Financial and Liquidity Management Strategy

Results Net fee income improves in Q3'20 as economic activity began to recover Net fees (EUR mn) 97 94 94 87 22 91 3Q19 4Q19 1Q20 2Q20 3Q20 Santander Q3'20 Q3'19 YoY (%) QoQ (%) Credit 69 77 -10.1 -10.9 Credit cards 66 99 74 -10.3 +29.8 Mutual funds 22 22 19 +11.8 +5.9 Insurance Other 78 78 -0.3 +1.1 39 38 +3.5 +6.1 Total 274 286 -4.2 +5.4 14

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