CaixaBank S A : The company issues an interim management report for the third quarter of 2020.

Business

activity

and results

January-September

2020

Contents

1. Key Group figures
2. Key information

1. Macroeconomic trends and state of the financial markets

1. Results

1. Business Activity

1. Risk management

1. Liquidity and financing structure

1. Capital management

1. Segment reporting

1. The CaixaBank share

1. Appendices

1. Investment portfolio
2. Ratings
3. Glossary

Business activity and results: January - September 2020| 1

Note: The financial information contained in this document is unaudited and, accordingly, is subject to change. The consolidated income statement and the consolidated balance sheet and the corresponding breakdowns of those statements provided in this report, are presented under management criteria, but have still been prepared in accordance with International Financial Reporting Standards (IFRS-EU) as adopted by the European Union under the terms of Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002, as subsequently modified. In preparing these statements, Circular 4/2017 of the Bank of Spain of 6 December, as subsequently modified, has also been taken into due account in that it adapts IFRS-EU to Spanish credit institutions.

This report has been prepared from the accounting records of CaixaBank, S.A. and the other Group companies, and includes certain adjustments and reclassifications required to apply the policies and criteria used by the Group companies on a consistent basis with those of CaixaBank. For this reason, and specifically in the case of BPI, the information contained in this document does not coincide with certain aspects presented in BPI's publication of financial information. Likewise, the financial information regarding investees has been prepared primarily on the basis of estimates made by CaixaBank, hereinafter the "Company".

Figures are presented in millions of euros unless the use of another monetary unit is stated explicitly, and may be expressed as either million euros or € million. Certain financial information in this report was rounded off and, specifically, the figures shown herein as totals may differ slightly from the arithmetic sum of the individual figures given before them.

In accordance with the Guidelines on Alternative Performance Measures (APMs) published by the European Securities and Markets Authority

on 30 June 2015 (ESMA/2015/1057), the appendices hereto provide the definition of certain alternative financial measures and, where appropriate, the reconciliation with the items contained on the financial statements for the period in question.

In accordance with the Amendments to IFRS 4, the Group decided to apply temporary exemption from applying IFRS 9 to the financial investments of the Group's insurance firms for all periods that come before 1 January 2021. This date is currently being reviewed by the European Commission as it awaits its alignment with the entry into force of the new IFRS 17: Insurance Contracts (expected on 1 January 2023), which will govern the presentation and measurement of insurance contracts (including technical provisions). Accordingly, the information shown below does not consider the application of IFRS 9 in relation to the investments undertaken by the Group's insurance firms, which are grouped under the heading 'Assets under the insurance business' on the balance sheet. In accordance with this presentation, the balances of the technical provisions corresponding to Unit Link and Flexible Investment Life Annuity (the part managed) are also included under the heading "Liabilities under the insurance business".

Business activity and results: January - September 2020| 2

Commercial positioning

CLIENTS

BUSINESS ACTIVITY

15.4

449,310

404,422

in customer funds (€ million)

million

Balance sheet indicators

RISK MANAGEMENT

3.5%

NPL ratio

65%

NPL

coverage ratio

0.67%

Cost of risk (12 months)

Profitability and cost-to-income

in total assets (€ million)

241,877

in loans and advances to

customers (€ million)

CAPITAL ADEQUACY	LIQUIDITY
pro-forma1

12.7%	110,729
CET1	in total liquid assets (€ million)
17.0%	224%
Total capital	liquidity coverage ratio (LCR),
	trailing 12 months
24.4%	141%
MREL	NSFR

558

Banking and insurance

726

profit attributable to the

Group (€ million)

68	101
Equity
BPI
Investments

56.4%

cost-to-income ratio (last 12 months)

5.0%	4.3%
12-month ROTE	12-month ROTE for the
	banking and insurance
	business

1Pro-forma ratios considering the partial sale of Comercia and the AT1 issue completed after 30 September 2020.

Business activity and results: January - September 2020| 3