Investor Presentaiton

UNITED FISCAL AND MONETARY RESPONSE MADE EURO AREA STRONGER AND CALMED DOWN MARKETS Public 40 Euro's inception 35 30 25 22 20 15 Euro area 10-year sovereign spreads (percentage points) FR —IT -ES NL -PT —IE GR Sovereign debt crisis Fiscal: ESM/EFSF €700bn of which €300 bn used 2011-2018. €60bn EU Global financial crisis Pandemic Monetary: ECB asset purchases (PSPP) 2015 - 22 Fiscal: 540bn ESM/EIB/ EU & 750bn NGEU Monetary: ECB asset purchases (PEPP) 2020 - 22 10 5 0 1995 2000 2005 2010 2015 2020 FR IT -ES -NL PT -IE -GR Source: ECB and ESM 6 25m

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