Investor Presentaiton

GDP growth estimates of the Community of Madrid in 2023-2024 www Growth in the Community of Madrid is expected to be 2.6% in 2023 and to decelerate slightly in 2024. In both years, Madrid's economy is expected to be more dynamic than that of Spain. GDP growth forecasts. Community of Madrid and Spain Real GDP growth rates Issues to follow: ✓ Developments in the war in Ukraine. Polarisation of blocks and its implications. ✓ Overall weakening of global demand. ✓ Summary of projections 2024 Rates of change of real GDP Summary of projections 2023 4,0 Rates of change of real GDP 4,00 2,6 3,50 2,2 3,00 3,0 2,50 2,0 2,0 2,00 2,0 1,50 Effectiveness of monetary policy measures in anchoring inflation expectations. Response of activity and employment to current and future changes in the public policy mix. Challenge: cohesion of the European Union and its positioning in the new global geopolitical framework. 1,0 0,0 00 CM ■BBVA Research jun-23 ■CEPREDE sep-23 Promedio Spain Hispalink jun-23 ■AIReF apr-23 1,00 0,50 0,00 CM Spain BBVA Research jun-23 CEPREDE sep-23 Hispalink jun-23 Promedio 18

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