2022 Highlights and ESG Progress

USA Strong volume growth: loans up mainly due to Auto, CRE and CIB, while time deposits grew on the back of higher rates High profit (€1.8bn) from strong NII and good cost control, offsetting LLP normalization and lower lease income • • Mexico Successful customer attraction strategy (+0.6mn total customers YoY) reflected in growth in loans and fees Outstanding results driven by greater customer revenue and strong credit quality performance (NPL ratio: -41bps) Loans €115bn +9% Deposits €98bn +19% Mutual Funds €15bn -3% Loans €41bn +8% Deposits €37bn +1% Mutual Funds €14bn +3% Efficiency COR ROTE¹ 47.2% +3.3pp 1.35% +93bps 16.8% -7.2pp Efficiency 44.9% -1.3pp COR ROTE¹ 1.95% -48bps 35.4% +7.0pp P&L* Q4'22 % Q3'22 2022 % 2021 % 2021² P&L* Q4'22 % Q3'22 2022 % 2021 % 2021² NII 1,594 -3.4 6,140 3.0 15.9 NII 1,009 4.9 3,565 13.3 28.6 Net fee income 183 -3.6 771 -12.3 -1.4 Net fee income 309 0.6 1,140 21.3 37.7 Total revenue 1,957 -0.8 7,623 -6.8 4.8 Total revenue 1,311 6.6 4,623 14.7 30.1 Operating expenses -964 2.6 -3,599 0.1 12.6 Operating expenses -609 12.3 -2,076 11.4 26.4 Net operating income 993 -3.8 4,025 -12.3 -1.4 LLPS -637 24.9 -1,744 270.3 316.4 Net operating income LLPs 702 2.1 2,547 17.5 33.3 -233 23.4 -788 -12.2 -0.3 Underlying att. profit 294 -24.8 1,784 -29.6 -20.8 Underlying att. profit 339 2.0 1,213 31.0 48.6 (*) € mn and % change in constant euros. (*) € mn and % change in constant euros. Santander Note: 2022 data and YoY changes (loans, deposits and mutual funds in constant euros). (1) Adjusted RoTES: adjusted based on Group's deployed capital calculated as contribution of RWAs at 12%. Using tangible equity, ROTE is 9.4% for the US and 16.9% for Mexico. (2) % change in current euros. 40

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