Santander Financial Overview 2023

LLPs remained at very low levels, reflecting the strength of our balance sheet. The NPL and coverage ratios continued to improve. CoR remained very low Net LLPs (€ mn) Q1'23 Q1'22 YoY (%) QoQ (%) Net operating income 273 207 31.7 15.4 Loan-loss provisions (14) (8) 72.8 75.3 Net operating income after 259 199 30.1 13.3 provisions Cost of risk NPL ratio 0.06% 3.05% 3.42% 0.03% 3bps 1bp -37bps 6bps 14 8 Coverage ratio 80% 73% 7.4pp 0.9pp 80 3 -2 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Santander (1) Cost of risk based on allowances for loan-loss provisions over the last 12 months / average loans and advances to customers over the last 12 months. 18

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