Retail Banking Performance Update

Europe (Constant EUR mn) Q1'21 Q2'21 Q3'21 Net interest income 2,572 2,665 2,653 Q4'21 2,709 Q1'22 Q2'22 Q3'22 Change Q4'22 Q4'22/Q3'22 2021 Change 2022 2022/2021 2,813 2,971 3,187 3,594 +12.8% 10,599 12,565 +18.5% Net fee income 1,075 1,087 1,080 1,107 1,152 1,161 1,126 1,053 -6.5% 4,349 4,493 +3.3% Gains (losses) on financial transactions and other 435 106 385 93 313 134 386 138 -64.2% 1,019 972 -4.6% Total revenue 4,083 Operating expenses (2,090) 3,858 4,118 3,908 4,279 (2,080) (2,052) (2,125) (2,049) 4,265 4,699 4,786 (2,100) (2,135) (2,240) +1.8% 15,967 18,030 +12.9% +4.9% (8,347) (8,523) +2.1% Net operating income 1,993 1,778 2,065 1,784 2,231 2,166 2,565 2,546 -0.7% Net loan-loss provisions (594) (603) (674) (414) (513) (630) (615) (639) +3.9% 7,620 9,507 (2,286) (2,396) +24.8% +4.8% Other gains (losses) and provisions (248) (343) (256) (436) (234) (341) (562) (491) -12.7% (1,283) (1,629) +27.0% Underlying profit before tax 1,151 832 1,135 934 1,484 1,195 1,387 1,416 +2.1% 4,051 5,482 +35.3% Underlying consolidated profit 781 566 843 643 1,065 865 1,014 1,045 +3.1% 2,834 3,989 +40.8% Underlying attributable profit 779 548 812 626 1,011 819 1,000 981 -2.0% 2,765 3,810 +37.8% Santander 25

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