#1Strategic and Financial Analysis. Financial Division Institutional Presentation 2022 Santander#2Index 1 2 3 4 5 Our business model and strategy Santander Group structure and businesses 2022 results & activity Final remarks Links to public materials 2#3Santander 1. Our business model and strategy#4Santander, a leading financial group 2022 Highlights Total assets (€ bn) 1,735 Customer loans (€ bn excluding reverse repos) 1,019 Customer deposits + mutual funds (€ bn; excluding repos) 1,146 Branches 9,019 2022 Net operating income (pre-provision profit) (€ mn) 28,251 Simple Personal Fair 000 2022 Attributable profit (€ mn) 9,605 Market capitalization (€ bn; 30-12-22) 47 People (headcount) Customers (mn) 206,462 160 Shareholders (mn) 3.9 Communities 2019-2022 (mn; financially empowered people) >10 Santander 4#5The Santander Way Our purpose To help people and businesses prosper. We create value for all It is the bedrock on which we are building a more responsible bank Our aim To be the best open financial services platform, by acting responsibly and earning the lasting loyalty of our people, customers, shareholders and communities. Our how Everything we do should be Simple, Personal and Fair. Santander which motivates An engaged and talented team generates support for our communities customer loyalty so we deliver strong financial results for our shareholders leading to 5#6Santander business model 1. Customer focus Deepening the relationships with our customers through a simpler value proposition, superior customer experience and our digital proposition 2. Scale Local scale and global reach 3. Diversification¹ Our geographic and business diversification makes us more resilient under adverse circumstances Our business model is the foundation for generating value for our shareholders Santander (1) 2022 underlying attributable profit by region. Operating areas excluding Corporate Centre. North Europe America 25% 33% 31% 11% Digital South America Consumer Bank 6#701. Customer focus 160 million customers Digital Consumer Bank 12% We have grown our customer base over the last seven years, with balanced growth by region and business Distribution by market, Dec-22 O South America 44% Europe 28% North America 16% Our aim is to further enhance our customers' experience and satisfaction Customer satisfaction Top 3 NPS1 in 8 markets Santander (1) NPS-internal benchmark of individual customers' satisfaction audited by Stiga/Deloitte H2'22. 7#801. Customer focus 27.5 mn (+8%) Loyal customers We also increased loyalty and helped a new generation of customers with new ways to interact with their finances 25.3 mn (+8%) Individuals Santander 51.5 mn (+8%) Digital customers¹ Tech investments to transform the business ... ... €2 bn/year help customers transact online 2.2 mn (flat) Companies 80% Digital transactions of our core banks 55% Digital sales as a % of total sales Note: data as of Dec-22 and year-on-year changes. (1) Every physical or legal person, that, being part of a commercial bank, has logged in its personal area of internet banking or mobile phone or both in the last 30 days. 49.6 mn Mobile customers 8#901. Customer focus Traditional banking Digital banking Internet, mobiles, Branches, ATMs, retail agents, ... tablets, smartphones, smartwatches,... Traditional customer service and digital technology boost financial access Customer support services: available anytime, anywhere, anyhow Branches: >9,000 The largest branch network in the international banking world1 Collaborative spaces and increased digital capabilities WORK CAFE / SANTANDER Sparsely populated communities O Most vulnerable groups Santander Smart and Ágil branches ● Low-income communities O University students Santander Guaranteeing access for all segments Note: data as of Dec-22. (1) Excluding Chinese banks and Sberbank of Russia. ÅT WWW A 9#1002. Scale In-market scale in volumes Ranking in lending #51 In-market scale coupled with global network allowed us to be among the most profitable banks in our markets #3 #3 #1 #2 #32 #1 #2 Digital Consumer Bank #1 in Europe #2 Additionally, we are leaders in profitability in 4 out of 10 markets Our global and network businesses (CIB, WM&I, PagoNxt and Auto) represent >30% of Santander's total revenue and >50% of profit Santander Note: considering privately-owned banks. (1) Retail auto originations. (2) Mortgages. 10#1103. Well balanced profit and volume distribution Diversification Contribution to 2022 underlying attributable profit¹ Dec-22 Group's contribution² by primary segments Customer loans Customer funds 33% Our balanced profit 11% and volume diversification remains a source of 12% 57% 5% 65% 16% 15% 31% great strength and stability 25% 14% 16% Europe North America South America Digital Consumer Bank Santander (1) As a % of operating areas, excluding Corporate Centre (2) As a percentage of operating areas. Note: customer loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds. 11#1203. Diversification Business diversification among customer segments (individuals, SMEs, mid-market companies and large corporates) Santander Customer loans by business, Dec-22 SCIB, 14% Corporates 14% Individual mortgages, 34% Customer funds by business, Dec-22 SCIB, 15% Other individuals, 5% Corporates 14% SMEs, 10% Consumer, 23% Note: customer loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds. (1) Corporates and institutions. Individuals demand deposits, 34% Individuals time deposits, 7% SMEs, 9% Individuals mutual funds, 11% Consumer, 10% 12#13In summary Our strong model is reflected in the More resilience and lower volatility of results Differential Pre-provision profit / loans and Cost of credit 1.60% 0.62% 1.90% 1.89% 1.80% 1.80% 1.71% 1.61% 1.65% 1.65% 1.25% 1.21% التاااااات Filll 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 resilience of our business. It is a competitive strength that continues to differentiate us Pre-provision profit/loans 3.25% 3.06% 2.94% 3.04% 2.90% 2.83% 2.97% 2.89% 2.80% 2.49% 2.57% 2.70% Cost of risk¹ 2.44% 1.65% 1.69% 1.43% 1.25% 1.18% 1.07% 1.00% 1.00% 1.28% 0.77% 0.99% Santander EPS volatility calculated using quarterly data from Jan-99 to Q3'222 + + (1) Provisions to cover losses due to impairment of loans in the last 12 months / average customer loans and advances of the last 12 months. (2) Source: Bloomberg, with GAAP criteria. Standard deviation of the quarterly EPS starting from the first available data since Jan-99. 12% 39% 40% 42% 83% 98% 110% 119% 139% 318% 643% 13 اسد ***#14Environmental, Social and Governance Our ESG approach is embedded in all our businesses Green finance¹ SCIB Teams & Culture Women in senior positions5 Global eNPS6 c.29% c. €91bn Project finance Renewables² #2 global leader 54 (16 higher than companies average) SIA Equal pay gap c.1% Consumer businesses Aiding our customers' green transition and supporting our teams, strengthening our culture and promoting financial inclusion Electric vehicles €4.8bn WM&I Socially responsible investment AuMs4 €53bn 0000 Santander Social & Governance Rest³ €0.3bn Financial inclusion ahead of targets Financially empowered TTTY >10mn people since 2019 Innovative Partnerships: (RED) & Innoenergy Microcredits (LatAm) >€900mn Corporate Governance Board gender composition 40% women Note: 2022 provisional ESG figures. New business in 2022, unless stated otherwise. (1) Cumulative since 2019. Public target of €120bn by 2025 and €220bn by 2030. (2) According to Infralogic Dec-22 (3) Includes bicycles, solar panels, electric chargers, green heating systems, etc. (4) AuMs classified as Article 8 and 9 funds (SFDR) from SAM, plus third-party funds and other ESG products according to EU taxonomy from Private Banking. We apply equivalent ESG criteria to SAM's funds in Latin America. (5) Senior positions make up 1.2% of the total workforce. (6) Employee net promoter score. According to external benchmark Workday Peakon Employee Voice. 14#15ESG commitments 2018 2019 2020 2021 2022 2025/2030 target Electricity used from renewable energy sources 43% 50% 57% 75% 86% 100% 120bn by 2025 Green finance raised and facilitated (€) 19bn 33.8bn 65.7bn 90.9bn 220bn by 2030 We continue to make progress on our ESG agenda New Socially Responsible Investments AuMs (€) Thermal coal-related power & mining phase out (€) Emissions intensity of power generation portfolio Absolute emissions of energy portfolio 27bn 53bn 100bn by 2025 7bn 6bn --->0 by 2030 0.21 0.17 23.84 Emissions intensity of aviation portfolio 92.47 Emissions intensity of steel portfolio 1.58 0.11 tCO2e/MWh in 2030 16.98 mtCO2e in 2030 -61.71 grCO₂e / RPK in 2030 -1.07 tCO2e/tCS in 2030 Financially empowered people Women in senior positions Equal pay gap Santander Note: 2022 provisional data. 2mn 5mn 7mn 10mn 20% 23% 23.7% 26.3% 10mn by 2025 29.1% -30% by 2025 3% 2% 2% 1% 1% --~0% by 2025 --> From...to... Accumulated 15#16и тагета RVICIOS ICCION CIONES/ DISEÑO Santander bga 71 Bathoge 2. WORK CAFE SANTANDER Group structure and ⚫ businesses#17Group organizational structure • One Santander (Europe, North America and South America). New operating model leveraging our global scale to deliver a better customer experience, supported by common culture and higher degrees of commonality, technology being one • Digital Consumer Bank: our vision is to become the largest digital consumer bank in the world • Global businesses (SCIB, WM&I and Cards & Digital solutions) to enhance our local scale with global reach and collaboration 。 PagoNxt: innovative payments solutions for both Santander and non-Santander clients • The Corporate Centre and other functions servicing the whole Group Towards the Santander of Tomorrow Primary segments Europe North America South America Spain Portugal UK United States Poland Mexico Other Europe Brazil Chile Argentina Uruguay Peru Colombia SCF Secondary segments Digital Consumer Bank SCF Cw Openbank Retail Banking Includes Cards & Digital Solutions SCIB WM&I includes Private Banking, Asset Management and Insurance Group functions and Corporate Centre activities PagoNxt Internal Audit Strategy & Corporate Development General Secretariat¹ Comms & Marketing Risk & Compliance Chair's Office Technology & Operations Talent & Human Resources Financial Accounting Finance & Control Regulatory & Supervisory Relations Universities Santander (1) Includes Legal, Internal Governance, Tax and Security & Intelligence Investment Platforms & Corporate Investments Costs & Organisation 17#18Santander Primary segments 18#192022 Highlights Branches 3,148 00 MM Employees 65,581 Total customers (mn) 45.6 2 Digital customers (mn) 17.5 Customer loans (€ bn) 579 Customer funds (€ bn) 737 Underlying attributable profit (€ mn) 3,810 % ROTE¹ 12.5% Santander EUROPE 'Business transformation in order to achieve superior growth with a more efficient operating model' Strategic priorities Grow our business by serving our customers better, focusing on capital efficient opportunities, simplifying our mass market value proposition, improving customer experience and engaging with PagoNxt Make headway with our omnichannel strategy by redefining customer interaction, accelerating our digital transformation and maintaining close customer relationships through our teams Create a common operating model in Europe to serve our businesses through shared technology platforms and services (1) Adjusted ROTE: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 9.3%. Customer loans: gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds. More information at https://www.santander.com/en/about-us/where-we-are/europe 19#20Spain 'The commitment to and collaboration with our customers demonstrates the full potential of Santander España' 2022 Highlights Branches 1,913 ☐ 00 MA Employees 26,839 ■ Total customers (mn) 2 Digital customers (mn) Customer loans (€ bn) 14.3 5.9 250 Strategic priorities ■■ Grow our customer base providing the best customer experience across all channels Deliver an innovative and tailored value proposition to grow in high-value businesses Simplify product portfolio and automate processes to enhance operational excellence Customer funds (€ bn) 407 ■ Leverage our scale to grow our business and build a common operating model Underlying attributable profit (€ mn) 1,560 ROTE' 9.2% Continue optimizing our capital management through better capital allocation and balance sheet mobilization Santander (1) Adjusted ROTE: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 7.9%. Customer loans: gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds. More information at https://www.santander.com/en/about-us/where-we-are/santander-espana 20 20#212022 Highlights UK 'Santander UK creates value by serving customers with tailored financial products and services' Branches 449 00 Mй Employees 21,185 ☐ Strategic priorities ■■ Deliver growth through customer loyalty and outstanding customer experience Total customers (mn) 22.4 2 Digital customers (mn) 7.0 ■ Simplify and digitalize the business to improve efficiency and returns Customer loans (€ bn) 245 ◉ Engage, motivate and develop a talented and diverse team Customer funds (€ bn) 229 Underlying attributable profit (€ mn) A ROTE¹ 1,395 ◉ Be a responsible and sustainable business 15.4% Santander (1) Adjusted ROTE: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 10.7%. Customer loans: gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds. More information at https://www.santander.com/en/about-us/where-we-are/santander-uk 21 21#22Portugal 'A strategy focused on customer experience and digital solutions for sustained and profitable growth' 2022 Highlights Branches 383 00 Mй Employees 4,952 Strategic priorities ■■ Consolidate the commercial and digital integration model Total customers (mn) 2.9 Digital customers (mn) 1.1 Grow organically in terms of profitable market share, improving our lending leadership position Customer loans (€ bn) 40 Customer funds (€ bn) 46 Maintain our position as market leaders in efficiency, improving the cost base Underlying attributable profit (€ mn) 534 ROTE¹ 29.6% Maintain an appropriate risk policy with high credit quality and strong capital position Santander (1) Adjusted ROTE: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 15.0%. Customer loans: gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds. More information at https://www.santander.com/en/about-us/where-we-are/santander-portugal 22#232022 Highlights Branches 395 00 MA Employees 10,532 ■ Total customers (mn) 5.7 Digital customers (mn) 3.3 Customer loans (€ bn) 31 Customer funds (€ bn) 42 ■ Underlying attributable profit (€ mn) 364 ROTE¹ 18.1% Santander Poland 'One of the largest and most innovative financial institutions in Poland' Strategic priorities ■■ Aiming to maintain a position in the top 3 NPS in a highly competitive market As part of our simplification, digitalize areas and shorten processes in branches and in aftersales services Provide superior customer experience in every channel of contact with the bank Deliver the best employee experience (1) Adjusted ROTE: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 11.9%. Customer loans: Gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds. More information at https://www.santander.com/en/about-us/where-we-are/santander-polska 23#242022 Highlights Branches 1,854 00 MA Employees 44,518 Total customers (mn) 25.0 2 Digital customers (mn) 7.2 Customer loans (€ bn) 157 Customer funds (€ bn) 164 Underlying attributable profit (€ mn) 2,878 ROTE¹ 20.5% Santander NORTH AMERICA 'We provide a full range of financial services with a particular focus on Retail, Private and Corporate Banking' ■ Strategic priorities Simplifying our regional business model to generate efficiencies and profitable growth Boost customer attraction and retention, while broadening our tailored service and product proposition for a better customer experience Promote a common and regional approach through the promotion of strong collaboration between both countries and the Group Focus on expanding and implementing sustainable finance opportunities within our businesses (1) Adjusted ROTE: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 11.1%. Customer loans: gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds. More information at https://www.santander.com/en/about-us/where-we-are/north-america 24 24#252022 Highlights United States 'Santander US combines a strong depositary base in the Northeast with its nationwide auto finance, wealth management and corporate banking capabilities' Branches 485 00 MA Employees 14,610 Total customers (mn) 4.5 ■ Strategic priorities ■■ Simplification of our operating model and governance by reducing complexity of products and services Digital customers (mn) 1.0 Customer loans (€ bn) 115 Transformation to drive distinctive positioning through digitalization Customer funds (€ bn) 113 Underlying attributable profit (€ mn) ROTE¹ 1,784 Refocus US business around our consumer franchise and businesses that benefit from the Group's connectivity or have a competitive advantage 16.8% Santander (1) Adjusted ROTE: adjusted based on Group's deployed capital calculated as contribution of RWAS at 12%. Using tangible equity, ROTE is 9.4%. Customer loans: Gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds. More information at https://www.santander.com/en/about-us/where-we-are/santander-us 25#262022 Highlights Branches 1,369 00 MA Employees Total customers (mn) 2 Digital customers (mn) Customer loans (€ bn) ■ 28,834 20.2 6.0 41 Customer funds (€ bn) 51 Underlying attributable profit (€ mn) 1,213 ROTE' 35.4% Santander Mexico 'Santander México, one of the leading financial groups in the country, focused on commercial transformation and innovation' Strategic priorities ■■ To become the leading bank in terms of customer experience, leveraging new tools and improved processes Maintain strong growth rates in loyal and digital customers, as well as increase presence in high-potential businesses ■ Strengthen the corporate business to maintain our position as market leaders in value-added products Further the technological transformation and digitalization, through the execution of a multi-year plan to improve the operating model (1) Adjusted ROTE: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 16.9%. Customer loans: gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds. More information at https://www.santander.com/en/about-us/where-we-are/santander-mexico 26#272022 Highlights Branches 3,653 00 Mй Employees 78,271 Total customers (mn) 69.6 Digital customers (mn) 25.9 Customer loans (€ bn) 152 Customer funds (€ bn) 183 Underlying attributable profit (€ mn) 3,658 ROTE¹ 25.1% Santander SOUTH AMERICA 'We remain focused on expanding, sharing best practices from each country and delivering profitable growth' Strategic priorities ■■ Strengthen connectivity and share best practices across countries, capturing new business opportunities Focus on delivering profitable growth, increasing loyalty and customer attraction, improving customer experience while strengthening our risk and cost models Make headway in the development of joint initiatives between SCIB and corporates In payment methods, focus on e-commerce strategies and on immediate domestic and international transfers, and in expanding Getnet Continue to promote inclusive and sustainable businesses, such as micro-credit programmes, and further develop ESG initiatives (1) Adjusted RoTES: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 18.8%. Customer loans: gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds. More information at https://www.santander.com/en/about-us/where-we-are/south-america 27#28exeg Brazil 'The best way to grow in a profitable, recurring and sustainable manner is by providing high quality services' ■ Strategic priorities 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 Maintain 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 2022 Highlights Branches 2,847 00 MA Employees 55,993 Total customers (mn) 60.1 2 Digital customers (mn) 24.0 ■ Customer loans (€ bn) 92 Customer funds (€ bn) 121 Underlying attributable profit (€ mn) 2,544 ROTE¹ 24.9% Santander (1) Adjusted ROTE: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 19.2%. Customer loans: gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds. More information at https://www.santander.com/en/about-us/where-we-are/santander-brasil 28 88#29Chile 'We are the leading bank in the country and we always have the customer at the centre of our strategy' 2022 Highlights Branches 283 00 M Employees 9,773 Total customers (mn) 3.6 ■ Digital customers (mn) 2.0 Customer loans (€ bn) 45 ■ Strategic priorities ■■ Maintain our leadership position in NPS through the continuous improvement of our service quality Continue to progress in our technological developments in order to improve efficiency Transform the bank into a platform that customers can use as a channel or software provider to develop their businesses (e.g. Workcafé Community, Getnet) Customer funds (€ bn) 38 Continue to consolidate our position in the mass segment through Getnet and Life Underlying attributable profit (€ mn) ROTE' 677 28.7% Continue with our ESG strategy, increasing green finance and financially empowering our customers Santander (1) Adjusted ROTE: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 19.5%. Customer loans: gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds. More information at https://www.santander.com/en/about-us/where-we-are/santander-chile 29#302022 Highlights Argentina 'Working towards a more digital and agile model, with customer-centric decisions' Branches 375 00 MA Employees ☐ 8,251 Total customers (mn) 4.4 Strategic priorities ■■ Increase our customer base and loyalty, and ensuring the best customer service through our multi-channel strategy Further develop new businesses Digital customers (mn) 2.9 Customer loans (€ bn) 6 Continue our process of efficiency and simplification through digital transformation Customer funds (€ bn) 14 Underlying attributable profit (€ mn) 324 ROTE' 47.1% ■ Boost profitable growth, optimizing the use of capital and preserving the quality of the portfolio Be agile and collaborative, with challenging goals and clear priorities Santander (1) Adjusted ROTE: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 26.2%. Customer loans: gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds. More information at https://www.santander.com/en/about-us/where-we-are/santander-argentina 30#31Uruguay 'Santander Uruguay is the country's leading privately-owned bank' 2022 Highlights Peru 'Activity focused on corporates, the country's large companies and the Group's global customers (SCIB)' 2022 Highlights Colombia 'Focus on corporates and SCIB, and new alliances in auto finance' 2022 Highlights ☐☐☐ Underlying att. profit (€ mn) 138 Underlying att. profit (€ mn) 73 Underlying att. profit (€ mn) 27 ROTE¹ 33.1% одо ROTE¹ 20.1% одо ROTE¹ 10.6% Strategic priorities Further consolidate the business (Getnet's roll-out and strengthening SME offering) and accelerate the technological and digital development model Strategic priorities Continue expanding our global, corporate and retail customer base, driving greater synergies and expanding our microfinance businesses Strategic priorities Increase profitability with the new financial entity in consumer, develop Prospera and deepen the offer for Multilatinas in Corporates Santander (1) Adjusted RoTES: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 21.8% for Uruguay, 22.7% for Peru and 16.0% for Colombia. 31#322022 Highlights Digital Consumer Bank 'Europe's consumer finance leader: solid business model, geographic diversification and leading market shares in auto/mobility finance and in personal finance/e-commerce' ☐ Strategic priorities ■■ To become the largest digital consumer bank leveraging SCF's footprint, profiting from Openbank's technology and reinforcing our leadership with strategic alliances Auto: strengthening auto financing leadership by reinforcing mobility solutions with focus on leasing and subscription Consumer (non-auto): gaining market share in consumer lending, with focus on e-commerce checkout lending and buy now, pay later (BNPL) Simplification for efficiency: maintaining high speed digitalization in order to transform the business and improve efficiency ESG: enhancing green finance propositions in both auto and consumer loans (fully electric vehicles, electric chargers, solar panels, bikes, etc...) Branches 364 00 MA Employees 16,193 Active customers (mn) 19.7 Points of sale (k) >130 ☐ Customer loans (€ bn) 125 Customer funds (€bn) Underlying attributable profit (€ mn) ROTE¹ 62 ■ 1,308 ■ 14.4% Santander (1) Adjusted RoTES: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 13.7%. Customer loans: gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds. More information at https://www.santander.com/en/about-us/where-we-are/digital-consumer-bank 32#33Santander Secondary segments 33#34هههه 2022 Highlights Total revenue (€ mn) Efficiency ratio ROTE Underlying attributable profit (€ mn) 7,395 39.2% 22.0% 2,805 SCIB Corporate & Investment Banking 'Santander CIB supports corporate and institutional customers, offering tailored services and value-added wholesale products suited to their complexity and sophistication' Strategic priorities ■ Our ambition is to become a world class Corporate & Investment Bank, further transforming the business to become strategic advisors to our clients, and accelerating profitable growth - continue client diversification, strengthen advisory and content offering, scale and enhance markets product capabilities, accelerate capital rotation o US: aim to double the size of our franchise, with a focused strategy leveraging our areas of expertise and strengths to grow our business o Europe: ambition to becoming a CIB of reference in the region (top 5-10) across products o Latin America: aim to become the top CIB player in most countries/most products, consolidating our leadership and evolving from multi-country to pan-regional Leaders in League Tables FY'22 +17% Top 3 +35% Structured Finance Green Finance Export Finance Debt Capital Markets +38% GLOBAL FINANCE Outstanding Leadership in Sustainable Infrastructure Finance Awards FY'22 GTR Global Trade Review Best Supply Chain Finance Bank EUROMONEY Best Investment Bank in Spain Total revenue breakdown by business Revenue YoY growth by region Other 4% Global Markets 35% 0 Global Transaction Banking 38% Global Debt Financing 23% Santander Source: Dealogic, Infralogic, Bloomberg. More information at https://www.santander.com/en/about-us/where-we-are/santander-corporate---investment-banking 34#352022 Highlights 401 WM&I Wealth Management & Insurance 'We strive to become the best responsible wealth and insurance manager in Europe and the Americas' Santander Private Banking Santander Strategic priorities ■ Continue building our global platform leveraging the connectivity of our teams ■ Keep developing a more sophisticated value proposition ■ Nurture our PB segments, with a global service supporting cross-border clients in Private Wealth ■ Continue to be the preferred funds partner for our retail network ■ Become a relevant player in the Alternatives business Asset Management ■ Grow on the Institutional and Private Banking segments ■ Enable digital investment platform in all countries Total assets under management¹ (€ bn) Total fees generated as % of the Group's total fees² 31% ROTE 59.7% Underlying attributable profit (€ mn) 1,118 Total contribution to Group's profit³ (€ mn) 2,728 Total contribution to Group's profit³ +18% YoY Private Banking customers (k) 238 ■ Private Banking net new money (€bn) Santander Insurance 11.7 Santander Asset Management net sales (€ bn) -4.1 ΩΩ Insurance Gross written premiums +24% YoY Santander Working to be the preferred insurance provider for our customers ■ Focus on reducing cancellations improving customer lifetime value ▪ Leverage data analytics to deliver better service to our customers ESG transversal across our businesses: offer SRI advisory to all our PB customers, expand our sustainable product range to help reach our commitment of €100bn AuM by 2025, work towards our Net Zero target and create a sustainable insurance value proposition (1) Total assets marketed and/or managed. Private Banking + SAM excluding AuM of Private Banking customers managed by SAM. (2) Including fees generated by asset management and insurance transferred to the commercial network. (3) Profit after tax + net fee income generated by this business and excluding insurance one-offs in 2021. Otherwise, +10%. More information at https://www.santander.com/en/about-us/where-we-are/wealth-management-insurance EUROMONEY ✶ PRIVATE BANKING 2022 * BEST PRIVATE BANK AWARD 2023 GORANCE PUM The Banker GLOBAL PRIVATE BANKING AWARDS 2022 BEST PRIVATE BANK IN SPAIN PWM The Banker GLOBAL PRIVATE BANKING AWARDS 2022 BEST PRIVATE BANK IN MEXICO 35 XXXIII Premios Fondos 2022 Expansión allfunds PREMIO SALMON 2022 DIARIO FINANCIERO' LVAINDICES Platafor MBPL Bancara MELHOR BANCO DO ANO ***** \FGV 2021 Melhor B#362022 Highlights PagoNxt revenue (€ mn) 953; +72% YoY Merchants PagoNxt 'Innovative payments solutions for both Santander and non-Santander clients' We are a one-of-a-kind paytech business backed by Santander Helping our customers prosper and accelerate their growth through a one-stop shop, providing solutions beyond payments to merchants, SMEs & corporates and consumers Active merchants (mn) 1.32 Total payments volume (€ bn) 165; +27% YoY Business lines International Trade Active customers (One Trade & Ebury; k) >30 Santander Merchants Global and integrated acquiring, processing and value-added solutions for physical and e-comm merchants International Trade Specialized cross- border trading solutions for businesses in a global market yet to be fully digitalized Payments Wholesale account-to- account payment processing and instant connectivity to schemes in multiple countries Consumers Financial marketplace for the economic inclusion of the underbanked population with focus in Latin America Note: revenue and TPV in constant euros. More information on slide 58 (link to Financial report) and at https://www.santander.com/en/about-us/where-we-are/Pago Nxt 36#37Santander Group functions and Corporate Centre activities . Global T&O strategy HR strategy Risk management and compliance Corporate governance and internal control Our brand 37#38Technology and Operations (T&O) 'The T&O mission is to enable the Group strategy by building customer- oriented, secure, efficient and innovative technology working with the business units in a flexible and agile way' Global T&O capabilities are key for our commercial and digital transformation Composed of four main domains that contribute to the digital transformation Focused on five technological pillars to respond to the changing business needs Operating model oriented to develop global products and digital services, guaranteeing their quality and security Technology Cybersecurity Operations ATMs Data T Business needs Speed Innovation Security by design Cost Service quality Open business model *** Common Architecture Operational Excellence Agile (Business Embedding) Cloud Core Deep systems technology evolution skills Data Risk c.3,700 tech professionals Management (incl. cybersecurity).. The robust T&O service allows us to run the bank and serves our customers with high standards of quality even in uncertainty periods Santander 38#39HR strategy: Our aim is to be an employer of choice 'Focus on employee engagement, leveraging our SPF culture to retain and attract the best talent' 日は SHALOM 0 0 MM 206,462 Employees, Dec-22 ALOHA MERHABA The SPF culture is based on our 5 corporate behaviours Think customer Embrace change Act now TEA Continuous Employee Listening together Speak up MS Move Our corporate management evaluation model 10% risks 40% 98% workforce with a permanent contract in 20211 Average score (over 10) Your VOICE 8.8 50% what we do how we do it 54% 8.3 8.2 women in our workforce in 20211 among the best in the sector² Global Engagement score³ for Santander At benchmark4 Employees feel inspired by the purpose and mission of our organization5 0.1 above benchmark Employees feel their work is meaningful and bring value to our customers 0.1 above benchmark Engagement Source: Latest "Your Voice" engagement survey issued to the full organization from 26 September to 13 October 2022. Last available. (2) Santander (3) (4) Engagement score is over 10, and it is made up of 4 questions around engagement, loyalty, belief and satisfaction. Peakon benchmark for Finance companies. (5) Average score for question: "I'm inspired by the purpose and mission of our organization". (6) Average score for questions: "The work I do is meaningful to me", and "I see how my work contributes to positive outcomes for our customers". 39#40We rely on: Common Risk Principles aligned with regulatory requirements and inspired by best market practices Risk management and compliance 'Our solid Risk & Compliance function is key to ensuring that we remain a strong, secure and sustainable bank that helps people and businesses prosper' Advanced management processes & tools to effectively manage and control all risks under a forward-looking approach Risk Profile Assessment Continuous risk identification and Scenario Analysis Anticipating potential impacts to take early action Risk Appetite & structure of limits Amounts and types of risks deemed prudent to assume Risk Reporting Structure Comprehensive, versatile with deep analysis to facilitate decision making Customers Our proactive and customer-centric risk and compliance risk management has allowed us to maintain our medium-low risk profile despite the current macroeconomic environment 3 lines of defence model with a robust risk committees structure evaluation to address potential threats Clearly defined management and control processes Models & data unit Boosting our analytic capabilities to provide tailored value propositions for our customers through a cross-functional scope of risk & business models O Oversight Plan Risk & Compliance annual plans to better oversight and follow-up the implementation of long-term strategies ESG risk management We keep enhancing our capabilities for identifying climate risk drivers and embedding them into our key risk management processes Our strong Risk culture is based on the principle that all employees are risk managers, supporting long-term business sustainability More information on the Group's Overview of our Corporate Governance presentation. See link to this document on slide 58. risk pro Santander 40 40#41Diversified and well-balanced shareholder base Corporate governance and internal control 'As a responsible bank, we have a clear and robust governance which is key for guaranteeing a sustainable business model over the long term' Composition of the board of directors, Dec-22 Board committees 20.0% Executive Audit Effective engagement with our shareholders 66.7% 13.3% and investors Effective board of directors Focus on responsible business practices and attention to all stakeholders' interests Non-executive directors (independent) Executive directors Non-executive directors (neither proprietary nor independent) 40% Women 33% on the board 11% 2011 2015 2022 Nomination Remuneration Risk supervision, regulation and compliance Innovation and technology Responsible banking, sustainability and culture External advisory board International advisory board Santander More information on the Group's Overview of our Corporate Governance presentation. See link to this document on slide 58. 41#42Corporate governance and internal control 'Best practices on robust governance are channelled to all subsidiaries' Group-subsidiary governance model Group Board of Directors Group Executive Chair¹ Group CEO² Subsidiary B The Group-subsidiary governance model enhances control and oversight through: Subsidiary A A Board of Directors A Presence of the Group in the subsidiaries' boards of directors establishing guidelines for board structure, dynamics and effectiveness B CEO/Country Head B Regional Heads³ Reporting of the CEO / Country Heads to the Group CEO/ Regional Heads and Group executive committee Control, management and business functions ⚫ Compliance Control, management and business functions ⚫ Compliance C Interaction between the Group's and the subsidiaries' control, management and business functions ⚫ Audit . Risk ⚫ Finance • Financial Control / Accounting ⚫ Others4 Santander C • Audit ⚫ Risk • Finance . • Financial Control / Accounting • Others4 The Group's appointment and suitability assessment procedure is a key element of Governance (1) First executive. (2) Second executive who reports to the Board of Directors. (3) Europe, North America and South America, reporting to Group CEO. (4) Technology & Operations, Human Resources, General Secretariat, Marketing, Communications, Strategy, Santander Corporate & Investment Banking and Wealth Management & Insurance and Cards & Digital solutions. 42#43Santander E Let's make it Simple 1414 Santander Products #123LiteAccount The cument account shback on your household Pa Moble Barkan Let's make it simple Santander insurance Santander brand 'Our brand embeds the essence of the Group's culture and identity' Santander is one of the most valued brands in the world rd best global retail bank brand 3rd by Interbrand's Best Global Brands ranking, 2022 As one of our most important strategic assets, our brand helps us connect with people and businesses, demonstrating our commitment to prosperity and determination to bring it to life in a positive and sustainable manner every day. Santander More information at https://www.santander.com/en/about-us/our-brand Work Cafe P Santander Santander 75 Ray-Ban CEVA brembo NGK SKF VISTAJET aws Let's keep working for a better world #TheRightWay#44Santander 3.2 ⚫ 2022 results & activity#45Our strategy execution delivered record results with a 18% increase in attributable profit € Customers +7mn Customer focus and scale drove profitable growth Total revenue +12% Delivered record year in profit, with €2.3bn in Q4 Attributable profit €9.6bn % Increased profitability, shareholder value and returns 8 Santander ROTE 13.4% EPS +23% FL CET1 12.04% Further strengthened our rock-solid balance sheet COR 0.99% Note: FY'22 data or YoY changes in euros. In constant euros: attributable profit +8%, total revenue +6%. 45#46Record profit boosted by 12% revenue growth % change Constant € million 2022 2021 Euros euros NII 38,619 33,370 16 9 Net fee income 11,790 10,502 12 7 Trading and other income 1,745 2,532 -31 -37 Total revenue 52,154 46,404 12 6 Operating expenses -23,903 -21,415 12 7 Net operating income 28,251 24,989 13 5 Delivered on Group 2022 targets Revenue growth backed by volume increase and initial interest rate tailwinds Efficiency ratio improvement Based on operational improvements, record net operating income (representing 2.7% of loans) LLPs -10,509 -7,436 41 31 Other results -2,492 -2,293 9 8 COR <1% Underlying att. profit 9,605 8,654 11 2 ROTE: 13.4% Net capital gains and provisions' 0 -530 -100 -100 Attributable profit 9,605 8,124 18 8 Santander (1) 2021: restructuring costs (net of tax), corresponding mainly to the UK and Portugal. 46#47Increased profitability, shareholder remuneration and returns Profitability + EPS growth TNAVps + Cash DPS € cents ROTE EPS 53.9 13.4% 43.8 12.0% +23% YOY 2021 2022 2021 2022 € per share 4.37 4.12 +6% YOY 2021 2022 2022 includes €0.11 of cash dividends² Cash DPS1 growth: +16% YoY In the last two years, we have repurchased 5% of our outstanding shares³ Santander (1) Our 2022 shareholder remuneration policy is c.40% payout split in approximately equal parts (cash and share buybacks). Cash DPS estimated as 20% of the profit for the year. Implementation of the shareholder remuneration policy is subject to future corporate and regulatory decisions and approvals. (2) Including the cash dividends per share paid in May 2022 and November 2022. (3) Includes share buybacks completed in Nov-21, May-22 and January-23. 47#48Disciplined capital allocation plus our diversification further strengthen our rock-solid balance sheet Credit quality remained robust 0.99% 3.16% 3.08% 0.77% Improved NPL ratio Delivered on our CoR target (<1%) 2021 2022 2021 2022 High quality funding and conservative liquidity management High quality / stable retail funding 17% Wholesale 152% Regulatory requirement (100%) 83% Retail LCR Deposits Delivered on capital targets (FL CET1 >12% every quarter) 11.96% 12.04% Continued growth in FL CET1 Regulatory requirement (9.07%)² 2022 20211 2022 70% 80% 2022 target of 80% RWAs with ROE>CoE achieved 2021 Santander (1) Including acquisition of SC USA minority interest and Amherst Pierpont Securities completed at the beginning of 2022. (2) Regulatory requirement using estimated December 2022 countercyclical buffer. 48#49Strong business growth across the board reflected in high profit... Loans (€ bn) Deposits (€ bn) Contribution to Group's underlying profit Underlying attributable profit (€ mn) Underlying ROTE¹ Group +5% +9% 3,810 12.5% Europe 579 643 33% +38% +3% +9% +3.2 pp North 157 136 2,878 20.5% 25% America +9% +14% -14% -3.6 pp South 152 123 3,658 25.1% 31% America +10% +5% +1% -1.1 pp Digital 125 59 1,308 14.4% DCB Consumer Bank 11% +9% +7% +12% +1.3 pp Santander Note: YoY changes in constant euros. (1) Adjusted RoTES: adjusted based on Group's deployed capital calculated as contribution of RWAS at 12%. Using tangible equity, ROTE is 9.3% for Europe, 11.1% for North America, 18.8% for South America and 13.7% for DCB. 49#50...supported by great performance of our global businesses Global businesses € million and YoY changes in constant euros SCIB SCIB WM&I WM&I Santander Payments € million and YoY changes in constant euros Underlying att. profit ROTE Revenue Total Payments Volume 2,805 953 22.0% €165bn +31% PagoNxt +72% +4.5pp +27% Turnover 1,118 3,967 59.7% €302bn +15% Cards +19% +5.1pp +14% 50#51Our global businesses continue to drive in-market and Group profitable growth and value CIB: leaders in LatAm and strengthening common value proposition in Europe and the US Our global reach with local expertise generates additional business / revenue opportunities... Cross-border & collaboration revenue ...and supports higher and more predictable growth than peers... YoY changes +32% Revenue +11% €3.4bn +33% YoY 47% of CIB total revenue Efficiency ratio ...with better efficiency SAN 39% and profitability levels Peers 61% Santander WM&I: Top 3 Best Global Private Banking and preferred asset manager and insurance provider in LatAm and Europe Private Banking €51bn +2% YoY cross-border & collaboration AuMs 21% of total PB AuMs peers +34% YoY changes in constant euros +23% PBT +13% peers +24% +13% +1% - 0% -4% PB Revenue AM Revenue Insurance GWPs PBT/RWAS Efficiency ratio¹ PBT/AuMs¹ 3.7% SAN 45% 0.29% 2.4% Peers 69% 0.15% Note: Santander data - FY'22. Peer data - 9M'22 or latest available. Peer group corresponds to the those included in the benchmarking exercise for the variable renumeration calculations for these businesses. (1) Includes Private Banking and Asset Management. 51#52Auto and Payments global scale advantages and capabilities are driving profitable growth across our 10 core markets and beyond Auto mobility services: a worldwide leader supported by our global OEM partnerships New loan growth (YoY) New auto DCB +2% #1 in Europe in volumes and Market¹ -4% profitability... Used auto +15% -11% Payments: expanding our merchant and card capabilities through the Group Getnet Merchant acquiring Top 3 in LatAm Cards 97mn Scaling up our global platforms... Market share Mexico (# transactions) Cards managed globally DCB Efficiency ratio 47% ROA² 20% 18% +4mn 14% 2.01% YOY Peers 50% 1.06% 2020 2021 Nov-22 Market position % activity related to partner OEM relationships in Europe YoY changes in constant euros PagoNxt ...leveraging our position to grow in the #1 in LatAm Americas >40% ...with strong growth as we ramp-up business #5 in the US Santander Note: Santander data - FY'22. Peer data - 9M'22 or latest available. Peer group corresponds to the those included in the benchmarking exercise for the variable renumeration calculations for DCB. New auto change in number of new car registrations; used auto change in number of market transactions. PBT/ average outstanding loans (with operational lease). Cards +19% +14% Turnover Revenue 52#53Santander 4. • Final remarks#54We achieved our 2022 and 2019 medium-term Group financial targets 2019 medium-term targets 2022 2022 targets Mid-single digit Revenue +6% growth1 Efficiency ratio 42-45% ~45% 45.8% COR <1% 0.99% ROTE 13-15% >13% 13.4% FL CET1 11-12% ~12% 12.04% ✓ Payout 40-50% 40% 40% Santander Note: our 2022 shareholder remuneration policy is c.40% payout split in approximately equal parts (cash and share buybacks). Implementation of the shareholder remuneration policy is subject to future corporate and regulatory decisions and approvals. (1) In constant euros. 54 54#55Looking ahead, we are well positioned to drive profitable growth in 2023 We are confident that our customer focus and consistent track record in increasing profitability will enable us to achieve the following 2023 targets Revenue Efficiency ratio COR FL CET1 ROTE Double-digit growth 44-45% <1.2% >12% >15% Santander Note: targets market dependent. Based on macro assumptions aligned with international economic institutions. 55#56Santander INVESTOR | 28 February 2023 DAY LONDON KKKKKKKKKKKK 259 O PGS NE FUER P DATE SPEAKERS 28 February 2023 8.00 am -1.00 pm Ana Botín Executive Chair EVENT LOCATION Héctor Grisi CEO of Grupo Santander José García Cantera CFO of Grupo Santander 8 Northumberland Avenue London WC2N 5BY United Kingdom Phone: +44 20 3263 1011#57Santander Help millions around the world realise their dreams and prosper. 5. ● Links to public materials#58Links to Grupo Santander public materials For additional information on the Group, please click on the images, icons or flags below 2022 financial results Financial report Earnings presentation Series Hare Now. Financial Report lonuary-December 2 Earnings Presentation 2022 Santander Country presentations Press room USA UK Poland Portugal Mexico Spain ***Brazil Chile Santander * Argentina Digital Consumer Chair video (11 minutes) Bank (excel) XLS Shareholders report (interactive) Other information 2021 Digital Annual review Santander Shaders Fixed income presentation FIXED INCOME INVESTORS PRESENTATION Santander ESG Santander ESG Towards a more sustainable world Santander QUARTERLY SHARDHOLDER REPORT Outer Desi2103 Ratings Pilar 3 Sa-klar 1-tw www.santander.com Follow us on ₤ in Santander Santander Here. Now. Atalles 2021 Annual report Here. Annual report 2021 for you. Santander Overview of our Corporate Governance presentation 58#59Important 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. Forward-looking statements 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 Santander 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. 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. 59#60Important information 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 50 60#61Thank You. Our purpose is to help people and businesses prosper. Our culture is based on believing that everything we do should be: Simple Personal Fair Santander Member of Dow Jones Sustainability Indices Powered by the S&P Global CSA FTSE4Good