Financial and ESG Performance Review

2022 Financial Statements Deferred Tax Assets Overview of Deferred Tax Assets Of which in (€ millions) Dec-21 Dec-22 CET 1 Total DTAs on Balance Sheet 741 922 627 Timing-Difference DTAS - under Special Regime (1) 267 295 295 Timing-Difference DTAs - other 473 563 332 Tax Losses carried forward 1 64 Deferred Tax Assets as % of Equity² novobanco vs listed banks and average by market Off-Balance Sheet Timing-Difference DTAS Tax Losses carried forward • 1 811 1 651 c.50% as of Jun-17 334 239 1 477 1 412 26% Tax losses carried forward are recognised to the extent they are expected to be recovered with future taxable income; • novobanco conservatively assesses the recoverability of tax losses carried forward considering its projected taxable income over a 5 year period, assuming average of base case and stressed cases of the business plan; 57% 42% 83% • DTAs under Special Regime: YoY change reflects tax audit correction related to 2018 and 2019. novobanco Domestic Peer Spanish Greek Top domestic Banks Banks (avg) (avg) novobanco (1) Special Regime applicable to Deferred Tax Assets approved by Law No. 61/2014, of August 26; (2) Novobanco analysis; average data considers 2022 available information; Spanish banks includes Caixabank, Bankinter, Unicaja and Sabadell; Greek banks includes NBG, Eurobank, Alpha Bank and Piraeus Bank 50

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