Province of Chubut’s Series XLVI Treasury Notes Issuance for AR$ 100,000,000

Legal counsel to Banco del Chubut S.A., as arranger, placement and financial agent in the issuance of Province of Chubut’s Series XLVI Treasury Notes. The Treasury Notes Series XLVI 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$ 100,000,000 fixed rate equivalents to 26.50% annual nominal, due on July 14, 2020.