Investor Presentaiton

P ែន ន ន ទ ៖ 110 100 90 80 70 60 50 40 2005 2006 2007 Source: INE, CIS. 1 2019 data as of September 2019. 2020 Credit and Sustainability Framework CRN 2008 2009 30% 25% 20% 15% 10% 5% 0% CAJA RURAL DE NAVARRA OPERATIVE ENVIRONMENT - SPAIN 2009 2010 20 2011 CONSUMER CONFIDENCE INDICATOR ம் 2016 2017 2018 2019 2012 2013 2014 UNEMPLOYMENT 2015 2016 2017 2018 2019 Positive macro developments trends in Spain. 25 20 15 10 5 0 Reforms of labour markets and restructuration of the financial sector. 2001 2002 2003 2004 5007 2006 2007 2008 6002 GDP 5% 3% 1% -1% -3% -5% 2001 COST PER HOUR WORKED¹ 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 17 2010 2011 2012 2013 20145 2015 2016 2017 2018 2019 This document should not be distributed in the United States or to U.S. persons as defined in Regulation S of the U.S. Securities Act of 1933, as amended

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