Santander Financial Performance

Net operating income performance boosted by revenue, despite the rise in costs Net operating income (Constant € mn)1 537 519 475 596 571 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Santander (1) Average exchange rate as at 6M'22. H1'22 H1'21 YoY (%) QoQ (%) Total income 2,096 1,900 10.3 5.6 Operating Expenses (930) (826) 12.6 7.1 Net operating income 1,166 1,074 8.6 4.4 Efficiency ratio 44.4% 43.5% 0.9pp 18 (•)

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