Province of Chubut’s Series XLV Treasury Notes Issuance for AR$ 52,253,500

Legal counsel to Banco del Chubut S.A., as arranger, placement and financial agent in the issuance of Province of Chubut’s Series XLV Treasury Notes. The Treasury Notes Series XLV are secured by certain rights of the Province of Chubut to receive amounts under the federal tax co-participation regime and were issued for AR$ 52,253,500 fixed rate equivalents to 25.50% annual nominal, due on June 22, 2020.