Central Securities Depository ACSDA Leadership Forum - Buenos Aires, 2011

Agenda  Information about our Organization  Our Role as Registrar Agent  Our Role as Securities Depository  Our Role as National Numbering Agency  Our Role as IT Services Provider 27/05/2016 ACSDA Leadership Forum - Buenos Aires,

27/05/2016 ACSDA Leadership Forum - Buenos Aires, BCBA 49,98% MERVAL 49,98% Inland Stock Exchanges and Securities Markets 0,04% Our Shareholders

27/05/2016 ACSDA Leadership Forum - Buenos Aires, Caja de Valores S.A. Tecnología de Valores S.A. (2010) Garantía de Valores SGR Mutual Guarantee Company (2003) To guarantee credit operations to SME 50% share capital To diversify the IT services 95% share capital To guarantee credit operations to SME 50% share capital

27/05/2016 ACSDA Leadership Forum - Buenos Aires, Net Stockholders Equity (U$S)141 Million Final Income 2010 (U$S) 18 Million Employees420 Custody level (V$N)275 Billion Custody level (U$S)79.3 Billion Asset Servicing (U$S)27,5 Billion Some figures

27/05/2016 ACSDA Leadership Forum - Buenos Aires, Private Public Issuers Registrar Accounts Total Our role as Registrar Agent

Our role as Depository 27/05/2016 ACSDA Leadership Forum - Buenos Aires, CAJA DE VALORES S.A. DIRECT PARTICIPANT Beneficial Owner Subaccount Beneficial Owner Subaccount DIRECT PARTICIPANT Beneficial Owner Subaccount Beneficial Owner Subaccount DIRECT PARTICIPANT Beneficial Owner Subaccount Beneficial Owner Subaccount Beneficial owners are identified at the CSD Level. Depository’s and Participants’ patrimonies are segregated. Beneficial Owners’ patrimony is also segregated. Beneficial Owners can access their account’s balance through Internet facilities

27/05/2016 ACSDA Leadership Forum - Buenos Aires, Direct Participant Accounts With Balance Without Balance TOTAL Beneficial Owner Subaccounts Banks Stock Brokers Finantial Entities Investment Funds Others

Custody Level Evolution ( ) 27/05/2016 ACSDA Leadership Forum - Buenos Aires, More than 99% Dematerialized

 ANNA Member since 1992  Board Member since 2006 (reelected in 2009)  ALARG (ANNA Latin America Regional Group) Regional Manager since 2006  WG2 Active Member (ISIN Guidelines) 27/05/2016 ACSDA Leadership Forum - Buenos Aires, Our Role as National Numbering Agency

Our Role as National Numbering Agency (Cont’d)  ANNA Membership (as of Dec. 2010):  Full Members:  82 National Numbering Agencies  Partners:  30 National Numbering Agencies  Country coverage: 123 countries 27/05/2016 ACSDA Leadership Forum - Buenos Aires,

Our Role as National Numbering Agency (Cont’d) Current ISO Standards under ANNA’s responsibility:  ISIN – International Securities Identification Number (ISO 6166)  CFI – Classification of Financial Instruments (ISO 10962) ISO Standards under development:  FISN – Financial Instrument Short Name  LEI – Legal Entity Identifier 27/05/2016 ACSDA Leadership Forum - Buenos Aires,

27/05/ ACSDA Leadership Forum - Buenos Aires, 2011 Our Role as IT Services Provider

Services 27/05/ ACSDA Leadership Forum - Buenos Aires, 2011 Orders and Trading Market data General ITDesposit Stockholder accounting Risk Management Transactions Orders and Trading Market data Stockholder accounting Collateral Management Transactions

27/05/ ACSDA Leadership Forum - Buenos Aires, 2011 Applications General IT - Private & public networking - Market ISP - Custody - Sub-accounts - CONSI (Internet) Collateral Management - Exposure - Collaterals Transactions - Order book - Clearing Stockholder accounting - Accounting - Dividend - Payments Orders & Trading - SINAC - Rueda contínua -Deferred Payment cheques - MEG - SDO (Internet) Market data - Bolsar.com - Data streaming - Trading floor

Hardware Consolidating technologies, following current IT market trends: - Commodity X86 server platform. - Linux & Windows operating systems. - Relational databases. - Data handling appliances (Storage High-End / Storage Middle-Range) - Web based Thin Clients (Intranet, Internet, Intranet over private networks):.NET, Java, PHP. - Tight integration with legacy technologies (Mainframe, CO BOL, Fat-Clients) based on data level interfaces and corporate messaging bus. 27/05/ ACSDA Leadership Forum - Buenos Aires, 2011

Networking - Redundant external networking - Critical services isolation - Internal network architecture relies on multiple VPN according to business process definitions 27/05/ ACSDA Leadership Forum - Buenos Aires, 2011

Facilities - Level 3 ICREA certified Data Processing Center. - Dedicated networking hub for external providers access. - Fiber optics (duplicated) links main stock exchange, market and CSD buildings - Exclusive facilities dedicated to IT activities 27/05/ ACSDA Leadership Forum - Buenos Aires, 2011

Governance - Request fulfillment and Incident management are ISO certified processes - On going setup for ITIL-V3 certification for IT infraestructure processes for Capacity - Best practices compliance project is planned to end with Project management. 27/05/ ACSDA Leadership Forum - Buenos Aires, 2011

Availability & Continuity - Disaster Recovery Site is located at 10km from main DPC facilities - Real time event replication, both for high-end and middle-range storages, relies on dual routed redundant fiber optic links - Fully duplicated IT infraestructure (both at server and networking hardware). - Architecture designed to minimize single points of failure - Cluster aware and farming support application design - Yearly tested, assuring 100% continuity in real environment for a whole business day from DRS infraestructre. - For worst case scenario (total main DPC out of service) shows less than 2 hours down time for most critical service related infraestructure. 27/05/ ACSDA Leadership Forum - Buenos Aires, 2011

Contact Details 25 de Mayo 362 C1002ABH – Ciudad Autónoma de Buenos Aires República Argentina Tel: (5411) E.mail: Web site: 27/05/2016 ACSDA Leadership Forum - Buenos Aires,