Letter from the Chair

María Dolores Dancausa. Chair of Bankinter

Dear Shareholders,

It is a privilege to address you as Chair of Bankinter to present the Annual Report, which marks the conclusion of the 2024 financial year. This year has been especially significant, as I had the privilege of passing on the role of Chief Executive Officer to my successor, Gloria Ortiz, through a succession process that was thoroughly planned and executed with great care.

For the first time, the new CEO is presenting her report to you. The interview included in this Annual Report and the financial results presented portray the bank's exceptional performance, surpassing the figures from previous years and setting a new record in terms of revenue and profits.

Sadly, 2024 was also marked by the passing of Jaime Botín Sanz de Sautuola, a key figure in Bankinter's history. He was Chairman of the bank between 1986 and 2002, and a reference shareholder since the bank's inception 60 years ago. This has been a great loss for the Bankinter family. We have lost a person with an in-depth understanding of the banking business, of its risks and its opportunities, and an exceptional person, full of virtues, sensitivity, and curiosity, whose loss we will mourn for many years.

In the macroeconomic sphere, 2024 witnessed robust indicators in the Spanish economy, with a GDP growth of 3.2%, surpassing the previous year's figure by half a percentage point. Falling energy prices, booming exports and strong performance of the tourism sector have helped maintain a resilient labour market. However, there is still a need to address the discrepancies between these figures and the daily reality of many families, who continue to face difficulties in essential areas, such as housing, employment and earnings.

The year was also marked by the devastating catastrophe that affected several municipalities in the surrounding areas of the Turia River (Valencia). The outrage over the tragedy was compounded by the lack of adequate responses from those who should have investigated and corrected its causes instead of concentrating on pinpointing responsibility. This situation underpins the importance of responsibility in crisis management.

For Bankinter, 2024 has been a year of growth and continuous support from customers, whether companies or families, during which we have helped finance their projects and manage their savings effectively. From a financial standpoint, the bank achieved its best-ever result, with 953 million euros, an increase of 13% compared to the previous year. All the business lines and markets in which we operate have seen growth, strengthening the diversification of our activity and increase of our market share.

Our key financial indicators reflect the strength of our performance and our leading position in the European financial sector. In addition, our share price increased by 32%, exceeding the average of listed banks in Spain.

These achievements, together with our capacity to generate organic capital, have led the Board of Directors to announce a dividend payout of 476 million euros, equivalent to 50% of annual attributable profit.

As for 2025, the future is marked by many factors beyond our control, but also by many others that we can control. Our 60- year history and, in particular, the last decade, are a strong indicator of our likelihood of success. While past achievements do not ensure future success, they serve as the groundwork for our ongoing progress. Our success is not the result of chance, but of thousands of good decisions made by a team of more than 6,000 professionals who have put their talent at the service of Bankinter

In this scenario, the levels of efficiency achieved in our digital channels and the solid relationship with our customers place us in a strong position to achieve even better results. However, external factors such as political instability in Western Europe, volatility in financial markets and armed conflict in Ukraine and the Middle East continue to create uncertainty.

I would like to highlight two areas that are becoming increasingly important and where Bankinter is firmly positioned: Sustainability and Innovation and, in this field, also our Bankinter Innovation Foundation.

With regard to our commitment to Sustainability, such a commitment has been consolidated over the years through the integration of ESG (Environmental, Social and Governance) criteria into our value chain. We avoid passing trends and focus on actions with a positive impact on society. This year, we rolled out the 2024-26 DNA Strategic Plan, based on three pillars: D stands for differentiation, which highlights this characteristic of our identity in our relationship with customers, Bankinter's people or innovation; N stands for sustainable business, where Bankinter has made significant progress on matters related to marketing of sustainable funds or financing renewable energy operations; and A stands for responsible action, which focuses on ethical management of the bank.

In terms of innovation, Bankinter is still a sector benchmark in terms of the use of cutting-edge technologies and data, with a view of offering the best possible service to its customers. We continue to strengthen our digital channels, which are currently the main way of interacting with the bank. In addition, we have optimised the use of Artificial Intelligence to increase productivity in the Central Services area and the Sales Network, which is improving the customer experience and boosting the efficiency of our processes.

Since its inception, the Bankinter Innovation Foundation has promoted innovation and entrepreneurship. This year, we have added a new programme, "InspiraTech", designed for PhD students and which aims to transform scientific research into real solutions for the market, joining our other programmes: "Future Trends Forum", "Akademia", "Start Ups" and "Cre100do"

In short, after a record year, we face 2025 with optimism and confidence in the future of Bankinter. We remain aligned with the principles that have brought us here, convinced that perseverance in what works is the best guarantee of success. We hope to continue growing and that you will continue to benefit from the increasing value of your investment in Bankinter