Strategic and Financial Analysis. Financial Division

Institutional Presentation 2023

Index

1

2

3

4

5

Our business

Group structure

2023 results

Final remarks

Links to

model and

and businesses

& activity

public materials

strategy

2

1.Our business model and strategy

Santander, a leading financial group

2023 Highlights

Total assets (€ bn)

1,797

Customer loans (€ bn excluding reverse repos)

1,015

Customer deposits + mutual funds (€ bn excluding repos)

1,177

Branches

8,518

2023 Net operating income (pre-provision profit) (€ mn)

32,222

2023 Attributable profit (€ mn)

11,076

Market capitalization (€ bn; 29-12-23)

61

People (headcount)

212,764

Customers (mn)

165

Shareholders (mn)

3.7

Financial inclusion starting 2023 (mn people)

1.8

4

The Santander

Way

Who we are and what guides us

5

Santander business model

Our business model

Digital bank

In-market

Business

based on unique

Geography

competitive advantages

with branches

& Global

Balance sheet

is the foundation for

generating value for our shareholders

Entering a new phase of value creation

6

01.

Customer focus

We have grown our customer base over the last seven years,

with balanced growth by region and business

165 (+5mn)

million customers

100 mn (+0.3mn) Active customers

Customer satisfaction

Top 3 NPS1 in

7 markets

Distribution by market

15%

28%

45%

12%

54.2 mn (+5%)

Digital customers

+10%

56%

Transactions per

Digital sales as a

active customer

% of total sales in 2023

Note: YoY changes

Transactions include merchant acquiring, cards and electronic A2A payments.

  1. NPS - internal benchmark of individual customers' satisfaction audited by Stiga/Deloitte H2'23.

7

01.

Customer focus

To bring all our customers to a common operating model, while converging to a common technology

to build a digital bank with branches

Note: data as of Dec-23.

Traditional banking

Branches,

ATMs,

retail agents, …

Branches: >8,000

Best omni-channel experience,

while we guarantee access to all segments

Digital banking

Internet,

mobiles,

tablets,

smartphones,

smartwatches,…

Collaborative spaces and increased digital capabilities

Santander Smart

and Ágil branches

Sparsely populated communities

Low-income communities

Most vulnerable groups

University students

8

02.

In-market scale

Market shares

North America

Europe

Scale

Our unique combination

of in-market scale and

global scale network allow us to be among the most profitable banks in our markets

4%

Auto lending

2%

Deposits

13% Loans

12%

Deposits

Global scale

Five global businesses

South America

18%

9%

Loans

Loans

10%

17%

Deposits

Deposits

12%

Loans

10%

Deposits

9%

Loans

7%

Deposits

17%

12%

Loans

Loans

11%

13%

Deposits

Deposits

18%

Loans

20%

Deposits

Digital

Consumer

Bank

Europe

#1 European

Consumer

Bank

Retail &

Digital

Corporate &

Wealth

Commercial

Consumer

Investment

Management &

Payments

Banking

Bank

Banking

Insurance

Market share data: as at Sep-23 or latest available. Spain includes Santander España + Hub Madrid + SCF España + Openbank and Other Resident sectors in deposits. The UK: includes London Branch. Poland:

including SCF business in Poland. The US: retail auto loans includes Santander Consumer USA and Chrysler Capital combined. Deposits market share in the US as of 30/06/2023 considering all states where 9

Santander Bank operates. Brazil: deposits including debenture, LCA (agribusiness notes), LCI (real estate credit notes), financial bills (letras financeiras), COE (certificates of structured operations) and LIG (Letras inmobiliarias Grantidas).

03.

Diversification

Geographical

well-diversified profit and balance sheet

Profit

Customer loans

Customer funds

10%

45%

13%

55%

6%

62%

17%

25%

16%

20%

16%

15%

Europe

North America

South America

DCB Europe

Note: 2023 underlying attributable profit by region (% operating areas excluding Corporate Centre). Dec-23 customer loans excluding reverse repos and customer funds includes customer deposits

10

excluding repos + mutual funds (% operating areas).

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Disclaimer

Banco Santander SA published this content on 15 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 March 2024 12:49:03 UTC.