Investor Presentaiton

Community of Madrid financing system The Community of Madrid Budget increased by 7,5% YoY in 2019, due to the main tax growth, the PIT. Billions € 2018 2019 % 19/18 % Total 2019 State managed taxes PIT 19.64 20.31 3.4% 102.7% 10.73 11.57 7.8% 58.5% VAT 6.96 6.69 -3.9% 33.8% Excise duties 1.59 1.71 7.6% 8.6% Excise duties: transport 0.12 0.17 37.5% 0.8% Bank deposits tax 0.13 0.13 0.0% 0.7% Business Tax (Local tax on businesses locations) 0.03 0.03 0.0% 0.1% Gambling taxes 0.02 0.02 0.0% 0.1% Environmental tax (regional tax) 0.06 0.01 -91.7% 0.0% Community of Madrid managed taxes 2.17 2.40 10.5% 12.1% Wealth Transfer Tax 1.06 1.30 22.2% 6.5% Stamp Duty 0.41 0.43 4.9% 2.2% Inheritance and Gift tax 0.45 0.42 -6.7% 2.1% Madrid's tax on gambling Tariffs Waste Collection Fees 0.17 0.16 -1.2% 0.8% 0.09 0.09 4.7% 0.5% 0.00 0.00 0.0% 0.0% Current Transfer Rest of non-financial income Total of non-financial income 4.07 3.76 7.6% -19.0% 0.65 0.83 26.4% 4.2% 18.40 19.78 7.5% 100.0% Source: Community of Madrid (Budget of the Community) 10

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