Q1'22 Financial Update

NII boosted by higher volumes in a resilient mortgage market and latest interest rates hikes Net interest income (GBP mn) Yields and Costs (%) + Yield on loans 989 997 976 938 2.27% 2.25% 2.27% 2.23% 2.23% 864 Cost of deposits 0.21% 0.14% 0.11% 0.10% 0.12% Q1'21 Q2'21 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q3'21 Q4'21 Q1'22 NIM¹ 1.17% 1.29% 1.37% 1.34% 1.38% Differential 207 bps 211 bps 216 bps 213 bps 211 bps Central Bank interest rate (EOP) 0.10% 0.10% 0.10% 0.25% 0.75% Santander (1) Group criteria. NIM is calculated as Net Interest Income / Total Average Assets. 14

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