Banco Santander (SAN) 6-K Current report (foreign)

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, 2025 Commission File Number: 001-12518 Banco Santander, S.A. (Exact name of registrant as specified in its charter) Ciudad Grupo Santander 28660 Boadilla del Monte (Madrid) Spain (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F ☒ Form 40-F ☐

BANCO SANTANDER, S.A. ________________________ TABLE OF CONTENTS Item 1. January - December 2024 Earnings presentation (Supplementary information)

5 February 2025 Supplementary information 2024

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 defined in the Guidelines on Alternative Performance Measures issued by the European Securities and Markets Authority (ESMA) on 5 October 2015, and other non-IFRS measures. The APMs and non-IFRS measures were calculated with information from Grupo Santander; however, they are neither defined or detailed in the applicable financial reporting framework nor audited or reviewed by our auditors. We use these APMs and non-IFRS measures when planning, monitoring and evaluating our performance. We consider them to be useful metrics for our management and investors to compare operating performance between periods. APMs we use are presented unless otherwise specified on a constant FX basis, which is computed by adjusting comparative period reported data for the effects of foreign currency translation differences, which distort period-on-period comparisons. Nonetheless, the APMs and non-IFRS measures are supplemental information; their purpose is not to substitute IFRS measures. Furthermore, companies in our industry and others may calculate or use APMs and non-IFRS measures differently, thus making them less useful for comparison purposes. APMs using ESG labels have not been calculated in accordance with the Taxonomy Regulation or with the indicators for principal adverse impact in SFDR. For further details on APMs and Non-IFRS Measures, including their definition or a reconciliation between any applicable management indicators and the financial data presented in the consolidated financial statements prepared under IFRS, please see the 2023 Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the SEC) on 21 February 2024 (https://www.santander.com/content/dam/santander-com/en/documentos/informacion-sobre- resultados-semestrales-y-anuales-suministrada-a-la-sec/2024/sec-2023-annual-20-f-2023-en.pdf), as well as the section “Alternative performance measures” of Banco Santander, S.A. (Santander) Q4 2024 Financial Report, published on 5 February 2025 (https://www.santander.com/en/shareholders-and-investors/financial-and-economic-information#quarterly-results). Underlying measures, which are included in this document, are non-IFRS measures. The businesses included in each of our geographic segments and the accounting principles under which their results are presented here may differ from the businesses included and local applicable accounting principles of our public subsidiaries in such geographies. Accordingly, the results of operations and trends shown for our geographic segments may differ materially from those of such subsidiaries. Non-financial information This presentation contains, in addition to financial information, non-financial information (NFI), including environmental, social and governance-related metrics, statements, goals, commitments and opinions. NFI is not audited nor reviewed by an external auditor. NFI is prepared following various external and internal frameworks, reporting guidelines and measurement, collection and verification methods and practices, which are materially different from those applicable to financial information and are in many cases emerging and evolving. NFI is based on various materiality thresholds, estimates, assumptions, judgments and underlying data derived internally and from third parties. NFI is thus subject to significant measurement uncertainties, may not be comparable to NFI of other companies or over time or across periods and its inclusion is not meant to imply that the information is fit for any particular purpose or that it is material to us under mandatory reporting standards. NFI is for informational purposes only and without any liability being accepted in connection with it except where such liability cannot be limited under overriding provisions of applicable law. Forward-looking statements Santander hereby warns that this presentation contains “forward-looking statements” as per the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such statements can be understood through words and expressions like “expect”, “project”, “anticipate”, “should”, “intend”, “probability”, “risk”, “VaR”, “RoRAC”, “RoRWA”, “TNAV”, “target”, “goal”, “objective”, “estimate”, “future”, “commitment”, “commit”, “focus”, “pledge” and similar expressions. They include (but are not limited to) statements on future business development, shareholder remuneration policy and NFI.

3 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 statements are based on current expectations and future estimates about Santander’s and third-parties’ operations and businesses and address matters that are uncertain to varying degrees and may change, including, but not limited to (a) expectations, targets, objectives, strategies and goals relating to environmental, social, safety and governance performance, including expectations regarding future execution of Santander’s and third-parties’ (including governments and other public actors) energy and climate strategies, and the underlying assumptions and estimated impacts on Santander’s and third-parties’ businesses related thereto; (b) Santander’s and third-parties’ approach, plans and expectations in relation to carbon use and targeted reductions of emissions, which may be affected by conflicting interests such as energy security; (c) changes in operations or investments under existing or future environmental laws and regulations; (d) changes in rules and regulations, regulatory requirements and internal policies, including those related to climate-related initiatives; (e) our own decisions and actions including those affecting or changing our practices, operations, priorities, strategies, policies or procedures; (f) events that lead to damage to our reputation and brand; (g) exposure to operational losses, including as a result of cyberattacks, data breaches or other security incidents; and (h) the uncertainty over the scope of actions that may be required by us, governments and others to achieve goals relating to climate, environmental and social matters, as well as the evolving nature of underlying science and industry and governmental standards and regulations. In addition, the important factors described 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 unpredictable factors, could affect our future development and results and could lead to outcomes materially different from what our forward-looking statements anticipate, expect, project or assume. Forward-looking statements are therefore aspirational, should be regarded as indicative, preliminary and for illustrative purposes only, speak only as of the date of this presentation, are informed by the knowledge, information and views available on such date and are subject to change without notice. Santander is not required to update or revise any forward-looking statements, regardless of new information, future events or otherwise, except as required by applicable law. Santander does not accept any liability in connection with forward-looking statements except where such liability cannot be limited under overriding provisions of applicable law. Not a securities offer This presentation and the information it contains does not constitute an offer to sell nor the solicitation of an offer to buy any securities. Past performance does not indicate future outcomes Statements about historical performance or growth rates must not be construed as suggesting that future performance, share price or results (including earnings per share) will necessarily be the same or higher than in a previous period. Nothing in this presentation should be taken as a profit and loss forecast. Third Party Information In this presentation, Santander relies on and refers to certain information and statistics obtained from publicly-available information and third-party sources, which it believes to be reliable. Neither Santander nor its directors, officers and employees have independently verified the accuracy or completeness of any such publicly-available and third-party information, make any representation or warranty as to the quality, fitness for a particular purpose, non-infringement, accuracy or completeness of such information or undertake any obligation to update such information after the date of this presentation. In no event shall Santander be liable for any use by any party of, for any decision made or action taken by any party in reliance upon, or for inaccuracies or errors in, or omission from, such publicly-available and third-party information contained herein. Any sources of publicly-available information and third-party information referred or contained herein retain all rights with respect to such information and use of such information herein shall not be deemed to grant a license to any third party.

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

5 Santander’s capital levels, both phased-in and fully loaded, exceed minimum regulatory requirements 4.50% 12.76% >12% 0.98% 2.50% 1.25% CCyB, 0.40% 1.83% 1.66% 1.50% 2.44% 2.73% 2.40% 13.92% 17.15% >15% SyRB, 0.03% Assumed regulatory requirement 2024 Group ratios Dec-24 2024 target ratios Assumed capital requirements (fully-loaded)**SREP capital requirements and MDA* • AT1 and T2 ratios are planned to be close to 1.5% and 2.4% of RWAs respectively CET1 T2 AT1 Dec-24 * The phased-in ratio includes the transitory treatment of IFRS 9, calculated in accordance with article 473 bis of the Capital Requirements Regulation (CRR) and subsequent modifications introduced by Regulation 2020/873 of the European Union. Total phased-in capital ratios include the transitory treatment according to chapter 4, title 1, part 10 of the CRR. ** Fully-loaded CRR and fully-loaded IFRS 9. (1) Estimated countercyclical buffer as of Dec-24. (2) Estimated systemic risk buffer as of Dec-24. (3) MDA trigger = 3.12% - 0.17% = 2.96% (17bps of AT1 shortfall is covered with CET1). Santander Parent Bank has €70.4bn in Available Distributable Items, 108 times the full Parent AT1 budgeted for 2024. 4.50% 12.78% 0.98% 2.50% 1.25% SyRB; 0.03% CCyB; 0.40% 1.83% 1.66% 2.44% 2.95% 13.92% 17.39% Regulatory Requirement 2024 Group ratios Dec-24 • The minimum CET1 to be maintained by the Group is 9.66% • As of Dec-24, the distance to the MDA is 296bps3 and the CET1 management buffer is 312bps CET1 CCoB Pillar 1 AT1 G-SIB buffer2 T2 T2 AT1 Pillar 2 R Dec-24 CCoB Pillar 1 AT1 G-SIB buffer T2 Pillar 2 R 1 +311bps +323bps +294bps +347bps +312bps +296bps 1 2 2

6 Bond portfolio Diversified bond portfolio represents just 8% of total assets %, Dec-24 Spain 29% Poland 12% UK 7% Portugal 6% SCF 4% Mexico 12% US 11% Brazil 10% Chile 5% Other South America 3% €144bn o/w HTC €92bn (64%) • Bond portfolio represents 8% of total assets • HTC&S duration: 2.0 years • Mark to market impact of the HTC portfolio equivalent to just 1% of total FL CET1 (€79.7bn) ALCO IRRBB €112bn Liquidity portfolio €32bn €144bn

7 Conservative and decentralized liquidity and funding model Very manageable maturity profile€51.3bn1 issued in public markets in 2024 (1) Data includes public issuances from all units with period-average exchange rates. Excludes securitizations. (2) Includes €10.8bn of Banco Santander, S.A., €2.9bn of Santander International Products PLC, €0.2bn of Santander Global Issuances B.V. and €0.2bn of Moon GC&P Investments, S.L. (3) Includes €0.188bn (net between €1.500bn issuance and €1.312bn repurchased following the tender offer exercise on XS1793250041, both executed in May-24). (4) Includes AT1 / Preferred shares and Tier 2 / Subordinated. € bn, Dec-24 0.5 14.0 9.1 1.6 6.9 0.4 0.9 3.0 0.5 3.0 1.2 1.0 4.3 0.9 1.3 8.4 23.4 13.8 2.9 2.8 Covered bonds Senior Senior non- preferred AT1 Tier 2 € bn, Dec-24 Covered Bonds Senior Non- Preferred Senior Other 2025 2026 2027 2028 >2029 4.4 11.4 12.1 4.7 5.7 11.9 6.5 8.3 15.5 8.8 9.9 14.9 14.8 12.1 8.0 12.6 5.3 20.9 3.4 2.6 1.2 1.9 0.3 25.4 2029• Other includes issuances in Brazil, Portugal, Poland and Mexico Spain UK SCF Chile US Other 4 2 3

8 2024 issuances against funding plan Execution of 2024 funding plan € bn, Dec-24 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 €2.56bn in Tier 2 debt issued in 2023 as pre-funding for the 2024 funding plan. (2) Includes €3.25bn Senior Non-Preferred and €3.4bn Senior Preferred issued in 2023, as pre-funding for the 2024 funding plan. Also includes €5.3bn Senior Non-Preferred and €2.5bn Senior Preferred issued in 2024, as pre-funding for the 2025 funding plan. (3) Includes €1bn Covered Bond issued in 2024, as pre-funding for the 2025 funding plan.  Continue fulfilling the 1.5% AT1 and 2.4% T2 buffers subject to RWA growth  MREL & TLAC ratios above regulatory requirements  Liquidity position remains solid, with LCR and NFSR above minimum requirements and ample liquidity buffers  Frontloading of issuances in the first half of the year, particularly focused on regulatory issuances Banco Santander, S.A.’s 2024 funding plan contemplated the following: Plan Issued Plan Issued Plan Issued Plan Issued Banco Santander, S.A. 4 - 5 6.9 16 - 18 25.8 0 - 1 0.5 20 - 24 33.2 UK - - 1 - 2 1.3 5 - 6 6.9 6 - 8 8.2 SCF - - 3 - 5 3.0 - - 3 - 5 3.0 SHUSA - - 2 - 3 3.5 - - 2 - 3 3.5 TOTAL 4 - 5 6.9 22 - 28 33.6 5 - 7 7.4 31 - 40 47.8 AT1 + Tier 2 SNP + Senior Covered Bonds TOTAL 21 3 1 - 2 3

9 Plan Issued Plan Issued Plan Issued Plan Issued Banco Santander, S.A. 0 - 0.5 - 20 - 21 10.9 0.5 - 2 - 20.5 - 23.5 10.9 UK - - 7 - 8 1.2 4 - 5 3.0 11 - 13 4.2 SHUSA - - 3 - 4 - - - 3 - 4 - TOTAL 0 - 0.5 - 30 - 33 12.1 4.5 - 7 3.0 34.5 - 40.5 15.1 Hybrids SNP + Senior Covered Bonds TOTAL 2025 funding plan and issuances YtD Issuance plan subject to, amongst other considerations, market conditions and regulatory requirements 2025 funding plan  Continue fulfilling the 1.5% AT1 and 2.4% T2 buffers subject to RWA growth  MREL & TLAC ratios above regulatory requirements  Liquidity position remains solid, with LCR and NFSR above minimum requirements and ample liquidity buffers Banco Santander, S.A.’s 2025 funding plan contemplates the following: Note: Other secured issuances (for example ABS, RMBS, etc.) are not considered in the table above. (1) Includes €5.3bn Senior Non-Preferred and €2.5bn Senior Preferred issued in 2024, as pre-funding for the 2025 funding plan. (2) Includes €1bn Covered Bond issued in 2024, as pre-funding for the 2025 funding plan. 2 1 € bn, Jan-25

10 TLAC/MREL for the Resolution Group headed by Banco Santander, S.A. 29.7% 11.5% 4.2% 8.3% 4.9% 42.1% 16.4% % RWAs % LE 18.0% 6.8% 4.2% 8.8% 3.0% 31.0% 9.7% % RWAs % LE MREL Dec-24(e)TLAC Dec-24(e) % and € bn Req. 33.9% Requirement CBR Buffer SNP T2 CET1 Senior AT1 Sub debt % Req. 22.2% Distance to M-MDA €27.3bn 882bps €29.3bn 297bps €33.7bn 826bps €51.5bn 493bps 82.5 10.0 13.6 2.7 34.7 28.3 171.8 MREL instruments 1 1 1 1 2 Requirement CBR Buffer Note: Figures applying the IFRS 9 transitional arrangements. Provisional data. (1) TLAC RWAs are €310bn and leverage exposure (LE) is €986bn. MREL RWAs are €408bn and leverage exposure is €1,045bn. (2) MREL Requirement based on RWAs from Jun-24: 29.69% + Combined Buffer Requirement (CBR).

11 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) UK: Ring-fenced bank; Spain: Banco Santander, S.A. standalone. (3) Group Internal LCR ratio including liquidity transfer restrictions. Using ECB consolidation criteria, which in addition to including liquidity transfer restrictions, also excludes any liquidity surplus exceeding 100% LCR in third countries, even if such liquidity could be used to cover stress outflows within the country, it would be 152% in Dec-24 and 151% in Sep-24. Liquidity Balance Sheet ST Funding Securitizations and others Loans and advances to customers Fixed assets & other Customer deposits M/LT debt issuances € bn, Dec-24 Equity and other liabilitiesFinancial assets 402 38 90 163 1,054 223 67 1,056 1,547 1,547 Assets Liabilities Net Stable Funding Ratio (NSFR) Dec-24 Sep-24 Sep-24 Spain 2 162% 154% 117% UK 2 154% 155% 135% Portugal 142% 146% 120% Poland 220% 211% 153% US 179% 165% 117% Mexico 212% 172% 129% Brazil 168% 166% 116% Chile 181% 168% 111% Argentina 226% 279% 183% SCF 263% 339% 115% Group 168% 161% 123% 1 HQLAs1 HQLA Level 1 339.3 HQLA Level 2 11.7 o/w Level 2A 4.7 o/w Level 2B 7.0 Liquidity Coverage Ratio (LCR) €351bn o/w cash €189bn 3

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

13 NIM (%) NII / Average earning assets Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Retail & Commercial Banking 2.52 2.74 2.85 2.71 3.12 3.12 3.08 3.17 Spain 1.68 2.10 2.22 2.22 2.58 2.78 2.68 2.49 United Kingdom 1.52 1.54 1.61 1.48 1.41 1.46 1.53 1.58 Mexico 5.53 5.96 6.07 5.67 5.74 5.76 5.93 6.21 Brazil 6.10 6.00 6.06 5.72 7.44 7.55 7.83 7.59 Digital Consumer Bank 4.69 4.56 4.57 4.57 4.69 4.55 4.48 4.75 DCB Europe 2.81 2.76 2.75 2.79 2.74 2.72 2.64 2.71 US 8.27 8.18 8.10 8.14 8.40 8.53 8.43 8.88 Corporate & Investment Banking 1.12 1.05 1.10 1.29 1.20 1.06 0.94 1.11 Wealth Management & Insurance 2.79 3.20 3.32 2.97 3.20 3.04 3.01 2.89 Payments 7.40 7.42 7.71 6.56 7.86 7.86 7.41 8.03 TOTAL GROUP 2.63 2.73 2.82 2.76 2.97 2.89 2.79 2.92 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Europe 1.67 1.83 1.95 1.88 1.88 1.94 1.90 1.87 Spain 1.44 1.68 1.69 1.65 1.77 1.84 1.70 1.65 United Kingdom 1.58 1.60 1.66 1.52 1.46 1.52 1.58 1.64 Portugal 1.85 2.23 3.21 3.24 3.03 2.91 2.58 2.31 Poland 4.71 4.75 4.79 4.76 4.67 4.67 4.77 4.60 Digital Consumer Bank Europe 2.81 2.76 2.75 2.79 2.74 2.72 2.64 2.71 North America 3.71 3.69 3.89 3.94 3.85 3.84 3.74 3.65 US 3.32 3.27 3.29 3.26 3.16 3.10 3.02 3.03 Mexico 4.53 4.52 5.07 5.19 5.19 5.31 5.24 5.09 South America 4.75 4.80 4.70 4.47 5.97 5.35 5.24 6.27 Brazil 4.94 4.79 4.81 5.09 5.36 5.36 5.21 5.14 Chile 2.27 2.16 1.55 2.63 2.38 3.33 3.60 3.80 Argentina 16.02 21.17 28.82 63.10 38.69 35.65 19.30 13.52

14 Yield on loans (%) Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Retail & Commercial Banking 5.45 5.88 6.00 6.26 6.49 6.48 6.40 6.49 Spain 2.74 3.21 3.67 3.95 4.10 4.09 4.06 3.89 United Kingdom 2.94 3.18 3.41 3.64 3.81 3.94 4.07 4.13 Mexico 13.43 13.85 13.99 14.00 13.82 13.73 13.78 13.46 Brazil 15.95 16.03 16.21 15.92 15.93 16.31 16.44 16.52 Digital Consumer Bank 7.32 7.75 7.81 7.82 8.38 8.29 8.23 8.56 DCB Europe 4.72 4.99 5.23 5.46 5.65 5.76 5.73 5.80 US 10.16 10.82 10.78 10.95 11.35 11.56 11.42 11.64 Corporate & Investment Banking 6.48 6.86 7.02 6.44 7.36 6.91 6.86 6.86 Wealth Management & Insurance 3.84 4.24 4.48 4.72 4.87 4.81 4.74 4.56 Payments 15.43 15.17 15.27 13.11 15.67 14.69 14.30 15.18 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Europe 3.46 3.84 4.19 4.40 4.56 4.57 4.61 4.58 Spain 3.28 3.76 4.22 4.45 4.64 4.54 4.50 4.31 United Kingdom 2.98 3.22 3.45 3.67 3.85 3.97 4.11 4.18 Portugal 3.32 4.03 4.63 5.00 5.09 4.95 4.76 4.38 Poland 8.27 8.42 8.49 8.24 8.01 7.89 7.96 7.86 Digital Consumer Bank Europe 4.72 4.99 5.23 5.46 5.65 5.76 5.73 5.80 North America 9.46 10.11 10.24 10.33 10.60 10.64 10.46 10.31 US 7.88 8.44 8.49 8.59 8.94 9.03 8.90 8.81 Mexico 13.72 14.34 14.46 14.57 14.49 14.42 14.47 14.25 South America 13.75 13.86 13.03 14.26 13.96 13.26 13.19 14.16 Brazil 14.79 14.71 14.70 14.52 14.64 14.84 14.89 14.89 Chile 9.56 9.92 7.53 10.44 8.66 9.64 8.82 9.58 Argentina 40.29 43.03 48.60 56.01 54.84 38.07 28.35 28.33

15 Cost of deposits (%) (*).- Payments’s cost of deposits is not provided as we do not consider it a relevant metric for this type of business. Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Retail & Commercial Banking 1.89 2.15 2.31 2.00 2.40 2.19 2.15 2.13 Spain 0.22 0.39 0.53 0.63 0.65 0.69 0.73 0.75 United Kingdom 1.08 1.38 1.67 2.08 2.22 2.15 2.07 1.99 Mexico 4.58 5.07 5.09 5.13 5.21 5.17 4.88 4.44 Brazil 8.37 8.32 8.49 7.62 7.22 7.11 7.27 7.33 Digital Consumer Bank 0.91 1.23 1.59 1.90 2.15 2.25 2.27 2.23 DCB Europe 1.05 1.38 1.71 2.02 2.25 2.32 2.34 2.28 US 0.70 0.99 1.39 1.74 2.00 2.13 2.13 2.15 Corporate & Investment Banking 5.88 6.53 6.87 5.34 6.62 5.52 6.22 6.26 Wealth Management & Insurance 1.93 2.18 2.41 2.25 2.62 2.53 2.53 2.47 Payments* N/A N/A N/A N/A N/A N/A N/A N/A Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Europe 0.82 1.05 1.27 1.50 1.54 1.55 1.58 1.47 Spain 0.53 0.71 0.90 0.99 1.03 1.06 1.02 1.00 United Kingdom 1.15 1.45 1.75 2.16 2.30 2.24 2.15 2.06 Portugal 0.13 0.26 0.38 0.62 0.86 0.98 1.16 0.98 Poland 1.75 1.89 1.91 1.66 1.51 1.52 1.47 1.48 Digital Consumer Bank Europe 1.05 1.38 1.71 2.02 2.25 2.32 2.34 2.28 North America 2.99 3.39 3.70 3.87 4.01 4.02 3.84 3.60 US 2.10 2.40 2.82 3.06 3.21 3.20 3.18 3.06 Mexico 5.03 5.43 5.49 5.51 5.56 5.51 5.23 4.80 South America 9.05 9.14 9.09 8.33 8.02 6.08 6.48 7.03 Brazil 8.98 8.83 9.07 8.12 7.71 7.54 7.78 7.80 Chile 4.62 4.87 4.67 4.34 3.63 3.29 2.98 2.73 Argentina 29.55 36.13 43.24 46.36 38.49 17.90 11.61 10.44

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

17 Efficiency ratio (%) Q1'23 H1'23 9M'23 2023 Q1'24 H1'24 9M'24 2024 Retail & Commercial Banking 45.0 44.3 43.5 43.1 41.1 39.5 39.3 39.7 Digital Consumer Bank 43.0 43.3 42.6 42.8 41.2 40.6 40.7 40.1 Corporate & Investment Banking 37.0 38.2 40.8 45.0 42.0 43.4 44.4 45.6 Wealth Management & Insurance 38.4 36.7 36.3 37.9 34.4 34.4 34.2 35.9 Payments 44.8 46.4 45.0 44.2 48.1 46.9 46.3 45.0 PagoNxt 113.9 109.9 100.5 95.7 107.5 103.0 99.4 93.6 Cards 29.1 30.6 30.6 30.1 32.3 31.4 31.0 30.8 TOTAL GROUP 44.1 44.2 44.0 44.1 42.6 41.6 41.7 41.8 Q1'23 H1'23 9M'23 2023 Q1'24 H1'24 9M'24 2024 Europe 41.9 41.9 41.1 42.1 39.7 39.3 39.4 40.0 Spain 39.8 39.9 40.1 41.7 34.2 34.1 34.7 35.7 United Kingdom 49.3 49.4 48.2 49.7 58.4 57.7 56.0 55.9 Portugal 32.6 32.1 28.7 27.3 22.9 23.4 24.6 26.1 Poland 27.1 26.8 26.5 27.1 27.5 27.2 27.3 27.1 Digital Consumer Bank Europe 49.1 49.4 48.3 47.6 47.1 46.2 46.5 45.9 North America 47.7 47.7 48.0 49.1 47.7 47.6 47.8 48.2 US 49.9 49.6 49.9 51.0 50.3 50.5 50.4 50.5 Mexico 41.6 42.1 42.7 43.9 41.4 41.4 41.9 42.5 South America 39.1 39.1 39.1 38.5 37.4 35.4 35.1 35.1 Brazil 35.3 35.1 34.8 34.6 33.0 32.4 32.0 32.1 Chile 41.9 42.4 45.5 44.6 42.5 39.2 37.4 36.0 Argentina 49.8 50.7 49.7 50.2 51.4 40.6 42.1 41.1

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

19 Stage coverage 1) Exposure subject to impairment in EUR bn. Additionally, customer loans not subject to impairment recorded at mark to market with changes through P&L (EUR 17 bn in March 2023, EUR 18 bn in June 2023, EUR 20 bn in September 2023, EUR 19 bn in December 2023, EUR 25 bn in March 2024, EUR 26 bn in June 2024, EUR 39 bn in September 2024 and EUR 32 bn in December 2024). Exposure ¹ Coverage Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Stage 1 1,005 1,011 1,002 1,000 1,007 1,008 1,008 1,002 0.4% 0.4% 0.4% 0.4% 0.4% 0.4% 0.4% 0.4% Stage 2 72 75 77 80 83 94 87 88 7.4% 7.2% 7.0% 6.4% 6.3% 5.6% 5.7% 5.6% Stage 3 34 35 36 36 36 35 36 35 40.1% 41.0% 40.4% 40.6% 40.5% 41.2% 40.1% 40.6%

20 NPL ratio (%) Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Retail & Commercial Banking 3.19 3.22 3.18 3.21 3.24 3.15 3.28 3.18 Digital Consumer Bank 4.04 4.18 4.65 4.75 4.86 4.81 4.87 5.07 Corporate & Investment Banking 1.42 1.38 1.37 1.36 1.14 1.05 0.88 0.86 Wealth Management & Insurance 0.83 0.82 0.82 1.40 0.64 0.77 0.69 0.67 Payments 4.98 5.13 5.06 5.02 4.85 5.00 5.52 5.14 PagoNxt * N/A N/A N/A N/A N/A N/A N/A N/A Cards 5.03 5.17 5.13 5.11 4.98 5.03 5.62 5.25 TOTAL GROUP 3.05 3.07 3.13 3.14 3.10 3.02 3.06 3.05 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Europe 2.35 2.35 2.32 2.32 2.32 2.25 2.25 2.15 Spain 3.19 3.11 3.06 3.06 3.00 2.91 2.80 2.68 United Kingdom 1.27 1.32 1.42 1.42 1.48 1.46 1.44 1.33 Portugal 3.05 3.09 2.48 2.59 2.63 2.42 2.47 2.40 Poland 3.66 3.74 3.63 3.55 3.57 3.40 3.91 3.66 Digital Consumer Bank Europe 2.05 2.04 2.08 2.12 2.27 2.31 2.44 2.50 North America 2.95 3.23 3.83 4.09 4.07 3.93 3.98 4.22 US 3.13 3.46 4.24 4.57 4.60 4.33 4.40 4.72 Mexico 2.39 2.60 2.72 2.82 2.74 2.78 2.70 2.71 South America 5.99 5.88 5.71 5.72 5.37 5.30 5.55 5.42 Brazil 7.34 7.00 6.71 6.56 6.06 5.96 6.25 6.14 Chile 4.75 4.95 4.90 5.01 4.95 5.12 5.33 5.37 Argentina 2.08 1.92 1.91 1.99 1.84 1.51 1.79 2.06 (*).- PagoNxt's NPL ratio is not provided as we do not consider it a relevant metric for this type of business.

21 NPL coverage ratio (%) Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Retail & Commercial Banking 62.7 63.2 63.5 61.4 60.0 60.4 57.7 58.4 Digital Consumer Bank 91.2 87.9 79.4 76.5 76.1 75.9 74.7 73.6 Corporate & Investment Banking 35.3 36.8 35.4 41.2 46.2 45.0 36.0 39.3 Wealth Management & Insurance 62.3 53.2 54.2 29.3 61.6 64.6 73.1 80.3 Payments 143.6 142.1 143.9 139.8 144.8 149.5 133.1 140.1 PagoNxt * N/A N/A N/A N/A N/A N/A N/A N/A Cards 145.0 143.6 146.0 142.1 147.5 151.7 134.6 141.9 TOTAL GROUP 67.9 68.4 67.5 65.9 66.1 66.5 63.6 64.8 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Europe 51.0 51.1 51.1 49.3 49.1 49.1 48.3 50.2 Spain 49.9 50.7 51.2 49.1 49.8 50.1 50.0 52.6 United Kingdom 33.1 32.0 31.9 30.3 28.3 28.5 28.4 29.3 Portugal 80.3 81.8 84.6 82.7 80.9 79.9 78.1 79.4 Poland 75.2 74.0 76.5 73.3 74.9 75.1 66.3 61.9 Digital Consumer Bank Europe 93.5 94.5 92.2 88.0 86.1 85.4 83.3 82.5 North America 94.9 90.0 78.8 73.8 74.2 74.3 71.3 69.7 US 91.5 85.6 73.1 67.7 67.8 67.9 64.5 63.8 Mexico 108.5 106.3 102.7 100.0 100.7 102.5 104.0 100.4 South America 76.3 77.8 78.0 78.4 80.4 81.5 75.5 76.5 Brazil 79.5 82.7 83.0 84.7 86.8 90.4 82.1 82.7 Chile 59.2 56.2 55.6 52.7 54.2 53.1 51.8 49.9 Argentina 169.4 163.1 158.3 165.7 147.3 145.2 161.0 177.1 (*).- PagoNxt’s coverage ratio is not provided as we do not consider it a relevant metric for this type of business.

22 Loan-loss allowancesCredit impaired loans Credit impaired loans and loan-loss allowances. Retail, 58.5%DCB, 31.4% CIB, 5.9% Wealth, 0.5% Payments, 3.6% Retail, 52.5% DCB, 35.5% CIB, 3.6% Wealth, 0.6% Payments, 7.8% Spain, 17.7% United Kingdom, 4.3% Portugal, 3.5% Poland, 4.5% Other Europe, 0.4% DCB Europe, 12.8% US, 19.6% Mexico, 6.0% Brazil, 23.3% Chile, 5.3% Argentina, 1.3% Other South America, 1.3% Spain, 21.9% United Kingdom, 9.4% Portugal, 2.8% Poland, 4.7% Other Europe, 0.5%DCB Europe, 10.1% US, 20.1% Mexico, 3.9% Brazil, 18.4% Chile, 6.8% Argentina, 0.5% Other South America, 0.9% Note: Percentages of total operating áreas, excluding Corporate Center.

23 Cost of risk (%) Note: Provisions to cover losses due to impairment of loans in the last 12 months / average customer loans and advances of the last 12 months. (*).- PagoNxt’s cost of risk is not provided as we do not consider it a relevant metric for this type of business. Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Retail & Commercial Banking 0.92 0.92 0.95 1.02 1.03 1.03 0.98 0.92 Digital Consumer Bank 1.81 1.86 2.01 2.04 2.12 2.17 2.12 2.16 Corporate & Investment Banking 0.16 0.18 0.15 0.10 0.14 0.15 0.21 0.10 Wealth Management & Insurance 0.09 (0.00) (0.05) (0.08) (0.05) 0.05 0.08 0.18 Payments 6.72 7.11 7.69 7.22 6.89 7.03 7.01 7.39 PagoNxt * N/A N/A N/A N/A N/A N/A N/A N/A Cards 6.89 7.27 7.68 7.44 7.10 7.24 7.24 7.64 TOTAL GROUP 1.05 1.08 1.13 1.18 1.20 1.21 1.18 1.15 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24 Dec-24 Europe 0.42 0.42 0.44 0.44 0.41 0.39 0.35 0.32 Spain 0.62 0.62 0.62 0.62 0.59 0.56 0.52 0.50 United Kingdom 0.12 0.11 0.12 0.10 0.08 0.08 0.05 0.03 Portugal 0.06 0.10 0.17 0.20 0.19 0.12 0.07 0.03 Poland 1.71 1.87 1.98 2.08 1.95 1.81 1.67 1.38 Digital Consumer Bank Europe 0.48 0.54 0.60 0.62 0.67 0.72 0.75 0.88 North America 1.62 1.70 1.91 2.05 2.15 2.23 2.15 2.04 US 1.52 1.57 1.77 1.92 1.98 2.06 1.94 1.82 Mexico 1.98 2.13 2.34 2.43 2.63 2.71 2.69 2.64 South America 3.39 3.32 3.30 3.36 3.44 3.50 3.55 3.50 Brazil 4.84 4.74 4.67 4.77 4.79 4.77 4.78 4.51 Chile 0.95 0.88 0.87 0.80 0.85 0.97 1.09 1.19 Argentina 2.97 3.46 4.09 6.64 5.43 4.80 4.88 4.59

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

25 GRUPO SANTANDER (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 10,185 10,735 11,219 11,122 11,983 11,474 11,225 11,986 +6.8% 43,261 46,668 +7.9% Net fee income 3,043 3,060 3,119 2,835 3,240 3,237 3,189 3,344 +4.9% 12,057 13,010 +7.9% Gains (losses) on financial transactions and other 707 504 523 595 157 959 721 696 -3.5% 2,329 2,533 +8.8% Total revenue 13,935 14,299 14,861 14,552 15,380 15,670 15,135 16,026 +5.9% 57,647 62,211 +7.9% Operating expenses (6,145) (6,334) (6,482) (6,464) (6,547) (6,366) (6,349) (6,772) +6.7% (25,425) (26,034) +2.4% Net operating income 7,790 7,965 8,379 8,088 8,833 9,304 8,786 9,254 +5.3% 32,222 36,177 +12.3% Net loan-loss provisions (2,873) (2,898) (3,266) (3,421) (3,125) (3,118) (2,976) (3,114) +4.6% (12,458) (12,333) -1.0% Other gains (losses) and provisions (822) (833) (666) (745) (1,125) (1,261) (891) (1,540) +72.8% (3,066) (4,817) +57.1% Profit before tax 4,095 4,234 4,447 3,922 4,583 4,925 4,919 4,600 -6.5% 16,698 19,027 +13.9% Consolidated profit 2,865 2,970 3,176 3,198 3,115 3,477 3,589 3,563 -0.7% 12,209 13,744 +12.6% Attributable profit 2,571 2,670 2,902 2,933 2,852 3,207 3,250 3,265 +0.5% 11,076 12,574 +13.5% Note: From Q2 2024 onwards for the Argentine peso, we apply an alternative exchange rate that better reflects the evolution of inflation (we continue to apply the official ARS exchange rate to all prior periods). For further information, see the 'Alternative performance measures' section in the appendix to the quarterly report.

26 GRUPO SANTANDER (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 10,157 10,580 10,992 10,878 11,727 11,301 11,425 12,215 +6.9% 42,607 46,668 +9.5% Net fee income 3,008 2,978 3,018 2,745 3,156 3,177 3,252 3,425 +5.3% 11,749 13,010 +10.7% Gains (losses) on financial transactions and other 689 481 506 582 153 953 728 698 -4.1% 2,259 2,533 +12.1% Total revenue 13,854 14,039 14,516 14,205 15,036 15,432 15,405 16,338 +6.1% 56,614 62,211 +9.9% Operating expenses (6,112) (6,238) (6,346) (6,340) (6,429) (6,281) (6,450) (6,874) +6.6% (25,035) (26,034) +4.0% Net operating income 7,743 7,801 8,171 7,866 8,607 9,151 8,955 9,464 +5.7% 31,579 36,177 +14.6% Net loan-loss provisions (2,829) (2,818) (3,154) (3,293) (3,016) (3,051) (3,057) (3,209) +5.0% (12,094) (12,333) +2.0% Other gains (losses) and provisions (826) (818) (651) (735) (1,110) (1,250) (903) (1,554) +72.0% (3,031) (4,817) +58.9% Profit before tax 4,088 4,164 4,365 3,837 4,481 4,850 4,995 4,701 -5.9% 16,454 19,027 +15.6% Consolidated profit 2,856 2,918 3,114 3,128 3,048 3,423 3,641 3,633 -0.2% 12,016 13,744 +14.4% Attributable profit 2,565 2,627 2,842 2,871 2,788 3,156 3,300 3,330 +0.9% 10,905 12,574 +15.3% Note: Variations in constant euros include Argentina in current euros to mitigate distortions from a hyperinflationary economy. Additionally, from Q2 2024 onwards for the Argentine peso, we apply an alternative exchange rate that better reflects the evolution of inflation (we continue to apply the official ARS exchange rate to all prior periods). For further information, see the 'Alternative performance measures' section in the appendix to the quarterly report.

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

28 Retail & Commercial Banking (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 5,931 6,470 6,705 6,445 7,145 6,870 6,803 7,125 +4.7% 25,550 27,942 +9.4% Net fee income 1,074 1,212 1,196 1,015 1,193 1,173 1,149 1,166 +1.5% 4,497 4,681 +4.1% Gains (losses) on financial transactions and other (85) (209) 74 (72) (289) 183 (6) (49) +663.7% (293) (162) -44.7% Total revenue 6,919 7,473 7,975 7,388 8,048 8,226 7,945 8,242 +3.7% 29,754 32,461 +9.1% Operating expenses (3,111) (3,263) (3,361) (3,089) (3,304) (3,119) (3,102) (3,352) +8.1% (12,825) (12,877) +0.4% Net operating income 3,809 4,209 4,613 4,298 4,744 5,107 4,844 4,890 +1.0% 16,930 19,584 +15.7% Net loan-loss provisions (1,512) (1,599) (1,698) (1,730) (1,523) (1,564) (1,369) (1,388) +1.4% (6,540) (5,845) -10.6% Other gains (losses) and provisions (566) (702) (513) (619) (844) (733) (484) (804) +66.0% (2,401) (2,865) +19.4% Profit before tax 1,731 1,908 2,402 1,949 2,376 2,810 2,990 2,697 -9.8% 7,989 10,874 +36.1% Consolidated profit 1,290 1,325 1,820 1,627 1,597 1,945 2,179 2,062 -5.4% 6,062 7,783 +28.4% Attributable profit 1,196 1,226 1,706 1,532 1,503 1,824 2,005 1,932 -3.7% 5,659 7,263 +28.3% Note: From Q2 2024 onwards for the Argentine peso, we apply an alternative exchange rate that better reflects the evolution of inflation (we continue to apply the official ARS exchange rate to all prior periods). For further information, see the 'Alternative performance measures' section in the appendix to the quarterly report.

29 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 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 5,945 6,370 6,558 6,301 6,977 6,763 6,918 7,284 +5.3% 25,174 27,942 +11.0% Net fee income 1,061 1,173 1,150 976 1,153 1,145 1,176 1,206 +2.6% 4,361 4,681 +7.3% Gains (losses) on financial transactions and other (87) (207) 77 (74) (285) 179 (4) (52) — (291) (162) -44.3% Total revenue 6,920 7,336 7,785 7,203 7,845 8,087 8,090 8,438 +4.3% 29,244 32,461 +11.0% Operating expenses (3,096) (3,192) (3,264) (3,007) (3,222) (3,065) (3,160) (3,429) +8.5% (12,558) (12,877) +2.5% Net operating income 3,824 4,144 4,522 4,196 4,623 5,022 4,930 5,009 +1.6% 16,686 19,584 +17.4% Net loan-loss provisions (1,490) (1,544) (1,622) (1,652) (1,455) (1,523) (1,414) (1,453) +2.8% (6,308) (5,845) -7.3% Other gains (losses) and provisions (571) (693) (501) (610) (831) (724) (494) (816) +65.1% (2,375) (2,865) +20.7% Profit before tax 1,763 1,908 2,399 1,934 2,337 2,775 3,022 2,740 -9.3% 8,003 10,874 +35.9% Consolidated profit 1,306 1,318 1,812 1,604 1,571 1,919 2,200 2,093 -4.9% 6,040 7,783 +28.9% Attributable profit 1,210 1,221 1,694 1,513 1,478 1,799 2,026 1,961 -3.2% 5,637 7,263 +28.8% Note: Variations in constant euros include Argentina in current euros to mitigate distortions from a hyperinflationary economy. Additionally, from Q2 2024 onwards for the Argentine peso, we apply an alternative exchange rate that better reflects the evolution of inflation (we continue to apply the official ARS exchange rate to all prior periods). For further information, see the 'Alternative performance measures' section in the appendix to the quarterly report.

30 Retail & Commercial Banking Spain (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 1,078 1,305 1,395 1,412 1,489 1,489 1,503 1,435 -4.5% 5,190 5,916 +14.0% Net fee income 291 290 255 260 282 275 269 244 -9.3% 1,096 1,071 -2.3% Total revenue 1,417 1,558 1,685 1,482 1,797 1,829 1,825 1,739 -4.7% 6,143 7,190 +17.0% Operating expenses (591) (596) (611) (606) (584) (576) (579) (617) +6.4% (2,403) (2,356) -1.9% Net loan-loss provisions (405) (369) (342) (322) (284) (287) (230) (292) +27.1% (1,437) (1,092) -24.0% Profit before tax 86 394 539 361 566 734 906 652 -28.1% 1,380 2,858 +107.1%

31 Retail & Commercial Banking UK (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 1,219 1,232 1,275 1,164 1,119 1,128 1,189 1,236 +4.0% 4,889 4,672 -4.4% Net fee income 9 0 14 (4) 3 (13) 2 (12) — 20 (21) — Total revenue 1,230 1,238 1,333 1,140 1,114 1,114 1,197 1,204 +0.6% 4,941 4,630 -6.3% Operating expenses (598) (611) (606) (637) (653) (645) (636) (678) +6.6% (2,451) (2,612) +6.6% Net loan-loss provisions (45) (17) (107) (17) (9) (11) (17) 23 — (186) (14) -92.6% Profit before tax 505 544 537 326 368 400 450 382 -15.1% 1,912 1,601 -16.3%

32 Retail & Commercial Banking UK (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 1,272 1,265 1,294 1,191 1,132 1,137 1,187 1,216 +2.5% 5,023 4,672 -7.0% Net fee income 9 0 15 (4) 3 (13) 2 (12) — 20 (21) — Total revenue 1,283 1,272 1,355 1,167 1,127 1,123 1,195 1,184 -0.9% 5,077 4,630 -8.8% Operating expenses (624) (627) (615) (652) (661) (650) (635) (667) +5.1% (2,518) (2,612) +3.8% Net loan-loss provisions (47) (18) (110) (17) (9) (11) (17) 23 — (191) (14) -92.8% Profit before tax 527 559 545 333 372 404 450 375 -16.6% 1,964 1,601 -18.5%

33 Retail & Commercial Banking UK (GBP mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 1,077 1,071 1,096 1,008 958 963 1,004 1,029 +2.5% 4,252 3,955 -7.0% Net fee income 8 0 12 (3) 3 (11) 1 (10) — 17 (17) — Total revenue 1,086 1,076 1,147 988 954 951 1,012 1,002 -0.9% 4,297 3,919 -8.8% Operating expenses (528) (531) (521) (552) (559) (550) (537) (565) +5.1% (2,131) (2,211) +3.8% Net loan-loss provisions (40) (15) (93) (14) (8) (9) (14) 20 — (162) (12) -92.8% Profit before tax 446 473 461 282 315 342 381 318 -16.6% 1,662 1,355 -18.5%

34 Retail & Commercial Banking Mexico (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 706 780 830 787 814 799 741 763 +2.9% 3,103 3,116 +0.4% Net fee income 135 164 165 145 156 181 159 147 -7.4% 608 643 +5.8% Total revenue 807 898 949 925 946 992 880 910 +3.4% 3,579 3,728 +4.2% Operating expenses (349) (418) (466) (523) (433) (440) (418) (468) +12.0% (1,756) (1,758) +0.1% Net loan-loss provisions (131) (150) (171) (146) (205) (211) (141) (97) -31.3% (597) (653) +9.4% Profit before tax 314 321 303 248 299 330 312 335 +7.4% 1,185 1,277 +7.7%

35 Retail & Commercial Banking Mexico (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 716 762 782 754 761 751 780 824 +5.6% 3,014 3,116 +3.4% Net fee income 137 160 155 139 146 170 167 160 -4.1% 591 643 +8.9% Total revenue 819 877 894 886 885 933 927 984 +6.1% 3,476 3,728 +7.3% Operating expenses (354) (409) (440) (502) (405) (414) (439) (501) +14.3% (1,706) (1,758) +3.1% Net loan-loss provisions (133) (146) (161) (140) (192) (198) (152) (111) -26.9% (580) (653) +12.6% Profit before tax 319 313 283 236 280 310 327 360 +10.0% 1,151 1,277 +10.9%

36 Retail & Commercial Banking Mexico (MXN mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 14,129 15,023 15,431 14,866 15,005 14,817 15,386 16,252 +5.6% 59,449 61,460 +3.4% Net fee income 2,694 3,156 3,058 2,743 2,886 3,358 3,289 3,152 -4.1% 11,651 12,685 +8.9% Total revenue 16,146 17,298 17,642 17,470 17,445 18,397 18,290 19,403 +6.1% 68,556 73,535 +7.3% Operating expenses (6,989) (8,073) (8,681) (9,908) (7,983) (8,158) (8,649) (9,890) +14.3% (33,650) (34,681) +3.1% Net loan-loss provisions (2,617) (2,889) (3,184) (2,755) (3,781) (3,904) (3,007) (2,197) -26.9% (11,446) (12,889) +12.6% Profit before tax 6,283 6,172 5,589 4,661 5,519 6,120 6,449 7,096 +10.0% 22,704 25,183 +10.9%

37 Retail & Commercial Banking Brazil (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 1,492 1,569 1,596 1,594 1,753 1,734 1,685 1,590 -5.6% 6,251 6,762 +8.2% Net fee income 298 394 417 404 401 413 381 357 -6.2% 1,513 1,553 +2.6% Total revenue 1,713 1,865 2,031 2,025 2,113 2,177 1,969 1,946 -1.2% 7,633 8,205 +7.5% Operating expenses (790) (823) (828) (867) (843) (799) (746) (763) +2.2% (3,309) (3,152) -4.7% Net loan-loss provisions (646) (748) (799) (893) (753) (751) (740) (730) -1.3% (3,086) (2,973) -3.7% Profit before tax 188 39 210 51 332 405 313 287 -8.5% 488 1,337 +173.9%

38 Retail & Commercial Banking Brazil (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 1,432 1,456 1,459 1,462 1,621 1,673 1,763 1,704 -3.4% 5,808 6,762 +16.4% Net fee income 286 367 382 371 371 399 399 383 -4.0% 1,406 1,553 +10.4% Total revenue 1,643 1,731 1,859 1,859 1,955 2,099 2,068 2,083 +0.8% 7,092 8,205 +15.7% Operating expenses (757) (764) (757) (796) (780) (772) (784) (816) +4.0% (3,074) (3,152) +2.5% Net loan-loss provisions (620) (695) (732) (821) (697) (724) (773) (779) +0.8% (2,867) (2,973) +3.7% Profit before tax 180 34 194 46 308 389 331 310 -6.4% 454 1,337 +194.8%

39 Retail & Commercial Banking Brazil (BRL mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 8,316 8,455 8,473 8,494 9,419 9,720 10,242 9,898 -3.4% 33,739 39,278 +16.4% Net fee income 1,663 2,132 2,217 2,155 2,157 2,317 2,320 2,227 -4.0% 8,168 9,020 +10.4% Total revenue 9,544 10,054 10,799 10,798 11,355 12,195 12,011 12,103 +0.8% 41,196 47,663 +15.7% Operating expenses (4,400) (4,437) (4,397) (4,625) (4,532) (4,485) (4,555) (4,737) +4.0% (17,859) (18,309) +2.5% Net loan-loss provisions (3,599) (4,039) (4,252) (4,768) (4,049) (4,208) (4,490) (4,526) +0.8% (16,657) (17,273) +3.7% Profit before tax 1,046 197 1,125 268 1,787 2,262 1,921 1,799 -6.4% 2,636 7,769 +194.8%

40 Digital Consumer Bank (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 2,546 2,477 2,600 2,598 2,710 2,655 2,614 2,798 +7.1% 10,221 10,777 +5.4% Net fee income 288 295 316 330 354 387 373 394 +5.5% 1,229 1,508 +22.7% Gains (losses) on financial transactions and other 227 193 199 228 120 222 148 140 -5.4% 846 631 -25.4% Total revenue 3,061 2,965 3,115 3,155 3,185 3,264 3,135 3,332 +6.3% 12,296 12,916 +5.0% Operating expenses (1,317) (1,291) (1,284) (1,371) (1,311) (1,307) (1,278) (1,287) +0.7% (5,263) (5,183) -1.5% Net operating income 1,744 1,675 1,831 1,784 1,874 1,957 1,857 2,045 +10.1% 7,033 7,733 +10.0% Net loan-loss provisions (916) (887) (1,177) (1,126) (1,137) (1,055) (1,121) (1,248) +11.3% (4,106) (4,562) +11.1% Other gains (losses) and provisions (71) (39) (78) (60) (118) (180) (112) (530) +375.0% (250) (939) +276.0% Profit before tax 756 748 576 597 619 722 624 267 -57.2% 2,677 2,232 -16.6% Consolidated profit 587 635 489 540 537 668 508 225 -55.8% 2,251 1,938 -13.9% Attributable profit 488 539 417 457 464 606 437 155 -64.5% 1,901 1,663 -12.5% Note: From Q2 2024 onwards for the Argentine peso, we apply an alternative exchange rate that better reflects the evolution of inflation (we continue to apply the official ARS exchange rate to all prior periods). For further information, see the 'Alternative performance measures' section in the appendix to the quarterly report.

41 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 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 2,525 2,472 2,585 2,571 2,689 2,637 2,647 2,804 +5.9% 10,153 10,777 +6.1% Net fee income 287 294 313 325 350 383 377 397 +5.3% 1,218 1,508 +23.8% Gains (losses) on financial transactions and other 227 194 201 228 121 222 150 138 -7.6% 849 631 -25.6% Total revenue 3,039 2,959 3,099 3,123 3,160 3,242 3,174 3,340 +5.2% 12,220 12,916 +5.7% Operating expenses (1,310) (1,291) (1,281) (1,364) (1,307) (1,300) (1,291) (1,285) -0.5% (5,246) (5,183) -1.2% Net operating income 1,729 1,667 1,818 1,760 1,853 1,942 1,883 2,055 +9.1% 6,974 7,733 +10.9% Net loan-loss provisions (906) (881) (1,164) (1,108) (1,123) (1,046) (1,140) (1,252) +9.8% (4,059) (4,562) +12.4% Other gains (losses) and provisions (72) (37) (77) (60) (117) (179) (113) (531) +370.8% (245) (939) +283.0% Profit before tax 751 749 577 591 613 717 630 272 -56.9% 2,669 2,232 -16.4% Consolidated profit 584 636 490 533 533 665 514 226 -56.0% 2,244 1,938 -13.6% Attributable profit 485 541 418 451 461 603 443 156 -64.7% 1,895 1,663 -12.3% Note: Variations in constant euros include Argentina in current euros to mitigate distortions from a hyperinflationary economy. Additionally, from Q2 2024 onwards for the Argentine peso, we apply an alternative exchange rate that better reflects the evolution of inflation (we continue to apply the official ARS exchange rate to all prior periods). For further information, see the 'Alternative performance measures' section in the appendix to the quarterly report.

42 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 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 1,029 1,011 1,069 1,083 1,095 1,092 1,069 1,105 +3.4% 4,193 4,361 +4.0% Net fee income 191 203 210 192 220 231 229 222 -3.1% 796 902 +13.4% Total revenue 1,343 1,315 1,411 1,433 1,410 1,444 1,398 1,427 +2.1% 5,502 5,679 +3.2% Operating expenses (659) (655) (652) (652) (665) (655) (656) (629) -4.2% (2,618) (2,604) -0.5% Net loan-loss provisions (193) (222) (225) (152) (276) (308) (279) (345) +23.6% (792) (1,209) +52.6% Profit before tax 447 481 509 582 401 356 402 (28) — 2,019 1,131 -44.0%

43 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 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 1,030 1,016 1,070 1,087 1,093 1,092 1,070 1,106 +3.4% 4,203 4,361 +3.8% Net fee income 191 204 211 192 220 231 229 222 -3.1% 798 902 +13.1% Total revenue 1,345 1,321 1,414 1,437 1,408 1,443 1,400 1,428 +2.0% 5,517 5,679 +2.9% Operating expenses (659) (657) (653) (653) (664) (654) (657) (629) -4.3% (2,622) (2,604) -0.7% Net loan-loss provisions (193) (226) (225) (152) (275) (309) (280) (346) +23.6% (796) (1,209) +51.9% Profit before tax 449 480 511 583 400 356 402 (28) — 2,023 1,131 -44.1%

44 Digital Consumer Bank US (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 1,173 1,145 1,140 1,142 1,143 1,179 1,138 1,191 +4.7% 4,599 4,651 +1.1% Net fee income 62 56 55 63 64 67 75 97 +28.8% 237 303 +28.1% Total revenue 1,357 1,320 1,351 1,340 1,304 1,352 1,279 1,361 +6.4% 5,367 5,297 -1.3% Operating expenses (606) (577) (565) (541) (545) (547) (525) (542) +3.2% (2,289) (2,159) -5.7% Net loan-loss provisions (563) (419) (725) (784) (610) (537) (641) (677) +5.5% (2,490) (2,466) -1.0% Profit before tax 187 279 41 19 121 235 85 111 +30.5% 525 551 +4.9%

45 Digital Consumer Bank US (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 1,163 1,151 1,146 1,135 1,147 1,174 1,156 1,175 +1.6% 4,596 4,651 +1.2% Net fee income 61 57 56 63 65 67 76 96 +25.7% 236 303 +28.1% Total revenue 1,346 1,328 1,358 1,332 1,309 1,346 1,300 1,343 +3.3% 5,364 5,297 -1.2% Operating expenses (601) (580) (569) (538) (547) (545) (534) (534) +0.1% (2,288) (2,159) -5.6% Net loan-loss provisions (558) (423) (728) (780) (612) (534) (651) (668) +2.7% (2,489) (2,466) -0.9% Profit before tax 186 280 42 18 121 234 87 109 +24.6% 525 551 +5.0%

46 Digital Consumer Bank US (USD mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 1,258 1,246 1,240 1,228 1,240 1,270 1,250 1,271 +1.6% 4,972 5,031 +1.2% Net fee income 66 61 60 68 70 72 82 103 +25.7% 256 328 +28.1% Total revenue 1,456 1,436 1,469 1,441 1,416 1,456 1,406 1,452 +3.3% 5,802 5,730 -1.2% Operating expenses (650) (628) (615) (582) (591) (589) (577) (578) +0.1% (2,475) (2,335) -5.6% Net loan-loss provisions (603) (457) (787) (844) (662) (578) (704) (723) +2.7% (2,692) (2,667) -0.9% Profit before tax 201 303 45 19 131 253 94 117 +24.6% 568 596 +5.0%

47 Corporate & Investment Banking (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 844 826 888 1,037 1,062 969 901 1,088 +20.7% 3,594 4,020 +11.9% Net fee income 606 536 517 471 654 626 612 657 +7.2% 2,131 2,548 +19.6% Gains (losses) on financial transactions and other 554 590 463 196 397 481 559 338 -39.4% 1,802 1,775 -1.5% Total revenue 2,004 1,952 1,867 1,703 2,112 2,076 2,072 2,083 +0.5% 7,527 8,343 +10.8% Operating expenses (741) (771) (865) (1,010) (888) (930) (965) (1,024) +6.1% (3,387) (3,807) +12.4% Net operating income 1,263 1,181 1,003 694 1,225 1,146 1,107 1,059 -4.4% 4,140 4,537 +9.6% Net loan-loss provisions 24 (31) 49 (206) (40) (56) (61) (17) -73.1% (165) (174) +5.7% Other gains (losses) and provisions (104) (28) (28) (21) (78) (46) (100) (129) +28.9% (181) (353) +95.3% Profit before tax 1,183 1,122 1,023 466 1,107 1,044 946 913 -3.4% 3,795 4,009 +5.7% Consolidated profit 807 800 717 334 760 746 682 756 +10.9% 2,658 2,944 +10.8% Attributable profit 742 736 667 295 705 700 633 701 +10.7% 2,440 2,740 +12.3% Note: From Q2 2024 onwards for the Argentine peso, we apply an alternative exchange rate that better reflects the evolution of inflation (we continue to apply the official ARS exchange rate to all prior periods). For further information, see the 'Alternative performance measures' section in the appendix to the quarterly report.

48 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 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 833 807 862 1,002 1,033 948 925 1,115 +20.5% 3,503 4,020 +14.8% Net fee income 603 527 507 461 645 619 621 663 +6.8% 2,099 2,548 +21.4% Gains (losses) on financial transactions and other 540 567 447 190 391 482 560 341 -39.1% 1,744 1,775 +1.8% Total revenue 1,977 1,901 1,815 1,653 2,069 2,049 2,106 2,119 +0.6% 7,346 8,343 +13.6% Operating expenses (736) (762) (852) (996) (876) (919) (978) (1,033) +5.5% (3,345) (3,807) +13.8% Net operating income 1,240 1,139 964 658 1,193 1,130 1,128 1,087 -3.6% 4,001 4,537 +13.4% Net loan-loss provisions 22 (32) 42 (194) (40) (55) (62) (17) -72.7% (162) (174) +7.3% Other gains (losses) and provisions (101) (27) (27) (21) (78) (46) (101) (129) +28.1% (176) (353) +100.1% Profit before tax 1,161 1,080 978 443 1,076 1,029 965 940 -2.5% 3,662 4,009 +9.5% Consolidated profit 794 772 687 319 740 736 693 775 +11.7% 2,573 2,944 +14.4% Attributable profit 732 713 640 281 687 690 645 718 +11.5% 2,366 2,740 +15.8% Note: Variations in constant euros include Argentina in current euros to mitigate distortions from a hyperinflationary economy. Additionally, from Q2 2024 onwards for the Argentine peso, we apply an alternative exchange rate that better reflects the evolution of inflation (we continue to apply the official ARS exchange rate to all prior periods). For further information, see the 'Alternative performance measures' section in the appendix to the quarterly report.

49 Wealth Management & Insurance (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 334 392 409 377 423 404 406 394 -3.1% 1,513 1,627 +7.6% Net fee income 308 317 318 319 364 355 366 405 +10.8% 1,262 1,489 +18.0% Gains (losses) on financial transactions and other 116 121 110 88 105 138 157 144 -8.1% 436 545 +25.1% Total revenue 758 830 838 784 892 897 929 944 +1.5% 3,210 3,661 +14.0% Operating expenses (291) (293) (297) (335) (306) (309) (315) (383) +21.4% (1,216) (1,313) +8.0% Net operating income 467 538 540 449 585 588 614 561 -8.6% 1,994 2,348 +17.7% Net loan-loss provisions 1 14 (3) 5 (4) (10) (11) (17) +55.5% 17 (41) — Other gains (losses) and provisions (24) (11) 0 17 (24) (5) (3) (15) +459.1% (18) (48) +170.8% Profit before tax 444 541 537 471 557 573 600 529 -11.9% 1,994 2,259 +13.3% Consolidated profit 335 415 412 378 420 436 468 404 -13.6% 1,540 1,728 +12.2% Attributable profit 316 395 397 358 400 417 448 384 -14.2% 1,467 1,650 +12.5% Note: From Q2 2024 onwards for the Argentine peso, we apply an alternative exchange rate that better reflects the evolution of inflation (we continue to apply the official ARS exchange rate to all prior periods). For further information, see the 'Alternative performance measures' section in the appendix to the quarterly report.

50 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 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 334 390 406 374 420 401 410 396 -3.4% 1,505 1,627 +8.2% Net fee income 307 314 313 315 360 351 370 409 +10.5% 1,249 1,489 +19.2% Gains (losses) on financial transactions and other 114 117 105 83 101 135 160 149 -6.8% 419 545 +30.1% Total revenue 755 821 824 772 881 887 939 954 +1.5% 3,172 3,661 +15.4% Operating expenses (289) (290) (294) (330) (303) (306) (319) (385) +20.7% (1,203) (1,313) +9.2% Net operating income 465 532 530 442 578 581 620 568 -8.3% 1,969 2,348 +19.3% Net loan-loss provisions 1 14 (3) 5 (4) (10) (11) (17) +57.4% 17 (41) — Other gains (losses) and provisions (24) (11) 1 17 (24) (5) (3) (15) +455.0% (18) (48) +170.3% Profit before tax 442 535 528 464 550 566 606 536 -11.6% 1,968 2,259 +14.8% Consolidated profit 334 409 404 372 414 431 473 410 -13.1% 1,518 1,728 +13.8% Attributable profit 315 390 390 353 395 412 452 390 -13.8% 1,448 1,650 +13.9% Note: Variations in constant euros include Argentina in current euros to mitigate distortions from a hyperinflationary economy. Additionally, from Q2 2024 onwards for the Argentine peso, we apply an alternative exchange rate that better reflects the evolution of inflation (we continue to apply the official ARS exchange rate to all prior periods). For further information, see the 'Alternative performance measures' section in the appendix to the quarterly report.

51 Payments (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 582 611 649 582 675 645 596 694 +16.4% 2,424 2,609 +7.6% Net fee income 770 703 772 708 676 695 698 725 +3.8% 2,952 2,793 -5.4% Gains (losses) on financial transactions and other (36) (17) (44) 19 2 8 13 79 +505.6% (78) 102 — Total revenue 1,316 1,297 1,376 1,309 1,353 1,347 1,307 1,497 +14.6% 5,298 5,505 +3.9% Operating expenses (589) (623) (581) (550) (650) (615) (588) (621) +5.6% (2,344) (2,475) +5.6% Net operating income 726 674 795 759 703 732 719 876 +21.9% 2,954 3,030 +2.6% Net loan-loss provisions (471) (397) (435) (363) (418) (434) (414) (448) +8.2% (1,666) (1,714) +2.9% Other gains (losses) and provisions (14) (21) (18) (31) (20) (257) (32) (37) +15.7% (84) (347) +314.3% Profit before tax 241 256 342 365 265 41 272 391 +43.5% 1,205 969 -19.6% Consolidated profit 124 137 202 233 159 (68) 156 259 +65.8% 696 505 -27.4% Attributable profit 107 116 179 204 137 (89) 129 235 +82.1% 607 413 -31.9% Note: From Q2 2024 onwards for the Argentine peso, we apply an alternative exchange rate that better reflects the evolution of inflation (we continue to apply the official ARS exchange rate to all prior periods). For further information, see the 'Alternative performance measures' section in the appendix to the quarterly report.

52 Payments (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 571 584 611 547 639 621 620 730 +17.7% 2,312 2,609 +12.9% Net fee income 753 673 733 676 649 677 716 752 +5.0% 2,835 2,793 -1.5% Gains (losses) on financial transactions and other (35) (17) (43) 19 3 9 12 78 +529.9% (77) 102 — Total revenue 1,289 1,239 1,301 1,242 1,290 1,307 1,348 1,559 +15.6% 5,070 5,505 +8.6% Operating expenses (586) (609) (562) (535) (634) (604) (600) (638) +6.3% (2,291) (2,475) +8.0% Net operating income 703 630 739 707 656 703 749 922 +23.1% 2,779 3,030 +9.0% Net loan-loss provisions (459) (376) (406) (343) (393) (417) (431) (474) +10.0% (1,584) (1,714) +8.2% Other gains (losses) and provisions (14) (21) (17) (31) (19) (257) (33) (38) +15.9% (82) (347) +320.1% Profit before tax 231 233 316 333 244 29 285 410 +43.8% 1,113 969 -12.9% Consolidated profit 117 123 186 213 146 (76) 164 271 +64.8% 639 505 -20.8% Attributable profit 101 104 165 186 125 (96) 137 246 +79.9% 556 413 -25.7% Note: Variations in constant euros include Argentina in current euros to mitigate distortions from a hyperinflationary economy. Additionally, from Q2 2024 onwards for the Argentine peso, we apply an alternative exchange rate that better reflects the evolution of inflation (we continue to apply the official ARS exchange rate to all prior periods). For further information, see the 'Alternative performance measures' section in the appendix to the quarterly report.

53 PagoNxt (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 9 22 24 38 31 31 35 35 +0.5% 93 132 +41.0% Net fee income 218 228 255 253 224 233 241 261 +8.4% 954 958 +0.5% Gains (losses) on financial transactions and other 16 27 19 30 29 36 35 50 +41.6% 93 150 +61.4% Total revenue 244 277 298 321 283 300 311 346 +11.3% 1,140 1,240 +8.7% Operating expenses (278) (295) (251) (268) (304) (297) (288) (271) -6.0% (1,091) (1,160) +6.3% Net operating income (34) (18) 48 53 (21) 4 23 75 +231.0% 49 80 +62.7% Net loan-loss provisions (6) (6) (10) (1) (4) (5) (3) (4) +9.1% (24) (16) -32.5% Other gains (losses) and provisions (2) (10) (6) (23) (2) (256) (15) (23) +54.1% (42) (296) +611.6% Profit before tax (43) (34) 31 29 (27) (258) 4 48 +997.8% (17) (233) — Consolidated profit (57) (48) 6 23 (37) (265) (17) 28 — (76) (290) +281.8% Attributable profit (55) (48) 3 23 (39) (265) (21) 26 — (77) (299) +287.1% Note: From Q2 2024 onwards for the Argentine peso, we apply an alternative exchange rate that better reflects the evolution of inflation (we continue to apply the official ARS exchange rate to all prior periods). For further information, see the 'Alternative performance measures' section in the appendix to the quarterly report.

54 PagoNxt (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 9 21 23 36 29 30 36 37 +2.0% 89 132 +48.3% Net fee income 213 217 241 240 214 227 247 270 +9.4% 911 958 +5.2% Gains (losses) on financial transactions and other 16 27 19 30 29 36 35 50 +41.6% 92 150 +62.5% Total revenue 238 265 283 305 271 293 318 357 +12.1% 1,091 1,240 +13.6% Operating expenses (274) (288) (242) (261) (298) (293) (292) (277) -5.2% (1,066) (1,160) +8.8% Net operating income (36) (23) 40 44 (26) 0 26 80 +207.6% 26 80 +210.4% Net loan-loss provisions (6) (6) (10) (1) (4) (5) (4) (4) +9.4% (24) (16) -30.9% Other gains (losses) and provisions (2) (10) (6) (22) (2) (256) (15) (23) +55.2% (40) (296) +639.1% Profit before tax (44) (38) 24 20 (32) (261) 7 53 +605.1% (38) (233) +513.0% Consolidated profit (58) (51) 1 18 (40) (267) (14) 31 — (90) (290) +221.4% Attributable profit (56) (51) (2) 18 (42) (267) (19) 29 — (91) (299) +228.8% Note: Variations in constant euros include Argentina in current euros to mitigate distortions from a hyperinflationary economy. Additionally, from Q2 2024 onwards for the Argentine peso, we apply an alternative exchange rate that better reflects the evolution of inflation (we continue to apply the official ARS exchange rate to all prior periods). For further information, see the 'Alternative performance measures' section in the appendix to the quarterly report.

55 Cards (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 573 589 625 544 644 613 561 659 +17.4% 2,331 2,478 +6.3% Net fee income 551 475 517 456 452 462 457 464 +1.4% 1,998 1,835 -8.2% Gains (losses) on financial transactions and other (52) (44) (63) (11) (27) (28) (22) 30 — (171) (48) -72.1% Total revenue 1,072 1,020 1,078 988 1,070 1,047 996 1,152 +15.7% 4,158 4,265 +2.6% Operating expenses (312) (328) (331) (282) (346) (319) (300) (350) +16.8% (1,253) (1,315) +5.0% Net operating income 760 692 747 706 724 728 696 802 +15.2% 2,905 2,950 +1.5% Net loan-loss provisions (465) (391) (425) (361) (414) (428) (411) (444) +8.2% (1,642) (1,698) +3.4% Other gains (losses) and provisions (11) (11) (11) (8) (17) (0) (18) (15) -16.6% (42) (50) +19.2% Profit before tax 284 290 311 337 292 300 268 343 +27.9% 1,222 1,202 -1.6% Consolidated profit 181 185 196 210 196 196 173 230 +33.4% 772 795 +3.0% Attributable profit 162 164 177 181 177 176 150 209 +38.9% 684 712 +4.1% Note: From Q2 2024 onwards for the Argentine peso, we apply an alternative exchange rate that better reflects the evolution of inflation (we continue to apply the official ARS exchange rate to all prior periods). For further information, see the 'Alternative performance measures' section in the appendix to the quarterly report.

56 Cards (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 561 563 588 511 610 590 584 693 +18.6% 2,223 2,478 +11.4% Net fee income 540 456 492 436 435 451 469 481 +2.6% 1,925 1,835 -4.7% Gains (losses) on financial transactions and other (51) (44) (62) (11) (26) (27) (23) 28 — (169) (48) -71.8% Total revenue 1,050 974 1,018 936 1,018 1,014 1,030 1,202 +16.7% 3,979 4,265 +7.2% Operating expenses (312) (321) (319) (274) (336) (311) (307) (360) +17.2% (1,226) (1,315) +7.3% Net operating income 739 653 699 662 683 703 723 842 +16.5% 2,753 2,950 +7.1% Net loan-loss provisions (452) (370) (396) (341) (389) (412) (427) (470) +10.0% (1,560) (1,698) +8.8% Other gains (losses) and provisions (12) (11) (11) (8) (17) (0) (18) (15) -17.1% (42) (50) +18.2% Profit before tax 275 272 291 313 276 290 278 358 +28.7% 1,151 1,202 +4.5% Consolidated profit 176 174 185 195 186 190 179 240 +34.0% 729 795 +9.1% Attributable profit 158 154 167 168 168 171 156 217 +39.3% 647 712 +10.1% Note: Variations in constant euros include Argentina in current euros to mitigate distortions from a hyperinflationary economy. Additionally, from Q2 2024 onwards for the Argentine peso, we apply an alternative exchange rate that better reflects the evolution of inflation (we continue to apply the official ARS exchange rate to all prior periods). For further information, see the 'Alternative performance measures' section in the appendix to the quarterly report.

57 Corporate Centre (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income (52) (42) (30) 83 (31) (69) (95) (113) +19.0% (41) (308) +660.3% Net fee income (3) (3) 1 (8) (1) 2 (8) (3) -62.6% (13) (11) -20.6% Gains (losses) on financial transactions and other (69) (172) (279) 136 (178) (74) (150) 44 — (385) (357) -7.2% Total revenue (124) (218) (308) 212 (210) (140) (254) (72) -71.6% (439) (676) +54.1% Operating expenses (95) (95) (94) (108) (87) (86) (101) (104) +2.7% (391) (379) -3.1% Net operating income (219) (312) (402) 104 (297) (227) (355) (176) -50.4% (829) (1,055) +27.1% Net loan-loss provisions 3 1 (1) (1) (2) (0) 1 3 +182.3% 2 3 +25.6% Other gains (losses) and provisions (44) (30) (30) (30) (41) (40) (160) (25) -84.7% (134) (265) +97.7% Profit before tax (260) (341) (433) 73 (340) (266) (514) (197) -61.7% (961) (1,317) +37.0% Consolidated profit (279) (341) (464) 87 (357) (252) (403) (142) -64.7% (998) (1,155) +15.7% Attributable profit (279) (341) (464) 87 (357) (252) (403) (142) -64.7% (998) (1,154) +15.7%

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

59 Europe (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 3,597 3,968 4,222 4,123 4,123 4,165 4,205 4,227 +0.5% 15,910 16,720 +5.1% Net fee income 1,168 1,076 1,084 1,071 1,202 1,167 1,168 1,123 -3.9% 4,399 4,659 +5.9% Gains (losses) on financial transactions and other 406 249 458 17 484 578 573 497 -13.3% 1,130 2,131 +88.5% Total revenue 5,171 5,293 5,765 5,211 5,809 5,910 5,945 5,846 -1.7% 21,439 23,510 +9.7% Operating expenses (2,167) (2,215) (2,291) (2,357) (2,305) (2,297) (2,356) (2,450) +4.0% (9,030) (9,407) +4.2% Net operating income 3,004 3,078 3,474 2,854 3,504 3,612 3,589 3,397 -5.4% 12,409 14,102 +13.6% Net loan-loss provisions (642) (646) (662) (582) (484) (532) (427) (418) -2.0% (2,533) (1,862) -26.5% Other gains (losses) and provisions (516) (389) (361) (415) (582) (535) (360) (635) +76.5% (1,681) (2,111) +25.6% Profit before tax 1,846 2,042 2,451 1,856 2,438 2,545 2,802 2,343 -16.4% 8,195 10,129 +23.6% Consolidated profit 1,269 1,428 1,753 1,374 1,642 1,731 1,979 1,712 -13.4% 5,824 7,064 +21.3% Attributable profit 1,189 1,347 1,640 1,306 1,541 1,647 1,842 1,615 -12.3% 5,482 6,644 +21.2%

60 Europe (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 3,707 4,038 4,274 4,170 4,141 4,174 4,199 4,206 +0.2% 16,189 16,720 +3.3% Net fee income 1,185 1,086 1,092 1,076 1,204 1,167 1,168 1,121 -4.0% 4,440 4,659 +4.9% Gains (losses) on financial transactions and other 405 250 461 17 484 578 573 496 -13.4% 1,134 2,131 +88.0% Total revenue 5,297 5,374 5,828 5,263 5,829 5,918 5,940 5,823 -2.0% 21,762 23,510 +8.0% Operating expenses (2,214) (2,246) (2,311) (2,380) (2,315) (2,302) (2,354) (2,436) +3.5% (9,152) (9,407) +2.8% Net operating income 3,083 3,128 3,517 2,883 3,514 3,616 3,586 3,387 -5.6% 12,611 14,102 +11.8% Net loan-loss provisions (659) (659) (670) (589) (485) (533) (426) (418) -2.0% (2,576) (1,862) -27.7% Other gains (losses) and provisions (524) (395) (365) (422) (583) (535) (359) (633) +76.2% (1,706) (2,111) +23.7% Profit before tax 1,900 2,075 2,481 1,871 2,445 2,548 2,800 2,335 -16.6% 8,328 10,129 +21.6% Consolidated profit 1,309 1,452 1,776 1,384 1,647 1,733 1,977 1,707 -13.7% 5,921 7,064 +19.3% Attributable profit 1,221 1,367 1,657 1,316 1,546 1,649 1,841 1,609 -12.6% 5,561 6,644 +19.5%

61 Spain (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 1,460 1,701 1,741 1,738 1,816 1,840 1,799 1,802 +0.2% 6,641 7,256 +9.3% Net fee income 752 661 635 652 746 738 707 676 -4.4% 2,699 2,867 +6.2% Gains (losses) on financial transactions and other 335 204 302 (48) 455 471 477 448 -6.1% 792 1,850 +133.5% Total revenue 2,547 2,566 2,678 2,341 3,016 3,048 2,983 2,926 -1.9% 10,132 11,974 +18.2% Operating expenses (1,014) (1,025) (1,088) (1,100) (1,032) (1,033) (1,073) (1,133) +5.6% (4,227) (4,271) +1.0% Net operating income 1,533 1,540 1,591 1,241 1,984 2,015 1,911 1,793 -6.2% 5,905 7,703 +30.4% Net loan-loss provisions (415) (389) (377) (342) (331) (327) (279) (322) +15.2% (1,522) (1,259) -17.3% Other gains (losses) and provisions (379) (212) (201) (191) (417) (244) (119) (224) +87.9% (984) (1,003) +2.0% Profit before tax 739 940 1,013 707 1,236 1,445 1,512 1,247 -17.5% 3,399 5,440 +60.1% Consolidated profit 466 666 722 516 772 984 1,081 925 -14.4% 2,371 3,763 +58.7% Attributable profit 466 666 722 516 772 984 1,081 925 -14.4% 2,371 3,762 +58.7%

62 United Kingdom (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 1,283 1,300 1,344 1,225 1,185 1,196 1,256 1,313 +4.5% 5,152 4,950 -3.9% Net fee income 83 84 97 74 79 64 80 61 -23.6% 338 283 -16.2% Gains (losses) on financial transactions and other 2 6 45 (19) (7) 0 8 (17) — 34 (17) — Total revenue 1,368 1,391 1,486 1,280 1,257 1,260 1,344 1,356 +0.9% 5,525 5,216 -5.6% Operating expenses (674) (689) (684) (698) (734) (717) (710) (756) +6.5% (2,745) (2,918) +6.3% Net operating income 694 702 803 581 523 542 634 600 -5.3% 2,779 2,299 -17.3% Net loan-loss provisions (59) (44) (126) (18) (17) (44) (37) 34 — (247) (64) -74.2% Other gains (losses) and provisions (92) (73) (92) (168) (91) (64) (108) (179) +65.3% (425) (441) +3.9% Profit before tax 542 585 585 396 415 434 489 456 -6.8% 2,107 1,794 -14.9% Consolidated profit 395 423 425 301 305 325 346 331 -4.3% 1,545 1,306 -15.4% Attributable profit 395 423 425 301 305 325 346 331 -4.3% 1,545 1,306 -15.4%

63 United Kingdom (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 1,338 1,335 1,365 1,254 1,199 1,205 1,254 1,292 +3.0% 5,293 4,950 -6.5% Net fee income 86 87 98 76 80 64 80 60 -25.1% 347 283 -18.4% Gains (losses) on financial transactions and other 3 6 46 (20) (7) 0 8 (17) — 35 (17) — Total revenue 1,427 1,429 1,510 1,310 1,271 1,270 1,341 1,334 -0.5% 5,676 5,216 -8.1% Operating expenses (703) (708) (694) (715) (743) (723) (708) (744) +5.0% (2,820) (2,918) +3.4% Net operating income 724 721 816 595 529 547 633 590 -6.7% 2,856 2,299 -19.5% Net loan-loss provisions (62) (45) (129) (18) (18) (44) (37) 35 — (254) (64) -74.9% Other gains (losses) and provisions (96) (75) (94) (172) (92) (64) (108) (177) +63.9% (436) (441) +1.1% Profit before tax 566 601 594 405 419 438 489 448 -8.3% 2,165 1,794 -17.1% Consolidated profit 412 435 432 308 309 327 345 325 -5.8% 1,587 1,306 -17.7% Attributable profit 412 435 432 308 309 327 345 325 -5.8% 1,587 1,306 -17.7%

64 United Kingdom (GBP mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 1,133 1,130 1,156 1,061 1,015 1,020 1,061 1,093 +3.0% 4,480 4,189 -6.5% Net fee income 73 73 83 64 67 54 68 51 -25.1% 294 240 -18.4% Gains (losses) on financial transactions and other 2 5 39 (17) (6) 0 7 (15) — 30 (14) — Total revenue 1,208 1,209 1,278 1,109 1,076 1,075 1,135 1,129 -0.5% 4,804 4,415 -8.1% Operating expenses (595) (599) (587) (605) (629) (612) (599) (630) +5.0% (2,387) (2,469) +3.4% Net operating income 613 610 691 504 447 463 536 500 -6.7% 2,417 1,946 -19.5% Net loan-loss provisions (52) (38) (109) (16) (15) (38) (31) 29 — (215) (54) -74.9% Other gains (losses) and provisions (82) (63) (79) (145) (78) (54) (91) (150) +63.9% (369) (373) +1.1% Profit before tax 479 509 503 343 355 371 414 379 -8.3% 1,833 1,518 -17.1% Consolidated profit 349 368 365 261 261 277 292 275 -5.8% 1,343 1,105 -17.7% Attributable profit 349 368 365 261 261 277 292 275 -5.8% 1,343 1,105 -17.7%

65 Portugal (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 261 314 439 451 431 413 373 332 -10.8% 1,465 1,548 +5.7% Net fee income 124 111 117 111 127 115 115 110 -3.7% 464 467 +0.8% Gains (losses) on financial transactions and other 20 (6) 18 21 26 30 13 16 +21.2% 54 85 +58.0% Total revenue 405 419 575 584 584 558 500 458 -8.4% 1,982 2,100 +6.0% Operating expenses (132) (132) (137) (141) (134) (134) (137) (143) +4.5% (542) (548) +1.0% Net operating income 273 286 438 443 450 425 363 315 -13.3% 1,440 1,553 +7.8% Net loan-loss provisions (14) (20) (25) (18) (7) 5 (7) (1) -79.8% (77) (11) -85.7% Other gains (losses) and provisions 1 (42) (7) (1) (3) (36) (5) (18) +249.1% (49) (61) +24.5% Profit before tax 261 223 406 423 440 394 351 296 -15.6% 1,314 1,481 +12.7% Consolidated profit 180 142 284 293 303 260 230 210 -8.7% 898 1,003 +11.6% Attributable profit 180 142 283 292 303 260 229 209 -8.7% 896 1,001 +11.7%

66 Poland (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 586 623 662 673 686 697 727 733 +0.8% 2,543 2,844 +11.8% Net fee income 145 144 148 153 176 163 170 166 -2.3% 589 674 +14.4% Gains (losses) on financial transactions and other (2) 13 25 13 (28) 17 25 22 -12.6% 49 37 -25.3% Total revenue 729 780 835 838 834 878 923 921 -0.1% 3,182 3,555 +11.7% Operating expenses (197) (207) (217) (240) (229) (237) (252) (246) -2.4% (862) (965) +11.9% Net operating income 531 573 617 598 605 640 670 675 +0.8% 2,320 2,591 +11.7% Net loan-loss provisions (151) (191) (132) (199) (130) (166) (103) (112) +9.0% (674) (511) -24.2% Other gains (losses) and provisions (44) (61) (60) (88) (62) (108) (63) (197) +214.6% (253) (429) +69.3% Profit before tax 336 321 425 310 412 366 505 366 -27.4% 1,392 1,650 +18.5% Consolidated profit 247 236 319 213 314 258 392 255 -35.0% 1,015 1,219 +20.1% Attributable profit 167 155 208 145 213 173 256 158 -38.5% 674 800 +18.8%

67 Poland (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 641 657 692 690 690 697 724 734 +1.4% 2,681 2,844 +6.1% Net fee income 158 152 155 157 177 163 169 166 -1.8% 621 674 +8.5% Gains (losses) on financial transactions and other (2) 15 26 13 (28) 17 26 22 -12.7% 52 37 -29.1% Total revenue 797 823 873 860 839 877 918 922 +0.4% 3,354 3,555 +6.0% Operating expenses (216) (219) (227) (247) (230) (237) (251) (246) -1.9% (909) (965) +6.1% Net operating income 581 605 646 613 608 640 667 675 +1.3% 2,445 2,591 +5.9% Net loan-loss provisions (166) (202) (137) (205) (131) (166) (102) (112) +9.9% (710) (511) -28.0% Other gains (losses) and provisions (48) (65) (63) (91) (62) (108) (62) (197) +216.9% (267) (429) +60.6% Profit before tax 367 338 446 316 415 366 503 367 -27.1% 1,468 1,650 +12.4% Consolidated profit 271 248 334 217 316 257 391 255 -34.7% 1,070 1,219 +13.9% Attributable profit 182 163 218 147 215 173 255 158 -38.2% 710 800 +12.7%

68 Poland (PLN mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 2,759 2,830 2,980 2,972 2,973 2,999 3,115 3,158 +1.4% 11,541 12,245 +6.1% Net fee income 682 653 665 675 761 700 727 714 -1.8% 2,675 2,902 +8.5% Gains (losses) on financial transactions and other (9) 62 114 56 (122) 75 110 96 -12.7% 224 159 -29.1% Total revenue 3,432 3,545 3,760 3,703 3,611 3,775 3,952 3,968 +0.4% 14,440 15,306 +6.0% Operating expenses (930) (941) (978) (1,065) (992) (1,021) (1,081) (1,060) -1.9% (3,913) (4,153) +6.1% Net operating income 2,502 2,604 2,782 2,638 2,619 2,754 2,871 2,908 +1.3% 10,527 11,153 +5.9% Net loan-loss provisions (713) (871) (591) (885) (565) (716) (439) (482) +9.9% (3,059) (2,201) -28.0% Other gains (losses) and provisions (208) (279) (271) (392) (268) (464) (268) (848) +216.9% (1,150) (1,848) +60.6% Profit before tax 1,581 1,454 1,920 1,362 1,786 1,575 2,165 1,578 -27.1% 6,318 7,104 +12.4% Consolidated profit 1,165 1,070 1,440 932 1,359 1,108 1,683 1,099 -34.7% 4,607 5,249 +13.9% Attributable profit 785 700 938 634 924 744 1,099 679 -38.2% 3,057 3,446 +12.7%

69 Other Europe (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 7 30 36 36 5 19 50 48 -5.0% 109 121 +11.1% Net fee income 65 75 87 81 74 87 96 109 +13.5% 309 367 +19.0% Gains (losses) on financial transactions and other 50 32 68 51 39 60 49 28 -43.3% 201 176 -12.4% Total revenue 122 137 191 168 118 166 196 185 -5.5% 618 664 +7.4% Operating expenses (150) (161) (166) (177) (175) (176) (184) (171) -7.1% (653) (706) +8.1% Net operating income (28) (24) 26 (9) (57) (10) 11 14 +20.5% (35) (42) +20.8% Net loan-loss provisions (3) (2) (3) (4) 1 0 (1) (18) — (12) (17) +42.6% Other gains (losses) and provisions (1) (1) (1) 33 (9) (84) (65) (18) -71.9% 30 (176) — Profit before tax (32) (27) 22 20 (65) (94) (55) (22) -59.8% (17) (236) — Consolidated profit (20) (38) 4 50 (52) (96) (70) (8) -88.0% (5) (227) — Attributable profit (19) (38) 3 52 (53) (95) (70) (8) -89.2% (3) (225) —

70 Other Europe (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 6 30 36 36 5 19 51 47 -7.8% 109 121 +11.2% Net fee income 65 75 87 81 75 87 97 109 +12.2% 308 367 +19.0% Gains (losses) on financial transactions and other 50 32 68 51 39 60 49 28 -44.4% 201 176 -12.4% Total revenue 121 138 192 167 118 165 197 183 -7.1% 618 664 +7.4% Operating expenses (149) (162) (166) (177) (176) (176) (185) (170) -8.3% (653) (706) +8.1% Net operating income (28) (24) 26 (9) (57) (11) 12 13 +10.4% (35) (42) +20.5% Net loan-loss provisions (3) (2) (3) (4) 1 0 (1) (18) — (12) (17) +42.6% Other gains (losses) and provisions (1) (1) (1) 33 (9) (84) (65) (18) -72.2% 30 (176) — Profit before tax (33) (27) 22 19 (65) (94) (55) (23) -58.7% (18) (236) — Consolidated profit (21) (38) 4 50 (52) (96) (70) (9) -87.5% (5) (227) — Attributable profit (19) (38) 3 51 (52) (95) (70) (8) -88.7% (3) (225) —

71 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 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 1,029 1,011 1,069 1,083 1,095 1,092 1,069 1,105 +3.4% 4,193 4,361 +4.0% Net fee income 191 203 210 192 220 231 229 222 -3.1% 796 902 +13.4% Gains (losses) on financial transactions and other 123 101 132 158 95 120 100 100 -0.1% 514 416 -19.0% Total revenue 1,343 1,315 1,411 1,433 1,410 1,444 1,398 1,427 +2.1% 5,502 5,679 +3.2% Operating expenses (659) (655) (652) (652) (665) (655) (656) (629) -4.2% (2,618) (2,604) -0.5% Net operating income 684 660 759 781 745 789 742 799 +7.7% 2,884 3,075 +6.6% Net loan-loss provisions (193) (222) (225) (152) (276) (308) (279) (345) +23.6% (792) (1,209) +52.6% Other gains (losses) and provisions (43) 43 (25) (47) (69) (124) (61) (481) +690.6% (72) (735) +914.1% Profit before tax 447 481 509 582 401 356 402 (28) — 2,019 1,131 -44.0% Consolidated profit 337 364 376 449 297 279 302 (2) — 1,526 876 -42.6% Attributable profit 244 277 302 376 229 224 243 (54) — 1,199 642 -46.5%

72 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 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 1,030 1,016 1,070 1,087 1,093 1,092 1,070 1,106 +3.4% 4,203 4,361 +3.8% Net fee income 191 204 211 192 220 231 229 222 -3.1% 798 902 +13.1% Gains (losses) on financial transactions and other 124 102 133 158 95 121 100 100 -0.6% 517 416 -19.5% Total revenue 1,345 1,321 1,414 1,437 1,408 1,443 1,400 1,428 +2.0% 5,517 5,679 +2.9% Operating expenses (659) (657) (653) (653) (664) (654) (657) (629) -4.3% (2,622) (2,604) -0.7% Net operating income 686 664 761 784 744 789 743 799 +7.6% 2,895 3,075 +6.2% Net loan-loss provisions (193) (226) (225) (152) (275) (309) (280) (346) +23.6% (796) (1,209) +51.9% Other gains (losses) and provisions (44) 42 (25) (48) (69) (124) (61) (481) +692.6% (76) (735) +867.3% Profit before tax 449 480 511 583 400 356 402 (28) — 2,023 1,131 -44.1% Consolidated profit 338 364 377 450 297 278 302 (2) — 1,529 876 -42.7% Attributable profit 244 277 303 377 228 224 244 (54) — 1,201 642 -46.5%

73 North America (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 2,448 2,483 2,602 2,626 2,611 2,636 2,527 2,556 +1.2% 10,159 10,330 +1.7% Net fee income 521 555 560 555 638 662 641 654 +2.0% 2,192 2,594 +18.3% Gains (losses) on financial transactions and other 172 237 228 185 236 256 200 299 +49.7% 823 991 +20.4% Total revenue 3,141 3,276 3,391 3,366 3,485 3,554 3,367 3,509 +4.2% 13,174 13,915 +5.6% Operating expenses (1,500) (1,560) (1,648) (1,758) (1,661) (1,691) (1,624) (1,724) +6.2% (6,465) (6,701) +3.6% Net operating income 1,641 1,716 1,743 1,608 1,824 1,863 1,743 1,785 +2.4% 6,708 7,214 +7.5% Net loan-loss provisions (808) (722) (1,077) (1,126) (985) (908) (944) (950) +0.6% (3,733) (3,786) +1.4% Other gains (losses) and provisions (19) (69) (37) (14) (63) (144) (75) (54) -28.8% (138) (336) +143.1% Profit before tax 815 925 629 469 776 810 724 781 +7.9% 2,837 3,091 +9.0% Consolidated profit 640 719 555 454 645 703 586 649 +10.7% 2,369 2,582 +9.0% Attributable profit 627 719 554 454 644 703 585 648 +10.8% 2,354 2,579 +9.6%

74 North America (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 2,451 2,467 2,544 2,568 2,537 2,557 2,608 2,628 +0.8% 10,029 10,330 +3.0% Net fee income 525 548 540 539 616 638 663 677 +2.1% 2,152 2,594 +20.5% Gains (losses) on financial transactions and other 170 238 228 183 234 252 205 300 +46.2% 819 991 +20.9% Total revenue 3,145 3,253 3,312 3,290 3,387 3,447 3,476 3,605 +3.7% 13,000 13,915 +7.0% Operating expenses (1,500) (1,551) (1,615) (1,723) (1,621) (1,646) (1,671) (1,762) +5.5% (6,389) (6,701) +4.9% Net operating income 1,645 1,701 1,697 1,568 1,766 1,801 1,805 1,843 +2.1% 6,611 7,214 +9.1% Net loan-loss provisions (807) (719) (1,063) (1,110) (963) (884) (972) (968) -0.4% (3,699) (3,786) +2.4% Other gains (losses) and provisions (19) (69) (36) (13) (62) (143) (77) (54) -29.7% (137) (336) +146.1% Profit before tax 819 914 598 445 741 773 756 821 +8.6% 2,775 3,091 +11.4% Consolidated profit 643 712 533 436 619 676 611 677 +10.8% 2,323 2,582 +11.2% Attributable profit 630 711 532 436 618 676 609 676 +10.9% 2,308 2,579 +11.7%

75 United States (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 1,465 1,436 1,414 1,428 1,396 1,428 1,411 1,458 +3.3% 5,742 5,693 -0.9% Net fee income 190 200 189 187 267 272 296 317 +7.0% 766 1,152 +50.3% Gains (losses) on financial transactions and other 173 161 215 152 205 201 163 167 +2.3% 701 735 +5.0% Total revenue 1,827 1,797 1,818 1,767 1,869 1,900 1,870 1,941 +3.8% 7,209 7,580 +5.1% Operating expenses (912) (887) (915) (964) (940) (963) (940) (987) +5.0% (3,679) (3,830) +4.1% Net operating income 915 910 903 802 929 938 929 954 +2.7% 3,531 3,750 +6.2% Net loan-loss provisions (567) (438) (764) (824) (615) (556) (650) (686) +5.6% (2,593) (2,507) -3.3% Other gains (losses) and provisions (2) (55) (21) 4 (40) (43) (62) (45) -27.9% (74) (190) +154.9% Profit before tax 346 417 119 (18) 274 339 217 223 +2.8% 863 1,053 +22.0% Consolidated profit 300 367 198 67 279 385 216 229 +6.2% 932 1,109 +19.0% Attributable profit 300 367 198 67 279 385 216 229 +6.2% 932 1,109 +19.0%

76 United States (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 1,453 1,444 1,422 1,420 1,401 1,421 1,433 1,438 +0.3% 5,739 5,693 -0.8% Net fee income 188 201 191 186 268 271 300 313 +4.2% 766 1,152 +50.4% Gains (losses) on financial transactions and other 171 162 216 151 206 200 166 164 -1.1% 700 735 +5.1% Total revenue 1,812 1,807 1,829 1,756 1,875 1,892 1,899 1,914 +0.8% 7,205 7,580 +5.2% Operating expenses (905) (892) (920) (959) (943) (958) (955) (974) +1.9% (3,676) (3,830) +4.2% Net operating income 907 915 908 797 932 933 944 941 -0.3% 3,528 3,750 +6.3% Net loan-loss provisions (563) (441) (767) (821) (617) (553) (660) (678) +2.7% (2,591) (2,507) -3.3% Other gains (losses) and provisions (2) (55) (21) 4 (40) (43) (63) (44) -29.9% (74) (190) +155.0% Profit before tax 343 419 120 (19) 275 337 222 219 -1.0% 863 1,053 +22.1% Consolidated profit 297 369 200 65 280 383 220 225 +2.0% 931 1,109 +19.0% Attributable profit 297 369 200 65 280 383 220 225 +2.0% 931 1,109 +19.0%

77 United States (USD mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 1,572 1,562 1,538 1,536 1,516 1,537 1,550 1,555 +0.3% 6,208 6,158 -0.8% Net fee income 203 218 206 201 290 293 325 338 +4.2% 828 1,246 +50.4% Gains (losses) on financial transactions and other 185 175 234 163 223 216 179 177 -1.1% 757 796 +5.1% Total revenue 1,960 1,955 1,978 1,900 2,028 2,046 2,054 2,071 +0.8% 7,794 8,199 +5.2% Operating expenses (979) (965) (996) (1,038) (1,020) (1,037) (1,033) (1,053) +1.9% (3,977) (4,143) +4.2% Net operating income 981 990 983 862 1,008 1,009 1,021 1,018 -0.3% 3,817 4,056 +6.3% Net loan-loss provisions (609) (477) (829) (888) (668) (598) (713) (733) +2.7% (2,803) (2,712) -3.3% Other gains (losses) and provisions (2) (60) (23) 4 (43) (46) (68) (47) -29.9% (80) (205) +155.0% Profit before tax 371 453 130 (21) 297 365 240 237 -1.0% 933 1,139 +22.1% Consolidated profit 322 399 216 71 303 415 238 243 +2.0% 1,008 1,199 +19.0% Attributable profit 322 399 216 71 303 415 238 243 +2.0% 1,008 1,199 +19.0%

78 Mexico (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 983 1,045 1,186 1,195 1,214 1,207 1,113 1,097 -1.5% 4,408 4,631 +5.0% Net fee income 320 344 356 355 359 374 329 322 -2.1% 1,374 1,385 +0.8% Gains (losses) on financial transactions and other (2) 74 13 31 35 55 34 139 +304.6% 117 263 +125.3% Total revenue 1,300 1,463 1,555 1,581 1,608 1,636 1,476 1,558 +5.5% 5,899 6,278 +6.4% Operating expenses (540) (623) (681) (743) (665) (677) (634) (689) +8.7% (2,588) (2,665) +3.0% Net operating income 760 840 874 838 943 959 843 869 +3.1% 3,311 3,613 +9.1% Net loan-loss provisions (239) (284) (312) (301) (370) (351) (293) (263) -10.4% (1,135) (1,277) +12.5% Other gains (losses) and provisions (17) (13) (16) (12) (15) (17) (13) (17) +26.0% (57) (62) +8.1% Profit before tax 504 543 546 525 558 590 536 589 +9.9% 2,119 2,274 +7.3% Consolidated profit 373 402 404 398 412 430 395 439 +11.2% 1,577 1,676 +6.3% Attributable profit 359 401 403 397 411 429 394 438 +11.1% 1,560 1,671 +7.2%

79 Mexico (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 997 1,020 1,120 1,146 1,135 1,135 1,172 1,189 +1.5% 4,282 4,631 +8.1% Net fee income 324 336 335 340 336 352 347 350 +0.8% 1,334 1,385 +3.8% Gains (losses) on financial transactions and other (2) 74 12 29 32 52 37 142 +287.4% 113 263 +132.0% Total revenue 1,320 1,429 1,466 1,515 1,503 1,538 1,556 1,681 +8.0% 5,730 6,278 +9.6% Operating expenses (549) (609) (643) (713) (622) (637) (666) (740) +11.2% (2,513) (2,665) +6.0% Net operating income 771 820 823 802 881 901 890 941 +5.7% 3,216 3,613 +12.3% Net loan-loss provisions (243) (277) (294) (289) (346) (330) (312) (289) -7.2% (1,103) (1,277) +15.8% Other gains (losses) and provisions (17) (12) (15) (11) (14) (16) (14) (18) +27.1% (55) (62) +11.3% Profit before tax 512 531 514 502 522 555 564 633 +12.3% 2,058 2,274 +10.5% Consolidated profit 378 393 380 381 386 404 415 471 +13.5% 1,532 1,676 +9.4% Attributable profit 364 392 379 380 385 403 414 470 +13.4% 1,515 1,671 +10.3%

80 Mexico (MXN mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 19,669 20,110 22,081 22,597 22,390 22,383 23,112 23,448 +1.5% 84,457 91,333 +8.1% Net fee income 6,400 6,619 6,599 6,700 6,621 6,937 6,850 6,903 +0.8% 26,318 27,312 +3.8% Gains (losses) on financial transactions and other (39) 1,462 231 581 639 1,017 724 2,804 +287.4% 2,235 5,184 +132.0% Total revenue 26,030 28,192 28,911 29,877 29,650 30,337 30,686 33,155 +8.0% 113,009 123,828 +9.6% Operating expenses (10,819) (12,009) (12,687) (14,059) (12,267) (12,559) (13,136) (14,603) +11.2% (49,574) (52,565) +6.0% Net operating income 15,211 16,182 16,224 15,818 17,383 17,778 17,550 18,552 +5.7% 63,435 71,263 +12.3% Net loan-loss provisions (4,786) (5,472) (5,804) (5,692) (6,816) (6,515) (6,151) (5,708) -7.2% (21,754) (25,191) +15.8% Other gains (losses) and provisions (332) (246) (290) (226) (269) (319) (277) (352) +27.1% (1,094) (1,218) +11.3% Profit before tax 10,093 10,464 10,131 9,900 10,298 10,943 11,122 12,492 +12.3% 40,588 44,854 +10.5% Consolidated profit 7,465 7,747 7,488 7,516 7,606 7,966 8,191 9,297 +13.5% 30,215 33,059 +9.4% Attributable profit 7,184 7,729 7,475 7,496 7,585 7,946 8,169 9,268 +13.4% 29,884 32,967 +10.3%

81 Other North America (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 0 3 2 3 1 2 3 2 -33.4% 8 7 -16.7% Net fee income 12 11 15 13 12 15 16 14 -7.7% 52 57 +10.9% Gains (losses) on financial transactions and other 1 2 (0) 3 (4) 0 3 (7) — 6 (8) — Total revenue 14 16 17 19 9 17 21 10 -53.4% 66 57 -13.9% Operating expenses (47) (50) (51) (51) (56) (51) (50) (48) -3.0% (199) (206) +3.3% Net operating income (33) (34) (34) (32) (48) (34) (29) (39) +33.7% (133) (149) +11.7% Net loan-loss provisions (2) (1) (2) (0) (0) (1) (0) (1) +40.0% (5) (2) -54.0% Other gains (losses) and provisions (0) (1) (0) (6) (8) (84) (0) 8 — (7) (85) — Profit before tax (35) (36) (36) (38) (56) (119) (30) (32) +6.8% (145) (236) +62.8% Consolidated profit (33) (50) (47) (11) (47) (111) (25) (19) -21.7% (140) (202) +44.4% Attributable profit (32) (49) (47) (10) (47) (111) (25) (19) -25.0% (138) (201) +45.5%

82 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 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 0 3 2 3 1 2 3 2 -32.9% 8 7 -16.7% Net fee income 12 11 15 13 12 15 16 14 -7.6% 52 57 +10.9% Gains (losses) on financial transactions and other 1 2 (0) 3 (4) 0 2 (6) — 6 (8) — Total revenue 14 16 17 19 9 17 21 10 -52.9% 66 57 -13.9% Operating expenses (47) (50) (51) (51) (56) (51) (50) (48) -3.0% (199) (206) +3.3% Net operating income (33) (34) (34) (32) (48) (34) (29) (39) +33.1% (133) (149) +11.7% Net loan-loss provisions (2) (1) (2) (0) (0) (1) (0) (1) +40.0% (5) (2) -54.0% Other gains (losses) and provisions (0) (1) (0) (6) (8) (84) (0) 8 — (7) (85) — Profit before tax (35) (36) (36) (38) (56) (119) (30) (32) +6.1% (145) (236) +62.8% Consolidated profit (33) (50) (47) (11) (47) (111) (25) (19) -22.4% (140) (202) +44.4% Attributable profit (32) (49) (47) (10) (47) (111) (25) (19) -25.7% (138) (201) +45.6%

83 South America (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 3,163 3,314 3,356 3,206 4,185 3,649 3,520 4,210 +19.6% 13,040 15,566 +19.4% Net fee income 1,166 1,229 1,264 1,025 1,182 1,176 1,159 1,348 +16.2% 4,684 4,864 +3.9% Gains (losses) on financial transactions and other 75 91 (17) 98 (480) 78 (2) (242) — 247 (647) — Total revenue 4,404 4,634 4,604 4,329 4,887 4,903 4,678 5,316 +13.6% 17,971 19,783 +10.1% Operating expenses (1,723) (1,810) (1,798) (1,589) (1,829) (1,636) (1,612) (1,865) +15.7% (6,920) (6,943) +0.3% Net operating income 2,680 2,823 2,806 2,741 3,058 3,267 3,066 3,450 +12.5% 11,050 12,841 +16.2% Net loan-loss provisions (1,232) (1,309) (1,301) (1,560) (1,378) (1,370) (1,326) (1,404) +5.9% (5,401) (5,478) +1.4% Other gains (losses) and provisions (201) (386) (214) (239) (371) (417) (235) (346) +47.1% (1,041) (1,369) +31.6% Profit before tax 1,247 1,128 1,291 942 1,308 1,480 1,505 1,701 +13.0% 4,608 5,993 +30.1% Consolidated profit 898 800 956 834 888 1,015 1,126 1,347 +19.6% 3,487 4,376 +25.5% Attributable profit 790 668 871 709 796 885 984 1,198 +21.8% 3,038 3,863 +27.1% Note: From Q2 2024 onwards for the Argentine peso, we apply an alternative exchange rate that better reflects the evolution of inflation (we continue to apply the official ARS exchange rate to all prior periods). For further information, see the 'Alternative performance measures' section in the appendix to the quarterly report.

84 South America (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 3,021 3,102 3,134 2,970 3,988 3,547 3,643 4,388 +20.5% 12,227 15,566 +27.3% Net fee income 1,111 1,143 1,174 945 1,118 1,140 1,200 1,407 +17.3% 4,373 4,864 +11.2% Gains (losses) on financial transactions and other 59 63 (36) 88 (483) 77 0 (241) — 174 (647) — Total revenue 4,191 4,308 4,272 4,003 4,623 4,764 4,843 5,554 +14.7% 16,774 19,783 +17.9% Operating expenses (1,643) (1,689) (1,673) (1,476) (1,742) (1,591) (1,667) (1,943) +16.5% (6,482) (6,943) +7.1% Net operating income 2,547 2,619 2,598 2,527 2,881 3,173 3,176 3,611 +13.7% 10,292 12,841 +24.8% Net loan-loss provisions (1,172) (1,215) (1,196) (1,442) (1,291) (1,326) (1,380) (1,481) +7.3% (5,025) (5,478) +9.0% Other gains (losses) and provisions (195) (367) (195) (220) (355) (407) (246) (360) +46.5% (978) (1,369) +40.1% Profit before tax 1,180 1,036 1,208 865 1,234 1,439 1,550 1,770 +14.2% 4,289 5,993 +39.7% Consolidated profit 846 730 893 771 842 987 1,154 1,393 +20.7% 3,240 4,376 +35.1% Attributable profit 749 613 814 656 753 860 1,009 1,240 +22.9% 2,832 3,863 +36.4% Note: Variations in constant euros include Argentina in current euros to mitigate distortions from a hyperinflationary economy. Additionally, from Q2 2024 onwards for the Argentine peso, we apply an alternative exchange rate that better reflects the evolution of inflation (we continue to apply the official ARS exchange rate to all prior periods). For further information, see the 'Alternative performance measures' section in the appendix to the quarterly report.

85 Brazil (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 2,105 2,180 2,327 2,504 2,630 2,605 2,474 2,413 -2.5% 9,116 10,121 +11.0% Net fee income 817 858 902 885 846 888 833 846 +1.6% 3,462 3,414 -1.4% Gains (losses) on financial transactions and other 135 185 107 98 30 (16) (24) 11 — 526 1 -99.8% Total revenue 3,057 3,224 3,336 3,487 3,507 3,477 3,282 3,270 -0.4% 13,104 13,536 +3.3% Operating expenses (1,080) (1,127) (1,138) (1,184) (1,156) (1,109) (1,024) (1,063) +3.8% (4,529) (4,352) -3.9% Net operating income 1,977 2,096 2,197 2,303 2,351 2,368 2,258 2,207 -2.3% 8,574 9,184 +7.1% Net loan-loss provisions (1,034) (1,129) (1,121) (1,417) (1,163) (1,158) (1,088) (1,077) -1.0% (4,701) (4,487) -4.5% Other gains (losses) and provisions (178) (323) (223) (239) (211) (251) (201) (204) +1.2% (963) (867) -9.9% Profit before tax 765 645 854 648 977 958 969 926 -4.4% 2,911 3,830 +31.6% Consolidated profit 517 413 663 543 618 640 696 712 +2.4% 2,135 2,665 +24.8% Attributable profit 469 354 603 494 561 580 630 652 +3.5% 1,921 2,422 +26.1%

86 Brazil (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 2,019 2,022 2,128 2,300 2,433 2,514 2,592 2,582 -0.4% 8,470 10,121 +19.5% Net fee income 783 796 825 812 783 856 872 903 +3.5% 3,217 3,414 +6.1% Gains (losses) on financial transactions and other 130 173 96 90 28 (14) (23) 11 — 488 1 -99.8% Total revenue 2,932 2,991 3,050 3,202 3,244 3,356 3,441 3,495 +1.6% 12,175 13,536 +11.2% Operating expenses (1,036) (1,046) (1,040) (1,087) (1,070) (1,071) (1,076) (1,135) +5.4% (4,208) (4,352) +3.4% Net operating income 1,896 1,945 2,010 2,115 2,175 2,285 2,364 2,360 -0.2% 7,966 9,184 +15.3% Net loan-loss provisions (992) (1,048) (1,024) (1,304) (1,076) (1,118) (1,141) (1,152) +1.0% (4,367) (4,487) +2.7% Other gains (losses) and provisions (171) (301) (203) (219) (195) (242) (212) (218) +2.9% (894) (867) -3.0% Profit before tax 734 595 782 593 904 925 1,012 990 -2.2% 2,705 3,830 +41.6% Consolidated profit 495 381 609 498 572 617 722 755 +4.6% 1,984 2,665 +34.4% Attributable profit 450 326 555 454 519 559 654 690 +5.6% 1,784 2,422 +35.8%

87 Brazil (BRL mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 11,731 11,745 12,364 13,359 14,135 14,604 15,058 14,998 -0.4% 49,200 58,795 +19.5% Net fee income 4,550 4,625 4,791 4,719 4,549 4,973 5,065 5,243 +3.5% 18,685 19,829 +6.1% Gains (losses) on financial transactions and other 752 1,004 561 521 164 (82) (136) 61 — 2,838 7 -99.8% Total revenue 17,034 17,373 17,716 18,599 18,847 19,495 19,987 20,303 +1.6% 70,722 78,632 +11.2% Operating expenses (6,018) (6,074) (6,041) (6,312) (6,213) (6,222) (6,253) (6,592) +5.4% (24,445) (25,280) +3.4% Net operating income 11,017 11,299 11,675 12,287 12,634 13,273 13,734 13,710 -0.2% 46,277 53,352 +15.3% Net loan-loss provisions (5,760) (6,089) (5,948) (7,572) (6,251) (6,494) (6,626) (6,694) +1.0% (25,370) (26,065) +2.7% Other gains (losses) and provisions (992) (1,751) (1,181) (1,272) (1,134) (1,404) (1,232) (1,267) +2.9% (5,196) (5,037) -3.0% Profit before tax 4,264 3,459 4,546 3,442 5,249 5,375 5,876 5,750 -2.2% 15,712 22,250 +41.6% Consolidated profit 2,878 2,213 3,538 2,895 3,321 3,585 4,193 4,385 +4.6% 11,524 15,484 +34.4% Attributable profit 2,614 1,894 3,223 2,635 3,016 3,248 3,797 4,011 +5.6% 10,366 14,072 +35.8%

88 Chile (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 371 356 241 415 352 472 482 516 +7.1% 1,383 1,822 +31.8% Net fee income 153 163 133 122 129 137 146 140 -4.1% 572 551 -3.7% Gains (losses) on financial transactions and other 82 103 91 54 47 51 64 59 -8.0% 331 220 -33.5% Total revenue 606 623 465 591 527 659 691 714 +3.4% 2,285 2,592 +13.4% Operating expenses (254) (266) (251) (249) (224) (241) (236) (232) -1.7% (1,020) (933) -8.5% Net operating income 352 356 214 343 303 418 455 482 +6.0% 1,265 1,659 +31.1% Net loan-loss provisions (117) (86) (84) (78) (125) (126) (127) (118) -7.3% (365) (497) +36.1% Other gains (losses) and provisions 10 16 9 16 (18) (2) (11) (21) +98.9% 51 (51) — Profit before tax 245 286 140 281 160 290 317 343 +8.3% 951 1,111 +16.7% Consolidated profit 212 252 111 241 126 232 257 285 +10.8% 816 899 +10.2% Attributable profit 150 180 87 165 90 162 180 196 +8.7% 582 629 +8.1%

89 Chile (Constant EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 316 304 223 385 355 466 482 519 +7.7% 1,228 1,822 +48.3% Net fee income 131 139 122 116 130 135 146 141 -3.5% 508 551 +8.4% Gains (losses) on financial transactions and other 70 88 83 53 47 50 64 59 -7.4% 294 220 -25.2% Total revenue 517 532 427 554 531 651 692 719 +4.0% 2,030 2,592 +27.7% Operating expenses (217) (227) (228) (234) (226) (238) (236) (234) -1.1% (906) (933) +3.0% Net operating income 300 304 199 320 305 413 455 485 +6.6% 1,124 1,659 +47.6% Net loan-loss provisions (100) (73) (77) (74) (126) (124) (127) (119) -6.7% (324) (497) +53.2% Other gains (losses) and provisions 9 14 9 14 (18) (1) (11) (21) +99.4% 45 (51) — Profit before tax 209 244 131 261 161 287 317 345 +8.8% 845 1,111 +31.4% Consolidated profit 181 216 105 224 126 230 257 286 +11.3% 725 899 +24.1% Attributable profit 128 154 81 154 91 160 180 197 +9.3% 517 629 +21.7%

90 Chile (CLP mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 322,790 310,631 227,113 392,690 361,759 475,476 491,886 529,884 +7.7% 1,253,223 1,859,004 +48.3% Net fee income 133,249 142,289 124,044 118,714 132,221 137,526 148,628 143,434 -3.5% 518,296 561,810 +8.4% Gains (losses) on financial transactions and other 71,478 89,691 84,396 54,175 47,914 50,822 65,168 60,347 -7.4% 299,740 224,252 -25.2% Total revenue 527,517 542,610 435,553 565,580 541,894 663,825 705,682 733,665 +4.0% 2,071,259 2,645,066 +27.7% Operating expenses (221,276) (232,073) (232,331) (238,680) (230,419) (242,392) (241,154) (238,447) -1.1% (924,361) (952,411) +3.0% Net operating income 306,241 310,537 203,221 326,900 311,474 421,433 464,529 495,219 +6.6% 1,146,899 1,692,655 +47.6% Net loan-loss provisions (102,184) (74,922) (78,072) (75,536) (128,553) (126,876) (129,978) (121,321) -6.7% (330,714) (506,728) +53.2% Other gains (losses) and provisions 8,714 13,820 8,873 14,742 (18,723) (1,490) (10,793) (21,524) +99.4% 46,150 (52,530) — Profit before tax 212,771 249,435 134,022 266,106 164,199 293,067 323,757 352,373 +8.8% 862,334 1,133,396 +31.4% Consolidated profit 184,239 220,033 106,903 228,425 129,060 234,352 262,298 292,044 +11.3% 739,600 917,754 +24.1% Attributable profit 130,735 156,673 83,065 156,770 92,983 163,683 183,935 201,084 +9.3% 527,244 641,685 +21.7%

91 Argentina (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 532 606 629 112 1,025 397 390 1,107 +184.0% 1,879 2,919 +55.3% Net fee income 137 145 164 (50) 131 73 111 287 +157.8% 396 602 +52.2% Gains (losses) on financial transactions and other (168) (223) (251) (90) (601) (6) (81) (347) +330.8% (731) (1,034) +41.6% Total revenue 501 528 543 (27) 555 465 421 1,047 +149.0% 1,544 2,487 +61.1% Operating expenses (250) (272) (260) 6 (286) (129) (192) (416) +116.2% (775) (1,022) +31.9% Net operating income 251 256 283 (21) 270 336 228 631 +176.6% 769 1,465 +90.4% Net loan-loss provisions (43) (54) (47) (7) (35) (31) (63) (156) +146.6% (150) (284) +89.5% Other gains (losses) and provisions (30) (74) (1) (10) (131) (77) (22) (123) +454.3% (114) (353) +209.1% Profit before tax 179 129 236 (39) 104 228 143 352 +146.6% 505 827 +63.8% Consolidated profit 140 113 155 (19) 102 165 116 284 +145.2% 388 666 +71.6% Attributable profit 139 113 154 (20) 101 164 116 283 +145.1% 386 665 +72.2% Note: From Q2 2024 onwards for the Argentine peso, we apply an alternative exchange rate that better reflects the evolution of inflation (we continue to apply the official ARS exchange rate to all prior periods). For further information, see the 'Alternative performance measures' section in the appendix to the quarterly report.

92 Argentina (Argentine peso mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 120,749 197,821 335,842 1,024,801 949,444 1,183,149 799,603 665,292 -16.8% 1,679,213 3,597,488 +114.2% Net fee income 31,111 47,835 86,223 188,633 121,575 184,297 204,428 232,193 +13.6% 353,802 742,493 +109.9% Gains (losses) on financial transactions and other (38,103) (71,228) (128,081) (415,488) (556,696) (352,838) (202,443) (162,607) -19.7% (652,901) (1,274,584) +95.2% Total revenue 113,757 174,428 293,983 797,945 514,323 1,014,608 801,588 734,878 -8.3% 1,380,113 3,065,397 +122.1% Operating expenses (56,701) (89,315) (143,275) (403,358) (264,501) (356,735) (360,405) (278,460) -22.7% (692,649) (1,260,101) +81.9% Net operating income 57,056 85,113 150,709 394,587 249,823 657,872 441,183 456,418 +3.5% 687,464 1,805,296 +162.6% Net loan-loss provisions (9,694) (17,326) (26,039) (81,056) (32,243) (66,079) (109,905) (142,215) +29.4% (134,114) (350,441) +161.3% Other gains (losses) and provisions (6,806) (22,205) (9,553) (63,609) (121,080) (190,573) (60,700) (63,207) +4.1% (102,174) (435,561) +326.3% Profit before tax 40,555 45,582 115,117 249,923 96,499 401,221 270,578 250,996 -7.2% 451,177 1,019,294 +125.9% Consolidated profit 31,692 39,094 80,117 196,132 94,174 305,308 219,057 202,550 -7.5% 347,034 821,089 +136.6% Attributable profit 31,627 38,982 79,848 194,539 93,937 304,665 218,682 202,229 -7.5% 344,996 819,512 +137.5%

93 Other South America (EUR mn) Change Change Underlying income statement Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 154 172 160 176 178 175 175 175 -0.0% 662 703 +6.2% Net fee income 59 62 65 67 75 78 70 75 +7.4% 254 298 +17.3% Gains (losses) on financial transactions and other 26 25 36 35 44 48 39 35 -11.1% 121 167 +37.5% Total revenue 239 259 261 278 297 302 284 285 +0.3% 1,038 1,168 +12.6% Operating expenses (139) (145) (149) (163) (163) (157) (159) (155) -3.0% (596) (635) +6.5% Net operating income 100 114 111 116 134 145 124 130 +4.4% 441 533 +20.8% Net loan-loss provisions (38) (40) (50) (58) (55) (54) (48) (53) +10.5% (186) (210) +13.2% Other gains (losses) and provisions (3) (6) (0) (6) (11) (87) (1) 2 — (15) (97) — Profit before tax 59 68 62 52 68 3 76 79 +4.7% 241 225 -6.4% Consolidated profit 30 21 28 69 43 (22) 58 66 +14.3% 148 145 -2.0% Attributable profit 31 22 27 70 43 (21) 58 67 +15.7% 150 146 -2.5%

94 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 Q4'24 Q4'24 / Q3'24 2023 2024 2024 / 2023 Net interest income 153 170 154 173 174 170 179 180 +0.6% 650 703 +8.2% Net fee income 60 63 63 67 74 76 71 77 +8.3% 252 298 +18.0% Gains (losses) on financial transactions and other 27 25 35 35 43 47 40 36 -10.0% 122 167 +36.0% Total revenue 240 258 253 275 292 293 290 293 +1.0% 1,025 1,168 +13.9% Operating expenses (141) (145) (146) (161) (161) (154) (162) (158) -2.2% (593) (635) +7.1% Net operating income 99 113 107 113 131 139 128 135 +5.0% 432 533 +23.3% Net loan-loss provisions (38) (40) (48) (57) (54) (53) (49) (55) +11.3% (183) (210) +14.7% Other gains (losses) and provisions (3) (6) (0) (6) (11) (87) (1) 2 — (14) (97) — Profit before tax 59 67 58 50 66 (1) 78 82 +5.2% 235 225 -4.0% Consolidated profit 30 20 25 68 42 (25) 60 68 +14.6% 143 145 +1.4% Attributable profit 31 21 24 69 42 (24) 60 69 +15.9% 145 146 +0.8%

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

96 Glossary - Acronyms ❑ ALCO: Assets and Liabilities Committee ❑ AT1: Additional Tier 1 ❑ bn: Billion ❑ Bps: basis points ❑ CET1: Common equity tier 1 ❑ CIB: Corporate & Investment Banking ❑ CoR: Cost of risk ❑ HQLA: High quality liquid asset ❑ FL: Fully-loaded ❑ FY: Full year ❑ HTC&S: Held to collect and sell ❑ IFRS 9: International Financial Reporting Standard 9, regarding financial instruments ❑ LLPs: Loan-loss provisions ❑ M/LT: Medium- and long-term ❑ mn: million ❑ MREL: Minimum requirement for own funds and eligible liabilities ❑ NII: Net interest income ❑ NPL: Non-performing loans ❑ PBT: Profit before tax ❑ P&L: Profit and loss ❑ Pp: percentage points ❑ QoQ: Quarter-on-Quarter ❑ RoRWA: Return on risk-weighted assets ❑ RoTE: Return on tangible equity ❑ RWA: Risk-weighted assets ❑ ST: Short term ❑ T1/T2: Tier 1 / Tier 2 ❑ TLAC: Total loss-absorbing capacity ❑ TNAV: Tangible net asset value ❑ YoY: Year-on-Year ❑ YTD: Year to date

97 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 assets ✓ Efficiency: Operating expenses / total income. Operating expenses defined as general administrative expenses + amortizations CREDIT RISK ✓ NPL ratio: Credit impaired loans and advances to customers, customer guarantees and customer commitments granted / Total risk. Total risk is defined as: Total loans and advances and guarantees to customers (including credit impaired assets) + contingent liabilities granted that are credit impaired ✓ NPL coverage ratio: Total allowances to cover impairment losses on loans and advances to customers, customer guarantees and customer commitments granted / Credit impaired loans and advances to customers, customer guarantees and customer commitments granted ✓ Cost of risk: Provisions to cover losses due to impairment of loans in the last 12 months / average customer loans and advances of the last 12 months CAPITALIZATION ✓ Tangible net asset value per share – TNAVps: Tangible stockholders' equity / number of shares (excluding treasury shares). Tangible stockholders' equity calculated as shareholders equity + accumulated other comprehensive income - intangible assets Notes: The averages for the RoTE and RoRWA denominators are calculated using the monthly average over the period, which we believe should not differ materially from using daily balances. The risk-weighted assets included in the denominator of the RoRWA metric are calculated in line with the criteria laid out in the CRR (Capital Requirements Regulation).

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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:    5 February 2025 By: /s/ José García Cantera Name: José García Cantera Title: Chief Financial Officer