1H22 Financial Performance

...being on track to deliver medium-term guidance with targets to be updated, by year end, to reflect current market environment 1H21 1H22 Medium-term targets Underlying Profitability (€mn; pre-tax) ROTE (cumulative annualised; 12% RWA) Commercial Loan Book €22.8bn (performing) €23.8bn (+4.7% YoY) 2-3% per year Expanding loan book ROTE 11.0% Net Interest Margin 1.46% 1.30% [1.30 1.50%] Set to benefit from Euribor repricing 10.2% 8.7% 8.8% 8.2% Cost-to-income 48% 49% (recurrent basis) < 45% Efficient operations 7.6% COR 68bps 15bps < 50 bps Achieving moderate risk profile 77.9 85.1 76.5 75.1 68.6 59.7 NPL ratio 7.3% 5.4% < 5% Converging towards EU average ROTE (pre-tax)1 8.7% 11.0% ≥ 10% Delivering organic attractive returns CET 1 10.9% 11.8% > 12% Accelerating capital generation 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 novobanco (1) Tangible Equity = average phased-in RWA x 12%; Annualized; Considers Underlying profitability pre-tax deducted by special tax on banks (€34mn on annual basis) and contributions to Resolution Funds (€40.9mn on annual basis) 12

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