28th January 2010

FY09 Results

Banco Sabadell

2

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.

3

Agenda

1. 2009 in summary

2. FY09 Results

3. Commercial activity and liquidity

4. Risk management

5. Strategy and guidance

4

-50

-40

-30

-20

-10

0

10

1998 2000 2002 2004 2006 2008-8-6

-4-2

02

46

8

20

30

40

50

60

70

1998 2000 2002 2004 2006 2008-6-4-202468

Business confidence (by levels) andreal GDP (YoY in %)

Source: Banco Sabadell*Numbers according to forecasts

Private consumption (rhs)

Consumer confidence

Consumer confidence (by levels) and Private consumption (YoY in %)

GDP (rhs)

Business confidence

Source: Bloomberg

The behaviour of the Spanish economy relies on five key drivers:

Export sectorDomestic demandPublic deficitReal Estate Unemployment rate

2008 2009* 2010*

GDP 0.9 -3.6 0.2

The Spanish economy: The stabilisation process has begun

5

90

140

190

240

290

1995 1998 2000 2003 2006 2009Spain Germany France Italy

-8-6-4-202468

1997 1999 2001 2003 2005 2007 2009

The export sector: Main driver of growth

Exports (real terms, 2Q95 = 100)

Source: EurostatSource: Bank of Spain

Domestic demand

Foreign demand

PIB growth contribution(percentage points)

Going forward, exports should be supported by the improvement in international trade. In fact, in the last two quarters, exports were positive in quarterly terms.

6

6

10

14

18

22

ene-96 ene-98 ene-00 ene-02 ene-04 ene-06 ene-08

Saving rate (as % of gross available income)Unemployment rate (as % of active population)

85

90

95

100

105

1 5 9 13 17 21 25 29 33 37

Domestic demand: Less negative tone

Employment in current and previous economic downturns (100 = peak previous to the recession)

3Q07

4Q91

4Q77

Source: INE

Although weak in relative terms, private consumption and investment in fixed capital are expected to show a more favourable evolution.

Households savings rate and unemployment rate

7

Public finances: Significant imbalances to remain

Source: Ministerio de Economía y Hacienda

Public debt (as % of the GDP)

Source: European Commission

-3.0-5.2-8.1-9.5-4.11.92.02012201120102009200820072006

General government balance (as % of the GDP)

0

20

40

60

80

100

120

140

Spain Euro zone Germany France Italy

2007 2008 2009 2010 2011

An elevated public deficit is likely to persist in 2010. However, the Government has recently announced steps to contain the deficit in the medium term.

Public debt, as a percentage of the GDP, is likely to stay below that of the Euro zone during the next couple of years.

8

-4

-3

-2

-1

0

Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09

-50

-30

-10

10

30

50

2005 2006 2007 2008 2009

Real estate: Adjustments to continue but at a milder pace

House prices (% QoQ)Number of mortgaged homes(moving three months average, YoYvariation, in %)

The adjustment in real estate is expected to continue due to excess supply. However, as some indicators already show, the pace of contraction is easing.

Source: INE Source: Ministerio Vivienda

9

Real estate: The impact on unemployment

Source: Eurostat

Employment (1Q08 = 100) Employment excl. construction (1Q08 = 100)

Source: Labour Force Survey (Eurostat)

Significant role of the construction sector in the reduction of employment

90

95

100

105

Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09Spain Germany France Italy United Kingdom

90

95

100

105

Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09Spain Germany France Italy United Kingdom

Spain Euro zone Spain Euro zone1995-1998 17.0 10.4 3.9 2.91999-2007 10.3 8.5 3.8 2.22008-2009 14.6 8.4 -1.1 -1.7

Averages during the period (%)

Unemployment rate Annual GDP growthLabour Force Survey (2Q09)

Spain 41.3Germany 47.1France 40.2Italy 38.6United Kingdom 46.7

Employed vs total population (in %)

10

2009 in summary

Active management of the net interest income through prices and hedging

Positive inflexion point in commissions

Excellent cost management: Optima plan consolidation

NPL entries showing a decreasing trend

High level of coverage ratio maintained

Outstanding capital and solvency ratios

11

Agenda

1. 2009 in summary

2. FY09 Results

3. Commercial activity and liquidity

4. Risk management

5. Strategy and guidance

12

2009 ResultsDec-08 Dec-09 09/08 (%)

Net Interest Income 1,452.8 1,600.6 10.2%Equity Method & Dividends 70.8 86.5 22.2%Commissions 557.7 511.2 -8.4%Trading Income & Forex 119.1 297.4 149.7%Other Operating Results 26.4 9.3 -64.6%Gross Operating Income 2,226.8 2,505.0 12.5%Personnel Costs -651.1 -715.3 9.9%Administrative Costs -328.0 -321.5 -2.0%Depreciations -133.1 -142.7 7.3%Pre-provisions Income 1,114.6 1,325.5 18.9%

Total Provisions & Impairments -879.7 -837.7 -4.8%Gains on sale of assets 24.9 83.6 235.2%Taxes and others -14.3 -48.9 240.6%Profit before Discontinued Results 245.5 522.5 112.9%Discontinued transactions Results 428.4 0.0 --Attributable Net Profit 673.8 522.5 -22.5%

13

6.67

0.62

1.442.49

1.70

7.66

2008 2009

BIS ratio (%)

Lower Tier I

Core Capital

Tier II

9.7810.80

Strong capital position

14

Margin evolution reflecting the interest rate environment …

1,600.61,452.8

Dec-08 Dec-09

+ 10.2 %

374.8

1,452.81,600.6

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09

347.1 363.0 367.9 394.6 418.6 402.3 385.2Dec-09

NII 1,600.6

Dividends 14.6

Equity Method 71.9

Commissions 511.2

Trading income 248.2

Forex 49.2

Other op. results 9.3

Gross Op. Income 2,505.0

Personnel exp. -715.3

Administration exp. -321.5

Deprec. & amort. -142.7

Pre-provision Op. Incom 1,325.5

Prov. for NPLs and others -836.9

Gains on sale of assets 83.6

Taxes and minority int. -49.6

Disc. transactions 0.0Attr. Net Profit 522.5

Euros in millions

15

2.73%2.81%2.80% 2.84% 2.81%

2.72% 2.52% 2.31%

3.79%

5.56%

6.28%5.93% 6.06% 6.29%

4.93%

4.21%

2.83%3.47%

3.13%

2.21%

3.22%3.48%

1.70%1.48%

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09

1.86%1.80% 1.83% 1.79% 1.85%1.98%

2.06%1.95%

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09

… but with a softened impact from hedging strategy and active price management

Customer loan yield

Cost of customer funds

Customer spread

Net Interest Margin

16

Commissions have started to recover…

43.7

54.7

37.040.8 33.3 34.1 28.6 31.229.8

61.5 52.251.2 52.852.1 51.960.6

40.4 42.345.338.146.5

48.544.447.9

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09

154.8

219.6

170.1

123.6

217.4

183.4

Dec-08 Dec-09

557.7 - 8.4%511.2

138.8 150.8 134.7 133.4 134.9 132.2 118.7 125.3

Euros in millions

Asset Mgmt1

Services

Lending

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

Asset Mgmt1

Services

Lending

Dec-09

NII 1,600.6

Dividends 14.6

Equity Method 71.9Commissions 511.2

Trading income 248.2

Forex 49.2

Other op. results 9.3

Gross Op. Income 2,505.0

Personnel exp. -715.3

Administration exp. -321.5

Deprec. & amort. -142.7

Pre-provision Op. Incom 1,325.5

Prov. for NPLs and others -836.9

Gains on sale of assets 83.6

Taxes and minority int. -49.6

Disc. transactions 0.0Attr. Net Profit 522.5

17

… and show a clear improvement trend for the next quarters

-1,200

-1,000

-800

-600

-400

-200

0

200

400

600

4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09

Net outflows at BS Asset Management

2009*Number of qualified BS Funds

Number of other qualified Spanish Asset Managers Funds

*11 BS Funds over 21 qualified funds

Outstanding Mutual Funds

BanSabadell Inversión: top of class in mutual funds qualified by S&P

Sabadell BS América Latina Bolsa, FI best return in its category in 2009

Mutual Funds Profitability2009

Advantageversus

benchmarkRanking

Fixed incomeSabadell BS RendimientoInstitucional, FI +4.5% +3.2% 14 / 349Sabadell BS Financial Capital, FI +26.3% +8.7% 5 / 73Equity incomeSabadell BS España Bolsa, FI +38.9% +10.9% 8 / 122Sabadell BS Euroacción, FI +31.3% +12.0% 19 / 170

Euros in millions

18

We continue to take advantage of revenues to apply non-recurrent charges

153.6 155.8 160.0 162.7 158.1 157.2 159.6 153.7

23,631.6 10.65.3 20.97.2 6.5

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09

628.7632.1

19.1 86.6

Dec-08 Dec-09

651.1 715.3

- 0.5%

Recurrent Non-recurrent

153.6

+ 9.9%

163.0 166.5 168.0 189.7 180.8

- 0.9%Life-for-like*

170.2 174.6 Dec-09

NII 1,600.6

Dividends 14.6

Equity Method 71.9

Commissions 511.2

Trading income 248.2

Forex 49.2

Other op. results 9.3

Gross Op. Income 2,505.0Personnel exp. -715.3

Administration exp. -321.5

Deprec. & amort. -142.7

Pre-provision Op. Incom 1,325.5

Prov. for NPLs and others -836.9

Gains on sale of assets 83.6

Taxes and minority int. -49.6

Disc. transactions 0.0Attr. Net Profit 522.5

Euros in millions. * Including Fincom, Tecnocredit and BBVA Miami in 2008

19

Good performance of administrative expenses

78.2 73.7 78.996.1

81.572.2 80.8 88.0

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09

328.0 321.5

Dec-08 Dec-09

328.0 321.5

- 2.0%

- 2.9%like-for-like*

- 8.4%Dec-09

NII 1,600.6

Dividends 14.6

Equity Method 71.9

Commissions 511.2

Trading income 248.2

Forex 49.2

Other op. results 9.3

Gross Op. Income 2,505.0

Personnel exp. -715.3Administration exp. -321.5

Deprec. & amort. -142.7

Pre-provision Op. Incom 1,325.5

Prov. for NPLs and others -836.9

Gains on sale of assets 83.6

Taxes and minority int. -49.6

Disc. transactions 0.0Attr. Net Profit 522.5

Euros in millions. * Including Fincom, Tecnocredit and BBVA Miami in 2008

20

The transformation plan continues to move forward …

FTEs* administrative by branch

1.251.37

1.591.67

2.25

2.00 1.95

1.541.44

2004 2006 2007 2008 1Q09 2Q09 3Q09 4Q09 2010P

2009FYD -348 FTE

The operating efficiency program continues to reduce back office time at the branch level

*FTE= Full Time Equivalents

Cost reduction measures

Supply management and implementation of right-sourcing

Improved management of the use of internal resources and travel.

Adjustment and optimisation of marketing campaigns

21

… and positive impact on efficiency

Number of branchesNumber of employees

9,668

10,015

10,18910,178

9,929

9,615 9,5599,466

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09

1,229

1,2601,257 1,2561,247

1,2301,223

1,214

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09

22

Total provisions and impairments

Maintaining a high coverage ratio driven by conservative policy

Solid coverage ratio of 69.0% Including the guarantees the coverage ratio would be 125.1%

Euros in millions

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 2008 2009

Specific 28.1 29.3 109.4 110.7 105.9 148.4 168.5 141.0 277.5 563.8 of which: NPLs entry 13.2 6.5 55.4 46.1 11.0 16.2 14.5 4.1 121.2 45.8 Calendar effect 14.8 37.1 48.6 56.9 80.8 121.7 155.2 174.8 157.4 532.5Substandar 0.2 10.1 214.0 85.3 41.9 87.5 258.7 3.4 309.6 391.5Metrovacesa 0.0 0.0 0.0 0.0 0.0 46.7 43.4 94.3 0.0 184.3Real estate assets 0.0 0.0 0.0 78.9 0.3 57.0 67.1 57.2 78.9 181.6BCP 0.0 0.0 0.0 100.0 0.0 0.0 0.0 210.0 100.0 210.0Goodwill and others -8.4 -0.2 68.3 52.0 1.0 -0.3 9.1 53.5 111.9 63.2

Subtotal 19.9 39.2 391.8 427.0 149.1 339.2 546.8 559.4 877.8 1,594.4

Generic 20.2 3.8 -10.1 -12.0 0.0 -129.4 -315.5 -311.8 1.9 -756.7

Total prov. and impair. 40.1 43.0 381.7 415.0 149.1 209.8 231.3 247.6 879.7 837.7

23

Agenda

1. 2009 in summary

2. FY09 Results

3. Commercial activity and liquidity

4. Risk management

5. Strategy and guidance

24

Commercial activity improvement throughout the year

64,704 65,013+ 4.9%

36,134 38,131 +5.5%

Dec-08 Dec-09 Var.

21,250 22,150 +4.2%

+0.5%

500

700

900

1,100

1,300

1,500

1,700

1,900

1Q 2Q 3Q 4Q1,250

1,750

2,250

2,750

3,250

3,750

1Q 2Q 3Q 4Q

2008

2009

2008

2009

Loans Mortgages

Loans to customers

On-balance sheet customer funds*Fix-term deposits

Loans to customers excluding real estate

* Excluding repos and including preference shares placed in the retail network and convertible bond issue. Euros in millions

25

91,

790

1,00

530

1,20

01,

075

01,

630

1,28

990

028

020

080

1,50

050

00

500

0 020

00

1,50

00 0

1,75

042

034

850

1500

300

200

0 0 1317

0

0

500

1,000

1,500

2,000

1Q10

3Q10

1Q11

3Q11

1Q12

3Q12

1Q13

3Q13

1Q14

3Q14

1Q15

3Q15

1Q16

3Q16

1Q17

3Q17

1Q18

3Q18

FINANCIACIÓN

Emisiones en mercados de capitales (no incluye las titulizaciones)

€1,000m covered bond issue successfully at the beginning of the year

Wholesale funding maturity calendar

A well-balanced maturity calendar

26

FINANCIACIÓN

Emisiones en mercados de capitales (no incluye las titulizaciones)

Bonds

Covered bonds

Total capital market issues

Wholesale funding maturities

€ 989 m€ 1,775 m

Solid market image versus peer group

€ 2,873 m

€ 2,764 m

Wholesale market activity

No use of state backed guarantees available to BS (€5,313m)

27

7.717.667.827.657.317.436.736.63

6.216.53 6.80 6.73

7.09 7.24 7.08 6.94

2002 2003 2004 2005 2006 2007 2008 2009Banco Sabadell group Market

Service quality and awards

Ranking in service quality 1

The only Spanish financial institution with a global ISO

9001 quality certificate

Renewal of the Global Award of

European Excellence

Ranking in retail banking network independent quality surveys2

Source: 1 Bank of Spain, 4Q08 Bulletin 2 STIGA, “RCB Objective Quality in Retail Banking Networks” 4Q09

28

Agenda

1. 2009 in summary

2. FY09 Results

3. Commercial activity and liquidity

4. Risk management

5. Strategy and guidance

29

NPL ratio

Source: Bank of Spain

02468

10

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

jun-09

sep-09

dic-09

System NPLs BS NPLs

* Banco Sabadell estimates

**

Continued NPL gap versus the rest of the sector

Mar-08 Jun-08 Sep-08 Dic-08 Mar-09 Jun-09 Sep-09 Dic-09

NPL ratio BS 0.62% 0.85% 1.59% 2.35% 2.82% 3.19% 3.47% 3.73%

NPL ratio system 1.20% 1.70% 2.63% 3.37% 4.27% 4.60% 4.86% 5.10%

GAP (bp) 58 85 104 102 145 141 139 137

30

750.0806.7

625.4

748.5823.7

735.7

531.9480.1

35.1

489.4

223.1

532.9

3Q08 4Q08 1Q09 2Q09 3Q09 4Q09

The improvement in the trend of new entries continuesEvolution of entries and recoveries

Entries

Recoveries

1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09

Entries 213.2 244.0 625.4 748.5 806.7 823.7 750.0 735.7

Recoveries -59.9 -42.2 -35.1 -223.1 -480.1 -532.9 -531.9 -489.4

Write-offs -39.4 -24.5 -40.9 0.5 -1.7 -25.4 -9.2 -31.2

Quarterly change on NPLs 113.9 177.3 549.5 525.8 324.8 265.4 208.9 215.1

31

532

Recoveries analysis

Evolution of court and non-court file recoveries

162

391 42232461

89121 110

165

15

412

20

3Q08 4Q08 1Q09 2Q09 3Q09 4Q09

Real estate repossession

Cash

6%

23%

29%

42%

Court file recoveries (FY09)

63%

37%

Non-court file recoveries (FY09)

Guarantees and commercial discount

Real estate repossession

Cash + reactivation “pulling effect”

Cash + reactivation “pulling effect"

Court files Non-court files

The pulling effect* explains 87.5% of non-court filings* The “pulling effect” means that all the debt goes into NPL even if the unpaid instalment is only a fraction of the total debt.

35 223 480 533 489

32

NPL ratio: New entries and recoveries by segments

NPL new entries Recoveries

Individuals 16%

Companies 54%

Real estate 24%

Self-employed 7%

Self-employed 7% Real estate

26%

Companies 56%

Individuals 11%

33

NPL by segments

Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09

Companies 0.35% 0.52% 1.28% 2.02% 2.54% 2.89% 2.97% 2.85%

SME 0.84% 1.07% 1.37% 2.17% 2.18% 2.77% 3.12% 3.07%

Small retailers and self-employed 1.04% 1.10% 1.37% 1.68% 2.42% 2.93% 3.59% 3.93%

Real estate development 0.42% 0.95% 2.99% 5.35% 7.34% 7.73% 8.05% 9.33%

Mortgages to individuals 0.47% 0.57% 0.75% 1.12% 1.48% 1.69% 1.99% 1.95%

Individual others 1.88% 1.98% 2.44% 3.21% 4.24% 4.91% 5.53% 5.43%

Total 0.62% 0.85% 1.59% 2.35% 2.82% 3.19% 3.47% 3.73%

34

NPL by segments

0

50

100

150

200

250

2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09-20

0

20

40

60

80

100

Individuals

TOTAL

SMEs

Real estate (LHS)

Quarterly cost of risk evolution

35

931 1,025 x.xxx1.1121,025

Dic-08 Mar-09 Jun-09 Sep-09 01/12/yy

-68

Solvia. Real estate assets

Portfolio evolution and writedowns

Euros in millions

Acquisition

Repossession

SalesWritedowns

931 1,275 1,442 1,661 1,742

-59 -59-129 -193

-43

250460

617

Dic-08 Mar-09 Jun-09 Sep-09 Dic-09

714

-244

-84

1,112

Significant real estate provisioning effort, with a net value of €1,498m

36

Solvia assets appraisal by type

17.9%

15.9%

13.6%

11.5%

8.5%

23.0%

5.6% 0.7%

Land under development

Land

Finished property

Real estate underdevelopment

2007-2009

Value loss in the first appraisal as percentage of July 2007 value

Accumulated provisions as percentage of the first value

Real estate assets appraisal analysis by type

6.3%

24.4%

29.4%

36.6%

The potential additional provision needs are already reflected in our financial forecasts

37

Madrid & Metropolitan area

23%

Barcelona & Metropolitan area

48%

Rest29%

BS manages actively its real estate assets through Solvia

Assets by type Geographic distributionAssets by useOther4%

Industrial12%

Residential75%

Tertiary9%

Land under development

52%

Finished property

8%

Real Estate under

development7%

Land33%

142 projectsNone of Solvia’s land is pending reclassification; all of it is “buildable” land 232 finished dwellings for sale (212 dwellings sold during 2009)

38

Agenda

1. 2009 in summary

2. FY09 Results

3. Commercial activity and liquidity

4. Risk management

5. Strategy and guidance

39

Domestic strategy Consolidate our SME and personal banking franchise

Leverage our know-how to expand into retail-focused segment

Increase the network to 1,800 branches

M&A

Well-positioned for future consolidation in the retail market

Trend towards fewer and more solid entities, in Spain as well as in Europe

Spain: consolidation and positioning

A clearly defined strategy for the group

40

US strategy

Leverage existing local banking presence

Merge Mellon &TAB operations, increasing critical mass

Extend expertise from private banking into affluent and SME segments

Sustainable growth history (AuM)

0

1

2

3

4

5

1.7

1.3

0.50.9

30%

20%

11%

39%

100%

$B 4.3+68%

CAGR

2007 Acquisition

TAB

2008 Acquisition

BBVA

2009 Acquisition

MUNB

2009BS Miami

2006BS Miami*

A clearly defined strategy for the group

41

Net interest income to decline mid-single digit with an improvement starting from 3Q10

Commissions increasing mid-single digit

Continued effort in costs (recurrent costs flat)

NPLs to peak at a level not higher than 5% in 3Q10

Growth in volumes and market share increase in loans and deposits

Continued leadership in balance sheet and capital management

Maintaining a favourable gap in NPLs and coverage ratio versus the peer group and the system

2010 will be a challenging year, but to a lesser degree than what the market is forecasting

Guidance 2010

42

The value of trust