publicity		5,729			6,540			3,700			4,752			5,663			19	%		-1	%
Personnel allowances		1,405			1,747			1,004			1,477			1,361			-8	%		-3	%
Stationary& Office Supplies		494			653			481			484			445			-8	%		-10	%
Insurance		626			634			448			1,021			1,175			15	%		88	%
Hired administrative services		1,229			2,581			3,818			9,423			6,285			-33	%		411	%
Other		13,625			20,601			17,397			10,574			16,545			56	%		21	%
Total Administrative Expenses		204,549			307,359			268,959			227,074			251,932			11	%		23	%

Total Employees		7,765			9,192			9,166			9,175			9,109
Branches		461			519			517			515			515
Efficiency ratio		22.4	%		13.6	%		14.7	%		55.6	%		36.3	%

Accumulated efficiency ratio		23.0	%		18.6	%		14.7	%		22.2	%		25.5	%

In 2Q24, Other Operating Expenses totaled Ps.142.9 billion, decreasing 3% or Ps.4.8 billion QoQ, due to lower Other operating expenses (25% or Ps.17.5billion), while Initial recognition charges on financial assets and liabilities increased Ps.10.2 billion. On a yearly basis, Other Operating Expenses decreased 2% or Ps.2.3 billion.

OTHER OPERATING EXPENSES	MACRO Consolidated										Change
In MILLION $ (Measuring Unit Current at EOP)	3Q23		4Q23		1Q24		2Q24		3Q24		QoQ			YoY
Turnover Tax		85,011		141,323		123,377		69,125		71,233		3	%		-16	%
Other provision charges		2,721		7,628		4,946.00		3,590		4,264		19	%		57	%
Deposit Guarantee Fund Contributions		2,974		2,498		2,243		2,633		2,872		9	%		-3	%
Donations		283		374		704		605		222		-63	%		-22	%
Insurance claims		1,197		1,613		1,500		1,782		1,644		-8	%		37	%
Initial loan recognition		1,714		12,002		0		0		10,192		-100	%		100	%
Late charges and charges payable to the Central Bank		1		21		4		10		6		-40	%		500	%
Others		51,314		60,027		52,803		69,963		52,456		-25	%		2	%
Other Operating Expenses		145,215		225,486		185,577		147,708		142,889		-3	%		-2	%

BANCO MACRO

3Q24 EARNINGS RELEASE

In 2Q24, the result from the net monetary position totaled a Ps.283.9 billion loss, 45% or Ps.234.8 billion lower than the loss posted in 2Q24 and 57% or Ps.383.3 billion lower than the loss posted one year ago. This result is a consequence of lower inflation during the quarter (inflation decreased to 12.1% in 3Q24 from 18.6% in 2Q24)

OPERATING RESULT	MACRO consolidated										Change
In MILLION $ (Measuring Unit Current at EOP)	3Q23		4Q23		1Q24		2Q24		3Q24		QoQ			YoY
Operating Result (exc. Loss from net monetary position)		726,193		2,096,163		1,667,123		111,089		403,729		263	%		-44	%
Result from net monetary position (i.e. inflation adjustment)		-667,194		-1,059,942		-1,181,915		-518,731		-283,895		-45	%		-57	%
Operating Result (Inc. Loss from net monetary position)		58,999		1,036,221		485,208		-407,642		119,834		-			103	%

In 3Q24, Banco Macro's effective tax rate was 24.4%, lower than the 60.5% registered in 3Q23.

For more information, please see note 21 “Income Tax” of our Financial Statements.

BANCO MACRO

3Q24 EARNINGS RELEASE

Financial Assets

.04

Loans and other financing

The volume of financing (including loans, financial trust and leasing portfolio) totaled Ps.4.55 triillion, increasing 17% or Ps.657.9 billion QoQ and 28% or Ps.988 billion YoY. In 3Q24 Private sector loans increased 18% or Ps.669.3 billion. On a yearly basis Private sector loans increased 27% or Ps.963 billion.

Within commercial loans, Overdrafts stand out with a 46% or Ps.212.5 billion increase, while Documents decreased 12% or Ps.83.5 billion.

Within consumer lending, personal loans increased 43% or Ps.235.5 billion while credit card loans increased 25% or Ps.227.1 billion.

Within private sector financing, peso financing increased 19% or Ps.616.7 billion, while US dollar financing decreased 1% or USD 6 million.

As of 3Q24, Banco Macro’s market share over private sector loans was 9.2%.

LOANS AND OTHER FINANCING	MACRO Consilidated															Change
In MILLION $ (Measuring Unit Current at EOP)	3Q23			4Q23			1Q24			2Q24			3Q24			QoQ			YoY
Public Sector		9,767			9,508			3,746			50,535			44,439			-12	%		355	%
Finacial Sector		44,923			20,088			26,108			40,646			35,278			-13	%		-21	%
Financial Sector		44,995			20,135			26,137			40,663			35,381			-13	%		-21	%
Less: Expected Credit Losses		-72			-47			-29			-17			-103			506	%		43	%
Private Sector		3,509,366			3,666,711			3,294,667			3,803,044			4,472,386			18	%		27	%
Overdrafts		348,799			580,350			457,272			466,678			679,141			46	%		95	%
Discounted documents		668,185			681,987			668,684			717,561			634,079			-12	%		-5	%
Mortgage loans		336,395			337,161			326,978			352,570			386,541			10	%		15	%
Pledged loans		57,901			56,699			43,777			74,590			98,927			33	%		71	%
Personal loans		612,985			480,233			420,641			550,738			786,241			43	%		28	%
Credit Card loans		1,054,697			977,203			801,529			891,931			1,119,035			25	%		6	%
Leasing		4,485			19,127			13,370			12,817			14,726			15	%		228	%
Others		492,941			642,048			654,392			826,189			848,910			3	%		72	%
Less: Expected Credit Losses		-67,022			-108,097			-91,976			-90,030			-95,214			6	%		42	%
Total loans and other financing		3,564,056			3,696,307			3,324,521			3,894,225			4,552,103			17	%		28	%

Total loans in Pesos		3,325,812			3,333,499			2,650,253			3,175,753			3,792,442			19	%		14	%

Total loans in foreign currency		238,244			362,808			674,268			718,472			759,661			6	%		219	%

EOP FX (Pesos per USD)		350.0083			808.4833			857.4167			911.7500			970.9167			6	%		177	%

Total loans in foreign currency (USD)		681			449			786			788			782			-1	%		15	%
USD financing / Financing to the private sector		7	%		10	%		20	%		18	%		17	%

BANCO MACRO

3Q24 EARNINGS RELEASE

Public Sector Assets

.05

In 3Q24, the Bank’s public sector assets to total assets ratio was 27%, lower than the 42.8% registered in the previous quarter, and higher than the 25.1% posted in 3Q23. Other government securities decreased 32% or Ps.1.72 trillion (namely CER inflation adjusted Bonds).

In 3Q24, a 32% or Ps.1.77 trillion decrease in Government Securities stands out.

PUBLIC SECTOR ASSETS	MACRO Consolidated															Change
In MILLION $ (Measuring Unit Current at EOP)	3Q23			4Q23			1Q24			2Q24			3Q24			QoQ			YoY
SECURITIES AT FAIR VALUE THROUGH PROFIT OR LOSS
Government Securities in Pesos		15,639			10,938			9,802			23,876			439,914			1743	%		2713	%
CER adjusted Governement Securities		19,434			27,346			5,595,116			4,829,790			445,524			-91	%		2193	%
Government Securities in USD		306,549			427,666			61,084			83,468			79,246			-5	%		-74	%
DUAL Bonds		2,064,050			2,999,876			19,975			16,261			-			-100	%		-
Total Government Securities at fair value through profit or loss		2,405,672			3,465,826			5,685,977			4,953,395			964,684			-81	%		-60	%

SECURITIES AT AMORTIZED COST
Government Securities in Pesos		253,963			193,646			194,145			213,503			269,503			26	%		6	%
CER adjusted Governement Securities		-			-			-			-			2,191,457			-			-
Leliqs		1,291,668			-			-			-			-			-			-
Lediv		108,207			66,657			12,311			5,623			5,340			-5	%		-95	%
Total Government Securities at amortized cost		1,653,838			260,303			206,456			219,126			2,466,300			1026	%		49	%

SECURITIES AT FAIR VALUE THROUGH O.C.I
Government Securities in Pesos		-			24,228			21,076			16,272			-			-100	%		-
CER adjusted Governement Securities		163,960			467,780			344,104			329,448			328,332			0	%		100	%
Government Securities in USD		38,829			95,982			61,195			55,428			48,150			-13	%		24	%
Total Government Securities at fair value through O.C.I		202,789			587,990			426,375			401,148			376,482			-6	%		86	%

TOTAL GOVERNMENT SECURITIES		4,262,299			4,314,119			6,318,808			5,573,669			3,807,466			-32	%		-11	%

Provincial Loans		6,684			6,491			1,265			47,144			41,349			-12	%		519	%
Government securities loans		5,031			5,209			27,553			934			-			-100	%		-
TOTAL LOANS		11,715			11,700			28,818			48,078			41,349			-14	%		253	%

TOTAL PUBLIC SECTOR ASSETS		4,274,014			4,325,819			6,347,626			5,621,747			3,848,815			-32	%		-10	%

TOTAL PUBLIC SECTOR ASSETS (net of Leliq/Lediv)		2,874,139			4,259,162			6,335,315			5,616,124			3,843,475			-32	%		34	%

TOTAL PUBLIC SECTOR ASSETS (net of Leliq/Lediv) / TOTAL ASSETS		25.1	%		31.4	%		47.7	%		42.8	%		27.0	%

BANCO MACRO

3Q24 EARNINGS RELEASE

Funding

.06

Deposits

Banco Macro’s deposit base totaled Ps.8.1 trillion in 3Q24, increasing 7% or Ps.516 billion QoQ and 30% or Ps.1.87 trillion YoY, representing 76% of the Bank’s total liabilities.

On a quarterly basis private sector deposits increased 6% or Ps.401.7 billion while public sector deposits increased 12% or Ps.104.6 billion.

The increase in private sector deposits was led by demand deposits, which increased 28% or Ps.999.7 billion (including Special Saving Accounts related to the Tax Amnesty), while time deposits decreased 32% or Ps.829.5 billion QoQ.

Within private sector deposits, peso deposits decreased 15% or Ps.941.7 billion, while US dollar deposits increased 87% or USD 1.4 billion.

As of 3Q24, Banco Macro´s market share over private sector deposits was 7.4%.

DEPOSITS	MACRO Consolidated															Change
In MILLION $ (Measuring Unit Current at EOP)	3Q23			4Q23			1Q24			2Q24			3Q24			QoQ			YoY
Public sector		549,118			377,159			688,475			892,400			997,003			12	%		82	%

Financial sector		10,668			40,690			17,777			13,435			23,121			72	%		117	%

Private sector		5,648,525			6,375,914			5,988,780			6,651,998			7,053,746			6	%		25	%
Checking accounts		777,323			1,027,300			719,626			916,573			880,093			-4	%		13	%
Savings accounts		1,998,587			2,882,665			2,156,893			2,611,954			3,648,131			40	%		83	%
Time deposits		2,744,208			2,113,046			2,674,646			2,613,550			1,784,049			-32	%		-35	%
Investment accounts		20,162			252,410			348,691			421,998			647,331			53	%		3111	%
Other		108,245			100,493			88,924			87,923			94,142
Total		6,208,311			6,793,763			6,695,032			7,557,833			8,073,870			7	%		30	%

Pesos		5,239,861			4,730,651			5,216,162			6,084,717			5,143,065			-15	%		-2	%
Foreign Currency (in Pesos)		968,450			2,063,112			1,478,870			1,473,116			2,930,805			99	%		203	%

EOP FX (Pesos per USD)		350.0083			808.4833			857.4167			911.7500			970.9167			6	%		177	%
Foreign Currency (USD)		2,767			2,552			1,725			1,616			3,019			87	%		9	%

USD Deposits / Total Deposits		16	%		30	%		22	%		19	%		36	%

Banco Macro’s transactional deposits represent approximately 62% of its total deposit base as of 3Q24. These accounts are low cost and are not sensitive to interest rate increases.

BANCO MACRO

3Q24 EARNINGS RELEASE

Other sources of funds

In 3Q24, the total amount of other sources of funds increased 1% or Ps.45.5 billion compared to 2Q24 mainly due to a 2% or Ps.61.8 billion increase in Shareholders’ equity generated by the positive net income registered during the period. Subordinated corporate bonds decreased 4% or Ps.14.8 billion. On a yearly basis, other sources of funds increased 15% or Ps.537.5 billion.

OTHER SOURCES OF FUNDS	MACRO Consolidated										Change
In MILLION $ (Measuring Unit Current at EOP)	3Q23		4Q23		1Q24		2Q24		3Q24		QoQ			YoY
Central Bank of Argentina		167		174		82		88		85		-3	%		-49	%
Banks and international institutions		16,035		30,684		24,664		22,517		23,748		5	%		48	%
Financing received from Argentine financial institutions		814		9,054		1,503		1,399		680		-51	%		-16	%
Subordinated corporate bonds		446,455		661,645		470,061		414,341		399,545		-4	%		-11	%
Corporate bonds		16,851		118,659		89,314		67,194		65,198		-3	%		287	%
Shareholders' equity		3,113,404		4,120,645		4,467,263		3,580,163		3,641,918		2	%		17	%
Total other source of funds		3,593,726		4,940,861		5,052,887		4,085,702		4,131,174		1	%		15	%

BANCO MACRO

3Q24 EARNINGS RELEASE

Liquid Assets

.07

In 3Q24, the Bank’s liquid assets amounted to Ps.7.35 trillion, showing an 1% or Ps.67.3 billion decrease QoQ, and a 20% or Ps.1.23 trillion increase on a yearly basis.Other Government Securities decreased 32% or Ps.1.72 trillion, mainly CER Adjusted Bonds, which was partially offset by an 89% or Ps.1.63 trillion increase in cash.

In 3Q24 Other Government securities decreased 13% or Ps.1.72 trillion while Cash increased 89% or Ps.1.64 trillion.

In 3Q24, Banco Macro’s liquid assets to total deposits ratio reached 91%.

LIQUID ASSETS	MACRO Consolidated															Change
In MILLION $ (Measuring Unit Current at EOP)	3Q23			4Q23			1Q24			2Q24			3Q24			QoQ			YoY
Cash		1,382,868			2,425,231			1,528,220			1,831,583			3,468,228			89	%		151	%
Guarantees for compensating chambers		101,663			137,312			132,440			118,741			126,259			6	%		24	%
Call		-			10,885.00			-11,249			4,934			14,000			184	%		-
Leliq own portfolio		1,306,928			-			-			-			-			-			-100	%
Net Repos		471,991			1,230,680			368,913			-			1			-			-100	%
Other government & private securities		2,855,211			4,186,890			6,291,383			5,461,170			3,740,693			-32	%		31	%
Total		6,118,661			7,990,998			8,309,707			7,416,428			7,349,181			-1	%		20	%

Liquid assets to total deposits		99	%		118	%		124	%		98	%		91	%

BANCO MACRO

3Q24 EARNINGS RELEASE

Solvency

.08

Banco Macro continued showing high solvency levels in 3Q24 with an integrated capital (RPC) of Ps.3.4 trillion over a total capital requirement of Ps.833.8 billion. Banco Macro’s excess capital in 3Q24 was 303% or Ps.2.53 trillion.

The Capital Adequacy Ratio (as a percentage of risk-weighted assets- RWA) was 32.8% in 3Q24; TIER1 Ratio stood at 31.3%.

The Bank’s aim is to make THE BEST USE OF THIS EXCESS CAPITAL.

MINIMUM CAPITAL REQUIREMENT	MACRO Consolidated											Change
In MILLION $		3Q23		4Q23		1Q24		2Q24		3Q24			QoQ		YoY
Credit risk requirement		124,155		250,774		312,304		398,956		500,273			25	%	303	%
Market risk requirement		19,898		38,335		39,647		48,217		40,485			-16	%	103	%
Operational risk requirement		71,224		114,388		196,966		249,263		293,003			18	%	311	%
Total capital requirements		215,276		403,497		548,917		696,436		833,762			20	%	287	%

Ordinary Capital Level 1 (COn1)		979,304		1,745,360		3,184,428		3,149,367		3,553,842			13	%	263	%
Deductible concepts Level 1 (COn1)		-59,469		-121,538		-180,391		-241,637		-346,879			44	%	483	%
Capital Level 2 (COn2)		83,763		128,995		136,797		145,407		154,755			6	%	85	%
Integrated capital - RPC (i)		1,003,598		1,752,832		3,140,849		3,053,153		3,361,733			10	%	235	%

Excess capital		788,322		1,349,335		2,591,932		2,356,717		2,527,971			7	%	221	%

Risk-weighted assets - RWA (ii)		2,645,752		4,952,407		6,747,756		8,560,197		10,239,883			20	%	287	%

Regulatory Capital ratio [(i)/(ii)]		37.9	%	35.4	%	46.5	%	35.7	%	32.8	%

Ratio TIER 1 [Capital Level 1/RWA]		34.8	%	32.8	%	44.5	%	34.0	%	31.3	%

RWA - (ii): Risk Weighted Assets, considering total capital requirements.

BANCO MACRO

3Q24 EARNINGS RELEASE

Asset Quality

.09

In 3Q24, Banco Macro’s non-performing to total financing ratio (under Central Bank rules) reached a level of 1.15%, down from 1.23% in 2Q24 and improving from the 1.39% posted in 3Q23.

Consumer portfolio non-performing loans improved 12 b.p. (down to 1.4% from 1.52%) while Commercial portfolio non-performing loans improved 6 b.p. in 3Q24 (down to 0.67% from 0.73%).

The coverage ratio (measured as total allowances under Expected Credit Losses over Non Performing loans under Central Bank rules) reached 177.6% in 3Q24. Write-offs over total loans totaled 0.10%.

The Bank is committed to continue working in this area to maintain excellent asset quality standards.

ASSET QUALITY	MACRO Consolidated											Change
In MILLION $ (Measuring Unit Current at EOP)		3Q23		4Q23		1Q24		2Q24		3Q24			QoQ		YoY
Commercial portfolio		939,036		1,825,338		1,659,256		1,607,830		1,701,561			6	%	81	%
Non-performing		10,725		21,989		11,928		11,712		11,404			-3	%	6	%
Consumer portfolio		2,833,522		2,552,057		2,128,074		2,692,646		3,309,508			23	%	17	%
Non-performing		41,802		34,434		31,225		40,973		46,242			13	%	11	%
Total portfolio		3,772,558		4,377,395		3,787,330		4,300,476		5,011,069			17	%	33	%
Non-performing		52,527		56,423		43,153		52,685		57,646			9	%	10	%
Commercial non-perfoming ratio		1.14	%	1.20	%	0.72	%	0.73	%	0.67	%
Consumer non-perfoming ratio		1.48	%	1.35	%	1.47	%	1.52	%	1.40	%

Total non-performing/ Total portfolio		1.39	%	1.29	%	1.14	%	1.23	%	1.15	%

Total allowances		70,350		113,361		96,103		95,558		102,362			7	%	46	%
Coverage ratio w/allowances		133.93	%	200.91	%	222.70	%	181.38	%	177.57	%
Write Offs		3,059		3,393		2,434		1,907		5,001			162	%	63	%
Write Offs/ Total portfolio		0.08	%	0.08	%	0.06	%	0.04	%	0.10	%

Expected Credit Losses (E.C.L) (I.F.R.S.9)

The Bank records an allowance for expected credit losses for all loans and other debt financial assets not held at fair value through profit or loss, together with loan commitments and financial guarantee contracts, in this section all referred to as ‘financial instruments’. Equity instruments are not subject to impairment under IFRS 9. The ECL allowance is based on the credit losses expected to arise over the life of the asset (the lifetime expected credit loss), unless there has been no significant increase in credit risk since origination, in which case, the allowance is based on the 12 months expected credit loss.(For further information please see our 2023 20-F)

BANCO MACRO

3Q24 EARNINGS RELEASE

3Q24 Snapshot

.10

In AR$ Million. Figures of previous quarters have been restated to reflect the accumulated effect of the inflation adjustment for each period through September 30, 2024

BANCO MACRO

3Q24 EARNINGS RELEASE

BANCO MACRO

3Q24 EARNINGS RELEASE

BANCO MACRO

3Q24 EARNINGS RELEASE

Relevant and Recent Events

.11

· Interest Payment Series A Subordinated Notes

On November 4^th, 2024 the Bank paid semiannual interest on Series A subordinated notes in the amount of USD 13,286,000.

· Principal and Interest Payment Series F Dollar denominated Notes

On October 31^st, 2024 the Bank paid principal and interest on Class E dollar denominated notes in the amount of USD 54,335,890

· Merger with BMA S.A.U (Formerly Banco Itaú Argentina)

·      On November 1^st, 2024 the Central Bank of Argentina decided to authorize the merger of Banco BMA S.A.U. into Banco Macro S.A., the latter being the surviving company and Banco BMA S.A.U. the merged company. Therefore, the Bank will proceed and complete all operating acts, proceedings and steps necessary to conclude the above mentioned merger process. On November 19, 2024 Banco Macro completed the merger by absorption of Banco BMA S.A.U.

BANCO MACRO

3Q24 EARNINGS RELEASE

Regulatory Changes

.12

· Monetary Policy Rate

·     On November 1, 2024: The Central Bank of Argentina decided to cut the monetary policy rate by 5 percentage points. New monetary policy rate was set at 35% APR (from 40%) and the Repo Rate 40% (from 45%)

BANCO MACRO

3Q24 EARNINGS RELEASE

CER Exposure and Foreign Currency Position

.13

CER EXPOSURE	MACRO Consolidated						Change
In MILLION $ (Measuring Unit Current at EOP)		3Q23	4Q23	1Q24	2Q24	3Q24		QoQ		YoY
CER adjustable ASSETS

Government Securities		183,395	495,127	5,939,205	5,151,183	2,938,542		-43	%	1502	%

Loans (*)		250,626	250,353	269,100	300,718	325,187		8	%	30	%
Private sector loans		36,980	39,286	28,974	34,581	57,609		67	%	56	%
Mortgage loans (UVA adjusted)		213,446	210,942	240,122	266,133	267,574		1	%	25	%
Other loans		200	125	4	4	4		0	%	-98	%
Total CER adjustable assets		434,021	745,480	6,208,305	5,451,901	3,263,729		-40	%	652	%

CER adjustable LIABILITIES
Deposits *()**		14,836	69,555	50,412	49,052	26,861		-45	%	81	%
UVA Unemployment fund		30,342	25,198	25,423	29,489	31,713		8	%	5	%
Total CER adjustable liabilities		45,178	94,753	75,835	78,541	58,574		-25	%	30	%

NET CER EXPOSURE		388,843	650,727	6,132,470	5,373,360	3,205,155		-40	%	724	%

(*) Includes Loans &Time Deposits CER adjustable (UVAs)

FOREIGN CURRENCY POSITION	MACRO Consolidated										Change
In MILLION $ (Measuring Unit Current at EOP)	3Q23		4Q23		1Q24		2Q24		3Q24		QoQ			YoY
Cash and deposits in Banks		1,182,778		2,258,451		1,319,385		1,228,367		3,027,607		146	%		156	%
Cash		221,792		680,666		336,310		175,708		1,032,336		488	%		365	%
Central Bank of Argentina		587,830		993,924		507,208		566,353		1,236,645		118	%		110	%
Other financial institutions local and abroad		373,084		583,747		475,211		485,689		369,026		-24	%		-1	%
Others		73		114		656		617		389,600		63044	%		533599	%
Financial instruments at fair value through P&L		2,474,310		3,502,233		162,206		176,037		146,807		-17	%		-94	%
Other financial assets		104,534		159,615		138,792		122,578		96,662		-21	%		-8	%
Loans and other financing		238,244		362,808		674,268		718,472		759,661		6	%		219	%
Non financial private sector & foreign residents		238,244		362,808		674,268		718,472		759,661		6	%		219	%
Other debt securities		156,602		178,694		84,527		70,092		59,221		-16	%		-62	%
Guarantees received		45,015		112,409		32,479		32,399		26,851		-17	%		-40	%
Investment in equity instruments		1,379		693		495		254		258		2	%		-81	%
Total Assets		4,202,862		6,574,903		2,412,152		2,348,199		4,117,067		75	%		-2	%
Deposits		968,450		2,063,112		1,478,870		1,473,116		2,930,805		99	%		203	%
Non financial public sector		37,795		69,210		27,804		47,001		68,254		45	%		81	%
Financial sector		9,506		14,324		10,019		9,012		8,536		-5	%		-10	%
Non financial private sector & foreign residents		921,148		1,979,578		1,441,047		1,417,103		2,854,015		101	%		210	%
Financial liabiities at fair value through P&L		32,553		27,854		18,884		14,986		1,416		-91	%		-96	%
Other liabilities from financial intermediation		120,144		174,110		195,327		211,968		589,631		178	%		391	%
Financing from the Central Bank and other fin. Inst		16,285		30,990		25,033		22,669		23,904		5	%		47	%
Issued corporate bonds		16,851		108,553		77,969		54,492		52,367		-4	%		211	%
Subordinated corporate bonds		446,455		661,645		470,061		414,341		399,545		-4	%		-11	%
Other non financial liabilities		3,719		9,125		5,636		5,410		4,753		-12	%		28	%
Total Liabilities		1,604,457		3,075,389		2,271,780		2,196,982		4,002,421		82	%		149	%

NET FX POSITION (Pesos)		2,598,405		3,499,514		140,372		151,217		114,646		-24	%		-96	%
EOP FX (Pesos per USD)		350.0083		808.4833		857.4167		911.7500		970.9167		6	%		177	%
NET FX POSITION (USD)		7,424		4,328		164		166		118		-29	%		-98	%

BANCO MACRO

3Q24 EARNINGS RELEASE

QUARTERLY BALANCE SHEET	MACRO Consolidated										Change
In MILLION $ (Measuring Unit Current at EOP)	3Q23		4Q23		1Q24		2Q24		3Q24		QoQ			YoY
ASSETS
Cash and deposits in Banks		1,382,868		2,425,231		1,528,220		1,831,583		3,468,228		89	%		151	%
Cash		331,825		800,997		452,300		269,750		1,167,673		333	%		252	%
Central Bank of Argentina		677,868		1,040,049		600,039		1,075,485		1,541,877		43	%		127	%
Other local & foreign entities		373,101		584,072		475,224		485,731		369,078		-24	%		-1	%
Other		74		113		657		617		389,600		63044	%		526386	%
Debt securities at fair value through profit & loss		2,498,392		3,531,928		5,760,706		5,031,607		1,032,842		-79	%		-59	%
Derivatives		2,376		26,494		76,554		52,435		21,085		-100	%		787	%
Repo Transactions		486,258		1,240,897		371,187		0		1		-			-100	%
Other financial assets		577,803		405,946		303,432		388,602		981,267		153	%		70	%
Loans & other receivables		3,564,056		3,696,307		3,324,521		3,894,225		4,552,103		17	%		28	%
Non Financial Public Sector		9,767		9,508		3,746		50,535		44,439		-12	%		355	%
Financial Sector		44,923		20,088		26,108		40,646		35,278		-13	%		-21	%
Non Financial private sector and foreign		3,509,366		3,666,711		3,294,667		3,803,044		4,472,386		18	%		27	%
Other debt securities		1,866,597		870,413		648,040		631,934		2,850,502		351	%		53	%
Financial assets in guarantee		179,819		267,885		226,273		180,113		190,007		5	%		6	%
Income tax assets		0		1,769		1,373		56,655		84,306
Investments in equity instruments		7,339		6,478		4,411		7,189		6,792		-6	%		-7	%
Investments in other companies (subsidiaries and joint ventures)		4,443		3,397		2,876		3,028		4,662		54	%		5	%
Property, plant and equipment		643,474		719,215		721,894		725,044		730,953		1	%		14	%
Intangible assets		110,513		151,530		146,871		144,128		140,643		-2	%		27	%
Deferred income tax assets		1,129		2,007		1,680		2,089		2,000		-4	%		77	%
Other non financial assets		81,412		110,432		89,878		90,765		91,202		0	%		12	%
Non-current assets held for sale		52,131		84,440		84,488		81,350		81,171		0	%		56	%
TOTAL ASSETS		11,458,610		13,544,369		13,292,404		13,120,747		14,237,764		9	%		24	%

LIABILITIES
Deposits		6,208,311		6,793,763		6,695,032		7,557,833		8,073,870		7	%		30	%
Non Financial Public Sector		549,118		377,159		688,475		892,400		997,003		12	%		82	%
Financial Sector		10,668		40,690		17,777		13,435		23,121		72	%		117	%
Non Financial private sector and foreign		5,648,525		6,375,914		5,988,780		6,651,998		7,053,746		6	%		25	%
Liabilities at fair value through profit & loss		32,553		27,870		26,413		59,399		1,416		-98	%		-96	%
Derivatives		122		5,721		7,911		374		1,438		284	%		1079	%
Repo Transactions		119,876		47,576		27,729		-		-		-			-86	%
Other financial liabilities		991,944		754,904		630,515		848,873		1,637,118		93	%		65	%
Financing received from Central Bank and Other Financial Institutions		17,016		39,911		26,249		24,004		24,512		2	%		44	%
Issued Corporate Bonds		16,851		118,659		89,314		67,194		65,198		-3	%		287	%
Current income tax liabilities		77,359		431,149		425,125		4,516		9,617		113	%		-88	%
Subordinated corporate bonds		446,455		661,645		470,061		414,341		399,545		-4	%		-11	%
Provisions		12,175		17,625		15,631		15,420		16,624		8	%		37	%
Deferred income tax liabilities		77,986		92,206		79,664		43,717		47,243		8	%		-39	%
Other non financial liabilities		344,047		431,756		331,149		504,040		318,424		-37	%		-7	%
TOTAL LIABILITIES		8,344,695		9,422,785		8,824,793		9,539,711		10,595,005		11	%		27	%

SHAREHOLDERS' EQUITY
Capital Stock		639		639		639		639		639		0	%		0	%
Issued Shares premium		12,430		12,430		12,430		12,430		12,430		0	%		0	%
Adjustment to Shareholders' Equity		1,156,780		1,156,780		1,156,780		1,156,780		1,156,780		0	%		0	%
Reserves		1,684,506		1,684,506		1,684,506		2,296,984		2,296,984		0	%		36	%
Retained earnings		1,229		1,229		1,185,122		1,380		1,380		0	%		12	%
Other accumulated comprehensive income		498		81,168		61,616		7,843		-21,275		-371	%		-
Net income for the period / fiscal year		257,322		1,183,893		366,170		104,107		194,980		87	%		-24	%
Shareholders' Equity attributable to parent company		3,113,404		4,120,645		4,467,263		3,580,163		3,641,918		2	%		17	%

Shareholders' Equity attributable to non controlling interest		511		939		348		873		841		-4	%		65	%
TOTAL SHAREHOLDERS' EQUITY		3,113,915		4,121,584		4,467,611		3,581,036		3,642,759		2	%		17	%

BANCO MACRO

3Q24 EARNINGS RELEASE

INCOME STATEMENT	MACRO Consolidated										Change
In MILLION $ (Measuring Unit Current at EOP)	3Q23		4Q23		1Q24		2Q24		3Q24		QoQ			YoY
Interest Income		1,326,007		1,155,648		950,277		697,123		857,561		23	%		-35	%
Interest Expense		977,787		785,361		727,567		484,088		288,430		-40	%		-71	%
Net Interest Income		348,220		370,287		222,710		213,035		569,131		167	%		63	%
Fee income		121,842		126,577		111,931		126,994		138,615		9	%		14	%
Fee expense		12,175		14,558		13,467		18,337		20,807		13	%		71	%
Net Fee Income		109,667		112,019		98,464		108,657		117,808		8	%		7	%
Subtotal (Net Interest Income + Net Fee Income)		457,887		482,306		321,174		321,692		686,939		114	%		50	%
Net Income from financial instruments at Fair Value Through Profit & Loss		-112,346		1,804,611		1,691,704		135,902		103,585		-24	%		-
Result from assets at amortised cost		424		266		28		-4		326		-			-23	%
Difference in quoted prices of gold and foreign currency		735,665		368,386		107,146		28,766		16,263		-43	%		-98	%
Other operating income		34,864		50,720		58,964		48,265		45,008		-7	%		29	%
Provision for loan losses		15,030		36,652		25,071		18,476		22,966		24	%		53	%
Net Operating Income		1,101,464		2,669,637		2,153,945		516,145		829,155		61	%		-25	%
Personnel expenses		133,241		179,320		177,344		152,986		161,679		6	%		21	%
Administrative expenses		71,308		128,039		91,615		74,088		90,253		22	%		27	%
Depreciation and impairment of assets		25,507		40,629		32,286		30,274		30,605		1	%		20	%
Other operating expenses		145,215		225,486		185,577		147,708		142,889		-3	%		-2	%
Operating Income		726,193		2,096,163		1,667,123		111,089		403,729		263	%		-44	%
Income from associates and joint ventures		-220		315,407		-284		-6,333		1,011		-			-
Result from net monetary position		-667,194		-1,059,942		-1,181,915		-518,731		-283,895		-			-
Net Income before income tax on cont. operations		58,779		1,351,628		484,924		-413,975		120,845		-129	%		106	%
Income tax on continuing operations		35,569		424,628		119,000		-152,438		29,524		-			-
Net Income from continuing operations		23,210		927,000		365,924		-261,537		91,321		-135	%		293	%

Net Income for the period		23,210		927,000		365,924		-261,537		91,321		-135	%		293	%
Net Income of the period attributable to parent company		23,127		926,572		366,169		-262,062		90,873		-			293	%
Net income of the period attributable to non-controlling interests		83		428		-245		525		448		-15	%		440	%

Other Comprehensive Income		7,995		-3,904		71,943		-17,436		-47,955		-			-
Foreign currency translation differences in financial statements conversion		396		20,624		-18,697		-4,731		-2,158		-			-
Profits or losses from financial assets measured at fair value through other comprehensive income (FVOCI) (IFRS 9(4.1.2)(a)		-4,774		60,046		-855		-49,041		-26,960		-			-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD		18,832		1,007,670		346,372		-315,309		62,203		-120	%		230	%
Total Comprehensive Income attributable to parent Company		18,749		1,007,242		346,617		-315,834		61,755		-			229	%
Total Comprehensive Income attributable to non-controlling interests		83		428		-245		525		448		-15	%		440	%

BANCO MACRO

3Q24 EARNINGS RELEASE

QUARTERLY ANNUALIZED RATIOS	MACRO Consolidated
	3Q23			4Q23			1Q24			2Q24			3Q24
Profitability & performance
Net interest margin		60.6	%		34.2	%		26.2	%		20.0	%		31.5	%
Net interest margin adjusted (exc. FX)		19.5	%		17.1	%		17.7	%		17.6	%		30.7	%
Net fee income ratio		5.5	%		0.7	%		1.5	%		18.4	%		11.4	%
Efficiency ratio		22.4	%		13.6	%		14.7	%		55.6	%		36.3	%
Net fee income as % of A&G Expenses		24.6	%		5.4	%		10.6	%		33.1	%		31.4	%
Return on average assets		0.8	%		20.4	%		11.9	%		-8.1	%		3.0	%
Return on average equity		3.2	%		72.6	%		37.1	%		-27.0	%		9.8	%
Liquidity
Loans as a percentage of total deposits		57.4	%		54.4	%		49.7	%		51.5	%		56.4	%
Liquid assets as a percentage of total deposits		99.0	%		118.0	%		124.0	%		98.0	%		91.0	%
Capital
Total equity as a percentage of total assets		27.2	%		30.4	%		33.6	%		27.3	%		25.6	%
Regulatory capital as % of APR		37.9	%		35.4	%		46.6	%		35.7	%		32.8	%
Asset Quality
Allowances over total loans		2.0	%		3.1	%		2.9	%		2.5	%		2.2	%
Non-performing financing as a percentage of total financing		1.4	%		1.3	%		1.1	%		1.2	%		1.2	%
Coverage ratio w/allowances		133.9	%		200.9	%		222.7	%		181.4	%		177.6	%
Cost of Risk		1.7	%		2.5	%		3.3	%		2.2	%		2.2	%

ACCUMULATED ANNUALIZED RATIOS	MACRO Consolidated
	3Q23			4Q23			1Q24			2Q24			3Q24
Profitability & performance
Net interest margin		44.4	%		41.6	%		26.2	%		23.2	%		26.8	%
Net interest margin adjusted (exc. FX)		22.8	%		21.2	%		17.7	%		17.7	%		23.3	%
Net fee income ratio		6.2	%		3.6	%		1.5	%		4.6	%		6.2	%
Efficiency ratio		23.0	%		18.6	%		14.7	%		22.2	%		25.5	%
Net fee income as % of A&G Expenses		26.9	%		19.5	%		10.6	%		20.9	%		24.5	%
Return on average assets		2.9	%		8.8	%		11.9	%		1.7	%		2.1	%
Return on average equity		12.1	%		34.8	%		37.1	%		5.3	%		6.8	%
Liquidity
Loans as a percentage of total deposits		57.4	%		54.4	%		49.7	%		51.5	%		56.4	%
Liquid assets as a percentage of total deposits		99.0	%		118.0	%		124.0	%		98.0	%		91.0	%
Capital
Total equity as a percentage of total assets		27.2	%		30.4	%		33.6	%		27.3	%		25.6	%
Regulatory capital as % of APR		37.9	%		35.4	%		46.6	%		35.7	%		32.8	%
Asset Quality
Allowances over total loans		2.0	%		3.1	%		2.9	%		2.5	%		2.2	%
Non-performing financing as a percentage of total financing		1.4	%		1.3	%		1.1	%		1.2	%		1.2	%
Coverage ratio w/allowances		133.9	%		200.9	%		222.7	%		181.4	%		177.6	%
Cost of Risk		2.1	%		2.3	%		3.3	%		2.7	%		2.5	%

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.

Date: November 27, 2024