Q1'21 Earnings Presentation

Financial system System deposit growth still at low double-digits while loan growth reflects a contraction Total loans (Constant EUR bn¹) 241 235 229 221 211 9.9% Decline in system loan volumes in most segments, except mortgages and government 5.9% YOY 2.9% (%) -1.9% -1.7% Consumer loans continued to contract, especially credit cards and personal loans Mar-20 Jun-20 Sep-20 Dec-20 Feb-21 Total deposits (Constant EUR bn¹) 239 244 243 245 232 YOY 12.3% 12.6% 12.9% 10.8% 10.9% (%) Mar-20 Santander Jun-20 Sep-20 Dec-20 (1) End period exchange rate as of Feb-21. Source: CNBV Banks as of Feb-21. Feb-21 System deposit growth remained solid Low rate environment drove strong growth in demand deposits (+19.7% YoY), likely reflecting heightened need for liquidity among households and companies 5

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