Financial Performance Update H1'23

Cost of risk stable at low levels, as LLPs remained contained despite the higher interest + rate environment Net LLPs (£ mn) H1'23 H1'22 YoY (%) QoQ (%) Net operating income 1,223 1,082 12.9 -0.5 Loan-loss provisions (91) (105) -27.4 -14.2 Net operating income after provisions 1,132 977 15.9 2.1 93 71 63 52 38 Cost of risk 0.11% -0.02% 13bps -1bp NPL ratio 1.32% 1.17% 15bps 5bps Coverage ratio 32% 33% -1.0pp -1.2pp Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Santander (1) Cost of risk based on allowances for loan-loss provisions over the last 12 months / average loans and advances to customers over the last 12 months. 18

View entire presentation