H1'22 Financial Results and PagoNxt Highlights

Santander Business Model & Strategy Moreover, we are able to generate profit efficiently, with one of the best C/I ratios and net operating income/loans well above most European peers Cost-to-income, Q1'22 Efficiency Net operating income/Loans %, European peers, Q1'22 Peer 1 Peer 2 Peer 3 41% 45% 12 pp 45% better than Peer 1 peer avg. Peer 2 52% Peer 4 54% Peer 5 58% Peer 6 60% Peer 7 Peer 8 Peer 9 65% 66% 67% Peer 3 1.9 Peer 4 Peer 5 Peer 6 1.2 1.8 1.9 2.1 2.6 Santander Note: Peers included are: BBVA, BNP Paribas, Citibank, Credit Agricole, HSBC, ING, Itaú, Scotiabank and Unicredit. Santander calculations using publicly available data. 3.8 22

View entire presentation