CaixaBank S A : 1Q 2021 results presentation. Webcast (Open in a new window)

1Q21 Results ⏐ 6 May 2021

Disclaimer

The purpose of this presentation is purely informative and should not be considered as a service or offer of any financial product, service or advice, nor should it be interpreted as, an offer to sell or exchange or acquire, or an invitation for offers to buy securities issued by CaixaBank, S.A. ("CaixaBank") or any of the companies mentioned herein. The information contained herein is subject to, and must be read in conjunction with, all other publicly available information. Any person at any time acquiring securities must do so only on the basis of such person's own judgment as to the merits or the suitability of the securities for its purpose and only on such information as is contained in such public information set out in the relevant documentation filed by the issuer in the context of such specific offer or issue and after taking any professional or any other advice as it deems necessary or appropriate under the relevant circumstances and not in reliance on the information contained in this presentation.

CaixaBank cautions that this presentation might contain forward-looking statements concerning the development of our business and economic performance. Particularly, the financial information from CaixaBank Group related to results from investments has been prepared mainly based on estimates. While these statements are based on our current projections, judgments and future expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. Such factors include, but are not limited to, the market general situation, macroeconomic factors, regulatory, political or government guidelines and trends, movements in domestic and international securities markets, currency exchange rates and interest rates, changes in the financial position, creditworthiness or solvency of our customers, debtors or counterparts, etc. These risk factors, together with any other ones mentioned in past or future reports, could adversely affect our business and the levels of performance and results described. Other unknown or unforeseeable factors, and those whose evolution and potential impact remain uncertain, could also make the results or outcome differ significantly from those described in our projections and estimates.

In particular, this presentation may contain references, including certain forward-looking statements, to potential benefits identified and made public when formulating the joint merger plan for the merger of Bankia, S.A. (absorbed company) into CaixaBank (absorbing company) announced on 18 September 2020, however, CaixaBank cannot guaranty that those benefits will materialise in the terms as provided, nor that the Group will not be exposed to difficulties, additional expenditures and risks associated with the integration after the merger having become effective on March 26, 2021.

Statements as to historical performance, historical share price or financial accretion are not intended to mean that future performance, future share price or future earnings for any period will necessarily match or exceed those of any prior year. Nothing in this presentation should be construed as a profit forecast. In addition, it should be noted that although this presentation has been prepared based on accounting registers kept by CaixaBank and by the rest of the Group companies it may contain certain adjustments and reclassifications in order to harmonise the accounting principles and criteria followed by such companies with those followed by CaixaBank, as in the specific case of Banco Português de Investimento ("BPI"), so that, the relevant data included in this presentation may differ from those included in the relevant financial information as published by BPI. Likewise, in relation to the historical information on Bankia and that referring to the evolution of Bankia and/or the rest of the Group contained in this presentation, it must be taken into account that it has undergone certain adjustments and reclassifications in order

to adapt it to CaixaBank Group's presentation criteria. In the same way, in order to show the recurring evolution of the proforma results of the new entity resulting from the merger and its group, the extraordinary impacts associated with the integration of Bankia are presented separately.

In particular, regarding the data provided by third parties, neither CaixaBank, nor any of its administrators, directors or employees, either explicitly or implicitly, guarantees that these contents are exact, accurate, comprehensive or complete, nor are they obliged to keep them updated, nor to correct them in the case that any deficiency, error or omission were to be detected. Moreover, in reproducing these contents in by any means, CaixaBank may introduce any changes it deems suitable, may omit partially or completely any of the elements of this presentation, and in case of any deviation between such a version and this one, CaixaBank assumes no liability for any discrepancy. This statement must be taken into account by all those persons or entities that may have to make decisions or prepare or disseminate opinions regarding securities issued by CaixaBank and, in particular, by analysts and investors who handle this document. All of them are encouraged to consult the documentation and public information communicated or registered by CaixaBank with the National Securities Market Commission (Comisión Nacional del Mercado de Valores, "CNMV"). In particular, it should be noted that this document contains unaudited financial information.

In relation to Alternative Performance Measures (APMs) as defined in the guidelines on Alternative Performance Measures issued by the European Securities and Markets Authority on 30 June 2015 (ESMA/2015/1057), this presentation uses certain APMs, which have not been audited, for a better understanding of the company's financial performance. These measures are considered additional disclosures and in no case replace the financial information prepared under the International Financial Reporting Standards (IFRS). Moreover, the way the Group defines and calculates these measures may differ to the way similar measures are calculated by other companies. Accordingly, they may not be comparable. Please refer to the Glossary section of CaixaBank's Business Activity and Results Report January - March 2021 for a list of the APMs used along with the relevant reconciliation between certain indicators.

This presentation has not been submitted to the CNMV or to any other authority in any other jurisdiction for review or for approval. Its content is regulated by the Spanish law applicable at the date hereto, and it is not addressed to any person or any legal entity located in any other jurisdiction and therefore it may not be compliant with the relevant regulations or legal requirements as applicable in any such other jurisdiction.

Notwithstanding any legal requirements, or any limitations imposed by CaixaBank which may be applicable, permission is hereby expressly refused for any type of use or exploitation of the content of this presentation, and for any use of the signs, trademarks and logotypes contained herein. This prohibition extends to any kind of reproduction, distribution, transmission to third parties, public communication or conversion by any other mean, for commercial purposes, without the previous express consent of CaixaBank and/or other respective proprietary title holders. Any failure to observe this restriction may constitute as sanctionable offense under the current legislation.

Presentation prepared with Group data at closing of 31 March 2021, unless otherwise noted.
From an accounting point of view, BKIA consolidates from 31 March 2021, incorporating assets and liabilities from BKIA at fair value on that date. The results from BKIA in 1Q do not contribute to consolidated net income in the quarter. BKIA P&L	2
figures are presented based on CaixaBank reporting criteria, restating those from 2020.

CONTENTS

I.

1Q21 Highlights

II.

III.

1Q21 P&L and Balance Sheet

Final remarks

3

1Q21 HIGHLIGHTS

BKIA merger is closed as underlying trends remain solid

Strong commercial activity continues in the quarter

‒with a pick-up in long-term savings and protection insurance

L/T SAVING NET INFLOWS(1)

Spain ex BKIA

NON-LIFE + LIFE RISK INSURANCE: NEW MYBOX PREMIA, Spain ex BKIA

€3.1 Bn

(4x vs. 1Q20)

€112 M

(+73% vs. 1Q20)

Higher core revenues with lower recurrent expenses

‒both contributing to core operating income and underlying net income growth

CORE REVENUES % yoy ex BKIA(2)

RECURRENT EXPENSES

% yoy ex BKIA(2)

+1.0%

-3.3%

Fair Value adjustments upon merger further reinforce strong credit metrics

-CoR trailing down reflects build-up of COVID reserves in 2020 (still unused), prudent risk management, and low NPL formation after good performance of expired moratoria

% NPL(3) ⎢ % NPL COVERAGE (3)	3.6% ⏐ 67%
CoR (4) TTM, bps ex BKIA	61 bps (-14 bps qoq)

		% CET1 and MREL remain at record highs post merger impacts	% CET1 PF(5)	⎢ % CET1 ex IFRS9 TA PF(5)	13.6%	⏐	13.1%
		‒ with ample buffers to absorb pending M&A impacts	% MREL PF(5) ⎢ % Sub. MREL PF(5)	25.4% ⏐	22.4%

1Q 21 net income (adj.)(6) of €514M (+€424M yoy) and RoTE (adj.)(6) at 8.0%

1. Long-termsavings include mutual funds, pension plans and savings insurance. (2) BKIA consolidated on 31 March 2021; the results from BKIA in 1Q do not contribute to consolidated net income in the quarter. (3) Group at 31 March 2021 (i.e. including BKIA). (4) CoR excludes impact from BKIA in the denominator for consistency with the numerator. (5) PF including impact from CABK TRIM LDP (official communication received in April, post 1Q close). Reported % CET1 and % MREL

(including IFRS9 transitional arrangements) at 14.1% and 26.3% respectively. (6) 1Q 21 Adjusted net income excludes impact from badwill (€4,300M pre/post tax) and extraordinary integration costs (-€28M post tax). RoTE adj. also excludes BKIA in	4
denominator. 1Q21 reported net income of €4,786M.

1Q21 HIGHLIGHTS

Undisputed leadership in Spanish banking and insurance

#1 INSTITUTION IN SPAIN	MARKET SHARE IN KEY PRODUCTS
Group key figures - at 31 March 2021	CaixaBank PF with Bankia, % in Spain(2)

#1

TOTAL ASSETS, CREDIT AND DEPOSITS

CLIENTS

MARKET SHARE IN

KEY RETAIL

PRODUCTS

Total assets (€Bn)	664
Gross customer loans (€Bn)	364
Customer funds (€Bn)	580
Long-term savings (€Bn)	212
Net worth (€Bn)	36
Clients (Million)	21
Branches(1) (Thousand)	6.3
Employees (Thousand)	51

Credit (3)

Deposits (3)

Long-term savings (4)

Health insurance

Life-risk insurance

Business lending

(49.9% stake)

25.3%

25.2%

29.2%

29.5%

24.3%

24.5%

#1 Mutual Funds(2)

#1 Life insurance(2)

#1 Health insurance(2)

(20% stake)

1. In Spain and Portugal. It does not include international branches and representative offices.
2. Based on latest available data from Bank of Spain, ICEA, INVERCO.
3. Households and businesses (excluding financial institutions and public sector).

1. Combined market share in mutual funds, pension plans and insurance. The latter considers 100% of the business of

Bankia Mapfre Vida. Sector data are internal estimates.	5