Investor Presentaiton

Fiscal discipline and with surplus since 2017 (except in 2020) Deficit/surplus over GDP (%) 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 (P) 1.2 1.3 1.3 1.0 0.8 П 0.5 0.4 -0.3 I'd o 0.0 -0.4 -0.3 -0.2 -0.7 -0.6 -0.8 -0.9 -0.9 -0.9 -1.1 -1.8-1.6 -1.5 -1.4 -1.8 -1.8 -1.7 -2.0 -2.0 -3.2 -3.3 -3.8 -3.9 4.9 -5.2 Source: AFI. Spanish regions Navarra

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