#1Strategic and Financial Analysis. Financial Division Institutional Presentation 9M'22 Santander#2Index 1 2 3 4 5 Our business model and strategy Santander Group structure and businesses 9M'22 results & activity Final remarks Links to public materials 2#3Santander 1. Our business model and strategy#4Santander, a leading financial group 9M'22 Highlights Total assets (€ bn) 1,816 Customer loans (€ bn excluding reverse repos) 1,040 Customer deposits + mutual funds (€ bn; excluding repos) 1,129 Branches 9,134 9M'22 Net operating income (pre-provision profit) (€ mn) 21,034 Simple Personal Fair 000 9M'22 Attributable profit (€ mn) 7,316 Market capitalization (€bn; 30-09-22) 40 People (headcount) 203,376 Customers (mn) 159 Shareholders (mn) 3.9 Communities 2019-9M'22 (mn; financially empowered people) 9 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) 9M'22 underlying attributable profit by region. Operating areas excluding Corporate Centre. North Europe America 26% 32% 32% 10% Digital South America Consumer Bank 6#701. Customer focus 159 million customers We have grown our customer base over the last seven years, with balanced growth by region and business Distribution by market, Sep-22 Digital Consumer Bank 12% South America 42% O Santander Europe 30% North America 16% (1) NPS internal benchmark of individual customers' satisfaction audited by Stiga / Deloitte H1'22. Our aim is to further enhance our customers' experience and satisfaction Customer satisfaction in NPS1 #1 Top 3 Top 4 7#801. Customer focus 26.8 mn (+8%) Loyal customers We also increased loyalty and helped a new generation of customers with new ways to interact with their finances 24.7 mn (+9%) Individuals Santander g 50.5 mn (+8%) Digital customers¹ Tech investments to transform the business ... ... €2 bn/year help customers transact online 2.2 mn (+1%) Companies 80% Digital transactions of our core banks 55% Digital sales 44.8 mn as a % of total sales Mobile customers Note: data as of Sep-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. 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 O Low-income communities O University students Guaranteeing access for all segments Santander Note: data as of Sep-22. (1) Excluding Chinese banks and Sberbank of Russia. ÅT WWW A 9#1002. Scale Market shares Local scale and leadership based on three regions. Worldwide reach through our global businesses and PagoNxt Santander 4% Auto lending 2% Deposits North America 10% Loans Europe 7% Deposits 18% Loans 12% Loans 13% Loans 12% Deposit 13% Deposits 11% Deposits South America 17% Loans 19% B SCIB 9% Loans 18% Loans 11% 17% Deposits Deposits 10% Loans 10% Deposits Santander Corporate & Investment Banking WM&I Deposits Digital Consumer Bank #1 European Consumer Bank PagoNxt Santander Wealth Management & Insurance PagoNxt Market share data: as at Jun-22 and Argentina, USA, Brazil and Digital Consumer Bank latest available. Spain includes Santander España + Hub Madrid + SCF España + Openbank and Other Resident sectors in deposits. The UK: includes London Branch. Poland: including SCF business in Poland. The US: retail auto loans includes Santander Consumer USA and Chrysler Capital combined. Deposits considering all states where Santander Bank operates. Brazil: deposits including debenture, LCA (agribusiness notes), LCI (real estate credit notes), financial bills (letras financeiras) and COE (certificates of structured operations). 10#1103. Well balanced profit and volume distribution Diversification Contribution to 9M'22 underlying attributable profit¹ Sep-22 Group's contribution² by primary segments Customer loans Customer funds 32% Our balanced profit 10% and volume diversification remains a source of 12% 57% 5% 63% 15% 17% 32% great strength and stability 26% 16% 15% 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 Customer loans by business, Sep-22 Customer funds by business, Sep-22 Individual mortgages, 33% SCIB, 14% SCIB, 15% (individuals, SMEs, mid-market companies and large corporates) Corporates, 14% Santander 1 Other individuals, Corporates, 14% SMES, 10% Consumer, 22% 6% Note: customer loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds.. (1) Corporates and institutions. Individuals demand deposits, 35% Individuals time deposits, 6% SMEs, 10% Individuals mutual funds, 11% Consumer, 10% 12#13In summary More resilience and lower volatility of results Differential Pre-provision profit / loans and Cost of credit EPS volatility calculated using quarterly data from Jan-99 to Q2'222 0.62% 1.25% illl 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 9M'22 1.90% 1.89% 1.80% 1.80% 1.77% 1.61% 1.65% 1.65% 1.21% || 12% 39% 40% 42% 83% 95% Pre-provision profit/loans 115% 3.25% 3.06% 2.94% 3.04% 2.90% 2.83% 2.97% 2.89% 2.80% 2.49% 2.57% 2.63% + + 120% 139% Cost of credit¹ 2.44% 1.65% 1.69% 1.43% 1.25% 1.18% 1.07% 1.00% 1.00% 1.28% 0.77% 0.86% 320% 647% Our strong model is reflected in the resilience of our business. It is a competitive strength that continues to differentiate us 1.60% Santander (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. Considering annualized 9M'22 provisions, cost of credit would be 0.95%. (2) Source: Bloomberg, with GAAP criteria. Standard deviation of the quarterly EPS starting from the first available data since Jan-99. 13 اسد ***#14Environmental, Social and Governance Supporting the green transition of our customers and committed to financial inclusion Key green and sustainability metrics Mobilized Green¹ ~€79bn since 2019 Target: €120bn by 2025 9M'22 Global League tables position² #1 Renewables Project Finance 9M'22 Green loans >€3bn from SCF >100k electric vehicles Socially Responsible Investment AuM³ €54bn Sep-22 Target: €100bn by 2025 Social & Governance 9M'22 Microfinance >€670mn >1.1mn microentrepreneurs 8 Latam countries Top management ESG incentives 20% of long-term incentives in scorecard Santander Note: 9M'22 data not audited. (1) Only SCIB global business. (2) According to Inframation 9M'22. (3) 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. 14#15ESG commitments Electricity from renewable sources Green finance raised and facilitated (€) We continue to make progress on our ESG agenda New AuMs in Socially Responsible Investments (€) • Thermal coal-related power & mining phase out (€) Emissions intensity of power generation portfolio Absolute emissions of energy portfolio Emissions intensity of aviation portfolio Emissions intensity of steel portfolio Financially empowered people Women in senior positions Equal pay gap Santander Note: 2022 data not audited. (*) H1'22 data. 2018 2019 2020 2021 9M'22 2025/2030 target 43% 50% 57% 75% 100% 120bn by 2025 19bn 33.8bn 65.7bn 78.7bn 220bn by 2030 27bn 54bn 7.0bn 0.21 0.17 23.84 92.47 1.58 100bn by 2025 0 by 2030 0.11 tCO2e/MWh in 2030 16.98 mtCO2e in 2030 -61.71 grCO₂e / RPK in 2030 -1.07 tCO2e/tCS in 2030 2mn 5mn 7mn 9mn 20% 23% 23.7% 26.3% 10mn by 2025 27.9% -30% by 2025 3% 2% 1.5% 1.0% ->~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#19EUROPE 'Accelerating our business transformation in One Europe to achieve superior growth with a more efficient operating model' 9M'22 Highlights Strategic priorities Branches 3,163 00 MM Employees 64,925 Total customers (mn) 46.8 Grow our business by better serving our customers through regional simplification and an improved value proposition Digital customers (mn) 17.2 Customer loans (€ bn) 590 Redefine customer interaction, enhancing our digital capabilities to offer comprehensive experiences (such as OneApp) Customer funds (€ bn) 715 Underlying attributable profit (€ mn) ROTE¹ 2,837 Create a common operating model that embeds technology into our business, leveraging our scale in the region 12.5% Santander (1) Adjusted ROTE: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 9.1%. 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/europe 19#20Spain 'The commitment to and collaboration with our customers demonstrates the full potential of Santander España' 9M'22 Highlights Branches 1,914 00 MA Employees 26,674 Total customers (mn) 14.1 2 Digital customers (mn) 5.8 Customer loans (€ bn) 257 Customer funds (€ bn) 391 ◉ Underlying attributable profit (€ mn) 1,104 ■ 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 and automate products, processes and operations to enhance operational excellence Leverage our scale across One Europe to grow our business and build a common operating model Improve our capital management through better capital allocation and balance sheet mobilization and rotation ROTE' 8.8% ■ Accelerate evolution towards an Agile organization Santander (1) Adjusted ROTE: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 7.5%. 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-espana 20 20#21UK 'Santander UK creates value by serving customers with tailored financial products and services' 9M'22 Highlights Branches 449 00 Mй Employees 20,818 Strategic priorities ■■ Deliver growth through customer loyalty and outstanding customer experience Total customers (mn) 23.7 2 Digital customers (mn) 7.0 ■ Simplify and digitalize the business to improve efficiency and returns Customer loans (€ bn) 248 ◉ Engage, motivate and develop a talented and diverse team Customer funds (€ bn) 224 Underlying attributable profit (€ mn) A ROTE¹ 1,138 ◉ Be a responsible and sustainable business 16.6% Santander (1) Adjusted ROTE: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 11.3%. 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/santander-uk 21 21#22Portugal 'A strategy focused on customer experience and digital solutions for sustained and profitable growth' 9M'22 Highlights Branches 385 00 Mй Employees 4,953 Strategic priorities ■■ Consolidate the commercial and digital integration model Total customers (mn) 3.0 Digital customers (mn) 1.1 Grow organically in terms of profitable market share, improving our lending leadership position Customer loans (€ bn) 41 Customer funds (€ bn) 47 Maintain our position as market leaders in efficiency, improving the cost base Underlying attributable profit (€ mn) 360 ROTE¹ 26.7% 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 13.2%. 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-portugal 22#23Poland 'One of the largest and most innovative financial institutions in Poland' 9M'22 Highlights Branches 407 00 MA Employees 10,502 Total customers (mn) 5.7 ■ Digital customers (mn) 3.2 Customer loans (€ bn) 30 Customer funds (€ bn) 40 Strategic priorities ■■ Improve customer satisfaction, remaining at least among the Top 3 in NPS As part of our simplification, digitalize areas and shorten processes in branches and in aftersales services Focus on omnichannel with the goal of increasing the number of digital customers Underlying attributable profit (€ mn) 229 We are strengthening our brand as a socially responsible bank ROTE¹ 15.1% Santander (1) Adjusted ROTE: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 10.1%. 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/santander-polska 23#249M'22 Highlights Branches 1,852 00 MA Employees 44,500 Total customers (mn) 25.7 2 Digital customers (mn) Customer loans (€ bn) 7.0 165 Customer funds (€ bn) 164 Underlying attributable profit (€ mn) 2,271 ROTE¹ 21.8% Santander NORTH AMERICA 'We provide a full range of financial services with particular focus on Retail, Private and Corporate Banking' ■ Strategic priorities ■■ Strengthen One Santander in North America by unifying a common and regional approach to forge future growth within the region Boost customer attraction and retention, while broadening our tailored products and services proposition for a more straightforward customer experience Leverage our regional capabilities and sharing best practices to optimize expenses and improve profitability 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 11.5%. 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/north-america 24 24#259M'22 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 484 00 MA Employees 14,705 Total customers (mn) 4.6 Digital customers (mn) 1.0 • Customer loans (€ bn) 121 Customer funds (€ bn) 111 Strategic priorities ■■ Positioned to deliver above cost of capital returns across core businesses Refocus the US on our market leading consumer franchise Simplification: disciplined capital allocation. Continue focusing our resources and capital on products and services where we can achieve scale and profitable growth (Auto, CRE, CIB) Underlying attributable profit (€ mn) 1,489 • Synergies from 2021 strategic investments (Crédit Agricole / Amherst Pierpont / SC USA minority interests)² ROTE¹ 18.8% Santander (1) Adjusted ROTE: adjusted based on Group's deployed capital calculated as contribution of RWAS at 12%. Using tangible equity, ROTE is 10.3%. (2) Acquisition of SC USA minority interest closed on 31 January 2022. Acquisition of Amherst Pierpont received regulatory approval in April 2022. 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#269M'22 Highlights 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 Branches 00 1,368 MA Employees Total customers (mn) 2 Digital customers (mn) Customer loans (€ bn) ■ 28,783 20.9 5.8 43 Customer funds (€ bn) 52 Underlying attributable profit (€ mn) 874 ROTE' 34.7% Santander (1) Adjusted ROTE: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 16.6%. 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#27SOUTH AMERICA 'We remain focused on expanding, sharing best practices from each country and delivering profitable growth' 9M'22 Highlights Branches 3,754 00 Mй Employees 76,028 Total customers (mn) 67.4 Digital customers (mn) 25.4 Customer loans (€ bn) 159 Customer funds (€ bn) 191 Strategic priorities ■■ Strengthen connectivity and share best practices across countries, capturing new business opportunities Focus on delivering profitable growth, increasing loyalty and customer attraction, as well as controlling risks and costs Make headway in the development of joint initiatives between SCIB and corporates In payment methods, focus on e-commerce strategies, on the business of instant domestic and international transfers and in expanding Getnet Underlying attributable profit (€ mn) 2,884 ROTE¹ 26.6% Continue to promote inclusive and sustainable businesses, such as micro-credit programmes, and further developed ESG initiatives Santander (1) Adjusted RoTES: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 20.0%. 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/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 9M'22 Highlights Branches 2,903 00 MA Employees 53,699 Total customers (mn) 57.7 2 Digital customers (mn) 19.9 ■ Customer loans (€ bn) 98 Customer funds (€ bn) 126 Underlying attributable profit (€ mn) 2,027 ROTE¹ 26.8% Santander (1) Adjusted ROTE: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 20.7%. 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-brasil 28 88#299M'22 Highlights Branches 301 00 M Employees 9,798 Total customers (mn) 4.0 ■ Digital customers (mn) 2.0 Customer loans (€ bn) 43 Customer funds (€ bn) 38 Underlying attributable profit (€ mn) ROTE' 551 ■ 30.9% Santander Chile 'We are the leading bank in the country and we always have the customer at the centre of our strategy' ☐ 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) Continue to consolidate our position in the mass segment through Life and Superdigital Continue with our ESG strategy, increasing green finance and financially empowering our customers (1) Adjusted ROTE: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 21.6%. 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#309M'22 Highlights Argentina 'Working towards a more digital and agile model, with customer-centric decisions' Branches 403 00 MA Employees ☐ 8,452 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) 2.8 Customer loans (€ bn) 7 Continue our process of efficiency and simplification through digital transformation Customer funds (€ bn) 15 Underlying attributable profit (€ mn) 234 ROTE' 37.0% ■ 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 21.8%. 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/santander-argentina 30#31Uruguay 'Santander Uruguay is the country's leading privately-owned bank' 9M'22 Highlights Peru 'Activity focused on corporates, the country's large companies and the Group's global customers (SCIB)' 9M'22 Highlights Colombia 'Focus on corporates and SCIB, and new alliances in auto finance' 9M'22 Highlights ☐☐☐ Underlying att. profit (€ mn) 96 Underlying att. profit (€ mn) 52 ROTE¹ 31.3% одо ROTE¹ 19.4% هههه Underlying att. profit (€ mn) 22 ROTE¹ 11.4% 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 21.2% for Uruguay, 22.2% for Peru and 17.3% for Colombia. 31#329M'22 Highlights Branches 365 ☐ 00 MA Employees 16,066 Active customers (mn) 19.5 Points of sale (k) >130 ☐ Customer loans (€ bn) 121 60 60 Customer funds (€bn) Underlying attributable profit (€ mn) ROTE¹ Santander 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, e-bikes, etc...) 908 ■ 13.4% (1) Adjusted ROTES: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 12.7%. 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 9M'22 Highlights Total income (€ mn) Collaboration revenue ROTE Underlying attributable profit (€ mn) 5,597 +34% YoY 24.8% 2,364 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 ■ Continue the business transformation to partner with our clients as strategic advisors, strengthening our value-added services, with an increased focus on ESG and Digital solutions ■ In Europe, our aim is to become one of the relevant European CIB players by strengthening our advisory capabilities leveraging a pan-European platform to better serve our global clients' needs ■ In South America, our ambition is to become the top CIB player in most countries and products, consolidating our leadership position evolving from multi-country to pan-regional In the US, our aim is to up-tier our CIB franchise to compete on a level playing field. Focus on the Amherst Pierpont Securities (APS) integration as a step to deliver on our growth aspirations Leaders in League Tables Q3'22 Total income breakdown by business Revenue YoY growth by region Other 4% +16% Global Markets 38% 0 Global Transaction Banking 35% Global Debt Financing 23% Top 3 +33% Structured Finance Green Finance +34% Santander Debt Capital Markets Source: Dealogic, Inframation, Bloomberg More information at https://www.santander.com/en/about-us/where-we-are/santander-corporate---investment-banking Recent Awards Institutional LATINFINANCE GlobalCapital Investor Best Iberian Broker Finance 2022 Project & infrastructure Finance Awards: Bank of the Year - Southern Cone Latin America Derivatives House of the Year 34#359M'22 Highlights Total assets under management¹ (€ bn) 402 Total fees generated as % of the Group's total fees² 31% Santander Private Banking o Deploy the best digital tools ROTE 59.5% B:EOE Underlying attributable profit (€ mn) 818 Total contribution to Group's profit³ (€ mn) Total contribution to Group's profit³ Private Banking customers (k) Private Banking collaboration volume Private Banking net new money (€ bn) 1,997 +17% YoY >230 +18% YoY 9.5 Santander Insurance Santander Asset Management net sales (€ bn) -2.8 288 Insurance Gross written premiums +24% YoY Santander ■ Increase customer base penetration ESG transversal across our businesses: offer sustainable investment management in our private banking platform, expand our SRI range to help reach our commitment of €100bn AuM by 2025, work towards our Net Zero commitments 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. 35 MBPL Banco forma p MELHOR BANCO DO AND \FGV 2021 WM&I Wealth Management & Insurance 'We strive to become the best responsible wealth and insurance manager in Europe and the Americas' Santander Asset Management Strategic priorities Continue to build our global platform 。 Expand and develop our product and service proposition Renew or improve our top 3 position as Best Global Private Bank according to Euromoney (clients up to $250mn) ■ Continue to be the preferred funds partner for our retail network • Complete the creation of the global hubs o Expand the One Investments model and methodologies • Work to complete the implementation of our digital funds distribution platforms Optimize our customer service by completing our digital proposition using customer data Manage our portfolio to extend policy life EUROMONEY ✶ PRIVATE BANKING 2022 * PRIVATE BEST P BANK AWARD 2022 GLOBAL FINANCE Pum The Banker GLOBAL PRIVATE BANKING AWARDS 2021 BEST PRIVATE BANK IN MEXICO XXXIII Premios Fondos 2022 Expansión allfunds PREMIO SALMÓN 2022 DIARIO FINANCIERO' LVAINDICES (3) Profit after tax + net fee income generated by this business and excluding insurance one-offs in 2021. Otherwise, +6%. More information at https://www.santander.com/en/about-us/where-we-are/wealth-management-insurance#369M'22 Highlights PagoNxt revenue (€ mn) Merchants 655; +75% YoY 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) 1.27; +3% YoY Total payments volume (€ bn) 117; +29% 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 geographies Consumers Financial marketplace for the economic inclusion of the underbanked population with focus in Latam Note: revenue and TPV in constant euros. More information on slide 56 (link to Financial report) and at https://www.santander.com/en/about-us/where-we-are/PagoNxt 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.3,600 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#39日は SHALOM 0 0 DA 203,376 Employees, Sep-22 98% workforce with a permanent contract in 20211 54% women in our workforce in 20211 ALOHA MERHABA HR 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' The SPF culture is based on our 5 corporate behaviours Think customer T Embrace change Act now Move together EAM Speak S up Our corporate management evaluation model 40% 50% what we do how we do it 8.3 Great FT DIVERSITY LEADERS sense = | 2021 Bloomberg Gender-Equality top Index 2022 EMPLOYERS INSTITUTE Place Only bank among world's top 25 best To Work.co workplaces according to Great Place to Work Engagement among the best in the sector² Global Engagement score³ for Santander (at benchmark4) Employees feel inspired by the purpose and mission of our organization rating this aspect5 Last available. Santander (2) (3) (4) Source: "Your Voice" engagement survey issued to the full organization on 13 October 2022 Engagement score is over 10, and it is made up of 4 questions around engagement, loyalty, belief and satisfaction. Peakon benchmark for Finance companies. Question: I'm inspired by the purpose and mission of our organization. 8.2 10% risks 39#40We rely on: Risk management and compliance 'Our solid Risk & Compliance function is key to making sure we remain a robust, safe and sustainable bank that helps people and businesses prosper' 3 lines of defence model with a robust risk committees structure * Advanced management tools to effectively manage and control all risks under a forward-looking approach Risk Profile Assessment Continuous risk identification and evaluation to address potential threats 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 management has allowed us to maintain our medium-low risk profile despite the current macroeconomic environment Clearly defined management and control processes Common Risk Principles aligned with regulatory requirements and inspired by best market practices risk pro Santander 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 Risk management and control is key in supporting our customers' green transition and the fulfilment of our sustainable goals 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 page 56. 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, Sep-221 Board committees 21.4% Executive Audit Effective engagement with our shareholders 64.3% 14.3% 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) 42% Women 33% on the board 11% 2011 2015 Sep-22 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 page 56. (1) The board of directors of Banco Santander is set up of 15 directors, as agreed by the general meeting of shareholders held on 1 April 2022. However, since 1 July it is temporarily composed of 14 members due to the vacancy left by R. Martín Chávez. As a result of this, the percentages above have been adapted accordingly. 41#42Corporate governance and internal control 'Best practices on robust governance are channelled to all subsidiaries' Group-subsidiary governance model Group Board of Directors Subsidiary B The Group-subsidiary governance model enhances control and oversight through: Subsidiary A A Group Executive Chairman¹ Group CEO² 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 (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, 2021 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. • 9M'22 results & activity#45Executing our strategy to drive greater growth, profitability and strength Steady growth in customers, volumes and revenue ▸ Activity remained robust supported by larger customer base (+8mn) ▸ Accelerating revenue growth. NII +5% QoQ Volumes¹ +6% NII + Fee income¹ ▸ Favourable FX impact. In euros, volumes +10% and NII + Fees +15% +8% Increased profitability ► Q3'22 profit of €2.4bn after -€181mn from payment holidays in Poland ▸ 9M'22 attributable profit: €7.3bn (+25%; +14% in constant euros) EPS +31% ROTE 13.6% Strength improvements ▸ Credit quality remains robust. New LLPs to cover macro uncertainties ▸ Continued net organic capital generation: 26bps in the quarter COR 0.86% FL CET1 12.10% Shareholder value creation ► Interim distribution: €5.83 cents cash DPS and €979mn share buyback Cash DPS +20% ▸ TNAVps increased to €4.31 TNAVps + Cash DPS +11% Santander Note: YoY changes. EPS and ROTE as of 9M'22. (1) In constant euros. 45#46Steady customer growth and commercial strategy reflected in volume increases in all regions, segments and products ... Mn customers and € bn volumes YoY % changes in constant euros Europe Customers Loans Deposits Loan breakdown YoY % changes in constant euros 46.8 590 622 +1% +5% +7% €346bn +7% North 25.7 165 134 America +4% +9% +3% €406bn +6% €289bn +7% 152 SCIB +14% Other Private Bkg LOLODO +13% -1% Cards Non-Auto +12% 77 +7% 254 SMES & Corporates +2% Auto 154 +6% South 67.4 159 130 America +10% +13% +6% Digital 19.5 121 57 DCB Consumer Bank +2% +6% +6% Individual mortgages Consumer & others Group +5% +7% +6% Santander Companies 46 46#47... driving double-digit profit growth, and reflecting our geographic and business diversification and connectivity across the Group % change Contribution Constant € million 9M'22 9M'21 Euros euros to Group's underlying profit Underlying attributable profit ROTE² (€ mn) NII 28,460 24,654 15 8 Net fee income 8,867 7,810 14 7 2,837 12.5% 32% Europe +32% +2.9 pp Trading and other income 1,302 2,162 -40 -45 Total revenue 38,629 34,626 12 5 North 2,271 21.8% 26% Operating expenses -17,595 -15,778 12 6 America -9% -2.6 pp Net operating income 21,034 18,848 12 3 South 2,884 26.6% LLPS -7,491 -5,973 25 17 32% America +6% +0.6 pp Other results -1,782 -1,443 23 22 Underlying PBT 11,761 11,432 3 -6 Digital 908 13.4% 10% Underlying att. profit 7,316 6,379 15 5 Consumer Bank +11% +1.3 pp Net capital gains and provisions' 0 -530 -100 -100 Attributable profit 7,316 5,849 25 14 47 Santander (1) 9M'21: restructuring costs (net of tax), corresponding mainly to the UK and Portugal. (2) Adjusted ROTES: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 9.1% for Europe, 11.5% for North America, 20.0% for South America and 12.7% for DCB.#48SCIB and WM&I € million and YoY changes in constant euros SCIB SCIB WM&I WM&I Santander Underlying att. profit ROTE 2,364 Payments € million and YoY changes in constant euros 24.8% +36% PagoNxt +6.2pp Revenue Total Payments Volume 655 €117bn +75% +29% Turnover 818 2,971 59.5% €223bn +7% Cards +25% +1.7pp +16% 48 44#49Our strategy is paying off in revenue, costs and LLPS NII + Fees Costs COR North America Europe + Digital Consumer Bank North America Europe + Digital Consumer Bank North America Europe + Digital Consumer Bank +5% +5% 1.1% +9% +1% 0.4% +9% South America* YoY % changes in constant euros * Excluding Argentina, +1% ⚫NII increase driven by greater volumes and higher rates across the board •Improved quarterly NII trend, which we expect to continue ⚫ Fee growth supported by CIB, payments and WM&I +17% South America* YoY % changes in constant euros * Excluding Argentina, +9% • Focus on efficiency with the aim of maintaining cost growth below inflation • Efficiency ratio of 45.5% improving on FY'21 (46.2%) ⚫ Challenging 2022 cost-to-income target due to time lag between inflation and rates 3.1% South America COR fundamentals remain good with stable Group delinquency rates ⚫Our high-quality loan portfolio and collateral valuation with a solid labour market... ⚫... keeps us on track to meet our <1% COR year-end target Santander 49#50Delivering shareholder value: enhanced profitability, TNAVps and dividend per share... EPS Interim distribution¹ in Nov-22 € cents 40.9 31.3 Cash dividend per share: €5.83 cents (+20%²) Total value c.€2.0bn 40% of H1'22 underlying profit 9M'21 9M'22 ROTE € 13.6% 11.8% 9M'21 9M'22 Share buyback programme: €979mn TNAV per share 4.31 3.99 Sep-21 Sep-22 TNAV + Dividend per share: +3% QoQ +11% YoY Santander (1) The board of directors has approved the payment of the first interim cash dividend against H1'22 results from 2 November and the repurchase programme is expected to commence 50 once the applicable regulatory approval has been obtained. (2) % change versus 2021 first interim dividend.#51% . . . while continuing to generate capital organically Q3 fully-loaded CET1 ratio performance 12.05 +0.34 -0.08 12.10 -0.06 -0.15 Jun-22 Gross organic generation Cash dividend accrual 1 Regulatory & models Markets & others Sep-22 CET1 €73.0bn RWAS €605bn €74.6bn €617bn · Continued profit growth - ROTE 13.6% (12.0% in FY'21) Disciplined capital allocation strategy with: - RWAs rising below loan growth +1% < +7% (excluding FX impact) - 9M'22 front book RoRWA of 2.5% - % of RWAs with RoE < CoE of 21% (30% in FY'21) As of Sep-22, the distance to the MDA is 307bps Santander (1) Cash dividend accrual corresponding to 20% of Q3'22 profit. The implementation of the shareholder remuneration policy is subject to future corporate and regulatory decisions and approvals. 51#52Santander 4. • Final remarks#53Final remarks Revenue Costs ▸ We expect to achieve our full-year target as total revenue is set to continue growing strongly: - Additional NII growth, benefitting from interest rate hikes and expected activity levels, accelerating in 2023 - Net fee income supported by commercial activity and growth in our global businesses (SCIB, payments and WM&I) ▸ We will continue to manage costs below inflation which should allow us to continue improving productivity and efficiency ▸ We expect to improve on FY'21 efficiency and end 2022 close to our full-year target Credit ▸ In an uncertain environment, credit quality remains robust and no significant deterioration is expected, as we have a highly-collateralized loan portfolio, solid labour market and high household savings rates across our footprint quality ▸ 9-month annualized COR (0.95%). On track to meet our 2022 CoR target ▸ We continue to achieve our objective to have a FL CET1 above 12% in each quarter of this year Capital ▸ At the same time, we continue to deliver on our commitments of disciplined capital allocation We expect revenue growth to offset cost inflation pressures and a potential CoR increase. We are confident we will improve our profitability and continue to create value for our shareholders Santander 53#54PLECIM Santander INVESTOR DAY 28 February 2023 LONDON 村 SAN FRER VEP#55Santander Help millions around the world realise their dreams and prosper. 5. ● Links to public materials#56Links to Grupo Santander public materials For additional information on the Group, please click on the images, icons or flags below 9M'22 financial results Financial report Earnings presentation Here Now Financial Report 2022 January-June Santander 262022 Earnings Presentation 9M'22 Santander Country presentations Press room USA UK. Poland Portugal Mexico Spain Brazil Chile Argentina Santander GD ווווי Digital Consumer Bank CEO video (4 minutes) Series (excel) XLS Shareholders report (interactive) QUARTERLY SHAREHOLDER REPORT Other information 2021 Digital Annual review Santander Santander Shareholders 01/ 02 SHARE ACTIVITY 05/ 06 EUR 2688 Fixed income presentation FIXED INCOME INVESTORS PRESENTATION Sarean - 201- 04SHOLDER Here. Now. Atalles 2021 Annual report Here. Pilar 3 Sabander Ratings Annual report 2021 for you. Santander Overview of our Corporate Governance presentation www.santander.com Follow us on ₤ in 56#57Important information Non-IFRS and alternative performance measures This presentation contains, in addition to the financial information prepared in accordance with International Financial Reporting Standards ("IFRS") and derived from our financial statements, 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 (ESMA/2015/1415en) and other non-IFRS measures ("Non-IFRS Measures"). These financial measures that qualify as APMs and non- IFRS measures have been calculated with information from the Banco Santander Group; however those financial measures are not defined or detailed in the applicable financial reporting framework nor have been audited or reviewed by our auditors. We use these APMs and non-IFRS measures when planning, monitoring and evaluating our performance. We consider these APMs and non-IFRS measures to be useful metrics for our management and investors to compare operating performance between accounting periods, as these measures exclude items outside the ordinary course performance of our business, which are grouped in the "management adjustment" line and are further detailed in Section 3.2 of the Economic and Financial Review in our Directors' Report included in our Annual Report on Form 20-F for the year ended 31 December 2021. Nonetheless, these APMs and non-IFRS measures should be considered supplemental information to, and are not meant 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") Q3 2022 Financial Report, published as Inside Information on 26 October 2022. These documents are available on Santander's website (www.santander.com). Underlying measures, which are included in this presentation, are non-IFRS measures. This presentation also contains statements on emissions and other climate-related performance data, statistics, metrics and/or targets (the "ESG Data"). The ESG Data are not financial data and are non-IFRS data. Such ESG Data are non-audited estimates, continue to evolve and may be based on assumptions believed to be reasonable at the time of preparation, but should not be considered guarantees. The ESG Data is for informational purposes only, is not intended to be comprehensive and does not constitute investment, legal or tax advice. The businesses included in each of our geographic segments and the accounting principles under which their results are presented here may differ from the included businesses 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 Santander advises that this presentation contains "forward-looking statements" as per the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words like "expect", "project", "anticipate", "should", "intend", "probability", "risk", "VaR", "RORAC", "RoRWA", "TNAV", "target", "goal", "objective", "estimate", "future", "commitment", "commit", "focus", "pledge" and similar expressions. Found throughout this presentation, they include (but are not limited to) statements on our future business development, performance, shareholder remuneration policy and ESG Data. However, a number of risks, uncertainties and other important factors may cause actual developments and results to differ materially from those anticipated, expected, projected or assumed in forward-looking statements. The following important factors, in addition to other factors discussed 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 cause materially different outcomes from those anticipated, expected, projected or assumed in forward-looking statements: (1) general economic or industry conditions of areas where we have significant operations or investments (such as a worse economic environment; higher volatility in the capital markets; inflation or deflation; changes in demographics, consumer spending, investment or saving habits; energy prices; and the effects of the war in Ukraine or the COVID-19 pandemic in the global economy); (2) climate-related conditions, regulations, targets and weather events; (3) exposure to various market risks (particularly interest rate risk, foreign exchange rate risk, equity price risk and risks associated with the replacement of benchmark indices); (4) potential losses from early repayments on our loan and investment portfolio, declines in value of collateral securing our loan portfolio, and counterparty risk; (5) political stability in Spain, the United Kingdom, other European countries, Latin America and the United States; (6) changes in legislation, regulations, taxes, including regulatory capital and liquidity requirements, especially in view of the United Kingdom exit from the European Union and increased regulation in response to financial crises; (7) our ability to integrate successfully our acquisitions and related challenges that result from the inherent diversion of management's focus and resources from other strategic opportunities and operational matters; and (8) changes in our access to liquidity and funding on acceptable terms, in particular if resulting from credit spreads shifts or downgrade in credit ratings for the entire Santander, the Banco Santander Group or significant subsidiaries. Santander 57#58Important 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. No offer The information contained in this presentation is subject to, and must be read in conjunction with, all other publicly available information, including, where relevant any fuller disclosure document published by Santander. Any person at any time acquiring securities must do so only on the basis of such person's own judgment as to the merits or the suitability of the securities for its purpose and only on such information as is contained in such public information having taken all such professional or other advice as it considers necessary or appropriate in the circumstances and not in reliance on the information contained in this presentation. No investment activity should be undertaken on the basis of the information contained in this presentation. In making this presentation available Santander gives no advice and makes no recommendation to buy, sell or otherwise deal in shares in Santander or in any other securities or investments whatsoever. Neither this presentation nor any of the information contained therein constitutes an offer to sell or the solicitation of an offer to buy any securities. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. Nothing contained in this presentation is intended to constitute an invitation or inducement to engage in investment activity for the purposes of the prohibition on financial promotion in the U.K. Financial Services and Markets Act 2000. Historical performance is not indicative of future results Statements about historical performance must not be construed to indicate that future performance, share price or results (including earnings per share) in any future period will necessarily match or exceed those of any prior period. Nothing in this presentation should be taken as a profit 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 58#59Thank 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