Court of Appeals Nullifies Resolution

GRUPO CLARIN S.A.

Court of Appeals Nullifies Resolution of the Argentine Securities Commission

On 5 July 2022, Grupo Clarín S.A. (the "Company") informed the Argentine Securities Commission and the Buenos Aires Stock Exchange that the Company had been served notice of a decision rendered by Chamber V of the Court of Appeals on Federal Administrative Litigation Matters in re "Grupo Clarín S.A. v. Argentine Securities Commission - Resolution No. 17131/13 (File No. 737/13)," whereby that court had admitted the Company's direct appeal and had declared the nullity of the Argentine Securities Commission's Resolution No. 17131/13, dated as of 11 July 2013. Under Resolution No. 17131/13, the Argentine Securities Commission had declared that the Company's Annual Ordinary Shareholders' Meeting held on 25 April 2013 had been irregular and without effect for administrative purposes.

Attached as Exhibit A is a free translation of the relevant paragraphs of the decision of Chamber V of the Court of Appeals on Federal Administrative Litigation Matters.

Enquiries:

In Buenos Aires:

Samantha Olivieri

Grupo Clarín

Tel: +5411 4309 7104

Email: investors@grupoclarin.com

In London:

Alex Money

Jasford IR

Tel: +44 20 3289 5300

Email: alexm@jasford.com

In New York:

Camilla Ferreira / Marcella Ewerton

Fig Corporate Communications

Tel: +1 917 691 4047

Email: fig@fig.ooo

Exhibit A

FREE TRANSLATION

National Judicial Power

COURT OF APPEALS ON FEDERAL ADMINISTRATIVE

LITIGATION MATTERS - CHAMBER V

29563/2013

GRUPO CLARIN SA AND OTHER v/ CNV-RESOL 17131/13 (FILE 737/13)

AND OTHER re/

HAVING REVIEWED [THE CASE] AND CONSIDERING;

I.- That, pursuant to Resolution No. 17,131, dated as of 11 July 2013, added [to this docket] under pages 198/207, the Argentine Securities Commission, in exercise of its powers set forth under Articles 1°, subsection b, and 19, subsection i) of Law No. 26,831 and as regulator of the capital markets, resolved to declare that the General Annual Ordinary Shareholders' Meeting of "Grupo Clarin S.A.," held on 25 April 2013, the minutes of which are added [to this docket] under pages 332/363, whereby, among other points, [the shareholders] approved the financial statements corresponding to fiscal year 2012, decided on the use of [the Company's] revenues and elected the members of the governing and oversight bodies for the following period.

[Recital I, second paragraph up to and including Recital V, intentionally omitted]

In light of the considerations set forth above, the Court RESOLVES: To accept the direct appeal and to declare the nullity of Resolution No. 17,131, dated as of 11 July 2013 of the Argentine Securities Commission, with costs payable by the defeated party (Article 68 of the National Code of Civil and Commercial Procedures).

We hereby state for the record that Dr. Pablo Gallegos Fedriani does not sign this decision pursuant to the decision of this Court of 11 October 2013 regarding his recusation without cause requested on pages 902/941.

[Let this decision be] registered and notified.

Guillermo F. TREACY Jorge Federico ALEMANY