Q1 2023 Financial Report

Double-digit profit increase following our strategy based on increasing volumes and revenue, while keeping costs controlled Attributable Profit (Constant € mn)¹ 110 94 23 134 Q1'23 Q1'22 YoY (%) QoQ (%) 167 PBT 336 231 45.3 21.3 Tax on profit (88) (67) 31.1 14.9 Consolidated profit 247 164 51.1 23.7 Minority interests (81) (54) 50.5 23.0 Attributable profit 167 110 51.4 24.1 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Santander (1) Average exchange rate as at 3M'23. Effective tax rate 26.3% 29.2% -2.9pp 19

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