Retail Banking Performance Update

South America (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Net interest income 2,570 2,756 2,916 Q4'21 Q1'22 3,065 3,037 Q2'22 Q3'22 Q4'22 Q4'22/Q3'22 2021 2022 2022/2021 3,390 3,411 3,141 -7.9% 11,307 12,979 +14.8% Net fee income 842 928 956 995 1,013 1,162 1,174 1,165 -0.8% 3,721 4,515 +21.4% Gains (losses) on financial transactions and other 122 85 115 (13) 145 185 95 106 +11.5% 309 531 +71.7% Total revenue 3,535 Operating expenses Net operating income 2,316 2,469 (1,219) (1,299) (1,398) 2,589 3,768 3,987 4,048 4,195 (1,464) (1,484) Net loan-loss provisions (683) (809) Other gains (losses) and provisions (132) (55) (124) 2,583 2,711 3,069 2,898 (892) (867) (999) (1,335) (1,300) (162) 4,738 4,680 4,412 (1,669) (1,782) (1,740) 2,672 -5.7% 15,337 18,025 +17.5% -2.4% (5,380) (6,675) +24.1% -7.8% 9,958 11,350 +14.0% (1,408) +8.3% (3,251) (5,041) +55.1% (151) (130) (107) (156) +45.1% (474) (544) +14.8% Underlying profit before tax 1,500 1,605 1,573 1,554 1,561 1,604 1,491 1,108 -25.6% 6,232 5,764 -7.5% Underlying consolidated profit 903 1,011 961 998 1,052 1,215 1,082 865 -20.0% 3,873 4,215 +8.8% Underlying attributable profit 770 868 823 855 900 1,046 938 774 -17.5% 3,317 3,658 +10.3% Santander 46

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