Investor Presentaiton

Strong business in Q1'21 Solid P&L Strengthened balance sheet and improved profitability EUR 2.1 bn underlying attributable profit FY2021 restructuring charges recorded Revenue +8% Loans: +EUR 17 bn Deposits: +EUR 65 bn Cost of credit 1.08% Improved efficiency 45% (-227 bps) CET1 above the target range of 11-12% CET1 12.30% EUR 1.6 bn attributable profit Net operating income +15% Underlying ROTE higher than cost of capital ROTE 13.0% Santander Note: YoY changes in constant euros. Loans and advances to customers excluding reverse repos. Customer deposits excluding repos 55

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