2022 Highlights and ESG Progress

Full-year NII and NIM improved, supported by volumes and interest rate increases Constant € million NII and NIM 2.53% 2.41% Volume growth¹ • Deposits (+9%) increased in all regions NII drivers Loans (+5%) up in all markets All segments grew. Of note loans in CIB (+11%) NIM NII 35,417 +9% Higher • 38,619 interest rates • 2021 2022 Santander (1) In constant euros. In euros +6% in loans; +9% in deposits. . Benefiting the UK, Poland and Mexico Not yet fully reflected in Spain, Portugal and the US Brazil, Chile & DCB affected by negative sensitivity Margin management ⚫ Higher NIM supported by cost of deposit management Accelerated TLTRO repayments: €61bn to date • Continued rebuilding ALCO portfolio 18

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