2022 Earnings Presentation

Underlying attributable profit fell 7% YoY impacted by higher costs and LLPs, partially offset by the increase in revenue and lower tax burden Underlying Attributable Profit (Constant € mn)1 2022 2021 YoY (%) QoQ (%) 715 662 677 PBT 4,055 5,419 -25.2 -28.3 643 Tax on profit (1,232) (2,382) -48.3 -43.0 510 Consolidated profit 2,822 3,036 -7.0 -22.3 Minority interests (278) (310) -10.1 -36.3 Underlying attributable profit 2,544 2,727 -6.7 -20.6 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Santander (1) Average exchange rate as at 12M'22. Effective tax rate 30.4% 44.0% -13.6pp 20 20

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