CaixaBank S A : Speech of the Chairman and presentation of the speech of the Chief Executive Officer (Open in a new window)

Ordinary Annual General Meeting

José Ignacio Goirigolzarri

14 May 2021

2021 ORDINARY ANNUAL GENERAL MEETING

Welcome everybody.

I would like to thank you all for attending, whether you are here in person or you are attending remotely.

It is a great honour for me to be here today, for the first time, as the chairman of CaixaBank. The first thing I want to do is to thank you from the bottom of my heart for the trust you have placed in me.

General meetings are always very important events. This is particularly true on this occasion as it is CaixaBank's first general meeting since completing its merger with Bankia.

You approved this merger last December, with more than 99 percent support from the general meetings of both banks.

Following this milestone, CaixaBank is now the main financial group in Spain, with a clear vocation for an Iberian leadership. It has been created with the trust of more than 21 million customers in Spain and Portugal, as well as the support of all of you, our shareholders.

I will divide my speech into three sections.

• First, I will give you a brief assessment of 2020.
• I will then discuss our responsible and sustainable management model.

© CaixaBank, S.A., 2021

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2021 ORDINARY ANNUAL GENERAL MEETING

• I will end by sharing a few reflections on the future with you.

Following my presentation, our chief executive officer will give you an in-depth analysis of the performance of our businesses and the annual accounts that we are presenting for your consideration.

Last year was very difficult.

We faced a health crisis that has left a terrible scar in terms of loss of human lives and economic and social damage.

Every economic sector has suffered to a greater or lesser extent from the strict lockdown and its impact on consumption and investment.

This is reflected in the worst falls in gross domestic product on record.

Fortunately, unprecedented support measures have mitigated the worst effects of the crisis, enabling many families and businesses to sustain their income.

Being a cyclical sector, banking has not been immune to the pandemic or its consequences, which affected its business volumes, income and, of course, prudential risk management.

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2021 ORDINARY ANNUAL GENERAL MEETING

However, the banking situation in this crisis was very different to that in 2008. Thanks to their efforts over recent years, the banks were in a strong position to support families and companies.

Together with the efforts and commitment of the whole CaixaBank team, this financial strength has once again demonstrated our vocation for service. We were there for our customers and society when they needed us most.

This great work is behind the bank's figures that the chief executive officer will present to this general meeting for approval.

CaixaBank's numbers in 2020 show:

• Great commercial strength, with increasing volumes and market shares.
• A very robust balance sheet.
• Returns consistent with the backdrop against which we are acting. The year closed with attributed profit of 1,381 million euros, after allocating extraordinary provisions of 1,252 million euros.

In line with the European Central Bank's recommendation on limiting dividend payments, we are proposing a cash dividend of 2,68 euro cents gross per share charged to 2020 earnings.

© CaixaBank, S.A., 2021

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2021 ORDINARY ANNUAL GENERAL MEETING

I would like to finish my assessment of 2020 with the most important event for the entity during the year:

The merger of CaixaBank and Bankia, which you, our shareholders, approved in December last year.

The merger is our strategic response to the huge challenges we are facing as a sector, which I will discuss shortly.

The merger has a number of objectives:

• First, to achieve critical mass to improve efficiency and increase our capacity to invest in technology and innovation.
• Second, it has given us greater financial strength, through a well provisioned and capitalised balance sheet that will enable us to address the crisis. This will enable us to support families, companies and society as a whole.
• Third, sustainable profitability, through a balanced business mix with the capacity to generate diversified income.
• We are pursuing these goals based on our shared values and culture, which mitigate the implementation risk inherent to every merger.

Our merger meets all these objectives. It is a unique project.

© CaixaBank, S.A., 2021

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