2022 Highlights and ESG Progress

Argentina Changes affected by high inflation Strengthened the customer loyalty. #1 in NPS ⚫ Profit up YoY driven by revenue growth well above inflation and efficiency improvement. Strong credit quality Uruguay, Peru and Colombia Consumer credit expansion in Uruguay and joint initiatives between CIB and Corporates in Peru and Colombia Strong customer loyalty reflected in loan growth Profits up due to NII. High profitability: double-digit ROTES Loans €6bn +72% Deposits €11bn +87% Mutual Funds €4bn +136% Uruguay ROTES¹ Peru Colombia Efficiency COR ROTE1 33.1% +2.9pp 20.1% -2.6pp 10.6% -0.9pp 53.9% -4.2pp 2.91% -10bps 47.1% +12.5pp P&L* Q4'22 % Q3'22 NII 431 42.9 2022 1,778 171.5 % 2021 % 20212 67.0 Underlying attributable profit € mn Net fee income 97 27.7 542 109.6 28.9 138 +5% Total revenue 420 47.1 1,833 114.8 32.1 73 +4% 27 +14% Operating expenses -178 27.7 -987 99.4 22.6 Net operating income 242 72.2 846 136.1 45.2 LLPs -26 63.2 -132 53.0 -5.9 Underlying att. profit 91 87.1 324 95.1 20.0 2022 2022 2022 (*) € mn and % change in constant euros. Santander Note: 2022 data and YoY changes (underlying profit, loans, deposits and mutual funds in constant euros). (1) Adjusted RoTES: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 26.2% for Argentina, 21.8% for Uruguay, 22.7% for Peru and 16.0% for Colombia. (2) % change in current euros. 43

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