Retail Banking Performance Update

Santander's capital levels, both phased-in and fully loaded, exceed minimum regulatory requirements Dec-22 SREP capital requirements and MDA* Assumed capital requirements (fully-loaded) ** Dec-22 15.99% 15.81% T2 13.26% +272bps 2.36% >15% AT1 T2 2.40% +276bps 1.45% 13.26% +254bps) 2.32% 2.00% T2 2.40% +262bps 1.45% T2 1.50% AT1 AT1 1.80% +311bps AT1 G-SIB buffer 1.00% G-SIB buffer CCYB, 1 1.80% 1.00% +296bps CCOB 2.50% 0.18% CET1 12.18% CCOB 2.50% CCYB, 0.18% 12.04% 11-12% Pillar 2 R CET1 0.89% Pillar 2 R 0.89% 4.50% Pillar 1 Pillar 1 4.50% Regulatory Requirement 2022 Group ratios Dec-22 Assumed regulatory requirement 2022 Group ratios Dec-22 Medium-term target ratios ▸ The minimum CET1 to be maintained by the Group is 9.07% ▸ As of Dec-22, the distance to the MDA is 272bps² and the CET1 management buffer is 311bps ▸ AT1 and T2 ratios are planned to be close to 1.5% and 2% of RWAs respectively * The phased-in ratio includes the transitory treatment of IFRS 9, calculated in accordance with article 473 bis of the Capital Requirements Regulation (CRR2) and subsequent modifications introduced by Regulation 2020/873 of the European Union. Total phased-in capital ratios include the transitory treatment according to chapter 4, title 1, part 10 of the CRR2. Santander ** Fully-loaded CRR and fully-loaded IFRS 9. (1) Estimated countercyclical buffer as of Dec-22. (2) MDA trigger = 3.11% -0.35% - 0.04% = 2.72% (35bps of AT1 shortfall and 4bps of T2 shortfall are covered with CET1). 10

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