Investor Presentaiton

Continued profit momentum, maintaining main P&L trends: top line growth, greater sustainable efficiencies and LLP normalization % change Contribution to Group's underlying profit² Underlying attributable profit (€ mn) € million NII H1'22 H121 Euros Constant euros 652 736 18,409 16,196 14 7 31% Europe 1,839 3 225 207 Net fee income 5,852 5,169 13 7 Trading and other income 859 1,330 -35 -40 North Total revenue 25,120 22,695 11 <t 4 26% America 1,578 1,090 546 Operating expenses -11,435 -10,377 10 5 Net operating income 13,685 12,318 11 3 LLPS -4,735 -3,753 33% South 1,365 391 26 18 1,946 America 145 Other results -1,035 -937 10 Underlying PBT 7,915 7,628 4 -5 25 9 Digital Underlying att. profit 4,894 4,205 16 7 10% Consumer 572 Bank Net capital gains and provisions 0 -530 -100 -100 Attributable profit 4,894 3,675 33 21 Corporate Centre -1,040 Santander (1) Q1'21: restructuring costs (net of tax), corresponding mainly to the UK and Portugal. (2) Contribution as a % of operating areas, excluding the Corporate Centre. 47

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