#11 Brazil 2022 Earnings Presentation 2 February 2023 Santander#2Important Information Non-IFRS and alternative performance measures This presentation contains financial information prepared according to International Financial Reporting Standards (IFRS) and taken from our consolidated financial statements, as well as alternative performance measures (APMs) as defined in the Guidelines on Alternative Performance Measures issued by the European Securities and Markets Authority (ESMA) on 5 October 2015, and other non-IFRS measures. The APMs and non- IFRS measures were calculated with information from Grupo Santander; however, they are neither defined or detailed in the applicable financial reporting framework nor audited or reviewed by our auditors. We use these APMs and non-IFRS measures when planning, monitoring and evaluating our performance. We consider them to be useful metrics for our management and investors to compare operating performance between accounting periods. Nonetheless, the APMs and non-IFRS measures are supplemental information; their purpose is not to substitute IFRS measures. Furthermore, companies in our industry and others may calculate or use APMs and non- IFRS measures differently, thus making them less useful for comparison purposes. For further details on APMs and Non-IFRS Measures, including their definition or a reconciliation between any applicable management indicators and the financial data presented in the consolidated financial statements prepared under IFRS, please see the 2021 Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the SEC) on 1 March 2022, as updated by the Form 6-K filed with the SEC on 8 April 2022 in order to reflect our new organizational and reporting structure, as well as the section "Alternative performance measures" of the annex to the Banco Santander, S.A. (Santander) Q4 2022 Financial Report, published as Inside Information on 2 February 2023. These documents are available on Santander's website (www.santander.com). Underlying measures, which are included in this presentation, are non-IFRS measures. The businesses included in each of our geographic segments and the accounting principles under which their results are presented here may differ from the businesses included and local applicable accounting principles of our public subsidiaries in such geographies. Accordingly, the results of operations and trends shown for our geographic segments may differ materially from those of such subsidiaries. Non-financial information This presentation contains, in addition to financial information, non-financial information (NFI), including environmental, social and governance-related metrics, statements, goals, commitments and opinions. NFI is included to comply with Spanish Act 11/2018 on non-financial information and diversity and to provide a broader view of our impact. NFI is not audited nor, save as expressly indicated under 'Auditors' review', reviewed by an external auditor. NFI is prepared following various external and internal frameworks, reporting guidelines and measurement, collection and verification methods and practices, which are materially different from those applicable to financial information and are in many cases emerging and evolving. NFI is based on various materiality thresholds, estimates, assumptions, judgments and underlying data derived internally and from third parties. NFI is thus subject to significant measurement uncertainties, may not be comparable to NFI of other companies or over time or across periods and its inclusion is not meant to imply that the information is fit for any particular purpose or that it is material to us under mandatory reporting standards. NFI is for informational purposes only and without any liability being accepted in connection with it except where such liability cannot be limited under overriding provisions of applicable law. Forward-looking statements Santander hereby announces that this presentation contains "forward-looking statements" as per the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such statements can be understood through words and expressions like "expect", "project", "anticipate", "should", "intend", "probability", "risk", "VaR", "RORAC", "RORWA", "TNAV", "target", "goal", "objective", "estimate", "future", "commitment", "commit", "focus", "pledge" and similar expressions. They include (but are not limited to) statements on future business development, shareholder remuneration policy and NFI. However, risks, uncertainties and other important factors may lead to developments and results to differ materially from those anticipated, expected, projected or assumed in forward-looking statements. Santander 2#3Important Information The following important factors (and others described elsewhere in this presentation and other risk factors, uncertainties or contingencies detailed in our most recent Form 20-F and subsequent 6-Ks filed with, or furnished to, the SEC), as well as other unknown or unpredictable factors, could affect our future development and results and could lead to outcomes materially different from what our forward-looking statements anticipate, expect, project or assume: (1) general economic or industry conditions (e.g., an economic downturn; higher volatility in the capital markets; inflation; deflation; changes in demographics, consumer spending, investment or saving habits; and the effects of the war in Ukraine or the COVID-19 pandemic in the global economy) in areas where we have significant operations or investments; (2) climate-related conditions, regulations, targets and weather events; (3) exposure to various market risks (e.g., risks from interest rates, foreign exchange rates, equity prices and new benchmark indices); (4) potential losses from early loan repayment, collateral depreciation or counterparty risk; (5) political instability in Spain, the UK, other European countries, Latin America and the US; (6) legislative, regulatory or tax changes (including regulatory capital and liquidity requirements), especially in view of the UK's exit from the European Union and increased regulation prompted by financial crises; (7) acquisition integration challenges arising from deviating management's resources and attention from other strategic opportunities and operational matters; and (8) uncertainty over the scope of actions that may be required by us, governments and others to achieve goals relating to climate, environmental and social matters, as well as the evolving nature of underlying science and industry and governmental standards and regulations; and (9) changes affecting our access to liquidity and funding on acceptable terms, especially due to credit spread shifts or credit rating downgrades for the entire group or core subsidiaries. Forward looking statements are based on current expectations and future estimates about Santander's and third-parties' operations and businesses and address matters that are uncertain to varying degrees, including, but not limited to developing standards that may change in the future; plans, projections, expectations, targets, objectives, strategies and goals relating to environmental, social, safety and governance performance, including expectations regarding future execution of Santander's and third-parties' energy and climate strategies, and the underlying assumptions and estimated impacts on Santander's and third-parties' businesses related thereto; Santander's and third-parties' approach, plans and expectations in relation to carbon use and targeted reductions of emissions; changes in operations or investments under existing or future environmental laws and regulations; and changes in government regulations and regulatory requirements, including those related to climate-related initiatives. Forward-looking statements are aspirational, should be regarded as indicative, preliminary and for illustrative purposes only, speak only as of the date of this presentation, are informed by the knowledge, information and views available on such date and are subject to change without notice. Santander is not required to update or revise any forward-looking statements, regardless of new information, future events or otherwise, except as required by applicable law. Not a securities offer This presentation and the information it contains does not constitute an offer to sell nor the solicitation of an offer to buy any securities. Past performance does not indicate future outcomes Statements about historical performance or growth rates must not be construed as suggesting that future performance, share price or results (including earnings per share) will necessarily be the same or higher than in a previous period. Nothing in this presentation should be taken as a profit and loss forecast. Third Party Information In this presentation, Santander relies on and refers to certain information and statistics obtained from publicly-available information and third-party sources, which it believes to be reliable. Neither Santander nor its directors, officers and employees have independently verified the accuracy or completeness of any such publicly-available and third-party information, make any representation or warranty as to the quality, fitness for a particular purpose, non-infringement, accuracy or completeness of such information or undertake any obligation to update such information after the date of this presentation. In no event shall Santander be liable for any use by any party of, for any decision made or action taken by any party in reliance upon, or for inaccuracies or errors in, or omission from, such publicly-available and third-party information contained herein. Any sources of publicly-available information and third-party information referred or contained herein retain all rights with respect to such information and use of such information herein shall not be deemed to grant a license to any third party. Santander 3#4Index 1 2 3 4 5 Financial system Strategy and business Santander Results Concluding remarks Appendix 4#5Total credit portfolio grew, with good performance in loans to individuals and SMEs Total loans (Constant € bn¹) 862 882 914 952 971 YOY (%) 16.6% 17.8% 16.3% 16.4% 14.7% Dec-21 Mar-22 Jun-22 Sep-22 Nov-22 Total customer funds (Constant € bn 1,2) Total loans continued to grow (+14.7% YoY) driven by both privately-owned banks (+15.3% YoY) and public banks (+13.9% YoY). By segment, credit to individuals continued to growth strongly (+18.5% YoY), driven mainly by credit cards, mortgages, personal loans and agribusiness loans. Corporate and SME loans grew at a solid pace (+9.4% YoY), mainly boosted by SMES (+15.3% YoY) while Corporate grew 4.7%. 1,963 2,032 2,052 1,866 1,906 Funding from customers increased 15.5 YoY, while mutual funds rose 7.4% YoY 10.8% YOY 10.8% 11.0% 8.5% 9.1% (%) Dec-21 Mar-22 Jun-22 Sep-22 Nov-22 Santander Source: Central Bank of Brazil. (1) End period exchange rate as of Nov-22. (2) Total Deposits+ mutual funds + other funding (debentures, real estate credit notes - LCI, agribusiness credit notes - LCA, financial bills (letras financeiras) and Certificate of Structured Transactions - COEs). 5#6Index 1 2 3 4 5 Financial system Strategy and business Santander Results Concluding remarks Appendix 6#7Santander Brasil has a solid strategy, which benefits from being part of a large international group Strategic Priorities KEY DATA 2022 YoY Var.6 Customer loans¹ €92.2bn +7.7% Customer funds² €120.9bn +2.9% Underlying att. Profit €2,544mn -6.7% ROTE³ 3 24.9% -2.8pp Efficiency ratio 32.4% +2.6pp Loans market share4 9.4% -78bps Deposits market share 4,5 10.5% +5bps Total customers 60.1mn +12.5% Digital customers 20.4mn +11.2% Branches 2,847 -3.9% 00 Employees 55,993 +5.9% (1) Gross loans excluding reverse repos. (2) Excluding repos. Expand our customer base and profitability, with robust new customer acquisition dynamics and steady loyalty growth Build a more integrated distribution platform, a benchmark in the market, to strengthen connectivity between businesses ▸ Keep loan quality indicators under control, backed by continuous enhancements to our risk models Consolidate the productivity culture, with a relentless pursuit for operational efficiency Maintain profitability levels by adapting to different scenarios through innovation Santander (3) Adjusted ROTE: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 19.2%. (4) As at Sep-22. (5) Including demand, savings and time deposits, LCA (agribusiness notes), LCI (real estate credit notes) and financial bills (letras financeiras). (6) Constant euros. 7#8Customer-centric strategy backed by a vision suited to each profile Total customers (mn) Loyal customers (mn) 53.4 +12% 60.1 Dec-21 Dec-22 8.0 +9% 8.7 Dec-21 Dec-22 Digital customers (mn) +11% 18.4 Dec-21 20.4 Dec-22 Digital sales/total: 53% (-1 pp YoY) ▸ Integrated sales channels, combined with a personalized offering for each customer profile, allow us to enhance customer experience ▸ 67% of new customer acquisitions were made through digital channels ▸ Mobile customers: +32% YoY ▸ Focus on enhancing customer experience by streamlining offerings and processes Santander (1) FY data. 8#9Business expansion focused on customer experience Mortgage 7% growth YoY' in the Individuals portfolio Share of Digital originations for individuals: 10% in Q4'22 Consumer Finance 23% market share in loans Insurance Ecosystem 8% growth YoY³ in insurance renewals helpS to individuals in Nov-22 30% of new financing contracts issued by Santander Financiamentos Santander Auto 21% growth YoY³ in policies acquired insurance through issued Reached 35,000 contracts in the year Assistance Service 31% increase YoY³ in digital capitalization contracts 16% growth YoY³ in the Auto Compara gross premiums 1 UseCasa (Home-Equity) $ 20% growth YoY in the Individuals portfolio Agro 23% market share² in Individuals Complete Agro ecosystem offering by providing comprehensive solutions along the entire chain, from equipment financing support to agricultural lending >>)) Innovative products & services Select Repositioning Service available to all customers AAA (Associate Allocation Advisor) Strengthening the investment platform Santander Perto Expansion of Sales Points Relaunch of Santander Perto with a new customer service format [] Cards Total turnover increased, despite decrease in card loans Acquisition strategy supported by customers with a better risk profile 99% of new customer additions derived from account holders in Q4'22 Santander (1) Dec-22 vs. Dec-21. (2) Oct-22. (3) 2022 vs. 2021. 9#10Loans rose 8% YoY mainly due to SMEs, Corporates and secured loans to individuals Total customer loans (Constant €bn) 1 91.7 92.2 88.4 85.6 85.4 Dec-22 Dec-21 YoY (%) QoQ (%) Individuals² 40.1 37.2 7.8 2.8 o/w Mortgages 10.4 9.8 6.7 1.5 o/w Consumer Credit 13.6 12.9 5.5 2.4 o/w Cards 7.1 7.4 -3.9 5.0 Consumer Finance 10.6 10.3 2.3 -0.1 SMES 10.4 9.8 6.4 2.6 Corporates & Institutions³ 31.0 28.3 9.8 -2.6 Total customer loans 92.2 85.6 7.7 0.5 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Santander Group criteria. (1) Excludes reverse repos. End period exchange rate as at Dec-22. (2) Includes Private Banking. (3) Includes Corporate, Institutions, CIB and other. 10#11Customer deposits increased 4% YoY as time deposit growth more than offset the decrease in demand deposits Total customer funds (Constant € bn) 1 120.9 117.5 118.0 118.3 114.5 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Dec-22 Dec-21 YoY (%) QoQ (%) Demand 16.3 18.6 -12.4 -6.9 Time 59.4 53.9 10.2 3.9 Total deposits 75.8 72.6 4.4 1.3 Mutual Funds 45.1 45.0 0.4 3.7 Total customer funds 120.9 117.5 2.9 2.2 2 Letras 16.7 11.5 44.9 3.6 Customer funds + Letras 137.6 129.0 6.6 2.4 Santander Group criteria. 11 (1) Excluding repos. End period exchange rate as at Dec-22. (2) Includes real estate credit notes (LCI), agribusiness credit notes (LCA), secured real estate notes (LIG) and financial bills.#12Index 1 2 Financial system Strategy and business Santander 3 4 Results Concluding remarks 5 Appendix 12#13NII fell 4% YoY due to the negative sensitivity to interest rate rises and more selective lending. However, slight increase in the quarter Net interest income (Constant € mn)1 Yields and Costs (%) 2,462 2,311 2,197 2,188 2,205 14.36% 14.89% 14.81% Yield on loans 14.90% 13.25% 8.52% Cost of deposits 8.60% 7.22% 6.15% 4.57% Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 NII/Average total assets 5.34% 5.04% Official interest rate² 8.30% 10.58% Differential 4.75% 4.62% 4.59% 8.7pp 8.2pp 7.7pp 6.3pp 6.3pp 12.47% 13.57% 13.75% Santander (1) Average exchange rate as at 12M'22. (2) Quarterly average. 13#14Net fee income rose 3% YoY mainly due to higher transactionality, supported by customer base growth Net fee income (Constant € mn)1 2022 2021 YoY (%) QoQ (%) Transactional fees 1,888 1,755 7.6 31.5 Payment methods 751 698 7.6 10.2 876 Foreign exchange 290 249 16.8 -9.7 826 830 801 currencies 789 Account admin + Packs 578 617 -6.4 -0.6 plans Other transactional 269 191 40.8 350.2 Investment and pension 174 196 -11.1 0.2 funds Insurance 791 804 -1.7 14.4 Securitites and custody 105 147 -28.4 -8.5 services Other 455 305 49.4 46.8 Total net fee income 3,296 3,206 2.8 11.0 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Santander (1) Average exchange rate as at 12M'22. 14#15Total income rose 1% YoY underpinned by net fee income and gains on financial transactions, which offset the NII decrease Total income (Constant € mn)1 3,295 3,256 3,263 3,186 3,205 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Santander (1) Average exchange rate as at 12M'22. 2022 2021 YoY (%) QoQ (%) Net interest income 8,901 9,248 -3.7 0.8 Net fee income 3,296 3,206 2.8 11.0 Customer revenue 12,197 12,454 -2.1 3.5 Other² 714 330 116.0 -40.6 Total income 12,910 12,785 1.0 0.6 (2) Other includes Gains (losses) on financial transactions and Other operating income. 15#16Costs increased 10% impacted by inflation, the salary agreement and higher operating expenses related to business growth Operating expenses (Constant € mn)¹ 1,160 2022 2021 YoY (%) QoQ (%) 1,025 1,003 1,030 987 Operating Expenses 4,180 3,803 9.9 12.6 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Santander (1) Average exchange rate as at 12M'22. Branches (#) 2,847 2,964 -3.9 -1.9 Employees (#) 55,993 52,871 5.9 4.3 16#17Net operating income decreased 3% YoY impacted by higher costs Net operating income (Constant € mn)1 2,270 2,253 2,276 2022 2021 YoY (%) QoQ (%) 2,156 2,045 Total income 12,910 12,785 1.0 0.6 Operating Expenses (4,180) (3,803) 9.9 12.6 Net operating income 8,730 8,981 -2.8 -5.1 Efficiency ratio 32.4% 29.7% 2.6pp Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Santander (1) Average exchange rate as at 12M'22. 17#18LLPs rose YoY driven by retail and a one-off in CIB in Q4. The quarterly CoR and LLPs peaked in Q2, having declined in Q3 and Q4 excluding the one-off Net LLPs (Constant € mn) 1 2022 2021 YoY (%) QoQ (%) 1,240 Net operating income 8,730 8,981 -2.8 -5.1 1,136 1,122 Loan-loss provisions (4,417) (3,191) 38.4 10.6 919 866 Net operating income after 4,313 5,790 -25.5 -22.2 provisions NPL ratio 7.57% 4.88% 269bps 94bps Cost of risk² 4.79% 3.73% 106bps 33bps Coverage ratio 80% 111% -31.7pp -9.7pp Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Santander (1) Average exchange rate as at 12M'22. (2) Cost of risk based on allowances for loan-loss provisions over the last 12 months / average loans and advances to customers over the last 12 months. 18#19Brazilian portfolio well-balanced between individuals and companies while we increased collateralization. 2022 impacted by a one-off, though main individuals' segments improved slightly Individual + CF portfolio breakdown Cost of risk 17% 16% 16% 16% 17% 17% (2% 2% 2% 2% 2% 72% Others 1 Agro 4.50% 4.89% 4.36% 4.06% 3.93% 4.35% 3.73% 4.79% 21% 21% 22% 21% 20% 19% Auto loans 2015 2016 2017 2018 2019 2020 2021 2022 Secured 24% 23% 19% 21% 21% 21% Mortgages I I 13% 16% 21% 21% 20% 21% Payroll loans Unsecured 17% 17% 17% 16% 17% Credit cards 16% Unsecured portfolio 6% 5% 3% 3% 4% 4% Personal loans 2015 2016 2019 2020 2021 2022 Personal loans 21.0% Strong growth of collateralized portfolio weight 18.9% 17.4% 14.0% 12.5% 9.9% 39.2% 36.8% % total 26.4% 28.4% portfolio secured¹ 36.3% 37.0% Credit cards 9.0% 9.4% 7.7% 7.1% 6.1% Secured portfolio 43% Corporates 48% 45% 45% 64% 62% + SMEs 7.42% Auto loans 4.33% 4.53% 5.25% Individuals 57% 52% 55% 55% 4.66% Payroll 4.42% 2.61% 3.45% 2.27% + 36% 38% Consumer Finance Loans 2015 2016 2019 2020 2021 2022 Q4'19 Q4'20 Q4'21 Q4'22 Santander (1) Secured portfolio includes mortgages, payroll loans, auto and agro. 19#20Underlying attributable profit fell 7% YoY impacted by higher costs and LLPs, partially offset by the increase in revenue and lower tax burden Underlying Attributable Profit (Constant € mn)1 2022 2021 YoY (%) QoQ (%) 715 662 677 PBT 4,055 5,419 -25.2 -28.3 643 Tax on profit (1,232) (2,382) -48.3 -43.0 510 Consolidated profit 2,822 3,036 -7.0 -22.3 Minority interests (278) (310) -10.1 -36.3 Underlying attributable profit 2,544 2,727 -6.7 -20.6 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Santander (1) Average exchange rate as at 12M'22. Effective tax rate 30.4% 44.0% -13.6pp 20 20#21Index 1 2 Financial system Strategy and business Santander 3 4 Results Concluding remarks 5 Appendix 21#22Growth underpinned by a customer-centric strategy, with potential opportunities for greater transactionality and profitability Financial System Total loans increased 14.7% YoY on the back of privately-owned banks and public banks Loans continued their strong growth, rising 18.5% YoY in individuals and +15.3% YoY in SMEs ▸ Total customer funds rose 11.0% YoY, while mutual funds increased 7.4% YoY Strategy & Business Business evolution driven by greater customer transactionality Loans rose 8% YoY mainly due to SMEs, Corporates and secured loans to individuals Customer deposits increased 4% YoY as time deposit growth more than offset the decrease in demand deposits 001 Results Total income rose 1% YoY underpinned by net fee income and gains on financial transactions, which offset the NII decrease Costs increased 10% impacted by inflation, the salary agreement and higher operating expenses related to business growth LLPs rose YoY driven by retail and a one-off in CIB in Q4. The quarterly CoR and LLPs peaked in Q2, having declined in Q3 and Q4 excluding the one-off Underlying attributable profit fell 7% YoY impacted by higher costs and LLPs, partially offset by the increase in revenue and lower tax burden Santander 22#23Index 1 2 3 4 Financial system Strategy and business Results Santander Concluding remarks 5 Appendix 23#24Balance sheet Constant € million¹ Variation Dec-22 Dec-21 Amount % Loans and advances to customers 86,202 81,744 4,458 5.5 Cash, central banks and credit institutions 40,858 31,765 9,093 28.6 Debt instruments 37,387 41,471 (4,084) (9.8) Other financial assets 5,682 11,329 (5,647) (49.8) Other asset accounts 14,037 12,030 2,007 16.7 Total assets 184,165 178,337 5,828 3.3 Customer deposits 89,957 83,299 6,658 8.0 Central banks and credit institutions 23,477 30,948 (7,471) (24.1) Marketable debt securities 23,997 15,364 8,632 56.2 Other financial liabilities 25,719 28,524 (2,805) (9.8) Other liabilities accounts 5,477 5,909 (432) (7.3) Total liabilities 168,627 164,044 4,582 2.8 Total equity 15,539 14,293 1,246 8.7 Other managed customer funds 51,049 50,017 1,031 2.1 Mutual funds 45,144 44,968 176 0.4 Pension funds 0 0 Managed portfolios 5,905 5,049 855 16.9 Santander (1) End of period exchange rate as at Dec-22. 24 14#25Income statement Constant € million¹ Variation 2022 2021 Amount % Net interest income 8,901 9,248 (346) (3.7) Net fee income 3,296 3,206 89 2.8 Gains (losses) on financial transactions 736 442 295 66.7 Other operating income (23) (111) 88 (79.4) Total income 12,910 12,785 126 1.0 Operating expenses (4,180) (3,803) (377) 9.9 Net operating income 8,730 8,981 (251) (2.8) Net loan-loss provisions (4,417) (3,191) (1,226) 38.4 Other gains (losses) and provisions (259) (372) 113 (30.4) Underlying profit before tax 4,055 5,419 (1,364) (25.2) Tax on profit (1,232) (2,382) 1,150 (48.3) Underlying profit from continuing operations 2,822 3,036 (214) (7.0) Net profit from discontinued operations Underlying consolidated profit 2,822 3,036 (214) (7.0) Non-controlling interests (278) (310) 31 (10.1) Underlying attributable profit to the parent 2,544 2,727 (183) (6.7) Santander (1) Average exchange rate as at 12M'22. 25#26Quarterly income statement Constant € million' Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Net interest income 2,164 2,253 2,368 2,462 2,311 2,197 2,188 2,205 Net fee income 769 821 791 826 801 830 789 876 Gains (losses) on financial transactions 154 91 139 57 97 245 211 184 Other operating income (22) (17) (22) (50) 47 (10) (1) (59) Total income 3,066 3,149 3,275 3,295 3,256 3,263 3,186 3,205 Operating expenses (879) (916) (983) (1,025) (1,003) (987) (1,030) (1,160) Net operating income 2,186 2,233 2,292 2,270 2,253 2,276 2,156 2,045 Net loan-loss provisions (668) (794) (864) (866) (919) (1,136) (1,122) (1,240) Other gains (losses) and provisions (117) (32) (102) (121) (123) (37) (20) (78) Underlying profit before tax 1,402 1,407 1,326 1,284 1,212 1,102 1,014 727 Tax on profit (644) (605) (586) (548) (456) (309) (297) (170) Underlying profit from continuing operations 758 803 740 735 755 794 716 557 Net profit from discontinued operations Underlying consolidated profit 758 803 740 735 755 794 716 557 Non-controlling interests (76) (77) (83) (73) (79) (79) (74) (47) Underlying attributable profit to the parent 682 726 657 662 677 715 643 510 Santander (1) Average exchange rate as at 12M'22. 26#27Thank You. 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