H1'22 Financial Results and PagoNxt Highlights

H1'22 Summary We continue to make structural changes to our operating model, driving sustainable efficiencies and mitigating the effects of overall higher inflation Costs by region Efficiency ratio H1'22 vs. H1'21 In real terms¹ H1'22 YoY change Group +5% >>> -4.1% Group 45.5% -0.2pp Europe -1% >>> -6.8% Europe 48.5% -3.9pp North North America +5% >>> -2.5% America 46.6% +3.4pp South America² +16% -1.1% South America 35.3% +0.8pp Digital DCB +2% >>> -2.9% Consumer Bank DCB Digital Consumer Bank 48.5% -0.3pp · Focus on efficiency with the aim of maintaining costs below inflation Improved efficiency ratio in Europe (-3.9pp to 48.5%) benefitting from our transformation process. In real terms, decreases in all countries North America: in real terms, strong decrease in the US while Mexico up due to salary agreements and investments in digitalization South America affected by salary agreements. Slight fall in real terms, with outstanding efficiency in the region. Of note, Brazil (c.30%) Santander Note: changes in constant euros. (1) Excluding the impact from average inflation. (2) South America excluding Argentina: +10.5%, +0.5% in real terms. 9

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