Retail Banking Performance Update

South America (Constant EUR mn) Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Change Q4'22 Q4'22/Q3'22 Change 2021 2022 2022/2021 Net interest income 2,859 2,990 3,113 3,331 3,105 3,176 3,259 3,439 +5.5% 12,293 12,979 +5.6% Net fee income 948 1,018 1,012 1,073 1,031 1,094 1,128 1,263 +12.0% 4,051 4,515 +11.5% Gains (losses) on financial transactions and other 153 103 136 9 175 215 126 15 -88.1% 400 531 +32.5% Total revenue 3,959 Operating expenses Net operating income 2,660 2,746 2,815 2,870 4,111 4,261 4,413 4,311 4,485 4,512 (1,299) (1,365) (1,447) (1,543) (1,485) 2,826 4,717 (1,557) (1,711) (1,922) +4.5% 16,745 18,025 +7.6% +12.3% (5,655) (6,675) +18.0% Net loan-loss provisions (794) (913) (985) (982) (1,052) Other gains (losses) and provisions (139) (48) (126) (165) (147) 2,928 2,801 2,795 (1,297) (1,269) (1,423) (105) (93) (199) -0.2% +12.1% 11,090 11,350 (3,674) (5,041) +2.3% +37.2% +112.8% (478) (544) +14.0% Underlying profit before tax 1,727 1,785 1,704 1,723 1,627 1,526 1,438 1,173 -18.4% 6,939 5,764 -16.9% Underlying consolidated profit 1,014 1,101 1,028 1,089 1,088 1,160 1,052 915 -13.0% 4,231 4,215 -0.4% Underlying attributable profit 872 951 880 932 930 995 909 823 -9.4% 3,636 3,658 +0.6% Santander 47

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