Investor Presentaiton

Final remarks Revenue Costs ▸ We expect to achieve our full-year target as total revenue is set to continue growing strongly: - Additional NII growth, benefitting from interest rate hikes and expected activity levels, accelerating in 2023 - Net fee income supported by commercial activity and growth in our global businesses (SCIB, payments and WM&I) ▸ We will continue to manage costs below inflation which should allow us to continue improving productivity and efficiency ▸ We expect to improve on FY'21 efficiency and end 2022 close to our full-year target Credit ▸ In an uncertain environment, credit quality remains robust and no significant deterioration is expected, as we have a highly-collateralized loan portfolio, solid labour market and high household savings rates across our footprint quality ▸ 9-month annualized COR (0.95%). On track to meet our 2022 CoR target ▸ We continue to achieve our objective to have a FL CET1 above 12% in each quarter of this year Capital ▸ At the same time, we continue to deliver on our commitments of disciplined capital allocation We expect revenue growth to offset cost inflation pressures and a potential CoR increase. We are confident we will improve our profitability and continue to create value for our shareholders Santander 53

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