Financial Performance Update Q3'22

Costs decreased 2% in real terms. In nominal terms, 9% growth impacted by inflation, salary agreement and higher operating expenses related to business growth Operating expenses (Constant € mn)¹ 1,021 1,027 999 980 984 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 (1) Average exchange rate as at 9M'22. Santander 9M'22 9M'21 YoY (%) QoQ (%) Operating Expenses 3,009 2,769 8.7 4.4 Branches (#) 2,903 2,941 -1.3 -1.1 Employees (#) 53,699 47,877 12.2 -0.1 17

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