Investor Presentaiton

Unemployment level at lowest level since 2008 Evolution of registered unemployment. Year-on-year rate of change. 0 -5 -10 -15 -20 -25 -3,16 -6,29 -30 aug-21 nov-21 feb-22 may-22 aug-22 nov-22 feb-23 Source: Ministry of Labour, Migration and Social Security Y-O-Y RC Madrid may-23 Y-O-Y RC Spain ✓ Continuous decline in the number of unemployed, dropping below pre-COVID levels and reaching values not seen since 2008. ✓ May23: 305,094 unemployed, -3,16% YoY, -11.2% vs Apr19. ✓ Permanent contracts account for about 45% of new contracts in May23, more than double the pre-pandemic volume. 13

View entire presentation