Investor Presentaiton

CAJA RURAL DE NAVARRA Residential Cover Pool Analysis Residential breakdown by loan size 1 >Imn 0.04% 500k-1mn 0.70% 300k-500k 3.32% 200k-300k 10.40% 150k-200k 14.19% 100k-150k 50k-100k 29.18% 32.36% <= 50k 9.80% 0% 5% 10% 15% 20% 25% 30% 35% Residential breakdown by LTV 25% 21.87% 22.11% 19.63% 20% 17.38% 14.29% 15% 10% 5% Ill 5/7 COVERED BOND PROGRAMME Residential breakdown by property type² 2nd residence 3.34% Others 2.73% 1st residence 93.93% 0.95% 0.79% 0.59% 1.58% 0.43% 0.39% 0% 0-40% 40%-50% 50%-60% 60%-70% 70%-80% 80%-85% 85%-90% 90%-95% 95%-100% 100%-105% >105% 1 Current Loan Balance calculated on a WA basis 2 Category "Others" includes housing Caja Rural de Navarra Investor Presentation 39

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