Market Shares and Financial Update

Concluding remarks Santander Portugal maintains sustained underlying profitability. Business volumes continue to grow. Financial System Strategy & Business Results Santander Economic activity negatively affected in Q1'21 due to renewed general lockdown, but growth expected to recover from Q2 onwards ▸ Loan volumes and asset quality short term dynamics positively influenced by moratoria and by credit lines with state guarantees, but also supported by resilient new business Deposits continue to grow, aligned with higher household savings Santander Portugal maintains its support to households and companies, with market shares in new lending to corporates and mortgages over 20% in Q1'21, sustaining its strong position as the largest privately-owned bank in Portugal Santander Portugal remains focused on its digital transformation process, including continuous deliveries on digital channels and simplification of internal processes and commercial offering ▸ Sound capital and liquidity bases, allowing us to better tackle the uncertain and challenging outlook and to continue supporting our customers. In addition, we maintained the best risk ratings by the rating agencies, aligned with or above the sovereign's Growth in loans and deposits, boosted by the sustained growth in loans to individuals and companies and demand deposits Lower customer revenue still reflecting the adverse effects from the pandemic, especially in terms of NII, partly offset by lower costs ▸ LLPs decline QoQ, with the cost of credit at 32bp, while the NPL ratio continued to decline ▸ Attributable profit decreased 71% YoY, due to a one-off change associated with the transformation plan of the Bank 19

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