It has been a true privilege to chair CaixaBank this year, especially given the achievements made in an environment marked by international uncertainty and significant global challenges.

We are living through a highly complex time, with changes in international relations, regional conflicts, new trade rules and demographic, technological and social trends of great impact: The world economy is in constant transformation.

Despite this environment, the resilience of the Spanish economy has been significant, showing positive dynamics in the main indicators and standing out as a benchmark within the Eurozone. The Portuguese economy has also performed very positively.

In this context, financial markets have performed extraordinarily well globally. In particular, the IBEX-35 was the strongest-performing index among major advanced economies, appreciating during the year by more than 49 %, the second largest gain in its history. The Spanish index has shown remarkable resilience in the face of the uncertainties and challenges of the year's economic and financial landscape.

This strong performance has been largely driven by the banking sector, which has played a key role in this revaluation. CaixaBank, in particular, recorded extraordinary gains during the year, almost doubling its share value from €5.24 to €10.45 as at 31 December. This strong performance is supported by a positive outlook for 2026.

The recognised profit of 5,891 million euros is evidence of an excellent year and of our capacity to evolve in a demanding environment, strengthening confidence in our company and offering an attractive remuneration to our shareholders.

In April 2025, we paid out 2,028 million euros as a supplementary dividend for 2024, which is equivalent to 53.5 % of last year's consolidated net profit. The 2025 dividend plan maintained the strategy of distributing 50-60 % of consolidated net income, and back in November, an interim dividend of 1,179 million euros was paid out. On 29 January 2026, the Board of Directors resolved to propose the approval of a final dividend of 2,320 million euros to the General Meeting of Shareholders, which would bring the total amount of cash shareholder remuneration equivalent to 59.4 % of consolidated net profit in 2025.

These figures allow us to be particularly satisfied with this first year of the 2025-27 Strategic Plan. We have strengthened our leadership, succeeded in accelerating our growth ambitions and planned transformation and remained committed to generating value for our shareholders and customers. Always remaining faithful to the essence that defines us: Our commitment to people.

Thanks to everybody's efforts at CaixaBank, we have exceeded the target set, always with the priority of offering differentiated value propositions and the best quality of service, as well as advancing towards a more sustainable economy and supporting the economic and social development of all people.

We promote key areas for this development through specific social and financial inclusion initiatives across the country, including rural and depopulated regions and the most vulnerable groups. We encourage training, employability and entrepreneurship and respond to the challenge of increasing longevity with value propositions for elderly people.

We must also recognise that 2025 was a year in which solidarity played a role. Thanks to the dedication of the entire company and our shareholders, we were able to support the Red Cross response plan against the effects of the catastrophic flooding. A specific support plan was also deployed for the victims of the fires that affected different regions of the country.

In short, we closed a very positive year marked by significant achievements, and we look ahead to 2026 in an excellent position to continue contributing to society's progress.