BMA

Business Context and Reporting Period

Company: Macro Bank Inc. (Banco Macro S.A.)
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Date: June 21, 2023
Context: This filing announces the payment of the third installment of a dividend in kind to shareholders, following resolutions by the Shareholders' General Meeting and the Board of Directors, and authorization by the Central Bank of the Republic of Argentina.

Key Financial Metrics

The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the mechanics of a specific dividend distribution.

• Dividend Instrument: Bono de la Nación Argentina en Moneda Dual (Argentina's Dual Currency Public Bond) due April 30, 2024.
• Total Bonds Distributed: 57,780,007.29 nominal values.
• Capital Stock: AR$ 639,413,408.
• Dividend Ratio: 0.090364084 of the bond per share of nominal value AR$ 1.
• Dividend Value Relative to Capital: Represents 1,955.98% of the capital stock.
• Tax Withholding: 7% under section 97 of the Argentine Income Tax Law.

Material Changes

The filing does not report material changes in financial performance compared to prior periods. It details the execution of a previously authorized dividend plan, specifically the distribution of the third of six equal monthly installments.

Guidance, Outlook, and Risks

Management Commentary: The Board of Directors authorized the distribution on May 17, 2023, pursuant to Communique "A" 7719 from the Central Bank of Argentina, which permits financial entities to distribute earnings in installments.
Procedures:

• Record Date: June 28, 2023.
• Availability Date: July 3, 2023.
• ADR Holders: Dividends will be distributed through The Bank of New York Mellon as the depositary agent.
• Location: Bonds are available at Caja de Valores S.A. in Buenos Aires.

Risks/Contingencies: The total amount of dividends is subject to a 7% tax withholding. Fractions of bonds under 1 nominal value will be liquidated in Pesos at the closing price on the Record Date.

Investor Verification Checklist

• Verify the market price of the "Bono de la Nación Argentina en Moneda Dual" due April 30, 2024, to assess the actual cash value of the dividend.
• Confirm the 7% tax withholding impact on net proceeds for non-resident or specific resident shareholders.
• Check the specific procedures for ADR holders to ensure receipt of the bond distribution via The Bank of New York Mellon.
• Review the remaining five installments of the dividend plan to understand future cash flow implications for the bank.