Investor Presentaiton

CAJA RURAL DE NAVARRA 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 SUSTAINABILITY BOND FRAMEWORK ESG Risk Rating • The whole organisation is subject to Environmental, Social and Governance (ESG) standards that determine the focus, targets and policies of the Bank regarding different aspects of sustainability. • The ESG rating awarded to Caja Rural de Navarra by Second-Party Opinion provider Sustainalytics ranks the Bank among the best performers in the financial sector. Source: 1 - ESG Risk Rating Report SUSTAINALYTICS SUSTAINALYTICS ESG RISK RATING REPORT Caja Rural de Navarra, Sociedad Cooperativa de Crédito Regional Banks | Spain | 16.3 Low Risk Date Dec 17, 2019 Negl Low Med 0-10 10-20 20-30 High 30-40 Severe 40+ Rating Overview The company is at low risk of experiencing material financial impacts from ESG factors, due to its low exposure and strong management of material ESG issues. The company is not publicly held, which reduces its corporate governance risk compared to its peers. However, the company has a moderate level of controversies. Momentum Score Not available due to a lack of comparable historical information ESG Risk Rating Distribution 1% 1% 0% Negligible 18% 7% 2% Low 48% 68% Relative Performance Rank Percentile (1st = lowest risk) (1st lowest risk) Global Universe 1050 out of 12275 9th 36% 29% 27% Banks (Industry Group) 43 out of 941 5th 21% 18% 14% 9% Regional Banks (Subindustry) 3 out of 389 2nd Medium High Severe 29

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