H1'22 Financial Results and PagoNxt Highlights

Capital FX hedging policy on capital ratio and P&L Hedged Exposure Stable capital ratio hedge (•) Group CET1 12.05%1 ▸ Managed to mitigate FX volatility in our CET1 ratio. Based on Group regulatory capital and RWAs by currency. Santander (1) Fully-loaded ratio. Our P&L Policy ▸ Strategic management of the exposure to exchange rates on equity and dynamic on the countervalue of the units' annual results in euros. ▸ Mitigate impact of FX volatility. ▸ Corporate Centre assumes all hedging costs. 28

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