2022 Earnings Presentation

Net fee income rose 3% YoY mainly due to higher transactionality, supported by customer base growth Net fee income (Constant € mn)1 2022 2021 YoY (%) QoQ (%) Transactional fees 1,888 1,755 7.6 31.5 Payment methods 751 698 7.6 10.2 876 Foreign exchange 290 249 16.8 -9.7 826 830 801 currencies 789 Account admin + Packs 578 617 -6.4 -0.6 plans Other transactional 269 191 40.8 350.2 Investment and pension 174 196 -11.1 0.2 funds Insurance 791 804 -1.7 14.4 Securitites and custody 105 147 -28.4 -8.5 services Other 455 305 49.4 46.8 Total net fee income 3,296 3,206 2.8 11.0 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Santander (1) Average exchange rate as at 12M'22. 14

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