Investor Presentaiton

NII rose 93% YoY due to higher volumes and spreads Net interest income (Constant € mn)1 331 283 237 212 Yields and Costs (%) Yield on loans 449 28.80% 21.97% 23.33% 24.39% 21.63% 17.65% 11.92% 12.13% 12.05% 13.62% Cost of deposits Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 NII / Average total assets 9.48% 9.61% Official interest rate² 34.11% Differential 12.40% 9.44% 12.96% 10.0pp 9.5pp 11.3pp 10.8pp 11.1pp 34.15% 34.17% 38.37% 45.71% Santander (1) Average exchange rate as at 6M'22. (2) Quarterly average. 14

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