Q1 2023 Financial Report

Net fee income grew strongly as payment method fees delivered double-digit growth Net fee income (Constant € mn)1 Q1'23 Q1'22 YoY (%) QoQ (%) Transactional fees 99 97 2.4 6.1 145 135 136 128 126 Payment methods 24 19 31.6 33.5 Transfers, drafts, cheques 13 13 -2.3 -3.1 and other orders Foreign exchange 39 39 -0.7 -4.0 currencies Other transactional 23 26 -11.3 7.3 Investment and pension 10 12 -17.5 -6.7 funds Insurance 9 8 12.3 33.0 Securities and custody 8 8 -0.8 20.7 services Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Other 19 10 81.7 132.8 Total net fee income 145 135 7.1 15.4 Santander (1) Average exchange rate as at 3M'23. 14

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