Investor Presentaiton

0 25 50 125 100 75 CAJA RURAL DE NAVARRA OPERATIVE ENVIRONMENT - SPAIN HOUSEHOLD DEBT: % OF GDP (%) -EU ESP GRE ―ITA POR 150 150 550 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Source: Institute of International Finance. 2020 Credit and Sustainability Framework CRN 2012 2013 2014 2015 2016 2017 2018 2019 • Private sector leverage in Spain has hugely decreased in the last decade. O 25 50 125 100 75 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 NON-FINANCIAL CORPORATES DEBT: % OF GDP (%) EU ESP GRE ―ITA -POR 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 19

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