2022 Highlights and ESG Progress

We achieved our <1% CoR target... Constant € million LLPs and CoR 0.99% 0.77% COR LLPs LLPs 8,011 2021 Santander +31% 10,509 2022 LLPs and CoR drivers • Q4 LLPs of €3.0bn (+11% QoQ) ⚫ 2022 includes additional LLPs due to updated macro assumptions (mainly US, Spain and UK) Normalization in some countries vs. releases in 2021 Cost of risk Improvement in Spain and Mexico ⚫ The UK (0.12%) and the US (1.35%) up from very low levels in 2021. CHF mortgages in Poland As expected, core trends continued to improve in Brazil in Q4, excluding a one-off 21

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