Investor Presentaiton

Inflation is among the lowest among Spanish regions Inflation in the Community of Madrid increases in April to 3.4%; core inflation stands at 5.5%. Inflation increased by 8 tenths with respect to the previous month as a result of the increase in the prices of Clothing and footwear (+5.3%), which contrasts with the decrease in Housing prices (-1.8%). Additionally, it is expected that in the coming months the restrictive monetary policy will support a reduction in inflation. The Community of Madrid presents the most contained inflation in the national environment, being the region that loses the least purchasing power, which supports final consumption levels to remain stable. Contribution to inflation by components Community of Madrid Inflation Regional peaks and troughs, Community of Madrid and Spain 10.0 8,0 6,0 00 4,0 2.0 0,0 -2.0 aug-20 sep-20 oct-20 nov-20 dec-20 jan-21 feb-21 mar-21 apr-21 may-21 Jun-21 ju-21 aug-21 sep-21 oct-21 nor-21 Source: Own elaboration based on INE data Unprocessed food BINE -Underlying dec-21 jan-22 feb-22 mar-22 apr-22 may-22 Jun-22 Energy products ■Services dec-22 feb-23 mar-23 Processed foods -General inflation 14,0 12,0 10,0 8,0 6,0 4,0 2,0 0.0 -2,0 -4,0 abr.-20 may.-20 jun.-20 jul.-20 ago.-20 sep.-20 Oct-20 nov.-20 dic.-20 D ene.-21 feb.-21 mar.-21 abr.-21 may.-21 jun.-21 jul.-21 ago.-21 sep.-21 oct.-21 nov.-21 dic.-21 ene.-22 feb.-22 - mar-22 abr.-22 ene.-20 feb.-20 mar.-20 Source: INE may.-22 jun.-22 jul.-22 ago.-22 sep.-22 nov.-22 dic.-22 feb.-23 mar-23 abr.-23 - Total ■C. Madrid 15

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