Financial and Liquidity Management Strategy

Results Continued preemptive reinforcement of LLPs, despite the lower NPL ratio Net LLPS (EUR mn) 20 20 81 Q3'20 Q3'19 YoY (%) QoQ (%) Net Operating Income LLPs 525 560 -6.2 +1.2 -147 16 -43.7 Net Operaring Income after LLPs 379 576 -34.2 +47.4 46 9 0 3Q19 4Q19 1Q20 2Q20 3Q20 Santander NPE ratio 2.8% 3.2% -0.5pp -0.0pp NPE coverage ratio Cost of Credit (1) 64.5% 52.0% +12.5pp +3.4pp 0.38% -0.04% (1) Cost of credit based on 12 month loan-loss provisions divided by average customer loans. 17

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