Investor Presentaiton

Andbank Investor 2020 Andbank Fitch Ratings . April 2020 Fitch Ratings affirmed Andbank's Long- Term IDR at 'BBB' but changed the Outlook to "Negative" from "Stable" due to the disruption caused by the coronavirus pandemic in Andorra and globally. Andbank is the best rated Andorran Bank as international private banking activities should provide greater resilience to earning pressures from the domestic retail and commercial activity. The Agency states that Andbank has headroom to emerge from the crisis with its ratings intact. Long-Term IDR BBB Outlook Negative Short-Term IDR F3 Viability rating bbb Support rating 5 Support rating floor NF ANDBANK Private Bankers ANDBANK Private Bankers AR 2013 2014 2015 2016 2018 2019 2020 Andorra A- (Negative) BBB+ BBB (Stable) (Stable) BBB (Positive) BBB+ (Positive) BBB+ (Stable) BBB+ (Stable) A- BBB Andbank (Negative) (Stable) BBB (Stable) BBB (Stable) BBB (Stable) BBB (Stable) BBB (Negative) 26

View entire presentation