Investor Presentaiton

Net fee income increased 88% YoY underpinned by transactional and mutual fund fees Net fee income (Constant € mn) 1 H122 H1'21 YoY (%) QoQ (%) Transactional fees 163 93 75.7 13.3 Payment methods 57 34 69.4 21.1 150 Transfers, drafts, cheques 39 22 77.4 14.7 136 and other orders Foreign exchange 114 4 2 93.1 -23.8 currencies 79 98 Other transactional 63 35 79.6 8.7 Investment and pension 29 29 13 124.3 53.8 funds Insurance 18 12 56.2 13.3 Securitites and custody 5 4 23.1 21.4 services Other 48 18 160.2 123.5 Total net fee income 264 140 88.3 31.9 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Santander (1) Average exchange rate as at 6M'22. 15

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