Investor Presentaiton

However, the great difference to those are inflation levels Nominal governmental interest rate, inflation and annual exchange rate depreciation % 300 250 200 150 100 50 0 -50 Feb-80 Dec-85 Interest rate Inflation Oct-91 Aug-97 -Annual exchange rate depreciation Jun-03 Apr-09 4 Source: Banorte with data from INEGI and Banxico *Interest rate (1980-Sep 1982: CPP; 1982-...: Cetes; Exchange rate: 1980-Nov 1991: 'para solventar obligaciones en moneda extranjera'; Nov 1991-...: Fix) Eco Hist DB NIM Rev C/I NI Div ROE LD Dep Loan ICAP BAP Guid Mkt App Feb-15 Dec-20 GRUPO FINANCIERO BANORTE

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