Banco Sabadell2011 Results

January 26 th, 2012

Disclaimer

Banco Sabadell cautions that this presentation may contain forward looking statements with respect to the business. financial condition. results of operations. strategy. plans and objectives of the Banco Sabadell Group. While these forward looking statements represent our judgement and future expectations concerning the development of our business. a certain number of risks. uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include. but are not limited to. (1) general market. Macroeconomic. governmental. political and regulatory trends. (2) movements in local and international securities markets. currency exchange rate. and interest rates. (3) competitive pressures. (4) technical developments. (5) changes in the financial position or credit worthiness of our customers. obligors and counterparts. These risk factors could adversely affect our business and financial performance published in our past and future filings and reports. including those with the Spanish Securities and Exchange Commission (Comisión Nacional del Mercado de Valores).

Banco Sabadell is not nor can it be held responsible for the usage. valuations. opinions. expectations or decisions which might be adopted by third parties following the publication of this information.

Financial information by business areas is presented according to GAAP as well as internal Banco Sabadell group´s criteria as a result of which each division reflects the true nature of its business. These criteria do not follow any particular regulation and can include forecasts and subjective valuations which could represent substantial differences should another methodology be applied.

The distribution of this presentation in certain jurisdictions may be restricted by law. Recipients of this presentation should inform themselves about and observe such restrictions.

These slides do not constitute or form part of any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscribe to any securities nor shall they or any one of them form the basis of or be relied on in connection with any contract or commitment whatsoever.

22

1. 2011 in summary

2. 2011 Results

3. Commercial activity and liquidity

4. Risk management

5. BS during the crisis 2007-2012

Annex

Index

33

1. 2011 in summary

44

2011 in summary

Satisfactory income generation

55

Improvement in pre-provision profit thanks to active price management and record level of customer acquisition

Highlights Actions / results

Comfortable liquidity position

Strong growth in deposits, leveraging existing commercial platform, and active asset & liability management

2011 in summary

Continued efforts in provisions

66

Extraordinary income generation used to improve provisions buffer

Highlights Actions / Results

Strengthened core capital ratio

Debt-for-equity swap

2. 2011 Results

77

2011 Results

*

88

2010 2011% var 11/10

Net Interest Income 1,459.1 1,537.3 5.4%Equity Method & Dividends 87.1 46.4 -46.8%Commissions 516.5 573.6 11.1%Trading Income & Forex 262.7 341.2 29.9%Other Operating Results 5.9 8.2 39.5%Gross Operating Income 2,331.3 2,506.7 7.5%Personnel Costs -679.7 -742.6 9.3%Administrative Costs -356.3 -402.5 13.0%Depreciations -159.0 -130.9 -17.6%Pre-provisions Income 1,136.3 1,230.7 8.3%

Total Provisions & Impairments -968.1 -1,048.9 8.4%Gains on sale of assets 296.1 5.7 -98.1%Profit before taxes 464.3 187.5 -59.6%Taxes and others -84.3 44.4 --Attributable Net Profit 380.0 231.9 -39.0%

Euros in million

* 2010 including capital gains of € 250 million related to a Sale & Leaseback transaction

Strong net interest income generation…

Net interest income FY11:+5.4 % YoY

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11

374.1 391.1361.2

332.8379.1

Net interest income FY11 like-for-like*: -4.4% YoY

385.4 388.6

99

384.1

2010 2011

1,459.1 1,537.3

Net interest income evolution(Euros in million)

* Including BG in 2010

… driven by active price management …

1010

Total volume of re-priced assets in the quarter: € 13. 8 bn*In basis points* New granted transactions with price change

Product Dec-10 Sep-11 Dec-11 Var QoQVar YoY Dec-10 Sep-11 Dec-11 Var QoQVar YoY

Credits 225 296 361 +65 +136 194 244 262 +18 +68Loans 215 266 329 +63 +114 177 201 210 +9 +33Mortgages to individuals 89 130 123 -7 +34 75 80 81 +1 +6Leasing 170 194 216 +22 +46 105 116 119 +3 +14Commercial loans 277 290 341 +51 +64 303 320 355 +35 +52Confirming 211 223 252 +29 +41 200 220 243 +23 +43Forfaiting 234 267 365 +98 +131 228 240 317 +77 +89Total loans 213 242 285 +43 +72 148 163 173 +10 +25

Term deposit 1 month 150 77 95 +18 -55 132 61 75 +14 -57Term deposit 3 months 144 124 142 +18 -2 112 77 105 +28 -7Term deposit 6 months 132 151 148 -3 +16 144 79 106 +27 -38Term deposit 12 months 179 119 157 +38 -22 196 136 132 -4 -64Term deposit 18 months 215 149 218 +69 +3 206 187 191 +4 -15Term deposit 2 years 215 112 91 -21 -124 209 203 205 +2 -4Term deposit 3 years 196 144 290 +146 +94 112 143 +155 +12 +43Total term deposits 165 110 147 +37 -18 185 145 149 +4 -36

Front book spreads Back book spreads

… and a moderate increase in the cost of customer funds

1.47%1.80%

1.83%

1.79%

1.85% 1.98%2.06%

1.95% 1.86%1.78% 1.81%

1.65% 1.60% 1.62% 1.60% 1.56%

1.89% 1.99%

2.11%2.06%

1.80%1.91%2.05%

2.17%

2.31%2.52%

2.72%2.73%2.81%2.81%2.84%2.80%

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11

Net interest margin Customer spread

5.00%

3.57%

2.50%

5.93% 6.06% 6.28% 6.29%

5.56%4.93%

4.21%

3.79% 3.53% 3.49% 3.50% 3.65% 3.86%3.99% 4.12% 4.22%

3.13%

2.83%

3.22% 3.47% 3.48%

2.21%1.70% 1.48% 1.36%

1.44% 1.59%

1.85% 1.97% 2.00% 2.06% 2.11%

1.83%

5.06%4.83%4.78%

2.40%2.14%2.03%2.01%

1.49%1.28%

2.79%

1.58% 1.48%

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11

Customer loan yield Cost of customer funds Cost of wholesale funding 1111

Margin evolution(in %)

Satisfactory commission levels

31.2 30.7 28.1 32.8 31.7 29.1

54.2 51.8 53.160.8

75.6 71.4

43.8 41.6 42.4

45.9

30,9 27,9

59,1 61,4

45,8 46,4

45,449.0

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11

Commission income FY11:+11.1 % YoY

Commission income FY11 Like-for-like*: +3.1% YoY

129.3124.0 123.7

139.5 135.7152.6

135.7

1212

149.5

2010 2011

516.5573.6

* Including BG in 2010

1 Including mutual funds commissions and pension funds and non-life insurance brokerage

Commissions evolution(Euros in million)

Asset Mgmt1 Services Lending

Reduction in personnel expenses like-for-like …

159.9 162.2 162.5 172.6 179.0 176.0 179.6 179.0

1.0 2.9 3.2

9.02.8 4.213.115.5

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11Recurrent Non-recurrent

Personnel expenses FY11:+9.3% YoY

Personnel expenses FY11 Like-for-like*:

Recurrent personnel expenses FY11: +8.6% YoY

-3.0% YoY

160.9 165.1 165.7

188.1 192.1178.7 183.8

1313

188.0

Personnel expenses evolution(Euros in million)

Like-for-like cost reduction (-3.0% YoY)* Including BG in 2010 and 1 month of Lydian in 2010 and excluding non-recurrent expenses

… and declining general expenses excluding restructuring charges

Recurrent Sale & Leaseback

General expenses FY11:+13.0% YoY

General expenses FY11 Like-for-like*:

General expenses FY11:+10.4% YoY

-4.9% YoY

Non-recurrent

Significant reduction in costs on a like-for-like basis (-4.9% YoY)

76.082.4 84.3

93.484.4 84.6

93.5 99.3

5.17.6

7.97.9

7.97.9

7.6

2.9

6.2

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11

1414

General expenses evolution(Euros in million)

* Including BG, Sale & Leaseback costs in 2010 and 1 month of Lydian in 2010 but excluding restructuring charges

76.0

87.591.9

101.0 98.592.5

101.4110.1

42.1% 42.3% 43.6%46.2%

49.7%47.0% 47.6% 47.3%

Mar.10

Jun.10

Sep.10

Dec.10

Mar.11

Jun.11

Sep.11

Dec.11

1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11

The network optimisation continues

10,777

Cost to income ratio ex non-recurrent items* Dec 11: 45.7%

Branches Employees

10,721

10,610

10,699

1515

SUBAcquisition

B.GuipuzcoanoAcquisition

Lydian P. BankAcquisition

9,668 9,6159,559

9,466

9,839

9,746 9,701

1.382

10,675

Employee and branch evolution(in number)

Cost income evolution*(in %)

* Excluding gains from debt-for-equity transaction and other repurchase transactions in 2010

1,4671,4671,379 1,387

1,229 1,230 1,2231,214 1,221 1,2231,222

Continued efforts in provisions

1616

Evolution and breakdown of provisions and write-dow ns (Euros in million)

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11

Specific 228.0 212.2 186.1 124.7 142.2 143.4 158.6 86.5Extraordinary charge 0.0 90.0 46.0 66.0 186.2 0.0 0.0 22.8Implementation of regulation in loans (3/2010) 0.0 0.0 -120.0 0.0 0.0 0.0 0.0 0.0Substandard -54.2 -31.2 -61.9 -30.3 -32.8 -52.2 -53.2 -4.1Metrovacesa 0.0 0.0 0.0 76.1 0.0 0.0 0.0 0.0Real estate assets 46.0 209.8 160.9 49.9 30.0 62.4 41.2 106.3BCP 0.0 38.5 0.0 16.2 1.2 34.7 46.5 31.9Guaranteed funds write-down 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43.1Goodwill and others 8.9 5.3 12.2 4.2 0.8 9.3 12.1 15.0

Subtotal 228.6 524.6 223.3 306.8 327.6 197.6 205.1 301.4

Generic -61.2 1.7 -103.2 -152.6 2.5 17.9 16.6 -19.8

Total provisions and impairments 167.4 526.3 120.1 154. 2 330.1 215.5 221.7 281.6

2010 2011 pro-forma*

Comfortable level of core capital

Core capital evolutionIn %

8.20

1717

10.30

* Includes preferred shares repurchase of € 718 million (90% of € 797 million), equivalent to 128 basis points of core capital, completed on January 3rd, 2012.

Core capital 2011 pro-forma*: 10.30%

3. Commercial activity and liquidity

1818

2010 2011 % Var.

Individuals 200,507 286,560 +43%

Companies 39,611 55,536 +40%

Record year in customer acquisition …

Cuenta Expansión:186,802 new accounts

Cuenta Expansión Negocios: 86,200 new accounts

1919

Now reaching 2.7m customers, in line with CREA

Remarkable success in customer gathering

With two market-leading products paving the way in 3Q11

… reaching the targets of CREA …

0

5,000

10,000

15,000

20,000

25,000

30,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2010 2011

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

Ene Feb Mar Abr May Jun Jul Ago Sep Oct Nov Dec

2010 2011

Total in 2011: 286,560 new customers Total 2011: 55,536 new customers

2020

Monthly new individual customers Monthly new company customers

In line with the CREA plan

3.92%

4.78%

Dec. 10

Dec. 11

+86 bps

2.78%

3.44%

Dec. 10

Dec. 11

+66 bps

Household mortgages

6.44%

4.69%Dec. 10

Sep. 11

+175 bps

+41 bps

… achieving market share gains both in individuals …

2121

Household term deposits Transactionality 1

Payroll accounts

1 Including cheques, transfers, SEPA transfers, receivables and promissory notes

3,29%

3,70%

Dec. 10

Nov. 11

3.29%

3.70%

… as well as companies …

6.46%

7.25%

Dec. 10

Nov. 11

+79 bps

22.79%

25.52%

Dec. 10

Dec. 11

+273 bps

7.97%

10.22%

Dec. 10

Dec. 11

+225 bps

8.83%

9.00%

Dec. 10

Nov. 11

+17 bps

2222

Commercial lending

Sight deposits companies ICO loans (publicly subsidised loans)

Export documentary credit

… whilst maintaining the leading position in quality of service

7.247.20

7.327.21

7.54

7.29

6.78 6.95 6.77

6.61 6.116.06

2006 2007 2008 2009 2010 2011

Sabadell Sector

*

2323

New customer experience with BS compared with their expectations

Worse4.2%

No Opinion

1.1%

Much better30.9%

Similar29.9%

Better33.9%

95% of new customer are valuing BS service better or similar to

what they initially expected

Most valued by the customers

Source: STIGA “RCB Análisis de Calidad Objetiva en Redes Comerciales Bancarias” (4Q11) and FRS inmark. * Note: Without BG, the ranking increases until 7.39

Deposits are growing

2424

-2,000

-1,000

0

1,000

2,000

3,000

4,000

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11

2011: €3.9 billion

Customer funds and loans evolution

Change in commercial funding gap (Euros in million)

1 Excluding repos, including sight and fixed-term deposits, preference shares and mandatory convertible bond placed in the retail network

Note: Changes in commercial funding cap include commercial paper placed in the retail network

Euros in million

Dec-10 Sep-11 Dec-11% Var.

YoY

On-balance sheet customer funds1 49,374 51,388 52,827 7.0%Term deposits 30,092 31,639 32,820 9.1%Sight deposits 18,285 18,453 18,740 2.5%

Off-balance sheet funds 18,834 17,867 17,942 -4.7%Mutual funds 8,853 8,216 8,024 -9.4%Pension funds 3,016 2,705 2,858 -5.2%Third party insurance products 5,727 5,770 5,926 3.5%

Total funds 68,208 69,255 70,769 3.8%

Gross loans to customers ex repos 73,058 72,470 73,635 0.8%

4. Risk management

2525

Sep-11

Real Estate development and/or construction purposes 9,402 5,718 1,564 2,120 22.58% 21.22%Construction purposes non-related to real estate de v. 726 689 0 37 2.78% 2.42%Large corporates 22,590 21,573 237 780 2.85% 2.38%SME and small retailers and self-employed 19,082 17,673 268 1,141 5.69% 5.26%

Individuals wit 1st mortgage guarantee assets 16,677 1 6,104 1 572 3.43% 3.50%Of which

Purchase of 1st residence 13,674 13,278 1 395 2.89% 3.03%Other real guarantees assets 3,003 2,825 0 177 5.59% 5.59%

Individuals with other guarnatees 405 403 0 3 0.61% 1.69%Individuals other 2,067 1,977 0 90 4.21% 4.71%

Subtotal gross loans to customers 70,948

Other gross loans to customers 1 3,973

Total gross loans 74,922 5.95% 5.72%

NormalTotal

Dec-11

NPL ratio*

NPL ratio*

NPLSubst.

Credit exposure and NPLsaccording by purpose

2626

*Including off-balance sheet items

1 Including caption 4: public entities; caption 8:other assets and deferral adjustments

Euros in million

Coverage level of Real Estate exposure(Euros in million and %)

2727

Increasing coverage level of problematic assets

Sep-11

Gross amount

Provisions Coverage Coverage

NPLs 2,120 486 23%Substandard 1,564 235 15%Acquired and repossessed RE assets 4,006 1,158 29%Write-offs 106 106 100%Generic 832Potentially problematic exposure 7,796 2,817 36% 37%

Global coverage ratio 2,120 1,553 73% 77%

Dec-11

2828500

700

900

1,100

1,300

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11

Gross entries

Recoveries

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11

Gross entries 1,021 904 1,033 979 1,092 1,260 1,166 1,123

Recoveries -579 -592 -617 -728 -708 -698 -781 -834

Write-offs -183 -93 -201 -31 -335 -213 -240 -30

Subtotal 258 219 214 220 49 349 145 259

Non performing real estate assets in process of repossession 265 -265

Quarterly change on NPLs 258 219 214 220 314 83 145 259

Downward trend in new NPLs

NPL entries and recoveries evolution (Euros in million)

Sales of RE assets are improving

138414

93 179 245

638

308462

-90 -96 -67 -95 -118

498

-12 -30 -247,0

1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11

Repossessions Banco Guipuzcoano

Sales

2929

Sales in 2011: € 527 million*

Real estate assetsevolution of coverage levels(Euros in million)

Real estate assets Quarterly additions and sales (Euros in million)

3T11 4T11

Gross portfolio 3,791 4,006

Total fund 1,106 1,158

Net portfolio 2,685 2,848

Coverage 29% 29%

* Pre-provision cost

2009 2010 2011

Sales price 42 174 376

Pre-provision cost 55 228 527

Discount to pre-provision costs 23% 24% 29%Provisions built up 12% 23% 23%% of sales price not covered by provisions 11% 1% 6%

Initial sales target for 2011: € 400 million*Revised sales target for 2011 : € 480 million*

Actual sales 2011: € 527 million*

3030* Pre-provision cost

BS real estate asset sales evolution (Euros in million and %)

Real estate assets are sold at prices in line with current book value

5. BS during thecrisis 2007-2012

3131

Fundamentals and NII

BS response

0

2,000

4,000

6,000

8,000

'Mar-0

7Ju

n-07

Sep-0

7Dec-0

7M

ar-0

8Ju

n-08

Sep-0

8Dec-0

8M

ar-0

9Ju

n-09

Sep-0

9Dec-0

9M

ar-1

0Ju

n-10

Sep-1

0Dec-1

0M

ar-1

1Ju

n-11

Sep-1

1Dec-1

1

Accumulated NII. 2007-2011:€ 7,367 million

Challenges

� No growth in the Spanish economy

� Exports trend weakened by Eurozone slowdown

� Private sector in Spain is deleveraging gradually

� Weak domestic demand

� Significant downsizing in the real estate sector

Repricing capacity: ~ € 13 bn per quarter

3232

Liquidity and wholesale market

� Wholesale markets remainclosed

� Competition for deposits isgrowing to access funding

� BS has maturities of € 4 bn for2012

02,0004,0006,0008,000

10,00012,00014,00016,00018,00020,000

'Sep

-07

Mar-0

8Ju

n-08

Sep-0

8Dec

-08

Mar-0

9Ju

n-09

Sep-0

9Dec

-09

Mar-1

0Ju

n-10

Sep-1

0Dec

-10

Mar-1

1Ju

n-11

Sep-1

1Dec

-11

Accumulated commercialGAP

Sep2007-2011:€ 17,187 million

205%

139%

179%170%

148%

2007 2008 2009 2010 2011

Loan-to-deposits reduction2007-2011:

66 percentual points

3333

BS responseChallenges

Asset quality and real estate

� High unemployment rate, reaching 21.5% in 3Q11

� Reduction in public sector wages and hiring

� Withdrawal of social aids dueto the fiscal ajustmentsmeasures

� Downsizing in place, both in pricing and investment

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

'Mar-0

7Ju

n-07

Sep-0

7Dec-0

7M

ar-0

8Ju

n-08

Sep-0

8Dec-0

8M

ar-0

9Ju

n-09

Sep-0

9Dec-0

9M

ar-1

0Ju

n-10

Sep-1

0Dec-1

0M

ar-1

1Ju

n-11

Sep-1

1Dec-1

1

Building provisions for the futureAcc. Provisions built

2007-2011:€ 3,942 million

� Adequate provisions level

3434

BS responseChallenges

Capital

� Basel III requirements

� EBA stress tests taking place in July 2011

� New EBA stress test forsystemic entities, with a newthreshold of 9%

4%

5%

6%

7%

8%

9%

10%

11%

'mar-0

7jun

-07

sep-

07dic

-07

mar

-08

jun-0

8se

p-08

dic-0

8m

ar-0

9jun

-09

sep-

09dic

-09

mar

-10

jun-1

0se

p-10

dic-1

0m

ar-1

1jun

-11

sep-

11dic

-11

Debt-for-equity

Capital gainSale 50% insurancebusiness

Capital gainPref. Sharesrepurchase

Convertible bonds

issuance

Capital gainSale &

Leasebacktransaction

� Core capital increase(2007-2011): +423 bps

Pref. Sharesrepurchase

3535

BS responseChallenges

Optima Plan.Operational transformation

3636

Plan to boost the capacity of our business model in order to create value, optimising

our operating model

� Production cost reduction

� Transformation and centralizing of administrative tasks, freeing up commercial capacity at the branch level

� Leveraging our technological platform and introducing non-paper branches and call centre structure

� Improving the commercial scope by innovating new customer channels

2.252.00 1.95

1.671.37

1.25

2004 2006 2007 2008 2009 2010

Administrative FTEs* per branch

Total number of FTEs reduction within the program: 790

* FTEs = Full Time Equivalents

CREA Plan.Commercial transformation

3737

leverages on the Optima Plan,

crystallizing value and shifting focus to

additional market segments

� Leverage existing franchise and target new customers within current footprint

� Gain market share and attract 1 million new customers

� Focus on improving market share in individuals

� Improve brand recognition

� New incentive modelCREA target 2013

12.9%

10.1%

6.6 m 6.6 m

2.5 m

0.6 m 0.2 m

Annual gross income. Source: Bank of Spain and INE

Mid-high€27,000 to €60,000

High€60,000 to €200,000

Mid-low15,000 to 27,000€

Low<15,000€

12.0%

15.0%

6.8%

10.0%

3.6%

7.0%

2.1%3.0%

Very high>€200,000

Households in Spain BS market share

Spanish income distribution per household and BS market shares (in million and %)

Disciplined approach in creating value

Banco Sabadell total assets (Euros in million)

0

20.000

40.000

60.000

80.000

100.000

120.000

140.000

160.000

180.000

200.000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

BancoHerrero

BancoAtlántico

BancoUrquijo

BBVA Miami MUNB

BancoGui.

BancoCAM

Banco Sabadell has been focused on transactions that create value for the

shareholders

3838

2008 2009 2010 2011 2012

TAB

LydianPrivate

Bank

3939

Annex

4040

BS has a balanced fundingstructure …

Funding structure(In %)

Wholesale market breakdown(In %)

4141

Preferentes Institucional;

0,24%

Cédulas hipotecarias;

58,65%Deuda senior;

13,94%

Deuda subordinada;

8,97%

Medium Term Repo; 2,59%

Titulizaciones; 8,55%

Pagarés; 7,06%

Institutional Pref. Shares

0,24%

Covered Bonds 58,65%

Senior debt 13,94%

Subordinated debt

8,97%

Medium Term Repo2,59%

Securitisations 8,55%

ECP 7,06%Depositos

65,05%

Mercado Mayorista 23,30%

Papel comercial

1,04%

ECB 4,94%

Preferentes 1,07%

Repos 4,58%

Deposits 65,05%

Wholesale 23,30%

Client Commercial Paper 1,04%

ECB 4,94%

Pref. Shares 1,07%

Repos 4,58%

Euros in million

Liquidity position 11,399

CH issuing capacity 2,850CT issuing capacity 662

Total liquidity buffer 14,911

… with a comfortablematurity calendar

Wholesale funding maturity calendarIncluding Banco Guipuzcoano. Euros in million

Maturity by product type Euros in million

Short term fundingEuros in million and %

4242

900

1.30

245

0

300

1.00

00 0

200

01.

500

0 01.

875

774

0 5015

0030

020

00 0 13

170

100

1874

1.50

0

0

1.28

01.36

31Q

122Q

123Q

124Q

121Q

132Q

133Q

134Q

131Q

142Q

143Q

144Q

141Q

152Q

153Q

154Q

151Q

162Q

163Q

164Q

161Q

172Q

173Q

174Q

171Q

182Q

183Q

184Q

18O

TR

OS

2,5662,653

2,739

1,4422,3072,240

121%

89%

121%

75%

78%

87%

3T10 4T10 1T11 2T11 3T11 4T11

Outstanding amount commercialpaper + ECP (excl. BG)% renewal

2012 2013 2014 >2014Covered bonds 1,889 3,080 1,130 7,190Senior debt 1,647 75Asset backed guarantees 400Subordinated and preference shares 1,068Other mid- and long-term financial instruments 80 70 22

Total maturities 4,015 3,080 1,200 8,355

Maintaining the gap vs. the system

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11

System NPL BS NPL

Banco Sabadell vs. sector NPL ratio In %

Note: System NPL as of November 2011 (7.51%)

Source: Bank of Spain4343