2022 Highlights and ESG Progress

Portugal Strengthened customer loyalty (#2 in NPS) and increased activity in mortgages and protection insurance Profit up supported by fees, further efficiency gains and well-controlled CoR. NII growth accelerated in Q4 Poland Strong operating performance, NII doubled supported by higher rates, while costs grew well below inflation Profit soared, absorbing the impacts from CHF portfolio, mortgage payment holidays and IPS contribution Loans €40bn 0% Deposits €42bn -1% Mutual Funds €4bn -17% Loans €31bn +1% Deposits €39bn +6% Mutual Funds €3bn -29% Efficiency COR ROTE¹ Efficiency COR ROTE¹ 38.7% -4.1pp 0.04% -5bps 29.6% +6.0pp 28.0% -13.0pp 1.43% +76bps 18.1% +11.3pp P&L* NII Q4'22 % Q3'22 2022 % 2021 P&L* Q4'22 % Q3'22 2022 % 2021 % 2021< 231 31.7 747 3.4 NII 552 3.7 1,976 98.7 93.7 Net fee income 118 -2.6 484 9.8 Net fee income 125 -7.7 528 4.6 2.0 Total revenue 362 13.4 1,295 -1.3 Total revenue 695 0.5 2,474 57.0 53.0 Operating expenses -126 0.2 -502 -10.9 Operating expenses -182 6.3 -692 7.2 4.5 Net operating income 237 21.9 793 5.8 Net operating income 512 -1.5 1,782 91.6 86.7 LLPs -8 - -17 -55.0 LLPs and other provisions -235 -47.5 -993 68.8 64.5 Underlying att. profit 174 28.5 534 15.7 Underlying att. profit 134 475.7 364 165.9 159.2 (*) € mn and % change. (*) € mn and % change in constant euros. Santander Note: 2022 data and YoY changes (loans, deposits and mutual funds 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 15.0% for Portugal and 11.9% for Poland. (2) % change in current euros. 38

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