Banco Santander, S.a. · BME:SAN
Banco Santander — FY2022 Earnings Presentation
76 slides from Banco Santander's earnings presentation, Feb 2, 2023
Slide 1: Form 6-K Banco Santander, S.A.
FORM 6-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of February, 2023 Commission File Number: 001-12518 Banco Santander, S.A. (Exact name of registrant as specified in its c
Slide 2: Table of Contents
BANCO SANTANDER, S.A. ________________________ TABLE OF CONTENTS Item 1. January - December 2022 Earnings Presentation (Supplementary information)
Slide 3: Earnings presentation: Supplementary information 2022
Earnings presentation: Supplementary information — 2022 2 February 2023
Slide 4: Important information: Non-IFRS and alternative performance measures
2 Important information Non-IFRS and alternative performance measures This presentation contains financial information prepared according to International Financial Reporting Standards (IFRS) and taken from our consolidated financial statements, as well as alternative performance measures (APMs) as
Slide 5: Important information: forward-looking statements
3 Important information The following important factors (and others described elsewhere in this presentation and other risk factors, uncertainties or contingencies detailed in our most recent Form 20-F and subsequent 6-Ks filed with, or furnished to, the SEC), as well as other unknown or unpredictab
Slide 6: Appendix
4 Appendix Balance sheet and capital management Yield on loans and cost of deposits NPL and coverage ratios and cost of credit Quarterly income statements Glossary
Slide 7: Well-funded, diversified, prudent and highly liquid balance sheet
5 Well-funded, diversified, prudent and highly liquid balance sheet (large % contribution from customer deposits), reflected in solid liquidity ratios Note: Liquidity balance sheet for management purposes (net of trading derivatives and interbank balances). (1) Provisional data. (2) Spain: Parent ba
Slide 8: Additional opportunities from rebuilding ALCO portfolios
6 Additional opportunities from rebuilding ALCO portfolios from current exposure, especially in euros Bond Portfolio1 %, Dec-22 o/w euro area countries 25% Portfolio size €107bn (HTC&S €55bn) SCF; 7% Spain; 16% UK; 4% Poland; 11% Portugal; 2% USA; 15% Mexico; 15% Brazil; 12% Chile; 11% Other South A
Slide 9: Conservative and decentralized liquidity and funding model
7 Conservative and decentralized liquidity and funding model (1) Data includes public issuances from all units with period-average exchange rates. Excludes securitizations. (2) Includes Banco Santander, S.A. and Santander International Products PLC. Note: preference shares also includes other AT1 in
Slide 10: Issuances against 2022 funding plan
8 Issuances against 2022 funding plan Note: Issuance plan subject to, amongst other considerations, market conditions and regulatory requirements. Other secured issuances (for example ABS, RMBS, etc.) are not considered in the table above. (1) Includes €1.8bn of sub debt issued in Q4’21 as pre-fundi
Slide 11: 2023 funding plan and 2023 YTD issuances
9 2023 funding plan and 2023 YTD issuances Plan Issued Plan Issued Plan Issued Plan Issued Banco Santander, S.A 0.5 - 1.5 - 9-10 5.8 6-7 3.5 15 - 17 9.3 UK - - 3-4 1.2 5-6 1.7 8-10 2.9 SCF - - 2-4 - - - 2-4 - SHUSA - - 1-2 - - - 1-2 - TOTAL 0.5 - 1.5 - 15 - 20 7.0 11-13 5.2 26 - 33 12.2 TOTALHybrids
Slide 12: Capital levels exceed minimum regulatory requirements
10 Santander’s capital levels, both phased-in and fully loaded, exceed minimum regulatory requirements 4.50% 12.18% 0.89% 2.50% 1.00% CCyB, 0.18% 1.80% 1.45% 2.40% 2.36%13.26% 15.99% Regulatory Requirement 2022 Group ratios Dec-22 The minimum CET1 to be maintained by the Group is 9.07% As of Dec
Slide 13: TLAC/MREL for the Resolution Group
11 TLAC/MREL for the Resolution Group headed by Banco Santander, S.A. Note: Figures applying the IFRS 9 transitional arrangements. (1) TLAC RWAs are €293bn and leverage exposure is €829bn. MREL RWAs are €381bn and leverage exposure is €890bn. (2) MREL Requirement based on RWAs from Jan-24: 30.32% +
Slide 14: Appendix
12 Appendix Balance sheet and capital management Yield on loans and cost of deposits NPL and coverage ratios and cost of credit Quarterly income statements Glossary
Slide 15: Yield on loans (%)
13 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Europe 2.06 2.02 1.98 1.99 2.08 2.23 2.44 2.86 Spain 1.84 1.78 1.68 1.69 1.73 1.78 1.98 2.48 United Kingdom 2.27 2.25 2.27 2.23 2.23 2.30 2.43 2.67 Portugal 1.52 1.47 1.44 1.41 1.42 1.45 1.64 2.33 Poland 2.90 2.91 2.93 3.31 4.64 6.21 7.28 7.64 North
Slide 16: Cost of deposits (%)
14 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Europe 0.11 0.08 0.07 0.07 0.08 0.14 0.25 0.53 Spain 0.05 0.05 0.05 0.05 0.05 0.05 0.09 0.22 United Kingdom 0.21 0.14 0.11 0.10 0.12 0.21 0.35 0.79 Portugal 0.02 0.01 0.01 0.01 0.00 0.00 0.06 0.05 Poland 0.06 0.04 0.02 0.04 0.16 0.49 1.00 1.58 North
Slide 17: Appendix
15 Appendix Balance sheet and capital management Yield on loans and cost of deposits NPL and coverage ratios and cost of credit Quarterly income statements Glossary
Slide 18: Stage coverage
16 Exposure ¹ Coverage Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Stage 1 885 904 912 929 967 998 1,030 1,004 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.5% 0.4% Stage 2 70 70 67 71 68 66 70 69 8.1% 8.2% 8.6% 7.7% 8.0% 8.5% 7.7% 7.7% Stage 3 3
Slide 19: NPL ratio (%)
17 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Europe 3.26 3.30 3.15 3.12 3.01 2.63 2.58 2.37 Spain 4.98 5.16 4.86 4.72 4.47 3.83 3.69 3.27 United Kingdom 1.35 1.30 1.27 1.43 1.42 1.17 1.16 1.21 Portugal 3.84 3.71 3.44 3.44 3.42 3.33 3.03 2.99 Poland 4.82 4.58 4.34 3.61 3.50 3.45 3.63 3.
Slide 20: Total coverage ratio (%)
18 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Europe 50.0 48.4 51.1 49.4 49.1 50.2 49.7 51.8 Spain 48.0 45.7 49.6 51.4 50.4 49.4 49.3 51.0 United Kingdom 40.5 37.4 36.6 25.8 26.1 32.9 32.4 33.8 Portugal 69.2 73.0 75.5 71.7 72.8 74.3 76.3 79.3 Poland 70.3 72.4 74.6 73.9 78.5 76.0 74.8 74
Slide 21: Credit impaired loans and loan-loss allowances by operating area
19 Spain, 20.9% UK, 4.4% Portugal, 4.2% Poland, 4.0% Other Europe, 0.1% US, 17.6% Mexico, 4.8% Brazil, 26.2% Chile, 5.7% Argentina, 0.9% Other South America, 0.8% Digital Consumer Bank, 10.2% Spain, 28.4% UK, 9.1% Portugal, 3.7% Poland, 3.8% Other Europe, 0.0% US, 13.5% Mexico, 3.1% Brazil, 22.8% Ch
Slide 22: Cost of risk (%)
20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Europe 0.51 0.49 0.48 0.39 0.37 0.37 0.36 0.39 Spain 0.79 0.91 0.97 0.92 0.88 0.79 0.71 0.61 United Kingdom 0.21 0.09 0.01 (0.09) (0.08) (0.02) 0.02 0.12 Portugal 0.38 0.41 0.35 0.09 0.03 (0.05) (0.12) 0.04 Poland 1.02 0.88 0.82 0.67 0.65 0.
Slide 23: Appendix
21 Appendix Balance sheet and capital management Yield on loans and cost of deposits NPL and coverage ratios and cost of credit Quarterly income statements Glossary
Slide 24: Grupo Santander (EUR mn)
22 GRUPO SANTANDER (EUR mn) (*) Including: in Q1’21, restructuring costs Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 7,956 8,240 8,458 8,716 8,855 9,554 10,051 10,159 +1.1% 33,370 38,619 +15.7% Net fee income 2,548 2,621 2,641
Slide 25: Grupo Santander (Constant EUR mn)
23 GRUPO SANTANDER (Constant EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 8,566 8,770 8,904 9,178 9,052 9,358 9,808 10,400 +6.0% 35,417 38,619 +9.0% Net fee income 2,726 2,770 2,741 2,808 2,864 2,975 2,949 3,002 +1.8% 1
Slide 26: Europe (EUR mn)
24 Europe (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 2,551 2,656 2,650 2,717 2,839 2,981 3,179 3,567 +12.2% 10,574 12,565 +18.8% Net fee income 1,072 1,086 1,080 1,107 1,154 1,162 1,125 1,051 -6.6% 4,344 4,493 +3.4%
Slide 27: Europe (Constant EUR mn)
25 Europe (Constant EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 2,572 2,665 2,653 2,709 2,813 2,971 3,187 3,594 +12.8% 10,599 12,565 +18.5% Net fee income 1,075 1,087 1,080 1,107 1,152 1,161 1,126 1,053 -6.5% 4,349 4,4
Slide 28: Spain (EUR mn)
26 Spain (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 1,074 1,065 998 1,028 998 1,017 1,119 1,405 +25.5% 4,166 4,539 +9.0% Net fee income 684 693 679 732 745 730 697 646 -7.3% 2,789 2,818 +1.0% Gains (losses) on financ
Slide 29: United Kingdom (EUR mn)
27 United Kingdom (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 989 1,088 1,156 1,151 1,192 1,227 1,277 1,297 +1.6% 4,383 4,992 +13.9% Net fee income 120 117 114 82 92 110 93 95 +1.9% 434 390 -10.1% Gains (losses) on fi
Slide 30: United Kingdom (Constant EUR mn)
28 United Kingdom (Constant EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 1,013 1,100 1,160 1,145 1,170 1,220 1,281 1,322 +3.2% 4,419 4,992 +13.0% Net fee income 123 119 114 81 90 109 94 97 +3.4% 437 390 -10.8% Gains (lo
Slide 31: United Kingdom (GBP mn)
29 United Kingdom (GBP mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 864 938 989 976 997 1,040 1,092 1,127 +3.2% 3,768 4,256 +13.0% Net fee income 105 101 97 69 77 93 80 82 +3.4% 373 332 -10.8% Gains (losses) on financial tr
Slide 32: Portugal (EUR mn)
30 Portugal (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 185 184 178 174 170 171 175 231 +31.7% 722 747 +3.4% Net fee income 99 110 115 116 122 123 121 118 -2.6% 441 484 +9.8% Gains (losses) on financial transactions a
Slide 33: Poland (EUR mn)
31 Poland (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 233 242 244 302 407 486 530 552 +4.0% 1,020 1,976 +93.7% Net fee income 127 126 133 132 138 130 135 125 -7.4% 518 528 +2.0% Gains (losses) on financial transaction
Slide 34: Poland (Constant EUR mn)
32 Poland (Constant EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 226 234 237 297 402 483 536 556 +3.7% 994 1,976 +98.7% Net fee income 123 122 129 130 136 129 137 126 -7.7% 505 528 +4.6% Gains (losses) on financial tran
Slide 35: Poland (PLN mn)
33 Poland (PLN mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 1,057 1,098 1,112 1,389 1,881 2,261 2,510 2,602 +3.7% 4,657 9,254 +98.7% Net fee income 576 573 606 610 637 605 641 591 -7.7% 2,365 2,474 +4.6% Gains (losses) on f
Slide 36: Other Europe (EUR mn)
34 Other Europe (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 71 76 75 61 72 80 77 83 +7.0% 282 312 +10.3% Net fee income 41 38 39 44 56 69 79 68 -14.9% 163 273 +67.6% Gains (losses) on financial transactions and other
Slide 37: Other Europe (Constant EUR mn)
35 Other Europe (Constant EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 74 81 79 64 75 80 75 81 +7.8% 298 312 +4.5% Net fee income 46 42 42 47 58 70 78 67 -14.5% 177 273 +54.1% Gains (losses) on financial transactions an
Slide 38: North America (EUR mn)
36 North America (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 1,971 1,977 2,037 2,086 2,131 2,352 2,619 2,603 -0.6% 8,072 9,705 +20.2% Net fee income 451 410 386 397 443 494 513 508 -1.0% 1,644 1,958 +19.1% Gains (loss
Slide 39: North America (Constant EUR mn)
37 North America (Constant EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 2,268 2,264 2,280 2,292 2,291 2,382 2,520 2,512 -0.3% 9,105 9,705 +6.6% Net fee income 519 468 430 436 478 500 493 487 -1.1% 1,853 1,958 +5.7% Gain
Slide 40: United States (EUR mn)
38 United States (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 1,310 1,300 1,332 1,356 1,378 1,499 1,669 1,594 -4.5% 5,298 6,140 +15.9% Net fee income 241 191 174 176 197 198 194 183 -5.3% 782 771 -1.4% Gains (losses) o
Slide 41: United States (Constant EUR mn)
39 United States (Constant EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 1,502 1,491 1,493 1,473 1,471 1,519 1,602 1,548 -3.4% 5,958 6,140 +3.0% Net fee income 276 220 194 190 210 200 184 177 -3.6% 880 771 -12.3% Gains (
Slide 42: United States (USD mn)
40 United States (USD mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 1,578 1,567 1,569 1,548 1,546 1,597 1,684 1,627 -3.4% 6,263 6,453 +3.0% Net fee income 290 231 204 200 221 210 193 186 -3.6% 925 811 -12.3% Gains (losses) o
Slide 43: Mexico (EUR mn)
41 Mexico (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 661 678 705 730 753 853 950 1,009 +6.2% 2,773 3,565 +28.6% Net fee income 204 210 203 211 245 283 303 309 +2.0% 828 1,140 +37.7% Gains (losses) on financial transa
Slide 44: Mexico (Constant EUR mn)
42 Mexico (Constant EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 767 774 787 819 820 863 919 964 +4.9% 3,146 3,565 +13.3% Net fee income 236 240 226 237 267 287 292 294 +0.6% 939 1,140 +21.3% Gains (losses) on financial
Slide 45: Mexico (MXN mn)
43 Mexico (MXN mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 16,201 16,346 16,630 17,312 17,319 18,241 19,417 20,360 +4.9% 66,488 75,338 +13.3% Net fee income 4,995 5,077 4,781 4,998 5,641 6,061 6,170 6,210 +0.6% 19,851 24,0
Slide 46: Other North America (EUR mn)
44 Other North America (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 0 0 0 0 0 (0) (0) 0 — 0 0 -43.5% Net fee income 7 8 9 10 1 13 17 16 -3.9% 34 47 +40.5% Gains (losses) on financial transactions and other (5) (2) 1 (4
Slide 47: Other North America (Constant EUR mn)
45 Other North America (Constant EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 0 0 0 0 0 (0) (0) 0 — 0 0 -43.5% Net fee income 7 8 9 10 1 13 17 16 -3.9% 34 47 +40.5% Gains (losses) on financial transactions and other (5)
Slide 48: South America (EUR mn)
46 South America (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 2,570 2,756 2,916 3,065 3,037 3,390 3,411 3,141 -7.9% 11,307 12,979 +14.8% Net fee income 842 928 956 995 1,013 1,162 1,174 1,165 -0.8% 3,721 4,515 +21.4% G
Slide 49: South America (Constant EUR mn)
47 South America (Constant EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 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
Slide 50: Brazil (EUR mn)
48 Brazil (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 1,778 1,917 2,081 2,091 2,143 2,279 2,251 2,229 -1.0% 7,867 8,901 +13.1% Net fee income 632 698 696 701 743 857 812 884 +9.0% 2,728 3,296 +20.8% Gains (losses) on
Slide 51: Brazil (Constant EUR mn)
49 Brazil (Constant EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 2,164 2,253 2,368 2,462 2,311 2,197 2,188 2,205 +0.8% 9,248 8,901 -3.7% Net fee income 769 821 791 826 801 830 789 876 +11.0% 3,206 3,296 +2.8% Gains (los
Slide 52: Brazil (BRL mn)
50 Brazil (BRL mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 11,731 12,215 12,834 13,348 12,527 11,912 11,859 11,953 +0.8% 50,129 48,250 -3.7% Net fee income 4,169 4,450 4,285 4,476 4,342 4,501 4,275 4,746 +11.0% 17,381 17,8
Slide 53: Chile (EUR mn)
51 Chile (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 497 511 467 508 483 554 402 332 -17.5% 1,982 1,772 -10.6% Net fee income 95 96 104 100 112 110 120 127 +6.1% 394 468 +18.8% Gains (losses) on financial transactions
Slide 54: Chile (Constant EUR mn)
52 Chile (Constant EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 473 482 465 521 477 544 411 340 -17.3% 1,940 1,772 -8.7% Net fee income 90 90 103 103 111 108 121 129 +6.2% 386 468 +21.3% Gains (losses) on financial tran
Slide 55: Chile (CLP mn)
53 Chile (CLP mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 433,496 441,440 425,810 477,726 437,644 498,964 376,457 311,342 -17.3% 1,778,473 1,624,407 -8.7% Net fee income 82,698 82,631 94,239 94,052 101,410 98,614 111,094 1
Slide 56: Argentina (EUR mn)
54 Argentina (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 203 234 267 361 300 432 616 431 -30.0% 1,065 1,778 +67.0% Net fee income 74 87 110 149 121 143 182 97 -46.7% 420 542 +28.9% Gains (losses) on financial transact
Slide 57: Argentina (Constant EUR mn)
55 Argentina (Constant EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 116 147 164 229 196 311 524 748 +42.9% 655 1,778 +171.5% Net fee income 42 55 68 94 79 104 158 202 +27.7% 259 542 +109.6% Gains (losses) on financial t
Slide 58: Argentina (ARS mn)
56 Argentina (ARS mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 21,907 27,724 30,984 43,242 36,978 58,765 99,007 141,515 +42.9% 123,856 336,265 +171.5% Net fee income 7,977 10,342 12,802 17,770 14,875 19,625 29,856 38,139 +2
Slide 59: Other South America (EUR mn)
57 Other South America (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 92 93 102 105 111 125 142 150 +5.4% 393 527 +34.4% Net fee income 41 46 45 46 38 52 62 58 -6.6% 179 210 +17.4% Gains (losses) on financial transaction
Slide 60: Other South America (Constant EUR mn)
58 Other South America (Constant EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 106 109 117 119 121 124 137 146 +6.6% 451 527 +17.1% Net fee income 46 52 51 51 41 52 60 57 -5.3% 201 210 +4.5% Gains (losses) on financial t
Slide 61: Digital Consumer Bank (EUR mn)
59 Digital Consumer Bank (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 996 1,015 1,017 1,014 1,020 1,012 1,000 990 -1.0% 4,041 4,022 -0.5% Net fee income 188 206 222 204 206 219 204 215 +5.3% 821 843 +2.7% Gains (losses
Slide 62: Digital Consumer Bank (Constant EUR mn)
60 Digital Consumer Bank (Constant EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 999 1,014 1,019 1,010 1,015 1,010 1,000 997 -0.2% 4,043 4,022 -0.5% Net fee income 188 206 222 204 206 218 204 215 +5.4% 820 843 +2.8% Gain
Slide 63: Corporate Centre (EUR mn)
61 Corporate Centre (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income (133) (164) (162) (165) (172) (181) (157) (142) -9.4% (624) (652) +4.6% Net fee income (5) (8) (2) (12) (3) 2 (2) (16) — (28) (19) -30.8% Gains (losses)
Slide 64: Retail Banking (EUR mn)
62 Retail Banking (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 7,286 7,573 7,770 7,966 8,094 8,620 9,053 9,113 +0.7% 30,596 34,880 +14.0% Net fee income 1,721 1,768 1,754 1,801 1,816 1,975 1,967 1,891 -3.9% 7,045 7,650
Slide 65: Retail Banking (Constant EUR mn)
63 Retail Banking (Constant EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 7,861 8,070 8,192 8,411 8,280 8,457 8,853 9,289 +4.9% 32,535 34,880 +7.2% Net fee income 1,844 1,863 1,817 1,879 1,843 1,928 1,924 1,954 +1.6% 7,4
Slide 66: Corporate & Investment Banking (EUR mn)
64 Corporate & Investment Banking (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 690 716 729 785 786 928 924 907 -1.9% 2,921 3,544 +21.3% Net fee income 462 427 433 422 521 506 491 471 -4.1% 1,744 1,988 +14.0% Gains (los
Slide 67: Corporate & Investment Banking (Constant EUR mn)
65 Corporate & Investment Banking (Constant EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 721 745 748 799 795 897 884 968 +9.4% 3,013 3,544 +17.6% Net fee income 488 449 445 435 529 496 480 483 +0.7% 1,817 1,988 +9.4% Ga
Slide 68: Wealth Management & Insurance (EUR mn)
66 Wealth Management & Insurance (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 113 115 122 127 145 184 225 271 +20.5% 476 825 +73.2% Net fee income 289 306 315 336 321 334 327 308 -5.7% 1,247 1,291 +3.5% Gains (losses)
Slide 69: Wealth Management & Insurance (Constant EUR mn)
67 Wealth Management & Insurance (Constant EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income 118 120 125 130 147 182 222 275 +23.9% 492 825 +67.7% Net fee income 306 322 327 346 327 330 320 314 -1.7% 1,301 1,291 -0.8% Gains
Slide 70: PagoNxt (EUR mn)
68 PagoNxt (EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income (1) (1) 0 3 2 3 6 11 +67.4% 1 22 — Net fee income 81 127 140 144 157 222 232 270 +16.3% 493 881 +78.6% Gains (losses) on financial transactions and other (14) (4)
Slide 71: PagoNxt (Constant EUR mn)
69 PagoNxt (Constant EUR mn) Change Change Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'22 / Q3'22 2021 2022 2022 / 2021 Net interest income (1) (1) (0) 3 2 3 6 11 +68.2% 1 22 — Net fee income 93 144 154 161 168 219 227 267 +17.5% 552 881 +59.7% Gains (losses) on financial transactions and oth
Slide 72: Appendix
70 Appendix Balance sheet and capital management Yield on loans and cost of deposits NPL and coverage ratios and cost of credit Quarterly income statements Glossary
Slide 73: Glossary - Acronyms
71 Glossary - Acronyms ❑ ALCO: Assets and Liabilities Committee ❑ AT1: Additional Tier 1 ❑ AuM: Assets under Management ❑ BFG: Deposit Guarantee Fund in Poland ❑ bn: Billion ❑ Bps: basis points ❑ CET1: Common equity tier 1 ❑ CIB: Corporate & Investment Bank ❑ CoR: Cost of credit / cost of risk ❑ Cov
Slide 74: Glossary - Definitions
72 Glossary - Definitions Notes: The averages for the RoTE and RoRWA denominators are calculated using 13 months from December to December. For periods less than one year, and if there are results in the net capital gains and provisions line, the profit used to calculate RoE and RoTE is the annualiz
Slide 75: Thank You
Thank You. Our purpose is to help people and businesses prosper. Our culture is based on believing that everything we do should be:
Slide 76: Signature
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Banco Santander, S.A. Date: 2 February 2023 By: /s/ José García Cantera Name: José García Cantera Title: