Santander Financial Performance

LLPs dropped 23% YoY due to the positive portfolio performance with healthy asset quality. Cost of risk decreased 69bps Net LLPs (Constant € mn)1 (•) 222 226 H122 H121 YoY (%) QoQ (%) Net operating income 1,166 1,074 8.6 4.4 190 Loan-loss provisions (367) (474) -22.6 -7.0 177 156 Net operating income after provisions 799 600 33.2 10.0 NPL ratio 2.95% 3.10% -15bps -14bps Cost of risk² 2.05% 2.74% -69bps -17bps Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Coverage ratio 84% 91% -6.5pp 4.6pp Santander (1) Average exchange rate as at 6M'22. (2) Cost of credit based on 12-month loan-loss provisions divided by average customer loans. 19

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