Banco Santander, S.a. · BME:SAN

Banco Santander — 9M 2024 Earnings Presentation

81 slides from Banco Santander's earnings presentation, Oct 29, 2024

1. Slide 1: Supplementary information 9M'24

   29 October 2024 Supplementary information 9M’24

2. Slide 2: Important information

   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 de

3. Slide 3: Important information

   Important information While these forward-looking statements represent our judgement and future expectations concerning our business developments, results may differ materially from those anticipated, expected, projected or assumed in forward-looking statements. In particular, forward looking statem

4. Slide 4: Supplementary information

   Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary 4

5. Slide 5: Santander's capital levels exceed minimum regulatory requirements

   Santander’s capital levels, both phased-in and fully loaded, exceed minimum regulatory requirements SREP capital requirements and MDA* Assumed capital requirements (fully-loaded)** Sep-24 17.06% Sep-24 16.78% >15% 13.89% +317bps 2.96% T2 13.89% +289bps 2.70% 2.40% T2 +264bps 1.61% AT1 1.61% T2 2.44%

6. Slide 6: Diversified bond portfolio represents just 7% of total assets

   Diversified bond portfolio represents just 7% of total assets Bond portfolio %, Sep-24 €127bn Other South America Liquidity Chile 3% portfolio 7% €27bn Brazil 10% Spain • Bond portfolio represents 7% of 30% total assets Mexico €127bn • HTC&S duration: 1.8 years 11% o/w HTC €82bn (65%) ALCO IRRBB • M

7. Slide 7: Conservative and decentralized liquidity and funding model

   Conservative and decentralized liquidity and funding model €41.3bn1 issued in public markets in 9M’24 Very manageable maturity profile € bn, Sep-24 € bn, Sep-24 17.6 Covered 11.4 11.1 4.7 4.5 Bonds 3.7 17.6 1.3 0.9 0.2 22.9 2.4 14.4 0.4 10.6 Senior 2.1 11.9 6.9 11.9 0.9 7.5 3.0 1.0 2 12.4 0.9 20.9 2

8. Slide 8: 2024 issuances against funding plan

   2024 issuances against funding plan YtD execution of 2024 funding plan € bn, Sep-24 AT1 + Tier 2 SNP + Senior Covered Bonds TOTAL Plan Issued Plan Issued Plan Issued Plan Issued 1 2 Banco Santander, S.A 4-5 6.9 16 - 18 22.2 0-1 0.5 20 - 24 29.6 UK - - 1-2 1.3 5-6 6.0 6-8 7.2 SCF - - 3-5 2.4 - - 3-5

9. Slide 9: TLAC/MREL for the Resolution Group headed by Banco Santander, S.A.

   TLAC/MREL for the Resolution Group headed by Banco Santander, S.A. TLAC Sep-24(e) MREL Sep-24(e) % and %a nd € b bn n 168.6 Requirement Requirement CBR 40.1% CBR 27.5 Senior 28.4% Buffer Buffer 6.3% 30.5 SNP 6.3% 4.1% Sub debt 4.2 13.6 T2 4.1% 9.7 AT1 Req.2 33.8% 16.7% Req. 9.6% 29.7% 22.1% 5.2% 18.

10. Slide 10: Well-funded, diversified, prudent and highly liquid balance sheet

    Well-funded, diversified, prudent and highly liquid balance sheet (large % contribution from customer deposits), reflected in solid liquidity ratios Liquidity Balance Sheet Liquidity Coverage Net Stable Funding Ratio (LCR) Ratio (NSFR) € bn, Sep-24 1,534 1,534 1 Sep-24 Jun-24 Jun-24 Spain 2 154% 155

11. Slide 11: Supplementary information

    Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary 11

12. Slide 12: Yield on loans (%)

    Yield on loans (%) Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Retail & Commercial Banking 5.45 5.88 6.00 6.26 6.49 6.48 6.40 Digital Consumer Bank 7.32 7.75 7.81 7.82 8.38 8.29 8.23 Corporate & Investment Banking 6.48 6.86 7.02 6.44 7.36 6.91 6.86 Wealth Management & Insurance 3.84 4.24 4.48 4.72 4.8

13. Slide 13: Cost of deposits (%)

    Cost of deposits (%) Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Retail & Commercial Banking 1.89 2.15 2.31 2.00 2.40 2.19 2.15 Digital Consumer Bank 0.91 1.23 1.59 1.90 2.15 2.25 2.27 Corporate & Investment Banking 5.88 6.53 6.87 5.34 6.62 5.52 6.22 Wealth Management & Insurance 1.93 2.18 2.41 2.25 2

14. Slide 14: Supplementary information

    Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary 14

15. Slide 15: Efficiency ratio (%)

    Efficiency ratio (%) Q1'23 H1'23 9M'23 2023 Q1'24 H1'24 9M'24 Retail & Commercial Banking 45.0 44.3 43.5 43.1 41.1 39.5 39.3 Digital Consumer Bank 43.0 43.3 42.6 42.8 41.2 40.6 40.7 Corporate & Investment Banking 37.0 38.2 40.8 45.0 42.0 43.4 44.4 Wealth Management & Insurance 38.4 36.7 36.3 37.9 34

16. Slide 16: Supplementary information

    Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary 16

17. Slide 17: Stage coverage

    Stage coverage Exposure ¹ Coverage Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Stage 1 1,005 1,011 1,002 1,000 1,007 1,008 1,008 0.4% 0.4% 0.4% 0.4% 0.4% 0.4% 0.4% Stage 2 72 75 77 80 83 94 87 7.4% 7.2% 7.0% 6.4% 6.3% 5.6% 5.7% Stage 3 34 35 36 3

18. Slide 18: NPL ratio (%)

    NPL ratio (%) Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Retail & Commercial Banking 3.19 3.22 3.18 3.21 3.24 3.15 3.28 Digital Consumer Bank 4.04 4.18 4.65 4.75 4.86 4.81 4.87 Corporate & Investment Banking 1.42 1.38 1.37 1.36 1.14 1.05 0.88 Wealth Management & Insurance 0.83 0.82 0.82 1.40 0

19. Slide 19: NPL coverage ratio (%)

    NPL coverage ratio (%) Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Retail & Commercial Banking 62.7 63.2 63.5 61.4 60.0 60.4 57.7 Digital Consumer Bank 91.2 87.9 79.4 76.5 76.1 75.9 74.7 Corporate & Investment Banking 35.3 36.8 35.4 41.2 46.2 45.0 36.0 Wealth Management & Insurance 62.3 53.2 54

20. Slide 20: Credit impaired loans and loan-loss allowances

    Credit impaired loans and loan-loss allowances. Credit impaired loans Loan-loss allowances Payments, Payments, 7.4% Wealth, 0.5% 3.5% Wealth, 0.5% CIB, 6.2% CIB, 3.5% DCB, 29.1% Retail, 54.6% Retail, 60.7% DCB, 34.0% Other South Other South Argentina, 0.3% America, 0.9% Argentina, 0.8% America, 1.2%

21. Slide 21: Cost of risk (%)

    Cost of risk (%) Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Retail & Commercial Banking 0.92 0.92 0.95 1.02 1.03 1.03 0.98 Digital Consumer Bank 1.81 1.86 2.01 2.04 2.12 2.17 2.12 Corporate & Investment Banking 0.16 0.18 0.15 0.10 0.14 0.15 0.21 Wealth Management & Insurance 0.09 (0.00) (0.05)

22. Slide 22: Supplementary information

    Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary 22

23. Slide 23: GRUPO SANTANDER (EUR mn)

    GRUPO SANTANDER (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 10,185 10,735 11,219 11,122 11,983 11,474 11,225 -2.2% 32,139 34,682 +7.9% Net fee income 3,043 3,060 3,119 2,835 3,240 3,237 3,189

24. Slide 24: GRUPO SANTANDER (Constant EUR mn)

    GRUPO SANTANDER (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 10,217 10,641 11,057 10,949 11,802 11,377 11,503 +1.1% 31,915 34,682 +8.7% Net fee income 3,034 3,004 3,045 2,772 3,181 3,

25. Slide 25: Supplementary information

    Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary 25

26. Slide 26: Retail & Commercial Banking (EUR mn)

    Retail & Commercial Banking (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 5,931 6,470 6,705 6,445 7,145 6,870 6,803 -1.0% 19,105 20,817 +9.0% Net fee income 1,074 1,212 1,196 1,015 1,193 1,173

27. Slide 27: Retail & Commercial Banking (Constant EUR mn)

    Retail & Commercial Banking (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 5,990 6,417 6,605 6,348 7,028 6,816 6,974 +2.3% 19,012 20,817 +9.5% Net fee income 1,072 1,186 1,163 988 1,166

28. Slide 28: Digital Consumer Bank (EUR mn)

    Digital Consumer Bank (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 2,546 2,477 2,600 2,598 2,710 2,655 2,614 -1.5% 7,623 7,978 +4.7% Net fee income 288 295 316 330 354 387 373 -3.7% 899 1,115

29. Slide 29: Digital Consumer Bank (Constant EUR mn)

    Digital Consumer Bank (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 2,525 2,471 2,585 2,572 2,691 2,638 2,650 +0.4% 7,581 7,978 +5.2% Net fee income 288 294 313 326 351 385 379 -1.6% 8

30. Slide 30: Corporate & Investment Banking (EUR mn)

    Corporate & Investment Banking (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 844 826 888 1,037 1,062 969 901 -7.0% 2,557 2,932 +14.7% Net fee income 606 536 517 471 654 626 612 -2.1% 1,660 1,89

31. Slide 31: Corporate & Investment Banking (Constant EUR mn)

    Corporate & Investment Banking (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 838 811 869 1,013 1,042 957 933 -2.5% 2,518 2,932 +16.5% Net fee income 606 530 509 464 648 621 623 +0.3% 1

32. Slide 32: Wealth Management & Insurance (EUR mn)

    Wealth Management & Insurance (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 334 392 409 377 423 404 406 +0.6% 1,135 1,233 +8.6% Net fee income 308 317 318 319 364 355 366 +3.1% 943 1,084 +14.9%

33. Slide 33: Wealth Management & Insurance (Constant EUR mn)

    Wealth Management & Insurance (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 335 391 407 375 421 402 410 +2.1% 1,132 1,233 +9.0% Net fee income 308 315 314 316 361 352 371 +5.5% 937 1,0

34. Slide 34: Payments (EUR mn)

    Payments (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 582 611 649 582 675 645 596 -7.6% 1,842 1,916 +4.0% Net fee income 770 703 772 708 676 695 698 +0.4% 2,244 2,069 -7.8% Gains (losses) on f

35. Slide 35: Payments (Constant EUR mn)

    Payments (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 580 594 622 558 651 633 632 -0.1% 1,796 1,916 +6.7% Net fee income 765 682 743 685 657 686 725 +5.7% 2,189 2,069 -5.5% Gains (los

36. Slide 36: PagoNxt (EUR mn)

    PagoNxt (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 9 22 24 38 31 31 35 +10.3% 55 97 +74.5% Net fee income 218 228 255 253 224 233 241 +3.5% 701 697 -0.6% Gains (losses) on financial transact

37. Slide 37: PagoNxt (Constant EUR mn)

    PagoNxt (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 9 22 23 36 29 31 36 +17.4% 54 97 +80.0% Net fee income 216 220 245 243 217 230 250 +9.0% 681 697 +2.3% Gains (losses) on financial

38. Slide 38: Cards (EUR mn)

    Cards (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 573 589 625 544 644 613 561 -8.5% 1,787 1,819 +1.8% Net fee income 551 475 517 456 452 462 457 -1.1% 1,542 1,371 -11.1% Gains (losses) on fin

39. Slide 39: Cards (Constant EUR mn)

    Cards (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 571 573 599 522 621 602 596 -1.0% 1,742 1,819 +4.4% Net fee income 548 461 498 442 440 456 475 +4.0% 1,508 1,371 -9.1% Gains (losses

40. Slide 40: Corporate Centre (EUR mn)

    Corporate Centre (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income (52) (42) (30) 83 (31) (69) (95) +38.4% (124) (195) +57.1% Net fee income (3) (3) 1 (8) (1) 2 (8) — (6) (7) +33.7% Gains (losses)

41. Slide 41: Supplementary information

    Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary 41

42. Slide 42: Europe (EUR mn)

    Europe (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 3,597 3,968 4,222 4,123 4,123 4,165 4,205 +0.9% 11,787 12,493 +6.0% Net fee income 1,168 1,076 1,084 1,071 1,202 1,167 1,168 +0.1% 3,328 3,5

43. Slide 43: Europe (Constant EUR mn)

    Europe (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 3,699 4,030 4,266 4,162 4,134 4,167 4,192 +0.6% 11,995 12,493 +4.1% Net fee income 1,185 1,086 1,092 1,076 1,203 1,166 1,167 +0.1%

44. Slide 44: Spain (EUR mn)

    Spain (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 1,460 1,701 1,741 1,738 1,816 1,840 1,799 -2.2% 4,903 5,454 +11.3% Net fee income 752 661 635 652 746 738 707 -4.1% 2,047 2,191 +7.0% Gains (

45. Slide 45: United Kingdom (EUR mn)

    United Kingdom (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 1,283 1,300 1,344 1,225 1,185 1,196 1,256 +5.0% 3,927 3,637 -7.4% Net fee income 83 84 97 74 79 64 80 +25.7% 264 222 -15.7% Gains (l

46. Slide 46: United Kingdom (Constant EUR mn)

    United Kingdom (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 1,331 1,328 1,357 1,247 1,192 1,199 1,246 +4.0% 4,016 3,637 -9.4% Net fee income 86 86 98 76 79 64 79 +24.6% 270 222 -17.6%

47. Slide 47: United Kingdom (GBP mn)

    United Kingdom (GBP mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 1,133 1,130 1,156 1,061 1,015 1,020 1,061 +4.0% 3,419 3,096 -9.4% Net fee income 73 73 83 64 67 54 68 +24.6% 230 189 -17.6% Gains (l

48. Slide 48: Portugal (EUR mn)

    Portugal (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 261 314 439 451 431 413 373 -9.8% 1,014 1,216 +20.0% Net fee income 124 111 117 111 127 115 115 -0.6% 352 357 +1.3% Gains (losses) on fina

49. Slide 49: Poland (EUR mn)

    Poland (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 586 623 662 673 686 697 727 +4.3% 1,871 2,111 +12.8% Net fee income 145 144 148 153 176 163 170 +4.2% 437 508 +16.4% Gains (losses) on finan

50. Slide 50: Poland (Constant EUR mn)

    Poland (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 641 657 692 690 691 697 724 +3.9% 1,991 2,111 +6.0% Net fee income 158 152 155 157 177 163 169 +3.8% 465 508 +9.4% Gains (losses) o

51. Slide 51: Poland (PLN mn)

    Poland (PLN mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 2,759 2,830 2,980 2,972 2,973 2,999 3,115 +3.9% 8,569 9,087 +6.0% Net fee income 682 653 665 675 761 700 727 +3.8% 2,000 2,188 +9.4% Gains (

52. Slide 52: Other Europe (EUR mn)

    Other Europe (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 7 30 36 36 5 19 50 +164.0% 73 74 +1.4% Net fee income 65 75 87 81 74 87 96 +10.9% 228 258 +13.2% Gains (losses) on financial transacti

53. Slide 53: Other Europe (Constant EUR mn)

    Other Europe (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 6 30 36 36 5 18 51 +173.4% 72 74 +2.2% Net fee income 65 75 87 81 74 87 97 +11.9% 227 258 +13.4% Gains (losses) on financial

54. Slide 54: Digital Consumer Bank Europe (EUR mn)

    Digital Consumer Bank Europe (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 1,029 1,011 1,069 1,083 1,095 1,092 1,069 -2.1% 3,110 3,256 +4.7% Net fee income 191 203 210 192 220 231 229 -0.8% 604

55. Slide 55: Digital Consumer Bank Europe (Constant EUR mn)

    Digital Consumer Bank Europe (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 1,030 1,016 1,071 1,087 1,093 1,092 1,070 -2.0% 3,117 3,256 +4.5% Net fee income 191 204 211 192 220 231 229

56. Slide 56: North America (EUR mn)

    North America (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 2,448 2,483 2,602 2,626 2,611 2,636 2,527 -4.2% 7,533 7,774 +3.2% Net fee income 521 555 560 555 638 662 641 -3.1% 1,637 1,941 +18.6%

57. Slide 57: North America (Constant EUR mn)

    North America (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 2,470 2,487 2,567 2,592 2,561 2,581 2,632 +2.0% 7,524 7,774 +3.3% Net fee income 532 556 548 547 623 646 671 +3.9% 1,637 1,9

58. Slide 58: United States (EUR mn)

    United States (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 1,465 1,436 1,414 1,428 1,396 1,428 1,411 -1.2% 4,314 4,235 -1.8% Net fee income 190 200 189 187 267 272 296 +8.7% 579 835 +44.1% Gai

59. Slide 59: United States (Constant EUR mn)

    United States (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 1,446 1,437 1,415 1,413 1,394 1,414 1,426 +0.8% 4,299 4,235 -1.5% Net fee income 187 200 190 185 266 270 299 +10.8% 577 835

60. Slide 60: United States (USD mn)

    United States (USD mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 1,572 1,562 1,538 1,536 1,516 1,537 1,550 +0.8% 4,672 4,603 -1.5% Net fee income 203 218 206 201 290 293 325 +10.8% 627 908 +44.7% Ga

61. Slide 61: Mexico (EUR mn)

    Mexico (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 983 1,045 1,186 1,195 1,214 1,207 1,113 -7.8% 3,213 3,534 +10.0% Net fee income 320 344 356 355 359 374 329 -12.0% 1,019 1,062 +4.3% Gains (

62. Slide 62: Mexico (Constant EUR mn)

    Mexico (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 1,024 1,047 1,150 1,176 1,166 1,165 1,203 +3.3% 3,220 3,534 +9.7% Net fee income 333 345 344 349 345 361 357 -1.3% 1,021 1,062 +4.0

63. Slide 63: Mexico (MXN mn)

    Mexico (MXN mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 19,669 20,110 22,081 22,597 22,390 22,383 23,112 +3.3% 61,860 67,885 +9.7% Net fee income 6,400 6,619 6,599 6,700 6,621 6,937 6,850 -1.3% 19

64. Slide 64: Other North America (EUR mn)

    Other North America (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 0 3 2 3 1 2 3 +72.2% 5 5 -6.2% Net fee income 12 11 15 13 12 15 16 +4.2% 38 43 +11.9% Gains (losses) on financial transactions

65. Slide 65: Other North America (Constant EUR mn)

    Other North America (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 0 3 2 3 1 2 3 +71.1% 5 5 -6.2% Net fee income 12 11 15 13 12 15 16 +4.2% 38 43 +11.9% Gains (losses) on financial tran

66. Slide 66: South America (EUR mn)

    South America (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 3,163 3,314 3,356 3,206 4,185 3,649 3,520 -3.5% 9,833 11,355 +15.5% Net fee income 1,166 1,229 1,264 1,025 1,182 1,176 1,159 -1.4% 3,

67. Slide 67: South America (Constant EUR mn)

    South America (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 3,069 3,150 3,184 3,024 4,045 3,606 3,704 +2.7% 9,402 11,355 +20.8% Net fee income 1,129 1,162 1,193 964 1,136 1,160 1,220 +

68. Slide 68: Brazil (EUR mn)

    Brazil (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 2,105 2,180 2,327 2,504 2,630 2,605 2,474 -5.0% 6,612 7,709 +16.6% Net fee income 817 858 902 885 846 888 833 -6.2% 2,577 2,567 -0.4% Gains

69. Slide 69: Brazil (Constant EUR mn)

    Brazil (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 2,065 2,067 2,176 2,351 2,488 2,570 2,650 +3.1% 6,308 7,709 +22.2% Net fee income 801 814 843 831 801 875 891 +1.9% 2,458 2,567 +4.

70. Slide 70: Brazil (BRL mn)

    Brazil (BRL mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 11,731 11,745 12,364 13,359 14,135 14,604 15,058 +3.1% 35,840 43,797 +22.2% Net fee income 4,550 4,625 4,791 4,719 4,549 4,973 5,065 +1.9% 1

71. Slide 71: Chile (EUR mn)

    Chile (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 371 356 241 415 352 472 482 +2.1% 968 1,306 +34.9% Net fee income 153 163 133 122 129 137 146 +6.3% 449 411 -8.6% Gains (losses) on financial

72. Slide 72: Chile (Constant EUR mn)

    Chile (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 317 305 223 386 355 467 483 +3.5% 845 1,306 +54.5% Net fee income 131 140 122 117 130 135 146 +8.1% 393 411 +4.7% Gains (losses) on

73. Slide 73: Chile (CLP mn)

    Chile (CLP mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 322,790 310,631 227,113 392,690 361,759 475,476 491,886 +3.5% 860,533 1,329,120 +54.5% Net fee income 133,249 142,289 124,044 118,714 132,221

74. Slide 74: Argentina (EUR mn)

    Argentina (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 532 606 629 112 1,025 397 390 -1.9% 1,767 1,812 +2.6% Net fee income 137 145 164 (50) 131 73 111 +53.1% 446 315 -29.3% Gains (losses) on

75. Slide 75: Argentina (Argentine peso mn)

    Argentina (Argentine peso mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 120,749 197,821 335,842 1,024,801 949,444 1,183,149 799,603 -32.4% 654,412 2,932,197 +348.1% Net fee income 31,111 47,835 86,2

76. Slide 76: Other South America (EUR mn)

    Other South America (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 154 172 160 176 178 175 175 -0.3% 486 528 +8.6% Net fee income 59 62 65 67 75 78 70 -11.2% 187 223 +19.4% Gains (losses) on fin

77. Slide 77: Other South America (Constant EUR mn)

    Other South America (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q3'24 / Q2'24 9M'23 9M'24 9M'24 / 9M'23 Net interest income 155 171 156 175 176 172 181 +5.3% 482 528 +9.7% Net fee income 60 63 64 67 75 77 72 -7.0% 187 223 +19.0% Gains (losses

78. Slide 78: Supplementary information

    Supplementary information Balance sheet and capital management Yield on loans and cost of deposits Efficiency ratio Asset quality Quarterly income statements Primary segments Secondary segments Glossary 78

79. Slide 79: Glossary - Acronyms

    Glossary - Acronyms ❑ ALCO: Assets and Liabilities Committee ❑ MREL: Minimum requirement for own funds and eligible liabilities ❑ AT1: Additional Tier 1 ❑ NII: Net interest income ❑ bn: Billion ❑ NPL: Non-performing loans ❑ bps: basis points ❑ PBT: Profit before tax ❑ CET1: Common equity tier 1 ❑ P&

80. Slide 80: Glossary - Definitions

    Glossary - Definitions PROFITABILITY AND EFFICIENCY ✓ RoTE: Return on tangible capital: Group attributable profit / average of: net equity (excluding minority interests) – intangible assets (including goodwill) ✓ RoRWA: Return on risk-weighted assets: consolidated profit / average risk-weighted asse

81. Slide 81: 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:

Banco Santander — 9M 2024 Earnings Presentation on 6ix