H1'22 Financial Results and PagoNxt Highlights

Asset Quality Credit quality remains solid... Credit quality ratios Q2'21 Q1'22 Q2'22 Q2'21 Q1'22 Q2'22 NPL ratio 3.22% 3.26% > 3.05% > 21bps QoQ 17bps YoY Cost of risk³ > 0.94% 0.77% > 0.83% 7bps QoQ ▼ 11bps YoY 4.08% 3.93% 3.73% 1.18% 1.07% 1.00% 1.00% 3.32% 3.21% 3.20% 3.22% 3.26% 3.18% 3.16% 3.05% 2016 20171 2018 2019 2020 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22² Q2'22 2016 20171 1.28% 1.08% 0.94% 0.90% 0.83% 0.77% 0.77% 2018 2019 2020 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 (1) Acquisition of Banco Popular in 2017. Santander (2) Including +19bp impact from the New Definition of Default application. (3) Provisions to cover losses due to impairment of loans in the last 12 months / average customer loans and advances of the last 12 months. 31

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