Q1'21 Earnings Presentation

Results Total income reduction YoY as pressure on NII was not fully offset by the increase in fee income and gains on financial transactions Total income (Constant EUR mn)1 (•) 942 899 897 890 865 Q1'21 Q1'20 YoY (%) QoQ (%) Net interest income 667 713 -6.4 -5.6 Net fee income 204 188 8.2 8.7 Customer revenue 871 902 -3.4 -2.6 Other² (6) (2) 71.7 Total income 865 899 -3.9 -2.9 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Santander (1) Average exchange rate as at Q1'21. (2) Other includes Gains (losses) on financial transactions and Other operating income. 16

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