Santander Financial Performance

Costs increased YoY affected by digitalization investments and the insourcing of employees Operating expenses (Constant € mn)¹ 500 481 454 449 413 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Santander (1) Average exchange rate as at 6M'22. H1'22 H1'21 YoY (%) QoQ (%) Operating Expenses 930 826 12.6 7.1 Branches (#) 1,373 1,376 -0.2 0.1 Employees (#) 28,236 25,543 10.5 1.6 17 ()

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