08 Oct 26 Cerolini & Ferrari Abogados advised on the issuance of Series I Notes by Establecimientos Lácteos Silvia S.R.L.

Agustín Cerolini, Martín Chindamoand Tomás Mingrone

Cerolini & Ferrari Abogados advised Establecimientos Lácteos Silvia S.R.L. as issuer (the “Issuer”), and TCA Tanoira Cassagne advised PP Inversiones S.A, Banco Supervielle S.A., Banco BBVA Argentina S.A. and Banco de Valores S.A. in their capacity as arrangers and placement agents (the “Placement Agents”), and Banco Supervielle S.A., Banco BBVA Argentina S.A. and Banco de Valores S.A. in their capacity as guarantee entities in the issuance of Series I notes for an aggregate amount of AR$3,500,000,000, denominated and payable in Argentine Pesos, maturing on October, 8, 2028 and which will accrue interest at a floating rate equal to the Private TAMAR Rate plus a 0,00% margin, issued under the Low-Impact Public Offering Regime with Automatic Authorization (the “Notes”).

The Notes are fully guaranteed by Banco Supervielle S.A., Banco BBVA Argentina S.A. and Banco de Valores S.A. as Guarantee Entities authorized by the National Securities and Exchange Commission (CNV for its acronym in Spanish).

Establecimientos Lácteos Silvia S.R.L. is a company engaged in the production, marketing, import and export of dairy products and their derivatives. It currently operates its main production complex in Suipacha, an industrial plant in San Sebastián, and a cutting, slicing and thermoforming center in Luján, where its administrative offices and logistics warehouse are also located. The company’s activities include the production and sale of soft, semi-hard, hard and processed cheeses; spreadable cheeses; ricotta; UHT long-life milk and chocolate milk; and drinkable yogurts.

Legal Counsel of the Issuer: Cerolini & Ferrari Abogados through a team led by Partners Agustin Cerolini and Martín Chindamo and Associate Tomas Mingrone.

Legal Counsel of the Arrangers, Placement Agents and Guarantee Entities: TCA Tanoira Cassagne through a team led by Partners Alexia Rosenthal and Jaime Uranga; and Associates Teófilo Trusso and Juan Bertoni.