S&P Dow Jones Indices and Bolsas y Mercados Argentinos Equity Indices Transition

In March 2018, Bolsas y Mercados Argentinos (“BYMA”) and S&P Dow Jones Indices (“S&P DJI”) signed an Index Operation and License Agreement. The partnership between BYMA and S&P DJI, the world’s leading provider of index-based concepts, data and research, includes the adoption of international index methodology standards and the integration of operational processes and business strategies and enhances the visibility, governance, and transparency of the existing indices. The agreement also enables the development, licensing, distribution and management of current and future indices which will be designed to serve as innovative and practical tools for local and global investors. The new and existing BYMA indices will be co- branded under the “S&P MERVAL” and “S&P/BYMA” names (the “Indices”) that can be used to underlie liquid financial products, expanding the breadth and depth of the Argentine capital market.

S&P DJI previously announced the official cutover date would be December 3, 2018. S&P DJI and BYMA are working together and with third party providers to ensure a smooth transition of the calculation, management and distribution of the Indices.

Based on a review of the current transition plan, S&P DJI and BYMA have agreed to postpone the December 3, 2018 cutover date to January 14, 2019 (the revised “Transition Date”) when S&P DJI will assume responsibility for the calculation, production, maintenance, licensing, and distribution of the Indices. BYMA will continue to license and distribute real-time index data and the delayed index data (which includes Open/High/Low/Volume and last tick).