Our Digital Consumer Bank Pitch

The strength of our model drives resilient results ... Recurring pre-provision profit with the lowest earnings per share volatility Pre-provision profit, EUR bn EPS volatility calculated using quarterly data from Jan-99 to Q3'201 24 24 24 23 23 24 25 26 26 23 20 18 20 24 24 672% 332% 118% 104% 84% 82% 70% 43% 41% 37% 12% + + 0 0 3x 3x 1x 1x 7x 4x 8x 5x 2x 10x วล 5x 2.49% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Pre-provision profit/loans 3.03% 3.28% 3.26% 3.25% 3.06% 2.94% 3.04% 2.90% 2.83% 2.97% 2.89% 2.80% Cost of credit 2.44% 1.69% 1.02% 1.36% 1.40% 1.65% 1.43% 1.25% 1.18% 1.07% 1.00% 1.00% 1.28% risk pro Everyone's business Santander Net profit increase 1999-2019 (1) Source: Bloomberg, with GAAP criteria. Standard deviation of the quarterly EPS starting from the first available data since Jan-99 13

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