# EDGAR Filing Document

**Accession Number:** 0001698287
**File Stem:** 0000950103-23-001859
**Filing Date:** 2023-2
**Character Count:** 564743
**Document Hash:** 969050f396a2033f9f23dc85aab2a34e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950103-23-001859.hdr.sgml**: 20230203

**ACCESSION NUMBER**: 0000950103-23-001859

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 139

**CONFORMED PERIOD OF REPORT**: 20230203

**FILED AS OF DATE**: 20230203

**DATE AS OF CHANGE**: 20230203

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Banco Santander Mexico S.A., Institucion de Banca Multiple, Grupo Financiero Santander Mexico
- **CENTRAL INDEX KEY:** 0001698287
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMERCIAL BANKS, NEC [6029]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** O5
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-55899
- **FILM NUMBER:** 23585805

**BUSINESS ADDRESS:**
- **STREET 1:** PROLONGACION PASEO DE LA REFORMA NO. 500
- **STREET 2:** PISO 2, MODULO 206
- **CITY:** MEXICO
- **STATE:** O5
- **ZIP:** 00000
- **BUSINESS PHONE:** (55) 52578000

**MAIL ADDRESS:**
- **STREET 1:** PROLONGACION PASEO DE LA REFORMA NO. 500
- **STREET 2:** PISO 2, MODULO 206
- **CITY:** MEXICO
- **STATE:** O5
- **ZIP:** 00000

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Banco Santander (Mexico) S.A., Institucion de Banca Multiple, Grupo Financiero Santander Mexico
- **DATE OF NAME CHANGE:** 20170215

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 6-K**

<br> **REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934**

For the month of February 2023

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**Commission File Number: 000-55899**

**BANCO SANTANDER MÉXICO, S.A., INSTITUCIÓN DE BANCA MÚLTIPLE, GRUPO FINANCIERO SANTANDER MÉXICO**

(Exact Name of Registrant as Specified in Its Charter)

**Avenida Prolongación Paseo de la Reforma 500**

**Colonia Lomas de Santa Fe**

**Alcaldía Álvaro Obregón**

**01219, Ciudad de México**

(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 X Form 40-F  

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

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|:---|:---|:---|
| Yes | No | X |

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Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

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|:---|:---|:---|
| Yes | No | X |

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**BANCO SANTANDER MÉXICO, S.A., INSTITUCIÓN DE BANCA MÚLTIPLE, GRUPO FINANCIERO SANTANDER MÉXICO**

**TABLE OF CONTENTS**

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| | |
|:---|:---|
| **ITEM** |  |
| 1. | Fourth quarter 2022 earnings release of Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México |
| 2. | Fourth quarter 2022 earnings presentation of Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México |

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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.

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| | | |
|:---|:---|:---|
| **BANCO SANTANDER MÉXICO, S.A., INSTITUCIÓN DE BANCA MÚLTIPLE, GRUPO FINANCIERO SANTANDER MÉXICO** | **BANCO SANTANDER MÉXICO, S.A., INSTITUCIÓN DE BANCA MÚLTIPLE, GRUPO FINANCIERO SANTANDER MÉXICO** | **BANCO SANTANDER MÉXICO, S.A., INSTITUCIÓN DE BANCA MÚLTIPLE, GRUPO FINANCIERO SANTANDER MÉXICO** |
| By: | /s/ Hector Chávez Lopez | /s/ Hector Chávez Lopez |
|  | Name: | Hector Chávez Lopez |
|  | Title: | Executive Director of Investor Relations |

---

Date: February 3, 2023

**Item 1**

![](image_119.jpg)

**TABLE OF CONTENTS**

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| | |
|:---|:---|
| **I.Key Highlights for the Quarter** | **2** |
| **II. CEO Message** | **3** |
| **III. Summary of 4Q22 Consolidated Results** | **4** |
| **IV. Analysis of 4Q22 Consolidated Results** | **12** |
| **V.Relevant Events, Transactions and Activities** | **29** |
| **VI. Awards and Recognitions** | **31** |
| **VII.Credit Ratings** | **31** |
| **VIII.4Q22 Earnings Call Dial-In Information** | **33** |
| **IX.Analyst Coverage** | **33** |
| **X.Definition of Ratios** | **33** |
| **XI.Consolidated Financial Statements** | **36** |
| **XII.Notes to Consolidated Financial Statements** | **53** |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 1 |

---

**Banco Santander México Reports Fourth Quarter 2022 Net Income of Ps.6,277 Million**

Strong YoY total loan portfolio growth, highlighting a solid increase in individual loans, mainly due to double-digit growth in credit cards, payroll and auto loans. While loan volumes in the commercial portfolio were driven by increases of middle-market companies and financial entities.

Total deposits showed a pick-up of 6.9% YoY, driven by term deposits on the back of a higher interest rate environment, while demand deposits reflected the Bank's profitability focus. Meanwhile, contribution of individuals in total deposits represented 41.4%, compared with 24.2% in 2016.

Net income increased 19.7% YoY in 4Q22, mainly due to the solid increase in NII and fees, along with lower expenses resulting from disciplined cost control.

**Mexico City – February 2<sup>nd</sup>, 2023, Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México** (NYSE: BSMX; BMV: BSMX), ("Banco Santander México" or "the Bank"), today announced financial results for the three-month and twelve-month periods ending December 31<sup>st</sup>, 2022.

Banco Santander México reported net income of Ps.6,277 million in 4Q22, representing a YoY increase of 19.7% and a QoQ decrease 23.3%. On a cumulative basis, net income for 12M22 reached Ps.26,476 million, representing a 46.4% YoY increase.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **HIGHLIGHTS**<br>**Results (Million pesos)** |<br>**4Q22** | **3Q22** | **4Q21** | **%QoQ** | **%YoY** | **12M22** | **12M21** | **12M21** | <br>**%YoY** |
| Net interest income | 19945 | 18370 | 16046 | 8.6 | 24.3 | 72008 | 63085 | 63085 | 14.1 |
| Fee and commission, net | 5118 | 5271 | 4760 | (2.9) | 7.5 | 20544 | 18982 | 18982 | 8.2 |
| Core revenues | 25063 | 23641 | 20806 | 6 | 20.5 | 92552 | 82067 | 82067 | 12.8 |
| Provisions for loan losses | 4712 | 785 | 4289 |  | 9.9 | 12227 | 20817 | 20817 | (41.3) |
| Administrative and promotional expenses | 12310 | 10400 | 12636 | 18.4 | (2.6) | 42313 | 43235 | 43235 | (2.1) |
| Net income | 6277 | 8188 | 5245 | (23.3) | 19.7 | 26476 | 18080 | 18080 | 46.4 |
| Net income per share<sup>1</sup> | 0.93 | 1.21 | 0.77 | (23.3) | 19.6 | 3.90 | 2.66 | 2.66 | 46.4 |
| **Balance Sheet Data (Million pesos)** | **Dec-22** | **Sep-22** | **Dec-21** | **%QoQ** | **%YoY** | **Dec-22** | **Dec-21** | **Dec-21** | **%YoY** |
| Total assets | 1844169 | 1932290 | 1639652 | (4.6) | 12.5 | 1844170 | 1639652 | 1639652 | 12.5 |
| Total loans | 810081 | 802319 | 750966 | 1 | 7.9 | 810081 | 750966 | 750966 | 7.9 |
| Deposits | 837389 | 765555 | 783118 | 9.4 | 6.9 | 837389 | 783118 | 783118 | 6.9 |
| Shareholders´ equity | 166308 | 159284 | 165894 | 4.4 | 0.2 | 166308 | 165894 | 165894 | 0.2 |
| **Key Ratios (%)** | **4Q22** | **3Q22** | **4Q21** | **bps QoQ** | **bps YoY** | **12M22** | **12M21** | **12M21** | **bps YoY** |
| Net interest margin | 5.28 | 4.94 | 4.46 | 34 | 82 | 4.88 | 4.51 | 4.51 | 37 |
| Net loans to deposits ratio | 94.39 | 102.28 | 92.94 | (789) | 145 | 94.39 | 92.94 | 92.94 | 145 |
| ROAE | 15.12 | 20.14 | 12.92 | (502) | 220 | 15.94 | 11.13 | 11.13 | 481 |
| ROAA | 1.44 | 1.83 | 1.20 | (39) | 24 | 1.52 | 1.03 | 1.03 | 49 |
| Efficiency ratio | 48.01 | 46.28 | 56.00 | 173 | (799) | 47.09 | 50.39 | 50.39 | (330) |
| Capital ratio | 19.38 | 18.90 | 21.56 | 48 | (218) | 19.38 | 21.56 | 21.56 | (218) |
| NPLs ratio | 1.88 | 2.01 | 2.18 | (13) |  | 1.88 | 2.18 | 2.18 |  |
| Cost of Risk | 1.56 | 1.54 | 2.90 | 2 | (134) | 1.56 | 2.90 | 2.90 | (134) |
| Coverage ratio | 145.82 | 133.58 | 141.38 | 1224 |  | 145.82 | 141.38 | 141.38 |  |
| **Operating Data** | **Dec-22** | **Sep-22** | **Dec-21** | **%QoQ** | **%YoY** | **Dec-22** | **Dec-21** | **Dec-21** | **%YoY** |
| Branches | 1037 | 1036 | 1036 | 0.1 | 0.1 | 1037 | 1037 | 1036 | 0.1 |
| Branches and offices2 | 1345 | 1344 | 1346 | 0.1 | (0.1) | 1345 | 1345 | 1346 | (0.1) |
| ATMs | 9689 | 9601 | 9498 | 0.9 | 2 | 9689 | 9689 | 9498 | 2 |
| Customers | 21338060 | 20875006 | 19664670 | 2.2 | 8.5 | 21338060 | 21338060 | 19664669 | 8.5 |
| Employees | 25990 | 26069 | 25276 | (0.3) | 2.8 | 25990 | 25990 | 25276 | 2.8 |

---

1) Accumulated EPS, net of treasury shares (compensation plan) and discontinued operations. Calculated by using weighted number of shares.

2) Includes cash desks (espacios select, box select and corner select) and SMEs business centers. Excluding brokerage house offices.

II. CEO Message

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| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 2 |

---

**Felipe García, Banco Santander México Executive President and CEO, commented:** "*I am very pleased to share with you that we reported net income growth of 46% YoY and 24% higher than the pre-pandemic level in 2019.*

 

*During the fourth quarter, we maintained solid performance levels in our core businesses while maintaining excellent asset quality throughout the loan portfolio. Total loans grew almost 8% year on year, with strong performance across our entire loan book (except for SMEs). In individual loans, we had a solid increase compared to last year, mainly due to double-digit growth in credit cards, payroll, and auto loans.* 

*In terms of deposits, we continue executing our strategy to attract and retain individual clients while letting go of some expensive corporate deposits. Also, it is worth noting that at the end of 2022, we achieved the greatest exposure to individual clients now contributing 41.4% of total deposits, a significant increase from 24.2% at the beginning of 2016. However, we are still far from where we want to be, so we will continue to focus on it until we are able to achieve a similar mix to what relevant peers have in the Mexican market.* 

*Also, during 2022, we achieved first place ever in the Local Debt Capital Market, with 60 issuances and reaching a market share of ~25% equivalent to an amount of Ps.80 billion pesos, demonstrating the significant trust from our clients in our execution capabilities. Our goal is to offer the best customer experience in both, the advisory business and the retail business.*

*In terms of financial inclusion, we are very proud of our leadership in the region and the positive impact we have made on our customers through Tuiio. As of the end of 2022, we have helped more than 390 thousand low-income customers, to support inclusive growth through financial empowerment and education. Thanks to these loans, 65% of our clients have experienced improvements in their lives in personal and economic terms.* 

*During 2023, we will continue advancing our strategic priorities, enhancing our products, digital offerings, distribution network, and, most importantly, the overall customer experience. Although we have made good progress with our bank's operational transformation, we are nevertheless mindful that we must step up the pace in working toward our goal of building a much stronger franchise and becoming the best banking option in Mexico."*

III. Summary of 4Q22 Consolidated Results

*In accordance with the General Procedures applicable to Credit Institutions (Disposiciones de Carácter General Aplicables a las Instituciones de Crédito), effective as of January 1, 2022, new local accounting standards based on IFRS-9 entered into effect, approaching the convergence to IFRS international standards. Therefore, the Bank's financial statements for the first, second, third and fourth quarter of 2022 and their summaries are not comparable with the financial statements for the first, second, third and fourth quarter of 2021, mainly in the consolidated statement of comprehensive income. The financial statements for those quarters and their summaries are presented jointly, only for illustrative purposes.* 

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 3 |

---

**<u>Loan portfolio</u>**

Banco Santander México's total loan portfolio (before "deferred items"), as of December 2022, increased 7.9% YoY, or Ps.59,115 million, to Ps.810,081 million, and 1.0%, or Ps.7,762 million, on a sequential basis.

During the quarter, total loan portfolio reflected YoY strong growth, showing solid performance in individual loans, mainly due to double-digit growth in credit cards, payroll and auto loans. While loan volumes in the commercial portfolio were driven by increases of middle-market companies and financial entities.

![](image_002.jpg)

**<u>Deposits</u>**

Deposits, which represent 85.4% of Banco Santander México's total funding<sup>1</sup>, increased 6.9% YoY in December 2022, to Ps.837,389 million. In turn, demand deposits decreased 2.1% YoY, mainly due to a 5.8% drop in corporate demand deposits, as the Bank continued working to improve its funding costs, prioritizing individual deposits and foregoing certain expensive corporate deposits. It is worth noting that demand deposits from individuals increased 4.2% YoY, supported by the Bank's promotional campaigns; while time deposits increased 30.2% YoY, reflecting higher interest rate environment. On a sequential basis, demand deposits increased 5.6%, while time deposits grew 17.4%.

In December 2022, demand deposits from individuals represented 39.2% of total demand deposits, compared with 36.8% in December 2021. Time deposits from individuals represented 45.8% of total time deposits, compared with 43.4% a year ago. Total deposits from individuals is at its best mix ever, representing 41.4% of total deposits, compared with 38.6% in December 2021.

The loans-to-deposits ratio stood at 94.39% in December 2022, which compares to 92.94% in December 2021, and 102.28% in September 2022, maintaining a healthy funding position.

![](image_003.jpg)

**<u>Net income</u>**

Banco Santander México reported 4Q22 net income of Ps.6,277 million, representing an increase of 19.7% YoY, and a decrease of 23.3% sequentially. The YoY increase was mainly due to the solid increase in NII and fees, along with lower expenses resulting from disciplined cost control. On a cumulative basis, net income for 12M22 reached Ps.26,476 million, representing a 46.4% YoY increase.

<sup>1</sup> Total funding includes: deposits, credit instruments issued, bank and other loans and subordinated credit notes.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 4 |

---

![](image_005.jpg)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Consolidated statement of comprehensive income** | **Consolidated statement of comprehensive income** | **Consolidated statement of comprehensive income** | **Consolidated statement of comprehensive income** | **Consolidated statement of comprehensive income** | **Consolidated statement of comprehensive income** | **Consolidated statement of comprehensive income** | **Consolidated statement of comprehensive income** | **Consolidated statement of comprehensive income** |
| Million pesos |  |  |  | **% Variation** | **% Variation** |  |  | **% Variation** |
|  | **4Q22** | **3Q22** | **4Q21** | **QoQ** | **YoY** | **12M22** | **12M21** | **22/21** |
| Net interest income | 19945 | 18370 | 16046 | 8.6 | 24.3 | 72008 | 63085 | 14.1 |
| Provisions for loan losses | (4712) | (785) | (4289) |  | 9.9 | (12227) | (20817) | (41.3) |
| **Net interest income after provisions for loan losses** | **15233** | **17585** | **11757** | **(13.4)** | **29.6** | **59781** | **42268** | **41.4** |
| Commission and fee income, net | 5118 | 5271 | 4760 | (2.9) | 7.5 | 20544 | 18982 | 8.2 |
| Net gain (loss) on financial assets and liabilities | 1028 | 1056 | 1342 | (2.7) | (23.4) | 4186 | 5031 | (16.8) |
| Other operating income | (449) | (2225) | 416 | (79.8) |  | (6874) | (1304) |  |
| Administrative and promotional expenses | (12310) | (10400) | (12636) | 18.4 | (2.6) | (42313) | (43235) | (2.1) |
| **Operating income** | **8620** | **11287** | **5639** | **(23.6)** | **52.9** | **35324** | **21742** | **62.5** |
| Equity in results of associated companies |  |  | 30 | 0.0 | (100.0) | 324 | 200 | 62.0 |
| **Operating income before income taxes** | **8620** | **11287** | **5669** | **(23.6)** | **52.1** | **35648** | **21942** | **62.5** |
| Income taxes (net) | (2343) | (3099) | (424) | (24.4) |  | (9172) | (3862) | 137.5 |
| **Net income** | **6277** | **8188** | **5245** | **(23.3)** | **19.7** | **26476** | **18080** | **46.4** |
| **Effective tax rate (%)** | **27.18** | **27.46** | **7.48** |  |  | 25.73 | 17.60 |  |
| **Other comprehensive income** | **1423** | **(327)** | **-** | **—** |  | **(5697)** | **-** |  |
| Valuation of financial instruments to collect or sell | 1677 | 112 |  |  |  | (4388) |  |  |
| Valuation of derivatives financial instruments for cash flow hedges | 98 | (425) |  | (123.1) |  | (813) |  |  |
| Remeasurement of defined benefit obligation | (352) | (14) |  |  |  | (496) |  |  |
| **Participation in ORI of other entities** | **-** | **-** |  |  |  |  |  |  |
| **Integral result** | **7700** | **7861** |  | **(2.0)** |  | **20779** |  |  |
| **Net result attributable to:** | **6277** | **8188** |  | **(23.3)** |  | **26476** |  |  |
| controlling interest | 6277 | 8188 |  | (23.3) |  | 26476 |  |  |
| Non-controlling interest |  |  |  |  |  |  |  |  |
| **Comprehensive income attributable to:** | **7700** | **7861** |  | **(2.0)** |  | **20779** |  |  |
| controlling interest | 7700 | 7861 |  | (2.0) |  | 20779 |  |  |
| Non-controlling interest |  |  |  |  |  |  |  |  |
| **Basic earnings per common share** | **0.92** | **1.21** | - | **(24.0)** |  | **3.90** | - |  |

---

**<u>4Q22 vs 4Q21</u>**

The 19.7% year-on-year increase in net income was principally driven by:

&nbsp;&nbsp;&nbsp;&nbsp;i) A 24.3%, or Ps.3,899 million, increase in net interest income, mainly driven by the greater Bank's
focus on individual loans and deposits, as well as the higher interest rate environment. During 4Q22, Banxico increased the reference
rate by 125 bps to 10.50%;

ii) A 7.5%, or Ps.358 million, increase in net commissions and fees, mainly due to increases in insurance fees and account management, couple with lower other commissions and fees paid and lower banks correspondents commissions paid; and

iii) A 2.6%, or Ps.326 million, decrease in administrative and promotional expenses, mainly due to the reclassification of contributions to IPAB to other operating income (expenses) in connection with the general procedures

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 5 |

---

applicable to credit institutions effective as of January 1, 2022 and a decrease in depreciation and amortization, partially offset by increases in personnel expenses, other expenses and taxes and duties.

The increase in net income was partially offset by:

&nbsp;&nbsp;&nbsp;&nbsp;i) A Ps1,919 million, increase in income taxes, which resulted in a 27.18% effective tax rate for the quarter,
compared to 7.48% in 4Q21;

ii) A Ps.865 million, increase in other operating expenses, mainly due to the reclassification of contributions to IPAB from administrative and promotional expenses, as mentioned above, together with an extraordinary income from sale of acquiring business contracts booked in 4Q21 and partially offset by a reversal of provisions for legal expenses and costs related to portfolio recoveries during 4Q22;

iii) A 9.9%, or Ps.423 million, increase in provisions for loan losses, reflecting healthy trends across the total loan portfolio;

iv) A 23.4%, or Ps.314 million, decrease in net gains on financial assets and liabilities; and

&nbsp;&nbsp;&nbsp;&nbsp;v) A Ps.30 million, decrease in the results of associated companies due to the recognition of GetNet México
investment.

**<u>12M22 vs 12M21</u>**

The 46.4% year-on-year increase in net income was principally driven by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. A 14.1%, or Ps.8,923 million, increase in net interest income, mainly driven by the greater Bank's
focus on individual loans and deposits, as well as higher interest rates. During 12M22, Banxico increased the reference rate by 500 bps
to 10.50%;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. A 41.3%, or Ps.8,590 million, decrease in provisions for loan losses, mainly driven by the release of
provisions related to certain large corporates during 12M22 and a higher base in 12M21, as the Bank booked additional loan loss provisions
to certain customers and faced higher write-offs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. A 8.2%, or Ps.1,562 million, increase in net commissions and fees, mainly due to increases in insurance
fees, account management, debit and credit card fees and lower banks correspondents commissions paid;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. A 2.1%, or Ps.922 million, decrease in administrative and promotional expenses, mainly due to the reclassification
of contributions to IPAB to other operating income (expenses) and lower leasehold expenses, partly offset by increases in personnel expenses,
other expenses, depreciation and amortization, taxes and duties, professional fees and collection services; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. A 62.0%, or Ps.124 million, increase in the results of associated companies due to the recognition of
GetNet Mexico investment.

The increase in net income was partially offset by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. A Ps.5,570 million, increase in other operating expenses, mainly due to the reclassification of contributions to IPAB from administrative
and promotional expenses and higher provisions for legal and tax contingencies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. A 137.5%, or Ps.5,310 million, increase in income taxes, which resulted in a 25.73% effective tax rate in 12M22, compared to 17.60%
in 12M21; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. A 16.8%, or Ps.845 million, decrease in net gains on financial assets and liabilities.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 6 |

---

**<u>Gross operating income</u>**

Banco Santander México's gross operating income for 4Q22 totaled Ps.26,091 million, representing increases of 17.8% YoY, or Ps.3,943 million, and 5.6% QoQ, or Ps.1,394 million. The YoY increase was driven by the solid performance in net interest income, supported by the greater focus of the Bank on individual loans and deposits and higher fees, which more than offset lower market related income. Gross operating income for 12M22 amounted Ps.96,738 million, increasing 11.1% YoY, or Ps.9,640 million.

Gross operating income is broken down as follows.

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Breakdown gross operating Income (%)** | **Breakdown gross operating Income (%)** | **Breakdown gross operating Income (%)** | **Breakdown gross operating Income (%)** | **Breakdown gross operating Income (%)** | **Breakdown gross operating Income (%)** | **Breakdown gross operating Income (%)** | **Breakdown gross operating Income (%)** | **Breakdown gross operating Income (%)** |
|  | | | | **Variation (bps)** | **Variation (bps)** | | | **Variation (bps)** |
|  | <br> **4Q22** | <br>**3Q22** | <br>**4Q21** | **QoQ** | **YoY** | <br>**12M22** | <br>**12M21** | **YoY** |
| Net Interest Income | 76.44 | 74.38 | 72.45 | 206 | 399 | 74.43 | 72.43 | 200 |
| Net Commissions and Fees | 19.62 | 21.34 | 21.49 | (172) | (187) | 21.24 | 21.79 | (55) |
| Market related revenue | 3.94 | 4.28 | 6.06 | (34) | (212) | 4.33 | 5.78 | (145) |
| **Gross Operating Income\*** | **100.00** | **100.00** | **100.00** |  |  | **100.00** | **100.00** |  |

---

\*Does not include other income

**<u>Return on average equity (ROAE)</u>**

ROAE for 4Q22 increased 220 basis points to 15.12%, from 12.92% reported in 4Q21 and decreased 502 basis points from 20.14% in 3Q22. For 12M22, ROAE stood at 15.94%, 481 basis points higher than the 11.13% reported in 12M21. ROAE was driven by the Bank's greater exposure to individuals, both in credit and deposits, along with excellent risk management.

![](image_006.jpg)

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 7 |

---

**<u>Strategic initiatives and commercial actions</u>**

Banco Santander Mexico is one of the leading financial groups in the country with a longstanding commitment to innovation, technology services, and continued development. The Bank keeps strengthening and positioning itself as a market leader in value-added products and services by developing proper product offerings and servicing models for mass-market clients and simplifying processes and operations in order to improve customer service quality. Banco Santander Mexico will continue working on its digital transformation by reinforcing digital communication with the aim of expanding digital customers and channels, while strengthening client loyalty of active customers through cross-selling products and increasing satisfaction levels, within the intention of providing the best customer experience in Mexico.

The most relevant aspects of the fourth quarter are highlighted below:

⮚ The Bank's strategic priorities are complemented by a new breadth of products and services, which will allow it to cater to its customers more comprehensively.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ The "LikeU" credit card continues
to have excellent market acceptance. Since its launch in September of last 2021, the Bank has issued +822 thousand LikeU cards with +91%
of active cards. Currently, around 13% of total billing comes from LikeU. In addition, in September 2022, all LikeU credit card users
and almost 5 million payroll customers were automatically enrolled in the new "Cash Back Baby" program and are benefiting
through its unique offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ In September 2022, the Bank launched its newest
recurring program "Cash Back Baby" which is the latest loyalty program that the Bank launched. With this program, customers
will receive a percentage of money back automatically, without registration, and at no cost. The benefit cap is $10,000 pesos per year
for the LikeU Credit Card; while for the Debit Card linked to payroll is $5,000 pesos per year. If the customer has both products, they
will receive the benefits corresponding to each one.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ During 2022, Banco Santander executed 60 issuances
in the Local Debt Capital Market, reaching a market share of ~25% equivalent to an amount of $80,221 million pesos, achieving first place
ever in volume placed in DCM.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Santander Mexico recently announced that between
2023 and 2025 will invest $500 million dollars each year, for a total of $1.5 billion dollars in this period to continue with the Bank's
digital and technological transformation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Santander Mexico is preparing the launch of its
digital bank in the country under the name of Openbank, a business that has been operating for several years in Spain and has spread to
other places such as Netherlands, Germany, Portugal and Argentina, aiming at attracting more digital customers. Currently, the Bank is
waiting for regulator´s approval.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ The consolidation of the Hipoteca Online digital
platform continued, being the only platform in Mexico that connects end to end all processes. In the quarter, the platform processed 97%
of transactions digitally. As of 4Q22, around 56% of new originations came through Hipoteca Plus, which helps to

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| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 8 |

---

drive cross-selling products, and 41% through Hipoteca Free. Besides, Hipoteca Integral, the Bank's latest mortgage is reaching a segment of the population that was underserved, recognizing the total income of families (fixed and variable income). Santander continues to be the only bank in Mexico that offers a tailored interest rate based on the client's profile.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ The
Bank continues to increase the number of its digital and mobile clients by 9% YoY and 10%, respectively. Besides, the ratio of loyal
customers continues to grow, now loyal clients represent 45% of active clients (vs 41% in the same quarter of 2021). Moreover, digital
transactions now account for more than 49% of total transactions, increasing by 6.3 pp compared to December 2021. As of December 2022,
62% of product sales were made through digital channels, compared to 56% a year ago.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Customers** | **Customers** | **Customers** | **Customers** | **Customers** | **Customers** |
| (Thousands) |  |  |  | **% Variation** | **% Variation** |
|  | **Dec-22** | **Sep-22** | **Dec-21** | **QoQ** | **YoY** |
| Loyal Customers<sup>1</sup> | 4328 | 4214 | 3895 | 2.7 | 11.1 |
| Digital Customers<sup>2</sup> | 6029 | 5813 | 5544 | 3.7 | 8.8 |
| Mobile Customers<sup>3</sup> | 5772 | 5547 | 5252 | 4.1 | 9.9 |

---

**<sup>1</sup> Loyal customers =** Clients with non-zero balance and depending on the segment should have between two and four products and between three and ten transactions in the last 90 days.

**<sup>2</sup> Digital customers =** Clients with at least one digital transaction per month in SuperNet or SuperMóvil.

**<sup>3</sup> Mobile customers =** Clients using Supermóvil and/or Superwallet in the last 30 days.

**<u>Responsible Banking</u>**

For Santander, being sustainable means taking into account the communities where we are present –the people and companies that make them up–, in order to generate continuous and profitable social progress at an economic, environmental, and ethical level. Santander Mexico's commitments to Responsible Banking are an example of its continuous efforts to guarantee a sustainable future for all. Operations are carried out in an ethical and transparent manner to ensure proper compliance with commitments. The Bank focuses on promoting financial inclusion, equity, the social development of communities, education, and care for the environment.

The Bank seeks to become a leading participant in contributing to the progress of people and companies in Mexico and all the countries where it operates. In this regard, it works on two main challenges: New Business Environment and Inclusive and Sustainable Growth.

The objective of the New Business Environment is for Santander employees to feel in a responsible, simple, diverse, and inclusive work environment, where leadership and commitment follow the Simple, Personal, and Fair culture while designing products focused on the client.

The goal to achieve Inclusive and Sustainable Growth aims to invest in the Bank's community, financially empowering people, supporting higher education through scholarships and leaving a minimal environmental footprint while incentivizing ESG products across all business units. For more details, please visit the Responsible Banking section on the investor relations website.

As a result of these efforts, Banco Santander Mexico has achieved the following recognitions throughout the year:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· On January 2023, Banco Santander Mexico obtained
the Customer Protection Certification at the Silver level assigned by the MicroFinanza Rating (MFR) for its TUIIO initiative, making it
the only financial inclusion and microfinance initiative with this certification of customer protection policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Banco Santander Mexico was the best-positioned
bank in the country within the Dow Jones Sustainability Index MILA Pacific Alliance 2022, which measures the performance of issuers in
the Chilean, Colombian, Mexican and Peruvian markets chosen according to ESG criteria. In total, 68 companies from the Latin American
region, 24 of them Mexican, are part of this indicator, which include different lines of business, where Santander stands out as the best
bank in Mexico in the 2022 evaluation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Banco Santander Mexico received the "HRC
Equidad MX 2023" Certification, which accredits it as one of the best places to work for LGBTQ+ equality, due to its inclusion and
equity policies. Santander was awarded for having met all the categories criteria that were required for this year, reaching the 100 points
established by the Global Labor Equity Program in Mexico.

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| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 9 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Santander has been named Bank of the Year in Financial
Inclusion by The Banker magazine, which recognizes the entity's initiatives in responsible and sustainable banking to grow by serving
"people and companies without access to financial services throughout the world with its initiative "Finanzas for All",
a comprehensive set of services that combines digitization with financial education," according to the magazine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Banco Santander is committed to providing access
to financial services to 10 million people between 2019 and 2025 through microfinance products, financial education programs and other
tools that provide access to financial services based on three main pillars: access, financing and resilience.

These are some indexes and recognitions that evaluate the Bank's performance across economic, environmental, and social issues:

![](image_145.jpg)

These are only some examples of the Bank's effort to become a more responsible bank. For further information about Banco Santander México as a Responsible Bank go to:

https://servicios.santander.com.mx/comprometidos/eng/index.php

IV. Analysis of 4Q22 Consolidated Results

(Amounts expressed in millions of pesos, except where otherwise stated)

**<u>Loan portfolio</u>**

As of December 2022, the evolution of the total loan portfolio (before "deferred items") reflected YoY strong growth, showing solid performance in individual loans, mainly due to double-digit growth in credit cards, payroll and auto loans. Mortgage loans continued expanding at a solid pace organically. While loan volumes in the commercial portfolio were driven by increases of middle-market companies and financial entities, despite soft SME loan demand.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 10 |

---

As a result, total loan portfolio increased 7.9% YoY, or Ps.59,115 million, to Ps.810,081 million in December 2022. On a sequential basis, total loan portfolio increased 1.0%, or Ps.7,762 million.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio Breakdown** | **Portfolio Breakdown** | **Portfolio Breakdown** | **Portfolio Breakdown** | **Portfolio Breakdown** | **Portfolio Breakdown** |
| Million pesos | Million pesos | Million pesos |  | **% Variation** | **% Variation** |
|  | **Dec-22** | **Sep-22** | **Dec-21** | **QoQ** | **YoY** |
| **Commercial** | **450168** | **453257** | **435364** | **(0.7)** | **3.4** |
| Middle-market | 216946 | 227820 | 200834 | (4.8) | 8.0 |
| Corporates | 83358 | 74578 | 84447 | 11.8 | (1.3) |
| SMEs | 51063 | 52509 | 55787 | (2.8) | (8.5) |
| Government & Financial Entities | 98801 | 98350 | 94296 | 0.5 | 4.8 |
| **Individuals** | **359913** | **349062** | **315602** | **3.1** | **14.0** |
| Consumer | 149106 | 141358 | 121762 | 5.5 | 22.5 |
| Credit cards | 64350 | 60571 | 53405 | 6.2 | 20.5 |
| Other consumer | 84756 | 80787 | 68357 | 4.9 | 24.0 |
| Mortgages | 210807 | 207704 | 193840 | 1.5 | 8.8 |
| **Total** | **810081** | **802319** | **750966** | **1.0** | **7.9** |

---

![](image_013.jpg)

The **commercial loan portfolio** is comprised of loans to business and commercial entities, as well as loans to government entities and financial institutions, and represented 55.6% of the total loan portfolio. Excluding loans to government entities and financial institutions, the commercial loan portfolio accounted for 43.4% of the total. Middle-market, Corporate and SME loans represented 26.8%, 10.3% and 6.3% of the total loan portfolio, respectively.

The **individuals loan portfolio**, comprised of mortgages, consumer and credit card loans, represented 44.4% of the total loan portfolio. Mortgage, consumer and credit card loans, represented 26.0%, 10.5% and 7.9% of the total loan portfolio, respectively.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Loan portfolio breakdown by stages** | **Loan portfolio breakdown by stages** | **Loan portfolio breakdown by stages** | | |
| Million pesos |  |  |  |  |
|  | **Dec-22** | **%** | **Sep-22** | **%** |
| **Stage 1** |  |  |  |  |
| **Commercial** | **423276** | **52.3** | **431052** | **53.7** |
| **Individuals** | **337449** | **41.7** | **325171** | **40.5** |
| Consumer | 141916 | 17.5 | 134104 | 16.7 |
| Credit cards | 60731 | 7.5 | 56709 | 7.1 |
| Other consumer | 81185 | 10.0 | 77395 | 9.6 |
| Mortgages | 195533 | 24.1 | 191067 | 23.8 |
| **Total stage 1** | **760725** | **93.9** | **756223** | **94.3** |
| **Stage 2** |  |  |  |  |
| **Commercial** | **21742** | **2.7** | **17618** | **2.2** |
| **Individuals** | **12376** | **1.5** | **12384** | **1.5** |
| Consumer | 3448 | 0.4 | 3270 | 0.4 |

---

---

| | | |
|:---|:---|:---|
| **Loan portfolio breakdown** | | |
| Million pesos |  |  |
|  | **Dec-21** | **%** |
| **Performing loans** |  |  |
| **Commercial** | **430969** | **57.4** |
| **Individuals** | **303606** | **40.4** |
| Consumer | 117995 | 15.7 |
| Credit cards | 51502 | 6.9 |
| Other consumer | 66493 | 8.9 |
| Mortgages | 185611 | 24.7 |
| **Total performing loans** | **734575** | **97.8** |
| **Non-performing loans** |  |  |
| **Commercial** | **4395** | **0.6** |
| **Individuals** | **11996** | **1.6** |
| Consumer | 3767 | 0.5 |
| Credit cards | 1902 | 0.3 |
| Other consumer | 1865 | 0.2 |
| Mortgages | 8229 | 1.1 |
| **Total non-performing loans** | **16391** | **2.2** |
| **Total loan portfolio** |  |  |
| **Commercial** | **435364** | **58.0** |
| **Individuals** | **315602** | **42.0** |
| Consumer | 121762 | 16.2 |
| Credit cards | 53405 | 7.1 |
| Other consumer | 68357 | 9.1 |
| Mortgages | 193840 | 25.8 |
| **Total loan portfolio** | **750966** | **100.0** |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 11 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Credit cards | 1872 | 0.2 | 1762 | 0.2 |
| Other consumer | 1576 | 0.2 | 1508 | 0.2 |
| Mortgages | 8928 | 1.1 | 9114 | 1.1 |
| **Total stage 2** | **34118** | **4.2** | **30002** | **3.7** |
| **Stage 3** |  |  |  |  |
| **Commercial** | **5150** | **0.6** | **4587** | **0.6** |
| **Individuals** | **10088** | **1.2** | **11507** | **1.4** |
| Consumer | 3742 | 0.5 | 3984 | 0.5 |
| Credit cards | 1747 | 0.2 | 2100 | 0.3 |
| Other consumer | 1995 | 0.2 | 1884 | 0.2 |
| Mortgages | 6346 | 0.8 | 7523 | 0.9 |
| **Total stage 3** | **15238** | **1.9** | **16094** | **2.0** |
| **Total loan portfolio** |  |  |  |  |
| **Commercial** | **450168** | **55.6** | **453257** | **56.5** |
| **Individuals** | **359913** | **44.4** | **349062** | **43.5** |
| Consumer | 149106 | 18.4 | 141358 | 17.6 |
| Credit cards | 64350 | 7.9 | 60571 | 7.5 |
| Other consumer | 84756 | 10.5 | 80787 | 10.1 |
| Mortgages | 210807 | 26.0 | 207704 | 25.9 |
| **Total loan portfolio** | **810081** | **100.0** | **802319** | **100.0** |

---

As of December 2022, commercial loans increased 3.4% YoY, or Ps.14,804 million, due to increases of 8.0%, or Ps.16,112 million in middle-market loans and 57.4%, or Ps.5,183 million in financial institutions loans. Meanwhile, SME, corporate and government entities loans, decreased, 8.5% YoY, or Ps.4,725 million, 1.3%, or Ps.1,089 million and 0.8%, or Ps.678 million, respectively. Sequentially, commercial loans decreased 0.7%, or Ps.3,089 million.

Mortgage loans continued showing strong growth, increasing 8.8% YoY, or Ps.16,967 million and 1.5%, or Ps.3,103 million sequentially, due to the Bank's innovative and competitive offering in mortgages. The "Hipoteca Plus" product remains the main driver behind this strong performance, accounting for 56% of total mortgage origination in the quarter, which also helps the Bank to increase cross-selling of other products, as well as build customer loyalty. In addition, the digital onboarding platform for mortgages, "Hipoteca Online", has allowed the Bank to be more efficient in terms of response times and eliminating the need for our customers to visit a branch, all resulting in a much better customer experience. During 4Q22, 97% of the mortgages were processed through this digital platform. However, the total mortgage loan portfolio is still affected by the run-off of acquired portfolios, excluding this effect, the mortgage portfolio would have increased 11.3% YoY.

Credit card loans continued growing at a solid pace, expanding 20.5% YoY, or Ps.10,945 million, and 6.2% QoQ, or Ps.3,779 million, reflecting an average usage increase of 8.8% YoY, and supported by the Bank's successful product "Like U". Currently, more than 12.5% of total billing comes from "Like U" credit cards.

It is worth noting that auto loans continued showing a strong performance, increasing 42.5% YoY, or Ps.7,750 million in December 2022 and a 10.2%, or Ps.2,399 million, sequentially. This was a result of the Bank's alliances with leading automakers in Mexico and supported by the "Super Auto Santander" platform. In addition, with the aim of expanding the business further, the Bank was very active in the used cars segment of the market. As of today, used car loans represent 10% of the total auto loan portfolio. According to the last information published by CNBV, as of November 2022, market share of the Bank in the auto business was 15.6% vs. 11.5% a year ago.

Payroll loans delivered a solid performance, increasing 20.8% YoY, or Ps.7,467 million in December 2022 and a 3.4%, or Ps.1,410 million, sequentially, while personal loans increased 7.9% YoY, or Ps.1,087 million in December 2022 and 1.0%, or Ps.150 million, sequentially, due to the Bank's improving offer, processes and benefits programs, among others.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 12 |

---

**<u>Total Deposits</u>**

Total deposits in December 2022 stood at Ps.837,389 million, an increase of 6.9%, or Ps.54,271 million. On a sequential basis, total deposits grew 9.4%, or Ps.71,834 million. Demand deposits reached Ps.551,913 million, decreasing 2.1% YoY, or Ps.11,921 million, while time deposits increased 30.2% YoY, or Ps.66,192 million. On a sequential basis, demand deposits increased 5.6% QoQ, or Ps.29,457 million, while time deposits increased 17.4% QoQ, or Ps.42,377 million. Deposits from individuals expanded 14.6% YoY, or Ps.44,252 million, and corporates increased 2.1% YoY, or Ps.10,019 million. The Bank continued working to improve its funding costs, prioritizing individual deposits and foregoing certain expensive corporate deposits.

![](image_014.jpg)

**<u>Net interest income</u>**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Net interest income** | | | | | | | | |
| Million pesos |  |  |  | **% Variation** | **% Variation** |  |  | **% Variation** |
|  | **4Q22** | **3Q22** | **4Q21** | **QoQ** | **YoY** | **12M22** | **12M21** | **22/21** |
| Interest on funds available | 1154 | 774 | 416 | 49.1 |  | 3008 | 1554 | 93.6 |
| Interest on margin accounts | 371 | 260 | 88 | 42.7 |  | 946 | 289 | 227.3 |
| Interest and yield on securities | 8732 | 7508 | 6020 | 16.3 | 45.0 | 29255 | 23162 | 26.3 |
| Interest and yield on loan portfolio – excluding credit cards | 22797 | 20638 | 15870 | 10.5 | 43.6 | 78774 | 60695 | 29.8 |
| Interest and yield on loan portfolio related to credit cards | 4241 | 3708 | 3170 | 14.4 | 33.8 | 14427 | 12175 | 18.5 |
| Commissions collected on loan originations | 153 | 142 | 143 | 7.7 | 7.0 | 562 | 573 | (1.9) |
| Interest and premium on sale and repurchase agreements and securities loans | 3325 | 2575 | 1141 | 29.1 |  | 8884 | 3546 | 150.5 |
| **Interest income** | **40773** | **35605** | **26848** | **14.5** | **51.9** | **135856** | **101994** | **33.2** |
| **Daily average interest- earnings assets** | **1509601** | **1487546** | **1440592** | **1.5** | **4.8** | **1474458** | **1399528** | **5.4** |
| Interest from customer deposits – demand deposits | (3434) | (2712) | (2224) | 26.6 | 54.4 | (11062) | (7806) | 41.7 |
| Interest from customer deposits – time deposits | (6077) | (4527) | (2403) | 34.2 |  | (16986) | (8939) | 90.0 |
| Interest from credit instruments issued | (1500) | (1561) | (1231) | (3.9) | 21.9 | (5791) | (4755) | 21.8 |
| Interest on bank and other loans | (1112) | (924) | (593) | 20.3 | 87.5 | (3310) | (2078) | 59.3 |
| Interest on subordinated capital notes | (402) | (414) | (427) | (2.9) | (5.9) | (1646) | (1668) | (1.3) |
| Others | (192) | (152) | 0 | 26.3 | 100.0 | (659) | 0 | 100.0 |
| Interest and premium on sale and repurchase agreements and securities loans | (8111) | (6945) | (3924) | 16.8 | 106.7 | (24394) | (13663) | 78.5 |
| **Interest expense** | **(20828)** | **(17235)** | **(10802)** | **20.8** | **92.8** | **(63848)** | **(38909)** | **64.1** |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 13 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Daily average interest-bearing liabilities** | **1331714** | **1313713** | **1264541** | **1.4** | **5.3** | **1295321** | **1242346** | **4.3** |
| **Net interest income** | **19945** | **18370** | **16046** | **8.6** | **24.3** | **72008** | **63085** | **14.1** |

---

Net interest income in 4Q22 totaled Ps.19,945 million, increasing 24.3% YoY, or Ps.3,899 million, and 8.6% QoQ, or Ps.1,575 million.

The 24.3% YoY increase in net interest income resulted from the combination of:

&nbsp;&nbsp;&nbsp;&nbsp;i) A 51.9%, or Ps.13,925 million, increase in interest income, to Ps.40,773 million, which resulted from
the combined effect of a 328 basis points increase in the average interest rate received and a 4.8%, or Ps.69,009 million, increase in
average interest-earning assets; and

ii) A 92.8%, or Ps.10,026 million, increase in interest expense, to Ps.20,828 million, stemming from a 278 basis points increase in the average interest rate paid and a 5.3%, or Ps.67,173 million, increase in interest-bearing liabilities.

The net interest margin ratio (NIM), calculated using daily average interest-earning assets for 4Q22, stood at 5.28%, compared to 4.46% in 4Q21 and 4.94% in 3Q22. The YoY increase in NIM was principally driven by the expansion of retail volumes in loans and deposits, as well as higher interest rates. On a cumulative basis, NIM for 12M22 reached 4.88%, an increase of 37 basis points from 12M21.

![](image_015.jpg)

**<u>Interest Income</u>**

Total average interest earning assets in 4Q22 amounted to Ps.1,509,601 million, increasing 4.8% YoY, or Ps.69,009 million, mainly driven by increases of 11.9% YoY, or Ps.86,264 million, in the average loan portfolio, a 79.2% YoY, or Ps.78,303 million, in repurchase agreements, and a 11.8% YoY, or Ps.2,294 million, in margin accounts, partly offset by decreases of 15.1% YoY, or Ps.78,499 million, in the average amount of investment in securities and a 25.4% YoY, or Ps.19,353 million in the average amount of funds available. Banco Santander México's interest earning assets are broken down as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Average Assets (Interest-Earnings Assets)** | **Average Assets (Interest-Earnings Assets)** | **Average Assets (Interest-Earnings Assets)** | **Average Assets (Interest-Earnings Assets)** | **Average Assets (Interest-Earnings Assets)** | **Average Assets (Interest-Earnings Assets)** |
| **Breakdown (%)** | | | | | |
|  | **4Q21** | **1Q22** | **2Q22** | **3Q22** | **4Q22** |
| Loan portfolio | 50.3 | 53.0 | 52.8 | 52.8 | 53.8 |
| Investment in securities | 36.2 | 34.6 | 33.1 | 31.6 | 29.3 |
| Funds available | 5.3 | 4.7 | 4.3 | 4.0 | 3.8 |
| Repurchase agreements | 6.9 | 6.4 | 8.4 | 10.2 | 11.7 |
| Margin accounts | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 |
| **Total** | **100.0** | **100.0** | **100.0** | **100.0** | **100.0** |

---

Banco Santander México's interest income consists mainly of interest from the loan portfolio and commissions on loan originations, which in 4Q22 generated Ps.27,191 million and accounted for 66.7% of total interest income. The remaining interest income of Ps.13,582 million is broken down as follows: 21.4% from investment in securities, 8.2% from repurchase agreements, 2.8% from funds available, and 0.9% from margin accounts.

Interest income for 4Q22 increased 51.9%, or Ps.13,925 million YoY, to Ps.40,773 million, reflecting higher interest income from total loan portfolio, investment in securities, repurchase agreements, funds available and margin

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 14 |

---

accounts, which increased 42.0%, or Ps.7,998 million, 45.0%, or Ps.2,712 million, Ps.2,184 million, Ps.738 million and Ps.283 million, respectively.

The average interest yield on interest-earning assets in 4Q22 stood at 10.57%, increasing 328 basis points from 7.29% in 4Q21. Sequentially, the average interest yield on interest-earning assets increased 120 basis points from 9.37% in 3Q22.

In 4Q22, the average interest rate on the total loan portfolio stood at 13.04%, an increase of 277 basis points YoY. Relative to 4Q21, the average reference rate (TIIE28) increased 485 basis points. The average interest rate on the commercial loan portfolio stood at 11.04%, an increase of 391 basis points YoY, while the yield of the credit card loan portfolio stood at 26.05%, an increase of 261 basis points YoY, the yield of consumer loan portfolio stood at 23.36%, an increase of 77 basis points YoY and the average interest rate on the mortgage loan portfolio stood at 9.36%, an increase of 13 basis points YoY. While the average interest rate on the investment in securities portfolio stood at 7.73%, increasing 321 basis points YoY.

![](image_016.jpg)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest income** | | | | | | | | | |
| Million Pesos | **4Q22** | **4Q22** | **4Q22** | **4Q21** | **4Q21** | **4Q21** | **Var YoY** | **Var YoY** | **Var YoY** |
|  | **Average Balance** | **Interest** | **Yield (%)** | **Average Balance** | **Interest** | **Yield (%)** | **Average Balance** | **Interest (%)** | **Yield (bps)** |
| Funds available | 56885 | 1154 | 7.94 | 76238 | 416 | 2.14 | (25.4) | 177.4 | 580 |
| Margin accounts | 21777 | 371 | 6.67 | 19483 | 88 | 1.77 | 11.8 | 321.6 | 490 |
| Investment in securities | 442293 | 8732 | 7.73 | 520792 | 6020 | 4.52 | (15.1) | 45.0 | 321 |
| Loan portfolio | 811484 | 27038 | 13.04 | 725220 | 19040 | 10.27 | 11.9 | 42.0 | 277 |
| Commissions collected on loan originations |  | 153 |  |  | 143 |  |  | 7.0 |  |
| Sale and repurchase agreements and securities loans | 177162 | 3325 | 7.34 | 98859 | 1141 | 4.52 | 79.2 | 191.4 | 282 |
| **Interest income** | **1509601** | **40773** | **10.57** | **1440592** | **26848** | **7.29** | **4.8** | **51.9** | **328** |

---

Interest income from the total loan portfolio increased 42.0%, or Ps.7,998 million, which resulted from the combined effect of a 11.9%, or Ps.86,264 million, increase in average loan portfolio volume, and a 277 basis points increase in the average interest rate. The increase in interest income from the loan portfolio resulted from the following YoY combined effects by product:

▪ Commercial:
9.7%, or Ps.40,526 million increase, with a 11.04% interest yield, which increased 391 bps;

▪ Mortgages:
9.9%, or Ps.18,757 million increase, with a 9.36% interest yield, which increased 13 bps;

▪ Consumer:
24.6%, or Ps.16,212 million increase, with a 23.36% interest yield, which increased 77 bps; and

▪ Credit
Cards: 20.3%, or Ps.10,769 million increase, with a 26.05% interest yield, which increased 261 bps.

Interest income from investment in securities increased 45.0% YoY, or Ps.2,712 million, which resulted from the combined effect of a 321 basis points increase in the average interest rate, and a decrease of 15.1%, or Ps.78,499 million, in average volume. Interest income from repurchase agreements increased Ps.2,184 million, which resulted from the increase of 79.2%, or Ps.78,303 million, in average volume, and a 282 basis points increase in the average interest rate.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 15 |

---

**<u>Interest expense</u>**

Total average interest-bearing liabilities amounted to Ps.1,331,714 million, increasing 5.3% YoY, or Ps.67,173 million, and were driven by increases of 21.9%, or Ps.53,252 million, in time deposits, and a 11.0%, or Ps.37,118 million, in repurchase agreements. These increases were partly offset by decreases of 3.3%, or Ps.17,808 million, in demand deposits, 7.9%, or Ps.3,117 million, in bank and other loans, 5.4%, or Ps.1,455 million, in subordinated capital notes, and 1.0%, or Ps.817 million, in credit instruments issued.

Banco Santander México's interest-bearing liabilities are broken down as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Average liabilities (interest-bearing liabilities)** | **Average liabilities (interest-bearing liabilities)** | **Average liabilities (interest-bearing liabilities)** | **Average liabilities (interest-bearing liabilities)** | **Average liabilities (interest-bearing liabilities)** | **Average liabilities (interest-bearing liabilities)** |
| **Breakdown (%)** | | | | | |
|  | **4Q21** | **1Q22** | **2Q22** | **3Q22** | **4Q22** |
| Demand deposits | 42.4 | 42.2 | 41.9 | 38.7 | 39.0 |
| Sale and repurchase agreements and securities loans | 26.7 | 25.3 | 25.7 | 27.9 | 28.1 |
| Time deposits | 19.3 | 20.6 | 20.3 | 21.3 | 22.3 |
| Credit instruments issued | 6.4 | 6.8 | 6.9 | 7.1 | 6.0 |
| Bank and other loans | 3.1 | 3.0 | 3.2 | 3.0 | 2.7 |
| Subordinated capital notes | 2.1 | 2.1 | 2.0 | 2.0 | 1.9 |
| **Total** | **100.0** | **100.0** | **100.0** | **100.0** | **100.0** |

---

Banco Santander México's interest expense consists mainly of interest paid on customer deposits and repurchase agreements, which in 4Q22 amounted to Ps.9,511 million and Ps.8,111 million, respectively, accounting for 45.7% and 38.9% of interest expenses. The remaining Ps.3,206 million was paid as follows: 7.2% on credit instruments issued, 5.4% on bank and other loans, 1.9% on subordinated capital notes, and 0.9% on other interest expenses.

Interest expense for 4Q22 increased 92.8% YoY, or Ps.10,026 million, to Ps.20,828 million, mainly driven by higher interest expenses on repurchase agreements, time deposits, demand deposits, bank and other loans, credit instruments issued and other interest expenses.

The average interest rate on interest-bearing liabilities increased 278 basis points to 6.12% in 4Q22. For 4Q22, the average interest rate on the main sources of funding increased YoY as follows:

&nbsp;&nbsp;&nbsp;&nbsp;▪ 416 basis points in time deposits, at an average
interest rate paid of 8.02%;

&nbsp;&nbsp;&nbsp;&nbsp;▪ 392 basis points in repurchase agreements, at
an average interest rate paid of 8.47%; and

&nbsp;&nbsp;&nbsp;&nbsp;▪ 97 basis points in demand deposits, at an average
interest rate paid of 2.59%.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 16 |

---

![](image_017.jpg)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest expense** | **Interest expense** | **Interest expense** | **Interest expense** | **Interest expense** | **Interest expense** | **Interest expense** | **Interest expense** | **Interest expense** | **Interest expense** |
| Million pesos | **4Q22** | **4Q22** | **4Q22** | **4Q21** | **4Q21** | **4Q21** | **Var YoY** | **Var YoY** | **Var YoY** |
|  | **Average Balance** | **Interest** | **Yield (%)** | **Average Balance** | **Interest** | **Yield (%)** | **Average Balance** | **Interest (%)** | **Yield (bps)** |
| Demand deposits | 518831 | 3434 | 2.59 | 536639 | 2224 | 1.62 | (3.3) | 54.4 | 97 |
| Time deposits | 296641 | 6077 | 8.02 | 243389 | 2403 | 3.86 | 21.9 | 152.9 | 416 |
| Credit instruments issued | 79644 | 1500 | 7.37 | 80461 | 1231 | 5.99 | (1.0) | 21.9 | 138 |
| Bank and other loans | 36390 | 1112 | 11.96 | 39507 | 593 | 5.87 | (7.9) | 87.5 | 609 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 17 |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Subordinated capital notes | 25520 | 402 | 6.16 | 26975 | 427 | 6.19 | (5.4) | (5.9) | (3) |
| Sale and repurchase agreements and securities loans | 374688 | 8111 | 8.47 | 337570 | 3924 | 4.55 | 11.0 | 106.7 | 392 |
| Other interest expenses |  | 192 |  |  |  |  |  |  |  |
| **Interest expense** | **1331714** | **20828** | **6.12** | **1264541** | **10802** | **3.34** | **5.3** | **92.8** | **278** |

---

Increases in individual deposits continued to reflect the Bank's focus on driving profitability and foregoing certain expensive corporate deposits in order to improve the cost of the deposits. The average balance of demand deposits decreased 3.3% YoY, or Ps.17,808 million, while the average balance of time deposits increased 21.9% YoY, or Ps.53,252 million. Interest paid on time deposits increased Ps.3,674 million YoY, and interest paid on demand deposits increased 54.4% YoY, or Ps.1,210 million.

**<u>Provisions for loan losses and asset quality</u>**

During 4Q22, provisions for loan losses amounted to Ps.4,712 million, which represented increases of 9.9% YoY, or Ps.423 million and Ps.3,927 million, on a sequential basis, the YoY increase reflected healthy trends across the total loan portfolio and the QoQ increase was driven by a low base in 3Q22 due to the release of provisions related to certain large corporates, together with a positive performance in the retail portfolio.

![](image_018.jpg)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Loan Loss Reserves** | **Loan Loss Reserves** | **Loan Loss Reserves** | **Loan Loss Reserves** | **Loan Loss Reserves** | **Loan Loss Reserves** | | | |
| Million pesos |  |  |  | **% Variation** | **% Variation** |  |  | **% Variation** |
|  | **4Q22** | **3Q22** | **4Q21** | **QoQ** | **YoY** | **12M22** | **12M21** | **YoY** |
| Commercial | 374 | (2809) | 1408 | (113.3) | (73.4) | (1497) | 7823 | (119.1) |
| Consumer | 3308 | 3207 | 2538 | 3.1 | 30.3 | 11507 | 11251 | 2.3 |
| Mortgages | 1030 | 387 | 343 |  |  | 2217 | 1743 | 27.2 |
| **Total** | **4712** | **785** | **4289** |  | **9.9** | **12227** | **20817** | **(41.3)** |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Cost of risk (%)** | **Cost of risk (%)** | **Cost of risk (%)** | **Cost of risk (%)** | **Cost of risk (%)** | **Cost of risk (%)** | | | |
| Million pesos |  |  |  | **Variation (bps)** | **Variation (bps)** |  |  | **Variation (bps)** |
|  | **4Q22** | **3Q22** | **4Q21** | **QoQ** | **YoY** | **12M22** | **12M21** | **YoY** |
| Commercial | (0.34) | (0.11) | 1.87 | (23) | (221) | (0.34) | 1.87 | (221) |
| Consumer | 8.55 | 8.39 | 9.66 | 16 | (111) | 8.55 | 9.66 | (111) |
| Mortgages | 1.09 | 0.77 | 0.95 | 32 | 14 | 1.09 | 0.95 | 14 |
| **Total** | **1.56** | **1.54** | **2.90** | **2** | **(134)** | **1.56** | **2.90** | **(134)** |

---

In accordance with the General Procedures applicable to Credit Institutions effective as of January 1, 2022, new local accounting standards based on IFRS-9 entered into effect, approaching the convergence to IFRS international standards. Therefore, the NPL ratio is not comparable with previous periods.

The stage 3 total loan portfolio in December 2022 stood at Ps.15,238 million, reflecting healthy trends across the loan portfolio and the adoption of the IFRS 9 methodology and Ps.16,094 as of September 2022, meanwhile the non-performing loans as of December 2021 stood at Ps.16,391 million.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 18 |

---

Consumer loan portfolio (including credit cards) NPL ratio in December 2022 stood at 2.51%, 3.09% in December 2021 and 2.82% in September 2022. At the same time, SME loans NPL stood at 1.70% in December 2022, 2.80% in December 2021 and 1.54% in September 2022. While commercial loans NPL ratio stood at 1.14% in December 2022, 1.01% in December 2021 and 1.01% in September 2022. Finally, mortgage loans NPL ratio stood at 3.01% in December 2022, 4.25% in December 2021 and 3.62% in September 2022.

The breakdown of the stage 3 total loan portfolio is as follows: mortgage loans 41.6%, commercial loans 33.8% and consumer loans (including credit cards) 24.6%.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Non-Performing loan ratio (%)** | **Non-Performing loan ratio (%)** | **Non-Performing loan ratio (%)** | **Non-Performing loan ratio (%)** | |
|  | | | | **Variation (bps)** |
|  | <br>**Dec-22** | <br>**Sep-22** | <br>**Dec-21** | **QoQ** |
| **Commercial** | **1.14** | **1.01** | **1.01** | **13** |
| SMEs | 1.70 | 1.54 | 2.80 | 16 |
| Others | 0.94 | 1.94 | 1.39 | (100) |
| **Individuals** |  |  |  |  |
| Consumer | 2.51 | 2.82 | 3.09 | (31) |
| Credit Card | 2.71 | 3.47 | 3.56 | (76) |
| Other consumer | 2.35 | 2.33 | 2.73 | 2 |
| Mortgages | 3.01 | 3.62 | 4.25 | (61) |
| **Total** | **1.88** | **2.01** | **2.18** | **(13)** |

---

The non-performing loans led to an NPL ratio of 1.88% in December 2022, a 2.18% in December 2021 and 2.01% in September 2022.

Finally, the coverage ratio as of December 2022 stood at 145.82%, 141.38% in December 2021 and 133.58% in September 2022.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 19 |

---

![](image_019.jpg)

**<u>Commission and fee income, net</u>**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Commission and fee income, net** | **Commission and fee income, net** | **Commission and fee income, net** | **Commission and fee income, net** | **Commission and fee income, net** | **Commission and fee income, net** | **Commission and fee income, net** | **Commission and fee income, net** | **Commission and fee income, net** |
| Million pesos |  |  |  | **% Variation** | **% Variation** |  |  | **% Variation** |
|  | **4Q22** | **3Q22** | **4Q21** | **QoQ** | **YoY** | **12M22** | **12M21** | **22/21** |
| **Commission and fee income** | **Commission and fee income** | **Commission and fee income** |  |  |  |  |  |  |
| Debit and credit card | 2952 | 2675 | 2610 | 10.4 | 13.1 | 10602 | 9363 | 13.2 |
| Account management | 755 | 768 | 671 | (1.7) | 12.5 | 3012 | 2593 | 16.2 |
| Collection services | 555 | 587 | 532 | (5.5) | 4.3 | 2359 | 2206 | 6.9 |
| Investment funds | 495 | 493 | 458 | 0.4 | 8.1 | 1900 | 1747 | 8.8 |
| Insurance | 1574 | 1545 | 1437 | 1.9 | 9.5 | 6204 | 5508 | 12.6 |
| Purchase-sale of securities and money market transactions | 237 | 269 | 211 | (11.9) | 12.3 | 1008 | 959 | 5.1 |
| Checks trading | 41 | 39 | 46 | 5.1 | (10.9) | 159 | 174 | (8.6) |
| Foreign trade | 281 | 382 | 319 | (26.4) | (11.9) | 1560 | 1495 | 4.3 |
| Financial advisory services | 293 | 406 | 412 | (27.8) | (28.9) | 1536 | 1440 | 6.7 |
| Other | 255 | 286 | 247 | (10.8) | 3.2 | 1018 | 953 | 6.8 |
| **Total** | **7438** | **7450** | **6943** | **(0.2)** | **7.1** | **29358** | **26438** | **11.0** |
| **Commission and fee expense** | **Commission and fee expense** | **Commission and fee expense** |  |  |  |  |  |  |
| Debit and credit card | (1533) | (1244) | (1180) | 23.2 | 29.9 | (4964) | (3937) | 26.1 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 20 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Investment funds | 0 | 0 | 0 | 0.0 | 0.0 | (1) | (1) | 0.0 |
| Insurance | 0 | 0 | 0 | 0.0 | 0.0 | 0 | (75) | (100.0) |
| Purchase-sale of securities and money market transactions | (58) | (54) | (62) | 7.4 | (6.5) | (237) | (182) | 30.2 |
| Checks trading | (17) | (17) | (12) | 0.0 | 41.7 | (68) | (48) | 41.7 |
| Financial advisory services | (36) | (13) | (134) |  | (73.1) | (138) | (142) | (2.8) |
| Bank Correspondents | (151) | (164) | (199) | (7.9) | (24.1) | (674) | (850) | (20.7) |
| Other | (525) | (687) | (596) | (23.6) | (11.9) | (2732) | (2221) | 23.0 |
| **Total** | **(2320)** | **(2179)** | **(2183)** | **6.5** | **6.3** | **(8814)** | **(7456)** | **18.2** |
| **Commission and fee income, net** | **Commission and fee income, net** | **Commission and fee income, net** | **Commission and fee income, net** |  |  |  |  |  |
| Debit and credit card | 1419 | 1431 | 1430 | (0.8) | (0.8) | 5638 | 5426 | 3.9 |
| Account management | 755 | 768 | 671 | (1.7) | 12.5 | 3012 | 2593 | 16.2 |
| Collection services | 555 | 587 | 532 | (5.5) | 4.3 | 2359 | 2206 | 6.9 |
| Investment funds | 495 | 493 | 458 | 0.4 | 8.1 | 1899 | 1746 | 8.8 |
| Insurance | 1574 | 1545 | 1437 | 1.9 | 9.5 | 6204 | 5433 | 14.2 |
| Purchase-sale of securities and money market transactions | 179 | 215 | 149 | (16.7) | 20.1 | 771 | 777 | (0.8) |
| Checks trading | 24 | 22 | 34 | 9.1 | (29.4) | 91 | 126 | (27.8) |
| Foreign trade | 281 | 382 | 319 | (26.4) | (11.9) | 1560 | 1495 | 4.3 |
| Financial advisory services | 257 | 393 | 278 | (34.6) | (7.6) | 1398 | 1298 | 7.7 |
| Bank Correspondents | (151) | (164) | (199) | (7.9) | (24.1) | (674) | (850) | (20.7) |
| Other | (270) | (401) | (349) | (32.7) | (22.6) | (1714) | (1268) | 35.2 |
| **Total** | **5118** | **5271** | **4760** | **(2.9)** | **7.5** | **20544** | **18982** | **8.2** |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 21 |

---

In 4Q22, net commission and fee income totaled Ps.5,118 million, which represented an increase of 7.5% YoY, or Ps.358 million, and a decrease sequentially of 2.9% or Ps.153 million. Commission and fee income increased 7.1% YoY, or Ps.495 million, to Ps.7,438 million in 4Q22, while commission and fee expense increased 6.3% YoY, or Ps.137 million, to Ps.2,320 million in 4Q22.

The main contributors to net commissions and fees were insurance fees, which accounted for 30.8% of the total, followed by credit and debit card fees, account management and collection services fees, which accounted for 27.7%, 14.8% and 10.8% of total commissions and fees, respectively.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Net commissions and fees** | | | | | |
| **Breakdown (%)** | | | | | |
|  | **4Q22** | **3Q22** | **4Q21** | **12M22** | **12M21** |
| Insurance | 30.8 | 29.3 | 30.2 | 30.2 | 28.6 |
| Debit and credit card | 27.7 | 27.1 | 30.0 | 27.4 | 28.6 |
| Account management | 14.8 | 14.6 | 14.1 | 14.7 | 13.7 |
| Collection services | 10.8 | 11.1 | 11.2 | 11.5 | 11.6 |
| Investment funds | 9.7 | 9.4 | 9.6 | 9.2 | 9.2 |
| Foreign trade | 5.5 | 7.2 | 6.7 | 7.6 | 7.9 |
| Financial advisory services | 5.0 | 7.5 | 5.8 | 6.8 | 6.8 |
| Purchase-sale of securities and money market transactions | 3.5 | 4.1 | 3.1 | 3.8 | 4.1 |
| Checks trading | 0.5 | 0.4 | 0.7 | 0.4 | 0.7 |
| Bank correspondents | (3.0) | (3.1) | (4.1) | (3.3) | (4.5) |
| Other | (5.3) | (7.6) | (7.3) | (8.3) | (6.7) |
| **Total** | **100.0** | **100.0** | **100.0** | **100.0** | **100.0** |

---

Net commissions and fees went up 7.5% YoY, or Ps.358 million in 4Q22, mostly as a result of:

&nbsp;&nbsp;&nbsp;&nbsp;i) A 9.5%, or Ps.137 million, increase in insurance fees;

ii) A 12.5%, or Ps.84 million, increase in account management;

iii) A 22.6%, or Ps.79 million, decrease in other commissions and fees paid; and

iv) A 24.1%, or Ps.48 million, decrease in banks correspondents fees paid.

On a cumulative basis, net commissions and fees amounted Ps.20,544 million in 12M22, reflecting a YoY increase of 8.2%, or Ps.1,562 million. Commission and fee income increased 11.0%, or Ps.2,920 million, while commission and fee expense increased 18.2%, or Ps.1,358 million.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 22 |

---

**<u>Net gain (loss) on financial assets and liabilities</u>**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Net gain (loss) on financial assets and liabilities** | **Net gain (loss) on financial assets and liabilities** | **Net gain (loss) on financial assets and liabilities** | **Net gain (loss) on financial assets and liabilities** | **Net gain (loss) on financial assets and liabilities** | **Net gain (loss) on financial assets and liabilities** | | | |
| Million pesos |  |  |  | **% Variation** | **% Variation** |  |  | **% Variation** |
|  | **4Q22** | **3Q22** | **4Q21** | **QoQ** | **YoY** | **12M22** | **12M21** | **22/21** |
| **Valuation** |  |  |  |  |  |  |  |  |
| Foreign exchange | (8248) | 9205 | 81 |  |  | 1267 | (1093) |  |
| Derivatives | (2830) | 992 | 1555 |  |  | 2676 | 5898 | (54.6) |
| Equity securities | 166 | 98 | 1 | (69.4) |  | 154 | 131 | 17.6 |
| Debt instruments | 2273 | (2442) | (2195) |  |  | (4927) | (9557) | 48.4 |
| **Valuation result** | **(8639)** | **7853** | **(558)** |  |  | **(830)** | **(4621)** | **82.0** |
| **Purchase / sale of securities** |  |  |  |  |  |  |  |  |
| Foreign exchange | 8389 | (9021) | 830 |  |  | (504) | 4430 | (111.4) |
| Derivatives | 956 | 1769 | 760 | 46.0 | (25.8) | 4338 | 3584 | 21.0 |
| Equity securities | 0 | 55 | 53 | 100.0 | 100.0 | 25 | 264 | (90.5) |
| Debt instruments | 322 | 400 | 257 | 19.5 | (25.3) | 1157 | 1374 | (15.8) |
| **Purchase - sale result** | **9667** | **(6797)** | **1900** |  |  | **5016** | **9652** | **(48.0)** |
| **Total** | **1028** | **1056** | **1342** | **2.7** | **23.4** | **4186** | **5031** | **(16.8)** |

---

In 4Q22, Banco Santander México reported a Ps.1,028 million net gain from financial assets and liabilities, which compares with a gain of Ps.1,342 million in 4Q21 and a gain of Ps.1,056 million in 3Q22.

The Ps.1,028 million net gain from financial assets and liabilities in the quarter is mostly a result of:

&nbsp;&nbsp;&nbsp;&nbsp;i) A Ps.9,667 million purchase-sale gain, related to a gains of Ps.8,389 million, Ps.956 million and Ps.322
million, in foreign exchange, derivatives and debt instruments, respectively; and

ii) A Ps.8,639 million valuation loss, which resulted from losses of Ps.8,248 million and Ps.2,830 million, in foreign exchange and derivatives, respectively. These losses were partly offset by a gains of Ps.2,273 million and Ps.166 million, in debt instruments and equity securities.

On a cumulative basis, net gain from financial assets and liabilities for 12M22, reached Ps.4,186 million, representing a decrease of 16.8% YoY, or Ps.845 million.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 23 |

---

**<u>Other operating expense</u>**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Other operating expense** | **Other operating expense** | **Other operating expense** | **Other operating expense** | **Other operating expense** | **Other operating expense** | **Other operating expense** | **Other operating expense** | **Other operating expense** |
| Million pesos |  |  |  | **% Variation** | **% Variation** |  |  | **% Variation** |
|  | **4Q22** | **3Q22** | **4Q21** | **QoQ** | **YoY** | **12M22** | **12M21** | **22/21** |
| Cancellation of liabilities and reserves | 50 | 25 | 139 | 100.0 | (64.0) | 128 | 244 | (47.5) |
| Interest on personnel loans | 81 | 80 | 58 | 1.3 | 39.7 | 299 | 203 | 47.3 |
| Fair value registration foreclosed assets | 196 | 0 | 0 | 100.0 | 100.0 | 196 | 0 | 100.0 |
| Allowance for losses on foreclosed assets | (36) | (19) | (23) | 89.5 | 56.5 | (27) | (47) | (42.6) |
| Profit from sale of foreclosed assets | 7 | 14 | 30 | (50.0) | (76.7) | 91 | 174 | (47.7) |
| Technical advisory and technology services | 51 | 33 | 7 | 54.5 | **—** | 176 | 68 | **—** |
| Portfolio recovery legal expenses and costs | 719 | (362) | (238) | **—** | **—** | (409) | (995) | (58.9) |
| Premiums paid on guarantees for SMEs loans portfolio | (211) | (239) | (276) | (11.7) | (23.6) | (1049) | (1138) | (7.8) |
| Write-offs and bankruptcies | (145) | (177) | (78) | (18.1) | 85.9 | (745) | (670) | 11.2 |
| Provision for legal and tax contingencies | (74) | (590) | (114) | (87.5) | (35.1) | (1501) | (292) | **—** |
| Income from sale of acquiring business contracts | 0 | 0 | 816 | 0.0 | (100.0) | 0 | 816 | (100.0) |
| Contributions to IPAB | (1005) | (993) | 0 | 1.2 | 100.0 | (3981) | 0 | 100.0 |
| Others | (82) | 3 | 95 | **—** | **—** | (52) | 333 | (115.6) |
| **Total** | **(449)** | **(2225)** | **416** | **(79.8)** | **—** | **(6874)** | **(1304)** | **—** |

---

Other operating expenses in 4Q22 totaled Ps.449 million, which compares with an income of Ps.416 million in 4Q21 and with an expense of Ps.2,225 million reported in 3Q22.

The Ps.865 million, YoY increase, in other operating expense in 4Q22, was mainly due to the reclassification of contributions to IPAB from administrative and promotional expenses for Ps.1,005 million, together with an extraordinary income from sale of acquiring business contracts booked in 4Q21 of Ps.816 million and partially offset by a reversal of provisions for legal expenses and costs related to portfolio recoveries during 4Q22 of Ps.957 million. The reclassification of contributions to IPAB from administrative and promotional expenses to other operating income (expenses) was due to the new accounting standards, applicable since January 2022.

On a cumulative basis, other operating expenses for 12M22, reached Ps.6,874 million, representing a Ps.5,570 million, YoY increase.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 24 |

---

**<u>Administrative and promotional expenses</u>**

Administrative and promotional expenses consist of personnel costs, such as payroll and benefits, promotion and advertising expenses, and other general expenses. Personnel expenses consist mainly of salaries, social security contributions, bonuses and a long-term incentive plan for the Bank's executives. Other general expenses are mainly related to technology and systems, administrative services - mainly outsourced in the areas of information technology - taxes and duties, professional fees, rental of properties and hardware, advertising and communication, surveillance and cash courier services, and expenses related to maintenance, conservation and repair, among others.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Administrative and promotional expenses** | **Administrative and promotional expenses** | **Administrative and promotional expenses** | **Administrative and promotional expenses** | **Administrative and promotional expenses** | **Administrative and promotional expenses** | | | |
| Million pesos |  |  |  | **% Variation** | **% Variation** |  |  | **% Variation** |
|  | **4Q22** | **3Q22** | **4Q21** | **QoQ** | **YoY** | **12M22** | **12M21** | **22/21** |
| Salaries and employee benefits | 6181 | 4986 | 5720 | 24.0 | 8.1 | 20278 | 18152 | 11.7 |
| Credit card operation | 47 | 35 | 3 | 34.3 | **—** | 147 | 146 | 0.7 |
| Professional fees | 335 | 264 | 359 | 26.9 | (6.7) | 1204 | 1053 | 14.3 |
| Leasehold | 670 | 575 | 703 | 16.5 | (4.7) | 2308 | 2587 | (10.8) |
| Promotional and advertising expenses | 220 | 181 | 247 | 21.5 | (10.9) | 829 | 757 | 9.5 |
| Taxes and duties | 410 | 519 | 308 | (21.0) | 33.1 | 2131 | 1969 | 8.2 |
| Technology services (IT) | 2022 | 1407 | 2057 | 43.7 | (1.7) | 6062 | 6079 | (0.3) |
| Depreciation and amortization | 1051 | 1335 | 1154 | (21.3) | (8.9) | 4901 | 4698 | 4.3 |
| Contributions to IPAB | 0 | 0 | 970 | 0.0 | (100.0) | 0 | 3801 | (100.0) |
| Cash protection | 404 | 337 | 330 | 19.9 | 22.4 | 1341 | 1237 | 8.4 |
| Others | 970 | 761 | 785 | 27.5 | 23.6 | 3112 | 2756 | 12.9 |
| **Total** | **12310** | **10400** | **12636** | **18.4** | **(2.6)** | **42313** | **43235** | **(2.1)** |

---

Banco Santander México's administrative and promotional expenses are broken down as follows

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Administrative and promotional expenses** | **Administrative and promotional expenses** | **Administrative and promotional expenses** | **Administrative and promotional expenses** |  |  |
| **Breakdown (%)** | **Breakdown (%)** | **Breakdown (%)** | **Breakdown (%)** | | |
|  | **4Q22** | **3Q22** | **4Q21** | **12M22** | **12M21** |
| Personnel | 50.2 | 47.9 | 45.3 | 47.9 | 42.0 |
| Technology services (IT) | 16.4 | 13.6 | 16.3 | 14.3 | 14.1 |
| Depreciation and amortization | 8.5 | 12.9 | 9.1 | 11.6 | 10.9 |
| Others | 7.9 | 7.3 | 6.3 | 7.4 | 6.4 |
| Leasehold | 5.5 | 5.6 | 5.6 | 5.5 | 5.9 |
| Taxes and duties | 3.3 | 5.0 | 2.4 | 5.0 | 4.6 |
| Cash protection | 3.3 | 3.2 | 2.6 | 3.2 | 2.9 |
| Professional fees | 2.7 | 2.5 | 2.8 | 2.8 | 2.4 |
| Promotional and advertising expenses | 1.8 | 1.7 | 2.0 | 2.0 | 1.8 |
| Credit card operation | 0.4 | 0.3 | 0.0 | 0.3 | 0.3 |
| IPAB |  |  | 7.7 |  | 8.7 |
| **Total** | **100.0** | **100.0** | **100.0** | **100.0** | **100.0** |

---

Administrative and promotional expenses in 4Q22 totaled Ps.12,310 million, compared to Ps.12,636 million in 4Q21 and Ps.10,400 million in 3Q22, decreasing 2.6% YoY, or Ps.326 million. Sequentially, the increase was 18.4%, or Ps.1,910 million.

The 2.6% YoY, or Ps.326 million, decrease in administrative and promotional expenses was mainly due to the following decreases:

&nbsp;&nbsp;&nbsp;&nbsp;i) A Ps.970 million, in contributions to IPAB, due to the reclassification to other operating income (expenses),
as mentioned above; and

ii) A 8.9%, or Ps.103 million, in depreciations and amortizations.

These decreases were partly offset by the following increases:

&nbsp;&nbsp;&nbsp;&nbsp;i) A 8.1%, or Ps.461 million, in salaries and employee benefits, mainly due to the recognition of provisions
for bonuses;

ii) A 23.6%, or Ps.185 million, in other expenses; and

iii) A 33.1%, or Ps.102 million, in taxes and duties.

The efficiency ratio for the quarter decreased 799 basis points YoY and increased 173 basis points QoQ to 48.01%. The YoY decrease reflected solid revenue growth and strict cost controls, despite inflationary pressures.

The recurrence ratio for 4Q22 was 41.58%, up from 37.67% in 4Q21 and down from 50.68% reported in 3Q22.

On a cumulative basis, administrative and promotional expenses in 12M22 amounted Ps.42,313 million, reflecting a decrease of 2.1%, or Ps.922 million. The efficiency ratio for 12M22 decreased 330 basis points YoY from 50.39% in 12M21 to 47.09% in 12M22.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 25 |

---

![](image_020.jpg)

**<u>Profit before taxes</u>**

Profit before taxes in 4Q22 was Ps.8,620 million, reflecting increase of 52.1% YoY, or Ps.2,951 million, and decrease of 23.6% QoQ, or Ps.2,667 million, reflecting the strong performance of the Bank core business.

On a cumulative basis, profit before taxes for 12M22 amounted Ps.35,648 million, reflecting a YoY increase of 62.5%, or Ps.13,706 million.

**<u>Income taxes</u>**

In 4Q22, Banco Santander México reported a tax expense of Ps.2,343 million compared to Ps.424 million in 4Q21 and Ps.3,099 million in 3Q22. The effective tax rate for the quarter was 27.18%, compared to 7.48% reported in 4Q21 and 27.46% in 3Q22.

On a cumulative basis, the effective tax rate for 12M22 stood at 25.73%, 813 basis points higher than the 17.60% for 12M21.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 26 |

---

![](image_021.jpg)

**<u>Capitalization and liquidity</u>**

---

| | | | |
|:---|:---|:---|:---|
| **Capitalization** | | | |
| Million pesos | **Dec-22** | **Sep-22** | **Dec-21** |
| CET1 | 103348 | 100673 | 116080 |
| Tier 1 | 117004 | 114762 | 140688 |
| Tier 2 | 26827 | 26562 | 27928 |
| **Total capital** | **143832** | **141324** | **168616** |
| **Risk-weighted assets** |  |  |  |
| Credit risk | 476538 | 484318 | 517698 |
| Credit, market and operational risk | 742079 | 747834 | 782050 |
| **Credit risk ratios:** |  |  |  |
| CET1 (%) | 21.69 | 20.79 | 22.42 |
| Tier 1 (%) | 24.55 | 23.70 | 27.18 |
| Tier 2 (%) | 5.63 | 5.48 | 5.39 |
| **Capitalization ratio (%)** | **30.18** | **29.18** | **32.57** |
| **Total capital ratios:** |  |  |  |
| CET1 (%) | 13.93 | 13.46 | 14.84 |
| Tier 1 (%) | 15.77 | 15.35 | 17.99 |
| Tier 2 (%) | 3.61 | 3.55 | 3.57 |
| **Capitalization ratio (%)** | **19.38** | **18.90** | **21.56** |

---

Banco Santander México's capital ratio at December 2022 was 19.38%, compared to 21.56% and 18.90% at December 2021 and September 2022, respectively. The 19.38% capital ratio was comprised of 13.93% of fundamental capital (CET1), 1.84% of additional capital (AT1), and 3.61% of complementary capital (Tier 2).

As of November 2022, Banco Santander México was classified in Category 1, in accordance with Article 134 Bis of the Mexican Banking Law, and the Bank remains in this category per the preliminary results dated December 31<sup>st</sup>, 2022, which is the most recent available analysis.

On July 28<sup>th</sup>, 2022 the Bank paid a cash dividend of Ps.8,838 million, or Ps.1.30 per share. In addition, on June 28<sup>th</sup>, 2022 the Bank paid a cash dividend of Ps.9,040 million, or Ps.1.33 per share.

**<u>Liquidity coverage ratio (LCR)</u>**

Pursuant to the regulatory requirements of Banxico and the Mexican National Banking and Securities Commission (*Comisión Nacional Bancaria y de Valores*, or "CNBV"), the average Liquidity Coverage Ratio (LCR or CCL by its Spanish acronym) for 4Q22 was 181.17%, which compares to 227.55% in 4Q21 and 181.11% in 3Q22. (Please refer to note 24 of this report).

**<u>Leverage ratio</u>**

In accordance with CNBV regulatory requirements, effective June 14, 2016, the leverage ratio was 7.13% for December 2022, 6.85% for September 2022, 7.13% for June 2022, 7.97% for March 2022 and 8.92% for December 2021.

This ratio is defined by regulators and is calculated by dividing core capital (according to Article 2 Bis 6 (CUB)) by adjusted assets (according to Article 1, II (CUB)).

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 27 |

---

V. Relevant Events, Transactions and Activities

**<u>Relevant Events</u>**

**Organizational changes** 

&nbsp;&nbsp;&nbsp;&nbsp;▪ On January 17, 2023, Banco Santander Mexico announced
the following appointments:

Juan Villafuerte, as Deputy General Director of Commercial Network, reporting to the Vice-presidency of Consumer, Commercial and Institution Business Banking, led by Fernando Quesada.

Oscar Hernando Moliner, as Deputy General Director of Operations and Processes, Oziel Sandoval Macías, as Deputy General Director of Corporate Resources and Recoveries, and Daniel Concepción Pérez, promoted to Deputy General Director of Technology, all of whom will continue to report to the Vice President of Administration and Finance, headed by Didier Mena.

&nbsp;&nbsp;&nbsp;&nbsp;▪ On December 22, 2022, Banco Santander Mexico announced
the appointments of Silvina Criado as Chief Financial Officer, reporting to Didier Mena, Vice President of Administration and Finance,
and Pablo Agote Alique as Chief Audit Executive.

**Merger of subsidiaries**

On November 30, 2022, Banco Santander Mexico reported that on that date it held its Extraordinary General Shareholders' Meeting at which it approved the merger of *Santander Consumo, S.A. de C.V., SOFOM, E.R., Grupo Financiero Santander México* and *Santander Servicios Especializados, S.A. de C.V.*, as extinguished merged companies, with Banco Santander Mexico.

The two companies were merged on December 31, 2021.

**Resolutions adopted by its General Extraordinary Shareholders' Meeting in connection with the Tender Offer**

On November 30, 2022, Banco Santander Mexico informed that on that date it held its Extraordinary General Shareholders' Meeting, at which the following resolutions were approved:

Subject to the completion of the tender offers in Mexico and the United States: deregistering the shares from the Mexican National Securities Registry (*Registro Nacional de Valores*) and from the U.S. Securities and Exchange Commission, along with the delisting of the shares from the Mexican Stock Exchange (*Bolsa Mexicana de Valores, S.A.B. de C.V.*) and from the New York Stock Exchange.

**Maturity and repayment in full of Senior Notes** 

On November 9, 2022, Banco Santander México announced that it fully repaid its U.S.$1.0 billion 4.125% senior notes, which matured on that date.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 28 |

---

**Special Shareholders' Meetings**

On October 24, 2022, Banco Santander México held its Special Shareholders' Meetings, and approved among other items:

▪ The integration of the Board of Directors as indicated
below:

---

| | |
|:---|:---|
| **Series "F" Independent Directors** | **Series "F" Independent Directors** |
| Laura Renné Diez Barroso Azcárraga | Chairwoman |
| Cesar Augusto Montemayor Zambrano | Director |
| Juan Ignacio Gallardo Thurlow | Alternate Director |
| Ángel Alverde Losada | Alternate Director |
| Alberto Torrado Martínez | Alternate Director |
| José Antonio Pérez Antón | Alternate Director |
| **Series "F" Non-Independent Directors** | **Series "F" Non-Independent Directors** |
| Felipe Francisco García Ascencio | Director |
| Héctor Blas Grisi Checa | Director |
| Magdalena Sofía Salarich Fernández de Valderrama | Director |
| Daniel Barriuso Rojo | Director |
| Ángel Rivera Congosto | Director |
| Didier Mena Campos | Alternate Director |
| Rodrigo Brand de Lara | Alternate Director |
| Pablo Fernando Quesada Gómez | Alternate Director |
| **Series "B"Independent Directors** | |
| Antonio Purón Mier y Terán | Director |
| Guillermo Jorge Quiroz Abed | Director |
| María de Lourdes Melgar Palacios | Director |
| Bárbara Garza Lagüera Gonda | Director |
| Melanie Elizabeth Devlyn Gómez | Alternate Director |
| Rogelio Zambrano Lozano | Alternate Director |
| Joaquín Vargas Guajardo | Alternate Director |
| Guillermo Francisco Vogel Hinojosa | Alternate Director |

---

**Banco Santander México informed that its Parent Company issued a material fact announcement in connection with the Tender Offer**

On October 21, 2022, Banco Santander, S.A., majority shareholder of Grupo Financiero Santander México, S.A de C.V., the controlling shareholder of Banco Santander México, announced its intention to make a cash tender offer to acquire all of the Bank's shares that it does not already own (3.76%) and to proceed with the shares' delisting. The offer is expected to be launched and settled in the first quarter of 2023 and it is subject to customary conditions, including obtaining regulatory authorizations.

**<u>Relevant Transactions</u>**

**Banco Santander México participated in the following transactions:**

The strategy to leverage the synergy between the Bank's different business lines is reflected in the following operations that were closed this quarter with the collaboration between the Corporate & Investment Banking (SCIB) and Corporate & Institutional Banking.

▪ **Financing** 

**Javer**, for a total amount of Ps.2,450 million with a five-year term. The Bank participated with Ps.400 million. Javer is a leading real estate company in Mexico.

**ENI,** the Bank executed the fifth disbursement of a non-recourse factoring agreement between ENI Mexico and Schlumberger. The total amount of the factoring facility was for US$50 million with an 18-month term. ENI is a leading Italian energy company.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 29 |

---

VI. Awards and Recognitions

**Santander Private Banking recognized as The Best private Banking in México by The Banker magazine** 

On November 4, 2022, Santander Private Banking was recognized, for the third consecutive year, as "The Best Private Banking" in Mexico by the prestigious magazine, The Banker based on its model of advisory services to customers on their personal investment needs through its range of products and services and innovation.

VII. Credit Ratings

On January 20 and 31, 2023, Fitch Ratings withdrew Santander Consumo's counterparty and Primary Servicer ratings, respectively. At the date of the withdrawal, the outlook on the ratings was Stable. The ratings were withdrawn because Santander Consumo effectively extinguished due to the merger with the Bank.

On December 1st, 2022, Fitch Ratings affirmed all Banco Santander México's credit ratings. The Outlook is Stable. On the same date, Fitch Ratings affirmed the ratings of Santander Consumo and Santander Inclusión Financiera (see table below).

---

| | | |
|:---|:---|:---|
| **Banco Santander México** | **Fitch Ratings** | **Moody's** |
| **<u>Global scale</u>** |  |  |
| **Foreign currency** |  |  |
| Long term | BBB+ | Baa1 |
| Short term | F2 | P-2 |
| **Local currency** |  |  |
| Long term | BBB+ | Baa1 |
| Short Term | F2 | P-2 |
| **<u>National scale</u>** |  |  |
| Long term | AAA(mex) | Aaa.mx |
| Short Term | F1+(mex) | Mx-1 |
| **Rating viability (VR)** | bbb- | N/A |
| Shareholder Support Rating | bbb+ | N/A |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 30 |

---

---

| | | |
|:---|:---|:---|
| **Counterparty risk Assessments (CR)** |  |  |
| Long Term | N/A | A3 (cr) |
| Short Term | N/A | P-2 (cr) |
| **Standalone BCA** | N/A | baa2 |
| **Standalone Adjusted BCA** | N/A | baa1 |
| **Outlook** | Stable | Stable |
| **<u>International Issuances</u>** |  |  |
| **Tier 2 Subordinated Capital Notes due 2028** | BBB- | Baa3 (hyb) |
| **Long Term Senior Unsecured Global Notes due 2025** | BBB+ | Baa1 |
| **Long Term Senior Unsecured Global Notes due 2022** | BBB+ | Baa1 |
| **Perpetual Subordinated Non-Preferred Contingent Convertible Additional Tier 1 Capital Notes (AT1)** |  |  |
| <u>Global Scale</u> |  |  |
| **Foreign currency** |  |  |
| Long term | BB | Ba1 (hyb) |

---

---

| | |
|:---|:---|
| **Santander Consumo** | **Fitch Ratings** |
| **<u>National Scale</u>** |  |
| Long term | AAA (mex) |
| Short Term | F1+ (mex) |
| **Outlook** | Stable |

---

---

| | |
|:---|:---|
| **Santander Inclusión Financiera** | **Fitch Ratings** |
| **<u>National Scale</u>** |  |
| Long term | AAA (mex) |
| Short Term | F1+ (mex) |
| **Outlook** | Stable |

---

**Notes:**

▪ BCA = Baseline Credit Assessment

▪ SSR = Shareholder Support Rating

▪ VR = Viability Rating

▪ SCP = Standalone Credit Profile

▪ CR= Counterparty Risk Assessments

N/A = Not applicable

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 31 |

---

VIII. 4Q22 Earnings Call Dial-In Information

---

| | |
|:---|:---|
| Date: | Friday, February 3<sup>rd</sup>, 2022 |
| Time: | 09:00 a.m. (MCT); 10:00 a.m. (US ET) |
| Dial-in Numbers: | 1-877-407-4018 US & Canada 1-201-689-8471 International & Mexico |
| Access Code: | Please ask for Santander México Earnings Call |
| Webcast: | https://viavid.webcasts.com/starthere.jsp?ei=1594162&tp_key=4d615e6eff |
| Replay: | Starting: Friday, February 3<sup>rd</sup>, 2022 at 1:00 p.m. (US ET) |
|  | Ending: Friday, February 10<sup>th</sup>, 2022 at 11:59 p.m. (US ET) |
|  | ET Dial-in number: 1-844-512-2921 US & Canada; 1-412-317-6671 International & Mexico Access Code: 13735674 |

---

**IX.Analyst Coverage**

Banco BTG Pactual, Barclays, BBVA, BofA ML, Bradesco BBI, Credit Suisse, Goldman Sachs, HSBC, Invex, Itau BBA Securities, J.P. Morgan, Nau Securities, Scotiabank, Signum Research and UBS.

https://www.santander.com.mx/ir/cobertura/

Santander México is covered by the above investment banks and research firms. Please note that any opinions, estimates or forecasts regarding the performance of Santander México issued by the research analysts of these firms reflect their own views, and therefore do not represent the opinions, estimates or forecasts of Santander México or its management. Although Santander México may refer to or distribute such statements, this does not imply that Santander México agrees with or endorses any information, conclusions or recommendations included therein.

**X.Definition of Ratios**

**ROAE:** Annualized net income divided by average equity

**Efficiency:** Annualized administrative and promotional expenses divided by annualized gross operating income (before administrative and promotional expenses and allowances).

**Recurrency:** Annualized net fees divided by annualized administrative and promotional expenses (net of amortizations and depreciations).

**NIM:** Financial margin divided by daily average interest earnings assets.

**Cost of risk:** Annualized provisions for loan losses divided by average loan portfolio

**Note:**

Annualized figures consider

&nbsp;&nbsp;&nbsp;&nbsp;· Quarterly ratio = 4Q22\*4

&nbsp;&nbsp;&nbsp;&nbsp;· Average figures are calculated using 4Q21 and 4Q22

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 32 |

---

**ABOUT BANCO SANTANDER MÉXICO (NYSE: BSMX; BMV: BSMX)**

Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México (Banco Santander México), one of Mexico's leading banking institutions, provides a wide range of financial and related services, including retail and commercial banking, financial advisory and other related investment activities. Banco Santander México offers a multichannel financial services platform focused on mid- to high-income individuals and small- to medium-sized enterprises, while also providing integrated financial services to larger multinational companies in Mexico. As of December 31<sup>st</sup>, 2022, Banco Santander México had total assets of Ps.1,844 billion under Mexican Banking GAAP and more than 21.3 million customers. Headquartered in Mexico City, the Company operates 1,345 branches and offices nationwide and has a total of 25,990 employees.

We, the undersigned under oath to tell the truth declare that, in the area of our corresponding functions, we prepared the information of Banco Santander México contained in this quarterly report, which to the best of our knowledge reasonably reflects its situation.

---

| | | |
|:---|:---|:---|
| **FELIPE GARCIA ASCENSIO** |  | **DIDIER MENA CAMPOS** |
| Chief Executive Officer |  | Vice-president of Administration and Finance |
| **EMILIO DE EUSEBIO SAIZ** | **JUAN CARLOS GARCÍA CONTRERAS** | **PABLO AGOTE ALIQUE** |
| Deputy General Director Financial Accounting and Control | Executive Director of Intervention | Chief Audit Executive |

---

*The financial information presented in this report has been obtained from the non-audited financial statements prepared in accordance with accounting principles and regulations prescribed by the CNBV applicable to Credit Institution which are subject to the supervision of the CNBV on accounting procedures, published in the Federal Official Gazette on January 31st, 2011. The exchange rate used to convert foreign currency transactions US$ to Mexican pesos is Ps.19.4715*

**INVESTOR RELATIONS CONTACT**

**Héctor Chávez Lopez – Managing Director - IRO**

+ 52 (55) 5269-1925

hchavez@santander.com.mx

**Investor Relations Team** 

investor@santander.com.mx

www.santander.com.mx

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 33 |

---

**LEGAL DISCLAIMER**

Banco Santander México cautions that this presentation may contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements could be found in various places throughout this presentation and include, without limitation, statements regarding our intent, belief, targets or current expectations in connection with: asset growth and sources of funding; growth of our fee-based business; expansion of our distribution network; financing plans; competition; impact of regulation and the interpretation thereof; action to modify or revoke our banking license; exposure to market risks including interest rate risk, foreign exchange risk and equity price risk; exposure to credit risks including credit default risk and settlement risk; projected capital expenditures; capitalization requirements and level of reserves; investment in our information technology platform; liquidity; trends affecting the economy generally; and trends affecting our financial condition and our results of operations. While these forward-looking statements represent our judgment and future expectations concerning the development of our business, many important factors could cause actual results to differ substantially from those anticipated in forward-looking statements. These factors include, among other things: changes in capital markets in general that may affect policies or attitudes towards lending to Mexico or Mexican companies; changes in economic conditions, in Mexico in particular, in the United States or globally; the monetary, foreign exchange and interest rate policies of the Mexican Central Bank (Banco de México); inflation; deflation; unemployment; unanticipated turbulence in interest rates; movements in foreign exchange rates; movements in equity prices or other rates or prices; changes in Mexican and foreign policies, legislation and regulations; changes in requirements to make contributions to, for the receipt of support from programs organized by or requiring deposits to be made or assessments observed or imposed by, the Mexican government; changes in taxes and tax laws; competition, changes in competition and pricing environments; our inability to hedge certain risks economically; economic conditions that affect consumer spending and the ability of customers to comply with obligations; the adequacy of allowance for impairment losses and other losses; increased default by borrowers; our inability to successfully and effectively integrate acquisitions or to evaluate risks arising from asset acquisitions; technological changes; changes in consumer spending and saving habits; increased costs; unanticipated increases in financing and other costs or the inability to obtain additional debt or equity financing on attractive terms; changes in, or failure to comply with, banking regulations or their interpretation; and certain other risk factors included in our annual report on Form 20-F. The risk factors and other key factors that we have indicated in our past and future filings and reports, including those with the U.S. Securities and Exchange Commission, could adversely affect our business and financial performance. The words "believe," "may," "will," "aim," "estimate," "continue," "anticipate," "intend," "expect," "forecast" and similar words are intended to identify forward-looking statements. You should not place undue reliance on such statements, which speak only as of the date they were made. We undertake no obligation to update publicly or to revise any forward-looking statements after we distribute this presentation because of new information, future events or other factors. In light of the risks and uncertainties described above, the future events and circumstances discussed herein might not occur and are not guarantees of future performance.

Note: The information contained in this presentation is not audited. Nevertheless, the consolidated accounts are prepared on the basis of the accounting principles and regulations prescribed by the Mexican National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores) for credit institutions, as amended (Mexican Banking GAAP). All figures presented are in millions of Mexican pesos, unless otherwise indicated. Historical figures are not adjusted by inflation.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 34 |

---

**XI.Consolidated Financial Statements**

**Banco Santander México**

▪ Consolidated
statement of financial position

▪ Consolidated
statement of comprehensive income

▪ Consolidated
statement of changes in stockholders' equity

▪ Consolidated
statement of cash flows

▪ Summary
of changes due to the initial recognition of 2022 accounting principles

The information contained in this report and the financial statements of the Bank subsidiaries may be consulted on the Internet website: www.santander.com.mx or through the following direct access:

http://www.santander.com.mx/ir/english/financial/quarterly.html

There is also information on Santander México on the CNBV website: https://www.gob.mx/cnbv

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 35 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Consolidated statement of financial position** |  |  |  |  |
| Million pesos |  |  |  |  |
|  | **2022** | **2022** | **2022** | **2022** |
|  | **Dic.** | **Sep** | **Jun** | **Mar** |
| **Assets** |  |  |  |  |
| **Cash and cash equivalents** | **93353** | **77121** | **79146** | **98783** |
| **Margin accounts (derivatives financial instruments)** | **6530** | **5039** | **4413** | **4353** |
| **Investments in financial instruments** | **470914** | **432737** | **481124** | **496918** |
| Trading financial instruments | 134212 | 94476 | 111098 | 120451 |
| Financial instruments to collect or sell | 314550 | 328408 | 358432 | 364951 |
| Financial instruments to collect principal and interest (securities)(net) | 22152 | 9853 | 11594 | 11516 |
| **Debtors under sale and repurchase agreements** | **121859** | **224118** | **80451** | **23614** |
| **Derivatives financial instruments** | **238644** | **268556** | **226069** | **197770** |
| Trading purposes | 228516 | 252394 | 213370 | 187150 |
| Hedging purposes | 10128 | 16162 | 12699 | 10620 |
| **Valuation adjustment for hedged financial assets** | **(27)** | **(44)** | **(29)** | **9** |
| **Loan portfolio with credit risk stage 1** |  |  |  |  |
| **Commercial loans** | **423276** | **431052** | **421633** | **421136** |
| Commercial or business activity loans | 324932 | 336077 | 325353 | 323485 |
| Loans to financial entities | 13761 | 14847 | 9908 | 7821 |
| Loans to government entities | 84583 | 80128 | 86372 | 89830 |
| **Consumer loans** | **141916** | **134104** | **127040** | **120173** |
| **Mortgage loans** | **195533** | **191067** | **187165** | **181591** |
| Medium and residential | 186366 | 181631 | 177762 | 171725 |
| Social interest | 586 | 268 | 31 | 4 |
| Loans acquired from Infonavit or Fovissste | 8581 | 9168 | 9372 | 9862 |
| **Total loan portfolio with credit risk stage 1** | **760725** | **756223** | **735838** | **722900** |
| **Loan portfolio with credit risk stage 2** |  |  |  |  |
| **Commercial loans** | **21742** | **17618** | **16754** | **15520** |
| Commercial or business activity loans | 21636 | 14594 | 15752 | 15520 |
| Loans to financial entities | 106 | 0 | 1002 | 0 |
| Loans to government entities | 0 | 3024 | 0 | 0 |
| **Consumer loans** | **3448** | **3270** | **3143** | **3025** |
| **Mortgage loans** | **8928** | **9114** | **7710** | **7508** |
| Medium and residential | 8643 | 8859 | 7347 | 7136 |
| Social interest | 5 | 0 | 0 | 0 |
| Loans acquired from Infonavit or Fovissste | 280 | 255 | 363 | 372 |
| **Total loan portfolio with credit risk stage 2** | **34118** | **30002** | **27607** | **26053** |
| **Loan portfolio with credit risk stage 3** |  |  |  |  |
| **Commercial loans** | **5150** | **4587** | **8536** | **9736** |
| Commercial or business activity loans | 4799 | 4236 | 7810 | 8929 |
| Loans to financial entities | 351 | 351 | 726 | 765 |
| Loans to government entities | 0 | 0 | 0 | 42 |
| **Consumer loans** | **3742** | **3984** | **3801** | **3475** |
| **Mortgage loans** | **6346** | **7523** | **7684** | **8276** |
| Medium and residential | 5745 | 6872 | 7016 | 7556 |
| Social interest | 5 | 5 | 6 | 6 |
| Loans acquired from Infonavit or Fovissste | 596 | 646 | 662 | 714 |
| **Total loan portfolio with credit risk stage 3** | **15238** | **16094** | **20021** | **21487** |
| **Loan portfolio** | **810081** | **802319** | **783466** | **770440** |
| **(+/-) Deferred items** | **2532** | **2180** | **2060** | **1811** |
| Allowance for loan losses | (22220) | (21498) | (24264) | (24630) |
| **Loan portfolio (net)** | **790393** | **783001** | **761262** | **747621** |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 36 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Total loan portfolio (net)** | **790393** | **783001** | **761262** | **747621** |
| **Other receivables (net)** | **62840** | **87282** | **87415** | **114320** |
| **Foreclosed assets (net)** | **962** | **436** | **438** | **202** |
| **Long-life assets held for sale or for distribution to owners** | **1586** | **1586** | **-** | **-** |
| **Advance payments and other assets (net)** | **3199** | **4442** | **4553** | **4065** |
| **Property, furniture and fixtures (net)** | **13622** | **12174** | **12462** | **12326** |
| **Rights of use assets for property, furniture and equipment (net)** | **6264** | **5509** | **5811** | **5999** |
| **Long-term investment in shares** | **90** | **90** | **1652** | **1577** |
| **Deferred income tax assets (net)** | **23258** | **21008** | **19499** | **17667** |
| **Intangible assets (net)** | **8947** | **7500** | **7274** | **7309** |
| **Goodwill** | **1735** | **1735** | **1735** | **1735** |
| **Total assets** | **1844169** | **1932290** | **1773275** | **1734268** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Consolidated statement of financial position** |  |  |  |  |
| Million pesos |  |  |  |  |
|  | **2022** | **2022** | **2022** | **2022** |
|  | **Dic.** | **Sep** | **Jun** | **Mar** |
| **Liabilities** |  |  |  |  |
| **Deposits** | **909890** | **860514** | **880816** | **873136** |
| Demand deposits | 549515 | 520079 | 556153 | 573918 |
| Time deposits – general public | 223048 | 189954 | 188793 | 181395 |
| Time deposits – money market | 62428 | 53145 | 44376 | 29592 |
| Credit instruments issued | 72501 | 94959 | 89206 | 86079 |
| Global Account uptake without movements | 2398 | 2377 | 2288 | 2152 |
| **Interbank loans and other organizations** | **30806** | **26446** | **35478** | **52164** |
| Demand loans | 324 | 1568 | 11280 | 24679 |
| Short-term loans | 16629 | 15574 | 14295 | 17207 |
| Long-term loans | 13853 | 9304 | 9903 | 10278 |
| **Creditors under sale and repurchase agreements** | **211878** | **225744** | **190364** | **183196** |
| **Securities lending** | **1** | **0** | **0** | **0** |
| **Collateral sold or pledged as guarantee** | **116104** | **199271** | **79047** | **26484** |
| Repurchase agreements | 87442 | 174130 | 49983 | 1675 |
| Securities loans | 28662 | 25141 | 29064 | 24809 |
| **Derivative financial instruments** | **235456** | **259723** | **219701** | **190922** |
| Trading purposes | 230995 | 256109 | 215266 | 184026 |
| Hedging purposes | 4461 | 3614 | 4435 | 6896 |
| **Valuation adjustment of financial liabilities hedging** | **(14)** | **(33)** | **(36)** | **(17)** |
| **Lease liabilities** | **6965** | **6212** | **6477** | **6648** |
| **Other payables** | **115913** | **144514** | **151047** | **188375** |
| Creditors from settlement of transactions | 43731 | 62088 | 73023 | 117853 |
| Payable for margin accounts | 189 | 46 | 221 | 156 |
| Payable for cash collateral received | 26861 | 40227 | 36811 | 31790 |
| Contributions payable | 1621 | 1491 | 1113 | 1042 |
| Sundry creditors and other payables | 43511 | 40662 | 39879 | 37534 |
| **Financial instruments that qualify as liabilities** | **39384** | **40240** | **40643** | **39763** |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 37 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Subordinated credit notes | 39384 | 40240 | 40643 | 39763 |
| **Employee benefits** | **11324** | **10110** | **9202** | **7063** |
| **Deferred revenues and other advances** | **154** | **265** | **361** | **432** |
| **Total liabilities** | **1677861** | **1773006** | **1613100** | **1568166** |
| **Stockholders' equity** |  |  |  |  |
| **Paid-in capital** | **34702** | **34702** | **34702** | **34702** |
| Capital stock | 29799 | 29799 | 29799 | 29799 |
| Share premium | 4903 | 4903 | 4903 | 4903 |
| **Other capital** | **131542** | **124542** | **125432** | **131370** |
| **Capital reserves** | **28200** | **28200** | **28200** | **26940** |
| **Accumulated results** | **112409** | **106999** | **107562** | **111094** |
| Retained earnings | 82868 | 83735 | 92486 | 102918 |
| Updating Results from previous years | 3065 | 3065 | 3065 | 3065 |
| Net income | 26476 | 20199 | 12011 | 5111 |
| **Other comprehensive income** | **(9067)** | **(10657)** | **(10330)** | **(6664)** |
| Valuation of financial instruments to collect or sell | (6312) | (8156) | (8268) | (5119) |
| Valuation of derivatives financial instruments for cash flow hedges | (414) | (512) | (87) | 314 |
| Remeasurement of defined benefit obligation | (2350) | (1998) | (1984) | (1868) |
| Cumulative translation effect | 9 | 9 | 9 | 9 |
| **Total controlling interest** | **166244** | **159244** | **160134** | **166072** |
| **Total non-controlling interest** | **64** | **40** | **41** | **30** |
| **Total stockholders´equity** | **166308** | **159284** | **160175** | **166102** |
| **Total liabilities and stockholders´ equity** | **1844169** | **1932290** | **1773275** | **1734268** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Consolidated statement of financial position** |  |  |  |  |
| Million pesos |  |  |  |  |
|  | **2021** | **2021** | **2021** | **2021** |
|  | **Dic** | **Sep** | **Jun** | **Mar** |
| **Assets** |  |  |  |  |
| **Funds available** | **80835** | **96797** | **113843** | **97483** |
| **Margin accounts (derivatives financial instruments)** | **6261** | **3938** | **5209** | **4017** |
| **Investment in securities** | **516562** | **511341** | **458685** | **558857** |
| Trading securities | 113313 | 134310 | 122957 | 204194 |
| Securities available for sale | 391796 | 365633 | 324353 | 343332 |
| Securities held to maturity | 11453 | 11398 | 11375 | 11331 |
| **Debtors under sale and repurchase agreements** | **2043** | **16493** | **39505** | **47713** |
| **Derivatives financial instruments** | **190722** | **198255** | **200890** | **228247** |
| Trading purposes | 179474 | 188043 | 193024 | 218097 |
| Hedging purposes | 11248 | 10212 | 7866 | 10150 |
| **Valuation adjustment for hedged financial assets** | **63** | **89** | **123** | **167** |
| **Performing loan portfolio** |  |  |  |  |
| **Commercial loans** | **430969** | **404239** | **405407** | **416942** |
| Commercial or business activity | 336740 | 318591 | 313657 | 318773 |
| Financial entities loans | 9035 | 7900 | 9943 | 10549 |
| Government entities loans | 85194 | 77748 | 81807 | 87620 |
| **Consumer loans** | **117995** | **111992** | **110756** | **107758** |
| **Mortgage loans** | **185611** | **179152** | **173759** | **168529** |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 38 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Medium and residential | 175017 | 169109 | 163425 | 157642 |
| Social interest | 4 | 5 | 5 | 6 |
| Credits acquired from Infonavit or Fovissste | 10590 | 10038 | 10329 | 10881 |
| Credits granted as agent of the federal government |  |  |  |  |
| **Total performing loan portfolio** | **734575** | **695383** | **689922** | **693229** |
| **Non-performing loan portfolio** |  |  |  |  |
| **Commercial loans** | **4395** | **7180** | **6673** | **6503** |
| Commercial or business activity | 4328 | 7180 | 6673 | 6503 |
| Government entities loans | 67 |  |  |  |
| **Consumer loans** | **3767** | **4074** | **4835** | **5536** |
| **Mortgage loans** | **8229** | **9122** | **8893** | **8721** |
| Medium and residential | 7655 | 7383 | 7119 | 6805 |
| Social interest | 7 | 7 | 8 | 9 |
| Credits acquired from Infonavit or Fovissste | 567 | 1732 | 1766 | 1907 |
| **Total non-performing portfolio** | **16391** | **20376** | **20401** | **20760** |
| **Total loan portfolio** | **750966** | **715759** | **710323** | **713989** |
| Allowance for loan losses | (23174) | (23955) | (24152) | (24937) |
| **Loan portfolio (net)** | **727792** | **691804** | **686171** | **689052** |
| **Other receivables (net)** | **69331** | **105849** | **84993** | **78686** |
| **Foreclosed assets (net)** | **212** | **118** | **106** | **92** |
| **Property, furniture and fixtures (net)** | **12760** | **11633** | **11868** | **12045** |
| **Long-term investment in shares** | **1470** | **2225** | **2182** | **1168** |
| **Deferred taxes and deferred profit sharing (net)** | **19351** | **19423** | **19432** | **19675** |
| **Deferred charges, advance payments and intangibles** | **12204** | **11128** | **11333** | **10903** |
| **Other** | **46** | **45** | **44** | **42** |
| **Total assets** | **1639652** | **1669138** | **1634384** | **1748298** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Consolidated statement of financial position** |  |  |  |  |
| Million pesos |  |  |  |  |
|  | **2021** | **2021** | **2021** | **2021** |
|  | **Dic** | **Sep** | **Jun** | **Mar** |
| **LIABILITIES** |  |  |  |  |
| **Deposits** | **868635** | **843310** | **840840** | **848345** |
| Demand deposits | 561716 | 561391 | 548636 | 536791 |
| Time deposits – general public | 203112 | 181822 | 178069 | 183904 |
| Time deposits – money market | 16172 | 21142 | 38058 | 45094 |
| Credit instruments issued | 85517 | 76974 | 74177 | 80718 |
| Global Account uptake without movements | 2118 | 1981 | 1900 | 1838 |
| **Interbank loans and other organizations** | **28770** | **33841** | **43321** | **42825** |
| Demand loans | 612 | 8276 | 14187 | 10960 |
| Short-term loans | 17371 | 14252 | 14895 | 17793 |
| Long-term loans | 10787 | 11313 | 14239 | 14072 |
| **Creditors under sale and repurchase agreements** | **196858** | **189565** | **175437** | **295632** |
| **Collateral sold or pledged as guarantee** | **20082** | **20841** | **29755** | **20952** |
| Repurchase agreements | 960 | 516 | 526 | 414 |
| Securities loans | 19122 | 20325 | 29229 | 20538 |
| **Derivative financial instruments** | **184872** | **196960** | **197271** | **223898** |
| Trading purposes | 176792 | 187632 | 187373 | 211768 |
| Hedging purposes | 8080 | 9328 | 9898 | 12130 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 39 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Valuation adjustment of financial liabilities hedging** | **-** | **-** | **(1)** | **-** |
| **Other payables** | **122179** | **167486** | **150840** | **119429** |
| Employee profit sharing payable | 253 | 157 | 211 | 437 |
| Creditors from settlement of transactions | 40908 | 94539 | 81831 | 49320 |
| Payable for margin accounts | 3 | 24 | 69 | 180 |
| Payable for cash collateral received | 26918 | 21505 | 21836 | 18883 |
| Sundry creditors and other payables | 54097 | 51261 | 46893 | 50609 |
| Subordinated credit notes | 51643 | 51379 | 36186 | 36757 |
| **Deferred revenues and other advances** | **719** | **736** | **794** | **806** |
| **Total liabilities** | **1473758** | **1504118** | **1474443** | **1588644** |
| **Stockholders' equity** |  |  |  |  |
| **Paid-in capital** | **34702** | **35097** | **35034** | **34976** |
| Capital stock | 29799 | 29799 | 29799 | 29799 |
| Share premium | 4903 | 5298 | 5235 | 5177 |
| **Other capital** | **131192** | **129923** | **124907** | **124678** |
| **Capital reserves** | **26940** | **26940** | **26940** | **25446** |
| Retained earnings | 89660 | 92932 | 93089 | 96673 |
| Result from valuation of available for sale securities, net | (2091) | (1755) | (1586) | 563 |
| Result from valuation of cash flow hedge instruments, net | 399 | 526 | 19 | 159 |
| Cumulative effect of conversion | 9 | 9 | 9 | 9 |
| Adjustment employees pension fund | (1854) | (1610) | (1606) | (1488) |
| Net income | 18080 | 12835 | 7992 | 3279 |
| Non-controlling interest | 49 | 46 | 50 | 37 |
| **Total stockholders´equity** | **165894** | **165020** | **159941** | **159654** |
| **Total liabilities and stockholders´ equity** | **1639652** | **1669138** | **1634384** | **1748298** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Consolidated statement of financial position** | **Consolidated statement of financial position** | **Consolidated statement of financial position** | **Consolidated statement of financial position** | **Consolidated statement of financial position** |
| Million pesos |  |  |  |  |
|  | **2022** | **2022** | **2022** | **2022** |
|  | **Dec** | **Sep** | **Jun** | **Mar** |
| **Memorandum accounts** |  |  |  |  |
| Contingent assets and liabilities | 134 | 119 | 143 | 122 |
| Credit commitments | 309298 | 304917 | 281539 | 267930 |
| **Assets in trust or under mandate** | **193187** | **188056** | **192596** | **195137** |
| Trusts | 190185 | 185837 | 190903 | 194055 |
| Mandates | 3002 | 2219 | 1693 | 1082 |
| Assets in custody or under administration | 1751075 | 1750349 | 1724515 | 1788495 |
| Collateral received | 154833 | 257346 | 117717 | 134178 |
| Collateral received and sold or pledged as guarantee | 93143 | 170930 | 46870 | 78775 |
| Investment banking transactions for third parties (net) | 367299 | 381284 | 307764 | 133083 |
| Uncollected accrued interest derived from loan portfolio with credit risk stage 3 | 704 | 912 | 930 | 975 |
| Other record accounts | 2018740 | 1969467 | 1904803 | 1860010 |
|  | **4888413** | **5023380** | **4576877** | **4458705** |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 40 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Consolidated statement of financial position** |  |  |  |  |
| Million pesos |  |  |  |  |
|  | **2021** | **2021** | **2021** | **2021** |
|  | **Dic** | **Sep** | **Jun** | **Mar** |
| **Memorandum accounts** |  |  |  |  |
| Contingent assets and liabilities | 155 | 110 | 85 | 70 |
| Credit commitments | 262925 | 258633 | 245992 | 243137 |
| **Assets in trust or under mandate** | **193650** | **190351** | **192877** | **192050** |
| Trusts | 192625 | 189540 | 192010 | 191155 |
| Mandates | 1025 | 811 | 867 | 895 |
| Assets in custody or under administration | 1812966 | 1781799 | 1752851 | 1726985 |
| Collateral received | 91971 | 108177 | 144093 | 77390 |
| Collateral received and sold or pledged as guarantee | 67450 | 67005 | 70738 | 4101 |
| Investment banking transactions for third parties (net) | 138110 | 104601 | 163891 | 135183 |
| Uncollected interest earned on past due loan portfolio | 994 | 977 | 957 | 944 |
| Other record accounts | 1862994 | 1815495 | 1780655 | 1772146 |
|  | **4431215** | **4327148** | **4352139** | **4152006** |

---

These consolidated financial statements were approved by the Board of Directors and signed on its behalf by

---

| | | |
|:---|:---|:---|
| **FELIPE GARCIA ASCENSIO** |  | **DIDIER MENA CAMPOS** |
| Chief Executive Officer |  | Vice-president of Administration and Finance |
| **EMILIO DE EUSEBIO SAIZ** | **JUAN CARLOS GARCÍA CONTRERAS** | **PABLO AGOTE ALIQUE** |
| Deputy General Director Financial Accounting and Control | Executive Director of Intervention | Chief Audit Executive |

---

The accompanying notes are part of these consolidated financial statements

www.santander.com.mx

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| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 41 |

---

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Consolidated statement of comprehensive income** | **Consolidated statement of comprehensive income** | **Consolidated statement of comprehensive income** | **Consolidated statement of comprehensive income** | **Consolidated statement of comprehensive income** | **Consolidated statement of comprehensive income** | **Consolidated statement of comprehensive income** | **Consolidated statement of comprehensive income** | **Consolidated statement of comprehensive income** | **Consolidated statement of comprehensive income** | **Consolidated statement of comprehensive income** |
| Million pesos |  |  |  |  |  |  |  |  |  |  |
|  | **2022** | **2022** | **2022** | **2022** | **2022** | **2021** | **2021** | **2021** | **2021** | **2021** |
|  | **12M** | **4Q** | **3Q** | **2Q** | **1Q** | **12M** | **4Q** | **3Q** | **2Q** | **1Q** |
| Interest income | 135856 | 40773 | 35605 | 31217 | 28261 | 101994 | 26848 | 24949 | 25098 | 25099 |
| Interest expense | (63848) | (20828) | (17235) | (13940) | (11845) | (38909) | (10802) | (9265) | (9328) | (9514) |
| **Net interest income** | **72008** | **19945** | **18370** | **17277** | **16416** | **63085** | **16046** | **15684** | **15770** | **15585** |
| Provisions for loan losses | (12227) | (4712) | (785) | (2856) | (3874) | (20817) | (4289) | (4385) | (5068) | (7075) |
| **Net interest income after provisions for loan losses** | **59781** | **15233** | **17585** | **14421** | **12542** | **42268** | **11757** | **11299** | **10702** | **8510** |
| Commission and fee income | 29358 | 7438 | 7450 | 7368 | 7102 | 26438 | 6943 | 6298 | 6662 | 6535 |
| Commission and fee expense | (8814) | (2320) | (2179) | (2089) | (2226) | (7456) | (2183) | (1851) | (1789) | (1633) |
| Net gain (loss) on financial assets and liabilities | 4186 | 1028 | 1056 | 1063 | 1039 | 5031 | 1342 | 1474 | 817 | 1398 |
| Other operating income | (6874) | (449) | (2225) | (1909) | (2291) | (1304) | 416 | (514) | (542) | (664) |
| Administrative and promotional expenses | (42313) | (12310) | (10400) | (10128) | (9475) | (43235) | (12636) | (10750) | (9955) | (9894) |
| **Operating income** | **35324** | **8620** | **11287** | **8726** | **6691** | **21742** | **5639** | **5956** | **5895** | **4252** |
| Equity in results of associated companies | 324 | 0 | 0 | 217 | 107 | 200 | 30 | 43 | 50 | 77 |
| **Operating income before income taxes** | **35648** | **8620** | **11287** | **8943** | **6798** | **21942** | **5669** | **5999** | **5945** | **4329** |
| Current income taxes | (12162) | (4952) | (4065) | (2299) | (846) | (3777) | (1049) | (1204) | (373) | (1151) |
| Deferred income taxes (net) | 2990 | 2609 | 966 | 256 | (841) | (85) | 625 | 48 | (859) | 101 |
| **Income from continuing operations** | **26476** | **6277** | **8188** | **6900** | **5111** | **18080** | **5245** | **4843** | **4713** | **3279** |
| Discontinued operations | 0 | 0 | 0 | 0 | 0 |  | 0 | 0 | 0 | 0 |
| **Consolidated net income** | **26476** | **6277** | **8188** | **6900** | **5111** | **18080** | **5245** | **4843** | **4713** | **3279** |
| **Other comprehensive income** | **(5697)** | **1423** | **(327)** | **(3666)** | **(3127)** |  |  |  |  |  |
| Valuation of financial instruments to collect or sell | (4388) | 1677 | 112 | (3149) | (3028) |  |  |  |  |  |
| Valuation of derivatives financial instruments for cash flow hedges | (813) | 98 | (425) | (401) | (85) |  |  |  |  |  |
| Remeasurement of defined benefit obligation | (496) | (352) | (14) | (116) | (14) |  |  |  |  |  |
| **Participation in ORI of other entities** | **0** | **0** | **0** | **0** | **0** |  |  |  |  |  |
| **INTEGRAL RESULT** | **20779** | **7700** | **7861** | **3234** | **1984** |  |  |  |  |  |
| **Net result attributable to:** | **26476** | **6277** | **8188** | **6900** | **5111** |  |  |  |  |  |
| controlling interest | 26476 | 6277 | 8188 | 6900 | 5111 |  |  |  |  |  |
| Non-controlling interest | 0 | 0 | 0 | 0 | 0 |  |  |  |  |  |
| **Comprehensive income attributable to:** | **20779** | **7700** | **7861** | **3234** | **1984** |  |  |  |  |  |
| controlling interest | 20779 | 7700 | 7861 | 3234 | 1984 |  |  |  |  |  |
| Non-controlling interest | 0 | 0 | 0 | 0 | 0 |  |  |  |  |  |
| **Basic earnings per common share** | **3.90** | **0.92** | **1.21** | **1.02** | **0.75** | **-** | **-** | **-** | **-** | **-** |
| Non-controlling interest |  |  |  |  |  |  |  |  |  |  |
| **Net income** | **-** | **-** | **-** | **-** | **-** | **18080** | **5245** | **4843** | **4713** | **3279** |

---

These consolidated financial statements were approved by the Board of Directors and signed on its behalf by

---

| | | |
|:---|:---|:---|
| **FELIPE GARCIA ASCENSIO** |  | **DIDIER MENA CAMPOS** |
| Chief Executive Officer |  | Vice-president of Administration and Finance |
| **EMILIO DE EUSEBIO SAIZ** | **JUAN CARLOS GARCÍA CONTRERAS** | **PABLO AGOTE ALIQUE** |
| Deputy General Director Financial Accounting and Control | Executive Director of Intervention | Chief Audit Executive |

---

The accompanying notes are part of these consolidated financial statements

**www.santander.com.mx**

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 42 |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Consolidated statements of changes in stockholders' equity** | **Consolidated statements of changes in stockholders' equity** | **Consolidated statements of changes in stockholders' equity** | **Consolidated statements of changes in stockholders' equity** | **Consolidated statements of changes in stockholders' equity** | **Consolidated statements of changes in stockholders' equity** | **Consolidated statements of changes in stockholders' equity** | **Consolidated statements of changes in stockholders' equity** | **Consolidated statements of changes in stockholders' equity** | **Consolidated statements of changes in stockholders' equity** | **Consolidated statements of changes in stockholders' equity** | **Consolidated statements of changes in stockholders' equity** |
| **From January 1<sup>st</sup> to December 31<sup>st</sup>, 2022** | **From January 1<sup>st</sup> to December 31<sup>st</sup>, 2022** |  |  | |  | | |  |  |  |  |
| Million pesos |  |  |  |  |  |  |  |  |  |  |  |
|  | **Paid-in capital** | **Paid-in capital** |  | **Other capital** | **Other capital** | **Other capital** | **Other capital** | **Other capital** | **Other capital** |  |  |
| **CONCEPT** | Capital stock | Additional paid-in capital | Capital reserves | Accumulated results | Valuation of Financial Instruments to collect or sell | Valuation of derivative financial instruments for cash flow hedges | Employee defined benefit measures | Cumulative effect from conversion | Total controlling interest | Non-controlling interest | Total stockholders' equity |
| **BALANCE AS OF DECEMBER 31<sup>st</sup>, 2021** | **29799** | **4903** | **26940** | **107740** | **(2091)** | **399** | **(1854)** | **9** | **165845** | **49** | **165894** |
| Retrospective adjustment for initial adoption due to accounting changes |  |  |  | (2025) | 167 |  |  |  | (1858) |  | (1858) |
| **BALANCES AS OF DECEMBER 31, 2021 ADJUSTED** | **29799** | **4903** | **26940** | **105715** | **(1924)** | **399** | **(1854)** | **9** | **163987** | **49** | **164036** |
| **OWNER MOVEMENTS** |  |  |  |  |  |  |  |  |  |  |  |
| Dividends declared |  |  |  | (17878) |  |  |  |  | (17878) |  | (17878) |
| **TOTAL** | **0** | **0** | **0** | **(17878)** | **0** | **0** | **0** | **0** | **(17878)** | **0** | **(17878)** |
| **RESERVE MOVEMENTS** |  |  |  |  |  |  |  |  |  |  |  |
| Capital reserves |  |  | 1260 | (1260) |  |  |  |  | 0 |  | 0 |
| **TOTAL** | **0** | **0** | **1260** | **(1260)** | **0** | **0** | **0** | **0** | **0** | **0** | **0** |
| **INTEGRAL RESULT** |  |  |  |  |  |  |  |  |  |  |  |
| Net income |  |  |  | 26476 |  |  |  |  | 26476 |  | 26476 |
| Other comprehensive income |  |  |  |  |  |  |  |  |  |  |  |
| Valuation of Financial Instruments to collect or sell |  |  |  |  | (4388) |  |  |  | (4388) |  | (4388) |
| Valuation of derivative financial instruments for cash flow hedges |  |  |  |  |  | (813) |  |  | (813) |  | (813) |
| Interest on Subordinated debentures Perpetual Non-Preferred Contingent Convertible |  |  |  | (644) |  |  |  |  | (644) |  | (644) |
| Employee defined benefit measures |  |  |  |  |  |  | (496) |  | (496) |  | (496) |
| Non-controlling interest |  |  |  |  |  |  |  |  | 0 | 15 | 15 |
| **TOTAL** | **0** | **0** | **0** | **25832** | **(4388)** | **(813)** | **(496)** | **0** | **20135** | **15** | **20150** |
| **BALANCE AS OF DECEMBER 31<sup>ST</sup>, 2022** | **29799** | **4903** | **28200** | **112409** | **(6312)** | **(414)** | **(2350)** | **9** | **166244** | **64** | **166308** |

---

These consolidated financial statements were approved by the Board of Directors and signed on its behalf by

---

| | | |
|:---|:---|:---|
| **FELIPE GARCIA ASCENSIO** |  | **DIDIER MENA CAMPOS** |
| Chief Executive Officer |  | Vice-president of Administration and Finance |
| **EMILIO DE EUSEBIO SAIZ** | **JUAN CARLOS GARCÍA CONTRERAS** | **PABLO AGOTE ALIQUE** |
| Deputy General Director Financial Accounting and Control | Executive Director of Intervention | Chief Audit Executive |

---

The accompanying notes are part of these consolidated financial statements

**www.santander.com.mx**

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 43 |

---

---

| | | |
|:---|:---|:---|
| **Consolidated statement of cash flows** | | |
| **From January 1<sup>st</sup> to December 31<sup>st</sup>, 2022** |  |  |
| Million pesos |  |  |
| **Net Income before Tax** |  | **35648** |
| **Adjustments for items associated with investing activities** |  |  |
| Exchange differences in cash and cash equivalents | 180 |  |
| Participation in the net result of other entities | (182) |  |
| Depreciation of property, furniture and fixtures | 2230 |  |
| Amortizations of intangible assets | 2671 |  |
| Deferred employee profit sharing | (564) |  |
| Provisions | 1825 | 6160 |
| **Adjustments for items associated with financing activities** |  |  |
| Expense interest from | 3364 |  |
| Interest associated with financial instruments that qualify as a liability | 1244 |  |
| Interest associated with financial instruments that qualify as capital | 643 | 5251 |
| **Changes in operating items** |  |  |
| Changes in Bank and other loans | (1328) |  |
| Changes in Margin accounts (financial derivatives instruments) | (269) |  |
| Changes in Investments in financial instruments | 35676 |  |
| Changes in Debtors under sale and repurchase agreements | (53374) |  |
| Changes in Derivatives (asset) | (49092) |  |
| Changes in Loan portfolio (net) | (63394) |  |
| Changes in Other receivables (net) | (2488) |  |
| Changes in Foreclosed assets | (481) |  |
| Changes in Other operating assets (net) | (964) |  |
| Changes in Deposits | 41745 |  |
| Changes in Creditors under sale and repurchase agreements | 15020 |  |
| Changes in Collateral sold or pledged as guarantee | 29580 |  |
| Changes in Derivatives (liability) | 54204 |  |
| Changes in Other operating liabilities | 1221 |  |
| Change in hedging derivative financial instruments (of hedged items related to operating activities) | (4320) |  |
| Changes in Subordinated credit notes | (10254) |  |
| Changes in Employee benefits | 1475 |  |
| Changes in Other payables | 6044 |  |
| Payments of income taxes | (6459) | **(7458)** |
| **Net cash from (used in) operating activities** |  | **39601** |
| **Investing Activities** |  |  |
| Proceeds from disposal of property, furniture and fixtures | 1 |  |
| Payments for acquisition of property, plant and equipment | (3232) |  |
| Payments for acquisition of intangible assets | (3936) |  |
| Cash dividend receipts | 142 |  |
| **Net cash provided by (used in) investing activities** |  | (7025) |
| **Financing Activities:** |  |  |
| Payment of cash dividends | (17878) |  |
| **Net cash used in financing activities** |  | **(17878)** |
| **Net changes in cash and a cash equivalents** |  | **14698** |
| **Exchange differences in cash and cash equivalents** |  | (2180) |
| **Cash and a cash equivalents, beginning of the year** |  | **80835** |
| **Cash and a cash equivalents** |  | **93353** |

---

These consolidated financial statements were approved by the Board of Directors and signed on its behalf by:

---

| | |
|:---|:---|
| **FELIPE GARCIA ASCENCIO** | **DIDIER MENA CAMPOS** |
| Chief Executive Officer | Vice-president of Administration and Finance |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 44 |

---

---

| | | |
|:---|:---|:---|
| **EMILIO DE EUSEBIO SAIZ** | **JUAN CARLOS GARCÍA CONTRERAS** | **PABLO AGOTE ALIQUE** |
| Deputy General Director Financial Accounting and Control | Executive Director of Intervention | Chief Audit Executive |

---

The accompanying notes are part of these consolidated financial statements

**www.santander.com.mx**

**<u>Summary of changes due to the initial recognition of 2022 accounting principles</u>**

In accordance with the General Procedures applicable to Credit Institutions (*Disposiciones de Carácter General Aplicables a las Instituciones de Crédito*) effective as of January 1, 2022, new local accounting standards based on IFRS-9 entered into force, approaching the convergence to IFRS international standards. Therefore, the Bank's financial statements for the first quarter, second quarter, third quarter and fourth quarter of 2022 and their summaries are not comparable with the financial statements for the first quarter, second quarter, third quarter and fourth quarter of

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 45 |

---

2021*,* mainly in the consolidated statement of comprehensive income. The financial statements for those quarters and their summaries are presented jointly, only for illustrative purposes.

Any reference to the "Balance Sheet" or "Income Statement" contained in this document, should be understood as "Statement of Financial Position" and "Statement of Comprehensive Income", respectively.

In addition loan portfolio with credit risk stage 3 should be understood as what was previously understood as "non-performing loan portfolio".

Finally, references to the term "held-to-maturity securities" should be understood as "financial instruments to collect principal and interest (values)". The above is consistent with the "Accounting Criteria applicable to credit institutions".

The following table shows the accounting effects of the initial recognition of IFRS-9 on retained earnings:

---

| | |
|:---|:---|
| **Banco Santander México, S.A.** |  |
| **Summary of changes due to the initial recognition of 2022 accounting principles** |  |
| **Million Pesos** |  |
| Concept | Amount |
| Preventive estimate for credit risks derived from the credit portfolio rating according to stages 1, 2 and 3 | (2256)(a) |
| Impairment estimate of governmental and Corporate financial instruments (b) | (239) |
| Recognition of CVA of financial instruments | (165) |
| Recognition of FVA of financial instruments | (265) |
| Recognition of DVA of financial instruments | 933 |
| Recognition results first day financial instruments | (553) |
| Recognition of right-of-use assets | 5035 |
| Recognition of lease liabilities | (5611) |
| Valuation of Foreclosed Assets, net | 269 |
| Commissions and costs by credit card - since their deferral is not allowed | (44) |
| Commissions and costs to accrue credits in stage 3 | 3 |
| **Total before tax** | **(2893)** |
| Deferred tax | 868 |
| **Net effect on retained earnings** | **(2025)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Include the following impacts that were charged agains capital, Ps.1,742 million
in December 2021 due to the implementation of the CUB requirements related to NIF C-16, Ps.(293) million in September 2022 related to
the implementation of NIF C-16 mortgage model and Ps.807 million in December 2022 related tio the implementation of NIF C-16 corporates
and developers model.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Reclassification of "Valuation of Financial Instruments to collect or sell"
to "Retained earnings" for Ps.239 million, of which Ps.181 million were Brazilian Bonds and Ps.58 million were T-Bills, without
impact in Stockholders' Equity.

**Disclosure notes regarding the adoption of IFRS-9, in accordance to regulatory requirements**

**Credit Risk: Loan Loss Reserves calculation**

&nbsp;&nbsp;&nbsp;&nbsp;**(a)** **Allowance for impairment losses according to the loan portfolio by stages 1, 2 and 3:** 

In March 2020, the National Banking and Securities Commission (CNBV<sup>2</sup>) published in the DOF<sup>3</sup> the 123° Resolution, amending the General Provisions applicable to Credit Institutions (CUB<sup>4</sup>), to align accounting standards, as well as the

<sup>2</sup> CNBV: Comisión Nacional Bancaria y de Valores – Local Regulator

<sup>3</sup> DOF: Diario Oficial de la Federación – Official document where regulations, laws, etc. are published

<sup>4</sup> CUB: Circular Única de Bancos – Local Regulation

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 46 |

---

classification and qualification of the credit portfolio, to IFRS-9<sup>5</sup>, based on the financial reporting criteria issued by the Mexican Council of Financial Reporting Standards, with a mandatory effective date of January 1<sup>st</sup> 2022<sup>6</sup>.

In accordance with the amending resolution to the Provisions published on December 4, 2020, the Bank chose to recognize as of January 31, 2022 the initial accumulated financial effect derived from applying the credit portfolio rating methodology for the first time, increasing the allowance for loan losses with a charge in shareholders' equity in the figure "Accumulated results" in the consolidated statement of financial position. This initial cumulative financial effect amounted to $2,256.

The amounts that would have been recorded and presented both in the consolidated statement of financial position and the consolidated statement of comprehensive income as of December 31, 2022 had the option to recognize the aforementioned initial effect in the results of the year are shown below:

![](image_022.jpg)

The foregoing implied changes in the methodologies for the credit portfolio qualification under the Standardized Models, contained in the CUB, as well as in the internal model approach (IRB<sup>7</sup>), for which the bank calculates it´s credit risk-weighted assets. For the latter, internal models used for provisions' calculation under NIF<sup>7</sup> C-16 (local IFRS-9) must be implemented within a period not exceeding 18 months from January 2022.

In addition, the credit portfolio has to be classified into three categories (stages), based on the performance of their credit risk from the time they were granted. Stages replace the previous performing / non-performing Loan classification. Stages are assigned based on the following criteria:

&nbsp;&nbsp;&nbsp;&nbsp;· **Stage 1:** Includes loans without significant
credit risk increase since origination; loans with days past due<sup>8</sup> less than or equal to 30 days.

The Loan Loss Reserve is calculated considering 12-month expected credit losses.

<sup>1</sup> IFRS 9: International Financial Reporting Standards 9

<sup>5</sup> Originally, the implementation was in January 2021, however, in December 2020, the effective date was postponed to January 2022.

<sup>6</sup> IRB: Internal Rating Based

<sup>7</sup> NIF: Normas de Información Financiera (Financial Reporting Standards)

<sup>8</sup> Days of delay < = 30 for commercial portfolio. For retail portfolio, ACT/ATR applies <=1,:

ATR: Monthly number of unpaid payable bills for non-revolving portfolios and

ACT: Number of consecutive defaults for the revolving portfolio (credit card)

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 47 |

---

&nbsp;&nbsp;&nbsp;&nbsp;· **Stage 2:** Includes loans with significant
increase in credit risk since origination; loans with days past<sup>9</sup> due greater than 30 days and below 90 days, as well as customers
that are classified in this Stage by the Portfolio Manager, using qualitative criteria evaluated in accordance with the Bank's internal
operations classification policies.

The calculated Reserve is based on the remaining life of the credit (lifetime), in addition a discount factor in the calculation of Loan Loss Reserve is considered.

&nbsp;&nbsp;&nbsp;&nbsp;· **Stage 3:** Includes loans in default, with
days past due<sup>10</sup> greater or equal to 90 days, as well as loans transferred to default by the Portfolio Manager, based on the
assessment over quality deterioration, in addition to the Bank's internal operations classification policies guidelines.

The calculated Reserve considers a probability of default equal to 100%.

In Addition to the changes related to IFRS 9, regulations include the following changes in the portfolio classification methodology:

&nbsp;&nbsp;&nbsp;&nbsp;· Change in days considered for the classification
in Stage 3 (formerly Non-performing Loans) of revolving credits (Credit Cards and Ágil), from 60 days (previous criteria) to 90
days;

&nbsp;&nbsp;&nbsp;&nbsp;· The Loan Loss Reserves calculation for the Motorcycles
portfolio must consider the Durable Consumer Goods Portfolio model, previously being calculated with the Car Loans model;

&nbsp;&nbsp;&nbsp;&nbsp;· Change in the Loss Given Default (LGD) for the
commercial portfolio, recognizing an increase in the parameter based on the elapsed time in Stage 3;

&nbsp;&nbsp;&nbsp;&nbsp;· Previously, the accrued interests of customers
classified as Non-performing loans had to be reserved at a 100%, with the new regulations, they must be reserved at the same coverage
level as the rest of the contract.

Finally, Banco Santander has a plan to comply with the CUB requirements regarding the implementation of internal models for provisions under NIF C-16. Until the implementation of these provisions models, the capital requirement calculation for the IRB portfolios have and will use the current parameters of the internal IRB models, considering an escalation factor (multiplicative add-on) for credits classified in Stage 2.

**The impacts in Reserves due to the implementation of the CUB requirements related to<br> IFRS 9 which were charged against capital were as follows:**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **NIF C-16 Implementation** | **NIF C-16 Implementation** | **NIF C-16 Implementation** | **Mortgage NIF C-16** | **NIF C-16 Corporates and Developers Model** | **NIF C-16 Corporates and Developers Model** | **NIF C-16 Corporates and Developers Model** | **NIF C-16 Corporates and Developers Model** |
| **Entity** | **Reserve<br> Dec-21** | **Reserve<br> NIF C-16 Dec-21** | **Variation** | **Variation (Sep 22)** | **Reserve <br> Dec-22** | **Reserve<br> NIF C-16 Dec-22** | **Variation** | **Total<br> Variation** |
| Banco Santander México, S.A. | 15435 | 17012 | 1577 | (293) | 12447 | 13253 | 806 | 2090 |
| Santander Consumo, S.A. | 7973 | 8138 | 165 | 0 | 8919 | 8919 | 0 | 165 |
| Santander Inclusión Financiera | 33 | 33 | (0) | 0 | 48 | 48 | 0 | (0) |
| **Total** | **23441** | **25183** | **1742** | **(293)** | **21414** | **22220** | **806** | **2256** |

---

\*December 22 figures include a capital charge of Ps.810 million on Nov 22 and a release of Ps.(3.5) million on Dec 22.

<sup>9</sup> 30 < Days of delay < 90 for commercial portfolio. For retail portfolio applies 1 < ACT/ATR <=3.

<sup>10</sup> Days of delay >=90 for commercial portfolio. For retail portfolio applies 1 < ACT/ATR > 3.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 48 |

---

**XII.Notes to Consolidated Financial Statements**

▪ Significant
accounting policies

▪ Earnings
per share

▪ Consolidated
statement of financial position by Segments

▪ Consolidated
statements of comprehensive income by Segments

▪ Annex
1. Loan portfolio rating

▪ Annex
2. Financial ratios according to CNBV

▪ Notes
to consolidated financial statements

The information contained in this report and the financial statements of the Bank subsidiaries may be consulted on the Internet website: www.santander.com.mx or through the following direct access:

http://www.santander.com.mx/ir/english/financial/quarterly.html

There is also information on Santander México on the CNBV website: https://www.gob.mx/cnbv

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 49 |

---

**<u>Significant accounting policies</u>**

<u>Changes in Accounting Criteria issued by the CNBV</u>

*Entry into force of the new accounting pronouncements:*

On December 27, 2017, a Resolution was published in the Official Gazette of the Federation (DOF by its Spanish acronym) that modifies to the Accounting Criteria issued by the Commission, in order to incorporate certain Mexican Financial Reporting Standards (MFRS) issued by the Mexican Financial Reporting Standards Board (CINIF by its acronym in Spanish) to the accounting criteria issued by Comision Nacional Bancaria y de Valores. The effective date of this resolution was January 1, 2019.

Subsequently, on November 15, 2018, an amending Resolution was published to the Resolution mentioned in the previous paragraph in order to extend the term of its application to January 1, 2020 so that credit institutions were able to adjust their credit systems accounting information. On November 4, 2019, the Commission announced the decision to extend the entry into force of this Resolution to January 1, 2021.

In the same way, on March 13, 2020, the Commission published a Resolution that modifies the Accounting Criteria applicable to credit institutions, the update was made to be consistent with Mexican Financial Reporting Standards and International Financial Reporting Standards, which will allow institutions having transparent and comparable financial information with other countries. The entry into force of this Resolution was to be on January 1, 2021.

On April 8, 2020, the Commission, through a press release, decided, due to the contingency derived from the COVID-19 pandemic, to defer to January 1, 2022, the entry into force of the Resolution published in the Official Gazette of the Federation on March 13, 2020, which was scheduled for January 1, 2021.

In relation to the participants of the derivative contracts market, an amending Resolution was published on November 9, 2020 in the Official Gazette of the Federation where the term of its application is extended to January 1, 2023 so that the clearinghouses and clearing members are able to adjust their accounting information systems.

On December 4, 2020, as a consequence of the COVID-19 pandemic in which credit institutions reduced their operational capacity and human resources, the Commission decided to issue a Resolution through which it postponed the entry into force as of January 1, 2022 of all the Resolutions to the Accounting Criteria mentioned above.

Finally, on December 30, 2021, the Commission issued a Resolution that modifies the Accounting Criteria A-2 Application of particular standards, A-3 Application of general standards, B-1 Cash and cash equivalents, B-6 Loan Portfolio, B- 7 Foreclosed assets and Series D Criteria related to the basic financial statements. The objective of these modifications issued by the Commission is to make some clarifications in certain Accounting Criteria so that the credit institutions have clarity, security and consistency in the application of said criteria derived from the feedback process and monitoring of the implementation of the modifications. of the Accounting Criteria by credit institutions.

*Mexican Financial Reporting Standards Board issued by the CINIF*

The MFRS that are incorporated into the Accounting Criteria, either by modification or adoption and, which entered into force on January 1, 2022, are the following:

MFRS B-5 *Financial information by segments* 

This MFRS establishes both the criteria to identify the segments subject to reporting of an entity, as well as the standards for disclosure of the financial information of said segments; likewise, it establishes disclosure requirements for certain information of the economic entity as a whole.

The Commission indicates in Accounting Criteria A-2 certain considerations in the application of this MFRS.

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| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 50 |

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MFRS B-11 *Disposal of long-lived assets and discontinued operations* 

This MFRS establishes the standards for valuation, presentation and disclosure in the disposal of long-lived assets and discontinued operations.

The Commission indicates in Accounting Criteria A-2 certain considerations in the application of this MFRS.

MFRS B-12 *Compensation of financial assets and financial liabilities* 

This MFRS establishes the rules related to the compensation rights that must be considered to present a financial asset and a financial liability for their compensated amount in the statement of financial position, as well as what are the characteristics that the intention to carry out the compensation must meet, based on the principle that a financial asset and a financial liability must be presented at their offset amount as long as the future cash flow of their collection or settlement is net.

MFRS B-17 *Fair value determination* 

This MFRS establishes the standards for the determination of the fair value and its disclosure. It also indicates that fair value must use assumptions that market participants would use when setting the price of an asset or liability under current market conditions at a given date, including assumptions about risk. In this sense, it clarifies what the particular asset or liability that is being valued should consider, if it is monetary and if it is used in combination with other assets or on an independent basis, the market in which it would take place for the asset or liability. and the appropriate valuation technique(s) for determining fair value, as well as maximizing the use of relevant observable inputs and minimizing unobservable inputs.

The Commission indicates in Accounting Criteria A-2 certain considerations in the application of this MFRS.

MFRS C-2 *Investment in financial instruments*

This MFRS establishes the valuation, presentation and disclosure standards for the initial and subsequent recognition of the investment in financial instruments in the financial statements of an economic entity. Additionally, it indicates the classification of the financial instruments in which it is invested, ruling out the concept of intention to acquire and the use of an investment in a debt or capital financial instrument to determine its classification.

The business model concept of managing investments in financial instruments is adopted to obtain cash flows, which may be obtaining a contractual return on a financial instrument, by collecting contractual returns and/or selling or obtaining profits for their purchase and sale, in order to classify the various financial instruments. This allows aligning the valuation of investments in financial instruments with the real strategic management of the business and not with an intention that may not be valid later.

The Commission indicates in Accounting Criteria A-2 certain considerations in the application of this MFRS.

MFRS C-3 *Accounts receivable* 

This MFRS establishes the valuation, presentation and disclosure standards for the initial and subsequent recognition of trade accounts receivable and other accounts receivable in the financial statements of an economic entity. Specifies that accounts receivable that are based on a contract represent a financial instrument.

The Commission indicates in Accounting Criteria A-2 certain considerations in the application of this MFRS

MFRS C-9 *Provisions, contingencies and commitments* 

This MFRS establishes the standards for the accounting recognition of provisions in the financial statements of entities, as well as the standards for disclosing contingent assets, contingent liabilities and commitments.

The Commission indicates in Accounting Criteria A-2 certain considerations in the application of this MFRS.

MFRS C-10 *Derivative financial instruments and hedging relationships* 

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| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 51 |

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This MFRS establishes the valuation, presentation and disclosure standards for the initial and subsequent recognition of derivative financial instruments and hedging relationships in the financial statements of an economic entity. It focuses mainly on establishing that the hedging relationships must be aligned with the entity's risk management strategy and the fulfillment of the objectives of said strategy.

Some aspects of the abrogated Accounting Criteria B-5 Derivatives and hedging operations remain in this MFRS.

The Commission indicates in Accounting Criteria A-2 certain considerations in the application of this FRS.

MFRS C-13 *Related parties* 

The purpose of this MFRS is to establish the particular disclosure standards applicable to operations with related parties. The foregoing to highlight the possibility that the financial statements could be affected or be affected in the future by the existence of related parties, as well as by the operations carried out and the outstanding balances with them.

The Commission indicates in Accounting Criteria A-2 certain considerations in the application of this MFRS.

MFRS C-14 *Transfer and derecognition of financial assets* 

This MFRS establishes the standards related to the accounting recognition of transfers and derecognition of financial assets other than cash, such as financial instruments receivable and negotiable financial instruments, as well as the presentation in the financial statements of said transfers and the related disclosures.

The Commission indicates in Accounting Criteria A-2 certain considerations in the application of this MFRS.

MFRS C-16 *Impairment of financial instruments receivable*

This NIF establishes the standards for valuation, accounting recognition, presentation and disclosure of impairment losses on financial instruments receivable. The purpose of this standard is to properly indicate when and how an expected impairment loss should be recognized, instead of indicating only that different quantifiable future events should be foreseen; therefore, it establishes methodologies to improve financial information and the comparability of the recognition of expected losses.

The Commission indicates in Accounting Criteria A-2 certain considerations in the application of this MFRS.

MFRS C-19 *Financial instruments payable*

This MFRS establishes the valuation, presentation and disclosure standards for the initial and subsequent recognition of financial instruments payable in the financial statements of an economic entity.

The Commission indicates in Accounting Criteria A-2 considerations in the application of this MFRS.

MFRS C-20 *Financial instruments to collect principal and interest*

This MFRS establishes the valuation, presentation and disclosure standards for the initial and subsequent recognition of financial instruments to collect principal and interest in the financial statements of an economic entity that performs financing activities.

The Commission indicates in Accounting Criteria A-2 certain considerations in the application of this MFRS.

MFRS C-22 *Cryptocurrencies*

This MFRS establishes the valuation, presentation and disclosure standards for the recognition in the financial statements of an entity:

&nbsp;&nbsp;&nbsp;&nbsp;a. cryptocurrencies;

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| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 52 |

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&nbsp;&nbsp;&nbsp;&nbsp;b. cryptocurrency mining fees; and

&nbsp;&nbsp;&nbsp;&nbsp;c. cryptocurrencies that you do not own, but that you hold in
your custody.

Likewise, it aims to establish the rules for determining the fair value of the cryptocurrencies in which the financial instruments receivable or payable recognized based on MFRS C-3, MFRS C-20 or MFRS C-19 are denominated, as appropriate.

The Commission indicates in Accounting Criterion A-2 certain considerations in the application of this MFRS

MFRS D-1 *Income from contracts with customers*

This MFRS establishes the standards for the valuation, presentation and disclosure of income incurred to obtain or fulfill contracts with customers. The basic principle of this NIF is that an entity must recognize income when it transfers control over the agreed goods or services to customers, in exchange for the amount that reflects the consideration to which an entity considers it is entitled in exchange for goods or services.

MFRS D-2 *Costs for contracts with customers*

This MFRS establishes the standards for the valuation, presentation and disclosure of costs arising from contracts with customers. In particular, it establishes the rules for recognizing the costs to obtain a contract with a client and the costs to fulfill a contract with a client, if said costs are not within the scope of another MFRS.

MFRS D-5, *Leases*

This MFRS establishes the standards for the valuation, presentation and disclosure of leases in the financial statements of an economic entity, either as a lessee or as a lessor. In this sense, it introduces a single model for recognition of leases by the lessee and requires the latter to recognize the assets and liabilities of all leases with a duration of more than 12 months, unless the underlying asset is of low value. It is required to recognize a right-of-use asset that represents its right to use the underlying leased asset and a lease liability that represents its obligation to make lease payments.

The Commission indicates in Accounting Criterion A-2 certain considerations in the application of this MFRS.

*Accounting Criteria issued by the Commission* 

The main changes in the Accounting Criteria issued by the Commission that entered into force on January 1, 2022 were the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Accounting Criteria B-2 *Investments in securities*,
B-5 *Derivatives and hedging operations*, B-11 *Collection rights*, C-1 *Recognition and derecognition of financial assets*,
C-3 Related parties and C-4 *Information by segments* were repealed, and then the corresponding MFRS came into force, the same as
described above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The names were changed and the Accounting Criteria
D-1 *Statement of financial position* (previously "Balance Sheet"), D-2 *Statement of comprehensive income* (previously
"Income Statement"), D-3 *Statement of changes in the stockholders' equity* (previously "Statement of changes in stockholders'
equity") and D-4 *Statement of cash flows* were adapted.

In particular, the following Accounting Criteria were modified:

Accounting Criteria A-2 *Application of particular standards*

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| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 53 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· In relation to the requirements for consolidation
of financial statements referred to in MFRS B-8 *Consolidated or Combined Financial Statements*, the exemption for investment funds
regarding the uniform recognition of accounting criteria for credit institutions is eliminated in relation to the restatement of financial
statements, in accordance with the provisions of MFRS B-10 *Effects of Inflation*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· It is indicated that in the application of MFRS
B-15, the exchange rate to be used to establish the equivalence of the national currency with the US dollar, will be the exchange rate
at the closing of the day on the date of transaction or preparation of the financial statements, as appropriate, published by the Bank
of Mexico instead of the FIX exchange rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The obligation to disclose the historical amount
of capital stock at the bottom of the statement of financial position is eliminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· In relation to the requirements for the application
of the equity method referred to in MFRS C-7, the exemption for investment funds regarding the uniform recognition of accounting criteria
for credit institutions is eliminated in relation to the restatement of financial statements, in accordance with the provisions of MFRS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The requirement to present the liability generated
by employee benefits within the caption "Other accounts payable" is eliminated. It will now be presented in a separate line
item in the statement of financial position.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The requirement to disclose the form or the calculation
bases used to calculate the income taxes caused and determine the PTU is eliminated.

Accounting Criteria A-3 *Application of general standards*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The obligation to reclassify as overdue debt and
the simultaneous constitution of an estimate for irrecoverability or difficult collection for its total amount is eliminated for those
settlement accounts in which the amount receivable is not realized within 90 calendar days after the date they were registered.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The estimate of expected credit losses corresponding
to the amounts receivable in clearing accounts must be determined in accordance with the provisions of MFRS C-16.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The balance of the debit and credit settlement
accounts may be offset in terms of the provisions of the offset rules provided for in MFRS B-12.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Additional disclosures are required regarding
the Updated Price for Valuation that is provided by the price supplier in determining the fair value, in addition to what is indicated
in the Accounting Criteria or the corresponding MFRS.

Accounting Criteria B-1 *Cash and Cash Equivalents*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The name of the Accounting Criteria is modified.
It was called "Availabilities".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The definitions of: Cash, Cash Equivalents and
Highly Liquid Financial Instruments are incorporated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Deposits in financial entities represented or
invested in securities that do not meet the assumptions set forth in this Accounting Criteria will be subject to MFRS C-2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Cash should be initially recognized at its nominal
value, while all cash equivalents, on initial recognition, should be valued at fair value. The returns generated by cash and cash equivalents
will be recognized in the results of the year as they accrue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Cash must be kept valued at its nominal value,
while cash equivalents must be valued at their fair value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Highly liquid financial instruments must be valued
based on the provisions of the regulations on financial instruments, in accordance with the business model that corresponds to each type
of instrument.

Accounting Criteria B-3 *Repos*

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| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 54 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The definition of: Financial asset, Amortized
cost, Effective interest method, Effective interest rate and Fair value is modified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The definition of Equity Instruments is eliminated,
incorporating the definition of Capital Financial Instruments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· For purposes of compensation between financial
assets and liabilities, acting as the entity as reporting entity, the provisions of MFRS B-12 must be observed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The requirement to disclose the agreed rate in
the relevant operations is incorporated.

Accounting Criteria B-4 *Securities Lending*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The definition of: Financial asset, Amortized
cost, Effective interest method, Effective interest rate and Fair value is modified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The definition of Equity Instruments is eliminated,
incorporating the definition of Capital Financial Instruments.

Accounting Criteria B-6 *Loan Portfolio*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The collection rights acquired by the entity that
are in the cases provided for in this criterion are subject to MFRS C-20.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The definition of: Write-off, Amortized cost,
Credit, Commercial credits, Line of credit and unpaid balance is modified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The definitions of: Portfolio with credit risk
stage 1, stage 2 and stage 3, Transaction costs, Collection rights, Effective interest method, Common risk, Effective interest rate and
unguaranteed residual value are added.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The definitions of: Troubled Portfolio, Current
Portfolio, Overdue Portfolio, Commission for granting credit and Purchase option at a reduced price are eliminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· A section related to the business model similar
to that contained in IFRS 9 is incorporated. The business model refers to how the entity administers or manages the credit portfolio to
generate cash flows. That is, the entity's business model determines whether the cash flows will come from obtaining contractual cash
flows, from the sale of the loan portfolio, or from both.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The loan portfolio must be recognized in terms
of this criterion, if the objective of the business model is to preserve the loan portfolio to collect the contractual cash flows and
the terms of the contract foresee cash flows on pre-established dates, which correspond only to principal and interest payments on the
principal amount outstanding. If the foregoing is not met, it must be treated in accordance with the provisions of MFRS C-2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The entity must document the tests it performs
to determine that a loan or portfolio of loans complies with the assumption that the cash flows of the contract correspond only to payments
of principal and interest, or that, due to its characteristics, it should be valued at fair value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The entity must periodically evaluate, in accordance
with its policies established for such purposes, the characteristics of its business model to classify the loan portfolio based on its
objective. The aforementioned policies must be duly documented.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· In the initial recognition, the price of the transaction
must be quantified, which corresponds to the net amount financed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The net amount financed is that which results
from adding or subtracting from the original amount of the credit, the insurance that would have been financed, the transaction costs,
commissions, interest and other items collected in advance.

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| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 55 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The transaction price corresponds to the fair
value of the loan portfolio at initial recognition and will be the basis for applying the effective interest method with the effective
interest rate, that is, it is the basis for calculating the amortized cost of the portfolio for later recognition.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The balance in the credit portfolio will be the
amount effectively granted to the borrower, which will be recorded independently of the transaction costs and the items collected in advance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Transaction costs and items collected in advance
will be recognized as a deferred charge or credit, as appropriate, which will be amortized against results during the life of the credit
according to the effective interest rate. Previously, they were recorded as a deferred loan, which was amortized against results under
the straight-line method over the life of the loan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The commissions charged and transaction costs
related to the granting of credit cards must be recognized directly in results at the time the credit is granted, instead of being amortized
in results over a period of 12 months.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Commissions collected and transaction costs originating
from a line of credit, will be recognized as a credit or a deferred charge, as appropriate, which will be amortized against the results
for the period corresponding to the term granted in the line of credit. Previously, they were amortized against the results of the year
under the straight-line method over a period of 12 months.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· A section is included in which the steps to follow
to determine the effective interest rate are explained.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Loan portfolio acquisitions should be recognized
at fair value (transaction price) plus transaction costs on the date of agreement. Previously, they were recognized on the acquisition
date at their contractual value, adjusting the difference with respect to the acquisition price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The balance of the acquired portfolio is recorded
separately from the transaction costs, which are recognized as a charge or deferred credit, as appropriate, which are amortized against
the results of the year during the life of the loan, in accordance with the effective interest rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The methodology for accounting recognition in
financial leasing operations is modified when the entity acts as lessor in which it will recognize at the beginning of the contract within
the loan portfolio, the contractual value of the leasing operation plus the non-guaranteed residual value that is accumulated for the
benefit of the lessor, against the cash outflow, and the financial income to be accrued will be recognized based on the unpaid balance
of the credit against the results of the year, under the heading of "Interest income" in accordance with NIF D -5.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· In financial factoring, discount and assignment
of credit rights operations, the financial income to be accrued will be recognized in the statement of comprehensive income according
to the effective interest rate, instead of under the straight-line method during the life of the credit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· In its subsequent recognition, the loan portfolio
must be valued at its amortized cost, which must include the increases due to the effective interest accrued, the decreases due to the
amortization of transaction costs and items collected in advance, as well as the decreases for the collection of principal and interest
and for the preventive estimate for credit risks.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The increase due to the adjustment in the revaluation
of the unpaid balance of loans denominated in Minimum Wage Times (VSM) or in the Unit of Measurement and Updating (UMA) is recognized
as part of the amortized cost as interest income against results. Previously, the adjustment was recognized as a deferred credit that
was amortized in income as interest income over a 12-month period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The concept of current portfolio and overdue portfolio
is modified in order to have a methodology to rate the credit portfolio of credit institutions that incorporates the best international
practices.

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| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 56 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The classification of the credit portfolio by
portfolio in stages 1, 2 or 3 is specified, including its transfer between these different stages, which allows better control of the
credit risk to which credit institutions are subject and establishes consistent with those risks, preventive estimates for credit risks.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· If the entity restructures a loan with stage 1
and 2 credit risk, or partially settles it through a renewal, it calculates the profit or loss on the renegotiation as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) determines the book value of the credit without considering the preventive estimate for credit risks;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) determines the new future cash flows on the restructured or partially renewed amount, discounted at the
original effective interest rate, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) recognizes the difference between the book value and the cash flows determined in subparagraph b above
as a charge or deferred credit against the profit or loss for renegotiation of the loan portfolio in the statement of comprehensive income.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The amount of the partially restructured or renewed
loan will serve as the basis for applying the original effective interest rate, which should only be adjusted, where appropriate, to include
transaction costs, commissions and other items collected in advance generated in the renegotiation

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Deferred items pending amortization (transaction
costs and items collected in advance), as well as those originating from the renegotiation, will be amortized during the new loan term
based on the effective interest rate. Previously, the commissions charged for loan restructuring or renewal were added to the commissions
charged for the granting as a deferred loan, which was amortized against the results of the year under the straight-line method during
the new term of the loan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The determination of profit or loss due to renegotiation
is not applicable to credit cards, lines of credit, or loans with stage 3 credit risk.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· If the entity renews a credit, it will be considered
that there is a new credit, so the previous credit must be canceled in the case of a total renewal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Indicates the classification and transfers of
the renegotiated loan portfolio according to its categorization by level of credit risk.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Incorporates certain clarifications in relation
to the subject of sustained payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Clarifies that the accumulation of interest accrued
at the time the unpaid balance of the loan is considered as having stage 3 credit risk. Likewise, the balance pending amortization of
transaction costs, as well as items collected in advance and if any, the effect of profit or loss in renegotiation pending amortization,
are recognized against the results of the year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The obligation to create an estimate for an amount
equivalent to the total accrued interest or financial income not collected at the time of transfer of the credit as past-due portfolio
is eliminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· As long as the credit remains in the portfolio
with stage 3 credit risk, interest control will be carried out in memorandum accounts. In the event that the interests recorded in memorandum
accounts are forgiven or written off, they must be canceled from memorandum accounts without affecting the item of the preventive estimate
for credit risks.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The estimate of expected credit losses corresponding
to items directly related to the credit portfolio, such as court costs, as well as the undrawn balance of lines of credit, must be constituted
in accordance with the provisions of the Provisions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· It must be evaluated periodically if a loan with
stage 3 credit risk should remain in the statement of financial position, or be written off. In any case, there must be evidence of the
formal collection procedures that have been carried out, as well as the elements that prove the practical impossibility of recovering
the credit in accordance with the internal policies of the entity established in its credit manual.

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| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 57 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The costs and expenses incurred for the recovery
of the credit portfolio must be recognized as an expense within the caption "Other income (expenses) of the operation" of the
income statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Loan portfolio sales will comply with the provisions
of MFRS C-14.

Accounting Criteria B-7 *Foreclosed assets*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The definition of Foreclosed Assets is modified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The definitions of: Disposal cost and Net realizable
value are added.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· What should be considered as the recognition value
of the foreclosed assets is modified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· It is specified that the difference between the
value of the asset that gave rise to the award, net of estimates, and the recognition value of the determined foreclosed asset, will be
recognized in the results of the year as "Other income (expenses) of the operation".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Maintains the rules related to the amount of the
estimate that recognizes signs of impairment due to potential losses in value due to the passage of time of the foreclosed assets.

Accounting Criteria B-8 *Guarantees*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The definitions of: Guarantee,
Commitment and Onerous Contract are added.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Income from commissions
from the granting of guarantees will be recognized in the results of the year in accordance with the provisions of MFRS D-1, instead of
when they accrue.

Accounting Criteria B-9 *Custody and administration of assets*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Virtual assets are included
within the definition of Goods subject to custody or administration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The definitions of: Acquisition
cost and Fair value are modified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Income from custody or
administration services will be recognized in the results of the year in accordance with the provisions of MFRS D-1, instead of when they
accrue.

Accounting Criteria B-10 *Trusts*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Income from trust management
will be recognized based on the provisions of MFRS D-1.

Accounting Criteria C-2 *Securitization operations*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The definitions of: Financial
asset, Assignor (Transfer), Assignee (Receiver), Financial liability and Fair value are modified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The definition of Equity
Instruments is eliminated, incorporating the definition of Capital Financial Instruments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The definition of Continuous
Involvement is incorporated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· References to MFRS C-14
are included, which must be considered for derecognition and transfer of financial instruments.

Changes in the Mexican Financial Reporting Standards applicable in 2023

Starting January 1, 2023, the Bank prospectively adopted the following Improvements to the MFRS, which were issued by the CINIF. These Improvements to the MFRS did not have a significant impact on the financial information presented by the Bank.

MFRS B-11, *Disposal of long-lived assets and discontinued operations* and MFRS C-11, *Shareholders' equity*

Long-lived assets held for distribution to owners, that is, that will be used to pay dividends or repayments of capital, are valued at the lower of their net book value and their fair value less disposal costs.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 58 |

---

In the case of refunds and dividends, MFRS C-11 establishes the bases for recognition of a liability at the time they are declared, affecting retained earnings, adding a precision for accounting recognition in case there is a difference between the liabilities and the value of such long-lived assets.

The previous recognition does not converge with the provisions of IFRS, therefore, a paragraph is included describing the difference.

MFRS B-15, *Foreign Currency Conversion*

Includes a practical solution in the form of an exception whereby financial statements can be issued in a reporting currency that is the same as the recording currency, even when both are different from the functional currency without carrying out the translation to the functional currency. Some precisions are made to ensure a clear understanding and application of the practical solution.

MFRS B-10, *Effects of inflation*

The reference to use the annual inflation average of 8% to consider that the economic environment is inflationary was eliminated, to only take into account the accumulated inflation of the three previous annual years equal to or greater than 26%.

MFRS C-2, *Investment in financial instruments*

An introductory paragraph is added in order to point out the difference that exists between MFRS C-2 and IFRS 9.

MFRS C-3, *Accounts Receivable*

It is specified in the scope of the standard that it is also applicable to other accounts receivable and the concept of commercial accounts receivable is eliminated.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 59 |

---

**<u>Earnings per share</u>**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Earnings per ordinary share and earnings per diluted share** | **Earnings per ordinary share and earnings per diluted share** | **Earnings per ordinary share and earnings per diluted share** | **Earnings per ordinary share and earnings per diluted share** | **Earnings per ordinary share and earnings per diluted share** | **Earnings per ordinary share and earnings per diluted share** | **Earnings per ordinary share and earnings per diluted share** | **Earnings per ordinary share and earnings per diluted share** | **Earnings per ordinary share and earnings per diluted share** | **Earnings per ordinary share and earnings per diluted share** |
| (Millions of pesos, except shares and earnings per share) | (Millions of pesos, except shares and earnings per share) | (Millions of pesos, except shares and earnings per share) | (Millions of pesos, except shares and earnings per share) |  |  |  |  |  |  |
|  | **December 2022** | **December 2022** | **December 2022** | **December 2021** | **December 2021** | **December 2021** | **December 2020** | **December 2020** | **December 2020** |
|  |  | **shares** | **Earnings** |  | **shares** | **Earnings** |  | **shares** | **Earnings** |
|  | **Earnings** | **- weighted-** | **per share** | **Earnings** | **- weighted-** | **per share** | **Earnings** | **- weighted-** | **per share** |
| Earnings per share | 26476 | 6781322904 | **3.90** | 18080 | 6775682106 | **2.67** | 20154 | 6776640349 | **2.97** |
| Treasury stock |  | 5671453 |  |  | 11312251 |  |  | 10354008 |  |
| Diluted earnings per share | 26476 | 6786994357 | **3.90** | 18080 | 6786994357 | **2.66** | 20154 | 6786994357 | **2.97** |
| Plus loss / less (profit): |  |  |  |  |  |  |  |  |  |
| Discontinued operations |  |  |  |  |  |  |  |  |  |
| **Continued fully diluted earnings per share** | 26476 | 6786994357 | **3.90** | 18080 | 6786994357 | **2.66** | 20154 | 6786994357 | **2.97** |
| **Balance outstanding shares as of December 31<sup>st</sup>, 2022** | **6781322904** |  |  |  |  |  |  |  |  |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 60 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Consolidated statement of financial position by Segments** | **Consolidated statement of financial position by Segments** | **Consolidated statement of financial position by Segments** | **Consolidated statement of financial position by Segments** |
| Million pesos |  |  |  |
|  | **As of December 31, 2022** | **As of December 31, 2022** | **As of December 31, 2022** |
|  | **Retail Banking** | **Corporate & Investment Banking** | **Corporate Activities** |
| **Assets** |  |  |  |
| Cash and cash equivalents | 55512 | 25155 | 12686 |
| Margin accounts (derivatives financial instruments) | 0 | 6530 | 0 |
| Investments in financial instruments | 0 | 130582 | 340332 |
| Debtors under sale and repurchase agreements | 0 | 121859 | 0 |
| Derivatives financial instruments | 0 | 228516 | 10128 |
| Valuation adjustment for hedged financial assets | 0 | 0 | (27) |
| Total loan portfolio | 690372 | 119709 | 0 |
| (+/-) Deferred items | 2473 | 59 | 0 |
| Allowance for loan losses | (21554) | (666) | 0 |
| Loan portfolio (net) | 671291 | 119102 | 0 |
| Other receivables (net) | 0 | 47777 | 15063 |
| Foreclosed assets (net) | 962 | 0 | 0 |
| Long-life assets held for sale or for distribution to owners | 0 | 0 | 1586 |
| Advance payments and other assets (net) | 625 | 482 | 2092 |
| Property, furniture and fixtures (net) | 12021 | 1280 | 321 |
| Rights of use assets for property, furniture and equipment (net) | 5542 | 577 | 145 |
| Long-term investment in shares | 0 | 0 | 90 |
| Deferred income tax assets (net) | 0 | 0 | 23258 |
| Intangible assets (net) | 1748 | 1348 | 5851 |
| Goodwill | 1735 | 0 | 0 |
| **Total assets** | **749436** | **683208** | **411525** |
| **Liabilities** |  |  |  |
| Deposits | 686021 | 104670 | 46698 |
| Credit instruments issued | 0 | 2809 | 69692 |
| Interbank loans and other organizations | 16629 | 907 | 13270 |
| Creditors under sale and repurchase agreements | 9581 | 202297 | 0 |
| Securities lending | 0 | 1 | 0 |
| Collateral sold or pledged as guarantee | 0 | 116104 | 0 |
| Derivatives financial instruments | 0 | 230995 | 4461 |
| Valuation adjustment of financial liabilities hedging | 0 | 0 | (14) |
| Lease liabilities | 6161 | 643 | 161 |
| Other payables | 30349 | 83582 | 1982 |
| Financial instruments that qualify as liabilities | 0 | 0 | 39384 |
| Employee benefits | 11195 | 0 | 129 |
| Deferred revenues and other advances | 154 | 0 | 0 |
| **Total liabilities** | **760090** | **742008** | **175763** |
| **Total stockholders' equity** | **77699** | **25231** | **63378** |
| **Total liabilities and stockholders' equity** | **837789** | **767239** | **239141** |

---

**<u>Consolidated balance sheet and consolidated income statement by segment</u>**

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 61 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Consolidated statement of financial position by Segments** | **Consolidated statement of financial position by Segments** | **Consolidated statement of financial position by Segments** | **Consolidated statement of financial position by Segments** |
| Million pesos | | | |
|  | **As of December 31, 2021** | **As of December 31, 2021** | **As of December 31, 2021** |
|  | **Retail Banking** | **Corporate & Investment Banking** | **Corporate Activities** |

---

---

| | | | |
|:---|:---|:---|:---|
| Funds available | 46933 | 20949 | 12953 |
| Margin accounts (derivatives financial instruments) | 0 | 6261 | 0 |
| Investment in securities | 0 | 110694 | 405868 |
| Debtors under sale and repurchase agreements | 0 | 2043 | 0 |
| Derivatives financial instruments | 0 | 179474 | 11248 |
| Valuation adjustment for hedged financial assets | 0 | 0 | 63 |
| Total loan portfolio | 638945 | 112021 | 0 |
| Allowance for loan losses | (20758) | (2416) | 0 |
| Loan portfolio (net) | 618187 | 109605 | 0 |
| Other receivables (net) | 818 | 50230 | 18283 |
| Foreclosed assets (net) | 212 | 0 | 0 |
| Property, furniture and fixtures (net) | 11188 | 1275 | 297 |
| Long-term investment in shares | 0 | 0 | 1470 |
| Deferred taxes and deferred profit sharing (net) | 0 | 0 | 19351 |
| Other assets | 2394 | 1845 | 8011 |
| **Total assets** | **679732** | **482376** | **477544** |
| **Liabilities** |  |  |  |
| Deposits | 667456 | 109112 | 6550 |
| Credit instruments issued | 0 | 882 | 84635 |
| Interbank loans and other organizations | 17371 | 82 | 11317 |
| Creditors under sale and repurchase agreements | 8206 | 188652 | 0 |
| Collateral sold or pledged as guarantee | 0 | 20082 | 0 |
| Derivatives financial instruments | 0 | 176792 | 8080 |
| Other payables | 35655 | 84603 | 1921 |
| Subordinated credit notes | 0 | 0 | 51643 |
| Deferred revenues and other advances | 719 | 0 | 0 |
| **Total liabilities** | **729407** | **580205** | **164146** |
| **Total stockholders' equity** | **68413** | **24986** | **72495** |
| **Total liabilities and stockholders' equity** | **797820** | **605191** | **236641** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Consolidated statements of comprehensive income by Segments** | **Consolidated statements of comprehensive income by Segments** | **Consolidated statements of comprehensive income by Segments** | **Consolidated statements of comprehensive income by Segments** | **Consolidated statements of comprehensive income by Segments** | **Consolidated statements of comprehensive income by Segments** | **Consolidated statements of comprehensive income by Segments** |
| Million pesos |  |  |  |  |  |  |
|  | **12M22** | **12M22** | **12M22** | **12M21** | **12M21** | **12M21** |
|  | **Retail Banking** | **Corporate & Investment Banking** | **Corporate Activities** | **Retail Banking** | **Corporate & Investment Banking** | **Corporate Activities** |
| **Net interest income** | **65738** | **6127** | **143** | **57856** | **4309** | **920** |
| Provisions for loan losses | (15137) | 2910 | 0 | (18908) | (1909) | 0 |
| **Net interest income after provisions for loan losses** | **50601** | **9037** | **143** | **38948** | **2400** | **920** |
| Commission and fee income (net) | 18757 | 1808 | (21) | 16878 | 2121 | (17) |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 62 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Net gain (loss) on financial assets and liabilities | 1254 | 2970 | (38) | 1377 | 3305 | 349 |
| Other operating income | (3950) | (557) | (2367) | (2480) | 12 | 1164 |
| Administrative and promotional expenses | (36757) | (4207) | (1349) | (36056) | (4698) | (2481) |
| **Operating income** | **29905** | **9051** | **(3632)** | **18667** | **3140** | **(65)** |

---

Segment information has been prepared according to the classifications used in Santander México at secondary level, based in the type of developed business:

**Retail banking**

The Retail Banking segment encompasses the entire commercial banking and asset management business. Our Retail Banking segment's activities include products and services for individuals, private banking clients, SMEs, middle-market corporations and government institutions.

**Corporate & Investment Banking** 

The Corporate & Investment Banking segment reflects the returns on the corporate banking business, including managed treasury departments and the equities business. Our Corporate & Investment Banking segment provides comprehensive products and services relating to finance, guarantees, mergers and acquisitions, equity and fixed income, structured finance, international trade finance, cash management services, collection services and e-banking, including structured loans, syndicated loans, acquisition financing and financing of investment plans, among others.

**Corporate activities**

The Corporate Activities segment is comprised of all operational and administrative activities that are not assigned to a specific segment or product mentioned above. The Corporate Activities segment includes the financial management division, which manages structural financial risks arising from our commercial activities, mainly liquidity risk and interest rate risk, provides short- and long-term funding for our lending activities and calculates and controls transfer prices for loans and deposits in local and foreign currencies. The financial management division also oversees the use of our resources in compliance with internal and regulatory limits regarding liquidity and regulatory capital requirements.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 63 |

---

**<u> </u>**

---

| |
|:---|
| **Annex 1. Loan portfolio rating** |
| **As of December 31<sup>st</sup>, 2022** |
| Million pesos |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Allowance for loan losses** | **Allowance for loan losses** | **Allowance for loan losses** | **Allowance for loan losses** | **Allowance for loan losses** | **Allowance for loan losses** |
| **Category** | **Loan Portfolio** | **Commercial** | **Non-revolving consumer loans** | **Credit card and other revolving loans** | **Mortgages** | **Total** |
| Risk "A" | **815534** | **1525** | **449** | **2731** | **489** | **5194** |
| Risk "A-1" | 746827 | 1212 | 309 | 1438 | 391 | 3350 |
| Risk "A-2" | 68707 | 313 | 140 | 1293 | 98 | 1844 |
| Risk "B" | **81053** | **576** | **1424** | **907** | **179** | **3086** |
| Risk "B-1" | 45771 | 127 | 801 | 520 | 70 | 1518 |
| Risk "B-2" | 18416 | 72 | 416 | 201 | 74 | 763 |
| Risk "B-3" | 16866 | 377 | 207 | 186 | 35 | 805 |
| Risk "C" | **29834** | **550** | **431** | **1072** | **1040** | **3093** |
| Risk "C-1" | 17439 | 402 | 177 | 407 | 214 | 1200 |
| Risk "C-2" | 12395 | 148 | 254 | 665 | 826 | 1893 |
| Risk "D" | **12908** | **1031** | **285** | **1728** | **1380** | **4424** |
| Risk "E" | **9219** | **2550** | **1947** | **803** | **707** | **6007** |
| **Total rated portfolio** | **948548** | **6232** | **4536** | **7241** | **3795** | **21804** |
| **Provisions created** |  |  |  |  |  | **21804** |
| **Complementary provisions** |  |  |  |  |  | **416** |
| **Total** |  |  |  |  |  | **22220** |

---

---

| | |
|:---|:---|
| **Notes:** | **Notes:** |
| **1.** | The figures used for rating and creation of allowance for loan losses, correspond to the ones as of the last day of the month of the balance sheet as of December 31<sup>st</sup>, 2022. |
| **2.** | Loan portfolio is rated according to the methodology issued by the CNBV in chapter V of Title II of the General Rules Applicable to Credit Institutions, can be rated by internal methodology approved by the CNBV.<br>We use the methodology established by the CNBV, which have been incorporated or modified according to the following schedule:<br>As of September 2011, the Bank apply the rules for rating the states and municipalities loan portfolio.<br>As of June 2013, the Bank apply the new rules for rating the commercial loan portfolio.<br>As of October 2016, the Bank updated the rules for rating the revolving consumer loan portfolio.<br>As of September 2017, the Bank updated the rules for rating the non-revolving consumer and mortgage loan portfolios.<br>As of November 2018, the Bank began to report the allowance for loans losses with their IRB methodology for middle-market and mortgages broker's loans.<br>As of February 2020, the Bank concluded the parallel exercise and began to report the allowance for loan losses with their internal ratings based (IRB) model for Corporate and Investment Banking and Financial Institutions segments.<br>As of February 2020, the Bank informs to the CNBV, the constitution of Ps.900 million additional provisions for the organic mortgage portfolio due to the coming-up implementation of their internal rating base (IRB) model for that portfolio.<br>CNBV was informed about additional provisions given the environment generated by COVID-19.<br>Credit Institutions use risk ratings: A-1; A-2; B-1; B-2; B-3; C-1; C-2; D and E, to classify allowance for impairment losses according to the portfolio segment and percentage of the provisions representing the outstanding balance of the loan, established in Section Fifth of "*De la constitución de reservas y su clasificación por grado de riesgo*", contained in chapter 5 of Title II of such regulation.<br>|

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 64 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Annex 2. Financial ratios according to CNBV** | **Annex 2. Financial ratios according to CNBV** | **Annex 2. Financial ratios according to CNBV** | **Annex 2. Financial ratios according to CNBV** | **Annex 2. Financial ratios according to CNBV** | **Annex 2. Financial ratios according to CNBV** |
| **Percentages** | **4Q22** | **3Q22** | **4Q21** | **12M22** | **12M21** |
| Past due loans ratio | 1.88 | 2.01 | 2.18 | 1.88 | 2.18 |
| Past due loans coverage | 145.82 | 133.58 | 141.38 | 145.82 | 141.38 |
| Operative efficiency | 2.61 | 2.25 | 3.06 | 2.24 | 2.61 |
| ROE | 15.42 | 20.50 | 12.68 | 16.26 | 10.93 |
| ROA | 1.33 | 1.77 | 1.27 | 1.40 | 1.09 |
| Capitalization ratio: |  |  |  |  |  |
| Credit Risk | 30.18 | 29.18 | 32.57 | 30.18 | 32.57 |
| Credit, Market and operational risk | 19.38 | 18.90 | 21.56 | 19.38 | 21.56 |
| Liquidity | 95.70 | 93.07 | 101.08 | 95.70 | 101.08 |
| NIM (Net Interest Margin) | 3.85 | 4.52 | 3.11 | 3.78 | 2.80 |

---

**Note:** ratios are prepared according to the general rules applicable to financial information of credit institutions, issued by the CNBV, according to Annex 34.

NPL ratio = Balance of past due loans portfolio as of the end of the quarter / Balance of loans portfolio as of the end of the quarter.

Coverage ratio= Balance of provision for loan losses as of the end of the quarter / Balance of past due loans portfolio as of the end of the quarter.

Efficiency ratio = Administration and promotion expenses of the quarter, annualized / Total Average Assets.

ROAE = Annualized quarterly net earnings/ Average stockholders' equity.

ROAA = Annualized quarterly net earnings /Total average assets.

Breakdown of capitalization ratio: (1)=Net Capital/ Assets subject to credit risk. (2)=Net Capital / Assets subject to credit, market and operation risk.

Liquidity = Current Assets/ Current Liabilities.

Where: Current Assets = Availabilities + securities for trade + securities available for sale.

Current liabilities= Demand deposits + bank loans and loans from other entities, payable on demand, + short term bank loans and loans from other entities.

NIM = Quarterly Net Interest Margin, adjusted by annualized credit risks / Average interest-earning assets.

Where: Average interest-earning assets = availabilities, investments in securities, transactions with securities and derivatives and loan portfolio.

**Notes:**

Average = ((Balance of the corresponding quarter + balance of the previous quarter) / 2).

Annualized figures = (Flow of the corresponding quarter \* 4).

**<u>Notes to consolidated financial statements</u>**

---

| |
|:---|
| **Notes to financial statements as of December 31<sup>st</sup> 2022** |
| Million pesos, except for number of shares |

---

1. Investment in securities

---

| | |
|:---|:---|
| **1. Investments in Financial Instruments** |  |
| Investments in Financial Instruments are constituted as follows: |  |
|  | **Book Value** |
| **Negotiable financial instruments:** |  |

---

---

| | |
|:---|:---|
| Bank securities | 8494 |
| Government securities | 121656 |
| Shares | 4062 |
|  | **134212** |
| **Financial instruments to collect or sell:** |  |
| Government securities | 313665 |
| Private securities | 241 |
| Shares | 644 |
|  | **314550** |
| **Financial instruments to collect principal and interest (securities)(net):** |  |
| Government securities | 20030 |
| Government securities (special cetes) | 2122 |
|  | **22152** |
| **Total** | **470914** |

---

2. Sale and repurchase agreements

---

| | |
|:---|:---|
| **2. Sale and repurchase agreements** | **2. Sale and repurchase agreements** |
| The sale and repurchase agreements transactions are constituted as follows: | The sale and repurchase agreements transactions are constituted as follows: |
|  | **Net balance** |
| **Debit balances** |  |
| Bank securities | 6278 |
| Government securities | 115581 |
| **Total** | **121859** |
| **Credit balances** |  |
| Bank securities | 5781 |
| Government securities | 205838 |
| Private securities | 259 |
| **Total** | **211878** |
|  | **(90019)** |

---

3. Investment in securities

---

| |
|:---|
| **3. Investment in securities different to government securities** |
| At December 31<sup>st</sup>, 2022 the investments in debt securities with the same issuer (other than government), are less than 5% of the Institution's net capital. |

---

4. Derivatives

---

| | | |
|:---|:---|:---|
| **4. Derivatives** | | |
| The nominal value of the different derivative financial instruments agreements for trading and hedging purposes, as of December 31<sup>st</sup>, 2022, are as follows: | The nominal value of the different derivative financial instruments agreements for trading and hedging purposes, as of December 31<sup>st</sup>, 2022, are as follows: | The nominal value of the different derivative financial instruments agreements for trading and hedging purposes, as of December 31<sup>st</sup>, 2022, are as follows: |
| **Trading:** |  |  |
| **<u>Swaps</u>** |  |  |
| Interest rate | 7706954 |  |
| Cross currency | 1003424 |  |
| Equity | 450 |  |
| **<u>Futures</u>** | **Buy** | **Sell** |
|  | **Buy** | **Sell** |
| Foreign currency | 15172 | 48052 |
| Index | 127 |  |
| **<u>Forward contracts</u>** |  |  |
| Foreign currency | 384313 | 7986 |
| **<u>Options</u>** | **Long** | **Short** |
| Interest rate | 65478 | 105508 |
| Foreign currency | 95568 | 99890 |
| Indexes | 336 | 1952 |
| Equity | 2539 | 3570 |
| **Total trading derivatives** | **9274361** | **266958** |
| **Hedging:** |  |  |
| **<u>Cash flow</u>** |  |  |
| Cross currency swaps | 8892 |  |
| Foreign Exchange Forwards | 49778 |  |
| **<u>Fair value</u>** |  |  |
| Interest rate swaps | 128532 |  |
| Cross currency swaps | 21098 |  |
| **Total hedging derivatives** | **208300** |  |
| **Total derivative financial instruments** | **9482661** | **266958** |

---

5. Credit Portfolio by Sector

---

| | | | | |
|:---|:---|:---|:---|:---|
| **5. Credit Portfolio by Sector** | **5. Credit Portfolio by Sector** | **5. Credit Portfolio by Sector** | **5. Credit Portfolio by Sector** | **5. Credit Portfolio by Sector** |
| V. Identification of the portfolio by stages of credit risk, as well as by type of credit and by type of currency. | V. Identification of the portfolio by stages of credit risk, as well as by type of credit and by type of currency. | V. Identification of the portfolio by stages of credit risk, as well as by type of credit and by type of currency. | V. Identification of the portfolio by stages of credit risk, as well as by type of credit and by type of currency. | V. Identification of the portfolio by stages of credit risk, as well as by type of credit and by type of currency. |
| **2022** | **2022** | **2022** | **2022** | **2022** |
|  | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| **By loan type:** |  |  |  |  |
| Commercial, financial and industrial loans | 338693 | 21742 | 5150 | **365585** |
| Public sector loans | 84583 |  |  | **84583** |
| Mortgage loans | 195533 | 8928 | 6346 | **210807** |
| Installment loans to individuals | 141916 | 3448 | 3742 | **149106** |
| Revolving consumer credit card loans | 60731 | 1872 | 1747 | **64350** |
| Non-revolving consumer loans | 81185 | 1576 | 1995 | **84756** |
|  | **760725** | **34118** | **15238** | **810081** |

---

**5a. Loan Portfolio Stage 1 and Stage 2**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **5a. Loan Portfolio Stage 1 and Stage 2** | **5a. Loan Portfolio Stage 1 and Stage 2** | **5a. Loan Portfolio Stage 1 and Stage 2** | **5a. Loan Portfolio Stage 1 and Stage 2** | **5a. Loan Portfolio Stage 1 and Stage 2** | **5a. Loan Portfolio Stage 1 and Stage 2** |
| The loan portfolio, by type of loan and currency, as of December 31<sup>st</sup>, 2022, is constituted as follows: | The loan portfolio, by type of loan and currency, as of December 31<sup>st</sup>, 2022, is constituted as follows: | The loan portfolio, by type of loan and currency, as of December 31<sup>st</sup>, 2022, is constituted as follows: | The loan portfolio, by type of loan and currency, as of December 31<sup>st</sup>, 2022, is constituted as follows: | The loan portfolio, by type of loan and currency, as of December 31<sup>st</sup>, 2022, is constituted as follows: | The loan portfolio, by type of loan and currency, as of December 31<sup>st</sup>, 2022, is constituted as follows: |
|  | **Amount** | **Amount** | **Amount** | **Amount** | **Amount** |
| **Stage 1** | **Pesos** | **USA Dlls** | **UDIS** | **Euros** | **Total** |
| Commercial or business activity | 262760 | 58899 | 2487 | 786 | **324932** |
| Financial entities | 13160 | 601 |  |  | **13761** |
| Government entities | 66245 | 18338 | - | - | **84583** |
| Commercial loans | **342165** | **77838** | **2487** | **786** | **423276** |
| Consumer loans | **141916** |  |  |  | **141916** |
| Media and residential | 184689 | 235 | 1442 |  | **186366** |
| Of social interest | 586 |  |  |  | **586** |
| Credits acquired from INFONAVIT or FOVISSSTE | 8581 | - | - | - | **8581** |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 65 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Mortgage loans | **193856** | **235** | **1442** | **-** | **195533** |
| **Total loan portfolio Stage 1** | **677937** | **78073** | **3929** | **786** | **760725** |
| **Stage 2** | **Pesos** | **USA Dlls** | **UDIS** | **Euros** | **Total** |
| Commercial or business activity | 19116 | 2520 |  |  | **21636** |
| Financial entities | 106 | - | - | - | **106** |
| Commercial loans | **19222** | **2520** | **-** | **-** | **21742** |
| Consumer loans | **3448** | **-** | **-** | **-** | **3448** |
| Media and residential | 8315 | 42 | 286 |  | **8643** |
| Of social interest | 5 |  |  |  | **5** |
| Credits acquired from INFONAVIT or FOVISSSTE | 280 | - | - | - | **280** |
| Mortgage loans | **8600** | **42** | **286** | **-** | **8928** |
| **Total loan portfolio Stage 2** | **31270** | **2562** | **286** | **-** | **34118** |

---

6. Loan Portfolio Stage 3

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **6. Loan Portfolio Stage 3** | | | | | |
| | **Amount** | **Amount** | **Amount** | **Amount** | **Amount** |
| | **Pesos** | **USA Dlls** | **USA Dlls** | **UDIS** | **Total** |
| Commercial or business activity | 4280 | 519 | 519 | 0 | **4799** |
| Financial entities | 351 | 0 | 0 | 0 | **351** |
| Commercial loans | **4631** | **519** | **519** | **0** | **5150** |
| Consumer loans | 3742 | **0** | **0** | **0** | **3742** |
| Media and residential | 5557 | 44 | 44 | 144 | **5745** |
| Of social interest | 5 | 0 | 0 | 0 | **5** |
| Credits acquired from Infonavit or Fovissste | 596 | 0 | 0 | 0 | **596** |
| Mortgage loans | **6158** | **44** | **44** | **144** | **6346** |
| **Total loan portfolio Stage 3** | **14531** | **563** | **563** | **144** | **15238** |
| The analysis of movements in non-performing loans from December 31<sup>st</sup>, 2021 to December 31<sup>st</sup>, 2022, is as follows: | The analysis of movements in non-performing loans from December 31<sup>st</sup>, 2021 to December 31<sup>st</sup>, 2022, is as follows: | The analysis of movements in non-performing loans from December 31<sup>st</sup>, 2021 to December 31<sup>st</sup>, 2022, is as follows: | The analysis of movements in non-performing loans from December 31<sup>st</sup>, 2021 to December 31<sup>st</sup>, 2022, is as follows: | The analysis of movements in non-performing loans from December 31<sup>st</sup>, 2021 to December 31<sup>st</sup>, 2022, is as follows: | The analysis of movements in non-performing loans from December 31<sup>st</sup>, 2021 to December 31<sup>st</sup>, 2022, is as follows: |
| **Balance as of December 31<sup>st</sup>, 2021** |  |  |  |  | **16391** |
| Plus: Transfer from performing loan portfolio to non-performing loan portfolio | Plus: Transfer from performing loan portfolio to non-performing loan portfolio | Plus: Transfer from performing loan portfolio to non-performing loan portfolio | Plus: Transfer from performing loan portfolio to non-performing loan portfolio | Plus: Transfer from performing loan portfolio to non-performing loan portfolio | **35623** |
| Collections | Collections |  |  |  |  |
| Cash | Cash |  | 959 | 959 |  |
| Transfer to performing loan portfolio | Transfer to performing loan portfolio | Transfer to performing loan portfolio | (17853) | (17853) |  |
| Proceeds from foreclosure proceedings | Proceeds from foreclosure proceedings | Proceeds from foreclosure proceedings | (592) | (592) |  |
| Write-offs |  |  |  |  | (19290) |
| Adjustment for exchange rate |  |  |  |  | 0 |
| **Balance as of December 31<sup>st</sup>, 2022** |  |  |  |  | **15238** |

---

7. Allowance for loan losses

---

| | |
|:---|:---|
| **7. Allowance for loan losses** |  |
| The movement in the allowance for loan losses, from January 1<sup>st</sup> to December 31<sup>st</sup>, 2022, is as follows: | The movement in the allowance for loan losses, from January 1<sup>st</sup> to December 31<sup>st</sup>, 2022, is as follows: |
| **Balance as of January 1<sup>st</sup>, 2022** | **23174** |
| Allowance for loan losses | 12227 |
| Write-offs | (19162) |
| Foreign exchange result | 3725 |
| Initial adoption of accounting criteria | 2256 |
| **Balance as of December 31<sup>st</sup> 2022** | **22220** |
| The table below presents a summary of write-offs by type of product as of December 31<sup>st</sup>, 2022: | The table below presents a summary of write-offs by type of product as of December 31<sup>st</sup>, 2022: |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 66 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Product** | **Charge-offs** | **Debit Relieves** | **Total** | **%** |
| **<u>First quarter</u>** |  |  |  |  |
| Commercial loans | 1865 | 119 | 1984 | 39.0 |
| Mortgage loans | 375 | 36 | 411 | 8.1 |
| Credit card loans | 1271 | 77 | 1348 | 26.5 |
| Consumer loans | 1327 | 22 | 1349 | 26.5 |
| **Total** | **4838** | **254** | **5092** | **100.0** |
| **<u>Second quarter</u>** |  |  |  |  |
| Commercial loans | 1161 | 109 | 1270 | 30.0 |
| Mortgage loans | 410 | 48 | 458 | 10.8 |
| Credit card loans | 1111 | 54 | 1165 | 27.5 |
| Consumer loans | 1316 | 22 | 1338 | 31.6 |
| **Total** | **3998** | **233** | **4231** | **100.0** |
| **<u>Third quarter</u>** |  |  |  |  |
| Commercial loans | 799 | 89 | 888 | 20.9 |
| Mortgage loans | 386 | 41 | 427 | 10.1 |
| Credit card loans | 1247 | 52 | 1299 | 30.6 |
| Consumer loans | 1615 | 17 | 1632 | 38.4 |
| **Total** | **4047** | **199** | **4246** | **100.0** |
| **<u>Fourth quarter</u>** |  |  |  |  |
| Commercial loans | 409 | 91 | 500 | 8.9 |
| Mortgage loans | 1593 | 23 | 1616 | 28.9 |
| Credit card loans | 1938 | 62 | 2000 | 35.8 |
| Consumer loans | 1462 | 15 | 1477 | 26.4 |
| **Total** | **5402** | **191** | **5593** | **100.0** |
| **<u>Accumulated 2022</u>** |  |  |  |  |
| Commercial loans | 4234 | 408 | 4642 | 24.2 |
| Mortgage loans | 2764 | 148 | 2912 | 15.2 |
| Credit card loans | 5567 | 245 | 5812 | 30.3 |
| Consumer loans | 5720 | 76 | 5796 | 30.2 |
| **Total** | **18285** | **877** | **19162** | **100.0** |

---

8. Problematic loans

---

| |
|:---|
| **8. Problematic loans** |
| Loans portfolio was graded according to the general provisions issued by the National Banking and Securities Commission. The management considers that problematic loans are the ones graded as "D" and "E", due to their low possibility for the collection of the full amount of principal. |

---

9. Programs of benefits to bank debtors with the support of the Federal Government

---

| |
|:---|
| **9. Programs of benefits to bank debtors with the support of the Federal Government** |
| Breakdown of special CETES , of which Ps.2,122 million correspond to the early extinction of debtor support programs: |

---

---

| | |
|:---|:---|
|  | **Amount** |
| Government Securities |  |
| Special CETES for housing loan debtor support programs | 2211 |
| Total securities held to maturity (no reserve) | **2211** |
| Minus- |  |
| Reserve for Special CETES | (89) |
| Total securities held to maturity , net | **2122** |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 67 |

---

The remaining balance and expiration date Special Cetes that were not repurchased by the Federal Government and therefore the Financial Group holds in its balance sheet at December 31<sup>st</sup>, 2022, is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Issue** | **Trust** | **Securities Number** | **Due date** | **Price (MXN)** | **Amount** |
| B4-270701 | 423-2 | 15292752 | 01-jul-27 | 141 | 2211 |
| | | | | | **2,211** |

---

0. Average interest rates paid on deposits

---

| | | |
|:---|:---|:---|
| **10. Average interest rates paid on deposits** | **10. Average interest rates paid on deposits** | **10. Average interest rates paid on deposits** |
| The average interest rates paid on deposits during December 2022, is as follow: | The average interest rates paid on deposits during December 2022, is as follow: | The average interest rates paid on deposits during December 2022, is as follow: |
|  | **Pesos** | **USD** |
| Average balance | 450583 | 68248 |
| Interest | 3430 | 4 |
| Rate | 2.98% | 0.02% |

---

11. Bank and other loans

---

| | | | |
|:---|:---|:---|:---|
| **11. Bank and other loans** | **11. Bank and other loans** | **11. Bank and other loans** | **11. Bank and other loans** |
| As of December 31<sup>st</sup>, 2022, banks and other loans are constituted as follows: | As of December 31<sup>st</sup>, 2022, banks and other loans are constituted as follows: | As of December 31<sup>st</sup>, 2022, banks and other loans are constituted as follows: | As of December 31<sup>st</sup>, 2022, banks and other loans are constituted as follows: |
| **Liabilities** | **Amount** | **Average**<br>**Rate (%)**<br>| **Maturity** |
| **<u>Loans in pesos</u>** |  |  |  |
| Local bank loans | 5047 | 8.05 | To 5 years |
| Public fiduciary funds | 18037 | 10.39 | To 7 years |
| Development banking institutions | 5031 | 10.80 | To 11 years |
| **Total** | **28115** |  |  |
| **<u>Loans in foreign currency</u>** |  |  |  |
| Public fiduciary funds | 2374 | 4.18 | From 1 day to 9 years |
| Development banking institutions | 93 | 5.76 | From 1 to 9 months |
| **Total** | **2467** |  |  |
| Total loans | 30582 |  |  |
| Accrued interests | 224 |  |  |
| **Total bank and other loans** | **30806** |  |  |

---

---

| | |
|:---|:---|
| **12. Current and deferred taxes** |  |
| Current taxes are composed as follows at December 31<sup>st</sup>, 2022 |  |
| Income taxes | 9465 |
| Deferred taxes | (2516)**<sup>(1)</sup>** |
| **Total Bank** | **6949** |
| Current and-deferred taxes from other subsidiaries | 2223 |
| **Total consolidated Bank** | **9172** |
| **(1) Deferred taxes are composed as follows:** |  |
| Global provision | (1492) |
| Fixed assets and deferred charges | (554) |
| Net effect from financial instruments | (632) |
| Accrued liabilities | (141) |
| Others | 303 |
| **Total Bank** | **(2516)** **<sup>(1)</sup>** |
| Allowance for loan losses of subsidiaries, net | (628) |
| Others, subsidiaries | 154 |
| **Total deferred tax, consolidated Bank** | **(2990)** |
| As of December 31<sup>st</sup>, 2022, deferred assets and deferred liabilities are registered at 100% |  |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 68 |

---

---

| | |
|:---|:---|
| Remainder of global provisions and allowances for loan losses | 11696 |
| Other | 11562 |
| **Total deferred income tax (net)** | **23258** |
| **Deferred taxes registered in balance sheet accounts** | **23258** |
| **Deferred taxes registered in memorandum accounts** | **0** |

---

13. Employee profit sharing

---

| | |
|:---|:---|
| **13. Employee profit sharing** | |
| As of December 31<sup>st</sup>, 2022, the deferred Employee profit sharing "EPS" is compromised as follows: | As of December 31<sup>st</sup>, 2022, the deferred Employee profit sharing "EPS" is compromised as follows: |
| **Asset per deferred EPS:** |  |
| Allowance for loan losses deducting outstanding | 1207 |
| Fixed assets and deferred charges | 324 |
| Accrued liabilities | 233 |
| Capital losses carryforward | 218 |
| Commissions and interests early collected | 111 |
| Foreclosed assets | 33 |
| Labor obligations | 61 |
| Derivative financial transactions of exchange rate | 103 |
| Net effect from financial instruments | 291 |
| **Deferred EPS asset:** | **2581** |
| **Deferred EPS liability:** |  |
| Advance payments | (121) |
| **Deferred EPS liability** | **(121)** |
| Less - Reserve | - |
| **Deferred EPS asset (net)** | **2460** |

---

14. Capitalization Ratio

**14. Capitalization Ratio**

**Table I.1**

**Form of disclosure of the capital integration without considering the phase in in the application of regulatory adjustments**

---

| | | |
|:---|:---|:---|
| Reference | Capital Description | Capital |
|  | Level 1 (CET 1) Ordinary capital: Instruments and reserves |  |
| 1 | Ordinary shares that qualify for level 1 Common Capital plus corresponding premium | 34702 |
| 2 | Earnings from previous fiscal years | 85724 |
| 3 | Other elements of other comprehensive income (and other reserves) | 45547 |
| 4 | Capital subject to gradual elimination of level 1 ordinary capital (only applicable for companies that are not lined to shares) |  |
| 5 | Ordinary shares issued by subsidiaries held by third parties (amount allowed in level 1 ordinary capital) |  |
| 6 | Level 1 ordinary capital before adjustments to regulation | 165974 |
|  | Level 1 Ordinary capital: adjustments to regulation |  |
| 7 | Adjustments due to prudential valuation |  |
| 8 | &nbsp;&nbsp;&nbsp; Goodwill (net of its corresponding deferred profit taxes debited) | 2404 |
| 9 | Other intangibles other than rights to mortgage rights (net of its corresponding deferred profit taxes debited) | 8694 |
| 10 | Deferred taxes to profit credited relying on future income excluding those that derive from temporary differences (net of deferred profit taxes debited) | 0 |
| 11 | Results of valuation of cash flow hedging instruments | 0 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 69 |

---

---

| | | |
|:---|:---|:---|
| 12 | Reserves to be constituted | 0 |
| 13 | Benefits surplus of securitization transactions | 0 |
| 14 | Losses and gains caused for the changes in credit rating of liabilities assessed at a reasonable value | N/A |
| 15 | Pension plan for defined benefits | 0 |
| 16 | Investments in proprietary shares | 0 |
| 17 | Reciprocal investments in ordinary capital | 0 |
| 18 | Investments in capital of banks, financial institutions and insurance companies out of the reach of the regulation consolidation, net of short eligible positions, wherein the institution does not hold more than 10% of the issued capital (amount that exceeds the 10% threshold) | 18 |
| 19 | Significant investments in ordinary shares of banks, financial institutions and insurance companies out of the scope of the regulation consolidation, nets of eligible short positions, wherein the institutions holds more than 10% of the issued capital (amount that exceeds the 10% threshold) | 0 |
| 20 | Rights for mortgage services (amount exceeding the 10% threshold) | 0 |
| 21 | Deferred taxes assets resulting from temporary differences (amount exceeding the 10% threshold, net of deferred taxes debited) | 4589 |
| 22 | Amount exceeding the 15% threshold. |  |
| 23 | of which: significant investments wherein the institution holds more than 10% of ordinary shares of financial institutions |  |
| 24 | of which: rights for mortgage services |  |
| 25 | of which: Taxes to profit Deferred credited deriving from temporary differences |  |
| 26 | National regulation adjustments | 41191 |
| A | of which: Other elements of other comprehensive income (and other reserves) | 0 |
| B | of which: investments in subordinated debt | 0 |
| C | of which: profit or increase in the value of assets from the purchase of securitization positions (Originating Institutions) | 0 |
| D | of which: investments in multilateral entities | 0 |
| E | of which: investments in related corporations | 38079 |
| F | of which: investments in risk capital | 0 |
| G | of which: Stakes on investments funds | 0 |
| H | of which: Funding for the purchase of proprietary shares | 0 |
| I | of which: Transactions in breach of provisions | 0 |
| J | of which: Deferred charges and installments | 2619 |
| K | of which: Positions in First Losses Schemes | 0 |
| L | of which: Worker's Deferred Profit Sharing | 0 |
| M | of which: Relevant Related Persons | 0 |
| N | of which: Pension plan for defined benefits | 0 |
| O | of witch: Adjustment for capital acknowledgment | 0 |
| P | of which: investments in Clearing Houses | 492 |
| 27 | Regulation adjustments that apply to level 1 common stock due to level 1 capital shortage and level 2 capital to cover deductions | 0 |
| 28 | Total regulation adjustments to level 1 Common Capital | 62625 |
| 29 | Level 1 Common Capital (CET1) | 103348 |
|  | Level 1 additional capital: instruments |  |
| 30 | Instruments directly issued that qualify as level 1 additional capital, plus premium | 13656 |
| 31 | of which: Qualify as capital under the applicable accounting criteria | 13656 |
| 32 | of which: Qualify as liability under the applicable accounting criteria |  |
| 33 | Capital instruments directly issued subject to gradual elimination of level 1 additional capital | N/A |
| 34 | Instruments issued of level 1 additional capital and level 1 Common Capital instruments that are not included in line 5 issued by subsidiaries held by third parties (amount allowed at additional level 1) | N/A |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 70 |

---

---

| | | |
|:---|:---|:---|
| 35 | of which: instruments issued by subsidiaries subject to gradual elimination |  |
| 36 | Level 1 additional capital before regulation adjustments | 13656 |
|  | Level 1 additional capital: regulation adjustments |  |
| 37 | Investments in held instruments of level 1 additional capital |  |
| 38 | Investments in reciprocal shares in level 1 additional capital instruments. |  |
| 39 | Investments in capital of banks, financial institutions and insurance companies out of the scope of the regulation consolidation, net of short eligible positions, wherein the institution holds more than 10% of the issued capital |  |
| 40 | Significant investments in ordinary shares of banks, financial institutions and insurance companies out of the scope of the regulation consolidation, nets of eligible short positions, wherein the institutions holds more than 10% of the issued capital |  |
| 41 | National regulation adjustments | 0 |
| 42 | Regulation adjustments that apply to level 1 common stock due to level 1 capital shortage and level 2 capital to cover deductions |  |
| 43 | Total regulation adjustments to level 1 additional Common Capital | 0 |
| 44 | Level 1 additional capital (AT1) | 13656 |
| 45 | Level 1 capital (T1 = CET1 + AT1) | 117004 |
|  | Level 2 capital: instruments and reserves |  |
| 46 | Instruments directly issued that qualify as level 2 capital, plus premium | 25727 |
| 47 | Capital instruments directly issued subject to gradual elimination of level 2 capital. |  |
| 48 | Level 2 capital instruments and level 1 Common Capital instruments and level 1 additional capital that has not been included in lines 5 or 34, which have been issued by subsidiaries held by third parties (amount allowed in level 2 completer capital) | N/A |
| 49 | of which: instruments issued by subsidiaries subject to gradual elimination | N/A |
| 50 | Reserves | 1100 |
| 51 | Level 2 capital before regulation adjustments | 26827 |
|  | Level 2 capital : regulation adjustments |  |
| 52 | Investments in own instruments of level 2 capital |  |
| 53 | Reciprocal investments in level 2 capital instruments |  |
| 54 | Investments in capital of banks, financial institutions and insurance companies out of the scope of the regulation consolidation, net of short eligible positions, wherein the institution does not hold more than 10% of the issued capital (amount exceeding the 10% threshold) |  |
| 55 | Significant investments in ordinary shares of banks, financial institutions and insurance companies out of the scope of the regulation consolidation, nets of eligible short positions, wherein the institutions holds more than 10% of the issued capital |  |
| 56 | National regulation adjustments | 0 |
| 57 | Total regulation adjustments to level 2 capital | 0 |
| 58 | Level 2 capital (T2) | 26827 |
| 59 | Total stock (TC = T1 + T2) | 143832 |
| 60 | Total Risk Weighted Assets | 742079 |
|  | Capital reasons and buffers |  |
| 61 | Level 1 Common Capital (as percentage of assets weighted by total risks) | 13.93% |
| 62 | Level 1 Stock (as percentage of assets weighted by total risks) | 15.77% |
| 63 | Total capital (as percentage of assets weighted by total risks) | 19.38% |
| 64 | Institutional specific buffer (must at least consist of: the level 1 Common Capital requirement plus the capital maintenance buffer, plus the countercyclical buffer, plus D-SIB buffer; expressed as percentage of the total risk weighted assets) | 17.63% |
| 65 | of which: Buffer of capital preservation | 2.50% |
| 66 | of which: Buffer of specific bank countercyclical |  |
| 67 | of which: Buffer of systematically important local banks (D-SIB) | 1.20% |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 71 |

---

---

| | | |
|:---|:---|:---|
| 68 | Level 1 Common Capital available for hedging the buffers (as percentage of total risk weighted assets) | 6.93% |
|  | National minimums (if other than those of Basel 3) |  |
| 69 | National minimum reason of CET1 (if different than the minimum established by Basilea 3) |  |
| 70 | National minimum reason of T1 (if different than the minimum established by Basel 3) |  |
| 71 | National minimum reason of TC (if different than the minimum established by Basel 3) |  |
|  | Amounts under the deduction thresholds (before weighting by risk) |  |
| 72 | Non-significant investment in the capital of other financial institutions |  |
| 73 | Significant investment in the capital of other financial institutions |  |
| 74 | Rights for mortgage services (net of Deferred profit taxes debited) |  |
| 75 | Deferred profit taxes credited derived from temporary differences (net of Deferred profit taxes debited) | 16638 |
|  | Applicable limits to the inclusion of reserves in level 2 capital |  |
| 76 | Eligible reserves to be included in level 2 capital with respect to expositions subject to standardized methodology (prior application of limit) |  |
| 77 | Limit in the inclusion of level 2 capital provisions under standardized methodology |  |
| 78 | Eligible reserves for its inclusion on level 2 capital regarding exposure subject to credit risks (before the limit application). |  |
| 79 | Limit in the inclusion of reserves in level 2 capital under internal rating methodology |  |
|  | Capital instruments subject to gradual elimination (applicable only between January 1, 2018 and January 1, 2022) |  |
| 80 | Current limit of CET1 instruments subject to gradual elimination |  |
| 81 | Amount excluded from CET1 due to limit (excess over the limit after amortization and maturity periods) |  |
| 82 | Current limit of AT1 instruments subject to gradual elimination |  |
| 83 | Amount excluded from AT1 due to limit (excess over the limit after amortization and maturity periods) |  |
| 84 | Current limit of T2 instruments subject to gradual elimination |  |
| 85 | Amount excluded from T2 due to limit (excess over the limit after amortization and maturity periods) |  |

---

**I.2**

**Notes to Table I.1 "Form of disclosure of the capital integration without considering the phase in in the application of regulatory adjustments"**

---

| | |
|:---|:---|
| **Reference** | **Description** |
| 1 | Elements of capital contributed pursuant to fraction I item a) numbers 1) and 2) of Article 2 Bis 6 hereof |
| 2 | Results from previous fiscal years and their corresponding updates. |
| 3 | Capital reserves, net result, result per assessment of titles available for sale, accrued effect per conversion, result per assessment of cash flow, result from non-monetary assets holding, and the measuring balance from defined benefits to the employees considering on each concept its updates. |
| 4 | Does not apply. The capital stock of credit institutions in Mexico is represented by representative certificates or shares. This concept only applies for entities where such capital is represented by representative certificates or shares. |
| 5 | Does not apply for the capitalization scope in Mexico which is on a non-consolidated basis. This concept will only apply for entities with a consolidated scope. |
| 6 | Sum of concepts 1 through 5. |
| 7 | Does not apply. In Mexico the use of internal models for calculating capital requirements per market risk is not allowed. |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 72 |

---

---

| | |
|:---|:---|
| 8 | Goodwill, net of owed differed profit taxes pursuant to the provisions of fraction I item n) of Article 2 Bis 6 hereof. |
| 9 | Intangibles, other than commercial credit, and if applicable to mortgage service rights, net of owed deferred profit taxes, pursuant to the provisions of fraction I item n) of Article 2 Bis 6 hereof. |
| 10\* | Credited deferred profit taxes from losses and fiscal credits pursuant to the provisions of fraction I item p) of Article 2 Bis 6 hereof. |
| 10\* | This is a more conservative approach than the one established by the Basel Committee on Banking Supervision in its document "Basel III: Global legal framework for the reinforcement of banks and banking systems" published on June 2011, given that it does not allow to set off with owed differed profit taxes. |
| 11 | Result from assessment of cash flow hedging instruments corresponding to hedged entries that are not assessed at reasonable value. |
| 12\* | Reserves pending constitution pursuant to the provisions of fraction I item k) of Article 2 Bis 6 hereof. |
| 12\* | This is a more conservative approach than the one established by the Basel Committee on Banking Supervision in its document "Basel III: Global legal framework for the reinforcement of banks and banking systems" published on June 2011, given that deducts from level 1 common stock the preventive reserves pending constitution, according to the provisions of Chapter V of the Second Title hereof, as well as those constituted charged to accounting accounts that are part of the result entries or shareholders' equity and not only the positive difference between the Aggregate Expected Losses minus the Aggregate Admissible Reserves, in the event the Institutions use methods based in internal qualifications in the determination of their capital requirements. |
| 13 | Benefits surplus of securitization transactions pursuant to the provisions of fraction I item c) of Article 2 Bis 6 hereof. |
| 14 | Does not apply |
| 15 | Investments made by the benefit pension fund defined corresponding to resources to which the Institution does not have unrestrictive or unlimited access. These investments are considered as net of the plan's liabilities and owed differed taxes to profit that correspond that have not been applied in any other regulatory adjustment. |
| 16\* | The amount of investment in any own action the institution acquires : in accordance with the provisions of the Act in accordance with the provisions of section I subsection d) of Article 2 Bis 6 of these provisions ; through rates predicted values of section I subsection e) of Section 2 Bis 6 of these provisions and through investment in funds established in section I point i) of article 2 bis 6. |
| 16\* | This treatment is more conservative than the one established by the Committee on Banking Basel Supervision in its document " Basel III : A global regulatory framework for more resilient banks and banking systems " published in June 2011 because the deduction for this concept is made of common equity tier 1 capital , regardless of the level of capital which has been invested |
| 17\* | Investments, in capital of corporations, other than financial entities referred to by item f) of Article 2 Bis 6 hereof, that are in turn, directly or indirectly, shareholders of the institution itself, of the fund |
| 17\* | This is a more conservative approach to the one established by the Basel Committee on Banking Supervision in its documents "Basel III: Global regulatory framework for the reinforcement of banks and banking systems" published on June 2011 given that the deduction for this concept is made in the level 1 common stock, irrespective of the capital level where it has been invested, and in addition because any type of entity is considered, not only financial entities. |

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| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 73 |

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| | |
|:---|:---|
| 18\* | Investments in shares, where the Institution owns up to 10% of the capital stock of the financial entities referred to by Articles 89 of the Law and 31 of the Law Regulating Financial Groups pursuant to the provisions of fraction I item f) of Article 2 Bis 6 hereof, including those investments made through investment funds referred to by fraction I item i) of Article 2 Bis 6. The previous investments exclude those made in the capital of development and promotion multilateral organizations of an international nature that have a credit Qualification assigned by any of the issuer's Qualifying Institutions, equal or greater than long term Risk Degree 2. |
| 18\* | This is a more conservative approach to the one established by the Basel Committee on Banking Supervision in its documents "Basel III: Global regulatory framework for the reinforcement of banks and banking systems" published on June 2011 given that the deduction for this concept is made in level 1 common stock, irrespective of the capital level in which it is invested, and additionally because it is deducted from the aggregate amount registered of the investments. |
| 19\* | Investments in shares, where the Institution owns up to 10% of the capital stock of the financial entities referred to by Articles 89 of the Law and 31 of the Law Regulating Financial Groups pursuant to the provisions of fraction I fraction f) of Article 2 Bis 6 hereof, including those investments made through investment funds referred to by fraction I item i) of Article 2 Bis 6. The previous investments exclude those made in development and promotion multilateral organizations of an international nature that have a credit Qualification assigned by any of the issuer's Qualifying institutions, equal or greater than long term Risk Degree 2. |
| 19\* | This is a more conservative approach to the one established by the Basel Committee on Banking Supervision in its documents "Basel III: Global regulatory framework for the reinforcement of banks and banking systems" published on June 2011 given that the deduction for this concept is made from level 1 common stock, irrespective of the level of capital where it has been investment, and additionally because the aggregate amount registered of investments is deducted. |
| 20\* | Mortgage service s rights shall be deducted from the aggregate amount registered in the event these rights exist. |
| 20\* | This is a more conservative approach to the one established by the Basel Committee on Banking Supervision in its documents "Basel III: Global regulatory framework for the reinforcement of banks and banking systems" published on June 2011 given that the aggregate amount registered of rights is deducted. |
| 21 | Deferred taxes assets resulting from temporary differences minus the corresponding owed differed profit taxes not considered to set-off other adjustments, exceeding 10% of the difference between the reference 6 and the sum of references 7 through 20. |
| 22 | Does not apply. Concepts were deducted from the aggregate capital. See notes of references 19, 20 and 21. |
| 23 | Does not apply. Concepts were deducted from the aggregate capital. See note of references 19. |
| 24 | Does not apply. Concepts were deducted from the aggregate capital. See note of reference 20. |
| 25 | Does not apply. Concepts were deducted from the aggregate capital. See note of reference 21. |
| 26 | National adjustments considered as the sum of the following concepts. |
| A. | The sum of the accrued effect for conversion and result for ownership of non-monetary assets considering the amount of each of these concepts with a sign different than the one considered to include them in reference 3, namely, if positive in this concept shall be entered as negatives and vice versa. |
| B. | Investments in subordinated debt instruments, pursuant to the provisions of fraction I item b) of Article 2 Bis 6 hereof. |
| C. | The amount resulting if on account of the purchase of securitization positions, the originating Institutions register a profit or increase in the value of their assets with respect to the assets previously registered in its balance, pursuant to the provisions of fraction I item c) of Article 2 Bis 6 hereof. |
| D. | Investments in capital of development or promotion multilateral organizations of an international nature pursuant to the provisions of fraction I item f) of Article 2 Bis 6 hereof, that have a credit Qualification assigned by any of the issuer's Qualifying Institutions, equal or better to long term Risk Degree 2. |
| E. | Investments in shares or corporations related to the Institution under the terms of Articles 73, 73 Bis and 73 Bis 1 of the Law, including the amount corresponding to investments in investment funds and investments indices pursuant to the provisions of fraction I item g) of Article 2 Bis 6 hereof. |
| F. | Investments made by development banking institutions in risk capital, pursuant to the provisions of fraction I item h) of Article 2 Bis 6 hereof. |
| G. | Investments in shares, other than fix capital, in listed investment funds wherein the Institutions holds more than 15 per cent of shareholder's equity of the aforementioned investment funds, pursuant to fraction I item i) of Article 2 Bis 6, that have not been considered in the preceding references. |
| H. | Any type of contribution which resources are destined to the purchase of shares in the financial group's holding company, of the other financial entities that comprise the group to which the Institution belongs or of the financial affiliates of the latter pursuant to the provisions of fraction I item l) of Article 2 Bis 6 hereof. |
| I. | Transactions that infringe the provisions, pursuant to the provisions of fraction I item m) of Article 2 Bis 6 hereof. |

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| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 74 |

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| | |
|:---|:---|
| J. | Differed charges and early payments, net of owed differed profit taxes, pursuant to the provisions of fraction I item n) of Article 2 Bis 6 hereof. |
| K. | Positions pertaining to the First Losses Scheme where the risk is preserved or credit protection is provided up to a certain limit of a position pursuant to fraction I item o) of Article 2 Bis 6. |
| L. | Worker's participation in credited differed profits pursuant to fraction I item p) of Article 2 Bis 6 hereof. |
| M. | The added amount of Transactions Subject to Credit Risk owed by Relevant Related Persons pursuant to fraction I item r) of Article 2 Bis 6 hereof. |
| N. | The difference between the investments made by the benefit pension funds defined pursuant to Article 2 Bis 8 minus reference 15. |
| O. | Adjustment for the acknowledgment of Net Capital . The amount shown corresponds to the amount registered in box C1 of the form included in section II hereof. |
| P. | The investments or contributions, directly or indirectly, in the corporation's capital or in the trust estate or other type of similar figures that have the purpose to set off and liquidate Transactions executed in the stock market, except for such corporation's or trust's share in the former pursuant to item f) fraction I of Article 2 Bis 6. |
| 27 | Does not apply. There are no regulatory adjustments for additional level 1 capital nor for ancillary capital. All regulatory adjustments are made from the level 1 common stock. |
| 28 | Sum of lines 7 through 22, plus lines 26 and 27. |
| 29 | Line 6 minus line 28. |
| 30 | The amount corresponding to titles representing the capital stock (including its share sale premium) that had not been considered in Fundamental Capital and Capital Instruments, that meet the conditions established in fraction II of Article 2 Bis 6 hereof. |
| 31 | Amount of line 30 qualified as capital under the applicable accounting standards. |
| 32 | Does not apply. Instruments directly issued that qualify as additional level 1 capital, plus its premium are registered for accounting purposes as capital. |
| 33 | Subordinated obligations computed as Non-Fundamental Capital, pursuant to the provisions of Article Third Transitory of Resolution 50th that amends the general provisions applicable to Credit Institutions, (Resolution 50th) |
| 34 | Does not apply. See note to reference 5. |
| 35 | Does not apply. See note to reference 5. |
| 36 | Sum of lines 30, 33 and 34. |
| 37\* | Does not apply. Deduction is made in aggregate level 1 common capital. |
| 38\* | Does not apply. Deduction is made in aggregate level 1 common capital. |
| 39\* | Does not apply. Deduction is made in aggregate level 1 common capital. |
| 40\* | Does not apply. Deduction is made in aggregate level 1 common capital. |
| 41 | National adjustments considered: |
|  | Adjustment for the acknowledgment of Net Capital. The amount shown corresponds to the amount registered in box C2 of the form included in section II hereof. |
| 42 | Does not apply. There are no regulatory adjustments for ancillary capital. All regulatory adjustments are made from the level 1 common stock. |
| 43 | Sum of lines 37 through 42. |
| 44 | Line 36, minus line 43. |
| 45 | Line 29, plus line 44. |
| 46 | The amount corresponding to titles representing the capital stock (including its share sale premium) that had not been considered in Capital Fundamental nor in Non-Fundamental Capital and Capital Instruments, that comply with Exhibit 1-S hereof pursuant to the provisions of Article 2 Bis 7 hereof. |
| 47 | Subordinated obligations computed as ancillary capital, pursuant to the provisions of Article Third Transitory, of Resolution 50th |
| 48 | Does not apply. See note to reference 5. |

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| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 75 |

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| | |
|:---|:---|
| 49 | Does not apply. See note to reference 5. |
| 50 | Preventive estimations for credit risk up to a sum of 1.25% of the assets weighed by credit risk corresponding to the Transactions that use the Standard Method to calculate the capital requirement per credit risk; and the positive difference of the Aggregate Admissible Reserves minus the Aggregate Expected Losses, up to an amount that does not exceed of 0.6 per cent of the assets weighed by credit risk, corresponding to the Transactions wherein the method based in internal qualifications to calculate the capital requirements by credit risk is used, pursuant to fraction III of Article 2 Bis 7. |
| 51 | Sun of lines 46 through 48, plus line 50. |
| 52\* | Does not apply. The deduction is made in aggregate of level 1 common stock. |
| 53\* | Does not apply. The deduction is made in aggregate of level 1 common stock. |
| 54\* | Does not apply. The deduction is made in aggregate of level 1 common stock. |
| 55\* | Does not apply. The deduction is made in aggregate of level 1 common stock. |
| 56 | National adjustments considered: |
| 56 | Adjustment for the acknowledgment of Net Capital. The amount shown corresponds to the amount registered in box C4 of the form included in section II hereof. |
| 57 | Sum of lines 52 through 56. |
| 58 | Line 51, minus line 57. |
| 59 | Line 45, plus line 58. |
| 60 | Total Risk Weighted Assets. |
| 61 | Line 29 divided by line 60 (expressed as percentages) |
| 62 | Line 45, divided by line 60 (expressed as percentages) |
| 63 | Line 59 divided by line 60 (expressed as percentages) |
| 64 | To report the percentages amount expressed on lines 61, 65, 66 and 67. |
| 65 | Report 2.5% |
| 66 | Percentage corresponding to the Countercyclical Capital buffer referred to on section c), subsection III, article 2 Bis 5 |
| 67 | The SCCS amount on line 64 (expressed as a percentage of the total risk weighted assets) which is related to the banking institutions' capital buffer for systemic character, in accordance with section b), subsection III, article 2 Bis 5. |
| 68 | Line 61 minus 7% |
| 69 | Does not apply. The minimum is the same as established by the Basel Committee on Banking Supervision in its document "Basel III: Global regulatory framework for the reinforcement of banks and banking systems" published in June 2011. |
| 70 | Does not apply. The minimum is the same as established by the Basel Committee on Banking Supervision in its document "Basel III: Global regulatory framework for the reinforcement of banks and banking systems" published in June 2011. |
| 71 | Does not apply. The minimum is the same as established by the Basel Committee on Banking Supervision in its document "Basel III: Global regulatory framework for the reinforcement of banks and banking systems" published in June 2011. |
| 72 | Does not apply. The concept was deducted from the aggregate capital. See note of reference 18. |
| 73 | Does not apply. The concept was deducted from the aggregate capital. See note of reference 19. |
| 74 | Does not apply. The concept was deducted from the aggregate capital. See note of reference 20. |
| 75 | The amount, that does not exceed 10% of the difference between reference 6 and the sum of references 7 through 20, of the credited differed taxes assets resulting from temporary differences minus those corresponding to owed profit taxes not considered to set off other adjustments. |
| 76 | Preventive estimations for credit risk corresponding to the Transactions that use the Standard Method to calculate the capital requirement per credit risk. |
| 77 | 1.25% of weighed assets per credit risk, corresponding to Transactions wherein the Standard Method to calculate the capital requirement by credit risk. |

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| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 76 |

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| | |
|:---|:---|
| 78 | Positive difference of the Aggregate Admissible Reserves minus the Aggregate Expected Losses corresponding to Transactions wherein the method based in internal qualifications to calculate the capital requirement by credit risk is used. |
| 79 | 0.6 per cent of the weighted assets by credit risk, corresponding to Transactions wherein the method based in internal qualifications to calculate the capital requirement by credit risk is used. |
| 80 | Does not apply. There are no instruments subject to transience that compute in level 1 common stock |
| 81 | Does not apply. There are no instruments subject to transience that compute in level 1 common stock |
| 82 | Balance of instruments computed as capital in the basic portion by December 31, 2012 for the corresponding balance limit therein. |
| 83 | Balance of instruments computed as capital in the basic portion by December 31, 2012 minus line 33. |
| 84 | Balance of instruments computed as capital in the complementary portion by December 31, 2012 for the corresponding balance limit therein. |
| 85 | Balance of instruments computed as capital in the basic portion by December 31, 2012 minus line 47. |

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Note: \* The aforementioned approach is more conservative than the one established by the Basel Committee on Banking Supervision in its document "Basel III: Global regulatory framework for the reinforcement of banks and banking systems" published in June 2011.

**Table II.1**

**Balance sheet figures**

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| | | |
|:---|:---|:---|
| **Reference of the balance sheet items** | **Balance sheet items** | **Amount shown in the balance sheet** |
| | **Assets** | **1843567** |
| BG1 | Funds Available | 93353 |
| BG2 | Margin accounts | 3826 |
| BG3 | Investment in securities | 470804 |
| BG4 | Debtors under sale and repurchase agreements | 121859 |
| BG5 | Securities loans) | 0 |
| BG6 | Derivatives | 238644 |
| BG7 | Valuation adjustment for hedged financial assets | (27) |
| BG8 | Total loan portfolio | 756121 |
| BG9 | Benefits to be received in securitization transactions | 0 |
| BG10 | Other receivables (net) | 62847 |
| BG11 | Foreclosed assets (net | 960 |
| BG12 | Property, furniture and fixtures (net) | 18789 |
| BG13 | Long-term investment in shares | 42467 |
| BG14 | Non current assets held for sale | 1586 |
| BG15 | Deferred income taxes (net) | 18767 |
| BG16 | Other assets (net) | 13571 |
|  | **Liabilities** | **1677584** |
| BG17 | Deposits | 912040 |
| BG18 | Bank and other loans | 30806 |
| BG19 | Creditors under sale and repurchase agreements | 211878 |
| BG20 | Securities loans | 1 |
| BG21 | Collateral sold or pledged as guarantee | 116104 |
| BG22 | Derivatives | 235456 |
| BG23 | Valuation adjustment for hedged financial liabilities | (14) |
| BG24 | Creditors from settlement of transactions | 0 |
| BG25 | Other payables, deferred revenues and other advances | 120586 |
| BG26 | Subordinated debentures outstanding | 39384 |
| BG27 | Deferred income taxes (net) | 11296 |
| BG28 | Deferred revenues and other advances | 49 |
|  | **Shareholders' Equity** | **165983** |
| BG29 | Paid-in capital | 34702 |
| BG30 | Other capital | 131281 |
|  | **Memorandum accounts** | **4213414** |

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| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 77 |

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| | | |
|:---|:---|:---|
| BG31 | Guarantees granted | 0 |
| BG32 | Contingent assets and liabilities | 133 |
| BG33 | Credit commitments | 169613 |
| BG34 | Assets in trust or mandate | 193297 |
| BG35 | Federal Government financial agent |  |
| BG36 | Assets in custody or under administration | 1751075 |
| BG37 | Collateral received by the entity | 154833 |
| BG38 | Collateral received and sold or pledged as guarantee | 93143 |
| BG39 | Investment bank operations on behalf of third parties | 0 |
| BG40 | Uncollected interest earned on past due loan portfolio | 684 |
| BG41 | Other accounts | 1850636 |

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**Table II.2**

**Regulatory concepts considered in the calculation of Net Capital components**

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| | | | | |
|:---|:---|:---|:---|:---|
| **Identifier** | **Regulatory concepts considered for the calculation of Net Capital components** | **Reference of the format for the disclosure of capital integration of section I hereof** | **Amount pursuant to the notes of the table Regulatory concepts considered for the calculation of Net Capital components** | **Reference(s) of balance sheet item and amount related with the regulatory concept considered for the calculation of Net Capital derived from the aforementioned reference** |
| | **Asset** | | | |
| 1 | Goodwill | 8 | 2404 | BG16= 13,571 Minus: deferred charges and advance payments 2,619; intangibles 8,694; advance payments that are computed as risk assets 904; plus other assets are computed as risk assets 1,050 |
| 2 | Intangible assets | 9 | 8694 | BG16= 13,571 Minus: deferred charges and advance payments 2,619; intangibles 2,404; advance payments that are computed as risk assets 904; plus other assets that are computed as risk assets 1,050 |
| 3 | Deferred income tax from tax losses carryforward and tax credits | 10 | 0 |  |
| 4 | Benefits to be received in securitization transactions | 13 | 0 | BG9= |
| 5 | Defined benefit pension plan assets with no restriction and unlimited access | 15 | 0 |  |
| 6 | Investment in own-equity securities | 16 | 0 | BG3= 470,804 Minus: Reciprocal investments in common capital of financial entities 18; Investments in securities computed as risk assets 470,786 |

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| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 78 |

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| | | | | |
|:---|:---|:---|:---|:---|
| 7 | Reciprocal investments in common capital | 17 | 0 |  |
| 8 | Direct investments in the capital of financial entities wherein the institution does not hold more than 10% of the issued capital stock | 18 | 0 |  |
| 9 | Indirect investment in capital of financial entities wherein the institution does not hold more than 10% of the issued capital stock | 18 | 18 | BG3= 470,804 Minus: Investment in own-equity securities 0; Investments in securities computed as risk assets 470,786 |
| 10 | Direct investments in the capital of financial entities wherein the institution holds more than 10% of the issued capital stock | 19 | 0 |  |
| 11 | Indirect investment in capital of financial entities wherein the institution holds more than 10% of the issued capital stock | 19 | 0 |  |
| 12 | Deferred income tax from temporary differences | 21 | 4589 | BG15= 21,227 Minus: Amount computed as risk asset 16,638 |
| 13 | Reserves recognized as complementary capital | 50 | 1100 | BG8= Total loan portfolio 756,121 |
| 14 | Investments in subordinated debt | 26 - B | 0 |  |
| 15 | Investments in multilateral entities | 26 - D | 0 | BG13= 42,647 Minus: Investments in subsidiaries 38,079; Investments in clearing houses 492; Investments in associated companies 110; Other investments that are computed as risk assets 3,785 |
| 16 | Investments in associated companies | 26 - E | 38079 | BG13= 42,467 Minus: Investments in clearing houses 492; Investments in associated companies 110; Other investments that are computed as risk assets 3,785 |
| 17 | Investments in risk capital | 26 - F | 0 |  |
| 18 | Investments in investment corporations | 26 - G | 0 |  |
| 19 | Financing for repurchase of own shares | 26 - H | 0 |  |
| 20 | Deferred charges and advance payments | 26 - J | 2619 | BG16= 13,571 Minus: intangible assets 11,098; others assets that are computed as risk assets 904; plus other assets are computed as risk assets 1,050 |
| 21 | Deferred employee profit sharing (net) | 26 - L | 0 |  |
| 22 | Defined benefit pension plan assets | 26 - N | 0 |  |

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| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 79 |

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| | | | | |
|:---|:---|:---|:---|:---|
| 23 | Investments in clearing houses | 26 - P | 492 | BG13= 42,467 Minus: Investments in subsidiaries 38,079; Investments in associated companies 110; other investments that are computed as risk assets 3,785 |
|  | **Liabilities** |  |  |  |
| 24 | Deferred income tax related to goodwill | 8 | 0 |  |
| 25 | Deferred income tax related to other intangible assets | 9 | 0 |  |
| 26 | Provision for defined benefit pension plan with no restriction and unlimited access | 15 | 0 |  |
| 27 | Deferred income tax related to defined benefit pension plan | 15 | 0 |  |
| 28 | Deferred income tax related to other items | 21 | 0 |  |
| 29 | Subordinated liabilities that meets with Exhibit 1-R | 31 | 0 |  |
| 30 | Subordinated liabilities subject to transitoriness that compute as basic capital 2 | 33 | 0 |  |
| 31 | Subordinated liabilities that meets with Exhibit 1-S | 46 | 0 |  |
| 32 | Subordinated obligations subject to transitoriness that compute as complementary capital | 47 | 0 |  |
| 33 | Deferred income tax related to deferred charges and advance payments | 26 - J | 0 |  |
|  | **Shareholders' Equity** |  |  |  |
| 34 | Paid-in capital that meets with Exhibit 1-Q | 1 | 34702 | BG29 |
| 35 | Retained earnings | 2 | 85724 | BG30= 131,281 Minus: other items of earned capital 45,547, cumulative effect of conversion 9 |
| 36 | Result from valuation of cash flow hedge instruments | 3 | 0 |  |
| 37 | Other items of earned capital | 3 | 45547 | BG30= 131,281 Minus: Retained earnings 85,724 cumulative effect of conversion 9 |
| 38 | Paid-in capital that meets with Exhibit 1-R | 31 | 13656 | BG26= 39,384 More: Subordinated debt instruments non-convertible 25,727 |
| 39 | Paid-in capital that meets with Exhibit 1-S | 46 | 25727 | BG26= 39,384 More: Subordinated debt instruments convertible 13,656 |

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| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 80 |

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---

| | | | |
|:---|:---|:---|:---|
| 40 | Result from valuation of cash flow hedge instruments | 03, 11 | 0 |
| 41 | Cumulative effect from conversion | 3, 26 - A | 0 |
| 42 | Result from ownership of non-monetary assets | 3, 26 - A | 0 |
|  | **Accounts in order** |  |  |
| 43 | Positions in First Losses Schemes | 26 - K | 0 |
|  | **Regulatory concepts not considered in the balance sheet** |  |  |
| 44 | Reserves pending constitution | 12 | 0 |
| 45 | Profit or increase of the value of assets from the purchase of securitization positions (Originating Institutions) | 26 - C | 0 |
| 46 | Transactions that breach the provisions | 26 - I | 0 |
| 47 | Transactions with Relevant Related Persons | 26 - M | 0 |
| 48 | Repealed |  | 0 |

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**Table II.3**

**Notes to table III.2 "Regulatory concepts considered for the calculation of Net Capital components"**

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| | |
|:---|:---|
| **Identifier** | **Description** |
| 1 | Commercial credit. |
| 2 | Intangibles, without including commercial credit. |
| 3 | Credited differed profit taxes originating from fiscal losses and credits. |
| 4 | Benefits regarding the remnant of securitization transactions. |
| 5 | Investments of pension plan for defined benefits without unrestrictive and unlimited access. |
| 6 | Any share that the Institution acquires pursuant to the provisions of the Law, that have not been subtracted; considering those amounts acquired through investments in securities indexes and the amount corresponding to investments in investment funds other than those provided by reference 18. |
| 7 | Investments in shares in corporations other than financial entities referred to by item f) of fraction I of Article 2 Bis 6 hereof, that are in turn, directly or indirectly shareholders of the Institution itself, of the financial group's holding company, of the remaining financial entities that comprise the group to which the Institution belongs or financial affiliates of the latter, considering those investments corresponding to investment funds other than those provided by reference 18. |
| 8 | Direct investments in financial entities capital referred to by Article 89 of the Law and 12 and 8 of the Law Regulating Financial Groups, where the Institution owns more than 10% of the capital thereof. |
| 9 | Direct investments in financial entities capital referred to by Article 89 of the Law and 12 and 8 of the Law Regulating Financial Groups, where the Institution owns more than 10% of the capital thereof. |
| 10 | Direct investments in financial entities capital referred to by Article 89 of the Law and 12 and 8 of the Law Regulating Financial Groups, where the Institution owns more than 10% of the capital thereof. |
| 11 | Indirect investments in financial entities capital referred to by Article 89 of the Law and 12 and 8 of the Law Regulating Financial Groups, where the Institution owns more than 10% of the capital thereof. |
| 12 | Credited differed profit taxes originating from temporary differences. |
| 13 | Preventive estimates for credit risk up to a sum of 1.25% of the weighted assets by credit risk, corresponding to Transactions wherein the Standard Method is used to calculate the capital requirement by credit risk; and the positive difference of the Aggregate Admissible Reserves minus the Aggregate the Expected Losses, up to an amount that does not exceed of 0.6 per cent of the weighted assets by credit risk, corresponding to Transactions where the method based in internal qualifications is used to calculate the capital requirement by credit risk. |
| 14 | Investments in subordinated debt instruments, pursuant to the provisions of fraction I item b) of Article 2 Bis 6 hereof. |
| 15 | Investments in development or promotion multilateral organizations of an international nature pursuant to the provisions of fraction I item f) of Article 2 Bis 6 hereof that have a credit Qualification assigned by any of the issuer's Qualifying Institutions, equal or greater than long term Risk Degree 2. |

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| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 81 |

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| | |
|:---|:---|
| 16 | Investments in shares of corporations related with the Institution under the terms of Articles 73, 73 Bis and 73 Bis 1 of the Law, including the amount corresponding to investments in investment corporations and investments in indices pursuant to the provisions of fraction I item g) of Article 2 Bis 6 hereof. |
| 17 | Investments made in development banking institutions in risk capital, pursuant to the provisions of fraction I item h) of Article 2 Bis 6 hereof. |
| 18 | Investments in shares, other than fix capital, of listed investment corporations, wherein the Institution holds more than 15 per cent of shareholders' equity of the aforementioned investment corporation, pursuant to fraction I item i) of Article 2 Bis 6, that have not been considered in the previous references. |
| 19 | Any type of contributions which resources are destined to the purchase of shares of the financial group's holding company, of the other financial entities that comprise the group to which the Institution belongs or the latter's financial affiliates, pursuant to the provisions of fraction I item l) of Article 2 Bis 6 hereof. |
| 20 | Differed charges and early payments. |
| 21 | Workers' share in credited differed profits pursuant to fraction I item p) of Article 2 Bis 6 hereof. |
| 22 | Investments of the pension plan for benefits defined that have to be deducted according with Article 2 Bis 8 hereof. |
| 23 | Investments or contributions, directly or indirectly, in the corporation's capital or in trust estate or other type of similar figures that have the purpose of setting off and liquidating Transactions executed in the stock market, unless the share in such corporations or trusts in the former pursuant to item f) fraction I of Article 2 Bis 6. |
| 24 | Owed differed taxes to profit originating from temporary differences related to commercial credit. |
| 25 | Owed differed taxes to profit originated from temporary differences related to other intangibles (other than commercial credit). |
| 26 | Liabilities of the pension plan for benefits defined related to investments of the pension plan for defined benefits. |
| 27 | Owed differed taxes originated from temporary differences related to the pension plan for defined benefits. |
| 28 | Owed differed profit taxes originated from temporary differences other than those of references 24, 25, 27 and 33 |
| 29 | Amount of subordinated obligations that meet with Exhibit 1-R hereof. |
| 30 | Amount of subordinated obligations subject to transience that are computed as Non-Fundamental Capital. |
| 31 | Amount of subordinated obligations that meet with Exhibit 1-S hereof. |
| 32 | Amount of subordinated obligations subject to transience that compute as ancillary capital. |
| 33 | Owed differed profit taxes originated from temporary differences related to differed charges and early payments. |
| 34 | Amount of capital contributed that meets the provisions of Exhibit 1-Q hereof. |
| 35 | Result of the previous fiscal years. |
| 36 | Result for the assessment of cash flow hedging instruments from covered entries assessed at reasonable value. |
| 37 | Net result and result for the assessment of titles available for sale. |
| 38 | Amount of capital contributed that meets the provisions of Exhibit 1-R hereof. |
| 39 | Amount of capital contributed that meets the provisions of Exhibit 1-S hereof. |
| 40 | Result for the assessment of cash flow hedging instruments from covered entries assessed at capitalized cost. |
| 41 | Accrued effect by conversion. |
| 42 | Result for ownership of non-monetary assets. |
| 43 | Positions related with the First Losses Scheme wherein risk is preserved or credit protection provided until certain limit of a position pursuant to fraction I item o) of Article 2 Bis 6. |
| 44 | Reserves pending constitution pursuant to the provisions of fraction I item k) of Article 2 Bis 6 hereof. |
| 45 | The amount resulting if on account of the purchase of securitization positions, the originating Institutions register a profit or an increase in the value of their assets with respect to assets previously registered in its balance, pursuant to the provisions of fraction I item c) of Article 2 Bis 6 hereof. |
| 46 | Transactions that infringe the provisions, pursuant to the provisions of fraction I item m) of Article 2 Bis 6 hereof. |
| 47 | The aggregate amount of Transactions Subject to Credit Risk owed by Relevant Related Persons pursuant to fraction I item r) of Article 2 Bis 6 hereof. |

---

**Table III.1**

**Positions exposed to market risks per risk factor**

---

| | | |
|:---|:---|:---|
| **Concept** | **Amount of equivalent positions** | **Capital Requirement** |
| Transactions in national currency with nominal rate | 109258 | 8741 |
| Transactions with debt instruments in national currency with surtax and reviewable rate | 5693 | 455 |
| Transactions in national currency with real rate or denominated in UDIs | 11395 | 912 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 82 |

---

---

| | | |
|:---|:---|:---|
| Transactions in national currency with yield rate referred to the increase of the General Minimum Wage | 2227 | 178 |
| Positions in UDIs or with yield referred to INPC | 88 | 7 |
| Positions in national currency with yield rate referred to the increase of the General Minimum Wage | 86 | 7 |
| Transactions in foreign currency with nominal rate | 45491 | 3639 |
| Positions in foreign currency or with yield indexed to the exchange rate | 6484 | 519 |
| Positions in shares or with yield indexed to the price of one share or set of shares | 6088 | 487 |
| Positions in commodities | 1 | 0 |
| Impact Capital requirement for Gamma and Vega | 1 | 0 |

---

**Table III.2**

**Assets weighted subject to credit risk by risk group**

---

| | | |
|:---|:---|:---|
| Concept | Capital Requirement | Capital Requirement |
| Group I-A (weighted at 0%) | 0 | 0 |
| Group I-A (weighted at 10%) | 0 | 0 |
| Group I-A (weighted at 20%) | 0 | 0 |
| Group I-B (weighted at 2%) | 238 | 19 |
| Group I-B (weighted at 4.0%) | 0 | 0 |
| Group II (weighted at 0%) | 0 | 0 |
| Group II (weighted at 20%) | 0 | 0 |
| Group II (weighted at 50%) | 0 | 0 |
| Group II (weighted at 100%) | 32717 | 2617 |
| Group II (weighted at 120%) | 0 | 0 |
| Group II (weighted at 150%) | 0 | 0 |
| Group III (weighted at 2.5%) | 0 | 0 |
| Group III (weighted at 10%) | 0 | 0 |
| Group III (weighted at 11.5%) | 0 | 0 |
| Group III (weighted at 20%) | 26728 | 2138 |
| Group III (weighted at 23%) | 233 | 19 |
| Group III (weighted at 25%) | 0 | 0 |
| Group III (weighted at 28.75%) | 0 | 0 |
| Group III (weighted at 50%) | 1 | 0 |
| Group III (weighted at 57.5%) | 0 | 0 |
| Group III (weighted at 60%) | 0 | 0 |
| Group III (weighted at 75%) | 0 | 0 |
| Group III (weighted at 100%) | 17986 | 1439 |
| Group III (weighted at 115%) | 0 | 0 |
| Group III (weighted at 120%) | 0 | 0 |
| Group III (weighted at 138%) | 0 | 0 |
| Group III (weighted at 150%) | 0 | 0 |
| Group III (weighted at 172.5%) | 0 | 0 |
| Group IV (weighted at 0%) | 0 | 0 |
| Group IV (weighted at 20%) | 6192 | 495 |
| Group V (weighted at 10%) | 0 | 0 |
| Group V (weighted at 20%) | 9699 | 776 |
| Group V (weighted at 50%) | 0 | 0 |
| Group V (weighted at 115%) | 0 | 0 |
| Group V (weighted at 150%) | 0 | 0 |
| Group VI (weighted at 20%) | 2291 | 183 |
| Group VI (weighted at 25%) | 1789 | 143 |
| Group VI (weighted at 30%) | 7870 | 630 |
| Group VI (weighted at 40%) | 4390 | 351 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 83 |

---

---

| | | |
|:---|:---|:---|
| Group VI (weighted at 50%) | 51206 | 4097 |
| Group VI (weighted at 75%) | 40774 | 3262 |
| Group VI (weighted at 100%) | 31711 | 2537 |
| Group VI (weighted at 120%) | 0 | 0 |
| Group VI (weighted at 150%) | 0 | 0 |
| Group VI (weighted at 172.5%) | 0 | 0 |
| Group VII-A (weighted at 10%) | 0 | 0 |
| Group VII-A (weighted at 11.5%) | 0 | 0 |
| Group VII-A (weighted at 20%) | 2329 | 186 |
| Group VII-A (weighted at 23%) | 0 | 0 |
| Group VII-A (weighted at 50%) | 18 | 1 |
| Group VII-A (weighted at 57.5%) | 0 | 0 |
| Group VII-A (weighted at 75%) | 10866 | 869 |
| Group VII-A (weighted at 85%) | 562 | 45 |
| Group VII-A (weighted at 100%) | 101262 | 8101 |
| Group VII-A (weighted at 115%) | 0 | 0 |
| Group VII-A (weighted at 120%) | 0 | 0 |
| Group VII-A (weighted at 138%) | 0 | 0 |
| Group VII-A (weighted at 150%) | 0 | 0 |
| Group VII-A (weighted at 172.5%) | 0 | 0 |
| Group VII-B (weighted at 0%) | 0 | 0 |
| Group VII-B (weighted at 20%) | 921 | 74 |
| Group VII-B (weighted at 23%) | 0 | 0 |
| Group VII-B weighted at 50%) | 0 | 0 |
| Group VII-B weighted at 57.5%) | 10176 | 814 |
| Group VII-B (weighted at 100%) | 36994 | 2960 |
| Group VII-B (weighted at 115%) | 0 | 0 |
| Group VII-B (weighted at 120%) | 0 | 0 |
| Group VII-B (weighted at 138%) | 0 | 0 |
| Group VII-B (weighted at 150%) | 0 | 0 |
| Group VII-B (weighted at 172.5%) | 0 | 0 |
| Group VIII (weighted at 115%) | 4010 | 321 |
| Group VIII (weighted at 150%) | 1231 | 98 |
| Group IX (weighted at 100%) | 18118 | 1449 |
| Group IX (weighted at 115%) | 0 | 0 |
| Group IX (weighted at 150%) | 0 | 0 |
| Group X (weighted at 1250%) | 1241 | 99 |
| Other Assets (weighted at 0%) | 0 | 0 |
| Other Assets (weighted at 100%) | 29164 | 2333 |
| Credit Valuation Adjustment on Derivative Operations | 21560 | 1725 |
| Re-securitization with Risk Degree 1 (weighted at 20%) | 4261 | 341 |
| Re-securitization with Risk Degree 2 (weighted at 50%) | 0 | 0 |
| Re-securitization with Risk Degree 3 (weighted at 100%) | 0 | 0 |
| Re-securitization with Risk Degree 4 (weighted at 350%) | 0 | 0 |
| Re-securitization with Risk Degree 4, o 5 or Not qualified (weighted at 1250%) | 0 | 0 |
| ReRe-securitization with Risk Degree 1 (weighted at 40%) | 0 | 0 |
| ReRe-securitization with Risk Degree 1 (weighted at 100%) | 0 | 0 |
| ReRe-securitization with Risk Degree 1 (weighted at 225%) | 0 | 0 |
| ReRe-securitization with Risk Degree 1 (weighted at 650%) | 0 | 0 |
| ReRe-securitization with Risk Degree 4, 5 or Not qualified (weighted at 1250%) | 0 | 0 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 84 |

---

**Table III.3**

**Operational Risk weighted Assets** 

---

| | | |
|:---|:---|:---|
| **Method** | **Risk weighted Assets** | **Capital Requirement** |
| STANDARD ALTERNATIVE METHOD | 78727 | 6298 |
| **Average of requirement by market and credit risk of the last 36 months** | **Average of requirement by market and credit risk of the last 36 months** | **Average of annual positive net income of the last 36 months** |
| 0 | 0 | 70056 |

---

**Table IV.1**

**Main characteristics of titles that are part of the Net Capital**

---

| | | |
|:---|:---|:---|
| **Reference** | **Characteristic** | **Options** |
| 1 | Issuer | Banco Santander (Mexico), S. A. |
| 2 | ISIN, CUSIP or Bloomberg Identifier | MX41BS060013 |
| 3 | Legal frame | Securities Market Law |
|  | **Regulation treatment** |  |
| 4 | Level of capital with transitory | N.A |
| 5 | Level of capital without transitory | Fundamental Capital |
| 6 | Instrument level | Credit Institution without consolidating |
| 7 | Instrument type | Series F Shares |
| 8 | Amount acknowledge of regulatory capital | Ps.15,210,402,155.77 |
| 9 | Instrument's par value | Ps.3.78 |
| 9A | Instrument's currency | Mexican Pesos |
| 10 | Accounting qualification | Capital |
| 11 | Date of issuance | N.A |
| 12 | Instrument´s term | Perpetual |
| 13 | Date of expiration | Without expiration |
| 14 | Early payment clause | No |
| 15 | First date of early payment | N.A |
| 15A | Regulatory or fiscal events | No |
| 15B | Liquidation price of the early payment clause | N.A |
| 16 | Subsequent early payment dates | N.A |
|  | **Yields / Dividends** |  |
| 17 | Type of yield/dividend | Variable |
| 18 | Interest rate/dividend | Variable |
| 19 | Cancellation of dividends clause | No |
| 20 | Payment discretion | Mandatory |
| 21 | Interest increase clause | No |
| 22 | Yields/Dividends | Not Accruable |
| 23 | Convertibility of the instrument | N.A |
| 24 | Convertibility conditions | N.A |
| 25 | Degree of convertibility | N.A |
| 26 | Conversion rate | N.A |
| 27 | Instrument convertibility rate | N.A |
| 28 | Type of convertibility financial instrument | N.A |
| 29 | Instrument issuer | N.A |
| 30 | Write-down clause | No |
| 31 | Conditions for write-down | N.A |
| 32 | Degree of write-down | N.A |
| 33 | Temporality of write-down | N.A |
| 34 | Mechanism for temporary write down | N.A |
| 35 | Subordination position in the event of liquidation | Creditors in general |
| 36 | Breach characteristics | No |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 85 |

---

<u>37</u> <u>Description of breach characteristics</u> <u>N.A</u>

**Table IV.1.2**

 **Main characteristics of titles that are part of the Net Capital**

---

| | | |
|:---|:---|:---|
| **Reference** | **Characteristic** | **Options** |
| 1 | Issuer | Banco Santander (Mexico), S. A. |
| 2 | ISIN, CUSIP or Bloomberg Identifier | MX41BS060005 |
| 3 | Legal frame | Securities Market Law |
|  | **Regulation treatment** |  |
| 4 | Level of capital with transitory | N.A |
| 5 | Level of capital without transitory | Fundamental Capital |
| 6 | Instrument level | Credit Institution without consolidating |
| 7 | Instrument type | Series B Shares |
| 8 | Amount acknowledge of regulatory capital | Ps.14,588,587,852.93 |
| 9 | Instrument's par value | Ps.3.78 |
| 9A | Instrument's currency | Mexican Pesos |
| 10 | Accounting qualification | Capital |
| 11 | Date of issuance | N.A |
| 12 | Instrument´s term | Perpetual |
| 13 | Date of expiration | Without expiration |
| 14 | Early payment clause | No |
| 15 | First date of early payment | N.A |
| 15A | Regulatory or fiscal events | No |
| 15B | Liquidation price of the early payment clause | N.A |
| 16 | Subsequent early payment dates | N.A |
|  | **Yields / Dividends** |  |
| 17 | Type of yield/dividend | Variable |
| 18 | Interest rate/dividend | Variable |
| 19 | Cancellation of dividends clause | No |
| 20 | Payment discretion | Mandatory |
| 21 | Interest increase clause | No |
| 22 | Yields/Dividends | Not Accruable |
| 23 | Convertibility of the instrument | N.A |
| 24 | Convertibility conditions | N.A |
| 25 | Degree of convertibility | N.A |
| 26 | Conversion rate | N.A |
| 27 | Instrument convertibility rate | N.A |
| 28 | Type of convertibility financial instrument | N.A |
| 29 | Instrument issuer | N.A |
| 30 | Write-down clause | No |
| 31 | Conditions for write-down | N.A |
| 32 | Degree of write-down | N.A |
| 33 | Temporality of write-down | N.A |
| 34 | Mechanism for temporary write down | N.A |
| 35 | Subordination position in the event of liquidation | Creditors in general |
| 36 | Breach characteristics | No |
| 37 | Description of breach characteristics | N.A |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 86 |

---

**Table IV.1.3**

**Main characteristics of titles that are part of the Net Capital**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Reference** | **Item** | **Characteristics** | **Characteristics** | **Characteristics** |
| 1 | Issuer | Banco Santander México, S. A., Institución de Banca Múltiple, Grupo Financiero Santander México. | Banco Santander México, S. A., Institución de Banca Múltiple, Grupo Financiero Santander México. | Banco Santander México, S. A., Institución de Banca Múltiple, Grupo Financiero Santander México. |
| 2 | ISIN, CUSIP or Bloomberg Identifier |  | **ISIN** | **CUSIP** |
| 2 | ISIN, CUSIP or Bloomberg Identifier | **144A** | US05969BAC72 | 05969BAC7 |
| 2 | ISIN, CUSIP or Bloomberg Identifier | **Reg S** | USP1507SAG23 | P1507SAG2 |
| 3 | Governing Law | The Indenture and the Notes will be governed by, and construed in accordance with, the law of the State of New York. All additional dispositions related to the determination of Suspension Periods, a Trigger Event (leading to a Writedown), Interest Payment cancellation, Optional Redemption or, the ranking and subordination of the Notes, will be governed by, and construed in accordance with, Mexican Law, as established in the Indenture and the Notes. | The Indenture and the Notes will be governed by, and construed in accordance with, the law of the State of New York. All additional dispositions related to the determination of Suspension Periods, a Trigger Event (leading to a Writedown), Interest Payment cancellation, Optional Redemption or, the ranking and subordination of the Notes, will be governed by, and construed in accordance with, Mexican Law, as established in the Indenture and the Notes. | The Indenture and the Notes will be governed by, and construed in accordance with, the law of the State of New York. All additional dispositions related to the determination of Suspension Periods, a Trigger Event (leading to a Writedown), Interest Payment cancellation, Optional Redemption or, the ranking and subordination of the Notes, will be governed by, and construed in accordance with, Mexican Law, as established in the Indenture and the Notes. |
|  | **Regulatory Treatment** |  |  |  |
| 4 | Capital category the Note qualifies as, based on Article 3, Transitory, Resolution 50th | N.A. | N.A. | N.A. |
| 5 | Capital category the Note qualifies as, based on Annexes 1-Q, 1-R and 1-S | "Tier 2" or Supplementary Capital (*Capital Complementario*). | "Tier 2" or Supplementary Capital (*Capital Complementario*). | "Tier 2" or Supplementary Capital (*Capital Complementario*). |
| 6 | Instrument seniority within the Group | Subordinated Debt issued by our Credit Institution. | Subordinated Debt issued by our Credit Institution. | Subordinated Debt issued by our Credit Institution. |
| 7 | Type of Instrument | Tier 2 Subordinated Preferred Capital Notes. | Tier 2 Subordinated Preferred Capital Notes. | Tier 2 Subordinated Preferred Capital Notes. |
| 8 | Amount acknowledged as regulatory capital | $25145225839.39 | $25145225839.39 | $25145225839.39 |
| 9 | Instrument's Face Value | $25,312,950,000 (USD $1,300,000,000.00) | $25,312,950,000 (USD $1,300,000,000.00) | $25,312,950,000 (USD $1,300,000,000.00) |
| 9A | Currency | USD. | USD. | USD. |
| 10 | Accounting Classification | Subordinated Debt. | Subordinated Debt. | Subordinated Debt. |
| 11 | Issuance Date | October 1, 2018. | October 1, 2018. | October 1, 2018. |
| 12 | Type of Expiration | Expiration Date. | Expiration Date. | Expiration Date. |
| 13 | Expiration Date | October 1, 2028. | October 1, 2028. | October 1, 2028. |
| 14 | Optional Redemption | Subject to certain conditions, the Issuer may redeem the Notes at par plus accrued and unpaid interest due on, or with respect to, the Capital Notes, plus Additional Amounts, if any, (i) in whole or in part, only on the Optional Redemption Date or (ii) in whole, but not in part, at any date by means of the existence a Withholding Tax Redemption event or a Special Redemption event. | Subject to certain conditions, the Issuer may redeem the Notes at par plus accrued and unpaid interest due on, or with respect to, the Capital Notes, plus Additional Amounts, if any, (i) in whole or in part, only on the Optional Redemption Date or (ii) in whole, but not in part, at any date by means of the existence a Withholding Tax Redemption event or a Special Redemption event. | Subject to certain conditions, the Issuer may redeem the Notes at par plus accrued and unpaid interest due on, or with respect to, the Capital Notes, plus Additional Amounts, if any, (i) in whole or in part, only on the Optional Redemption Date or (ii) in whole, but not in part, at any date by means of the existence a Withholding Tax Redemption event or a Special Redemption event. |
| 15 | Optional Redemption Date | October 1, 2023. | October 1, 2023. | October 1, 2023. |
| 15A | Does the early redemption clause contemplates Regulatory or Fiscal Events? | Yes.<br>*Withholding Tax Redemption*: The Issuer may redeem the Capital Notes at par plus accrued and unpaid interest due on, or with respect to the Capital Notes, plus Additional Amounts, if any, in whole but not in part, prior to the Maturity Date as a result of certain changes in tax law affecting the Notes and resulting in a higher withholding tax applicable to interest payments under the Notes, subject to the satisfaction of certain conditions.<br>*Special Event Redemption*: The Issuer may redeem the Notes at par plus accrued and unpaid interest due on, or with respect to, the Capital Notes, plus Additional Amounts, if any, in whole but not in part, upon the occurrence of a Special Event (which event happens upon the occurrence of certain changes in capital treatment or tax deductibility of payments under the Notes and the satisfaction of certain conditions). | Yes.<br>*Withholding Tax Redemption*: The Issuer may redeem the Capital Notes at par plus accrued and unpaid interest due on, or with respect to the Capital Notes, plus Additional Amounts, if any, in whole but not in part, prior to the Maturity Date as a result of certain changes in tax law affecting the Notes and resulting in a higher withholding tax applicable to interest payments under the Notes, subject to the satisfaction of certain conditions.<br>*Special Event Redemption*: The Issuer may redeem the Notes at par plus accrued and unpaid interest due on, or with respect to, the Capital Notes, plus Additional Amounts, if any, in whole but not in part, upon the occurrence of a Special Event (which event happens upon the occurrence of certain changes in capital treatment or tax deductibility of payments under the Notes and the satisfaction of certain conditions). | Yes.<br>*Withholding Tax Redemption*: The Issuer may redeem the Capital Notes at par plus accrued and unpaid interest due on, or with respect to the Capital Notes, plus Additional Amounts, if any, in whole but not in part, prior to the Maturity Date as a result of certain changes in tax law affecting the Notes and resulting in a higher withholding tax applicable to interest payments under the Notes, subject to the satisfaction of certain conditions.<br>*Special Event Redemption*: The Issuer may redeem the Notes at par plus accrued and unpaid interest due on, or with respect to, the Capital Notes, plus Additional Amounts, if any, in whole but not in part, upon the occurrence of a Special Event (which event happens upon the occurrence of certain changes in capital treatment or tax deductibility of payments under the Notes and the satisfaction of certain conditions). |
| 15B | Liquidation price for an early redemption | Upon an early redemption, the Notes would be repaid at par plus accrued and unpaid interest due on, or with respect to, the Notes, plus Additional Amounts, if any. | Upon an early redemption, the Notes would be repaid at par plus accrued and unpaid interest due on, or with respect to, the Notes, plus Additional Amounts, if any. | Upon an early redemption, the Notes would be repaid at par plus accrued and unpaid interest due on, or with respect to, the Notes, plus Additional Amounts, if any. |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 87 |

---

---

| | | |
|:---|:---|:---|
| 16 | Subsequent early redemption dates | None, except for early redemptions caused by a Withholding Tax Redemption event or a Special Redemption event, which can be made at any date before Maturity Date. |
|  | **Yields / Dividends** |  |
| 17 | Type of Interest Rate | Fixed Rate with only one reset date at the Optional Redemption Date. |
| 18 | Interest Rate | 5.95%. |
| 19 | Dividend Stopper Clause: | Subject to certain exceptions, the Issuer will not be allowed to make certain distributions during a Suspension Period, including (i) dividends or distributions on capital stock, (ii) make any payment of the Issuer's debt securities that rank *pari passu* with or junior in right of payment and in liquidation to the Notes; or (iii) make any guaranty payments with respect to any guaranty of the debt securities of its subsidiaries if such guaranty ranks *pari passu* with or junior in right of payment and in liquidation to the Notes. |
| 20 | Are Interest Payments discretionary? | Interest Payments are Mandatory. |
| 21 | Interest increase / Step-Up clause | No. |
| 22 | Are coupon payments cumulative? | Cumulative.<br>The Issuer will have the right to and will defer, but not cancel (except pursuant to a Write-Down), payment of interest and principal due on the Notes, if the CNBV institutes certain corrective measures against the Issuer if the Issuer is classified as Class III (or equivalent classification under any successor provisions) or below under the Mexican Capitalization Requirements. Payments of interest due on the Notes will be cumulative. Subject to the occurrence of one or more Write-Downs, a Suspension Period shall terminate and the payment of interest due on the Notes and payment of principal thereof will resume when the related Mexican Regulatory Event has terminated.<br>|
| 23 | Convertibility of the instrument | N.A. |
| 24 | Convertibility conditions | N.A. |
| 25 | Degree of convertibility | N.A. |
| 26 | Conversion rate | N.A. |
| 27 | Type of Conversion | N.A. |
| 28 | Type of shares into which the title is converted | N.A. |
| 29 | Issuer of such capital instrument | N.A. |
| 30 | Write-Down Mechanism | Yes. |
| 31 | Write-Down Trigger Events | A "Trigger Event" will be deemed to have occurred if (i) the CNBV publishes a determination, in its official publication of capitalization levels for Mexican banks, that Banco Santander Mexico's Fundamental Capital Ratio, as calculated pursuant to the applicable Mexican Capitalization Requirements, is equal to or below 4.5%, or (ii) both (A) the CNBV notifies the Issuer that it has made a determination, pursuant to Article 29 Bis of the Mexican Banking Law, that a cause for revocation of Banco Santander Mexico's license has occurred resulting from (x) the Issuer's non-compliance with corrective measures imposed by the CNBV pursuant to the Mexican Banking Law, or (y) the Issuer's non-compliance with the capitalization requirements set forth in the Mexican Capitalization Requirements and (B) the Issuer has not cured such cause for revocation, by (a) complying with such corrective measures, or (b)(1) submitting a capital restoration plan to, and receiving approval of such plan by, the CNBV, (2) transferring at least seventy five percent (75%) of its shares to an irrevocable<br>trust and (3) not being classified in Class III, IV, or V, or (c) remedying any capital deficiency, , in each case, on or before the third (in the case of (A)(z)) or seventh (in the case of (A)(x) or (y)) business day in Mexico, as applicable, following the date on which the CNBV notifies the Issuer of such determination..<br>|

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 88 |

---

---

| | | |
|:---|:---|:---|
| 32 | Write-Down Amount | "Write-Down Amount" means an (i) amount that would be sufficient, together with any concurrent pro rata write down of any other loss-absorbing instruments issued by us and then outstanding, to return Banco Santander Mexico's Fundamental Capital to the levels required under Section IX, b), 2 of Annex 1-S of the General Rules Applicable to Mexican Banks, or (ii) if any Write-Down of the Current Principal Amount, together with any concurrent pro rata write down of any other loss-absorbing instruments issued by us and then outstanding, would be insufficient to return Banco Santander Mexico's Fundamental Capital to the levels required under Section IX, b), 2 of Annex 1-S of the General Rules Applicable to Mexican Banks, the amount necessary to reduce the Current Principal Amount of each outstanding Capital Note to zero. |
| 33 | Write-Up Mechanism | N.A., Write-Down, if applied, will be permanent. |
| 34 | Mechanism for temporary Write-Down | N.A. |
| 35 | Ranking of the Capital Notes in a liquidation event | The Notes constitute subordinated preferred indebtedness, and will rank (i) subordinate and junior in right of payment and in liquidation to all of the Issuer's present and future senior indebtedness, (ii) *pari passu* without preference among themselves and with all of the Issuer's present and future unsecured subordinated preferred indebtedness and (iii) senior only to all of the Issuer's present and future subordinated non-preferred indebtedness and all classes of the Issuer's equity or capital stock.. |
| 36 | Does any characteristic of the Notes breach conditions set forth in Annex 1-R, 1-S or 1-Q of the Mexican Banking Law | No. |
| 37 | Specify which characteristics of the Notes breach conditions set forth in Annex 1-R, 1-S or 1-Q of the Mexican Banking Law | N.A. |

---

**Table IV.1.4**

**Main characteristics of titles that are part of the Net Capital**

---

| | | |
|:---|:---|:---|
| **Reference** | **Characteristic** | **Options** |
| 1 | Issuer | Banco Santander México, S. A., Institución de Banca Múltiple, Grupo Financiero Santander México. |
| 2 | ISIN, CUSIP or Bloomberg Identifier | ISIN: US40053CAA36<br>CUSIP: 40053C AA3<br>BMV Ticker: BSMX 17<br>|
| 3 | Governing Law | The Capital Notes and the Indenture are governed by, and construed in accordance with the laws of New York, except that the ranking and subordination provisions, provisions related to mandatory cancellation of interest, provisions relating to conversion, provisions relating to a withholding tax redemption or a special redemption and the waiver of the right to set-off by the holders of the Capital Notes and by the Trustee acting on behalf of the holders with respect to the Capital Notes will be governed by and construed in accordance with the laws of Mexico. |
|  | **Regulatory Treatment** |  |
| 4 | Level of capital with transitory | N.A. |
| 5 | Level of capital without transitory | Tier 1 Capital (*Capital Básico No Fundamental*). |
| 6 | Instrument level within the Group | Subordinated Debt issued from our Credit Institution. |
| 7 | Type of Instrument | Perpetual Subordinated Non-Preferred Contingent Convertible Additional Tier 1 Capital Notes. |
| 8 | Amount acknowledged as regulatory capital | $9018160682.00 |
| 9 | Instrument's Face Value | $9,735,750,000 (USD $500,000,000.00) |
| 9A | Currency | USD. |
| 10 | Accounting Classification | Principal is accounted as debt, coupon payments are accounted as capital. |
| 11 | Issuance Date | December 23, 2016. |
| 12 | Type of Expiration | Perpetuity. |
| 13 | Expiration Date | N.A. |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 89 |

---

---

| | | |
|:---|:---|:---|
| 14 | Optional Redemption | Subject to certain conditions, the Issuer may redeem the Capital Notes at par plus accrued and unpaid interest due on, or with respect to, the Capital Notes, plus Additional Amounts, if any, (i) in whole or in part, only on the Optional Redemption Dates or (ii) in whole at any date by means of the existence a Withholding Tax Event or a Special Event.<br>|
| 15 | First Optional Redemption Date | January 20, 2022. |
| 15A | Does the early redemption clause contemplates Regulatory or Fiscal Events? | Yes.<br>*Withholding Tax Redemption*: The Issuer may redeem the Capital Notes at par plus accrued and unpaid interest due on, or with respect to the Capital Notes, plus Additional Amounts, if any, in whole but not in part, prior to the Maturity Date as a result of certain changes in tax law affecting the, and resulting in a higher, withholding tax applicable to interest payments under the Capital Notes, subject to the satisfaction of certain conditions.<br>*Special Event Redemption*: The Issuer may redeem the Capital Notes at par plus accrued and unpaid interest due on, or with respect to, the Capital Notes, plus Additional Amounts, if any, in whole but not in part, upon the occurrence of a Special Event (which event happens upon the occurrence of certain changes in capital treatment or tax deductibility of payments under the Capital Notes and the satisfaction of certain conditions).<br>|
| 15B | Liquidation price for an early redemption | Upon an early redemption, Capital Notes would be repaid at par plus accrued and unpaid interest due on, or with respect to, the Capital Notes, plus Additional Amounts, if any, |
| 16 | Subsequent early redemption dates | Every Interest Payment Date after the First Optional Redemption Date.<br>Early redemptions caused by a Withholding Event or a Special Event, which can be made at any date.<br>|
|  | **Yields / Dividends** |  |
| 17 | Type of Interest Rate | Fixed with reset dates on the First Redemption Date and every fifth anniversary thereafter. |
| 18 | Interest Rate | 8.50%. |
| 19 | Dividend Stopper Clause | Unless the most recent payable accrued interests and any Additional Interest on the Capital Notes have been paid, the Issuer shall not: (i) declare or pay any dividends or distributions on, or redeem, purchase, acquire, or make a liquidation payment with respect to, any of its capital stock; or (ii) make any payment of premium, if any, or interest on or<br>repay, repurchase or redeem any of its Subordinated Non-Preferred Indebtedness.<br>|
| 20 | Are Interest Payments discretionary | Completely Discretionary.<br>(a) Interest is payable solely at the Issuer's discretion, and no amount of interest shall become due and payable in respect of the relevant interest period to the extent that it has been canceled by the Issuer (in whole or in part) at its sole discretion and/or has been canceled as a result of the occurrence and continuation of an Interest Cancellation Event; and (b) a cancellation of interest (in whole or in part) shall not constitute a default.<br>|
| 21 | Interest increase / Step-Up clause | No. |
| 22 | Are Coupon Payments Cumulative? | No. |
| 23 | Convertibility of the instrument | Yes. |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 90 |

---

---

| | | |
|:---|:---|:---|
| 24 | Conversion Trigger Events | A Conversion Trigger Event shall occur:<br>(i) the Business Day in Mexico following the publication of a determination by the CNBV, in its official publication of capitalization levels for Mexican banks, that Banco Santander México's Fundamental Capital Ratio, as calculated pursuant to the applicable Mexican Capitalization Requirements, is equal to or below 5.125%;<br>(ii) if both (A) the CNBV notifies Banco Santander México that it has made a determination, pursuant to Article 29 Bis of the Mexican Banking Law, that a cause for revocation of Banco Santander México's license has occurred resulting from (x) Banco Santander México's assets being insufficient to satisfy its liabilities, (y) Banco Santander México's non-compliance with corrective measures imposed by the CNBV pursuant to the Mexican Banking Law, or (z) Banco Santander México's non-compliance with the capitalization requirements set forth in the Mexican Capitalization Requirements and (B) Banco Santander México has not cured such<br>cause for revocation, by (x) complying with such corrective measures, or (y)(1) submitting a capital restoration plan to, and receiving approval of such plan by, the CNBV, (2) not being classified in Class III, IV or V, and (3) transferring at least 75% of its shares to an irrevocable trust, or (z) remedying any capital deficiency, in each case, on or before the third or seventh calendar day in Mexico, as applicable, following the date on which the CNBV notifies Banco Santander México of such determination;<br>(iii) if the Banking Stability Committee, which is a committee formed by the CNBV, the Ministry of Finance and Public Credit (*Secretaría de Hacienda y Crédito Público*), Banco de México and the IPAB, determines pursuant to Article 29 Bis 6 of the Mexican Banking Law that, under Article 148, Section II, paragraphs (a)<br>and (b) of the Mexican Banking Law, financial assistance is required by Banco Santander México to avoid revocation of its license because Banco Santander México's assets are insufficient to satisfy Banco Santander México's liabilities, or Banco Santander México's failure to comply with corrective measures, to comply with capitalization requirements, or to satisfy certain liabilities when due, as a means to maintain the solvency of the Mexican financial system or to avoid risks affecting the Mexican payments system and such determination is either made public or notified to Banco Santander México (for the avoidance of doubt, pursuant to Annex 1-R of the general rules applicable to Mexican banks, a Conversion Trigger Event shall occur if financial assistance or other loans shall be granted to the Bank pursuant to Article 148, Section II, paragraphs (a) and (b) of the Mexican Banking Law)<br>|
| 25 | Conversion Amount | "Conversion Amount" means: (i) a conversion of the then Current Principal Amount of Capital Notes in an amount that would be sufficient, and together with any concurrent pro rata write-down or conversion of any other Subordinated Non-Preferred Indebtedness issued by Banco Santander México and then outstanding, to return Banco Santander México's Fundamental Capital Ratio to the then-applicable Fundamental Capital Ratio required by the CNBV in accordance with Section IV, c), 1 of Annex 1-R of the general rules applicable to Mexican banks or any successor regulation; or, if no such amount, together with any such concurrent pro rata write-down or conversion, would be sufficient to so restore Banco Santander México's Fundamental Capital Ratio to the aforementioned amount, then (ii) conversion of the then Current Principal Amount of Notes in the amount necessary to reduce the principal amount of each outstanding Note to zero. |
| 26 | Conversion Price | The conversion price shall be, if the Ordinary Shares are:<br>(i) then admitted to trading on the Mexican Stock Exchange, the higher of: (x) the volume weighted average of the Ordinary Shares closing price on the Mexican Stock Exchange for the thirty (30) consecutive Business Days immediately preceding the Conversion Date, with each closing price for the thirty (30) consecutive Business Days being converted from Mexican pesos into U.S. dollars at the then-prevailing exchange rate; or (y) floor price of Ps.20.30 converted into U.S. dollars at the then-prevailing exchange rate;<br>(ii) not then admitted to trading on the Mexican Stock Exchange, the floor price of Ps.20.30 converted into U.S. dollars at the then-prevailing exchange rate.<br>The conversion price shall be subject to certain anti-dilution adjustments.<br>|
| 27 | Type of Conversion | Mandatory. |
| 28 | Type of shares into which the title is converted | Banco Santander México's Series F shares (common shares). |
| 29 | Issuer of such capital instrument | Banco Santander México, S. A., Institución de Banca Múltiple, Grupo Financiero Santander México. |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 91 |

---

---

| | | |
|:---|:---|:---|
| 30 | Write-Down Mechanism | N.A. |
| 31 | Write-Down Trigger Events | N.A. |
| 32 | Write-Down Amount | N.A. |
| 33 | Write-Up Mechanism | N.A. |
| 34 | Mechanism for temporary Write-Down | N.A. |
| 35 | Ranking of the Capital Notes in a liquidation event | The Capital Notes will represent the Issuer's general, unsecured and subordinated obligations. The Capital Notes constitute Subordinated Non-Preferred Indebtedness and will rank (i) subordinate and junior in right of payment and in liquidation to all of the Issuer's present and future Senior Indebtedness and Subordinated Preferred Indebtedness, (ii) *pari passu* without preference among themselves and with all of the Issuer's present and future other unsecured Subordinated Non-Preferred Indebtedness and (iii) senior only to all classes of the Issuer's capital stock. |
| 36 | Does any characteristic of the Capital Notes breach conditions set forth in Annex 1-R, 1-S or 1-Q of the Mexican Banking Law | No. |
| 37 | Specify which characteristics of the Capital Notes breach conditions set forth in Annex 1-R, 1-S or 1-Q of the Mexican Banking Law | N.A. |

---

 

*The information relating to Annex 1-O Capitalization Ratio Santander Consumo, Santander Hipotecario and Santander Inclusión Financiera is available on the website* 

*www.santander.com.mx/ir*

**<u>Leverage ratio</u>**

---

| | | |
|:---|:---|:---|
| **Table I.1** | **Table I.1** | **Table I.1** |
| **Integration of the main sources of leverage** | **Integration of the main sources of leverage** | **Integration of the main sources of leverage** |
| | **Item** | **Dec-22** |
| 1 | &nbsp;&nbsp;&nbsp;On-balance sheet items (excluding derivatives and SFTs, but including collateral) | 1483064 |
| 2 | &nbsp;&nbsp;&nbsp;(Asset amounts deducted in determining Basel III Tier 1 capital) | (62625) |
| **3** | &nbsp;&nbsp;&nbsp;**Total on-balance sheet exposures (excluding derivatives and SFTs) (sum of lines 1 and 2)** | **1420439** |
| **Derivative exposures** | **Derivative exposures** | **Derivative exposures** |
| 4 | &nbsp;&nbsp;&nbsp;Replacement cost associated with all derivatives transactions (i.e. net of eligible cash variation margin) | 32206 |
| 5 | &nbsp;&nbsp;&nbsp;Add-on amounts for PFE associated with all derivatives transactions | 44883 |
| 6 | &nbsp;&nbsp;&nbsp;Gross-up for derivatives collateral provided where deducted from the balance sheet assets pursuant to the operative accounting framework | 0 |
| 7 | &nbsp;&nbsp;&nbsp;(Deductions of receivables assets for cash variation margin provided in derivatives transactions) | (3826) |
| 8 | &nbsp;&nbsp;&nbsp;(Exempted CCP leg of client-cleared trade exposures) | 0 |
| 9 | &nbsp;&nbsp;&nbsp;Adjusted effective notional amount of written credit derivatives | 0 |
| 10 | &nbsp;&nbsp;&nbsp;(Adjusted effective notional offsets and add-on deductions for written credit derivatives) | 0 |
| **11** | &nbsp;&nbsp;&nbsp;**Total derivative exposures (sum of lines 4 to 10)** | **73263** |
| **Securities financing transaction exposures** | **Securities financing transaction exposures** | **Securities financing transaction exposures** |
| 12 | &nbsp;&nbsp;&nbsp;Gross SFT assets (with no recognition of netting), after adjusting for sale accounting transactions | 121859 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 92 |

---

---

| | | |
|:---|:---|:---|
| 13 | &nbsp;&nbsp;&nbsp;(Netted amounts of cash payables and cash receivables of gross SFT assets) | (86445) |
| 14 | &nbsp;&nbsp;&nbsp;CCR exposure for SFT assets | 31084 |
| 15 | &nbsp;&nbsp;&nbsp;Agent transaction exposures | 0 |
| **16** | &nbsp;&nbsp;&nbsp;**Total securities financing transaction exposures (sum of lines 12 to 15)** | **66497** |
| **Other off-balance sheet exposures** | **Other off-balance sheet exposures** | **Other off-balance sheet exposures** |
| 17 | &nbsp;&nbsp;&nbsp;Off-balance sheet exposure at gross notional amount | 169613 |
| 18 | &nbsp;&nbsp;&nbsp;(Adjustments for conversion to credit equivalent amounts) | (89408) |
| **19** | &nbsp;&nbsp;&nbsp;**Off-balance sheet items (sum of lines 17 and 18)** | **80205** |
| **Capital and total exposures** | **Capital and total exposures** | **Capital and total exposures** |
| 20 | &nbsp;&nbsp;&nbsp;Tier 1 capital | **117004** |
| 21 | &nbsp;&nbsp;&nbsp;Total exposures (sum of lines 3, 11, 16 and 19) | **1640404** |
| **Leverage ratio** | **Leverage ratio** | **Leverage ratio** |
| **22** | &nbsp;&nbsp;&nbsp;**Basel III leverage ratio** | **7.13%** |

---

---

| | | |
|:---|:---|:---|
| **Table II.1** | **Table II.1** | **Table II.1** |
| **Comparison total assets and assets adjusted** | **Comparison total assets and assets adjusted** | **Comparison total assets and assets adjusted** |
| **Reference** | **Item** | **Dec-22** |
| 1 | &nbsp;&nbsp;&nbsp;Total consolidated assets as per published financial statements | 1843567 |
| 2 | &nbsp;&nbsp;&nbsp;Adjustment for investments in banking, financial, insurance or commercial entities that are consolidated for accounting purposes but outside the scope of regulatory consolidation | 0 |
| 3 | &nbsp;&nbsp;&nbsp;Adjustment for fiduciary assets recognised on the balance sheet pursuant to the operative accounting framework but excluded from the leverage ratio exposure measure | (62625) |
| 4 | &nbsp;&nbsp;&nbsp;Adjustments for derivative financial instruments | (165381) |
| 5 | &nbsp;&nbsp;&nbsp;Adjustment for securities financing transactions | (55362) |
| 6 | &nbsp;&nbsp;&nbsp;Adjustment for off-balance sheet items | 80205 |
| 7 | &nbsp;&nbsp;&nbsp;Other adjustments | 0 |
|  | &nbsp;&nbsp;&nbsp;**Leverage ratio exposure** | **1640404** |

---

---

| | | |
|:---|:---|:---|
| **Table III.1** | **Table III.1** | **Table III.1** |
| **Conciliation of total assets and exposure in the balance** | **Conciliation of total assets and exposure in the balance** | **Conciliation of total assets and exposure in the balance** |
| **Reference** | **Item** | **Dec-22** |
| 1 | &nbsp;&nbsp;&nbsp;Total consolidated assets as per published financial statements | 1843567 |
| 2 | &nbsp;&nbsp;&nbsp;operative derivative financial instruments | (238644) |
| 3 | &nbsp;&nbsp;&nbsp;operative securities financing transactions | (121859) |
| 4 | &nbsp;&nbsp;&nbsp;Trust assets recognized in the balance sheet under the accounting framework, but excluded from the exposure measure of the leverage ratio | 0 |
|  | &nbsp;&nbsp;&nbsp;**On-balance exposure** | **1483064** |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 93 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Table IV.1** | **Table IV.1** | **Table IV.1** | **Table IV.1** |
| **Variation of the elements** | **Variation of the elements** | **Variation of the elements** | **Variation of the elements** |
| | **Sep-22** | **Dec-22** | |
| Concept/Quarter | T-1 | T | Variation (%) |
| Basic Capital | 114762 | 117004 | 2 |
| Adjusted assets | 1675985 | 1640404 | (2) |
| Leverage ratio | **6.85%** | **7.13%** |  |

---

 

*The information relating to Annex 1-O Leverage Ratio is available on the website* 

*www.santander.com.mx/ir*

---

| |
|:---|
| **15. Risk Diversification** |
| Pursuant to the general rules for risk diversification in the performance of borrowing and lending transactions applicable to credit institutions, published in the Federal official Gazette on April 30<sup>th</sup>, 2003, the following information with respect to credit risk transactions as of December 31<sup>st</sup>, 2022, is provided:<br>- The Bank did not grant financing to debtors or groups of individuals representing single common risk greater than amount of core capital Bank.<br>- Loans granted to the three major debtors or groups of persons representing a common risk for a total amount of Ps.46,826 representing the 40.80% of the basic capital of the Bank.<br>- There are two financings greater than 10% of the basic capital of the Bank, the first with an amount of Ps.66,520 and the second with an amount of Ps.25,103, representing 57.96% and 21.87%, respectively.<br>|

---

16. Internal and external Sources of Liquidity

---

| |
|:---|
| **16. Internal and external Sources of Liquidity** |
| Financial sources of liquidity in domestic and foreign currency come from the different savings products that Banco Santander México offers to its clients; mainly demand and time deposits.<br>An additional internal source of liquidity is the collection of fees, interests and principal amounts of the loans that the Bank grants to its clients.<br>With respect to external sources of liquidity, the Bank has access to the domestic and foreign capital markets through the issuance of debt or equity instruments. Santander México also obtains funding from other institutions including the Mexican Central Bank, development banks, commercial banks, and other institutions.<br>Banco Santander México may also obtain liquidity through sale and repurchase agreements (short-term repos) over securities it holds in its investment portfolio. Additionally, the Bank could obtain liquidity through the sale of assets.  |

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17. Dividends Policy

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 94 |

---

---

| |
|:---|
| **17. Dividends Policy** |
| Banco Santander México performs the payment of dividends pursuant to the applicable legal, administrative, fiscal and accounting rules, based in the results obtained by Banco Santander México. The payment of dividends is discussed in the Ordinary General Stockholders' Meeting, which is the body that orders and approves the payment of dividends to the stockholders. |

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18. Treasury Policies

---

| |
|:---|
| **18. Treasury Policies** |
| The activities of Banco Santander México's treasury are performed pursuant to the following:<br>a) In compliance with the provisions issued by the different authorities of the financial system for bank institutions, such as guidelines for lending and borrowing transactions, accounting rules, liquidity and capital ratios, regulatory matching, capacity of the payment systems, among others.<br>b) Internal limits for market, liquidity and credit risks that are reviewed and approved by appropriate committees, i.e., there are limits established and independent for treasury activities for the management of the assets and liabilities of the bank with respect to the market and liquidity risk derived from such management, as well as the limits regarding counterparty risk derived from the daily transactions. The treasury is responsible for their activities within the limits allowed to manage their risk.<br>c) Compliance with the guidelines stipulated by national and international standard agreements regarding transactions performed in markets.<br>d) Sound market practices.<br>e) Strategies proposed in the banks internal committees.<br>f) Compliance with the operation policies and procedures of the institution.<br>|

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 95 |

---

19. Shareholding

---

| | |
|:---|:---|
| **19. Shareholding**<br>**Subsidiaries** | <br> **% of interest** |
| Santander Consumo, S.A. de C.V., SOFOM, E.R. | 99.99 |
| Santander Inclusion Financiera, S.A. de C.V., SOFOM, E.R. | 99.99 |
| Centro de Capacitación Santander, A.C. | 99.99 |
| Banco Santander, S.A. F-100740 | 99.99 |
| Fideicomiso GFSSLPT Banco Santander, S.A. | 89.14 |
| Santander Servicios Corporativos, S.A. de C.V. | 99.99 |
| Santander Servicios Especializados, S.A. de C.V. | 99.99 |
| Santander Tecnología México, S.A. de C.V. | 99.99 |

---

20. Internal Control

**20. Internal Control**

The activities of Banco Santander Mexico are governed by the current legislations of the local regulator and for a series of guidelines established by his holding company, Banco Santander, whose headquarters are located in Madrid.

For the compliance of the regulations in force, Santander México has developed and implemented an Internal Control Model (ICM) which includes the participation of the Board of Directors, , the Audit Committee, the Internal Audit Department, the General Direction, the Executive Direction of Non-Financial Risks (Internal Control), Financial Control Department and the Regulatory Control Department.

The ICM is based in the identification and documentation of the main risks and the annual assessment of the controls that are created to mitigate such risks. ICM guarantees, among other aspects, design and execution of controls, establishment and updating of measures and controls that promote the compliance with the internal and external regulations, such as the Committee of Sponsoring Organizations of the Treadway Commission (COSO) guidelines and the proper operation of the financial data processing systems.

Likewise, business continuity is ensured through a Business Continuity Management System aligned with the best practices in the industry and covering the established corporate and local regulatory requirements.

The internal control system includes:

The implementation of an organizational structure has allowed the development and growth of the bank. Such structure is constituted as follows

CEO and General Direction

The following functions report to the President and CEO:

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| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 96 |

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&nbsp;&nbsp;&nbsp;&nbsp;▪ **Presidency** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Deputy General Legal Director

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Deputy General Director of Risks

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Deputy General Director Corporate & Investment Banking

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Deputy General Director of Strategy, Public Affairs and Chief of Staff of the Executive Presidency

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Deputy General Management Business Strategy

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Executive Management Chief Audit Executive

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Executive Director Chief Information Security Officer

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Director of Chief of Staff North America

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Coordination and Monitoring Department

&nbsp;&nbsp;&nbsp;&nbsp;▪ **Vice President of Commercial Network and EIB:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Deputy General Director Digital and Innovation

&nbsp;&nbsp;&nbsp;&nbsp;▪ **Vice President of Administration and Finance:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Deputy General Director Intervention and Management Control

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Deputy General Director Corporate Resources and Recoveries

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| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 97 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Finance Executive Director

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Human Resources Executive Director

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Executive Director Deputy Head of Technology

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Operations Executive Director

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Financial Inclusion Executive Director

\*Organizational structure effective as of September 30<sup>th</sup>, 2022. For the recent organizational changes announced, please refer the V. Relevant Events section of this report.

The roles and responsibilities of each direction have been stipulated in order to optimize the performance of the activities of Santander México.

The Organization area, via manuals, circulars and bulletins, governs the activities of the bank; likewise, the Regulatory Control Department has established a general Code of Conduct that every employee of Santander México has to follow.

The structure of Santander México includes the constitution of a Board of Directors, which establishes the objectives, the policies and general procedures of Santander México, the appointment of directors and the constitution of committees that are to supervise the development of the activities of Santander México.

The committees that supervise the development of the entities that constitute Banco Santander México, created and reported to the Board of Directors, are:

&nbsp;&nbsp;&nbsp;&nbsp;▪ Audit Committee

&nbsp;&nbsp;&nbsp;&nbsp;▪ Corporate Practices, Nominating
and Compensation Committee

&nbsp;&nbsp;&nbsp;&nbsp;▪ Risk Management Committee

&nbsp;&nbsp;&nbsp;&nbsp;▪ Remuneration Committee

The registration, control and storage of the daily activities of Santander México are carried out by systems mainly designed and focused on the banking and brokerage activity. The common platform for such purposes is known as ALTAIR and it is applied by all the entities in Latin America that are part of Banco Santander (España).

Loans portfolio and transactions of commercial banking of the bank are controlled and registered at ALTAIR. Treasury activities are controlled and registered in computer platforms and the operations are centralized for its accounting registration in ALTAIR. Such platforms comply with the parameters stipulated by the CNBV with respect to reliability and accuracy.

Santander México is regulated by the CNBV, and therefore, the financial statements are prepared according to the accounting practices stipulated by such Commission via the issue of accounting circulars, general official letters and particular official letters regarding the accounting registration of transactions. For such purposes, the accounting system of Santander México has been structured with an accounts catalog stipulated by the Commission, and all the reports come from such system and comply with the applicable provisions.

Within Santander México, there is an independent area of Internal Audit, whose mission is to oversee the compliance, efficacy and efficiency of the internal control systems of the Bank, as well as the reliability and quality of the accounting information.

To achieve so, Internal Audit verifies that the risks inherent to the activity of Santander México are properly covered and the policies stipulated by the Direction, the applicable internal and external regulations and the procedures are observed.

The results of the activities of Internal Audit are reported on regular basis to the General Direction, the Audit Committee and the Board of Directors. Among other issues, the results of the audits performed to the different business units of the companies that constitute Santander México and the follow up of the recommendations provided to the different areas and/ or entities are informed.

Internal Audit has a quality system oriented to the client satisfaction focus on continuous process improvement, which has been subject to a successful Quality Assurance Review (QAR) during 2019.

In summary, Internal Control of Santander México includes the continuous development, implementation and updating of an internal control model where all the areas of the bank have an active role.

During the quarter, there have been no changes to the internal controls and internal audit guidelines.

21. Transactions with related parties

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| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 98 |

---

---

| |
|:---|
| **21. Transactions with related parties** |
| **Receivable** |

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---

| | |
|:---|:---|
| Cash and cash equivalents | 4828 |
| Debtors under sale and repurchase agreements | 402 |
| Derivatives (asset) | 99637 |
| Loan portfolio with credit risk stage 1 | 5566 |
| Other receivables, (net) | 2588 |
| Intangible assets | 274 |
| **Payable** |  |
| Time deposits | 4100 |
| Demand deposits | 2481 |
| Credit instruments issued | 25 |
| Creditors under sale and repurchase agreements | 3218 |
| Derivatives (liability) | 83065 |
| Other payables | 18970 |
| Creditors from settlement of transactions | 1035 |
| Subordinated debentures | 32960 |
| **Revenues** |  |
| Interest | 69 |
| Premium on sale and repurchase agreements | 22 |
| Others | 213 |
| Net Commissions | 6629 |
| Net gain (loss) on financial assets and liabilities | 8334 |
| **Expenses** |  |
| Interest | 1931 |
| Administrative expenses | 1171 |
| Technical assistance | 3593 |

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22. Interests on loan portfolio

---

| |
|:---|
| **22. Interests on loan portfolio** |
| As of December 31<sup>st</sup>, 2022, the consolidated income statement includes, in the item "Interest income", Ps. 93,201 million that correspond to interests from the loan portfolio of Banco Santander México, S.A. and Santander Consumo, S.A. de C.V. SOFOM E.R. |

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23. Integral Risk Management

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| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 99 |

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**23. Integral Risk Management**

Risk management is considered by Banco Santander as a competitive element of strategic nature with the purpose of maximizing the value for the stockholder. This management is defined, from a conceptual and organizational sense, as a comprehensive management of the different risks (market risk, liquidity risk, credit risk, counterparty risk, operative risk, legal risk and technological risk) assumed by Banco Santander for the development of its activities. The management of the risk inherent to transactions is essential for understanding and determining the behavior of the financial condition of Banco Santander and the creation of long-term value.

In order to comply with the provisions regarding the Comprehensive Risk management applicable to credit institutions, issued by the National Banking and Exchange Commission, the Board of Directors agreed to create the Comprehensive Risk Management Committee of Banco Santander, to work pursuant to the rules set by such regulations. This Committee gathers every month and verifies that the transactions are according to the objectives, policies and procedures approved by the Board of Directors for the Comprehensive Risk Management.

The Comprehensive Risk management Committee delegates in the Comprehensive Risk Management Unit the responsibility for the implementation of procedures for the measure, administration and control of risks according to the applicable policies; such Unit has the faculty to authorize amounts greater than the stipulated limits and in such cases, the Board of Directors shall be informed on such deviations.

**Market Risk**

The Market Risk Management department of the Comprehensive Risk management Unit is responsible for recommending the policies on market risk management of Banco Santander, and to establish the parameters for risk measuring, and to provide reports, analysis and assessments to the senior management, to the Comprehensive Risk management Committee and to the Board of Directors.

The market risk management is to identify measure, monitor and control risks arising from fluctuations in interest rates, exchange rates, prices and other market risk factors in currency, money, capital and derivative markets that are exposed the positions that belong to Banco Santander.

The market risk measurement quantifies the potential variation in the value of the positions as a consequence of changes in the market risk factors.

Depending on the nature of the activities of each business unit, debt and capital instruments are registered as securities for trade, securities available for sale and or securities held to maturity. The main characteristic that identifies securities available for sale is their permanent nature and they are managed as an structural part of the balance sheet. Banco Santander has established provisions that all securities available for sale must fulfill, as well as adequate controls for the compliance of such provisions.

Whenever significant risks are identified, they are measured and limits are allocated in order to assure an adequate control. Global measurement of risk is carried out via a combination of the methodology applied to Portfolios for Trade and to the management of Assets and Liabilities.

**Trading Books** 

In order to measure the risk in a global approach, the methodology of Value at Risk ("VaR") is used. VaR is defined as the statistical estimate of the potential loss of value of a given position, during certain period and at certain confidence level. VaR provides a universal measure of the level of exposure of the different risk portfolios; it allows the comparison of the risk level assumed in different securities and markets and expresses the level of each portfolio through a unique figure in economic units.

VaR is calculated via historical simulation, with a 521 working-days window (520 percentage changes) and a one-day horizon. The calculation is performed from a series of simulated gains and losses with 1% percentile at constant pesos and with pesos decreasing on an exponential basis, with a decrease factor that is reviewed on annual basis, the most conservative measure is the one to be reported. A confidence level of 99% is assumed.

Note that the historical simulation model is limiting to assume that the recent past represent the near future.

The Value at Risk as of the end of fourth quarter of 2022 (unaudited) amounted to:

---

| | | |
|:---|:---|:---|
| **Bank** | **Bank** | **Bank** |
|  | **VaR** <br>**(Thousands of Mexican pesos)**<br>| **%** |
| **Trading Desks** | **41463.36** | **0.03%** |
| Market Making | 37197.15 | 0.03% |
| Proprietary Trading | 22007.12 | 0.02% |
| **Risk factor** |  |  |
| Interest rate | 38589.74 | 0.03% |
| Foreign exchange | 18623.17 | 0.01% |
| Equity | 1326.94 | 0.00% |
| \* % of VaR with respect to Net Capital | \* % of VaR with respect to Net Capital |  |

---

The Value at Risk for the average the fourth quarter of 2022 (unaudited) amounted to:

---

| | | |
|:---|:---|:---|
| **Bank** | **Bank** | **Bank** |
|  | **VaR <br> (Thousands of pesos)** | **%** |
| **Trading Desks** | **40073.18** | **0.03%** |
| Market Making | 34690.23 | 0.02% |
| Proprietary Trading | 16058.68 | 0.01% |
| **Risk factor** |  |  |
| Interest rate | 35371.70 | 0.02% |
| Foreign exchange | 19803.15 | 0.01% |
| Equity | 1214.65 | 0.00% |
| \* % of VaR with respect to Net Capital | \* % of VaR with respect to Net Capital |  |

---

Likewise, monthly simulations of gains or losses of portfolios are carried out by revaluating such portfolios under different scenarios (Stress Test). Such estimates are generated using two different methods:

&nbsp;&nbsp;&nbsp;&nbsp;▪ Applying to risk factors the
percentage changes observed in certain periods including relevant market turbulences.

&nbsp;&nbsp;&nbsp;&nbsp;▪ Applying to risk factors changes
that depend on the volatility of each risk factor.

On a monthly basis "back testing" is carried out to compare daily gains and losses that would have been observed is the same positions had been maintained, taking into account only the change in value at risk in order to be able to fine tune the models. Even though these reports are prepared on a monthly basis, they include daily tests.

**Assets and Liabilities Management** 

Commercial banking activities of Banco Santander generate important balance sheet amounts. The Assets and Liabilities Committee ("ALCO") is responsible for determining the guidelines for the management of financial margin risk, net worth value and liquidity that must be followed by the different commercial portfolios. Pursuant to this approach, the General Direction of Finances has the responsibility to execute the strategies defined by the Assets and Liabilities Committee in order to modify the risk profile of the commercial portfolio by following the corresponding policies. Compliance with information requirements for interest rate, Exchange rate and liquidity risks is fundamental.

As part of the financial management of Banco Santander, sensitivity to Net Interest Income ("NIM") and Market Value of Equity ("MVE") of the different balance sheet items is analyzed in comparison to variations in interest rates. This sensitivity is derived from the difference between maturity dates of assets and liabilities and the dates interest rates are modified. The analysis is performed from the classification of each item sensitive to interest rate throughout time, according to their repayment, maturity or contractual modification of the applicable interest rate.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Sensitivity NIM** | **Sensitivity NIM** | **Sensitivity NIM** | **Sensitivity NIM** | **Sensitivity MVE** | **Sensitivity MVE** | **Sensitivity MVE** | **Sensitivity MVE** |
| **Bank** | **Oct-22** | **Nov-22** | **Dec-22** | **Average** | **Oct-22** | **Nov-22** | **Dec-22** | **Average** |
| Balance MXN GAP | 21% | 16% | 19% | 18% | 63% | 55% | 64% | 61% |
| Scenario | Decrease | Decrease | Decrease | N/A | Increase | Increase | Increase | N/A |
| Balance USD GAP | 28% | 28% | 27% | 27% | 33% | 34% | 32% | 33% |
| Scenario | Decrease | Decrease | Decrease | N/A | Decrease | Decrease | Decrease | N/A |

---

\*For high volatility currencies, a scenario of +/-100 bps is considered, while for low volatility currencies, a scenario of +/-25 bps is used. The decrease scenario considers a shock of -100/-25 bps, while the increase scenario refers to a shock +100/+25 bps.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 100 |

---

Using simulation techniques, the predictable change of the net interest income and the market value of equity are measured in different interest rate scenarios, and their sensitivity under extreme movement of such scenarios, as of the end of the fourth quarter of 2022:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Sensitivity NIM** | **Sensitivity NIM** | **Sensitivity NIM** | **Sensitivity NIM** | **Sensitivity MVE** | **Sensitivity MVE** | **Sensitivity MVE** | **Sensitivity MVE** |
| **Bank** | **Scenario** | **Total** | **Derivatives** | **Non Derivatives** | **Scenario** | **Total** | **Derivatives** | **Non Derivatives** |
| Balance MXN GAP | Decrease | (283) | (1315) | 1032 | Increase | (2737) | 2702 | (5439) |
| Balance USD GAP | Decrease | (262) | 100 | (361) | Decrease | (951) | (1641) | 691 |

---

\*For high volatility currencies, a scenario of +/-100 bps is considered, while for low volatility currencies, a scenario of +/-25 bps is used. The decrease scenario considers a shock of -100/-25 bps, while the increase scenario refers to a shock pf +100/+25 bps.

The Assets and Liabilities Committee adopts investment and hedging strategies in order to maintain such sensitivities within the target range.

**Limits** 

Limits are used to control global risk of the financial group derived from each portfolio and books. The structure of limits is used to control exposures and to establish the total risk authorized to business units. These limits are established for VaR, Loss alert, maximum loss, equivalent volume of interest rate, delta equivalent in equity, open foreign currency positions, sensitivity of net interest income and sensitivity of market value of equity.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 101 |

---

**Liquidity Risk** 

Liquidity risk is related to the ability of Banco Santander to finance acquired commitments at reasonable market prices, as well as to fulfill business plans with stable financing sources. Risk factors may be external (liquidity crisis) and internal due to excessive concentration of maturities.

Banco Santander carries out a coordinated management of maturities of assets and liabilities, and oversees the maximum timing difference profiles. This monitoring is based in the analysis of maturities of assets and liabilities, both contractual and managerial. Banco Santander realizes a control for the maintenance of a sufficient quantity of liquid assets to guarantee a horizon of survival during a minimum of days facing a scene of stress of liquidity without resorting to additional financing sources. The risk of Liquidity is limited in terms of a minimal period of days established for local, foreign and consolidated currencies. It is necessary to indicate that in the current quarter incidents have not been had in the metrics.

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Millions of Pesos** | **Total** | **1D** | **1W** | **1M** | **3M** | **6M** | **9M** | **1Y** | **5Y** | **>5Y** |
| **Structural GAP** | **565230** | **(43665)** | **(136426)** | **(91797)** | **131757** | **32679** | **58396** | **30166** | **527065** | **57055** |
| Non Derivative | 549802 | (43561) | (138848) | (91929) | 132744 | 30036 | 58112 | 27507 | 522325 | 53416 |
| Derivatives | 15428 | (105) | 2422 | 132 | (987) | 2642 | 284 | 2659 | 4741 | 3639 |

---

**Credit Risk** 

Management of credit risk of Grupo Financiero Santander is developed differently for the different segments of clients along the three phases of the credit process: acceptance, follow-up and recovery.

From a global perspective, management of credit risk in Grupo Financiero Santander is responsible for the identification, measurement, integration and assessment of the aggregated risk and the profitability according to such risk; with the purpose of oversee the levels of risk concentration and to adapt them to the limits and objectives previously established.

Risks receiving an individual treatment (risks with companies, Grupo Financiero Santander and financial entities) are identified and taken apart from those other risk that are managed in standardized manner (consumer and mortgages credits to individuals, loans to businesses and small enterprises) .

Risks managed on individual basis are subject to a solvency or rating system with a related probability of failure that allows the measuring of the risk for each client and for each transaction from the beginning. The assessment of the client, after analyzing other relevant risk factors in different areas, is adjusted according to the special characteristics of the transaction (guarantee, term, etc,).

Standardized risks require, due to their special characteristics (great number of transactions for relatively low amounts), a different management that allows an efficient process and effective use of resources, so automated decision tools are used (expert and credit scoring systems).

Management of loans to companies is complemented, during the follow-up phase, with the so called "system of special monitoring" that determines the policy to be followed in the management of the risks with companies or groups rated within such category. Different situations of levels of monitoring are identified and generate different actions. A special monitoring grade is given in the case of alert signals, systematic reviews, or specific initiatives promoted by the Risks Department or Internal Audit.

Recovery Units constitute a critical element in the management of irregular risk, in order to minimize the final loss for Grupo Financiero Santander. These units are responsible for a specialized management of the risk from the moment they are classified as irregular risk loans (defaulting payment).

Grupo Financiero Santander has carried out a policy for the selective growth of risk and a strict treatment of late payments and the creation of the corresponding provisions, based in the prudent criteria defined by the Group.

**Probability of Default and Expected Losses** 

Pursuant to the provisions on Comprehensive Risk Management included in the general regulations applicable to credit institutions, as part of the credit risk management, credit institutions must determine the probability of default.

The system allows the calculation of the probability for the different loans portfolios.

&nbsp;&nbsp;&nbsp;&nbsp;a. The probability of failure is for "No Retail" portfolios. It is determined via the fine tune
of the ratings of clients in a given moment, based in the Monthly Default Rates observed during a period of five years. Such Default Rates
are adjusted to an economic cycle of ten years. For "Retail" portfolios, the standard default probabilities set by the Basilea
Convention are used.

&nbsp;&nbsp;&nbsp;&nbsp;b. Once the probability of default is determined, the parameters of "severity of Loss" ("LGD")
and "Exposure at Default" ("EAD") stipulated in Basilea, are taken into consideration.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 102 |

---

Once the abovementioned factors are obtained, the Expected Loss ("PE") is calculated as follows:

*Expected Loss = Probability of Default x Severity of Loss x Exposure at Default* 

i.e.: PE = PD \* LGD \* EAD

**Counterparty Risk**

Whitin the credit risk, there is a concept that, due to its specific characteristics, it requires a special management: the Counterparty Credit Risk.

Counterparty Credit Risk (CCR) is defined as the risk that may arise from total or partial breach of the financial obligations contracted with the entity. It is a bilateral credit risk, as it may affect both parties of the transaction, and it is uncertain, since it is conditioned by the behaviour of markets, which are volatile.

The financial securities that generates this exposure are the financial derivatives, repurchase agreements (REPOs) and security lending. The management and control of this type of credit risk is carried out by a specific team with an organizational structure independent from the business teams.

For the control of the counterparty credit lines, the Equivalent Credit Risk (REC) is used. The REC is the metric that represents the peak exposure or the highest potential future exposure value at a specific time interval and it can be obtained in the following ways:

&nbsp;&nbsp;&nbsp;&nbsp;· Gross REC: it measures the
exposure without considering netting and collateral agreements. It´s obtained at a transaction level and at other levels of aggregation.

&nbsp;&nbsp;&nbsp;&nbsp;· Net REC: it measures the
exposure considering netting and collateral agreements and personal or financial guarantees. It´s calculated at a netting agreement
level and at other levels of aggregation.

In addition to the Counterparty Risk, there is the issuing risk, which is generated by the acquisition and / or direct disposal of public and private instruments of authorized securities and the Settlement Risk, also known for Herstatt risk for FX trading, is the risk that is generated in the exchange of securities when one of the parties fails to deliver the securities/currency/cash, committed by contract, having received the amount from the other party.

The control of Counterparty Risk is performed in a daily basis using the Credit Risk Exposure Advanced Management (CREAM), which allows to know the credit line availability for all the counterparties, for any of the instruments already mentioned and term.

For the process of control for this risk, Financial Risk Division oversees on a daily basis the compliance with the limits on counterparty credit risks by product, term and other conditions stipulated in the authorization for financial markets. Likewise, it is the responsible for communicating on a daily bases, the limits, consumptions and any incurred deviation or excess.

On a monthly basis, a report is presented to the Risk Management Committee, with respect to the limits to Counterparty Credit Risks, Issuer Risks and current consumptions. In addition, on a monthly basis, a report is presented to the Global Banking Credit Committee and Retail Credit Committee with respect to incurred excesses and transactions with non-authorized customers. Also, in a monthly basis, is presented to the Risk Management Committee the present value of the expected loss for the actual portfolio of derivatives and repos in a base scenario and two other stressed scenarios (LGD and PD).

Currently, Banco Santander has lines of counterparty credit risk with the following segments: Mexican Sovereign Risk and Domestic Development Banking, Foreign Financial Institutions, Mexican Financial Institutions, Corporations, Companies Banking-SGC, Institutional Banking, Large Enterprises Unit and Project Finance.

**Equivalent Net Credit Risk of the lines of Counterparty Credit Risk and Issuer Risk of Banco Santander for the 4Q of 2022:**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Equivalent Net Credit Risk** | **Equivalent Net Credit Risk** | **Equivalent Net Credit Risk** | **Equivalent Net Credit Risk** | **Equivalent Net Credit Risk** |
| Millions of U.S. Dollars | Millions of U.S. Dollars | Millions of U.S. Dollars | Millions of U.S. Dollars | Millions of U.S. Dollars |
| **Segment** | **Oct-22** | **Nov-22** | **Dec-22** | **Average** |
| Sovereign Risk, Development Banking and Financial Institutions | 1651 | 1524 | 1250 | 1475 |
| Corporates | 614 | 636 | 601 | 617 |
| Project Finance | 142 | 175 | 173 | 163 |
| Companies | 153 | 185 | 173 | 171 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 103 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Mart to Market** | **Mart to Market** | **Mart to Market** | **Mart to Market** | **Mart to Market** |
| Millions of U.S. Dollars | Millions of U.S. Dollars | Millions of U.S. Dollars | Millions of U.S. Dollars | Millions of U.S. Dollars |
| **Segment** | **Oct-22** | **Nov-22** | **Dec-22** | **Average** |
| Sovereign Risk, Development Banking and Financial Institutions | 817 | 93 | 720 | 543 |
| Corporates | (252) | (241) | (159) | (217) |
| Project Finance | (109) | (79) | (87) | (91) |
| Companies | (207) | (133) | (179) | (173) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Weighted Rating** | **Weighted Rating** | **Weighted Rating** | **Weighted Rating** | **Weighted Rating** |
| **Segment** | **Oct-22** | **Nov-22** | **Dec-22** | **Average** |
| Sovereign Risk, Development Banking and Financial Institutions | 6.9 | 6.8 | 6.6 | 6.7 |
| Corporates | 6.6 | 6.7 | 6.7 | 6.7 |
| Project Finance | 5.6 | 5.6 | 5.6 | 5.6 |
| Companies | 5.8 | 5.9 | 5.4 | 5.7 |

---

*The average rating was calculated by weighting internal rating by exposure* 

Equivalent Net Credit Risk of the lines of Issuer Risk of Banco Santander for the 4Q of 2022:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Equivalent Net Credit Risk** | **Equivalent Net Credit Risk** | **Equivalent Net Credit Risk** | **Equivalent Net Credit Risk** | **Equivalent Net Credit Risk** |
| Millions of U.S. Dollars | Millions of U.S. Dollars | Millions of U.S. Dollars | Millions of U.S. Dollars | Millions of U.S. Dollars |
| **Segment** | **Oct-22** | **Nov-22** | **Dec-22** | **Average** |
| Sovereign Risk, Development Banking and Financial Institutions | 21613 | 22114 | 23467 | 22398 |
| Corporates | 12 | 12 | 12 | 12 |
| Project Finance | 0 | 0 | 0 | 0 |
| Companies | 0 | 0 | 0 | 0 |

---

The equivalent credit risk lines maximum gross counterparty risk of Banco Santander as of the end of the 4Q of 2022, which corresponds to derivative transactions, is distributed depending on the type of derivative:

---

| | |
|:---|:---|
| **Gross REC distribution** | **Gross REC distribution** |
| **Type of Derivative** | **End of 4Q of 2022** |
| Interest Rate Derivatives | 47.86% |
| Exchange Rate Derivatives | 51.85% |
| Bonds Derivatives | 0.00% |
| Equity Derivatives | 0.29% |
| **Total** | **100.00%** |

---

The Expected Loss of Banco Santander at the end of the quarter of 2022, and the quarterly average of the expected loss of the lines of Counterparty risk of Banco Santander are:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Expected Loss** | **Expected Loss** | **Expected Loss** | **Expected Loss** | **Expected Loss** |
| Millions of U.S.Dollars | Millions of U.S.Dollars | Millions of U.S.Dollars | Millions of U.S.Dollars | Millions of U.S.Dollars |
| **Segment** | **Oct-22** | **Nov-22** | **Dec-22** | **Average** |
| Sovereign Risk, Development Banking and Financial Institutions | 5.87 | 4.92 | 4.50 | 5.10 |
| Corporates | 8.93 | 5.64 | 4.55 | 6.37 |
| Project Finance | 1.19 | 1.68 | 1.61 | 1.49 |
| Companies | 2.13 | 2.42 | 2.28 | 2.28 |

---

The segments of Mexican Financial Institutions and Foreign Financial Institutions are very active counterparties with whom Banco Santander has current positions of financial instruments with Counterparty Credit Risk. It is important to mention that Equivalent Credit Risk is mitigated by netting agreements (ISDA-CMOF) and, in some cases, by collateral agreements (CSA-CGAR) or revaluation agreements with counterparties.

Respect to total collateral received for derivatives transactions as of the end of the 4Q of 2022:

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 104 |

---

---

| | |
|:---|:---|
| **Collateral received for derivatives** | **Collateral received for derivatives** |
|  | **Percentage** |
| Cash | 72.29% |
| Debt issued by the Mexican Government | 12.48% |
| Debt issued by Sovereigns other than the Mexico | 15.24% |

---

Note: In the event that the credit rating of Banco Santander is lowered, there would be no impact on the amount of real guarantees that the Institution would have to provide, because the guarantee contracts with a threshold greater than 0 are unilateral in favor of the Institution.

In respect to collateral management in derivatives transactions, counterparty's positions are valuated according to the frequency established at each collateral agreement. In addition, all credit risk parameters, established at each collateral agreement are considered to obtain the amount of collateral to be delivered or to be received from the counterparty. These amounts, margin calls, will be requested from the counterparty which has the right to receive the collateral, according to the frequency established at the collateral agreement. The counterparty which receives the margin call, has the right to analyze the valuation and it could result on discrepancies to solve. There are two types of margins for derivatives:

&nbsp;&nbsp;&nbsp;&nbsp;· Variation Margin: it refers to collateral delivered
by a counterparty to another counterparty in order to meet its obligations under one or more transactions between the parties, as a result
of a change in the value of such obligations since the last time those collaterals were delivered.

&nbsp;&nbsp;&nbsp;&nbsp;· Initial Margin: it refers to the collateral received
by a counterparty to cover its current and future exposure in the interval between the last receipt of margin and the settlement of positions
or the coverage of market risk after a default by the other counterparty.

The control of wrong-way risk is also performed by the counterparty credit risk team. This risk occurs when the "exposure to a counterparty is adversely correlated with the credit quality of that counterparty", in short it arises when default risk and credit exposure increase together. In Banco Santander (Mexico) the deals with wrong-way risk receive a special treatment, they are not included in the netting set and must have an independent CSA, so the exposure is limited.

**Legal Risk** 

Legal Risk is defined as the potential loss due to the failure to comply with the applicable legal and administrative regulations, the issue of administrative and judicial resolutions against Banco Santander and the application of fines, with respect to the transactions carried out by Banco Santander.

Pursuant to the provisions regarding the Comprehensive Risk Management, the following activities are performed: a) Establishment of policies and procedures for analyzing the legal validity and the proper execution of the legal acts. b) estimates of the amount of potential losses derived from judicial or administrative orders against Banco Santander and the possible application of fines c) Analysis of the legal acts governed by a legal system different to the Mexican laws, d) communication to directors and employees on the legal and administrative regulations applicable to transactions and e) the performance, at least on annual basis, of internal legal audits.

**Operational Risk**

Operational risk is defined as the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events.

The main objective is to avoid or reduce the impact of Operational Risk, through the identification, monitoring and control of the factors that trigger the events of potential loss. Therefore, the institution has established policies and procedures to operate under the risk exposure that the Bank is willing to accept.

The sound management of risk involves mainly the heads of each Business Unit on the management tools and results; as well as a continuous training to the staff. The pillars on which the operational risks are managed are:

a) Strategic planning and budget: Required activities to define the operational risk profile for Banco Santander México; this includes:

- Risk appetite, defined as the level of risk that the Bank is willing to accept

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 105 |

---

- Loss annual budget, ensuring the overview of real losses according to the budget and the deviations, challenging the controls and extenuation measures.

b) Identify, measure and evaluation of the Operational risk; identify risks and the factors that trigger them in the Bank, and estimate the qualitative or/and quantitative impact.

c) Monitoring; The Overview and monitoring of operational risk goal for periodic analysis of available information of risk (type and level) during the normal development of the activities.

d) Extenuation (Mitigation); once the Operational Risk has been assessed, it is required to establish actions to avoid the risk or to mitigate the impact for risk that materialize, develop a cost-benefit study and indicators should be implemented to help us evaluate the effectiveness of these actions.

e) Reporting; the Operational Risk profile and performance of the Operational Risk environment is presented on a regular basis in Bank Committees.

During the fourth quarter of 2022, the monthly average Operational Risk loss reported by Banco Santander México is Ps.32.1 million. This amount represents a decrease of 12% compared to the same period in 2021.

Since December 2016, Banco Santander México applies the Alternate Standard Approach (ASA) for operational risk capital requirements.

**Technological Risk**

Technological risk is defined as the potential loss due to damages, discontinuation, alterations or failures derived from the use or dependence on hardware, software, systems, applications, networks and any other data channel distribution for the provision of banking services to the clients of Banco Santander.

Banco Santander México has adopted a corporate model for the management of technological risk (which includes cyber risks), integrated into the service and support processes of the technological areas, to identify, evaluate, monitor, control, mitigate and report the technological risks to which the operation is exposed. This model allows the establishment of control measures to reduce the probability of risks materializing or, minimize the impact of those risks.

**Processes and levels of authorization**

Pursuant to internal regulations, all the products and services traded by Banco Santander are approved by the "Comité de Comercialización" and by the "Comité Corporativo de Comercialización". Those products or services that are modified or extended with respect to their original approval must be approved by the "Comité de Comercialización" and, depending of their relevance, the "Comité Corporativo de Comercialización" must approve them too.

All areas taking part in the operation of the product or service, depending on the nature of such product or service, as well as the areas responsible for their accounting registration, legal formalization, fiscal treatment, risk assessment, etc. are present in the Committee. All approvals shall be unanimous as there are no authorizations approved by majority of votes. In addition to the Committee's approval, there are products that require authorizations from local authorities, and therefore, the Committee's approvals are subject to the authorizations issued by the competent authorities in each case.

Finally, all the approvals shall be authorized by the Comprehensive Risk Management Committee.

**Independent Reviews** 

Banco Santander is subject to the monitoring and supervision of the National Bank and Exchange Commission, the Central Bank of Mexico and the Bank of Spain, and such monitoring and supervision is exercised via follow-up processes, inspection visits, information requests, delivery of documents and reports.

Likewise, periodic reviews are performed by Internal and External Auditors.

**General description of the valuation techniques** 

Derivative financial securities are valued at reasonable value, according to the accounting rules established in the Circular Letter for Credit Institutions issued by the National Banking and Exchange Commission, in Principle B-5 "Derivative Financial Instruments and hedging Transactions" and the provisions in Principle A-2 "Application of specific rules", and the provisions in the specific rule included in Bulletin C-10 of the Financial Information Rules.

A. Methodology of Valuation

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 106 |

---

1) Trading purposes

&nbsp;&nbsp;&nbsp;&nbsp;a) Organized Markets

Valuation is made at the corresponding closing market price. Prices are provided by the supplier of prices.

&nbsp;&nbsp;&nbsp;&nbsp;b) Over-the-Counter Markets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i) Derivative financial instruments with optionality.

In the majority of the cases, a general form of the Black & Scholes model is used. Such model assumes that the underlying product follows a lognormal distribution. For exotic products or when payment depends on the trajectory of any market variable, MonteCarlo simulations are used. In this case, it is assumed that logarithms of the different variables follow a multi-varied normal distribution.

ii) Derivative financial instruments with no optionality.

The valuation technique is to obtain the present value of the estimated future flows.

In all cases, Banco Santander carries out the valuation of its positions and registers the corresponding value. In some cases, a different calculation agent is designated, and such calculation agent may be the counterparty or a quarter party.

2) Hedging purposes

In the performance of its commercial banking activities, Banco Santander has tried to cover the evolution of the financial margin of structured portfolios that are exposed to adverse movements in interest rates. The ALCO, the body responsible for the management of long-term assets and liabilities, has constituted the portfolio via which the Banco Santander achieves such hedge.

An accounting hedge is defined as a transaction that complies with the following conditions:

a. A hedge relationship is designated and documented from the beginning
in an individual file, where its objective and strategy is established.

b. The hedge is effective for the compensation of variations in
the reasonable value or in the cash flows attributed to such risk, according to the risk management documented at the beginning.

The Management of Banco Santander performs derivative transactions for hedging purposes with swaps.

Derivatives for hedging purposes are valued at market value, and the effect is recognized depending on the type of accounting hedge, pursuant to the following:

&nbsp;&nbsp;&nbsp;&nbsp;a. In the case of fair value hedges, they are valued at market value for the risk covered, the primary position
and the hedging derivative instrument, and the net effect is registered in the statement of income of the corresponding period.

&nbsp;&nbsp;&nbsp;&nbsp;b. In the case of cash flow hedges, the hedging derivative instrument is valued at market value. The effective
portion of the hedge is registered in the comprehensive income account, within the stockholders' equity, and the ineffective portion
is registered in the statement of income.

Banco Santander ceases the recording of hedges at the maturity date of the derivative, or when such derivative is sold, cancelled or exercised; when the derivative does not reach a high efficiency in compensating the changes in the reasonable value or the cash flows of the covered item, or when Banco Santander decides to cancel the hedge.

It shall be fully evidenced that the hedge fulfills the objective for which derivatives were contracted for. This effectiveness requirement assumes that the hedge must comply with a maximum range of deviation with respect to the initial objective of 80% to 125%.

In order to demonstrate the efficacy of hedges, two tests are to be carried out:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Forward-looking Test: it is demonstrated that, in the future,
the hedge will be within the aforementioned range of deviation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Retrospective Test: This test reviews if, in the past, from
its initial date to now, the hedge has been maintained within the allowed range of deviation.

In the cases of Fair Value Hedges and the Cash Flow Hedges, they are retrospective and forward-looking efficient and within the allowed maximum range of deviation.

B. Reference Variables

The most relevant reference variables are:

Exchange Rates

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 107 |

---

Interest Rates

Equity

Baskets of equities and stock indexes.

C. Frequency of valuation

Derivative financial instruments for trading and hedging purposes are valued on a daily basis.

**Management of internal and external sources of liquidity that may be used for the compliance of requirements related to derivative financial instruments.**

Resources are obtained via the National and International Treasury departments.

**Changes in exposure to identified risks, contingencies and events, known or expected, in derivative financial instruments.** 

At the end of the quarter of 2016, Banco Santander has no situation or contingency such as changes in the value of the underlying asset or the reference variables, that may cause the use of the derivative financial instruments to be different to their original intended use, a significant change in their scheme or the total or partial loss of the hedge, requiring the Issuer to assume new obligations, commitments or variations in its cash flow or affecting its liquidity (day trade calls), nor contingencies or events known or expected by the Management that may affect future reports.

During the fourth quarter of 2022, the number or expired derivative financial instruments and closed positions was as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Summary of Derivative Financial Instruments** | **Summary of Derivative Financial Instruments** | **Summary of Derivative Financial Instruments** | **Summary of Derivative Financial Instruments** | **Summary of Derivative Financial Instruments** | **Summary of Derivative Financial Instruments** |
| **Million Pesos as of December 31<sup>st</sup>, 2022** | **Million Pesos as of December 31<sup>st</sup>, 2022** | **Million Pesos as of December 31<sup>st</sup>, 2022** | **Million Pesos as of December 31<sup>st</sup>, 2022** | **Million Pesos as of December 31<sup>st</sup>, 2022** | **Million Pesos as of December 31<sup>st</sup>, 2022** |
| **Derivatives** | **Underlying Asset** | **Purposes trading or hedging** | **Notional** | **Fair Value** | **Fair Value** |
| **Derivatives** | **Underlying Asset** | **Purposes trading or hedging** | **Notional** | **Current Quarter** | **Previous Quarter** |
| **Derivatives** | **Underlying Asset** | **Purposes trading or hedging** | **Notional** | **Current Quarter** | **Previous Quarter** |
| Forwards | Foreign Currency | Trading | 392299 | 1792 | 712 |
| Forwards | Equity | Trading | 0 | 0 | 0 |
| Futures | Foreign Currency | Trading | 63225 | 0 | 0 |
| Futures | Market Index | Trading | 127 | 0 | 0 |
| Options | Equity | Trading | 8287 | (1579) | (1701) |
| Options | Foreign Currency | Trading | 195458 | 32 | (190) |
| Options | Market Index | Trading | 110 | 7 | 0 |
| Options | Interest Rate | Trading | 170986 | (644) | (603) |
| Swaps | Cross Currency | Trading | 1003424 | 4110 | 3744 |
| Swaps | Interest Rate | Trading | 7706954 | (5718) | (5349) |
| Swaps | Equity | Trading | 450 | (479) | (328) |
| Forwards | Foreign Currency | Hedging | 49778 | 4130 | 3242 |
| Swaps | Cross Currency | Hedging | 29991 | (1035) | 4021 |
| Swaps | Interest Rate | Hedging | 128532 | 2572 | 5285 |

---

Santander México, at the execution of transactions of OTC derivative financial instruments, has Collateral formalized agreements with many of its counterparties, which function as market value guarantee of the derivative transactions, and it is determined based on the exposure of the net position on risk with each opposing party. The managed Collateral consists mainly in cash deposits, whereat there is not a deterioration situation.

During the fourth quarter of 2022, there have been no derivatives which underlying assets are investments in proprietary shares or stock certificates that represent them.

During the fourth quarter of 2022, the number or expired derivative financial instruments and closed positions was as follows:

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 108 |

---

---

| | | |
|:---|:---|:---|
| **Description** | **Maturities** | **Closed Positions** |
| CAPS AND FLOORS | 1183 | 12 |
| EQUITY FORWARD | 0 | 0 |
| OTC EQ | 47 | 13 |
| OTC FX | 2136 | 510 |
| SWAPTIONS | 0 | 0 |
| FX FORWARD | 30864 | 91 |
| IRS | 1744 | 130 |
| CCS | 221 | 103 |
| EQUITY SWAP | 0 | 0 |

---

The amount of day trade calls performed during the quarter was the necessary for covering contributions to organized markets and the requirements in collateral agreements.

During the fourth quarter of 2022, there were no defaults by counterparties.

***Sensitivity Analysis***

**Identification of Risks** 

Sensitivity measures of market risk associated with securities and derivative financial instruments are those that measure the change (sensitivity) of the market value of the financial instrument concerned, when changes in each of the risk factors associated with same occur.

The sensitivity of the value of a financial instrument when changes in market factors occur and is determined by the full instrument revaluation.

The sensitivities are detailed below according to each risk factor and associated historical consumption of the trading book.

The management strategy of the organization is integrated with security positions and derivatives. The latter are used largely to mitigate the market risk of the second. In view of the above, the sensitivities or exposures as described below are both types of instruments considered as a whole.

**1. Sensitivity to risk factor "Equity ("Delta EQ")"**

The EQ Delta shows the change in the portfolio's value in relation to changes in the prices of equities.

The EQ Delta calculated for the case of derivative financial instruments considered the relative change of 1% in the prices of the underlying assets in equities, in the case of equities, this considers the relative variation of 1% of market price title.

**2. Sensitivity to risk factor "Foreign Exchange", ("Delta FX")**

The FX Delta shows the change in the portfolio's value in relation to changes in asset prices exchange rate.

The FX Delta calculated for the case of derivative financial instruments considered the relative change of 1% in the prices of the underlying assets of the exchange rate, In the case of currency positions, this considers the relative variation of 1%of the corresponding exchange rate.

**3. Sensitivity to risk factor "Volatility" ("Vega")**

Vega sensitivity is the measure resulting from changes in the volatility of the underlying asset (the reference asset). Vega risk is the risk that a change in the volatility of the underlying asset value, that results in a change in the market value of the derivative.

The calculation of Vega sensitivity, considers the absolute change of 1% in the volatility of the underlying asset value.

**4. Sensitivity to risk factors "Interest Rate" ("Rho")**

This sensitivity quantifies the change in value of financial instruments for the trading portfolio in the face of a parallel increase in the interest rate curves of a basis point.

The table below presents the sensitivities described above corresponding to the position of the trading portfolio, as of the end of the fourth quarter of 2022:

---

| | | |
|:---|:---|:---|
| **Sensitivity Analysis** | **Sensitivity Analysis** | **Sensitivity Analysis** |
| **Million pesos** | **Million pesos** | **Million pesos** |
| **Total Rate Sensitivity** | **Total Rate Sensitivity** |  |
|  | **Pesos** | **Other Currencies** |
| **Sens. a 1 Bp** | (0.01) | (1.31) |

---

---

| | | | |
|:---|:---|:---|:---|
| **Vega Risk factor** | **Vega Risk factor** |  |  |
|  | **EQ** | **FX** | **IR** |
| **Total** | 0.17 | 12.99 | (0.29) |
| **Delta Risk Factor (EQ and FX)** | **Delta Risk Factor (EQ and FX)** |  |  |
|  | **EQ** | **FX** |  |
| **Total** | 0.33 | 1.16 |  |

---

It is considered that the above sensitivity table reflects prudent management of the trading portfolio of Banco Santander with respect to risk factors.

**Stress Test for Derivative Financial Instruments** 

The following are various stress test scenarios considering various scenarios calculated for the trading portfolio of Banco Santander.

&nbsp;&nbsp;&nbsp;&nbsp;· **Probable scenario** 

This scenario was defined based in the movements derived from a standard deviation, with respect to risk factors that have an influence over the valuation of financial instruments. Specifically:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Risk factors of Interest Rate ("IR"), volatility ("Vol") and rate of Exchange
("FX") were incremented in a standard deviation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Risk factors with respect to stock market ("EQ") were decreased in a standard deviation.

&nbsp;&nbsp;&nbsp;&nbsp;· **Possible scenario** 

Under this scenario, as requested in the official letter, risk factors were modified in 25%. Specifically:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Risk factors: IR, Vol and FX were multiplied by 1.25 that means, they were incremented in 25%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Risk factor EQ was multiplied by 0.75 that means, it was decreased in 25%.

&nbsp;&nbsp;&nbsp;&nbsp;· **Remote scenario** 

Under this scenario, as requested in the official letter, risk factors were modified in 50%. Specifically:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Risk factors IR, Vol and FX are multiplied by 1.50, that is, they were incremented in 50%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Risk factor EQ was multiplied by 0.5, that is, it was decreased a 50%.

**Effect in the Income Statement** 

The following table shows the possible income (loss) for the trading portfolio of Banco Santander, in millions of Mexican pesos for each stress scenario, as of the end of the fourth quarter of 2022:

---

| | |
|:---|:---|
| **Summary of Stress Test** | **Summary of Stress Test** |
| Million pesos | Million pesos |
| **Risk Profile** | **Stress all factors** |
| Probable scenario | (14) |
| Remote scenario | (404) |
| Possible scenario | (223) |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 109 |

---

24. Disclosure of the Liquidity Coverage Ratio

**24. Disclosure of the Liquidity Coverage Ratio** 

On August 23, 2021, the Commission and the Central Bank of Mexico published in the Federal Official Gazette, the General Provisions on Liquidity Requirements for multiple banking institutions, which establish liquidity requirements that credit institutions must comply at all times in accordance with the guidelines established by the Committee on Regulation of Bank Liquidity at its meeting held on October 17th, 2014 and June 14 th, 2018.

These regulations came into effect on March 1<sup>st</sup>, 2022.

During the fourth quarter of 2022, the weighted average CCL for the Bank is 181.17%, complying with the Bank´s desired Risk Profile and well above the regulatory minimum established in the regulations.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Single Calculation** | **Single Calculation** | **Consolidated Calculation** | **Consolidated Calculation** |
| **Million pesos** | **Million pesos** | **Amount unweighted (average)** | **Weighted amount (average)** | **Amount unweighted (average)** | **Weighted amount (average)** |
| **Liquidity Assets** | **Liquidity Assets** | **Liquidity Assets** | **Liquidity Assets** | **Liquidity Assets** | **Liquidity Assets** |
| 1 | Total high-quality liquid assets | &nbsp;&nbsp;&nbsp;&nbsp;Not applicable | 245722 | &nbsp;&nbsp;&nbsp;&nbsp;Not applicable | 245722 |
| **Cash Outflows** | **Cash Outflows** | **Cash Outflows** | **Cash Outflows** | **Cash Outflows** | **Cash Outflows** |
| 2 | Unsecured retail financing | 308713 | 17459 | 308713 | 17459 |
| 3 | Stable funding | 268255 | 13413 | 268255 | 13413 |
| 4 | Less stable funding | 40459 | 4046 | 40459 | 4046 |
| 5 | Unsecured wholesale funding | 444010 | 170584 | 444010 | 170584 |
| 6 | Operational deposits | 239736 | 55670 | 239736 | 55670 |
| 7 | Non-operational deposits | 157737 | 68375 | 157737 | 68375 |
| 8 | Unsecured debt | 46538 | 46538 | 46538 | 46538 |
| 9 | Secured wholesale funding | &nbsp;&nbsp;&nbsp;&nbsp;Not applicable | 537 | &nbsp;&nbsp;&nbsp;&nbsp;Not applicable | 537 |
| 10 | Additional requirements: | 108481 | 18218 | 242118 | 24878 |
| 11 | Outflows related to derivatives exposures and other collateral requirements | 37746 | 13399 | 37746 | 13399 |
| 12 | Outflows related to loss of funding on debt products | 0 | 0 | 0 | 0 |
| 13 | Credit and liquidity facilities | 70734 | 4819 | 204372 | 11478 |
| 14 | Other contractual funding obligations | 102116 | 360 | 102116 | 360 |
| 15 | Other contingent funding obligations | 11335 | 11335 | 11961 | 11961 |
| **16** | **Total Cash Out** | **Not applicable** | **218492** | **Not applicable** | **225777** |
| **Cash Inflows** | **Cash Inflows** | **Cash Inflows** | **Cash Inflows** | **Cash Inflows** | **Cash Inflows** |
| 17 | Cash inflows secured transactions | 151521 | 1681 | 151521 | 1681 |
| 18 | Cash inflows from operations unsecured | 139623 | 108168 | 112898 | 79401 |
| 19 | Other cash inflows | 7079 | 7079 | 7079 | 7079 |
| **20** | **Total Cash Inflows** | **298222** | **116928** | **271497** | **88161** |
| **Total adjusted value** | **Total adjusted value** | **Total adjusted value** | **Total adjusted value** | **Total adjusted value** | **Total adjusted value** |
| **21** | **Total of Eligible Liquid Assets** | **Not applicable** | **245722** | **Not applicable** | **245722** |
| **22** | **Total Net Cash Out** | **Not applicable** | **102728** | **Not applicable** | **137616** |
| **23** | **Liquidity Coverage Ratio** | **Not applicable** | **287.46%** | **Not applicable** | **181.17%** |

---

*The presented numbers are subject to review and therefore they might suffer changes.*

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 110 |

---

**Notes related to the Liquidity Coverage Ratio**

a) Natural days contemplated in the quarterly report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· 92 days.

b) Main causes of the results of the Liquidity Coverage Ratio and
the evolution of its main components.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· During the fourth quarter, there was a marginal variation in the ratio, where we observed a change in the Deposit mix during the quarter, as well as an increase in the balance of Accounts in Other Banks.

c) Changes of major components within the quarter report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· During the fourth quarter, there was a marginal variation in the ratio, where we observed a change in the Deposit mix during the quarter, as well as an increase in the balance of Accounts in Other Banks.

d) Evolution of the composition of the Eligible and Computable
Liquid Assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The Bank has a significant proportion of liquid assets comprised by government debt, deposits in Bank of Mexico and cash.

e) Concentration of funding sources.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The main sources of funding are diversified by its own nature as: (i) demand deposits; (ii) term deposits, which include retail deposits and the money market (promissory notes with interest payable at maturity), and (iii) repurchase agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· In addition, the Bank has registered programs for local market´s debt issuances and has experience issuing in international markets.

f) Exposures in financial derivative instruments and possible margin
calls.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Performed analyses don't show any significant vulnerabilities coming from financial derivative instruments.

g) Currency mismatch.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Performed analyses don't show any significant vulnerability in Currency mismatch.

h) Description of the level of centralization of liquidity management
and interaction between the units of the group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Banco Santander Mexico is autonomous in terms of liquidity and capital; it develops its financial plans, liquidity forecast, and analyzes funding requirements for all its subsidiaries. The Bank is responsible for its own "ratings", its issuance program, "road shows", and any other activities to keep its ability to access capital markets. The issuance activity is performed without having the guarantee of the parent company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The liquidity management of all Bank subsidiaries is centralized.

i) Cash flows and Inflows, if any, that are not captured in this
framework, but the institution considers relevant to the liquidity profile.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The Liquidity Coverage Ratio considers only the inflows and outflows up to 30 days, however the flows that are not contained in the metric are well managed and controlled by the Group.

j) The Coefficient impact of the incorporation of the Entities
Subject to Consolidation, as well as the outflows derived from financial support for entities and societies that are part of the same
financial group, consortium or business group that, in accordance with the Policies and Criteria, the institution's board of directors
has authorized to grant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The CCL does not suffer an impact meanwhile the entities that could generate some liquidity requirement were already included in the calculation and no additional entities were identified that could generate an additional impact on liquidity.

**Additional notes for the previous quarter**

**I. Quantitative information:**

a) The concentration limits for different groups of guarantees
received and major sources of financing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The Bank has no concentration limits under guarantees received by market operations, as they are mainly composed of government securities and cash.

b) Exposure to liquidity risk and funding needs of the institution,
taking into account the legal, regulatory and operational constraints on liquidity transfers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Liquidity risk is associated with our capacity to finance the commitments we undertake at reasonable prices, as well as maintaining our ability to carry out our business plans using stable financing sources. Factors that influence liquidity risk may be external, such as a liquidity crisis, or internal, such as an excessive concentration of maturities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The measures used to control liquidity risk in balance sheet management are the liquidity gap, liquidity ratios, stress scenarios and liquidity horizons.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The liquidity horizons metric has been defined to ensure that the Group has sufficient liquid assets to comply with its requirements during a certain period of time, given different stress scenarios. The Group set a 90-day survival horizon for local

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 111 |

---

currency and consolidated balance and a 30-day survival horizon for foreign currency. During the 3Q22, the balance remained above the established limits, and therefore we maintained a sufficient liquidity buffer.

---

| | | |
|:---|:---|:---|
| 30/09/2022 | Term | Amount |
| **Million pesos** |  | Ps. |
| Consolidated | 90 days | 195569 |
| Local Currency | 90 days | 43033 |
| Foreign Currency | 30 days | 153,618 |

---

c) Balance sheet maturity liquidity gap including off balance sheet accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The table below shows the liquidity gap of our assets and liabilities using maturity dates as of September 30, 2022. The reported amounts include cash flows from interest on fixed and variable rate instruments. The interest on variable rate instruments is determined using the forward interest rates for each period presented.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Million pesos** | **Total** | **0-1** | **1-3 months** | **3-6 months** | **6-12 months** | **3-5 years** | **Not** |
| **Million pesos** | **Total** | **month** | **1-3 months** | **3-6 months** | **6-12 months** | **3-5 years** | **Sensitive** |
| Money Market | 275273 | 33699 | 0 | 0 | 0 | 0 | 241574 |
| Loans | 1152977 | 74498 | 119765 | 92724 | 131952 | 146288 | 32008 |
| Trade Finance | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intragroup | 3256 | 0 | 0 | 0 | 0 | 0 | 3256 |
| Securities | 569376 | 16245 | 37931 | 47925 | 10567 | 157481 | 132799 |
| Permanent | 11141 | 0 | 0 | 0 | 0 | 0 | 11141 |
| Other Balance Sheet Assets | 2880097 | 0 | 0 | 0 | 0 | 0 | 2880097 |
| **Total Balance Sheet Assets** | 4892121 | 124442 | 157696 | 140649 | 142519 | 303769 | 3300875 |
| Money Market | (385643) | (155621) | (528) | 0 | 0 | 0 | (229494) |
| Deposits | (789950) | (218843) | (28415) | (24094) | (23911) | (54868) | 0 |
| Trade Finance | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intragroup | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Funding | (245078) | (5169) | (26640) | (20891) | (27908) | (43778) | (29019) |
| Equity | (161514) | 0 | 0 | 0 | 0 | 0 | (161514) |
| Other Balance Sheet Liabilities | (2851127) | 0 | 0 | 0 | 0 | 0 | (2851127) |
| **Total Balance Sheet Liabilities** | (4433312) | (379633) | (55583) | (44985) | (51819) | (98646) | (3271154) |
| **Total Balance Sheet Gap** | 458809 | (255191) | 102112 | 95664 | 90700 | 205123 | 29721 |
| **Total Off-Balance Sheet Gap** | 13711 | (20766) | 5358 | 1014 | 3010 | 534 | 10397 |
| **Total Structural Gap** |  | (283953) | 106982 | 95921 | 91944 | 205657 | 51452 |
| **Accumulated Gap** |  | (461023) | (176971) | (81049) | (27982) | 516697 | 472520 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 112 |

---

**II. Qualitative information:**

&nbsp;&nbsp;&nbsp;&nbsp;a) The way in which liquidity risk is managed within the institution, considering the risk tolerance, the
structure and responsibilities for managing liquidity risk, internal liquidity reports, the liquidity risk strategy, policies and practices
across business lines and with the board of directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Our general policy regarding liquidity management seeks to ensure that even under adverse conditions, we have enough liquidity to fulfill client needs, maturing liabilities and working capital requirements. The Bank ´s liquidity management is based on analyses of asset and liability maturities, using contractual and management models.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The Financial Management Area is responsible for executing the strategies and policies established by ALCO in order to modify the risk profile of the Bank, within the limits established by the CAIR who reports to the Board.

&nbsp;&nbsp;&nbsp;&nbsp;b) Financing strategy, including diversification policies, and whether the funding strategy is centralized
or decentralized.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Annually the Financial Plan for the Bank is prepared considering: the projected business growth, the debt maturity profile, risk appetite, expected market conditions, the implementation of diversification policies and regulatory metrics and the analysis of the liquidity buffer. The Financial Plan is the guide used to issue debt or contract term liabilities and aims to maintain adequate liquidity profile.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The funding strategy of all subsidiaries is centralized.

&nbsp;&nbsp;&nbsp;&nbsp;c) Mitigation techniques of liquidity risk used by the institution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The risk mitigation techniques in the Group have
a proactive nature. The Financial Plan in addition to the projection exercises and stress test scenarios allows us to anticipate risks
and implement measures to ensure that the liquidity profile is adequate.

&nbsp;&nbsp;&nbsp;&nbsp;d) Explanation of how the stress tests are used.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The Liquidity Stress Test is a Risk Management
tool designed to warn the governing committees and areas responsible for making decisions in this area about the potential adverse effects
of the liquidity risk the Institution is exposed to.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The results of these stress tests aim to identify
the impacts prospectively in order to improve planning processes, and help align and calibrate Risk Appetite, Exposure Limits and Levels
of Liquidity Risk tolerance.

&nbsp;&nbsp;&nbsp;&nbsp;e) Description of contingent financing plans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The plan includes the following
elements: type and business model as the starting point. Early Warning Indicators to identify in a timely manner the increase in liquidity
risk and the elements that define the crisis scenarios used. Additionally, we measure the liquidity shortages that stress scenarios could
produce and the available actions considered by the plan to restore liquidity conditions. Actions are prioritized in order to preserve
the value of the entity and the stability of the markets. A key aspect of the Plan is the governance process, stating the areas responsible
for the different stages involved: activation, execution, communication and maintenance of the Plan.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 113 |

---

**24a. Disclosure of the Net Stable Funding Ratio**

On August 23, 2021, the Commission and the Central Bank of Mexico published in the Federal Official Gazette, the General Provisions on Liquidity Requirements for multiple banking institutions, which establish liquidity requirements that credit institutions must comply at all times in accordance with the guidelines established by the Committee on Regulation of Bank Liquidity at its meeting held on October 17th, 2014 and June 14 th, 2018.

These regulations came into effect on March 1st, 2022.

During the fourth quarter of 2022, the CFEN for the Bank is 110.21%, complying with the Bank´s desired Risk Profile and well above the regulatory minimum established in the regulations.

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Single Calculation** | **Single Calculation** | **Single Calculation** | **Single Calculation** | **Single Calculation** | **Consolidated Calculation** | **Consolidated Calculation** | **Consolidated Calculation** | **Consolidated Calculation** | **Consolidated Calculation** |
| **Million pesos** | **Million pesos** | **Unweighted Amount by residual term** | **Unweighted Amount by residual term** | **Unweighted Amount by residual term** | **Unweighted Amount by residual term** | **Weighted Amount** | **Unweighted Amount by residual term** | **Unweighted Amount by residual term** | **Unweighted Amount by residual term** | **Unweighted Amount by residual term** | **Weighted Amount** |
| **Million pesos** | **Million pesos** | **Without maturity** | **< 6 months** | **From 6 months to < 1 year** | **>1 year** | **Weighted Amount** | **Without maturity** | **< 6 months** | **From 6 months to < 1 year** | **>1 year** | **Weighted Amount** |
| **ELEMENTS AMOUNT OF STABLE FINANCING AVAILABLE** | **ELEMENTS AMOUNT OF STABLE FINANCING AVAILABLE** | **ELEMENTS AMOUNT OF STABLE FINANCING AVAILABLE** | **ELEMENTS AMOUNT OF STABLE FINANCING AVAILABLE** | **ELEMENTS AMOUNT OF STABLE FINANCING AVAILABLE** | **ELEMENTS AMOUNT OF STABLE FINANCING AVAILABLE** | **ELEMENTS AMOUNT OF STABLE FINANCING AVAILABLE** | **ELEMENTS AMOUNT OF STABLE FINANCING AVAILABLE** | **ELEMENTS AMOUNT OF STABLE FINANCING AVAILABLE** | **ELEMENTS AMOUNT OF STABLE FINANCING AVAILABLE** | **ELEMENTS AMOUNT OF STABLE FINANCING AVAILABLE** | **ELEMENTS AMOUNT OF STABLE FINANCING AVAILABLE** |
| **1** | Capital | 176880 | - | - | - | 176880 | 176880 | - | - | - | 176880 |
| **2** | Fundamental Capital and non-fundamental basic Capital. | 176880 | - | - | - | 176880 | 176880 | - | - | - | 176880 |
| **3** | Other Capital instruments. | - | - | - | - | - | - | - | - | - | - |
| **4** | Retail Deposits | - | 356508 | 4938 | 86 | 340744 | - | 356508 | 4938 | 86 | 340744 |
| **5** | Stable Deposits. | - | 303646 | 3499 | 65 | 291853 | - | 303646 | 3499 | 65 | 291853 |
| **6** | Less Stable Deposits. | - | 52862 | 1438 | 21 | 48891 | - | 52862 | 1438 | 21 | 48891 |
| **7** | Wholesale Financing | - | 824656 | 20354 | 83219 | 334980 | - | 824656 | 20354 | 83219 | 334980 |
| **8** | Operational Deposits. | - | 12267 | - | - | 6133 | - | 12267 | - | - | 6133 |
| **9** | Other Wholesale Financing. | - | 812389 | 20354 | 83219 | 328847 | - | 812389 | 20354 | 83219 | 328847 |
| **10** | Interdependent Liabilities | - | - | - | - | - | - | - | - | - | - |
| **11** | Other Liabilities | - | 109497 | 109497 | 109497 | 25644 | - | 112868 | 112868 | 112868 | 25644 |
| **12** | Derivative Liabilities for purposes of the Net Stable Funding Ratio | Not applicable | - | - | - | Not applicable | Not applicable | - | - | - | Not applicable |
| **13** | All Liabilities and own resources not included in the previous categories. | - | 83853 | - | 25644 | 25644 | - | 87224 | - | 25644 | 25644 |
| **14** | Total Amount of Stable Financing Available | Not applicable | Not applicable | Not applicable | Not applicable | 878248 | Not applicable | Not applicable | Not applicable | Not applicable | 878248 |
| **ELEMENTS AMOUNT OF STABLE FINANCING REQUIRED** | **ELEMENTS AMOUNT OF STABLE FINANCING REQUIRED** | **ELEMENTS AMOUNT OF STABLE FINANCING REQUIRED** | **ELEMENTS AMOUNT OF STABLE FINANCING REQUIRED** | **ELEMENTS AMOUNT OF STABLE FINANCING REQUIRED** | **ELEMENTS AMOUNT OF STABLE FINANCING REQUIRED** | **ELEMENTS AMOUNT OF STABLE FINANCING REQUIRED** | **ELEMENTS AMOUNT OF STABLE FINANCING REQUIRED** | **ELEMENTS AMOUNT OF STABLE FINANCING REQUIRED** | **ELEMENTS AMOUNT OF STABLE FINANCING REQUIRED** | **ELEMENTS AMOUNT OF STABLE FINANCING REQUIRED** | **ELEMENTS AMOUNT OF STABLE FINANCING REQUIRED** |
| **15** | Total eligible Liquid Assets for purposes of the Net Stable Funding Ratio. | Not applicable | Not applicable | Not applicable | Not applicable | 26548 | Not applicable | Not applicable | Not applicable | Not applicable | 26548 |
| **16** | Deposits in other Financial Institutions for Operational purposes. | - | 235 | - | - | 117 | - | 235 | - | - | 117 |
| **17** | Current Loans and Securities | 4300 | 459747 | 83874 | 422046 | 519566 | 4300 | 418374 | 108182 | 480296 | 584415 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 114 |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **18** | Guaranteed financing granted to Financial Entities with Liquid Assets eligible for Level I. | - | 177558 | - | - | 17756 | - | 177558 | - | - | 17756 |
| **19** | Guaranteed financing granted to Financial Entities with eligible liquid assets other than level I. | - | 78470 | 2236 | 3763 | 16651 | - | 10276 | 2239 | 3786 | 6447 |
| **20** | Guaranteed financing granted to Counterparties other than Financial Entities, which | - | 186756 | 75872 | 208331 | 299833 | - | 213577 | 100178 | 266558 | 374887 |
| **21** | They have a Credit Risk weight of less than or equal to 35% according to the Basel II Standard Method for Credit Risk. | - | 40825 | 19045 | 42810 | 57762 | - | 40827 | 19048 | 42822 | 57772 |
| **22** | Mortgage Loans (current), of which | - | 7463 | 5766 | 187827 | 158114 | - | 7463 | 5766 | 187827 | 158114 |
| **23** | They have a Credit Risk weight of less than or equal to 35% according to the Standard Method established in the Provisions. | - | 1236 | 948 | 40765 | 27589 | - | 1236 | 948 | 40765 | 27589 |
| **24** | Debt securities and shares other than Eligible Liquid Assets (that are not in default). | 4300 | 9501 | - | 22125 | 27212 | 4300 | 9501 | - | 22125 | 27212 |
| **25** | Interdependent Assets. | - | - | - | - | - | - | - | - | - | - |
| **26** | Other Assets | 131122 | 144331 | 144331 | 144331 | 161944 | 138544 | 146146 | 146146 | 146146 | 171160 |
| **27** | Physically traded basic raw materials (Commodities), including Gold. | - | Not applicable | Not applicable | Not applicable | - | - | Not applicable | Not applicable | Not applicable | - |
| **28** | Initial margin granted in transactions with derivative financial instruments and contributions to the loss absorption fund of central counterparties | Not applicable | 4414 | 4414 | 4414 | 3752 | Not applicable | 4414 | 4414 | 4414 | 3752 |
| **29** | Derivative Assets for purposes of the Net Stable Funding Ratio. | Not applicable | - | - | - | - | Not applicable | - | - | - | - |
| **30** | Derivative Liabilities for Net Stable Funding Ratio purposes before deduction for initial margin variation | Not applicable | - | - | - | 2362 | Not applicable | - | - | - | 2362 |
| **31** | All assets and operations not included in the previous categories. | 131122 | 103581 | 3424 | 32912 | 155830 | 138544 | 103617 | 3786 | 34329 | 165046 |
| **32** | Off-balance sheet transactions. | Not applicable | 169976 | 169976 | 169976 | 8499 | Not applicable | 306163 | 306163 | 306163 | 15308 |
| **33** | Total Amount of Stable Financing Required. | Not applicable | Not applicable | Not applicable | Not applicable | 716674 | Not applicable | Not applicable | Not applicable | Not applicable | 797549 |
| **34** | Net Stable Funding Ratio (%). | Not applicable | Not applicable | Not applicable | Not applicable | 122.66% | Not applicable | Not applicable | Not applicable | Not applicable | 110.21% |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 115 |

---

*The presented numbers are subject to review and therefore they might suffer changes.*

**Notes related to the Net Stable Funding Ratio** 

a) Main causes of the results of the Net Stable Funding Ratio and the evolution of its main components;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· During the fourth quarter, it was observed that
the coefficient increases driven by an improvement in the Commercial Gap.

b) Changes of major components within the quarter report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· During the fourth quarter, it was observed that
the coefficient increases driven by an improvement in the Commercial Gap.

c) Evolution of the composition of Amount of Stable Financing Available and Amount of Stable Financing Required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The Stable Financing Required has shown growth
in recent months due to the reactivation of the Loan Portfolio, which has mostly been funded with Issues, and an increase in Deposits.

d) The Net Stable Funding Ratio impact of the incorporation of the Entities Subject to Consolidation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The Net Stable Funding Ratio does not suffer an
impact meanwhile the entities that could generate some liquidity requirement were already included in the calculation and no additional
entities were identified that could generate an additional impact on liquidity.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 116 |

---

25. Implementation of effective interest rate in 2022

**25. Implementation of effective interest rate in 2022**

According the provisions of the Eleventh Transitory Article of the Resolution that amending the General Provisions applicable to Credit Institutions published on September 23rd, 2021 in the Federal Official Gazette, the Bank opted, in determining the cost amortized referred to in accounting criterion B-6 "Loan Portfolio", to continue using the contractual interest rate, as well as the straight-line method for recognizing the accrued interest on its loan portfolio. The Commissions collected and transaction costs during fiscal year 2022, as indicated in accounting criteria B-6 "Loan Portfolio" valid until December 31st, 2021.

The foregoing was notified in writing to the Vice Presidency of Supervision of Financial Groups and Intermediaries A of the Mexican National Banking and Securities Commission on December 16th, 2021 and with a scope dated April 5th, 2022. These notification documents explained in detail the reasons why the Bank is not in a position to apply the aforementioned effective interest rate during fiscal year 2022, together with the program for its implementation.

It is important to highlight that the Administration analyzed and determined that the difference between the recognition of the amortization of the commissions charged for the granting of the loan and the transaction costs during the life of the loan using the effective interest rate as indicated in the accounting criteria B-6 "Loan Portfolio" has little relative importance with respect to recognition using the straight-line method for these same concepts, as indicated in accounting criteria B-6 "Loan Portfolio" valid until December 31st, 2021. The foregoing taking into account the provisions of the Financial Information Standard (NIF) A-1 "Structure of Information Standards" and NIF A-4 "Qualitative Characteristics of Financial Statements" issued by the Mexican Council of Financial Information Standards , A.C. (CINIF) in the preparation and presentation of the Bank's financial statements.

**26. Underlying Assets**

**General data and stock market information**

Each of the Series of this issue may be related, individually or jointly, pursuant to the provisions of the fourth paragraph of article 66 of the Mexican Exchange Law, to any of the following securities for which, during the last three years and up to date, no material suspensions have occurred in their trading.

The Issuer shall publish on to monthly basis at the Internet site https://www.santander.com.mx/personas/regulacion/titulos.html ,the information regarding the behavior of the Underlying Assets of the Series in effect.

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 117 |

---

**Indexes**

---

| | |
|:---|:---|
| **Index** | **Ticker Symbol** |
| Eurostoxx 50 | SX5E |

---

**i) Eurostoxx 50**

**Description** 

Eurostoxx 50 is a stock index of the European zone designed by Stoxx Ltd, an index supplier of Deutsche Böese and SIX Group. Its goal is to provide a "blue chip" representation of the leaders of the European zone.

**Methodology** 

The index universe is defined as all the components of the 19 Euro Stoxx indexes of the supersector. The components stocks are ranked regarding the shares outstanding. The more floating shares are added to the selection list until the coverage is closed, but without not exceeding 60% of the free floatation from the Total Euro Stoxx Market Index (TMI). If the following ordered stocks have a coverage of nearly 60% in absolute terms, then they will be added to the selected list.

Any remaining stock that is an actual component of the index is added to the selection list.

The listed stocks are ordered from the highest to the lowest. The actions in the list are ordered from highest to lowest shares. In exceptional cases, the Oversight Committee may add or remove stocks to the list.

Selection of the shares:

• The 40 stocks with more outstanding shares in the selection list are chosen as components.<br> • Any remaining component of the Euro Stoxx 50 index place between 41 and 60 is added as index component<br> • If the number of components is still less than 50 , then the actions with the highest number of shares outstanding are added to make 50 shares.

**Frequency of Review**<br> The index composition is reviewed annually in September. The components are monitored monthly.

**Weighting** <br> The index is weighted by market capitalization of free float. The weight of each component is capped to 10% of the free float market. Free float weights are reviewed quarterly.

Here the list of values in the sample:

---

| | | | |
|:---|:---|:---|:---|
| **Ticker** | **Name** | **Ticker** | **Name** |
| OR FP Equity | L'Oreal SA | ISP IM Equity | Intesa Sanpaolo SpA |
| DG FP Equity | Vinci SA | ENI IM Equity | Eni SpA |
| BBVA SQ Equity | Banco Bilbao Vizcaya Argentaria SA | ABI BB Equity | Anheuser-Busch InBev SA/NV |
| ASML NA Equity | ASML Holding NV | ADYEN NA Equity | Adyen NV |
| SAN SQ Equity | Banco Santander SA | SAN FP Equity | Sanofi |
| PHIA NA Equity | Koninklijke Philips NV | ENEL IM Equity | Enel SpA |
| TTE FP Equity | TotalEnergies SE | SU FP Equity | Schneider Electric SE |
| AI FP Equity | Air Liquide SA | ALV GY Equity | Allianz SE |
| CS FP Equity | AXA SA | AIR FP Equity | Airbus SE |
| BNP FP Equity | BNP Paribas SA | BAYN GY Equity | Bayer AG |
| BN FP Equity | Danone SA | BMW GY Equity | Bayerische Motoren Werke AG |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 118 |

---

---

| | | | |
|:---|:---|:---|:---|
| EL FP Equity | EssilorLuxottica SA | CRH ID Equity | CRH PLC |
| MC FP Equity | LVMH Moet Hennessy Louis Vuitton SE | BAS GY Equity | BASF SE |
| KER FP Equity | Kering SA | SIE GY Equity | Siemens AG |
| SAF FP Equity | Safran SA | VOW3 GY Equity | Volkswagen AG |
| AD NA Equity | Koninklijke Ahold Delhaize NV | MUV2 GY Equity | Munich Re |
| IBE SQ Equity | Iberdrola SA | SAP GY Equity | SAP SE |
| RMS FP Equity | Hermes International | RI FP Equity | Pernod Ricard SA |
| INGA NA Equity | ING Groep NV | ADS GY Equity | adidas AG |
| STLA IM Equity | Stellantis NV | DTE GY Equity | Deutsche Telekom AG |
| LIN GY Equity | Linde PLC | DPW GY Equity | Deutsche Post AG |
| PRX NA Equity | Prosus NV | MBG GY Equity | Mercedes-Benz Group AG |
| ITX SQ Equity | Industria de Diseno Textil SA | IFX GY Equity | Infineon Technologies AG |
| KNEBV FH Equity | Kone Oyj | DB1 GY Equity | Deutsche Boerse AG |
| FLTR ID Equity | Flutter Entertainment PLC | VNA GY Equity | Vonovia SE |

---

For more information on this index regarding its background, main characteristics and the criteria for the selection of issuers, please visit www.stoxx.com

**Historical Evolution:**

*Comparison base: December 30, 2017*

---

| | | | |
|:---|:---|:---|:---|
| **Period** | **Minimum price** | **Maximum price** | **Average (securities)** |
| 2017 | 3503.96 | 3503.96 | 292359289.00 |
| 2018 | 2937.36 | 3672.29 | 495508357.82 |
| 2019 | 2954.66 | 3782.27 | 450435611.05 |
| 2020 | 2385.82 | 3865.18 | 518941433.31 |
| 2021 | 3481.44 | 4401.49 | 326130347.13 |
| 1st Sem. 2020 | 2385.82 | 3865.18 | 629402342.08 |
| 2nd Sem. 2020 | 2958.21 | 3581.37 | 409681186.58 |
| 1st Sem. 2021 | 3481.44 | 4158.14 | 338311281.07 |
| 2nd Sem. 2021 | 3928.53 | 4401.49 | 314148015.38 |
| 1st Sem. 2022 | 3427.91 | 4392.15 | 423421325.35 |
| July 2022 | 3359.83 | 3708.10 | 377078767.32 |
| August 2022 | 3517.25 | 3805.22 | 284238754.84 |
| September 2022 | 3279.04 | 3646.51 | 378371344.60 |
| October 2022 | 3318.20 | 3617.54 | 348872258.13 |
| November 2022 | 3593.18 | 3964.72 | 361790370.03 |
| December 2022 | 3793.62 | 3986.83 | 305088486.23 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 119 |

---

**Historical Volatility:**

Source of Information on Historic Evolution and Volatility: www.bloomberg.com.mx

**Quantitative examples that illustrate possible gains or losses** 

**SXE406R DC069**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 0.00 |
| 189.76 | 5.00 | Ps. 5.00 |
| 379.51 | 10.00 | Ps. 10.00 |
| 569.27 | 15.00 | Ps. 15.00 |
| 759.03 | 20.00 | Ps. 20.00 |
| 948.78 | 25.00 | Ps. 25.00 |
| 1138.54 | 30.00 | Ps. 30.00 |
| 1328.30 | 35.00 | Ps. 35.00 |
| 1518.05 | 40.00 | Ps. 40.00 |
| 1707.81 | 45.00 | Ps. 45.00 |
| 1897.57 | 50.00 | Ps. 50.00 |
| 2087.32 | 55.00 | Ps. 55.00 |
| 2277.08 | 60.00 | Ps. 60.00 |
| 2466.83 | 65.00 | Ps. 65.00 |
| 2656.59 | 70.00 | Ps. 70.00 |
| 2846.35 | 75.00 | Ps. 75.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 120 |

---

---

| | | |
|:---|:---|:---|
| 3036.10 | 80.00 | Ps. 80.00 |
| 3225.86 | 85.00 | Ps. 85.00 |
| 3415.62 | 90.00 | Ps. 90.00 |
| 3529.47 | 93.00 | Ps. 93.00 |
| 3605.37 | 95.00 | Ps. 95.00 |
| 3795.13 | 100.00 | Ps. 141.50 |
| 3833.08 | 101.00 | Ps. 141.50 |
| 3908.98 | 103.00 | Ps. 141.50 |
| 4098.74 | 108.00 | Ps. 141.50 |
| 4174.64 | 110.00 | Ps. 141.50 |
| 4364.40 | 115.00 | Ps. 141.50 |
| 4554.16 | 120.00 | Ps. 141.50 |
| 4933.67 | 130.00 | Ps. 141.50 |
| 5085.47 | 134.00 | Ps. 141.50 |
| 5275.23 | 139.00 | Ps. 141.50 |
| 5464.99 | 144.00 | Ps. 141.50 |
| 5654.74 | 149.00 | Ps. 141.50 |
| 5844.50 | 154.00 | Ps. 141.50 |
| 6034.26 | 159.00 | Ps. 141.50 |

---

**Shares** 

For more information regarding stocks, investors may consult the following Internet sites

www.bmv.com.mx

www.bloomberg.com

Bloomberg page does not constitute a part of the prospectus and consequently, the Commission did not review it.

Some Issuers have a Market Maker. The effect of the performance of the market maker is reflected as an increase in the levels of operation and an improvement in the bid-offer spread of the prices of the stocks of the corresponding Issuer.

---

| | |
|:---|:---|
| **Stock** | **Ticker** |
| ADOBE Inc. | ADBE \* |
| Amazon.com Inc | AMZN\* |
| Alibaba Group Holding Limited | BABA N |
| Citigroup Inc. | C \* |
| Salesforce, Inc. | CRM\* |
| Ishares China Large-CAP ETF | FXI \* |
| Alphabet Inc. | GOOGL\* |
| Ishares Biotechnology ETF | IBB \* |
| MercadoLibre Inc. | MELI \* |
| Meta Platforms, Inc. | META \* |
| NVIDIA Corporation | NVDA \* |
| Paypal Holdings, Inc. | PYP L\* |
| QUALCOMM INC. | QCOM \* |
| Invesco QQQ Trust | QQQ \* |
| ISHARES SEMICONDUCTOR ETF | SOXX \* |
| SPDR S&P 500 ETF Trust | SPY \* |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 121 |

---

---

| | |
|:---|:---|
| Tesla Inc. | TSLA |
| Energy Select Sector SPDR | XLE \* |
| Financial Select Sector SPDR | XLF \* |
| TECHNOLOGY SELECT SECTOR SPDR | XLK \* |

---

&nbsp;&nbsp;&nbsp;&nbsp;**(i)** **ADOBE Inc. (ADBE \*)** 

**Stock Market where it is quoted** 

NASDAQ

**Description:**

Adobe Inc. develops, commercialize, and supports software products and technologies. Its products allow users express and use information in all print and electronic media. Offers a line of software application products, font products, and content to create, distribute, and manage information.

**Historical Evolution:**

![](image_026.jpg)

*Comparison base: December 30th, 2017*

---

| | | | |
|:---|:---|:---|:---|
| **Period** | **Minimum price** | **Maximum price** | **Average (securities)** |
| 2017 | 175.24 | 175.24 | 1810263.00 |
| 2018 | 175.24 | 275.49 | 3375495.48 |
| 2019 | 215.70 | 331.20 | 2691140.37 |
| 2020 | 285.00 | 533.80 | 3108084.07 |
| 2021 | 421.20 | 688.37 | 2396435.33 |
| 1st Sem. 2020 | 285.00 | 440.55 | 3480350.00 |
| 2nd Sem. 2020 | 426.29 | 533.80 | 2739864.50 |
| 1st Sem. 2021 | 421.20 | 590.75 | 2517236.67 |
| 2nd Sem. 2021 | 549.77 | 688.37 | 2277603.59 |
| 1st Sem. 2022 | 360.79 | 567.06 | 3687528.85 |
| July 2022 | 368.48 | 410.12 | 2328352.84 |
| August 2022 | 373.44 | 451.02 | 2332511.39 |
| September 2022 | 275.20 | 396.36 | 5903677.83 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 122 |

---

October 2022 275.20 325.68 3,839,597.84 <br> November 2022 285.75 345.96 3,398,928.53 <br> <u>December 2022</u> <u>326.68</u> <u>344.11</u> <u>3,443,259.40</u>

**Historical volatility**![](image_027.jpg)

*Source of Information on Historic Evolution and Historical Volatility: www.bloomberg.com.mx*

**Quantitative examples that illustrate possible gains or losses** 

**ADB310L DC015**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Market price** | **Observed price** | **Observation dates 1 to 5** | **Observation dates 1 to 5** | **Observation date 6** |
|  | 0 | Ps. - | Ps. - | Ps. 50.00 |
| 23.00 | 5 | Ps. - | Ps. - | Ps. 50.00 |
| 46.01 | 10 | Ps. - | Ps. - | Ps. 50.00 |
| 69.01 | 15 | Ps. - | Ps. - | Ps. 50.00 |
| 92.01 | 20 | Ps. - | Ps. - | Ps. 50.00 |
| 115.02 | 25 | Ps. - | Ps. - | Ps. 50.00 |
| 138.02 | 30 | Ps. - | Ps. - | Ps. 50.00 |
| 161.02 | 35 | Ps. - | Ps. - | Ps. 50.00 |
| 184.02 | 40 | Ps. - | Ps. - | Ps. 50.00 |
| 207.03 | 45 | Ps. - | Ps. - | Ps. 50.00 |
| 230.03 | 50 | Ps. - | Ps. - | Ps. 50.00 |
| 253.03 | 55 | Ps. - | Ps. - | Ps. 55.00 |
| 276.04 | 60 | Ps. - | Ps. - | Ps. 60.00 |
| 299.04 | 65 | Ps. - | Ps. - | Ps. 65.00 |
| 322.04 | 70 | Ps. - | Ps. - | Ps. 100.00 |
| 345.05 | 75 | Ps. - | Ps. - | Ps. 100.00 |
| 368.05 | 80 | Ps. 3.30 | Ps. - | Ps. 103.30 |
| 391.05 | 85 | Ps. 3.30 | Ps. - | Ps. 103.30 |
| 414.05 | 90 | Ps. 3.30 | Ps. - | Ps. 103.30 |
| 437.06 | 95 | Ps. 3.30 | Ps. - | Ps. 103.30 |
| 460.06 | 100 | Ps. 3.30 | Ps. - | Ps. 103.30 |
| 483.06 | 105 | Ps. - | Ps. 103.30 | Ps. 103.30 |
| 506.07 | 110 | Ps. - | Ps. 103.30 | Ps. 103.30 |
| 529.07 | 115 | Ps. - | Ps. 103.30 | Ps. 103.30 |
| 552.07 | 120 | Ps. - | Ps. 103.30 | Ps. 103.30 |
| 575.08 | 125 | Ps. - | Ps. 103.30 | Ps. 103.30 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 123 |

---

598.08 130 Ps. - Ps. 103.30 Ps. 103.30

621.08 135 Ps. - Ps. 103.30 Ps. 103.30

644.08 140 Ps. - Ps. 103.30 Ps. 103.30

**ADB401R DC016**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 97.50 |
| 19.14 | 5.00 | Ps. 97.50 |
| 38.28 | 10.00 | Ps. 97.50 |
| 57.42 | 15.00 | Ps. 97.50 |
| 76.57 | 20.00 | Ps. 97.50 |
| 95.71 | 25.00 | Ps. 97.50 |
| 114.85 | 30.00 | Ps. 97.50 |
| 133.99 | 35.00 | Ps. 97.50 |
| 153.13 | 40.00 | Ps. 97.50 |
| 172.27 | 45.00 | Ps. 97.50 |
| 191.42 | 50.00 | Ps. 97.50 |
| 210.56 | 55.00 | Ps. 97.50 |
| 229.70 | 60.00 | Ps. 97.50 |
| 248.84 | 65.00 | Ps. 97.50 |
| 267.98 | 70.00 | Ps. 97.50 |
| 287.12 | 75.00 | Ps. 97.50 |
| 306.26 | 80.00 | Ps. 97.50 |
| 325.41 | 85.00 | Ps. 97.50 |
| 344.55 | 90.00 | Ps. 97.50 |
| 356.03 | 93.00 | Ps. 97.50 |
| 363.69 | 95.00 | Ps. 97.50 |
| 382.83 | 100.00 | Ps. 100.00 |
| 401.97 | 105.00 | Ps. 105.00 |
| 421.11 | 110.00 | Ps. 110.00 |
| 440.25 | 115.00 | Ps. 115.00 |
| 459.40 | 120.00 | Ps. 120.00 |
| 478.54 | 125.00 | Ps. 125.00 |
| 497.68 | 130.00 | Ps. 130.00 |
| 516.82 | 135.00 | Ps. 135.00 |
| 535.96 | 140.00 | Ps. 140.00 |
| 555.10 | 145.00 | Ps. 145.00 |
| 574.25 | 150.00 | Ps. 150.00 |
| 593.39 | 155.00 | Ps. 155.00 |
| 612.53 | 160.00 | Ps. 160.00 |
| 631.67 | 165.00 | Ps. 120.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 124 |

---

&nbsp;&nbsp;&nbsp;&nbsp;**(ii)** **Amazon.com Inc. (AMZN\*)** 

**Stock Market where it is quoted** 

NASDAQ

**Description:**

Amazon.com, Inc. is an online retailer that offers a wide range of products. The Company products include books, music, computers, electronics and numerous other products. Amazon offers personalized shopping services, Web-based credit card payment, and direct shipping to customers. Amazon also operates a cloud platform offering services globally.

**Historical Evolution:**

![](image_030.jpg)

*Comparison base: December 30th, 2017*

---

| | | | |
|:---|:---|:---|:---|
| **Period** | **Minimum price** | **Maximum price** | **Average (securities)** |
| 2017 | 58.47 | 58.47 | 53767820.00 |
| 2018 | 58.47 | 101.98 | 114498560.38 |
| 2019 | 75.01 | 101.05 | 80486364.27 |
| 2020 | 83.83 | 176.57 | 100104669.56 |
| 2021 | 147.60 | 186.57 | 69137059.45 |
| 1st Sem. 2020 | 83.83 | 138.22 | 103788974.62 |
| 2nd Sem. 2020 | 143.94 | 176.57 | 96460411.30 |
| 1st Sem. 2021 | 147.60 | 175.27 | 71909928.51 |
| 2nd Sem. 2021 | 159.39 | 186.57 | 66409400.22 |
| 1st Sem. 2022 | 102.31 | 170.41 | 85399997.45 |
| July 2022 | 109.22 | 134.95 | 71543796.06 |
| August 2022 | 126.77 | 144.78 | 50626296.84 |
| September 2022 | 113.00 | 136.45 | 61439310.40 |
| October 2022 | 102.44 | 121.09 | 76802876.68 |
| November 2022 | 86.14 | 100.79 | 93036148.47 |
| December 2022 | 81.82 | 95.50 | 76452399.90 |

---

**Historical volatility**![](image_031.jpg)

*Source of Information on Historic Evolution and Historical Volatility: www.bloomberg.com.mx*

**Quantitative examples that illustrate possible gains or losses**

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 125 |

---

**AMZ404R DC259**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 90.00 |
| 5.74 | 5.00 | Ps. 90.00 |
| 11.48 | 10.00 | Ps. 90.00 |
| 17.22 | 15.00 | Ps. 90.00 |
| 22.96 | 20.00 | Ps. 90.00 |
| 28.70 | 25.00 | Ps. 90.00 |
| 34.44 | 30.00 | Ps. 90.00 |
| 40.18 | 35.00 | Ps. 90.00 |
| 45.92 | 40.00 | Ps. 90.00 |
| 51.66 | 45.00 | Ps. 90.00 |
| 57.40 | 50.00 | Ps. 90.00 |
| 63.14 | 55.00 | Ps. 90.00 |
| 68.88 | 60.00 | Ps. 90.00 |
| 74.62 | 65.00 | Ps. 90.00 |
| 80.36 | 70.00 | Ps. 90.00 |
| 86.10 | 75.00 | Ps. 90.00 |
| 91.84 | 80.00 | Ps. 90.00 |
| 97.58 | 85.00 | Ps. 90.00 |
| 103.32 | 90.00 | Ps. 90.00 |
| 109.06 | 95.00 | Ps. 95.00 |
| 114.80 | 100.00 | Ps. 100.00 |
| 117.10 | 102.00 | Ps. 102.56 |
| 115.95 | 101.00 | Ps. 101.28 |
| 118.24 | 103.00 | Ps. 103.84 |
| 123.98 | 108.00 | Ps. 110.24 |
| 126.28 | 110.00 | Ps. 112.80 |
| 132.02 | 115.00 | Ps. 119.20 |
| 137.76 | 120.00 | Ps. 125.60 |
| 143.50 | 125.00 | Ps. 132.00 |
| 149.24 | 130.00 | Ps. 138.40 |
| 154.98 | 135.00 | Ps. 144.80 |
| 160.72 | 140.00 | Ps. 144.80 |
| 166.46 | 145.00 | Ps. 144.80 |
| 172.20 | 150.00 | Ps. 144.80 |
| 183.68 | 160.00 | Ps. 144.80 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 126 |

---

**AMZ306L DC261** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Market price** | **Observed price** | **Observation dates 1 to 5** | **Exercise dates 1 to 5** | **Exercise date 6** |
| 0.00 | 0.00 | Ps. 0.00 | Ps. 0.00 | Ps. 0.00 |
| 4.39 | 5.00 | Ps. 0.00 | Ps. 0.00 | Ps. 5.00 |
| 8.79 | 10.00 | Ps. 0.00 | Ps. 0.00 | Ps. 10.00 |
| 13.18 | 15.00 | Ps. 0.00 | Ps. 0.00 | Ps. 15.00 |
| 17.57 | 20.00 | Ps. 0.00 | Ps. 0.00 | Ps. 20.00 |
| 21.97 | 25.00 | Ps. 0.00 | Ps. 0.00 | Ps. 25.00 |
| 26.36 | 30.00 | Ps. 0.00 | Ps. 0.00 | Ps. 30.00 |
| 30.75 | 35.00 | Ps. 0.00 | Ps. 0.00 | Ps. 35.00 |
| 35.14 | 40.00 | Ps. 0.00 | Ps. 0.00 | Ps. 40.00 |
| 39.54 | 45.00 | Ps. 0.00 | Ps. 0.00 | Ps. 45.00 |
| 43.93 | 50.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 48.32 | 55.00 | Ps. 0.00 | Ps. 0.00 | Ps. 55.00 |
| 52.72 | 60.00 | Ps. 0.00 | Ps. 0.00 | Ps. 60.00 |
| 57.11 | 65.00 | Ps. 0.00 | Ps. 0.00 | Ps. 65.00 |
| 61.50 | 70.00 | Ps. 2.15 | Ps. 0.00 | Ps. 102.15 |
| 65.90 | 75.00 | Ps. 2.15 | Ps. 0.00 | Ps. 102.15 |
| 70.29 | 80.00 | Ps. 2.15 | Ps. 0.00 | Ps. 102.15 |
| 74.68 | 85.00 | Ps. 2.15 | Ps. 0.00 | Ps. 102.15 |
| 79.07 | 90.00 | Ps. 2.15 | Ps. 0.00 | Ps. 102.15 |
| 83.47 | 95.00 | Ps. 2.15 | Ps. 0.00 | Ps. 102.15 |
| 87.86 | 100.00 | Ps. 0.00 | Ps. 102.15 | Ps. 102.15 |
| 92.25 | 105.00 | Ps. 0.00 | Ps. 102.15 | Ps. 102.15 |
| 96.65 | 110.00 | Ps. 0.00 | Ps. 102.15 | Ps. 102.15 |
| 101.04 | 115.00 | Ps. 0.00 | Ps. 102.15 | Ps. 102.15 |
| 105.43 | 120.00 | Ps. 0.00 | Ps. 102.15 | Ps. 102.15 |
| 109.83 | 125.00 | Ps. 0.00 | Ps. 102.15 | Ps. 102.15 |
| 114.22 | 130.00 | Ps. 0.00 | Ps. 102.15 | Ps. 102.15 |
| 118.61 | 135.00 | Ps. 0.00 | Ps. 102.15 | Ps. 102.15 |
| 123.00 | 140.00 | Ps. 0.00 | Ps. 102.15 | Ps. 102.15 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iii) Alibaba Group Holding Limited (BABA N)**

**Stock Market where it is quoted** 

New York Stock Exchange

**Description:**

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 127 |

---

Alibaba Group Holding Limited operates as a holding company. It offers internet infrastructure, e-commerce, online financial services, and internet content through its subsidiaries. It offers its products and services all over the world.

**Historical Evolution:**

*Comparison base: December 30th, 2017*

---

| | | | |
|:---|:---|:---|:---|
| **Period** | **Minimum price** | **Maximum price** | **Average (securities)** |
| 2017 | 172.43 | 172.43 | 9704583.00 |
| 2018 | 131.89 | 210.86 | 20258630.77 |
| 2019 | 130.60 | 216.38 | 15983655.91 |
| 2020 | 176.34 | 317.14 | 19206193.89 |
| 2021 | 111.96 | 270.83 | 20607744.64 |
| 1st Sem. 2020 | 176.34 | 230.48 | 18380656.76 |
| 2nd Sem. 2020 | 215.95 | 317.14 | 20022757.78 |
| 1st Sem. 2021 | 206.08 | 270.83 | 17241161.16 |
| 2nd Sem. 2021 | 111.96 | 221.87 | 23919438.17 |
| 1st Sem. 2022 | 76.76 | 137.41 | 30565100.78 |
| July 2022 | 89.37 | 122.39 | 26850246.52 |
| August 2022 | 89.63 | 99.89 | 23108839.52 |
| September 2022 | 77.87 | 94.69 | 15946980.30 |
| October 2022 | 63.15 | 84.39 | 23091619.32 |
| November 2022 | 64.70 | 87.56 | 30958774.73 |
| December 2022 | 85.65 | 94.17 | 21380969.83 |

---

**Historical Volatility:**

*Source of Information on Historic Evolution and Historical Volatility: www.bloomberg.com.mx*

**Quantitative examples that illustrate possible gains or losses**

**BAB204L DC053**

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 128 |

---

---

| | | |
|:---|:---|:---|
| **Market Price** | **Observed Price** | **Payment Rights** |
| 0.00 | 0 | Ps. 90.00 |
| 7.40 | 5 | Ps. 90.00 |
| 14.81 | 10 | Ps. 90.00 |
| 22.21 | 15 | Ps. 90.00 |
| 29.61 | 20 | Ps. 90.00 |
| 37.01 | 25 | Ps. 90.00 |
| 44.42 | 30 | Ps. 90.00 |
| 51.82 | 35 | Ps. 90.00 |
| 59.22 | 40 | Ps. 90.00 |
| 66.62 | 45 | Ps. 90.00 |
| 74.03 | 50 | Ps. 90.00 |
| 81.43 | 55 | Ps. 90.00 |
| 88.83 | 60 | Ps. 90.00 |
| 96.23 | 65 | Ps. 90.00 |
| 103.64 | 70 | Ps. 90.00 |
| 111.04 | 75 | Ps. 90.00 |
| 118.44 | 80 | Ps. 90.00 |
| 125.84 | 85 | Ps. 90.00 |
| 133.25 | 90 | Ps. 90.00 |
| 140.65 | 95 | Ps. 95.00 |
| 148.05 | 100 | Ps. 100.00 |
| 155.45 | 105 | Ps. 108.00 |
| 162.86 | 110 | Ps. 116.00 |
| 170.26 | 115 | Ps. 124.00 |
| 177.66 | 120 | Ps. 132.00 |
| 185.06 | 125 | Ps. 140.00 |
| 192.61 | 130.1 | Ps. 112.00 |
| 199.87 | 135 | Ps. 112.00 |
| 207.27 | 140 | Ps. 112.00 |
| 214.67 | 145 | Ps. 112.00 |
| 222.08 | 150 | Ps. 112.00 |
| 229.48 | 155 | Ps. 112.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 129 |

---

**BAB302R DC063** 

---

| | | |
|:---|:---|:---|
| **Market Price** | **Observed Price** | **Payment Rights** |
| 0.00 | 0.00 | Ps. 70.00 |
| 5.95 | 5.00 | Ps. 70.00 |
| 11.90 | 10.00 | Ps. 70.00 |
| 17.85 | 15.00 | Ps. 70.00 |
| 23.80 | 20.00 | Ps. 70.00 |
| 29.75 | 25.00 | Ps. 70.00 |
| 35.70 | 30.00 | Ps. 70.00 |
| 41.65 | 35.00 | Ps. 70.00 |
| 47.60 | 40.00 | Ps. 70.00 |
| 53.55 | 45.00 | Ps. 70.00 |
| 59.50 | 50.00 | Ps. 70.00 |
| 65.44 | 55.00 | Ps. 70.00 |
| 71.39 | 60.00 | Ps. 70.00 |
| 77.34 | 65.00 | Ps. 70.00 |
| 83.29 | 70.00 | Ps. 70.00 |
| 89.24 | 75.00 | Ps. 75.00 |
| 95.19 | 80.00 | Ps. 80.00 |
| 101.14 | 85.00 | Ps. 85.00 |
| 107.09 | 90.00 | Ps. 90.00 |
| 113.04 | 95.00 | Ps. 95.00 |
| 118.99 | 100.00 | Ps. 100.00 |
| 121.37 | 102.00 | Ps. 100.00 |
| 120.18 | 101.00 | Ps. 100.00 |
| 122.56 | 103.00 | Ps. 100.00 |
| 124.94 | 105.00 | Ps. 100.00 |
| 130.90 | 110.01 | Ps. 106.51 |
| 139.23 | 117.01 | Ps. 115.61 |
| 140.42 | 118.01 | Ps. 116.91 |
| 136.85 | 115.01 | Ps. 113.01 |
| 153.50 | 129.00 | Ps. 131.20 |
| 159.45 | 134.00 | Ps. 137.70 |
| 165.40 | 139.00 | Ps. 144.20 |
| 171.35 | 144.00 | Ps. 150.05 |
| 177.30 | 149.00 | Ps. 150.05 |
| 183.24 | 154.00 | Ps. 150.05 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(iv) Citigroup Inc. (C\*)**

**Stock Market where it is quoted** 

New York Stock Exchange

**Description:**

Citigroup Inc. is a diversified financial service holding company that provides a broad range of financial services to consumer and corporate customers. The Company services include investment banking, retail brokerage, corporate banking, and cash management products and services. Citigroup serves customers globally.

**Historical Evolution:**

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 130 |

---

*Comparison base: December 30th, 2017*

---

| | | | |
|:---|:---|:---|:---|
| **Period** | **Minimum price** | **Maximum price** | **Average (securities)** |
| 2017 | 74.41 | 74.41 | 10074857.00 |
| 2018 | 49.26 | 80.08 | 17852862.74 |
| 2019 | 52.06 | 79.89 | 14216038.53 |
| 2020 | 35.39 | 81.91 | 24743131.57 |
| 2021 | 57.99 | 79.86 | 20081077.40 |
| 1st Sem. 2020 | 35.39 | 81.91 | 26826194.27 |
| 2nd Sem. 2020 | 41.13 | 61.66 | 22682710.86 |
| 1st Sem. 2021 | 57.99 | 79.86 | 20418131.46 |
| 2nd Sem. 2021 | 58.28 | 74.30 | 19749518.78 |
| 1st Sem. 2022 | 45.69 | 67.84 | 26739184.00 |
| July 2022 | 44.14 | 52.59 | 24110427.71 |
| August 2022 | 48.81 | 54.38 | 14976325.74 |
| September 2022 | 41.67 | 50.87 | 19634846.57 |
| October 2022 | 40.45 | 46.13 | 19221537.71 |
| November 2022 | 44.58 | 50.19 | 16591066.33 |
| December 2022 | 43.81 | 47.78 | 17815280.07 |

---

**Historical Volatility:**

![](image_039.jpg)

*Source of Information on Historic Evolution and Historical Volatility: www.bloomberg.com.mx*

**Quantitative examples that illustrate possible gains or losses** 

**CTI308L DC012**

![](image_040.jpg)

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 131 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Market price** | **Observed price** | **Observation dates 1 to 5** | **Exercise dates 1 to 5** | **Exercise date 6** |
| 0.00 | 0.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 3.33 | 5.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 6.66 | 10.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 9.98 | 15.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 13.31 | 20.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 16.64 | 25.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 19.97 | 30.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 23.30 | 35.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 26.62 | 40.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 29.95 | 45.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 33.28 | 50.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 36.61 | 55.00 | Ps. 0.00 | Ps. 0.00 | Ps. 55.00 |
| 39.94 | 60.00 | Ps. 0.00 | Ps. 0.00 | Ps. 60.00 |
| 43.26 | 65.00 | Ps. 0.00 | Ps. 0.00 | Ps. 65.00 |
| 46.59 | 70.00 | Ps. 0.00 | Ps. 0.00 | Ps. 70.00 |
| 49.92 | 75.00 | Ps. 0.00 | Ps. 0.00 | Ps. 75.00 |
| 53.25 | 80.00 | Ps. 0.00 | Ps. 0.00 | Ps. 80.00 |
| 56.58 | 85.00 | Ps. 3.00 | Ps. 0.00 | Ps. 103.00 |
| 59.90 | 90.00 | Ps. 3.00 | Ps. 0.00 | Ps. 103.00 |
| 63.23 | 95.00 | Ps. 3.00 | Ps. 0.00 | Ps. 103.00 |
| 66.56 | 100.00 | Ps. 3.00 | Ps. 0.00 | Ps. 103.00 |
| 69.89 | 105.00 | Ps. 0.00 | Ps. 103.00 | Ps. 103.00 |
| 73.22 | 110.00 | Ps. 0.00 | Ps. 103.00 | Ps. 103.00 |
| 76.54 | 115.00 | Ps. 0.00 | Ps. 103.00 | Ps. 103.00 |
| 79.87 | 120.00 | Ps. 0.00 | Ps. 103.00 | Ps. 103.00 |
| 83.20 | 125.00 | Ps. 0.00 | Ps. 103.00 | Ps. 103.00 |
| 86.53 | 130.00 | Ps. 0.00 | Ps. 103.00 | Ps. 103.00 |
| 89.86 | 135.00 | Ps. 0.00 | Ps. 103.00 | Ps. 103.00 |
| 93.18 | 140.00 | Ps. 0.00 | Ps. 103.00 | Ps. 103.00 |

---

**CTI311L DC013**

![](image_041.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Market price** | **Observed price** | **Exercise dates 1 to 3** | **Exercise date 4** |
| 0.00 | 0.00 | Ps. 0.00 | Ps. 0.00 |
| 2.29 | 5.00 | Ps. 0.00 | Ps. 5.00 |
| 4.59 | 10.00 | Ps. 0.00 | Ps. 10.00 |
| 6.88 | 15.00 | Ps. 0.00 | Ps. 15.00 |
| 9.17 | 20.00 | Ps. 0.00 | Ps. 20.00 |
| 11.47 | 25.00 | Ps. 0.00 | Ps. 25.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 132 |

---

13.76 30.00 Ps. 0.00 Ps. 30.00

16.05 35.00 Ps. 0.00 Ps. 35.00

18.34 40.00 Ps. 0.00 Ps. 40.00

20.64 45.00 Ps. 0.00 Ps. 45.00

22.93 50.00 Ps. 0.00 Ps. 50.00

25.22 55.00 Ps. 0.00 Ps. 55.00

27.52 60.00 Ps. 0.00 Ps. 60.00

29.81 65.00 Ps. 0.00 Ps. 65.00

32.10 70.00 Ps. 0.00 Ps. 70.00

34.40 75.00 Ps. 0.00 Ps. 75.00

36.69 80.00 Ps. 0.00 Ps. 80.00

38.98 85.00 Ps. 0.00 Ps. 85.00

41.27 90.00 Ps. 0.00 Ps. 90.00

42.65 93.00 Ps. 0.00 Ps. 93.00

42.65 93.01 Ps. 0.00 Ps. 100.00

45.40 99.00 Ps. 0.00 Ps. 100.00

45.86 100.00 Ps. 0.00 Ps. 104.75

48.15 105.00 Ps. 104.75 Ps. 104.75

50.45 110.00 Ps. 104.75 Ps. 104.75

52.74 115.00 Ps. 104.75 Ps. 104.75

55.03 120.00 Ps. 104.75 Ps. 104.75

59.62 130.00 Ps. 104.75 Ps. 104.75

64.20 140.00 Ps. 104.75 Ps. 104.75

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(v) Salesforce, Inc. (CRM\*)**

**Stock Market where it is quoted:** 

New York Stock Exchange

**Description:**

Salesforce, Inc. operates as a cloud-based software company. He develops customer relationship management software and applications focused on sales, customer service, marketing automation, analytics, and application development. It serves clients all over the world.

**Historical Evolution:** 

*Comparison base: December 30th, 2017*

---

| | | | |
|:---|:---|:---|:---|
| **Period** | **Minimum price** | **Maximum price** | **Average (securities)** |

---

---

| | | | |
|:---|:---|:---|:---|
| 2017 | 102.23 | 102.23 | 2498756.00 |
| 2018 | 102.23 | 160.43 | 5776419.39 |
| 2019 | 130.40 | 166.95 | 5654537.10 |
| 2020 | 124.30 | 281.25 | 7461414.32 |
| 2021 | 205.33 | 309.96 | 6348619.61 |
| 1st Sem. 2020 | 124.30 | 193.36 | 7058988.19 |
| 2nd Sem. 2020 | 185.51 | 281.25 | 7859466.24 |
| 1st Sem. 2021 | 205.33 | 248.59 | 7008665.91 |
| 2nd Sem. 2021 | 237.55 | 309.96 | 5699334.93 |
| 1st Sem. 2022 | 155.60 | 255.46 | 7751297.53 |
| July 2022 | 161.04 | 185.35 | 4579999.23 |
| August 2022 | 156.12 | 191.27 | 6142394.06 |
| September 2022 | 143.84 | 165.63 | 7511772.27 |
| October 2022 | 142.22 | 165.27 | 6617574.74 |
| November 2022 | 139.77 | 162.07 | 7630125.50 |
| December 2022 | 128.27 | 147.00 | 11823989.30 |

---

**Historical volatility :**

![](image_043.jpg)

*Source of Information on Historic Evolution and Historical Volatility: www.bloomberg.com.mx*

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 133 |

---

**Quantitative examples that illustrate possible gains or losses** 

**CRM312L DC058**

![](image_044.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Market Price** | **Observed price** | **Exercise dates 1 to 3** | **Exercise date 4** |
| 0.00 | 0.00 | Ps. 0.00 | Ps. 0.00 |
| 8.01 | 5.00 | Ps. 0.00 | Ps. 5.00 |
| 16.03 | 10.00 | Ps. 0.00 | Ps. 10.00 |
| 24.04 | 15.00 | Ps. 0.00 | Ps. 15.00 |
| 32.05 | 20.00 | Ps. 0.00 | Ps. 20.00 |
| 40.06 | 25.00 | Ps. 0.00 | Ps. 25.00 |
| 48.08 | 30.00 | Ps. 0.00 | Ps. 30.00 |
| 56.09 | 35.00 | Ps. 0.00 | Ps. 35.00 |
| 64.10 | 40.00 | Ps. 0.00 | Ps. 40.00 |
| 72.11 | 45.00 | Ps. 0.00 | Ps. 45.00 |
| 80.13 | 50.00 | Ps. 0.00 | Ps. 50.00 |
| 88.14 | 55.00 | Ps. 0.00 | Ps. 55.00 |
| 96.15 | 60.00 | Ps. 0.00 | Ps. 60.00 |
| 100.96 | 63.00 | Ps. 0.00 | Ps. 63.00 |
| 102.16 | 63.75 | Ps. 0.00 | Ps. 63.75 |
| 102.56 | 64.00 | Ps. 0.00 | Ps. 64.00 |
| 110.57 | 69.00 | Ps. 0.00 | Ps. 69.00 |
| 118.59 | 74.00 | Ps. 0.00 | Ps. 74.00 |
| 126.60 | 79.00 | Ps. 0.00 | Ps. 79.00 |
| 149.02 | 92.99 | Ps. 0.00 | Ps. 92.99 |
| 149.03 | 93.00 | Ps. 0.00 | Ps. 100.00 |
| 152.24 | 95.00 | Ps. 0.00 | Ps. 100.00 |
| 160.23 | 99.99 | Ps. 0.00 | Ps. 100.00 |
| 160.25 | 100.00 | Ps. 105.15 | Ps. 105.15 |
| 168.26 | 105.00 | Ps. 105.15 | Ps. 105.15 |
| 176.28 | 110.00 | Ps. 105.15 | Ps. 105.15 |
| 184.29 | 115.00 | Ps. 105.15 | Ps. 105.15 |
| 192.30 | 120.00 | Ps. 105.15 | Ps. 105.15 |
| 240.38 | 150.00 | Ps. 105.15 | Ps. 105.15 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 134 |

---

&nbsp;&nbsp;&nbsp;&nbsp;**(vi)** **iShares China Large-CAP ETF ETF (FXI \*)** 

**Stock Market where it is quoted** 

New York Stock Exchange

**Description:**

Shares China Large-Cap ETF is an exchange-traded fund incorporated in the US. It tracks the FTSE China 50 Index and invests in large-cap stocks. Its investments are focused on the financial, oil and gas, technology, and communication sectors. The ETF uses representative index sampling, invest at least 90% of your assets in the underlying index.

**Historical Evolution:**![](image_045.jpg)

*Comparison base: December 30th, 2017*

---

| | | | |
|:---|:---|:---|:---|
| **Period** | **Minimum price** | **Maximum price** | **Average (securities)** |
| 2017 | 46.17 | 46.17 | 7854252.00 |
| 2018 | 38.26 | 54.00 | 28275772.58 |
| 2019 | 37.67 | 45.85 | 26581149.38 |
| 2020 | 33.91 | 48.62 | 24765175.44 |
| 2021 | 35.57 | 54.47 | 21513640.75 |
| 1st Sem. 2020 | 33.91 | 45.28 | 31917397.20 |
| 2nd Sem. 2020 | 40.16 | 48.62 | 17690695.22 |
| 1st Sem. 2021 | 43.55 | 54.47 | 17479491.48 |
| 2nd Sem. 2021 | 35.57 | 46.09 | 25482015.84 |
| 1st Sem. 2022 | 27.07 | 39.03 | 42240612.13 |
| July 2022 | 30.38 | 34.07 | 33445902.55 |
| August 2022 | 29.18 | 30.96 | 29405960.55 |
| September 2022 | 25.86 | 29.87 | 32631341.23 |
| October 2022 | 20.95 | 27.22 | 37479795.97 |
| November 2022 | 21.84 | 28.16 | 48811568.57 |
| December 2022 | 27.36 | 29.12 | 39906981.00 |

---

**Historical volatility**![](image_046.jpg)

*Source of Information on Historic Evolution and Historical Volatility: www.bloomberg.com.mx*

**Quantitative examples that illustrate possible gains or losses** 

**FXI305R DC037**

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 135 |

---

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.000 | 0.00 | Ps.95.00 |
| 1.485 | 5 | Ps.95.00 |
| 2.970 | 10 | Ps.95.00 |
| 4.455 | 15 | Ps.95.00 |
| 5.940 | 20 | Ps.95.00 |
| 7.425 | 25 | Ps.95.00 |
| 8.910 | 30 | Ps.95.00 |
| 10.395 | 35 | Ps.95.00 |
| 11.880 | 40 | Ps.95.00 |
| 13.365 | 45 | Ps.95.00 |
| 14.850 | 50 | Ps.95.00 |
| 16.335 | 55 | Ps.95.00 |
| 17.820 | 60 | Ps.95.00 |
| 19.305 | 65 | Ps.95.00 |
| 20.790 | 70 | Ps.95.00 |
| 22.275 | 75 | Ps.95.00 |
| 23.760 | 80 | Ps.95.00 |
| 25.245 | 85 | Ps.95.00 |
| 26.730 | 90 | Ps.95.00 |
| 27.621 | 93 | Ps.98.00 |
| 28.215 | 95 | Ps.100.00 |
| 29.700 | 100 | Ps.100.00 |
| 29.997 | 101 | Ps.101.00 |
| 30.591 | 103 | Ps.103.00 |
| 32.076 | 108 | Ps.108.00 |
| 32.670 | 110 | Ps.110.00 |
| 34.155 | 115 | Ps.115.00 |
| 35.640 | 120 | Ps.120.00 |
| 38.610 | 130 | Ps.130.00 |
| 40.689 | 137 | Ps.137.00 |
| 42.174 | 142 | Ps.112.00 |
| 43.659 | 147 | Ps.112.00 |
| 45.144 | 152 | Ps.112.00 |
| 46.629 | 157 | Ps.112.00 |
| 48.114 | 162 | Ps.112.00 |

---

&nbsp;&nbsp;&nbsp;&nbsp;**(vii)** **Alphabet Inc. (GOOGL\*)** 

**Stock Market where it is quoted** 

NASDAQ

**Description:**

Alphabet Inc. operates as a holding company. Through subsidiaries, it provides web-based search, advertising, maps, software applications, mobile operating systems, consumer content, business solutions, commerce, and hardware products.

**Historical Evolution:** 

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 136 |

---

![](image_048.jpg)

*Comparison base: December 30th, 2017*

---

| | | | |
|:---|:---|:---|:---|
| **Period** | **Minimum price** | **Maximum price** | **Average (securities)** |
| 2017 | 52.67 | 52.67 | 23606800.00 |
| 2018 | 49.23 | 64.28 | 41605162.96 |
| 2019 | 51.27 | 68.12 | 30689905.75 |
| 2020 | 52.71 | 91.25 | 40803197.70 |
| 2021 | 86.14 | 149.84 | 30915622.58 |
| 1st Sem. 2020 | 52.71 | 76.24 | 46282111.43 |
| 2nd Sem. 2020 | 70.47 | 91.25 | 35383837.39 |
| 1st Sem. 2021 | 86.14 | 122.54 | 32870512.82 |
| 2nd Sem. 2021 | 122.44 | 149.84 | 28992605.54 |
| 1st Sem. 2022 | 105.81 | 148.00 | 38496959.67 |
| July 2022 | 105.02 | 119.35 | 39945890.65 |
| August 2022 | 108.22 | 122.08 | 22919539.97 |
| September 2022 | 95.65 | 110.86 | 29368307.80 |
| October 2022 | 92.22 | 104.48 | 32441128.68 |
| November 2022 | 83.43 | 100.99 | 32664132.97 |
| December 2022 | 86.02 | 100.99 | 29572072.07 |

---

**Historical volatility**

![](image_049.jpg)

*Source of Information on Historic Evolution and Historical Volatility: www.bloomberg.com.mx*

**Quantitative examples that illustrate possible gains or losses** 

**GOL404R DC077** 

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 137 |

---

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 97.50 |
| 5.06 | 5.00 | Ps. 97.50 |
| 10.11 | 10.00 | Ps. 97.50 |
| 15.17 | 15.00 | Ps. 97.50 |
| 20.23 | 20.00 | Ps. 97.50 |
| 25.28 | 25.00 | Ps. 97.50 |
| 30.34 | 30.00 | Ps. 97.50 |
| 35.40 | 35.00 | Ps. 97.50 |
| 40.45 | 40.00 | Ps. 97.50 |
| 45.51 | 45.00 | Ps. 97.50 |
| 50.57 | 50.00 | Ps. 97.50 |
| 55.62 | 55.00 | Ps. 97.50 |
| 60.68 | 60.00 | Ps. 97.50 |
| 65.73 | 65.00 | Ps. 97.50 |
| 70.79 | 70.00 | Ps. 97.50 |
| 75.85 | 75.00 | Ps. 97.50 |
| 80.90 | 80.00 | Ps. 97.50 |
| 85.96 | 85.00 | Ps. 97.50 |
| 91.02 | 90.00 | Ps. 97.50 |
| 96.07 | 95.00 | Ps. 97.50 |
| 98.60 | 97.50 | Ps. 97.50 |
| 99.11 | 98.00 | Ps. 98.00 |
| 100.12 | 99.00 | Ps. 99.00 |
| 101.13 | 100.00 | Ps. 100.00 |
| 106.19 | 105.00 | Ps. 105.00 |
| 111.24 | 110.00 | Ps. 110.00 |
| 116.30 | 115.00 | Ps. 115.00 |
| 121.36 | 120.00 | Ps. 120.00 |
| 126.41 | 125.00 | Ps. 125.00 |
| 131.47 | 130.00 | Ps. 130.00 |
| 136.53 | 135.00 | Ps. 135.00 |
| 141.58 | 140.00 | Ps. 140.00 |
| 146.64 | 145.00 | Ps. 145.00 |
| 151.70 | 150.00 | Ps. 150.00 |
| 156.75 | 155.00 | Ps. 155.00 |
| 161.81 | 160.00 | Ps. 160.00 |
| 166.86 | 165.00 | Ps. 122.50 |
| 171.92 | 170.00 | Ps. 122.50 |
| 176.98 | 175.00 | Ps. 122.50 |
| 182.03 | 180.00 | Ps. 122.50 |

---

**GOL405R DC079**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 97.50 |
| 4.73 | 5.00 | Ps. 97.50 |
| 9.45 | 10.00 | Ps. 97.50 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 138 |

---

14.18 15.00 Ps. 97.50

18.90 20.00 Ps. 97.50

23.63 25.00 Ps. 97.50

28.35 30.00 Ps. 97.50

33.08 35.00 Ps. 97.50

37.80 40.00 Ps. 97.50

42.53 45.00 Ps. 97.50

47.26 50.00 Ps. 97.50

51.98 55.00 Ps. 97.50

56.71 60.00 Ps. 97.50

61.43 65.00 Ps. 97.50

66.16 70.00 Ps. 97.50

70.88 75.00 Ps. 97.50

75.61 80.00 Ps. 97.50

80.33 85.00 Ps. 97.50

85.06 90.00 Ps. 97.50

89.78 95.00 Ps. 97.50

92.15 97.50 Ps. 97.50

92.62 98.00 Ps. 98.00

93.56 99.00 Ps. 99.00

94.51 100.00 Ps. 100.00

99.24 105.00 Ps. 105.00

103.96 110.00 Ps. 110.00

108.69 115.00 Ps. 115.00

113.41 120.00 Ps. 120.00

118.14 125.00 Ps. 125.00

122.86 130.00 Ps. 130.00

127.59 135.00 Ps. 135.00

132.31 140.00 Ps. 140.00

137.04 145.00 Ps. 145.00

141.77 150.00 Ps. 150.00

146.49 155.00 Ps. 155.00

151.22 160.00 Ps. 120.00

155.94 165.00 Ps. 120.00

160.67 170.00 Ps. 120.00

165.39 175.00 Ps. 120.00

170.12 180.00 Ps. 120.00

&nbsp;&nbsp;&nbsp;&nbsp;**(viii)** **iShares Biotechnology ETF (IBB \*)** 

**Stock Market where it is quoted** 

NASDAQ

**Description:**

iShares Biotechnology ETF is a US-incorporated exchange-traded fund. The Fund's objective seeks investment results that correspond to the performance of the ICE Biotechnology Index, which is comprised of US-listed stocks in the sector of biotechnology.

**Historical Evolution:**

![](image_052.jpg)

*Comparison base: December 30th, 2017*

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 139 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Period** | **Minimum price** | **Maximum price** | **Average (securities)** |
| 2017 | 106.77 | 106.77 | 1965317.00 |
| 2018 | 89.61 | 122.19 | 2513003.06 |
| 2019 | 96.43 | 123.50 | 2462344.77 |
| 2020 | 94.39 | 157.31 | 3327921.43 |
| 2021 | 145.27 | 176.21 | 2825919.94 |
| 1st Sem. 2020 | 94.39 | 138.65 | 3706116.16 |
| 2nd Sem. 2020 | 126.88 | 157.31 | 2953837.51 |
| 1st Sem. 2021 | 146.13 | 172.60 | 3307070.98 |
| 2nd Sem. 2021 | 145.27 | 176.21 | 2352613.75 |
| 1st Sem. 2022 | 105.82 | 152.62 | 2782203.31 |
| July 2022 | 120.17 | 126.66 | 1875820.42 |
| August 2022 | 121.14 | 134.82 | 1660408.87 |
| September 2022 | 113.42 | 128.63 | 2139224.87 |
| October 2022 | 116.96 | 129.68 | 1837266.52 |
| November 2022 | 127.58 | 136.53 | 1970484.63 |
| December 2022 | 128.39 | 138.43 | 1826845.20 |

---

**Historical volatility**![](image_053.jpg)

*Source of Information on Historic Evolution and Historical Volatility: www.bloomberg.com.mx*

**Quantitative examples that illustrate possible gains or losses** 

**IBB306R DC003**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 100.00 |
| 5.83 | 5.00 | Ps. 100.00 |
| 11.67 | 10.00 | Ps. 100.00 |
| 17.50 | 15.00 | Ps. 100.00 |
| 23.33 | 20.00 | Ps. 100.00 |
| 29.17 | 25.00 | Ps. 100.00 |
| 35.00 | 30.00 | Ps. 100.00 |
| 40.83 | 35.00 | Ps. 100.00 |
| 46.67 | 40.00 | Ps. 100.00 |
| 52.50 | 45.00 | Ps. 100.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 140 |

---

58.34 50.00 Ps. 100.00

64.17 55.00 Ps. 100.00

70.00 60.00 Ps. 100.00

75.84 65.00 Ps. 100.00

81.67 70.00 Ps. 100.00

87.50 75.00 Ps. 100.00

93.34 80.00 Ps. 100.00

99.17 85.00 Ps. 100.00

105.00 90.00 Ps. 100.00

110.84 95.00 Ps. 100.00

116.67 100.00 Ps. 100.00

122.50 105.00 Ps. 105.00

128.34 110.00 Ps. 110.00

134.17 115.00 Ps. 115.00

140.00 120.00 Ps. 120.00

145.84 125.00 Ps. 125.00

151.67 130.00 Ps. 108.00

157.50 135.00 Ps. 108.00

163.34 140.00 Ps. 108.00

169.17 145.00 Ps. 108.00

175.01 150.00 Ps. 108.00

180.84 155.00 Ps. 108.00

186.67 160.00 Ps. 108.00

192.51 165.00 Ps. 108.00

198.34 170.00 Ps. 108.00

&nbsp;&nbsp;&nbsp;&nbsp;**(ix)** **MercadoLibre Inc. (MELI\*)** 

**Stock Market where it is quoted**

NASDAQ

**Description:**

MercadoLibre Inc. operates a commerce website for Latin American markets. It allows individuals and companies to classify articles, make purchases online in auction or fixed price format. Offers classified ads for motor vehicles, boats, airplanes, real estate, and services, as well as Internet payment services.

**Historical Evolution:**

![](image_055.jpg)

*Comparison base: December 30th, 2017*

---

| | | | |
|:---|:---|:---|:---|
| **Period** | **Minimum price** | **Maximum price** | **Average (securities)** |
| 2017 | 314.66 | 314.66 | 416233.00 |
| 2018 | 257.52 | 413.94 | 758838.04 |
| 2019 | 292.85 | 690.10 | 546875.16 |
| 2020 | 447.34 | 1732.39 | 560993.75 |
| 2021 | 1052.95 | 1984.34 | 483877.44 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 141 |

---

---

| | | | |
|:---|:---|:---|:---|
| 1st Sem. 2020 | 447.34 | 985.77 | 632196.32 |
| 2nd Sem. 2020 | 956.62 | 1732.39 | 490565.12 |
| 1st Sem. 2021 | 1296.65 | 1984.34 | 512280.61 |
| 2nd Sem. 2021 | 1052.95 | 1953.83 | 455937.35 |
| 1st Sem. 2022 | 612.70 | 1348.40 | 695542.33 |
| July 2022 | 653.63 | 813.71 | 575295.19 |
| August 2022 | 813.97 | 1082.66 | 658918.77 |
| September 2022 | 799.58 | 1002.01 | 651497.87 |
| October 2022 | 756.88 | 948.25 | 658633.23 |
| November 2022 | 851.28 | 1020.68 | 684046.97 |
| December 2022 | 835.09 | 945.07 | 497343.07 |

---

**Historical volatility**![](image_056.jpg)

*Source of Information on Historic Evolution and Historical Volatility: www.bloomberg.com.mx*

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 142 |

---

**Quantitative examples that illustrate possible gains or losses** 

**MLI310L DC021**

![](image_057.jpg)

---

| | | | |
|:---|:---|:---|:---|
| **Market price** | **Observed price** | **Exercise dates 1 to 3** | **Exercise date 4** |
| 0.00 | Ps. 0.00 | Ps. 0.00 | Ps. 0.00 |
| 41.48 | Ps. 5.00 | Ps. 0.00 | Ps. 5.00 |
| 82.97 | Ps. 10.00 | Ps. 0.00 | Ps. 10.00 |
| 124.45 | Ps. 15.00 | Ps. 0.00 | Ps. 15.00 |
| 165.94 | Ps. 20.00 | Ps. 0.00 | Ps. 20.00 |
| 207.42 | Ps. 25.00 | Ps. 0.00 | Ps. 25.00 |
| 248.90 | Ps. 30.00 | Ps. 0.00 | Ps. 30.00 |
| 290.39 | Ps. 35.00 | Ps. 0.00 | Ps. 35.00 |
| 331.87 | Ps. 40.00 | Ps. 0.00 | Ps. 40.00 |
| 373.36 | Ps. 45.00 | Ps. 0.00 | Ps. 45.00 |
| 414.84 | Ps. 50.00 | Ps. 0.00 | Ps. 50.00 |
| 456.32 | Ps. 55.00 | Ps. 0.00 | Ps. 55.00 |
| 497.81 | Ps. 60.00 | Ps. 0.00 | Ps. 60.00 |
| 522.70 | Ps. 63.00 | Ps. 0.00 | Ps. 63.00 |
| 528.92 | Ps. 63.75 | Ps. 0.00 | Ps. 63.75 |
| 531.00 | Ps. 64.00 | Ps. 0.00 | Ps. 64.00 |
| 572.48 | Ps. 69.00 | Ps. 0.00 | Ps. 69.00 |
| 613.96 | Ps. 74.00 | Ps. 0.00 | Ps. 74.00 |
| 655.45 | Ps. 79.00 | Ps. 0.00 | Ps. 79.00 |
| 771.52 | Ps. 92.99 | Ps. 0.00 | Ps. 92.99 |
| 771.60 | Ps. 93.00 | Ps. 0.00 | Ps. 100.00 |
| 788.20 | Ps. 95.00 | Ps. 0.00 | Ps. 100.00 |
| 829.60 | Ps. 99.99 | Ps. 0.00 | Ps. 100.00 |
| 829.68 | Ps. 100.00 | Ps. 110.60 | Ps. 110.60 |
| 871.16 | Ps. 105.00 | Ps. 110.60 | Ps. 110.60 |
| 912.65 | Ps. 110.00 | Ps. 110.60 | Ps. 110.60 |
| 954.13 | Ps. 115.00 | Ps. 110.60 | Ps. 110.60 |
| 995.62 | Ps. 120.00 | Ps. 110.60 | Ps. 110.60 |
| 1244.52 | Ps. 150.00 | Ps. 110.60 | Ps. 110.60 |

---

&nbsp;&nbsp;&nbsp;&nbsp;**(x)** **Meta Platforms, Inc (META\*)** 

**Stock Market where it is quoted** 

NASDAQ

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 143 |

---

**Description:**

Meta Platforms, Inc. operates as a social technology company. The Company builds applications and technologies that help people connect, find communities, and grow businesses. Meta Platform is also involved in advertisements, augmented, and virtual reality.

**Historical Evolution:**

![](image_058.jpg).

*Comparison base: December 30th, 2017*

---

| | | | |
|:---|:---|:---|:---|
| **Period** | **Minimum price** | **Maximum price** | **Average (securities)** |
| 2017 | 176.46 | 176.46 | 10261456.00 |
| 2018 | 124.06 | 217.50 | 27262166.58 |
| 2019 | 131.09 | 208.10 | 16094515.08 |
| 2020 | 146.01 | 303.91 | 22624224.43 |
| 2021 | 245.64 | 382.18 | 18855465.91 |
| 1st Sem. 2020 | 146.01 | 242.24 | 23485350.38 |
| 2nd Sem. 2020 | 230.12 | 303.91 | 21772458.53 |
| 1st Sem. 2021 | 245.64 | 355.64 | 19164354.15 |
| 2nd Sem. 2021 | 306.84 | 382.18 | 18551613.89 |
| 1st Sem. 2022 | 155.85 | 338.54 | 34184707.86 |
| July 2022 | 158.05 | 183.17 | 30171056.10 |
| August 2022 | 157.16 | 180.89 | 24085835.13 |
| September 2022 | 134.40 | 169.15 | 29696229.20 |
| October 2022 | 93.16 | 140.28 | 50922601.06 |
| November 2022 | 88.91 | 118.10 | 46902921.90 |
| December 2022 | 113.93 | 123.49 | 32416839.07 |

---

**Historical volatility**![](image_059.jpg)

*Source of Information on Historic Evolution and Historical Volatility: www.bloomberg.com.mx*

**Quantitative examples that illustrate possible gains or losses**

**MTP301L DC122**

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 144 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Market price** | **Observed price** | **Observation dates 1 to 5** | **Exercise dates 1 to 5** | **Exercise date 6** |
| 0.00 | 0.00 | Ps. 0.00 | Ps. 0.00 | Ps. 0.00 |
| 9.15 | 5.00 | Ps. 0.00 | Ps. 0.00 | Ps. 5.00 |
| 18.31 | 10.00 | Ps. 0.00 | Ps. 0.00 | Ps. 10.00 |
| 27.46 | 15.00 | Ps. 0.00 | Ps. 0.00 | Ps. 15.00 |
| 36.62 | 20.00 | Ps. 0.00 | Ps. 0.00 | Ps. 20.00 |
| 45.77 | 25.00 | Ps. 0.00 | Ps. 0.00 | Ps. 25.00 |
| 54.93 | 30.00 | Ps. 0.00 | Ps. 0.00 | Ps. 30.00 |
| 64.08 | 35.00 | Ps. 0.00 | Ps. 0.00 | Ps. 35.00 |
| 73.24 | 40.00 | Ps. 0.00 | Ps. 0.00 | Ps. 40.00 |
| 82.39 | 45.00 | Ps. 0.00 | Ps. 0.00 | Ps. 45.00 |
| 91.55 | 50.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 100.70 | 55.00 | Ps. 0.00 | Ps. 0.00 | Ps. 55.00 |
| 109.85 | 60.00 | Ps. 0.00 | Ps. 0.00 | Ps. 60.00 |
| 119.01 | 65.00 | Ps. 0.00 | Ps. 0.00 | Ps. 65.00 |
| 128.16 | 70.00 | Ps. 2.40 | Ps. 0.00 | Ps. 102.40 |
| 137.32 | 75.00 | Ps. 2.40 | Ps. 0.00 | Ps. 102.40 |
| 146.47 | 80.00 | Ps. 2.40 | Ps. 0.00 | Ps. 102.40 |
| 155.63 | 85.00 | Ps. 2.40 | Ps. 0.00 | Ps. 102.40 |
| 164.78 | 90.00 | Ps. 2.40 | Ps. 0.00 | Ps. 102.40 |
| 173.94 | 95.00 | Ps. 2.40 | Ps. 0.00 | Ps. 102.40 |
| 183.09 | 100.00 | Ps. 0.00 | Ps. 102.40 | Ps. 102.40 |
| 192.24 | 105.00 | Ps. 0.00 | Ps. 102.40 | Ps. 102.40 |
| 201.40 | 110.00 | Ps. 0.00 | Ps. 102.40 | Ps. 102.40 |
| 210.55 | 115.00 | Ps. 0.00 | Ps. 102.40 | Ps. 102.40 |
| 219.71 | 120.00 | Ps. 0.00 | Ps. 102.40 | Ps. 102.40 |
| 228.86 | 125.00 | Ps. 0.00 | Ps. 102.40 | Ps. 102.40 |
| 238.02 | 130.00 | Ps. 0.00 | Ps. 102.40 | Ps. 102.40 |
| 247.17 | 135.00 | Ps. 0.00 | Ps. 102.40 | Ps. 102.40 |
| 256.33 | 140.00 | Ps. 0.00 | Ps. 102.40 | Ps. 102.40 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 145 |

---

**FBK304R DC116**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 100.00 |
| 11.12 | 5.00 | Ps. 100.00 |
| 22.24 | 10.00 | Ps. 100.00 |
| 33.35 | 15.00 | Ps. 100.00 |
| 44.47 | 20.00 | Ps. 100.00 |
| 55.59 | 25.00 | Ps. 100.00 |
| 66.71 | 30.00 | Ps. 100.00 |
| 77.83 | 35.00 | Ps. 100.00 |
| 88.94 | 40.00 | Ps. 100.00 |
| 100.06 | 45.00 | Ps. 100.00 |
| 111.18 | 50.00 | Ps. 100.00 |
| 122.30 | 55.00 | Ps. 100.00 |
| 133.42 | 60.00 | Ps. 100.00 |
| 144.53 | 65.00 | Ps. 100.00 |
| 155.65 | 70.00 | Ps. 100.00 |
| 166.77 | 75.00 | Ps. 100.00 |
| 177.89 | 80.00 | Ps. 100.00 |
| 189.01 | 85.00 | Ps. 100.00 |
| 200.12 | 90.00 | Ps. 100.00 |
| 211.24 | 95.00 | Ps. 100.00 |
| 222.36 | 100.00 | Ps. 100.00 |
| 233.48 | 105.00 | Ps. 105.00 |
| 244.60 | 110.00 | Ps. 110.00 |
| 255.71 | 115.00 | Ps. 115.00 |
| 266.83 | 120.00 | Ps. 120.00 |
| 277.95 | 125.00 | Ps. 109.00 |
| 289.07 | 130.00 | Ps. 109.00 |
| 300.19 | 135.00 | Ps. 109.00 |
| 311.30 | 140.00 | Ps. 109.00 |
| 322.42 | 145.00 | Ps. 109.00 |
| 333.54 | 150.00 | Ps. 109.00 |
| 344.66 | 155.00 | Ps. 109.00 |
| 355.78 | 160.00 | Ps. 109.00 |
| 366.89 | 165.00 | Ps. 109.00 |
| 378.01 | 170.00 | Ps. 109.00 |

---

**FBK309L DC115**

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 146 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Market price** | **Observed price** | **Observation dates 1 to 8** | **Observation dates 1 to 8** | **Observation date 9** |
| 0.00 | 0.00 | Ps. 0.00 | Ps. 0.00 | Ps. 10.00 |
| 11.09 | 5.00 | Ps. 0.00 | Ps. 0.00 | Ps. 15.00 |
| 22.18 | 10.00 | Ps. 0.00 | Ps. 0.00 | Ps. 20.00 |
| 33.27 | 15.00 | Ps. 0.00 | Ps. 0.00 | Ps. 25.00 |
| 44.36 | 20.00 | Ps. 0.00 | Ps. 0.00 | Ps. 30.00 |
| 55.46 | 25.00 | Ps. 0.00 | Ps. 0.00 | Ps. 35.00 |
| 66.55 | 30.00 | Ps. 0.00 | Ps. 0.00 | Ps. 40.00 |
| 77.64 | 35.00 | Ps. 0.00 | Ps. 0.00 | Ps. 45.00 |
| 88.73 | 40.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 99.82 | 45.00 | Ps. 0.00 | Ps. 0.00 | Ps. 55.00 |
| 110.91 | 50.00 | Ps. 0.00 | Ps. 0.00 | Ps. 60.00 |
| 122.00 | 55.00 | Ps. 0.00 | Ps. 0.00 | Ps. 65.00 |
| 133.09 | 60.00 | Ps. 0.00 | Ps. 0.00 | Ps. 70.00 |
| 144.18 | 65.00 | Ps. 0.00 | Ps. 0.00 | Ps. 75.00 |
| 155.27 | 70.00 | Ps. 0.00 | Ps. 0.00 | Ps. 80.00 |
| 166.37 | 75.00 | Ps. 0.00 | Ps. 0.00 | Ps. 85.00 |
| 177.46 | 80.00 | Ps. 0.00 | Ps. 0.00 | Ps. 90.00 |
| 188.55 | 85.00 | Ps. 0.00 | Ps. 0.00 | Ps. 95.00 |
| 199.64 | 90.00 | Ps. 2.55 | Ps. 0.00 | Ps. 102.55 |
| 210.73 | 95.00 | Ps. 2.55 | Ps. 0.00 | Ps. 102.55 |
| 221.82 | 100.00 | Ps. 0.00 | Ps. 102.55 | Ps. 102.55 |
| 232.91 | 105.00 | Ps. 0.00 | Ps. 102.55 | Ps. 102.55 |
| 244.00 | 110.00 | Ps. 0.00 | Ps. 102.55 | Ps. 102.55 |
| 255.09 | 115.00 | Ps. 0.00 | Ps. 102.55 | Ps. 102.55 |
| 266.18 | 120.00 | Ps. 0.00 | Ps. 102.55 | Ps. 102.55 |
| 277.28 | 125.00 | Ps. 0.00 | Ps. 102.55 | Ps. 102.55 |
| 288.37 | 130.00 | Ps. 0.00 | Ps. 102.55 | Ps. 102.55 |
| 299.46 | 135.00 | Ps. 0.00 | Ps. 102.55 | Ps. 102.55 |
| 310.55 | 140.00 | Ps. 0.00 | Ps. 102.55 | Ps. 102.55 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(xi) NVIDIA Corporation (NVDA\*)**

**Stock Market where it is quoted** 

NASDAQ

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 147 |

---

**Description:**

NVIDIA Corporation designs, develops, and markets 3D graphics processors and related software. It offers products that provide interactive 3D graphics to the mainstream personal computer market.

**Historical Evolution:**

*Comparison base: December 30th, 2017*

---

| | | | |
|:---|:---|:---|:---|
| **Period** | **Minimum price** | **Maximum price** | **Average (securities)** |
| 2017 | 48.38 | 48.38 | 27996464.00 |
| 2018 | 31.77 | 72.34 | 55388460.76 |
| 2019 | 32.00 | 59.84 | 46934681.16 |
| 2020 | 49.10 | 145.62 | 49148669.42 |
| 2021 | 115.93 | 333.76 | 36020525.87 |
| 1st Sem. 2020 | 49.10 | 95.27 | 55120464.92 |
| 2nd Sem. 2020 | 95.30 | 145.62 | 43241784.74 |
| 1st Sem. 2021 | 115.93 | 200.27 | 35986406.83 |
| 2nd Sem. 2021 | 181.61 | 333.76 | 36054088.63 |
| 1st Sem. 2022 | 151.59 | 301.21 | 55432700.73 |
| July 2022 | 145.23 | 181.63 | 51455686.06 |
| August 2022 | 150.94 | 192.15 | 52326861.68 |
| September 2022 | 121.39 | 145.05 | 63343158.20 |
| October 2022 | 112.27 | 138.34 | 60374269.97 |
| November 2022 | 132.19 | 169.23 | 49614645.83 |
| December 2022 | 140.36 | 180.72 | 42080151.67 |

---

**Historical Volatility:**

![](image_064.jpg)

*Source of Information on Historic Evolution and Historical Volatility: www.bloomberg.com.mx*

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 148 |

---

**Quantitative examples that illustrate possible gains or losses**

**NVD307L DC130**

![](image_065.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Market Price** | **Observed Price** | **Observation dates 1 to 8** | **Exercise dates 1 to 8** | **Exercise date 9** |
|  | 0 | Ps. 0.00 | Ps. 0.00 | Ps. 18.00 |
| 13.70 | 5 | Ps. 0.00 | Ps. 0.00 | Ps. 23.00 |
| 27.40 | 10 | Ps. 0.00 | Ps. 0.00 | Ps. 28.00 |
| 41.10 | 15 | Ps. 0.00 | Ps. 0.00 | Ps. 33.00 |
| 54.80 | 20 | Ps. 0.00 | Ps. 0.00 | Ps. 38.00 |
| 68.50 | 25 | Ps. 0.00 | Ps. 0.00 | Ps. 43.00 |
| 82.20 | 30 | Ps. 0.00 | Ps. 0.00 | Ps. 48.00 |
| 95.90 | 35 | Ps. 0.00 | Ps. 0.00 | Ps. 53.00 |
| 109.60 | 40 | Ps. 0.00 | Ps. 0.00 | Ps. 58.00 |
| 123.30 | 45 | Ps. 0.00 | Ps. 0.00 | Ps. 63.00 |
| 137.00 | 50 | Ps. 0.00 | Ps. 0.00 | Ps. 68.00 |
| 150.70 | 55 | Ps. 0.00 | Ps. 0.00 | Ps. 73.00 |
| 164.40 | 60 | Ps. 0.00 | Ps. 0.00 | Ps. 78.00 |
| 178.10 | 65 | Ps. 0.00 | Ps. 0.00 | Ps. 83.00 |
| 191.80 | 70 | Ps. 0.00 | Ps. 0.00 | Ps. 88.00 |
| 205.50 | 75 | Ps. 0.00 | Ps. 0.00 | Ps. 93.00 |
| 219.20 | 80 | Ps. 0.00 | Ps. 0.00 | Ps. 98.00 |
| 232.90 | 85 | Ps. 2.50 | Ps. 0.00 | Ps. 102.50 |
| 246.60 | 90 | Ps. 2.50 | Ps. 0.00 | Ps. 102.50 |
| 260.30 | 95 | Ps. 2.50 | Ps. 0.00 | Ps. 102.50 |
| 274.00 | 100 | Ps. 0.00 | Ps. 102.50 | Ps. 102.50 |
| 287.70 | 105 | Ps. 0.00 | Ps. 102.50 | Ps. 102.50 |
| 301.40 | 110 | Ps. 0.00 | Ps. 102.50 | Ps. 102.50 |
| 315.10 | 115 | Ps. 0.00 | Ps. 102.50 | Ps. 102.50 |
| 328.80 | 120 | Ps. 0.00 | Ps. 102.50 | Ps. 102.50 |
| 342.50 | 125 | Ps. 0.00 | Ps. 102.50 | Ps. 102.50 |
| 356.20 | 130 | Ps. 0.00 | Ps. 102.50 | Ps. 102.50 |
| 369.90 | 135 | Ps. 0.00 | Ps. 102.50 | Ps. 102.50 |
| 383.60 | 140 | Ps. 0.00 | Ps. 102.50 | Ps. 102.50 |

---

&nbsp;&nbsp;&nbsp;&nbsp;**(xii)** **Paypal Holdings, Inc. (PYPL\*)** 

**Stock Market where it is quoted** 

NASDAQ

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 149 |

---

**Description:**

PayPal Holdings, Inc. provides a technology platform that enables digital and mobile payments for consumers and merchants. Offers solutions for online payments. Serve clients all over the world.

**Historical Evolution:**

*Comparison base: December 30th, 2017*

---

| | | | |
|:---|:---|:---|:---|
| **Period** | **Minimum price** | **Maximum price** | **Average (securities)** |
| 2017 | 73.62 | 73.62 | 4496563.00 |
| 2018 | 71.73 | 93.07 | 9099226.95 |
| 2019 | 82.09 | 121.30 | 6802127.56 |
| 2020 | 85.26 | 243.49 | 8792352.13 |
| 2021 | 179.32 | 308.53 | 9209619.01 |
| 1st Sem. 2020 | 85.26 | 174.23 | 9256262.07 |
| 2nd Sem. 2020 | 169.81 | 243.49 | 8333484.69 |
| 1st Sem. 2021 | 226.09 | 304.79 | 8155617.28 |
| 2nd Sem. 2021 | 179.32 | 308.53 | 10246435.93 |
| 1st Sem. 2022 | 69.84 | 194.94 | 19615474.90 |
| July 2022 | 69.55 | 86.53 | 12677895.52 |
| August 2022 | 88.57 | 102.08 | 14087752.77 |
| September 2022 | 84.26 | 97.66 | 12494020.80 |
| October 2022 | 80.47 | 94.42 | 12894986.84 |
| November 2022 | 75.18 | 91.03 | 16787473.97 |
| December 2022 | 67.55 | 78.53 | 15954150.70 |

---

**Historical volatility**![](image_067.jpg)

*Source of Information on Historic Evolution and Historical Volatility: www.bloomberg.com.mx*

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 150 |

---

**Quantitative examples that illustrate possible gains or losses** 

**PYL306L DC043**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Market Price** | **Observed Price** | **Observation dates 1 to 5** | **Exercise dates 1 to 5** | **Exercise date 6** |
| 0.00 | 0.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 9.58 | 5.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 19.17 | 10.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 28.75 | 15.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 38.34 | 20.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 47.92 | 25.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 57.50 | 30.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 67.09 | 35.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 76.67 | 40.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 86.26 | 45.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 95.84 | 50.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 105.42 | 55.00 | Ps. 0.00 | Ps. 0.00 | Ps. 55.00 |
| 115.01 | 60.00 | Ps. 0.00 | Ps. 0.00 | Ps. 60.00 |
| 124.59 | 65.00 | Ps. 0.00 | Ps. 0.00 | Ps. 65.00 |
| 134.18 | 70.00 | Ps. 0.00 | Ps. 0.00 | Ps. 70.00 |
| 143.76 | 75.00 | Ps. 0.00 | Ps. 0.00 | Ps. 75.00 |
| 153.34 | 80.00 | Ps. 0.00 | Ps. 0.00 | Ps. 80.00 |
| 162.93 | 85.00 | Ps. 3.50 | Ps. 0.00 | Ps. 103.50 |
| 172.51 | 90.00 | Ps. 3.50 | Ps. 0.00 | Ps. 103.50 |
| 182.10 | 95.00 | Ps. 3.50 | Ps. 0.00 | Ps. 103.50 |
| 191.68 | 100.00 | Ps. 3.50 | Ps. 0.00 | Ps. 103.50 |
| 201.26 | 105.00 | Ps. 0.00 | Ps. 103.50 | Ps. 103.50 |
| 210.85 | 110.00 | Ps. 0.00 | Ps. 103.50 | Ps. 103.50 |
| 220.43 | 115.00 | Ps. 0.00 | Ps. 103.50 | Ps. 103.50 |
| 230.02 | 120.00 | Ps. 0.00 | Ps. 103.50 | Ps. 103.50 |
| 239.60 | 125.00 | Ps. 0.00 | Ps. 103.50 | Ps. 103.50 |
| 249.18 | 130.00 | Ps. 0.00 | Ps. 103.50 | Ps. 103.50 |
| 258.77 | 135.00 | Ps. 0.00 | Ps. 103.50 | Ps. 103.50 |
| 268.35 | 140.00 | Ps. 0.00 | Ps. 103.50 | Ps. 103.50 |

---

&nbsp;&nbsp;&nbsp;&nbsp;**(xiii)** **Qualcomm, Inc. (QCOM\*)** 

**Stock Market where it is quoted** 

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 151 |

---

NASDAQ

**Description:**

Qualcomm Incorporated operates as a multinational telecommunications and semiconductor equipment company. Develops and provides digital communications products and services based on CDMA digital technology. It serves clients all over the world.

**Historical Evolution:**

![](image_069.jpg)

*Comparison base: December 30th, 2017* 

---

| | | | |
|:---|:---|:---|:---|
| **Period** | **Minimum price** | **Maximum price** | **Average (securities)** |
| 2017 | 64.02 | 64.02 | 6631823.00 |
| 2018 | 49.75 | 75.09 | 13151429.90 |
| 2019 | 49.40 | 94.03 | 13469384.25 |
| 2020 | 60.91 | 158.80 | 10059898.88 |
| 2021 | 122.95 | 189.28 | 9081990.38 |
| 1st Sem. 2020 | 60.91 | 95.91 | 11446137.92 |
| 2nd Sem. 2020 | 88.89 | 158.80 | 8688727.65 |
| 1st Sem. 2021 | 123.20 | 164.78 | 9701768.04 |
| 2nd Sem. 2021 | 122.95 | 189.28 | 8472317.79 |
| 1st Sem. 2022 | 120.09 | 188.69 | 10939694.23 |
| July 2022 | 123.53 | 155.86 | 8923772.45 |
| August 2022 | 132.27 | 152.13 | 6081442.42 |
| September 2022 | 112.98 | 133.00 | 8125066.17 |
| October 2022 | 108.64 | 125.28 | 7964482.55 |
| November 2022 | 103.88 | 126.49 | 8807062.90 |
| December 2022 | 106.97 | 126.81 | 7432655.23 |

---

**Historical volatility**![](image_070.jpg)

*Source of Information on Historic Evolution and Historical Volatility: www.bloomberg.com.mx*

**Quantitative examples that illustrate possible gains or losses**

**QCM401R DC012**

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 152 |

---

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps.97.50 |
| 6.35 | 5.00 | Ps.97.50 |
| 12.71 | 10.00 | Ps.97.50 |
| 19.06 | 15.00 | Ps.97.50 |
| 25.41 | 20.00 | Ps.97.50 |
| 31.77 | 25.00 | Ps.97.50 |
| 38.12 | 30.00 | Ps.97.50 |
| 44.47 | 35.00 | Ps.97.50 |
| 50.82 | 40.00 | Ps.97.50 |
| 57.18 | 45.00 | Ps.97.50 |
| 63.53 | 50.00 | Ps.97.50 |
| 69.88 | 55.00 | Ps.97.50 |
| 76.24 | 60.00 | Ps.97.50 |
| 82.59 | 65.00 | Ps.97.50 |
| 88.94 | 70.00 | Ps.97.50 |
| 95.30 | 75.00 | Ps.97.50 |
| 101.65 | 80.00 | Ps.97.50 |
| 108.00 | 85.00 | Ps.97.50 |
| 114.35 | 90.00 | Ps.97.50 |
| 120.71 | 95.00 | Ps.97.50 |
| 127.06 | 100.00 | Ps.100.00 |
| 133.41 | 105.00 | Ps.105.00 |
| 139.77 | 110.00 | Ps.110.00 |
| 146.12 | 115.00 | Ps.115.00 |
| 152.47 | 120.00 | Ps.120.00 |
| 158.83 | 125.00 | Ps.125.00 |
| 165.18 | 130.00 | Ps.130.00 |
| 171.53 | 135.00 | Ps.135.00 |
| 177.88 | 140.00 | Ps.140.00 |
| 184.24 | 145.00 | Ps.145.00 |
| 190.59 | 150.00 | Ps.150.00 |
| 196.94 | 155.00 | Ps.155.00 |
| 203.30 | 160.00 | Ps.160.00 |
| 209.65 | 165.00 | Ps.165.00 |
| 216.00 | 170.00 | Ps.170.00 |
| 222.36 | 175.00 | Ps.120.00 |
| 228.71 | 180.00 | Ps.120.00 |
| 235.06 | 185.00 | Ps.120.00 |

---

&nbsp;&nbsp;&nbsp;&nbsp;**(xiv)** **Invesco QQQ Trust (QQQ \*)** 

**Stock Market where it is quoted:** 

NASDAQ

**Description:**

Invesco QQQ Trust Series 1 is a US-incorporated exchange-traded fund. The ETF tracks the Nasdaq 100 index and includes 100 of the largest non-financial companies by market capitalization listed on Nasdaq. The index reflects companies of major industrial groups, including computer hardware and software, telecommunications, retail retail/wholesale and biotech.

**Historical Evolution:** 

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 153 |

---

![](image_072.jpg)

*Comparison base: December 30th, 2017*

---

| | | | |
|:---|:---|:---|:---|
| **Period** | **Minimum price** | **Maximum price** | **Average (securities)** |
| 2017 | 155.76 | 155.76 | 33185962.00 |
| 2018 | 143.50 | 186.74 | 48323593.31 |
| 2019 | 149.82 | 213.79 | 30892183.34 |
| 2020 | 169.30 | 313.74 | 47546330.57 |
| 2021 | 299.94 | 403.99 | 43829887.25 |
| 1st Sem. 2020 | 169.30 | 248.84 | 53446338.17 |
| 2nd Sem. 2020 | 250.49 | 313.74 | 41710453.48 |
| 1st Sem. 2021 | 299.94 | 354.99 | 45070410.82 |
| 2nd Sem. 2021 | 352.62 | 403.99 | 42609589.61 |
| 1st Sem. 2022 | 271.39 | 401.68 | 79933540.60 |
| July 2022 | 282.13 | 315.46 | 58862444.16 |
| August 2022 | 299.27 | 333.06 | 48431900.35 |
| September 2022 | 267.26 | 310.74 | 66223697.27 |
| October 2022 | 260.74 | 284.21 | 67499208.65 |
| November 2022 | 260.49 | 293.36 | 55694325.63 |
| December 2022 | 260.10 | 293.72 | 50488213.90 |

---

**Historical volatility**![](image_073.jpg)

*Source of Information on Historic Evolution and Historical Volatility: www.bloomberg.com.mx*

**Quantitative examples that illustrate possible gains or losses**

**QQQ306R DC033**

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 154 |

---

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |

---

0.00 0.00 Ps.100.00

15.41 5.00 Ps.100.00

30.83 10.00 Ps.100.00

46.24 15.00 Ps.100.00

61.66 20.00 Ps.100.00

77.07 25.00 Ps.100.00

92.48 30.00 Ps.100.00

107.90 35.00 Ps.100.00

123.31 40.00 Ps.100.00

138.73 45.00 Ps.100.00

154.14 50.00 Ps.100.00

169.55 55.00 Ps.100.00

184.97 60.00 Ps.100.00

200.38 65.00 Ps.100.00

215.80 70.00 Ps.100.00

231.21 75.00 Ps.100.00

246.62 80.00 Ps.100.00

262.04 85.00 Ps.100.00

277.45 90.00 Ps.100.00

292.87 95.00 Ps.100.00

308.28 100.00 Ps.100.00

323.69 105.00 Ps.105.00

339.11 110.00 Ps.110.00

354.52 115.00 Ps.115.00

369.94 120.00 Ps.120.00

385.35 125.00 Ps.108.00

400.76 130.00 Ps.108.00

416.18 135.00 Ps.108.00

431.59 140.00 Ps.108.00

447.01 145.00 Ps.108.00

462.42 150.00 Ps.108.00

477.83 155.00 Ps.108.00

493.25 160.00 Ps.108.00

508.66 165.00 Ps.108.00

524.08 170.00 Ps.108.00

**QQQ306R DC034**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 90.00 |
| 15.41 | 5.00 | Ps. 90.00 |
| 30.83 | 10.00 | Ps. 90.00 |
| 46.24 | 15.00 | Ps. 90.00 |
| 61.66 | 20.00 | Ps. 90.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 155 |

---

77.07 25.00 Ps. 90.00

92.48 30.00 Ps. 90.00

107.90 35.00 Ps. 90.00

123.31 40.00 Ps. 90.00

138.73 45.00 Ps. 90.00

154.14 50.00 Ps. 90.00

169.55 55.00 Ps. 90.00

184.97 60.00 Ps. 90.00

200.38 65.00 Ps. 90.00

215.80 70.00 Ps. 90.00

231.21 75.00 Ps. 90.00

246.62 80.00 Ps. 90.00

262.04 85.00 Ps. 90.00

277.45 90.00 Ps. 90.00

286.70 95.00 Ps. 93.00

292.87 100.00 Ps. 95.00

308.28 105.00 Ps. 100.00

311.36 110.00 Ps. 101.00

317.53 115.00 Ps. 103.00

332.94 120.00 Ps. 108.00

339.11 125.00 Ps. 110.00

354.52 130.00 Ps. 115.00

369.94 135.00 Ps. 120.00

400.76 140.00 Ps. 130.00

413.10 145.00 Ps. 134.00

428.51 150.00 Ps. 112.00

443.92 155.00 Ps. 112.00

459.34 160.00 Ps. 112.00

474.75 165.00 Ps. 112.00

490.17 170.00 Ps. 112.00

**QQQ307R DC035**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 100.00 |
| 14.01 | 5.00 | Ps. 100.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 156 |

---

28.03 10.00 Ps. 100.00

42.04 15.00 Ps. 100.00

56.06 20.00 Ps. 100.00

70.07 25.00 Ps. 100.00

84.08 30.00 Ps. 100.00

98.10 35.00 Ps. 100.00

112.11 40.00 Ps. 100.00

126.13 45.00 Ps. 100.00

140.14 50.00 Ps. 100.00

154.15 55.00 Ps. 100.00

168.17 60.00 Ps. 100.00

182.18 65.00 Ps. 100.00

196.20 70.00 Ps. 100.00

210.21 75.00 Ps. 100.00

224.22 80.00 Ps. 100.00

238.24 85.00 Ps. 100.00

252.25 90.00 Ps. 100.00

266.27 95.00 Ps. 100.00

280.28 100.00 Ps. 100.00

294.29 105.00 Ps. 105.00

308.31 110.00 Ps. 110.00

322.32 115.00 Ps. 115.00

336.34 120.00 Ps. 120.00

350.35 125.00 Ps. 110.00

364.36 130.00 Ps. 110.00

378.38 135.00 Ps. 110.00

392.39 140.00 Ps. 110.00

406.41 145.00 Ps. 110.00

420.42 150.00 Ps. 110.00

434.43 155.00 Ps. 110.00

448.45 160.00 Ps. 110.00

462.46 165.00 Ps. 110.00

476.48 170.00 Ps. 110.00

**QQQ307R DC036**

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 157 |

---

---

| | | |
|:---|:---|:---|
| **Observed price** | **Market price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 100.00 |
| 5.00 | 15.37 | Ps. 100.00 |
| 10.00 | 30.74 | Ps. 100.00 |
| 15.00 | 46.11 | Ps. 100.00 |
| 20.00 | 61.48 | Ps. 100.00 |
| 25.00 | 76.85 | Ps. 100.00 |
| 30.00 | 92.21 | Ps. 100.00 |
| 35.00 | 107.58 | Ps. 100.00 |
| 40.00 | 122.95 | Ps. 100.00 |
| 45.00 | 138.32 | Ps. 100.00 |
| 50.00 | 153.69 | Ps. 100.00 |
| 55.00 | 169.06 | Ps. 100.00 |
| 60.00 | 184.43 | Ps. 100.00 |
| 65.00 | 199.80 | Ps. 100.00 |
| 70.00 | 215.17 | Ps. 100.00 |
| 75.00 | 230.54 | Ps. 100.00 |
| 80.00 | 245.90 | Ps. 100.00 |
| 85.00 | 261.27 | Ps. 100.00 |
| 90.00 | 276.64 | Ps. 100.00 |
| 95.00 | 292.01 | Ps. 100.00 |
| 100.00 | 307.38 | Ps. 100.00 |
| 105.00 | 322.75 | Ps. 105.00 |
| 110.00 | 338.12 | Ps. 110.00 |
| 115.00 | 353.49 | Ps. 115.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 158 |

---

120.00 368.86 Ps. 120.00

125.00 384.23 Ps. 112.50

130.00 399.59 Ps. 112.50

135.00 414.96 Ps. 112.50

140.00 430.33 Ps. 112.50

145.00 445.70 Ps. 112.50

150.00 461.07 Ps. 112.50

155.00 476.44 Ps. 112.50

160.00 491.81 Ps. 112.50

165.00 507.18 Ps. 112.50

170.00 522.55 Ps. 112.50

**QQQ308R DC039**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed Price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 100.00 |
| 16.03 | 5.00 | Ps. 100.00 |
| 32.06 | 10.00 | Ps. 100.00 |
| 48.09 | 15.00 | Ps. 100.00 |
| 64.12 | 20.00 | Ps. 100.00 |
| 80.15 | 25.00 | Ps. 100.00 |
| 96.17 | 30.00 | Ps. 100.00 |
| 112.20 | 35.00 | Ps. 100.00 |
| 128.23 | 40.00 | Ps. 100.00 |
| 144.26 | 45.00 | Ps. 100.00 |
| 160.29 | 50.00 | Ps. 100.00 |
| 176.32 | 55.00 | Ps. 100.00 |
| 192.35 | 60.00 | Ps. 100.00 |
| 208.38 | 65.00 | Ps. 100.00 |
| 224.41 | 70.00 | Ps. 100.00 |
| 240.44 | 75.00 | Ps. 100.00 |
| 256.46 | 80.00 | Ps. 100.00 |
| 272.49 | 85.00 | Ps. 100.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 159 |

---

288.52 90.00 Ps. 100.00

304.55 95.00 Ps. 100.00

320.58 100.00 Ps. 100.00

336.61 105.00 Ps. 105.00

352.64 110.00 Ps. 110.00

368.67 115.00 Ps. 115.00

384.70 120.00 Ps. 120.00

400.73 125.00 Ps. 113.50

416.75 130.00 Ps. 113.50

432.78 135.00 Ps. 113.50

448.81 140.00 Ps. 113.50

464.84 145.00 Ps. 113.50

480.87 150.00 Ps. 113.50

496.90 155.00 Ps. 113.50

512.93 160.00 Ps. 113.50

528.96 165.00 Ps. 113.50

544.99 170.00 Ps. 113.50

**QQQ309R DC041**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 100.00 |
| 14.96 | 5.00 | Ps. 100.00 |
| 29.93 | 10.00 | Ps. 100.00 |
| 44.89 | 15.00 | Ps. 100.00 |
| 59.85 | 20.00 | Ps. 100.00 |
| 74.82 | 25.00 | Ps. 100.00 |
| 89.78 | 30.00 | Ps. 100.00 |
| 104.74 | 35.00 | Ps. 100.00 |
| 119.71 | 40.00 | Ps. 100.00 |
| 134.67 | 45.00 | Ps. 100.00 |
| 149.64 | 50.00 | Ps. 100.00 |
| 164.60 | 55.00 | Ps. 100.00 |
| 179.56 | 60.00 | Ps. 100.00 |
| 194.53 | 65.00 | Ps. 100.00 |
| 209.49 | 70.00 | Ps. 100.00 |
| 224.45 | 75.00 | Ps. 100.00 |
| 239.42 | 80.00 | Ps. 100.00 |
| 254.38 | 85.00 | Ps. 100.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 160 |

---

269.34 90.00 Ps. 100.00

284.31 95.00 Ps. 100.00

299.27 100.00 Ps. 100.00

314.23 105.00 Ps. 105.00

329.20 110.00 Ps. 110.00

344.16 115.00 Ps. 115.00

359.12 120.00 Ps. 120.00

374.09 125.00 Ps. 113.50

389.05 130.00 Ps. 113.50

404.01 135.00 Ps. 113.50

418.98 140.00 Ps. 113.50

433.94 145.00 Ps. 113.50

448.91 150.00 Ps. 113.50

463.87 155.00 Ps. 113.50

478.83 160.00 Ps. 113.50

493.80 165.00 Ps. 113.50

508.76 170.00 Ps. 113.50

**QQQ309R DC042**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed Price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 100.00 |
| 14.00 | 5.00 | Ps. 100.00 |
| 28.01 | 10.00 | Ps. 100.00 |
| 42.01 | 15.00 | Ps. 100.00 |
| 56.01 | 20.00 | Ps. 100.00 |
| 70.02 | 25.00 | Ps. 100.00 |
| 84.02 | 30.00 | Ps. 100.00 |
| 98.02 | 35.00 | Ps. 100.00 |
| 112.03 | 40.00 | Ps. 100.00 |
| 126.03 | 45.00 | Ps. 100.00 |
| 140.04 | 50.00 | Ps. 100.00 |
| 154.04 | 55.00 | Ps. 100.00 |
| 168.04 | 60.00 | Ps. 100.00 |
| 182.05 | 65.00 | Ps. 100.00 |
| 196.05 | 70.00 | Ps. 100.00 |
| 210.05 | 75.00 | Ps. 100.00 |
| 224.06 | 80.00 | Ps. 100.00 |
| 238.06 | 85.00 | Ps. 100.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 161 |

---

252.06 90.00 Ps. 100.00

266.07 95.00 Ps. 100.00

280.07 100.00 Ps. 100.00

294.07 105.00 Ps. 105.00

308.08 110.00 Ps. 110.00

322.08 115.00 Ps. 115.00

336.08 120.00 Ps. 120.00

350.09 125.00 Ps. 114.50

364.09 130.00 Ps. 114.50

378.09 135.00 Ps. 114.50

392.10 140.00 Ps. 114.50

406.10 145.00 Ps. 114.50

420.11 150.00 Ps. 114.50

434.11 155.00 Ps. 114.50

448.11 160.00 Ps. 114.50

462.12 165.00 Ps. 114.50

476.12 170.00 Ps. 114.50

**QQQ310R DC043**

---

| | | |
|:---|:---|:---|
| **Market**<br>**price**<br>| **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 100.00 |
| 13.59 | 5.00 | Ps. 100.00 |
| 27.19 | 10.00 | Ps. 100.00 |
| 40.78 | 15.00 | Ps. 100.00 |
| 54.37 | 20.00 | Ps. 100.00 |
| 67.97 | 25.00 | Ps. 100.00 |
| 81.56 | 30.00 | Ps. 100.00 |
| 95.15 | 35.00 | Ps. 100.00 |
| 108.75 | 40.00 | Ps. 100.00 |
| 122.34 | 45.00 | Ps. 100.00 |
| 135.94 | 50.00 | Ps. 100.00 |
| 149.53 | 55.00 | Ps. 100.00 |
| 163.12 | 60.00 | Ps. 100.00 |
| 176.72 | 65.00 | Ps. 100.00 |
| 190.31 | 70.00 | Ps. 100.00 |
| 203.90 | 75.00 | Ps. 100.00 |
| 217.50 | 80.00 | Ps. 100.00 |
| 231.09 | 85.00 | Ps. 100.00 |
| 244.68 | 90.00 | Ps. 100.00 |
| 258.28 | 95.00 | Ps. 100.00 |
| 271.87 | 100.00 | Ps. 100.00 |
| 285.46 | 105.00 | Ps. 105.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 162 |

---

299.06 110.00 Ps. 110.00

312.65 115.00 Ps. 115.00

326.24 120.00 Ps. 120.00

339.84 125.00 Ps. 115.50

353.43 130.00 Ps. 115.50

367.02 135.00 Ps. 115.50

380.62 140.00 Ps. 115.50

394.21 145.00 Ps. 115.50

407.81 150.00 Ps. 115.50

421.40 155.00 Ps. 115.50

434.99 160.00 Ps. 115.50

448.59 165.00 Ps. 115.50

462.18 170.00 Ps. 115.50

**QQQ406R DC052**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 95.00 |
| 4.73 | 5.00 | Ps. 95.00 |
| 9.45 | 10.00 | Ps. 95.00 |
| 14.18 | 15.00 | Ps. 95.00 |
| 18.90 | 20.00 | Ps. 95.00 |
| 23.63 | 25.00 | Ps. 95.00 |
| 28.35 | 30.00 | Ps. 95.00 |
| 33.08 | 35.00 | Ps. 95.00 |
| 37.80 | 40.00 | Ps. 95.00 |
| 42.53 | 45.00 | Ps. 95.00 |
| 47.26 | 50.00 | Ps. 95.00 |
| 51.98 | 55.00 | Ps. 95.00 |
| 56.71 | 60.00 | Ps. 95.00 |
| 61.43 | 65.00 | Ps. 95.00 |
| 66.16 | 70.00 | Ps. 95.00 |
| 70.88 | 75.00 | Ps. 95.00 |
| 75.61 | 80.00 | Ps. 95.00 |
| 80.33 | 85.00 | Ps. 95.00 |
| 85.06 | 90.00 | Ps. 95.00 |
| 89.78 | 95.00 | Ps. 95.00 |
| 92.15 | 97.50 | Ps. 97.50 |
| 92.62 | 98.00 | Ps. 98.00 |
| 93.56 | 99.00 | Ps. 99.00 |
| 94.51 | 100.00 | Ps. 100.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 163 |

---

99.24 105.00 Ps. 105.00

103.96 110.00 Ps. 110.00

108.69 115.00 Ps. 115.00

113.41 120.00 Ps. 120.00

118.14 125.00 Ps. 125.00

122.86 130.00 Ps. 130.00

127.59 135.00 Ps. 135.00

130.42 138.00 Ps. 138.00

135.15 143.00 Ps. 121.00

139.87 148.00 Ps. 121.00

144.60 153.00 Ps. 121.00

149.33 158.00 Ps. 121.00

154.05 163.00 Ps. 121.00

158.78 168.00 Ps. 121.00

163.50 173.00 Ps. 121.00

168.23 178.00 Ps. 121.00

&nbsp;&nbsp;&nbsp;&nbsp;**(xv)** **ISHARES SEMICONDUCTOR ETF (SOXX \*)** 

**Stock Market where it is quoted**

NASDAQ

**Description:**

iShares Semiconductor ETF is a US-incorporated exchange-traded fund. It seeks investment results that align with the performance of the ICE Semiconductor Index which is made up of US-listed stocks in the semiconductor sector.

**Historical Evolution:**

![](image_083.jpg)

*Comparison base: December 30th, 2017*

---

| | | | |
|:---|:---|:---|:---|
| **Period** | **Minimum price** | **Maximum price** | **Average (securities)** |
| 2017 | 169.81 | 169.81 | 253535.00 |
| 2018 | 145.00 | 196.31 | 787218.49 |
| 2019 | 148.71 | 252.82 | 619474.10 |
| 2020 | 176.66 | 382.56 | 789316.37 |
| 2021 | 375.21 | 555.63 | 972272.17 |
| 1st Sem. 2020 | 176.66 | 272.82 | 1046450.71 |
| 2nd Sem. 2020 | 267.40 | 382.56 | 534976.98 |
| 1st Sem. 2021 | 375.21 | 454.22 | 1179415.41 |
| 2nd Sem. 2021 | 426.32 | 555.63 | 768506.27 |
| 1st Sem. 2022 | 349.61 | 553.10 | 1551260.41 |
| July 2022 | 337.24 | 407.33 | 1129942.16 |
| August 2022 | 369.69 | 423.32 | 868297.10 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 164 |

---

---

| | | | |
|:---|:---|:---|:---|
| September 2022 | 318.73 | 377.42 | 1042868.00 |
| October 2022 | 298.68 | 348.04 | 1223488.55 |
| November 2022 | 314.45 | 388.03 | 1228363.50 |
| December 2022 | 337.53 | 386.59 | 936,708.50 |

---

**Historical volatility**![](image_084.jpg)

*Source of Information on Historic Evolution and Historical Volatility: www.bloomberg.com.mx*

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 165 |

---

**Quantitative examples that illustrate possible gains or losses**

**SOX307R DC003**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed Price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 97.50 |
| 17.48 | 5.00 | Ps. 97.50 |
| 34.96 | 10.00 | Ps. 97.50 |
| 52.44 | 15.00 | Ps. 97.50 |
| 69.92 | 20.00 | Ps. 97.50 |
| 87.40 | 25.00 | Ps. 97.50 |
| 104.88 | 30.00 | Ps. 97.50 |
| 122.36 | 35.00 | Ps. 97.50 |
| 139.84 | 40.00 | Ps. 97.50 |
| 157.32 | 45.00 | Ps. 97.50 |
| 174.81 | 50.00 | Ps. 97.50 |
| 192.29 | 55.00 | Ps. 97.50 |
| 209.77 | 60.00 | Ps. 97.50 |
| 227.25 | 65.00 | Ps. 97.50 |
| 244.73 | 70.00 | Ps. 97.50 |
| 262.21 | 75.00 | Ps. 97.50 |
| 279.69 | 80.00 | Ps. 97.50 |
| 297.17 | 85.00 | Ps. 97.50 |
| 314.65 | 90.00 | Ps. 97.50 |
| 325.14 | 93.00 | Ps. 97.50 |
| 332.13 | 95.00 | Ps. 97.50 |
| 349.61 | 100.00 | Ps. 100.00 |
| 353.11 | 101.00 | Ps. 101.00 |
| 360.10 | 103.00 | Ps. 103.00 |
| 377.58 | 108.00 | Ps. 108.00 |
| 384.57 | 110.00 | Ps. 110.00 |
| 402.05 | 115.00 | Ps. 115.00 |
| 419.53 | 120.00 | Ps. 120.00 |
| 454.49 | 130.00 | Ps. 130.00 |
| 468.48 | 134.00 | Ps. 134.00 |
| 485.96 | 139.00 | Ps. 110.00 |
| 503.44 | 144.00 | Ps. 110.00 |
| 520.92 | 149.00 | Ps. 110.00 |
| 538.40 | 154.00 | Ps. 110.00 |
| 555.88 | 159.00 | Ps. 110.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 166 |

---

**SOX307R DC005**

---

| | | |
|:---|:---|:---|
| **Market Price** | **Observed Price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 97.50 |
| 19.42 | 5.00 | Ps. 97.50 |
| 38.83 | 10.00 | Ps. 97.50 |
| 58.25 | 15.00 | Ps. 97.50 |
| 77.66 | 20.00 | Ps. 97.50 |
| 97.08 | 25.00 | Ps. 97.50 |
| 116.49 | 30.00 | Ps. 97.50 |
| 135.91 | 35.00 | Ps. 97.50 |
| 155.32 | 40.00 | Ps. 97.50 |
| 174.74 | 45.00 | Ps. 97.50 |
| 194.15 | 50.00 | Ps. 97.50 |
| 213.57 | 55.00 | Ps. 97.50 |
| 232.98 | 60.00 | Ps. 97.50 |
| 252.40 | 65.00 | Ps. 97.50 |
| 271.81 | 70.00 | Ps. 97.50 |
| 291.23 | 75.00 | Ps. 97.50 |
| 310.64 | 80.00 | Ps. 97.50 |
| 330.06 | 85.00 | Ps. 97.50 |
| 349.47 | 90.00 | Ps. 97.50 |
| 361.12 | 93.00 | Ps. 97.50 |
| 368.89 | 95.00 | Ps. 97.50 |
| 388.30 | 100.00 | Ps. 100.00 |
| 392.18 | 101.00 | Ps. 101.00 |
| 399.95 | 103.00 | Ps. 103.00 |
| 419.36 | 108.00 | Ps. 108.00 |
| 427.13 | 110.00 | Ps. 110.00 |
| 446.55 | 115.00 | Ps. 115.00 |
| 465.96 | 120.00 | Ps. 120.00 |
| 504.79 | 130.00 | Ps. 130.00 |
| 520.32 | 134.00 | Ps. 134.00 |
| 539.74 | 139.00 | Ps. 111.00 |
| 559.15 | 144.00 | Ps. 111.00 |
| 578.57 | 149.00 | Ps. 111.00 |
| 597.98 | 154.00 | Ps. 111.00 |
| 617.40 | 159.00 | Ps. 111.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 167 |

---

**SOX309R DC006**

---

| | | |
|:---|:---|:---|
| **Market Price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 97.50 |
| 18.48 | 5.00 | Ps. 97.50 |
| 36.97 | 10.00 | Ps. 97.50 |
| 55.45 | 15.00 | Ps. 97.50 |
| 73.94 | 20.00 | Ps. 97.50 |
| 92.42 | 25.00 | Ps. 97.50 |
| 110.91 | 30.00 | Ps. 97.50 |
| 129.39 | 35.00 | Ps. 97.50 |
| 147.88 | 40.00 | Ps. 97.50 |
| 166.36 | 45.00 | Ps. 97.50 |
| 184.85 | 50.00 | Ps. 97.50 |
| 203.33 | 55.00 | Ps. 97.50 |
| 221.81 | 60.00 | Ps. 97.50 |
| 240.30 | 65.00 | Ps. 97.50 |
| 258.78 | 70.00 | Ps. 97.50 |
| 277.27 | 75.00 | Ps. 97.50 |
| 295.75 | 80.00 | Ps. 97.50 |
| 314.24 | 85.00 | Ps. 97.50 |
| 332.72 | 90.00 | Ps. 97.50 |
| 343.81 | 93.00 | Ps. 97.50 |
| 351.21 | 95.00 | Ps. 97.50 |
| 369.69 | 100.00 | Ps. 100.00 |
| 373.39 | 101.00 | Ps. 101.00 |
| 380.78 | 103.00 | Ps. 103.00 |
| 399.27 | 108.00 | Ps. 108.00 |
| 406.66 | 110.00 | Ps. 110.00 |
| 425.14 | 115.00 | Ps. 115.00 |
| 443.63 | 120.00 | Ps. 120.00 |
| 480.60 | 130.00 | Ps. 130.00 |
| 495.38 | 134.00 | Ps. 134.00 |
| 513.87 | 139.00 | Ps. 112.00 |
| 532.35 | 144.00 | Ps. 112.00 |
| 550.84 | 149.00 | Ps. 112.00 |
| 569.32 | 154.00 | Ps. 112.00 |
| 587.81 | 159.00 | Ps. 112.00 |

---

&nbsp;&nbsp;&nbsp;&nbsp;**(xvi)** **SPDR S&P 500 ETF Trust (SPY\*)** 

**Stock Market where it is quoted**

New York Stock Exchange

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 168 |

---

**Description:**

SPDR S&P 500 ETF Trust is a US-incorporated Exchange-Traded Fund. Tracks the S&P 500 Index. Comprises portfolio representing all 500 stocks in the S&P 500 Index. Owned mostly large-cap US stocks. Structure as a real estate investment unit and pay dividends every quarter. Positions are weighted by market capitalization.

**Historical Evolution:**

![](image_088.jpg)

*Comparison base: December 30th, 2017* 

---

| | | | |
|:---|:---|:---|:---|
| **Period** | **Minimum price** | **Maximum price** | **Average (securities)** |
| 2017 | 266.86 | 266.86 | 96007424.00 |
| 2018 | 234.34 | 293.58 | 100468590.17 |
| 2019 | 244.21 | 322.94 | 72522148.50 |
| 2020 | 222.95 | 373.88 | 102732265.23 |
| 2021 | 368.79 | 477.48 | 75508818.86 |
| 1st Sem. 2020 | 222.95 | 338.34 | 135683264.80 |
| 2nd Sem. 2020 | 310.52 | 373.88 | 70139428.71 |
| 1st Sem. 2021 | 368.79 | 428.06 | 78234150.76 |
| 2nd Sem. 2021 | 424.97 | 477.48 | 72827921.72 |
| 1st Sem. 2022 | 365.86 | 477.71 | 109649016.60 |
| July 2022 | 377.91 | 411.99 | 73664060.03 |
| August 2022 | 395.18 | 429.70 | 65250355.03 |
| September 2022 | 357.18 | 410.97 | 96736086.43 |
| October 2022 | 356.56 | 389.02 | 105093161.65 |
| November 2022 | 371.01 | 407.68 | 81866748.30 |
| December 2022 | 376.66 | 407.38 | 82961417.67 |

---

**Historical volatility:**

![](image_089.jpg)

*Source of Information on Historic Evolution and Historical Volatility: www.bloomberg.com.mx*

**Quantitative examples that illustrate possible gains or losses**

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 169 |

---

**SPY303R DC149** 

---

| | | |
|:---|:---|:---|
| **Market Price** | **Observed Price** | **Payment rights** |
| 0.00 | 0.00 | Ps. 95.00 |
| 22.19 | 5.00 | Ps. 95.00 |
| 44.38 | 10.00 | Ps. 95.00 |
| 66.57 | 15.00 | Ps. 95.00 |
| 88.76 | 20.00 | Ps. 95.00 |
| 110.95 | 25.00 | Ps. 95.00 |
| 133.14 | 30.00 | Ps. 95.00 |
| 155.33 | 35.00 | Ps. 95.00 |
| 177.52 | 40.00 | Ps. 95.00 |
| 199.71 | 45.00 | Ps. 95.00 |
| 221.90 | 50.00 | Ps. 95.00 |
| 244.09 | 55.00 | Ps. 95.00 |
| 266.28 | 60.00 | Ps. 95.00 |
| 288.47 | 65.00 | Ps. 95.00 |
| 310.66 | 70.00 | Ps. 95.00 |
| 332.85 | 75.00 | Ps. 95.00 |
| 355.04 | 80.00 | Ps. 95.00 |
| 377.23 | 85.00 | Ps. 95.00 |
| 399.42 | 90.00 | Ps. 100.00 |
| 421.61 | 95.00 | Ps. 100.00 |
| 443.80 | 100.00 | Ps. 100.00 |
| 465.99 | 105.00 | Ps. 105.00 |
| 488.18 | 110.00 | Ps. 110.00 |
| 510.37 | 115.00 | Ps. 115.00 |
| 532.56 | 120.00 | Ps. 120.00 |
| 554.75 | 125.00 | Ps. 125.00 |
| 576.94 | 130.00 | Ps. 108.00 |
| 599.13 | 135.00 | Ps. 108.00 |
| 621.32 | 140.00 | Ps. 108.00 |
| 643.51 | 145.00 | Ps. 108.00 |
| 665.70 | 150.00 | Ps. 108.00 |
| 687.89 | 155.00 | Ps. 108.00 |
| 710.08 | 160.00 | Ps. 108.00 |
| 732.27 | 165.00 | Ps. 108.00 |
| 754.46 | 170.00 | Ps. 108.00 |

---

**SPY304R DC152**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 170 |

---

0.00 0.00 Ps.100.00

22.17 5.00 Ps.100.00

44.33 10.00 Ps.100.00

66.50 15.00 Ps.100.00

88.66 20.00 Ps.100.00

110.83 25.00 Ps.100.00

132.99 30.00 Ps.100.00

155.16 35.00 Ps.100.00

177.32 40.00 Ps.100.00

199.49 45.00 Ps.100.00

221.66 50.00 Ps.100.00

243.82 55.00 Ps.100.00

265.99 60.00 Ps.100.00

288.15 65.00 Ps.100.00

310.32 70.00 Ps.100.00

332.48 75.00 Ps.100.00

354.65 80.00 Ps.100.00

376.81 85.00 Ps.100.00

398.98 90.00 Ps.100.00

421.14 95.00 Ps.100.00

443.31 100.00 Ps.100.00

465.48 105.00 Ps.105.00

487.64 110.00 Ps.110.00

509.81 115.00 Ps.115.00

531.97 120.00 Ps.120.00

554.14 125.00 Ps.108.00

576.30 130.00 Ps.108.00

598.47 135.00 Ps.108.00

620.63 140.00 Ps.108.00

642.80 145.00 Ps.108.00

664.97 150.00 Ps.108.00

687.13 155.00 Ps.108.00

709.30 160.00 Ps.108.00

731.46 170.00 Ps.108.00

**SPY305R DC155**

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 171 |

---

---

| | | |
|:---|:---|:---|
| **Market Price** | **Observed Price** | **Payment rights** |
| 0.00 | 0.00 | Ps. 100.00 |
| 21.39 | 5.00 | Ps. 100.00 |
| 42.78 | 10.00 | Ps. 100.00 |
| 64.17 | 15.00 | Ps. 100.00 |
| 85.56 | 20.00 | Ps. 100.00 |
| 106.95 | 25.00 | Ps. 100.00 |
| 128.34 | 30.00 | Ps. 100.00 |
| 149.73 | 35.00 | Ps. 100.00 |
| 171.12 | 40.00 | Ps. 100.00 |
| 192.51 | 45.00 | Ps. 100.00 |
| 213.91 | 50.00 | Ps. 100.00 |
| 235.30 | 55.00 | Ps. 100.00 |
| 256.69 | 60.00 | Ps. 100.00 |
| 278.08 | 65.00 | Ps. 100.00 |
| 299.47 | 70.00 | Ps. 100.00 |
| 320.86 | 75.00 | Ps. 100.00 |
| 342.25 | 80.00 | Ps. 100.00 |
| 363.64 | 85.00 | Ps. 100.00 |
| 385.03 | 90.00 | Ps. 100.00 |
| 406.42 | 95.00 | Ps. 100.00 |
| 427.81 | 100.00 | Ps. 100.00 |
| 449.20 | 105.00 | Ps. 105.00 |
| 470.59 | 110.00 | Ps. 110.00 |
| 491.98 | 115.00 | Ps. 115.00 |
| 513.37 | 120.00 | Ps. 120.00 |
| 534.76 | 125.00 | Ps. 108.00 |
| 556.15 | 130.00 | Ps. 108.00 |
| 577.54 | 135.00 | Ps. 108.00 |
| 598.93 | 140.00 | Ps. 108.00 |
| 620.32 | 145.00 | Ps. 108.00 |
| 641.72 | 150.00 | Ps. 108.00 |
| 663.11 | 155.00 | Ps. 108.00 |
| 684.50 | 160.00 | Ps. 108.00 |
| 705.89 | 165.00 | Ps. 108.00 |
| 727.28 | 170.00 | Ps. 108.00 |

---

**SPY306R DC163**

---

| | | |
|:---|:---|:---|
| **Market Price** | **Observed Price** | **Payment rights** |
| 0.00 | 0.00 | Ps. 100.00 |
| 18.90 | 5.00 | Ps. 100.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 172 |

---

37.81 10.00 Ps. 100.00

56.71 15.00 Ps. 100.00

75.61 20.00 Ps. 100.00

94.52 25.00 Ps. 100.00

113.42 30.00 Ps. 100.00

132.32 35.00 Ps. 100.00

151.22 40.00 Ps. 100.00

170.13 45.00 Ps. 100.00

189.03 50.00 Ps. 100.00

207.93 55.00 Ps. 100.00

226.84 60.00 Ps. 100.00

245.74 65.00 Ps. 100.00

264.64 70.00 Ps. 100.00

283.55 75.00 Ps. 100.00

302.45 80.00 Ps. 100.00

321.35 85.00 Ps. 100.00

340.25 90.00 Ps. 100.00

359.16 95.00 Ps. 100.00

378.06 100.00 Ps. 100.00

396.96 105.00 Ps. 105.00

415.87 110.00 Ps. 110.00

434.77 115.00 Ps. 115.00

453.67 120.00 Ps. 120.00

472.58 125.00 Ps. 110.00

491.48 130.00 Ps. 110.00

510.38 135.00 Ps. 110.00

529.28 140.00 Ps. 110.00

548.19 145.00 Ps. 110.00

567.09 150.00 Ps. 110.00

585.99 155.00 Ps. 110.00

604.90 160.00 Ps. 110.00

623.80 165.00 Ps. 110.00

642.70 170.00 Ps. 110.00

**SPY307R DC171**

---

| | | |
|:---|:---|:---|
| **Market Price** | **Observed Price** | **Payment rights** |
| 0.00 | 0.00 | Ps. 100.00 |
| 18.90 | 5.00 | Ps. 100.00 |
| 37.81 | 10.00 | Ps. 100.00 |
| 56.71 | 15.00 | Ps. 100.00 |
| 75.61 | 20.00 | Ps. 100.00 |
| 94.52 | 25.00 | Ps. 100.00 |
| 113.42 | 30.00 | Ps. 100.00 |
| 132.32 | 35.00 | Ps. 100.00 |
| 151.22 | 40.00 | Ps. 100.00 |
| 170.13 | 45.00 | Ps. 100.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 173 |

---

189.03 50.00 Ps. 100.00

207.93 55.00 Ps. 100.00

226.84 60.00 Ps. 100.00

245.74 65.00 Ps. 100.00

264.64 70.00 Ps. 100.00

283.55 75.00 Ps. 100.00

302.45 80.00 Ps. 100.00

321.35 85.00 Ps. 100.00

340.25 90.00 Ps. 100.00

359.16 95.00 Ps. 100.00

378.06 100.00 Ps. 100.00

396.96 105.00 Ps. 105.00

415.87 110.00 Ps. 110.00

434.77 115.00 Ps. 115.00

453.67 120.00 Ps. 120.00

472.58 125.00 Ps. 110.00

491.48 130.00 Ps. 110.00

510.38 135.00 Ps. 110.00

529.28 140.00 Ps. 110.00

548.19 145.00 Ps. 110.00

567.09 150.00 Ps. 110.00

585.99 155.00 Ps. 110.00

604.90 160.00 Ps. 110.00

623.80 165.00 Ps. 110.00

642.70 170.00 Ps. 110.00

**SPY307R DC175**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 100.00 |
| 19.94 | 5.00 | Ps. 100.00 |
| 39.88 | 10.00 | Ps. 100.00 |
| 59.82 | 15.00 | Ps. 100.00 |
| 79.76 | 20.00 | Ps. 100.00 |
| 99.70 | 25.00 | Ps. 100.00 |
| 119.64 | 30.00 | Ps. 100.00 |
| 139.58 | 35.00 | Ps. 100.00 |
| 159.52 | 40.00 | Ps. 100.00 |
| 179.46 | 45.00 | Ps. 100.00 |
| 199.40 | 50.00 | Ps. 100.00 |
| 219.33 | 55.00 | Ps. 100.00 |
| 239.27 | 60.00 | Ps. 100.00 |
| 259.21 | 65.00 | Ps. 100.00 |
| 279.15 | 70.00 | Ps. 100.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 174 |

---

299.09 75.00 Ps. 100.00

319.03 80.00 Ps. 100.00

338.97 85.00 Ps. 100.00

358.91 90.00 Ps. 100.00

378.85 95.00 Ps. 100.00

398.79 100.00 Ps. 100.00

418.73 105.00 Ps. 105.00

438.67 110.00 Ps. 110.00

458.61 115.00 Ps. 115.00

478.55 120.00 Ps. 120.00

498.49 125.00 Ps. 111.00

518.43 130.00 Ps. 111.00

538.37 135.00 Ps. 111.00

558.31 140.00 Ps. 111.00

578.25 145.00 Ps. 111.00

598.19 150.00 Ps. 111.00

618.12 155.00 Ps. 111.00

638.06 160.00 Ps. 111.00

658.00 165.00 Ps. 111.00

677.94 170.00 Ps. 111.00

**SPY308R DC184**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 100.00 |
| 20.62 | 5.00 | Ps. 100.00 |
| 41.24 | 10.00 | Ps. 100.00 |
| 61.85 | 15.00 | Ps. 100.00 |
| 82.47 | 20.00 | Ps. 100.00 |
| 103.09 | 25.00 | Ps. 100.00 |
| 123.71 | 30.00 | Ps. 100.00 |
| 144.32 | 35.00 | Ps. 100.00 |
| 164.94 | 40.00 | Ps. 100.00 |
| 185.56 | 45.00 | Ps. 100.00 |
| 206.18 | 50.00 | Ps. 100.00 |
| 226.79 | 55.00 | Ps. 100.00 |
| 247.41 | 60.00 | Ps. 100.00 |
| 268.03 | 65.00 | Ps. 100.00 |
| 288.65 | 70.00 | Ps. 100.00 |
| 309.26 | 75.00 | Ps. 100.00 |
| 329.88 | 80.00 | Ps. 100.00 |
| 350.50 | 85.00 | Ps. 100.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 175 |

---

371.12 90.00 Ps. 100.00

391.73 95.00 Ps. 100.00

412.35 100.00 Ps. 100.00

432.97 105.00 Ps. 105.00

453.59 110.00 Ps. 110.00

474.20 115.00 Ps. 115.00

494.82 120.00 Ps. 120.00

515.44 125.00 Ps. 112.00

536.06 130.00 Ps. 112.00

556.67 135.00 Ps. 112.00

577.29 140.00 Ps. 112.00

597.91 145.00 Ps. 112.00

618.53 150.00 Ps. 112.00

639.14 155.00 Ps. 112.00

659.76 160.00 Ps. 112.00

680.38 165.00 Ps. 112.00

701.00 170.00 Ps. 112.00

**SPY308R DC187**

---

| | | |
|:---|:---|:---|
| **Market Price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 100.00 |
| 20.98 | 5.00 | Ps. 100.00 |
| 41.95 | 10.00 | Ps. 100.00 |
| 62.93 | 15.00 | Ps. 100.00 |
| 83.90 | 20.00 | Ps. 100.00 |
| 104.88 | 25.00 | Ps. 100.00 |
| 125.85 | 30.00 | Ps. 100.00 |
| 146.83 | 35.00 | Ps. 100.00 |
| 167.80 | 40.00 | Ps. 100.00 |
| 188.78 | 45.00 | Ps. 100.00 |
| 209.76 | 50.00 | Ps. 100.00 |
| 230.73 | 55.00 | Ps. 100.00 |
| 251.71 | 60.00 | Ps. 100.00 |
| 272.68 | 65.00 | Ps. 100.00 |
| 293.66 | 70.00 | Ps. 100.00 |
| 314.63 | 75.00 | Ps. 100.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 176 |

---

335.61 80.00 Ps. 100.00

356.58 85.00 Ps. 100.00

377.56 90.00 Ps. 100.00

398.53 95.00 Ps. 100.00

419.51 100.00 Ps. 100.00

440.49 105.00 Ps. 105.00

461.46 110.00 Ps. 110.00

482.44 115.00 Ps. 115.00

503.41 120.00 Ps. 120.00

524.39 125.00 Ps. 113.50

545.36 130.00 Ps. 113.50

566.34 135.00 Ps. 113.50

587.31 140.00 Ps. 113.50

608.29 145.00 Ps. 113.50

629.27 150.00 Ps. 113.50

650.24 155.00 Ps. 113.50

671.22 160.00 Ps. 113.50

692.19 165.00 Ps. 113.50

713.17 170.00 Ps. 113.50

**SPY309R DC190**

---

| | | |
|:---|:---|:---|
| **Market Price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 100.00 |
| 19.76 | 5.00 | Ps. 100.00 |
| 39.52 | 10.00 | Ps. 100.00 |
| 59.28 | 15.00 | Ps. 100.00 |
| 79.04 | 20.00 | Ps. 100.00 |
| 98.80 | 25.00 | Ps. 100.00 |
| 118.55 | 30.00 | Ps. 100.00 |
| 138.31 | 35.00 | Ps. 100.00 |
| 158.07 | 40.00 | Ps. 100.00 |
| 177.83 | 45.00 | Ps. 100.00 |
| 197.59 | 50.00 | Ps. 100.00 |
| 217.35 | 55.00 | Ps. 100.00 |
| 237.11 | 60.00 | Ps. 100.00 |
| 256.87 | 65.00 | Ps. 100.00 |
| 276.63 | 70.00 | Ps. 100.00 |
| 296.39 | 75.00 | Ps. 100.00 |
| 316.14 | 80.00 | Ps. 100.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 177 |

---

335.90 85.00 Ps. 100.00

355.66 90.00 Ps. 100.00

375.42 95.00 Ps. 100.00

395.18 100.00 Ps. 100.00

414.94 105.00 Ps. 105.00

434.70 110.00 Ps. 110.00

454.46 115.00 Ps. 115.00

474.22 120.00 Ps. 120.00

493.98 125.00 Ps. 113.50

513.73 130.00 Ps. 113.50

533.49 135.00 Ps. 113.50

553.25 140.00 Ps. 113.50

573.01 145.00 Ps. 113.50

592.77 150.00 Ps. 113.50

612.53 155.00 Ps. 113.50

632.29 160.00 Ps. 113.50

652.05 165.00 Ps. 113.50

671.81 170.00 Ps. 113.50

**SPY309R DC195**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 100.00 |
| 18.71 | 5.00 | Ps. 100.00 |
| 37.42 | 10.00 | Ps. 100.00 |
| 56.13 | 15.00 | Ps. 100.00 |
| 74.84 | 20.00 | Ps. 100.00 |
| 93.56 | 25.00 | Ps. 100.00 |
| 112.27 | 30.00 | Ps. 100.00 |
| 130.98 | 35.00 | Ps. 100.00 |
| 149.69 | 40.00 | Ps. 100.00 |
| 168.40 | 45.00 | Ps. 100.00 |
| 187.11 | 50.00 | Ps. 100.00 |
| 205.82 | 55.00 | Ps. 100.00 |
| 224.53 | 60.00 | Ps. 100.00 |
| 243.24 | 65.00 | Ps. 100.00 |
| 261.95 | 70.00 | Ps. 100.00 |
| 280.67 | 75.00 | Ps. 100.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 178 |

---

299.38 80.00 Ps. 100.00

318.09 85.00 Ps. 100.00

336.80 90.00 Ps. 100.00

355.51 95.00 Ps. 100.00

374.22 100.00 Ps. 100.00

392.93 105.00 Ps. 105.00

411.64 110.00 Ps. 110.00

430.35 115.00 Ps. 115.00

449.06 120.00 Ps. 120.00

467.78 125.00 Ps. 114.50

486.49 130.00 Ps. 114.50

505.20 135.00 Ps. 114.50

523.91 140.00 Ps. 114.50

542.62 145.00 Ps. 114.50

561.33 150.00 Ps. 114.50

580.04 155.00 Ps. 114.50

598.75 160.00 Ps. 114.50

617.46 165.00 Ps. 114.50

636.17 170.00 Ps. 114.50

**SPY310R DC200**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 100.00 |
| 18.14 | 5.00 | Ps. 100.00 |
| 36.28 | 10.00 | Ps. 100.00 |
| 54.42 | 15.00 | Ps. 100.00 |
| 72.56 | 20.00 | Ps. 100.00 |
| 90.70 | 25.00 | Ps. 100.00 |
| 108.84 | 30.00 | Ps. 100.00 |
| 126.98 | 35.00 | Ps. 100.00 |
| 145.12 | 40.00 | Ps. 100.00 |
| 163.26 | 45.00 | Ps. 100.00 |
| 181.40 | 50.00 | Ps. 100.00 |
| 199.53 | 55.00 | Ps. 100.00 |
| 217.67 | 60.00 | Ps. 100.00 |
| 235.81 | 65.00 | Ps. 100.00 |
| 253.95 | 70.00 | Ps. 100.00 |
| 272.09 | 75.00 | Ps. 100.00 |
| 290.23 | 80.00 | Ps. 100.00 |
| 308.37 | 85.00 | Ps. 100.00 |
| 326.51 | 90.00 | Ps. 100.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 179 |

---

344.65 95.00 Ps. 100.00

362.79 100.00 Ps. 100.00

380.93 105.00 Ps. 105.00

399.07 110.00 Ps. 110.00

417.21 115.00 Ps. 115.00

435.35 120.00 Ps. 120.00

453.49 125.00 Ps. 115.50

471.63 130.00 Ps. 115.50

489.77 135.00 Ps. 115.50

507.91 140.00 Ps. 115.50

526.05 145.00 Ps. 115.50

544.19 150.00 Ps. 115.50

562.32 155.00 Ps. 115.50

580.46 160.00 Ps. 115.50

598.60 165.00 Ps. 115.50

616.74 170.00 Ps. 115.50

**SPY311R DC205**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 100.00 |
| 19.00 | 5.00 | Ps. 100.00 |
| 38.00 | 10.00 | Ps. 100.00 |
| 57.00 | 15.00 | Ps. 100.00 |
| 76.00 | 20.00 | Ps. 100.00 |
| 95.00 | 25.00 | Ps. 100.00 |
| 113.99 | 30.00 | Ps. 100.00 |
| 132.99 | 35.00 | Ps. 100.00 |
| 151.99 | 40.00 | Ps. 100.00 |
| 170.99 | 45.00 | Ps. 100.00 |
| 189.99 | 50.00 | Ps. 100.00 |
| 208.99 | 55.00 | Ps. 100.00 |
| 227.99 | 60.00 | Ps. 100.00 |
| 246.99 | 65.00 | Ps. 100.00 |
| 265.99 | 70.00 | Ps. 100.00 |
| 284.99 | 75.00 | Ps. 100.00 |
| 303.98 | 80.00 | Ps. 100.00 |
| 322.98 | 85.00 | Ps. 100.00 |
| 341.98 | 90.00 | Ps. 100.00 |
| 360.98 | 95.00 | Ps. 100.00 |
| 379.98 | 100.00 | Ps. 100.00 |
| 398.98 | 105.00 | Ps. 105.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 180 |

---

417.98 110.00 Ps. 110.00

436.98 115.00 Ps. 115.00

455.98 120.00 Ps. 120.00

474.98 125.00 Ps. 117.50

493.97 130.00 Ps. 117.50

512.97 135.00 Ps. 117.50

531.97 140.00 Ps. 117.50

550.97 145.00 Ps. 117.50

569.97 150.00 Ps. 117.50

588.97 155.00 Ps. 117.50

607.97 160.00 Ps. 117.50

626.97 165.00 Ps. 117.50

645.97 170.00 Ps. 117.50

**SPY405R DC210**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 95.00 |
| 4.73 | 5.00 | Ps. 95.00 |
| 9.45 | 10.00 | Ps. 95.00 |
| 14.18 | 15.00 | Ps. 95.00 |
| 18.90 | 20.00 | Ps. 95.00 |
| 23.63 | 25.00 | Ps. 95.00 |
| 28.35 | 30.00 | Ps. 95.00 |
| 33.08 | 35.00 | Ps. 95.00 |
| 37.80 | 40.00 | Ps. 95.00 |
| 42.53 | 45.00 | Ps. 95.00 |
| 47.26 | 50.00 | Ps. 95.00 |
| 51.98 | 55.00 | Ps. 95.00 |
| 56.71 | 60.00 | Ps. 95.00 |
| 61.43 | 65.00 | Ps. 95.00 |
| 66.16 | 70.00 | Ps. 95.00 |
| 70.88 | 75.00 | Ps. 95.00 |
| 75.61 | 80.00 | Ps. 95.00 |
| 80.33 | 85.00 | Ps. 95.00 |
| 85.06 | 90.00 | Ps. 95.00 |
| 89.78 | 95.00 | Ps. 95.00 |
| 92.15 | 97.50 | Ps. 97.50 |
| 92.62 | 98.00 | Ps. 98.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 181 |

---

93.56 99.00 Ps. 99.00

94.51 100.00 Ps. 100.00

99.24 105.00 Ps. 105.00

103.96 110.00 Ps. 110.00

108.69 115.00 Ps. 115.00

113.41 120.00 Ps. 120.00

118.14 125.00 Ps. 125.00

122.86 130.00 Ps. 130.00

127.59 135.00 Ps. 135.00

130.42 138.00 Ps. 138.00

135.15 143.00 Ps. 121.00

139.87 148.00 Ps. 121.00

144.60 153.00 Ps. 121.00

149.33 158.00 Ps. 121.00

154.05 163.00 Ps. 121.00

158.78 168.00 Ps. 121.00

163.50 173.00 Ps. 121.00

168.23 178.00 Ps. 121.00

**SPY406R DC215**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 95.00 |
| 4.73 | 5.00 | Ps. 95.00 |
| 9.45 | 10.00 | Ps. 95.00 |
| 14.18 | 15.00 | Ps. 95.00 |
| 18.90 | 20.00 | Ps. 95.00 |
| 23.63 | 25.00 | Ps. 95.00 |
| 28.35 | 30.00 | Ps. 95.00 |
| 33.08 | 35.00 | Ps. 95.00 |
| 37.80 | 40.00 | Ps. 95.00 |
| 42.53 | 45.00 | Ps. 95.00 |
| 47.26 | 50.00 | Ps. 95.00 |
| 51.98 | 55.00 | Ps. 95.00 |
| 56.71 | 60.00 | Ps. 95.00 |
| 61.43 | 65.00 | Ps. 95.00 |
| 66.16 | 70.00 | Ps. 95.00 |
| 70.88 | 75.00 | Ps. 95.00 |
| 75.61 | 80.00 | Ps. 95.00 |
| 80.33 | 85.00 | Ps. 95.00 |
| 85.06 | 90.00 | Ps. 95.00 |
| 89.78 | 95.00 | Ps. 95.00 |
| 92.15 | 97.50 | Ps. 97.50 |
| 92.62 | 98.00 | Ps. 98.00 |
| 93.56 | 99.00 | Ps. 99.00 |
| 94.51 | 100.00 | Ps. 100.00 |
| 99.24 | 105.00 | Ps. 105.00 |
| 103.96 | 110.00 | Ps. 110.00 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 182 |

---

108.69 115.00 Ps. 115.00

113.41 120.00 Ps. 120.00

118.14 125.00 Ps. 125.00

122.86 130.00 Ps. 130.00

127.59 135.00 Ps. 135.00

130.42 138.00 Ps. 138.00

135.15 143.00 Ps. 121.00

139.87 148.00 Ps. 121.00

144.60 153.00 Ps. 121.00

149.33 158.00 Ps. 121.00

154.05 163.00 Ps. 121.00

158.78 168.00 Ps. 121.00

163.50 173.00 Ps. 121.00

168.23 178.00 Ps. 121.00

&nbsp;&nbsp;&nbsp;&nbsp;**(xvii)** **Tesla, Inc. (TSLA\*)** 

**Stock Market where it is quoted** 

NASDAQ

**Description:**

Tesla, Inc. designs, manufactures and markets high-performance electric vehicles and electric vehicle power train components. It has its own sales and service network and sells electric motor train components to other car manufacturers. Serves clients all over the world.

**Historical Evolution:**

![](image_104.jpg)

*Comparison base: December 30th, 2017* 

---

| | | | |
|:---|:---|:---|:---|
| **Period** | **Minimum price** | **Maximum price** | **Average (securities)** |
| 2017 | 20.76 | 20.76 | 56657325.00 |
| 2018 | 16.70 | 25.31 | 129207684.49 |
| 2019 | 11.93 | 28.73 | 140793341.47 |
| 2020 | 24.08 | 235.22 | 222381219.46 |
| 2021 | 187.67 | 409.97 | 82369507.54 |
| 1st Sem. 2020 | 24.08 | 71.99 | 255164554.12 |
| 2nd Sem. 2020 | 74.64 | 235.22 | 189954225.39 |
| 1st Sem. 2021 | 187.67 | 294.36 | 98129023.03 |
| 2nd Sem. 2021 | 214.46 | 409.97 | 66866940.67 |
| 1st Sem. 2022 | 209.39 | 399.93 | 84038156.40 |
| July 2022 | 227.26 | 297.15 | 87399255.97 |
| August 2022 | 275.61 | 309.32 | 74787553.45 |
| September 2022 | 265.25 | 309.07 | 62089598.93 |
| October 2022 | 204.99 | 265.25 | 81188575.26 |
| November 2022 | 167.87 | 227.82 | 89148030.30 |
| December 2022 | 109.10 | 194.86 | 136010590.50 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 183 |

---

**Historical volatility:**

![](image_105.jpg)

*Source of Information on Historic Evolution and Historical Volatility: www.bloomberg.com.mx*

**Quantitative examples that illustrate possible gains or losses** 

**TSL304L DC082**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Market price** | **Observed price** | **Observation dates 1 to 5** | **Exercise dates 1 to 5** | **Exercise date 6** |
| 0.00 | 0.00 | Ps. 0.00 | Ps. 0.00 | Ps. 0.00 |
| 10.83 | 5.00 | Ps. 0.00 | Ps. 0.00 | Ps. 5.00 |
| 21.65 | 10.00 | Ps. 0.00 | Ps. 0.00 | Ps. 10.00 |
| 32.48 | 15.00 | Ps. 0.00 | Ps. 0.00 | Ps. 15.00 |
| 43.30 | 20.00 | Ps. 0.00 | Ps. 0.00 | Ps. 20.00 |
| 54.13 | 25.00 | Ps. 0.00 | Ps. 0.00 | Ps. 25.00 |
| 64.95 | 30.00 | Ps. 0.00 | Ps. 0.00 | Ps. 30.00 |
| 75.78 | 35.00 | Ps. 0.00 | Ps. 0.00 | Ps. 35.00 |
| 86.60 | 40.00 | Ps. 0.00 | Ps. 0.00 | Ps. 40.00 |
| 97.43 | 45.00 | Ps. 0.00 | Ps. 0.00 | Ps. 45.00 |
| 108.25 | 50.00 | Ps. 0.00 | Ps. 0.00 | Ps. 50.00 |
| 119.08 | 55.00 | Ps. 0.00 | Ps. 0.00 | Ps. 55.00 |
| 129.90 | 60.00 | Ps. 0.00 | Ps. 0.00 | Ps. 60.00 |
| 140.73 | 65.00 | Ps. 0.00 | Ps. 0.00 | Ps. 65.00 |
| 151.55 | 70.00 | Ps. 3.50 | Ps. 0.00 | Ps. 103.50 |
| 162.38 | 75.00 | Ps. 3.50 | Ps. 0.00 | Ps. 103.50 |
| 173.20 | 80.00 | Ps. 3.50 | Ps. 0.00 | Ps. 103.50 |
| 184.03 | 85.00 | Ps. 3.50 | Ps. 0.00 | Ps. 103.50 |
| 194.85 | 90.00 | Ps. 3.50 | Ps. 0.00 | Ps. 103.50 |
| 205.68 | 95.00 | Ps. 3.50 | Ps. 0.00 | Ps. 103.50 |
| 216.50 | 100.00 | Ps. 0.00 | Ps. 103.50 | Ps. 103.50 |
| 227.33 | 105.00 | Ps. 0.00 | Ps. 103.50 | Ps. 103.50 |
| 238.15 | 110.00 | Ps. 0.00 | Ps. 103.50 | Ps. 103.50 |
| 248.98 | 115.00 | Ps. 0.00 | Ps. 103.50 | Ps. 103.50 |
| 259.80 | 120.00 | Ps. 0.00 | Ps. 103.50 | Ps. 103.50 |
| 270.63 | 125.00 | Ps. 0.00 | Ps. 103.50 | Ps. 103.50 |
| 281.45 | 130.00 | Ps. 0.00 | Ps. 103.50 | Ps. 103.50 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 184 |

---

292.28 135.00 Ps. 0.00 Ps. 103.50 Ps. 103.50

303.10 140.00 Ps. 0.00 Ps. 103.50 Ps. 103.50

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(xviii) Energy Select Sector SPDR (XLE \*)**

**Stock Market where it is quoted** 

New York Stock Exchange

**Description:**

Energy Select Sector SPDR Fund is an Exchange Traded Fund incorporated in the US Follow the performance of The Energy Select Sector Index. Holds large cap energy stocks in the US Invests in companies that develop and produce crude oil and natural gas, offer drilling and other related services. Positions are weighted by market cap.

**Historical Evolution:** 

*Comparison base: December 30th, 2017* 

---

| | | | |
|:---|:---|:---|:---|
| **Period** | **Minimum price** | **Maximum price** | **Average (securities)** |
| 2017 | 72.26 | 72.26 | 7356372.00 |
| 2018 | 53.84 | 78.91 | 16220791.77 |
| 2019 | 55.85 | 68.61 | 14052817.93 |
| 2020 | 23.57 | 60.87 | 30330118.95 |
| 2021 | 37.90 | 59.14 | 29938403.21 |
| 1st Sem. 2020 | 23.57 | 60.87 | 32986907.84 |
| 2nd Sem. 2020 | 27.71 | 41.60 | 27702208.20 |
| 1st Sem. 2021 | 37.90 | 56.19 | 31563188.91 |
| 2nd Sem. 2021 | 45.79 | 59.14 | 28340108.58 |
| 1st Sem. 2022 | 55.50 | 92.28 | 38560853.67 |
| July 2022 | 67.49 | 78.42 | 27665944.77 |
| August 2022 | 71.66 | 84.09 | 22383327.52 |
| September 2022 | 68.75 | 82.27 | 30054345.77 |
| October 2022 | 72.02 | 90.00 | 26095617.26 |
| November 2022 | 88.53 | 94.08 | 23828782.57 |
| December 2022 | 82.68 | 90.85 | 20783869.07 |

---

**Historical volatility:**

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 185 |

---

*Source of Information on Historic Evolution and Historical Volatility: www.bloomberg.com.mx*

**Quantitative examples that illustrate possible gains or losses** 

**XLE304R DC019**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 85.00 |
| 3.82 | 5.00 | Ps. 85.00 |
| 7.64 | 10.00 | Ps. 85.00 |
| 11.47 | 15.00 | Ps. 85.00 |
| 15.29 | 20.00 | Ps. 85.00 |
| 19.11 | 25.00 | Ps. 85.00 |
| 22.93 | 30.00 | Ps. 85.00 |
| 26.75 | 35.00 | Ps. 85.00 |
| 30.58 | 40.00 | Ps. 85.00 |
| 34.40 | 45.00 | Ps. 85.00 |
| 38.22 | 50.00 | Ps. 85.00 |
| 42.04 | 55.00 | Ps. 85.00 |
| 45.86 | 60.00 | Ps. 85.00 |
| 49.69 | 65.00 | Ps. 85.00 |
| 53.51 | 70.00 | Ps. 85.00 |
| 57.33 | 75.00 | Ps. 85.00 |
| 61.15 | 80.00 | Ps. 85.00 |
| 64.97 | 85.00 | Ps. 85.00 |
| 68.80 | 90.00 | Ps. 90.00 |
| 72.62 | 95.00 | Ps. 95.00 |
| 76.44 | 100.00 | Ps. 100.00 |
| 77.97 | 102.00 | Ps. 103.24 |
| 77.20 | 101.00 | Ps. 101.62 |
| 78.73 | 103.00 | Ps. 104.86 |
| 82.56 | 108.00 | Ps. 112.96 |
| 84.08 | 110.00 | Ps. 116.20 |
| 87.91 | 115.00 | Ps. 124.30 |
| 91.73 | 120.00 | Ps. 132.40 |
| 95.55 | 125.00 | Ps. 132.40 |
| 99.37 | 130.00 | Ps. 132.40 |
| 103.19 | 135.00 | Ps. 132.40 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 186 |

---

107.02 140.00 Ps. 132.40

110.84 145.00 Ps. 132.40

114.66 150.00 Ps. 132.40

122.30 160.00 Ps. 132.40

**XLE310R DC020**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 100.00 |
| 3.60 | 5.00 | Ps. 100.00 |
| 7.20 | 10.00 | Ps. 100.00 |
| 10.80 | 15.00 | Ps. 100.00 |
| 14.40 | 20.00 | Ps. 100.00 |
| 18.01 | 25.00 | Ps. 100.00 |
| 21.61 | 30.00 | Ps. 100.00 |
| 25.21 | 35.00 | Ps. 100.00 |
| 28.81 | 40.00 | Ps. 100.00 |
| 32.41 | 45.00 | Ps. 100.00 |
| 36.01 | 50.00 | Ps. 100.00 |
| 39.61 | 55.00 | Ps. 100.00 |
| 43.21 | 60.00 | Ps. 100.00 |
| 46.81 | 65.00 | Ps. 100.00 |
| 50.41 | 70.00 | Ps. 100.00 |
| 54.02 | 75.00 | Ps. 100.00 |
| 57.62 | 80.00 | Ps. 100.00 |
| 61.22 | 85.00 | Ps. 100.00 |
| 64.82 | 90.00 | Ps. 100.00 |
| 68.42 | 95.00 | Ps. 100.00 |
| 72.02 | 100.00 | Ps. 100.00 |
| 75.62 | 105.00 | Ps. 105.00 |
| 79.22 | 110.00 | Ps. 110.00 |
| 82.82 | 115.00 | Ps. 115.00 |
| 86.42 | 120.00 | Ps. 120.00 |
| 90.03 | 125.00 | Ps. 125.00 |
| 93.63 | 130.00 | Ps. 130.00 |
| 97.23 | 135.00 | Ps. 115.50 |
| 100.83 | 140.00 | Ps. 115.50 |
| 104.43 | 145.00 | Ps. 115.50 |
| 108.03 | 150.00 | Ps. 115.50 |
| 111.63 | 155.00 | Ps. 115.50 |
| 115.23 | 160.00 | Ps. 115.50 |
| 118.83 | 165.00 | Ps. 115.50 |
| 122.43 | 170.00 | Ps. 115.50 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 187 |

---

**XLE310R DC021**

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 100.00 |
| 4.22 | 5.00 | Ps. 100.00 |
| 8.45 | 10.00 | Ps. 100.00 |
| 12.67 | 15.00 | Ps. 100.00 |
| 16.90 | 20.00 | Ps. 100.00 |
| 21.12 | 25.00 | Ps. 100.00 |
| 25.35 | 30.00 | Ps. 100.00 |
| 29.57 | 35.00 | Ps. 100.00 |
| 33.80 | 40.00 | Ps. 100.00 |
| 38.02 | 45.00 | Ps. 100.00 |
| 42.25 | 50.00 | Ps. 100.00 |
| 46.47 | 55.00 | Ps. 100.00 |
| 50.69 | 60.00 | Ps. 100.00 |
| 54.92 | 65.00 | Ps. 100.00 |
| 59.14 | 70.00 | Ps. 100.00 |
| 63.37 | 75.00 | Ps. 100.00 |
| 67.59 | 80.00 | Ps. 100.00 |
| 71.82 | 85.00 | Ps. 100.00 |
| 76.04 | 90.00 | Ps. 100.00 |
| 80.27 | 95.00 | Ps. 100.00 |
| 84.49 | 100.00 | Ps. 100.00 |
| 88.71 | 105.00 | Ps. 105.00 |
| 92.94 | 110.00 | Ps. 110.00 |
| 97.16 | 115.00 | Ps. 115.00 |
| 101.39 | 120.00 | Ps. 120.00 |
| 105.61 | 125.00 | Ps. 125.00 |
| 109.84 | 130.00 | Ps. 130.00 |
| 113.22 | 134.00 | Ps. 134.00 |
| 117.44 | 139.00 | Ps. 117.00 |
| 121.67 | 144.00 | Ps. 117.00 |
| 125.89 | 149.00 | Ps. 117.00 |
| 130.11 | 154.00 | Ps. 117.00 |
| 134.34 | 159.00 | Ps. 117.00 |
| 138.56 | 164.00 | Ps. 117.00 |
| 142.79 | 169.00 | Ps. 117.00 |

---

&nbsp;&nbsp;&nbsp;&nbsp;**(xix)** **Financial Select Sector SPDR (XLF\*)** 

**Stock Market where it is quoted:** 

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 188 |

---

New York Stock Exchange

**Description:**

Financial Select Sector SPDR Fund is an exchange-traded fund incorporated in the USA. The Fund's objective is to provide investment results that, before expenses, correspond to the performance of The Financial Select Sector. The Index includes financial services firms whose business' range from investment management to commercial & business banking.

**Historical Evolution:** 

*Comparison base: December 30th, 2017* 

---

| | | | |
|:---|:---|:---|:---|
| **Period** | **Minimum price** | **Maximum price** | **Average (securities)** |
| 2017 | 27.91 | 27.91 | 55169774.00 |
| 2018 | 22.31 | 30.17 | 61707717.64 |
| 2019 | 23.48 | 30.94 | 49572724.63 |
| 2020 | 17.66 | 31.17 | 67562556.95 |
| 2021 | 28.95 | 40.62 | 55157648.64 |
| 1st Sem. 2020 | 17.66 | 31.17 | 80700158.41 |
| 2nd Sem. 2020 | 22.68 | 29.48 | 54567755.49 |
| 1st Sem. 2021 | 28.95 | 38.47 | 58163835.48 |
| 2nd Sem. 2021 | 35.11 | 40.62 | 52200475.72 |
| 1st Sem. 2022 | 30.84 | 41.42 | 72143869.63 |
| July 2022 | 30.74 | 33.71 | 44342423.77 |
| August 2022 | 33.05 | 35.81 | 33355553.26 |
| September 2022 | 30.36 | 34.64 | 46932492.97 |
| October 2022 | 30.29 | 34.19 | 45077538.06 |
| November 2022 | 33.30 | 36.31 | 37570094.10 |
| December 2022 | 33.40 | 36.10 | 40896787.33 |

---

**Historical volatility** 

*Source of Information on Historic Evolution and Historical Volatility: www.bloomberg.com.mx*

**Quantitative examples that illustrate possible gains or losses**

**XLF302R DC023**

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 189 |

---

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed Price** | **Payment rights** |
| 0.00 | 0.00 | Ps. 90.00 |
| 1.95 | 5.00 | Ps. 90.00 |
| 3.91 | 10.00 | Ps. 90.00 |
| 5.86 | 15.00 | Ps. 90.00 |
| 7.81 | 20.00 | Ps. 90.00 |
| 9.77 | 25.00 | Ps. 90.00 |
| 11.72 | 30.00 | Ps. 90.00 |
| 13.67 | 35.00 | Ps. 90.00 |
| 15.62 | 40.00 | Ps. 90.00 |
| 17.58 | 45.00 | Ps. 90.00 |
| 19.53 | 50.00 | Ps. 90.00 |
| 21.48 | 55.00 | Ps. 90.00 |
| 23.44 | 60.00 | Ps. 90.00 |
| 25.39 | 65.00 | Ps. 90.00 |
| 27.34 | 70.00 | Ps. 90.00 |
| 29.30 | 75.00 | Ps. 90.00 |
| 31.25 | 80.00 | Ps. 90.00 |
| 33.20 | 85.00 | Ps. 90.00 |
| 35.15 | 90.00 | Ps. 90.00 |
| 37.11 | 95.00 | Ps. 95.00 |
| 39.06 | 100.00 | Ps. 100.00 |
| 39.84 | 102.00 | Ps. 100.00 |
| 39.45 | 101.00 | Ps. 100.00 |
| 40.23 | 103.00 | Ps. 100.00 |
| 42.18 | 108.00 | Ps. 106.90 |
| 44.14 | 113.01 | Ps. 113.81 |
| 45.70 | 117.01 | Ps. 119.33 |
| 46.09 | 118.01 | Ps. 120.71 |
| 46.09 | 118.01 | Ps. 120.71 |
| 50.39 | 129.00 | Ps. 135.88 |
| 52.34 | 134.00 | Ps. 108.00 |
| 54.29 | 139.00 | Ps. 108.00 |
| 56.25 | 144.00 | Ps. 108.00 |
| 58.20 | 149.00 | Ps. 108.00 |
| 60.15 | 154.00 | Ps. 108.00 |

---

**XLF311R DC024**

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 190 |

---

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 100.00 |
| 1.70 | 5.00 | Ps. 100.00 |
| 3.40 | 10.00 | Ps. 100.00 |
| 5.10 | 15.00 | Ps. 100.00 |
| 6.80 | 20.00 | Ps. 100.00 |
| 8.50 | 25.00 | Ps. 100.00 |
| 10.19 | 30.00 | Ps. 100.00 |
| 11.89 | 35.00 | Ps. 100.00 |
| 13.59 | 40.00 | Ps. 100.00 |
| 15.29 | 45.00 | Ps. 100.00 |
| 16.99 | 50.00 | Ps. 100.00 |
| 18.69 | 55.00 | Ps. 100.00 |
| 20.39 | 60.00 | Ps. 100.00 |
| 22.09 | 65.00 | Ps. 100.00 |
| 23.79 | 70.00 | Ps. 100.00 |
| 25.49 | 75.00 | Ps. 100.00 |
| 27.18 | 80.00 | Ps. 100.00 |
| 28.88 | 85.00 | Ps. 100.00 |
| 30.58 | 90.00 | Ps. 100.00 |
| 32.28 | 95.00 | Ps. 100.00 |
| 33.98 | 100.00 | Ps. 100.00 |
| 35.68 | 105.00 | Ps. 105.00 |
| 37.38 | 110.00 | Ps. 110.00 |
| 39.08 | 115.00 | Ps. 115.00 |
| 40.78 | 120.00 | Ps. 120.00 |
| 42.48 | 125.00 | Ps. 125.00 |
| 44.17 | 130.00 | Ps. 116.75 |
| 45.87 | 135.00 | Ps. 116.75 |
| 47.57 | 140.00 | Ps. 116.75 |
| 49.27 | 145.00 | Ps. 116.75 |
| 50.97 | 150.00 | Ps. 116.75 |
| 52.67 | 155.00 | Ps. 116.75 |
| 54.37 | 160.00 | Ps. 116.75 |
| 56.07 | 165.00 | Ps. 116.75 |
| 57.77 | 170.00 | Ps. 116.75 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(xx)** **TECHNOLOGY SELECT SECTOR SPDR (XLK \*)** 

**Stock Market where it is quoted** 

New York Stock Exchange

**Description:**

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 191 |

---

Technology Select Sector SPDR Fund is an Exchange Traded Fund incorporated in the US The ETF tracks the performance of The Technology Select Sector Index. It has large and medium cap technology stocks. Its largest investment allocation is in the United States. The ETF weights stocks using a market capitalization methodology.

**Historical Evolution:** 

*Comparison base: December 30th, 2017* 

---

| | | | |
|:---|:---|:---|:---|
| **Period** | **Minimum price** | **Maximum price** | **Average (securities)** |
| 2017 | 63.95 | 63.95 | 6693188.00 |
| 2018 | 57.62 | 75.93 | 15712776.42 |
| 2019 | 58.89 | 91.92 | 11893282.03 |
| 2020 | 70.40 | 130.52 | 13347617.79 |
| 2021 | 125.83 | 176.65 | 8572452.23 |
| 1st Sem. 2020 | 70.40 | 104.63 | 17049376.79 |
| 2nd Sem. 2020 | 104.66 | 130.52 | 9686095.30 |
| 1st Sem. 2021 | 125.83 | 147.82 | 7739826.08 |
| 2nd Sem. 2021 | 147.91 | 176.65 | 9391502.96 |
| 1st Sem. 2022 | 123.49 | 175.52 | 12591871.76 |
| July 2022 | 127.41 | 144.22 | 6423376.68 |
| August 2022 | 135.26 | 151.56 | 5626528.03 |
| September 2022 | 118.78 | 139.40 | 8325609.17 |
| October 2022 | 116.56 | 129.58 | 8383304.68 |
| November 2022 | 118.82 | 135.96 | 6391662.90 |
| December 2022 | 121.43 | 136.15 | 6493935.07 |

---

**Historical volatility** 

*Source of Information on Historic Evolution and Historical Volatility: www.bloomberg.com.mx*

**Quantitative examples that illustrate possible gains or losses**

**XLK407R DC015**

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 192 |

---

---

| | | |
|:---|:---|:---|
| **Market price** | **Observed price** | **Payment rights (MXN)** |
| 0.00 | 0.00 | Ps. 90.00 |
| 6.46 | 5.00 | Ps. 90.00 |
| 12.93 | 10.00 | Ps. 90.00 |
| 19.39 | 15.00 | Ps. 90.00 |
| 25.85 | 20.00 | Ps. 90.00 |
| 32.31 | 25.00 | Ps. 90.00 |
| 38.78 | 30.00 | Ps. 90.00 |
| 45.24 | 35.00 | Ps. 90.00 |
| 51.70 | 40.00 | Ps. 90.00 |
| 58.16 | 45.00 | Ps. 90.00 |
| 64.63 | 50.00 | Ps. 90.00 |
| 71.09 | 55.00 | Ps. 90.00 |
| 77.55 | 60.00 | Ps. 90.00 |
| 84.01 | 65.00 | Ps. 90.00 |
| 90.48 | 70.00 | Ps. 90.00 |
| 96.94 | 75.00 | Ps. 90.00 |
| 103.40 | 80.00 | Ps. 90.00 |
| 109.86 | 85.00 | Ps. 90.00 |
| 116.33 | 90.00 | Ps. 90.00 |
| 122.79 | 95.00 | Ps. 95.00 |
| 129.25 | 100.00 | Ps. 100.00 |
| 131.84 | 102.00 | Ps. 102.74 |
| 130.54 | 101.00 | Ps. 101.37 |
| 133.13 | 103.00 | Ps. 104.11 |
| 139.59 | 108.00 | Ps. 110.96 |
| 142.18 | 110.00 | Ps. 113.70 |
| 148.64 | 115.00 | Ps. 120.55 |
| 155.10 | 120.00 | Ps. 127.40 |
| 161.56 | 125.00 | Ps. 134.25 |
| 168.03 | 130.00 | Ps. 141.10 |
| 174.49 | 135.00 | Ps. 147.95 |
| 180.95 | 140.00 | Ps. 147.95 |
| 187.41 | 145.00 | Ps. 147.95 |
| 193.88 | 150.00 | Ps. 147.95 |
| 206.80 | 160.00 | Ps. 147.95 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 193 |

---

**Hedged Position as of December 31<sup>st</sup>, 2022**

**Hedged Positions**

**ASSETS: BAB304R DC053, PYL306L DC043, NVD307L DC130, XLF302R DC023, CTI308L DC012, BAB302R DC063, SPY303R DC149, FBK309L DC115, ADB310L DC015, FBK304R DC116, XLE304R DC019, SPY304RDC152, SPY305R DC155, FXI305R DC037, QQQ306R DC033, QQQ306R DC034, IBB306R DC003, SXE406R DC069, SPY306R DC163, SPY307R DC171, QQQ307R DC035, SOX307R DC003, ADB401R DC016, QCM401R DC012,XLK407R DC015, MTP301L DC122, QQQ307R DC036, SPY307R DC175, SOX307R DC005, SPY308R DC184, QQQ308R DC039, SPY308R DC187, SOX309R DC006, SPY309R DC190,QQQ309R DC041,QQQ309R DC042,SPY309R DC195, SPY310R DC200, QQQ310R DC043, MLI310L DC021, AMZ404R DC259, XLE310R DC020, TSL304L DC082, XLE310R DC021, GOL404R DC077, SPY311R DC205, XLF311R DC024,GOL405R DC079,CTI311L DC013,SPY405R DC210, SPY406R DC215, QQQ406R DC052, CRM312L DC058, AMZ306L DC261.**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Asset type** | **Issuer / Serie** | **Number of shares** | **Market price** | **Beta coef.** | **Period in months used for beta** | **Delta coefic. (for options and warrants)** | **Delta (shares)** | **Delta (securities)** |
| HEDGE | BAB304R DC053 | 486942 | 0 | 1 | 12 | 0.003250252 | 1582.68 | 1582.68 |
| HEDGE | PYL306L DC043 | 358060 | 0 | 1 | 12 | 0.007109741 | 2545.71396 | 2545.71396 |
| HEDGE | NVD307L DC130 | 506200 | 0 | 1 | 12 | 1.98E-02 | 10018.13006 | 10018.13006 |
| HEDGE | XLF302R DC023 | 326500 | 0 | 1 | 12 | 0.049872903 | 16283.50 | 16283.50 |
| HEDGE | CTI308L DC012 | 365000 | 0 | 1 | 12 | 0.077996469 | 28468.71108 | 28468.71108 |
| HEDGE | BAB302R DC063 | 475300 | 0 | 1 | 12 | 2.74E-02 | 13034.24032 | 13034.24032 |
| HEDGE | SPY303R DC149 | 772000 | 0 | 1 | 12 | 0.003082755 | 2379.89 | 2379.89 |
| HEDGE | FBK309L DC115 | 133200 | 0 | 1 | 12 | 0.024095517 | 3209.52 | 3209.52 |
| HEDGE | ADB310L DC015 | 92400 | 0 | 1 | 12 | 0.010396425 | 960.62965 | 960.62965 |
| HEDGE | FBK304R DC116 | 869300 | 0 | 1 | 12 | 0.0002839 | 246.79 | 246.79 |
| HEDGE | XLE304R DC019 | 110000 | 0 | 1 | 12 | 0.046948937 | 5164.38 | 5164.38 |
| HEDGE | SPY304R DC152 | 121000 | 0 | 1 | 12 | 0.001034749 | 125.20 | 125.20 |
| HEDGE | SPY305R DC155 | 2084700 | 0 | 1 | 12 | 0.002259244 | 4709.85 | 4709.85 |
| HEDGE | FXI305R DC037 | 276000 | 0 | 1 | 12 | 0.073230524 | 20211.62458 | 20211.62458 |
| HEDGE | QQQ306R DC033 | 1886200 | 0 | 1 | 12 | 0.003255231 | 6140.02 | 6140.02 |
| HEDGE | QQQ306R DC034 | 318000 | 0 | 1 | 12 | 0.007865395 | 2501.20 | 2501.20 |
| HEDGE | IBB306R DC003 | 77500 | 0 | 1 | 12 | 0.006744846 | 522.73 | 522.73 |
| HEDGE | SXE406R DC069 | 550000 | 0 | 1 | 12 | 0.000125191 | 68.86 | 68.86 |
| HEDGE | SPY306R DC163 | 160000 | 0 | 1 | 12 | 0.004056749 | 649.07984 | 649.07984 |
| HEDGE | SPY307R DC171 | 217000 | 0 | 1 | 12 | 0.003879133 | 841.77191 | 841.77191 |
| HEDGE | QQQ307R DC035 | 566500 | 0 | 1 | 12 | 0.005018322 | 2842.88 | 2842.88 |
| HEDGE | SOX307R DC003 | 237000 | 0 | 1 | 12 | 0.004380679 | 1038.22086 | 1038.22086 |
| HEDGE | ADB401R DC016 | 120000 | 0 | 1 | 12 | 0.004447629 | 533.72 | 533.72 |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 194 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| HEDGE | QCM401R DC012 | 120000 | 0 | 1 | 12 | 0.013252499 | 1590.30 |
| HEDGE | XLK407R DC015 | 194190 | 0 | 1 | 12 | 0.023367817 | 4537.80 |
| HEDGE | MTP301L DC122 | 100000 | 0 | 1 | 12 | 0.061572823 | 6157.28 |
| HEDGE | QQQ307R DC036 | 267000 | 0 | 1 | 12 | 0.003816735 | 1019.06812 |
| HEDGE | SPY307R DC175 | 79500 | 0 | 1 | 12 | 0.004236447 | 336.79757 |
| HEDGE | SOX307R DC005 | 169750 | 0 | 1 | 12 | 0.004085785 | 693.56202 |
| HEDGE | SPY308R DC184 | 100000 | 0 | 1 | 12 | 0.004040589 | 404.05889 |
| HEDGE | QQQ308R DC039 | 142500 | 0 | 1 | 12 | 0.003050517 | 434.70 |
| HEDGE | SPY308R DC187 | 88500 | 0 | 1 | 12 | 0.003704219 | 327.82338 |
| HEDGE | SOX309R DC006 | 139000 | 0 | 1 | 12 | 0.003888372 | 540.48364 |
| HEDGE | SPY309R DC190 | 175000 | 0 | 1 | 12 | 0.004173778 | 730.41107 |
| HEDGE | QQQ309R DC041 | 445000 | 0 | 1 | 12 | 0.004385718 | 1951.64453 |
| HEDGE | QQQ309R DC042 | 154500 | 0 | 1 | 12 | 0.004803592 | 742.15491 |
| HEDGE | SPY309R DC195 | 162500 | 0 | 1 | 12 | 0.003841157 | 624.18796 |
| HEDGE | SPY310R DC200 | 110000 | 0 | 1 | 12 | 0.003773704 | 415.10748 |
| HEDGE | QQQ310R DC043 | 120000 | 0 | 1 | 12 | 0.004918066 | 590.16792 |
| HEDGE | MLI310L DC021 | 147500 | 0 | 1 | 12 | 0.005538239 | 816.89023 |
| HEDGE | AMZ404R DC259 | 124330 | 0 | 1 | 12 | 0.016751424 | 2082.70457 |
| HEDGE | XLE310R DC020 | 370500 | 0 | 1 | 12 | 0.009857998 | 3652.38819 |
| HEDGE | TSL304L DC082 | 100000 | 0 | 1 | 12 | 0.035097581 | 3509.75806 |
| HEDGE | XLE310R DC021 | 100000 | 0 | 1 | 12 | 0.013949487 | 1394.94869 |
| HEDGE | GOL404R DC077 | 756500 | 0 | 1 | 12 | 0.015603355 | 11803.93776 |
| HEDGE | SPY311R DC205 | 192000 | 0 | 1 | 12 | 0.00436396 | 837.88 |
| HEDGE | XLF311R DC024 | 108500 | 0 | 1 | 12 | 0.044966755 | 4878.89288 |
| HEDGE | GOL405R DC079 | 197500 | 0 | 1 | 12 | 0.015772069 | 3114.98 |
| HEDGE | CTI311L DC013 | 122000 | 0 | 1 | 12 | 0.093936899 | 11460.3017 |
| HEDGE | SPY405R DC210 | 237000 | 0 | 1 | 12 | 0.002517503 | 596.64822 |
| HEDGE | SPY406R DC215 | 152500 | 0 | 1 | 12 | 0.001940702 | 295.95705 |
| HEDGE | QQQ406R DC052 | 322500 | 0 | 1 | 12 | 0.00218239 | 703.82 |
| HEDGE | CRM312L DC058 | 101500 | 0 | 1 | 12 | 2.83E-02 | 2873.99593 |
| HEDGE | AMZ306L DC261 | 100000 | 0 | 1 | 12 | 0.018103198 | 1810.32 |
| OBLIGATION | BAB304R DC053 | 486942 | 0 | 1 | 12 | (0.003250252) | (1582.68) |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 195 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| OBLIGATION | PYL306L DC043 | 358060 | 0 | 1 | 12 | (7.11E-03) | (2545.71396) |
| OBLIGATION | NVD307L DC130 | 506200 | 0 | 1 | 12 | (0.019790854) | (10018.13) |
| OBLIGATION | XLF302R DC023 | 326500 | 0 | 1 | 12 | (0.049872903) | (16283.50) |
| OBLIGATION | CTI308L DC012 | 365000 | 0 | 1 | 12 | (0.077996469) | (28468.71108) |
| OBLIGATION | BAB302R DC063 | 475300 | 0 | 1 | 12 | (0.027423186) | (13034.24) |
| OBLIGATION | SPY303R DC149 | 772000 | 0 | 1 | 12 | (0.003082755) | (2379.89) |
| OBLIGATION | FBK309L DC115 | 133200 | 0 | 1 | 12 | (0.024095517) | (3209.52) |
| OBLIGATION | ADB310L DC015 | 92400 | 0 | 1 | 12 | (0.010396425) | (960.63) |
| OBLIGATION | FBK304R DC116 | 869300 | 0 | 1 | 12 | (0.0002839) | (246.79) |
| OBLIGATION | XLE304R DC019 | 110000 | 0 | 1 | 12 | (0.046948937) | (5164.38) |
| OBLIGATION | SPY304R DC152 | 121000 | 0 | 1 | 12 | (0.001034749) | (125.20465) |
| OBLIGATION | SPY305R DC155 | 2084700 | 0 | 1 | 12 | (0.002259244) | (4709.85) |
| OBLIGATION | FXI305R DC037 | 276000 | 0 | 1 | 12 | (0.073230524) | (20211.62) |
| OBLIGATION | QQQ306R DC033 | 1886200 | 0 | 1 | 12 | (0.003255231) | (6140.01619) |
| OBLIGATION | QQQ306R DC034 | 318000 | 0 | 1 | 12 | (0.007865395) | (2501.19561) |
| OBLIGATION | IBB306R DC003 | 77500 | 0 | 1 | 12 | (0.006744846) | (522.72554) |
| OBLIGATION | SXE406R DC069 | 550000 | 0 | 1 | 12 | (0.000125191) | (68.85527) |
| OBLIGATION | SPY306R DC163 | 160000 | 0 | 1 | 12 | (0.004056749) | (649.07984) |
| OBLIGATION | SPY307R DC171 | 217000 | 0 | 1 | 12 | (0.003879133) | (841.77191) |
| OBLIGATION | QQQ307R DC035 | 566500 | 0 | 1 | 12 | (0.005018322) | (2842.8792) |
| OBLIGATION | SOX307R DC003 | 237000 | 0 | 1 | 12 | (0.004380679) | (1038.22086) |
| OBLIGATION | ADB401R DC016 | 120000 | 0 | 1 | 12 | (0.004447629) | (533.71545) |
| OBLIGATION | QCM401R DC012 | 120000 | 0 | 1 | 12 | (0.013252499) | (1590.29986) |
| OBLIGATION | XLK407R DC015 | 194190 | 0 | 1 | 12 | (0.023367817) | (4537.7963) |
| OBLIGATION | MTP301L DC122 | 100000 | 0 | 1 | 12 | (0.061572823) | (6157.28233) |
| OBLIGATION | QQQ307R DC036 | 267000 | 0 | 1 | 12 | (0.003816735) | (1019.06812) |
| OBLIGATION | SPY307R DC175 | 79500 | 0 | 1 | 12 | (0.004236447) | (336.79757) |
| OBLIGATION | SOX307R DC005 | 169750 | 0 | 1 | 12 | (0.004085785) | (693.56202) |
| OBLIGATION | SPY308R DC184 | 100000 | 0 | 1 | 12 | (0.004040589) | (404.05889) |
| OBLIGATION | QQQ308R DC039 | 142500 | 0 | 1 | 12 | (0.003050517) | (434.69862) |
| OBLIGATION | SPY308R DC187 | 88500 | 0 | 1 | 12 | (0.003704219) | (327.82338) |
| OBLIGATION | SOX309R DC006 | 139000 | 0 | 1 | 12 | (0.003888372) | (540.48364) |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 196 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| OBLIGATION | SPY309R DC190 | 175000 | 0 | 1 | 12 | (0.004173778) | (730.41107) |
| OBLIGATION | QQQ309R DC041 | 445000 | 0 | 1 | 12 | (0.004385718) | (1951.64453) |
| OBLIGATION | QQQ309R DC042 | 154500 | 0 | 1 | 12 | (0.004803592) | (742.15491) |
| OBLIGATION | SPY309R DC195 | 162500 | 0 | 1 | 12 | (0.003841157) | (624.18796) |
| OBLIGATION | SPY310R DC200 | 110000 | 0 | 1 | 12 | (0.003773704) | (415.10748) |
| OBLIGATION | QQQ310R DC043 | 120000 | 0 | 1 | 12 | (0.004918066) | (590.16792) |
| OBLIGATION | MLI310L DC021 | 147500 | 0 | 1 | 12 | (0.005538239) | (816.89023) |
| OBLIGATION | AMZ404R DC259 | 124330 | 0 | 1 | 12 | (0.016751424) | (2082.70457) |
| OBLIGATION | XLE310R DC020 | 370500 | 0 | 1 | 12 | (0.009857998) | (3652.38819) |
| OBLIGATION | TSL304L DC082 | 100000 | 0 | 1 | 12 | (0.035097581) | (3509.75806) |
| OBLIGATION | XLE310R DC021 | 100000 | 0 | 1 | 12 | (0.013949487) | (1394.94869) |
| OBLIGATION | GOL404R DC077 | 756500 | 0 | 1 | 12 | (0.015603355) | (11803.93776) |
| OBLIGATION | SPY311R DC205 | 192000 | 0 | 1 | 12 | (0.00436396) | (837.8803) |
| OBLIGATION | XLF311R DC024 | 108500 | 0 | 1 | 12 | (0.044966755) | (4878.89288) |
| OBLIGATION | GOL405R DC079 | 197500 | 0 | 1 | 12 | (0.015772069) | (3114.98361) |
| OBLIGATION | CTI311L DC013 | 122000 | 0 | 1 | 12 | (0.093936899) | (11460.3017) |
| OBLIGATION | SPY405R DC210 | 237000 | 0 | 1 | 12 | (0.002517503) | (596.64822) |
| OBLIGATION | SPY406R DC215 | 152500 | 0 | 1 | 12 | (0.001940702) | (295.95705) |
| OBLIGATION | QQQ406R DC052 | 322500 | 0 | 1 | 12 | (0.00218239) | (703.82069) |
| OBLIGATION | CRM312L DC058 | 101500 | 0 | 1 | 12 | (0.028315231) | (2873.99593) |
| OBLIGATION | AMZ306L DC261 | 100000 | 0 | 1 | 12 | (0.018103198) | (1810.31978) |

---

---

| | | |
|:---|:---|:---|
| **DELTA AS ISSUERS** | **DELTA AS ISSUERS** | **DELTA AS ISSUERS** |
| **Issuer / Serie** | **Asset type** | **Total** |
| BAB304R DC053 | HEDGE | 1582.68 |
|  | OBLIGATION | (1582.68) |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 197 |

---

---

| | | |
|:---|:---|:---|
| PYL306L DC043 | HEDGE | 2545.71 |
|  | OBLIGATION | (2545.71) |
| NVD307L DC130 | HEDGE | 10018.13 |
|  | OBLIGATION | (10018.13) |
| XLF302R DC023 | HEDGE | 16283.50 |
|  | OBLIGATION | (16283.50) |
| CTI308L DC012 | HEDGE | 28468.71 |
|  | OBLIGATION | (28468.71) |
| BAB302R DC063 | HEDGE | 13034.24 |
|  | OBLIGATION | (13034.24) |
| SPY303R DC149 | HEDGE | 2379.89 |
|  | OBLIGATION | (2379.89) |
| FBK309L DC115 | HEDGE | 3209.52 |
|  | OBLIGATION | (3209.52) |
| ADB310L DC015 | HEDGE | 960.63 |
|  | OBLIGATION | (960.63) |
| FBK304R DC116 | HEDGE | 246.79 |
|  | OBLIGATION | (246.79) |
| XLE304R DC019 | HEDGE | 5164.38 |
|  | OBLIGATION | (5164.38) |
| SPY304R DC152 | HEDGE | 125.20 |
|  | OBLIGATION | (125.20) |
| SPY305R DC155 | HEDGE | 4709.85 |
|  | OBLIGATION | (4709.85) |
| FXI305R DC037 | HEDGE | 20211.62 |
|  | OBLIGATION | (20211.62) |
| QQQ306R DC033 | HEDGE | 6140.02 |
|  | OBLIGATION | (6140.02) |
| QQQ306R DC034 | HEDGE | 2501.20 |
|  | OBLIGATION | (2501.20) |
| IBB306R DC003 | HEDGE | 522.73 |
|  | OBLIGATION | (522.73) |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 198 |

---

---

| | | |
|:---|:---|:---|
| SXE406R DC069 | HEDGE | 68.86 |
|  | OBLIGATION | (68.86) |
| SPY306R DC163 | HEDGE | 649.08 |
|  | OBLIGATION | (649.08) |
| SPY307R DC171 | HEDGE | 841.77 |
|  | OBLIGATION | (841.77) |
| QQQ307R DC035 | HEDGE | 2842.88 |
|  | OBLIGATION | (2842.88) |
| SOX307R DC003 | HEDGE | 1038.22 |
|  | OBLIGATION | (1038.22) |
| ADB401R DC016 | HEDGE | 533.72 |
|  | OBLIGATION | (533.72) |
| QCM401R DC012 | HEDGE | 1590.30 |
|  | OBLIGATION | (1590.30) |
| XLK407R DC015 | HEDGE | 4537.80 |
|  | OBLIGATION | (4537.80) |
| MTP301L DC122 | HEDGE | 6157.28 |
|  | OBLIGATION | (6157.28) |
| QQQ307R DC036 | HEDGE | 1019.07 |
|  | OBLIGATION | (1019.07) |
| SPY307R DC175 | HEDGE | 336.80 |
|  | OBLIGATION | (336.80) |
| SOX307R DC005 | HEDGE | 693.56 |
|  | OBLIGATION | (693.56) |
| SPY308R DC184 | HEDGE | 404.06 |
|  | OBLIGATION | (404.06) |
| QQQ308R DC039 | HEDGE | 434.70 |
|  | OBLIGATION | (434.70) |
| SPY308R DC187 | HEDGE | 327.82 |
|  | OBLIGATION | (327.82) |
| SOX309R DC006 | HEDGE | 540.48 |
|  | OBLIGATION | (540.48) |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 199 |

---

---

| | | |
|:---|:---|:---|
| SPY309R DC190 | HEDGE | 730.41 |
|  | OBLIGATION | (730.41) |
| QQQ309R DC041 | HEDGE | 1951.64 |
|  | OBLIGATION | (1951.64) |
| QQQ309R DC042 | HEDGE | 742.15 |
|  | OBLIGATION | (742.15) |
| SPY309R DC195 | HEDGE | 624.19 |
|  | OBLIGATION | (624.19) |
| SPY310R DC200 | HEDGE | 415.11 |
|  | OBLIGATION | (415.11) |
| QQQ310R DC043 | HEDGE | 590.17 |
|  | OBLIGATION | (590.17) |
| MLI310L DC021 | HEDGE | 816.89 |
|  | OBLIGATION | (816.89) |
| AMZ404R DC259 | HEDGE | 2082.70 |
|  | OBLIGATION | (2082.70) |
| XLE310R DC020 | HEDGE | 3652.39 |
|  | OBLIGATION | (3652.39) |
| TSL304L DC082 | HEDGE | 3509.76 |
|  | OBLIGATION | (3509.76) |
| XLE310R DC021 | HEDGE | 1394.95 |
|  | OBLIGATION | (1394.95) |
| GOL404R DC077 | HEDGE | 11803.94 |
|  | OBLIGATION | (11803.94) |
| SPY311R DC205 | HEDGE | 837.88 |
|  | OBLIGATION | (837.88) |
| XLF311R DC024 | HEDGE | 4878.89 |
|  | OBLIGATION | (4878.89) |
| GOL405R DC079 | HEDGE | 3114.98 |
|  | OBLIGATION | (3114.98) |
| CTI311L DC013 | HEDGE | 11460.30 |
|  | OBLIGATION | (11460.30) |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 200 |

---

---

| | | |
|:---|:---|:---|
| SPY405R DC210 | HEDGE | 596.65 |
|  | OBLIGATION | (596.65) |
| SPY406R DC215 | HEDGE | 295.96 |
|  | OBLIGATION | (295.96) |
| QQQ406R DC052 | HEDGE | 703.82 |
|  | OBLIGATION | (703.82) |
| CRM312L DC058 | HEDGE | 2874.00 |
|  | OBLIGATION | (2874.00) |
| AMZ306L DC261 | HEDGE | 1810.32 |
|  | OBLIGATION | (1810.32) |
| Total |  | 0.00 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **ISSUER** | **DELTA (SHARES)** | **ORIGINAL BETA** | **STANDARD ERROR** | **DELTA IN TERMS OF ASSETS** | **DELTA HEDGE IN SECURITIES** | **DELTA OBLIGATIONS IN SECURITIES** |
| BAB304R DC053 | 0 | 1 | 0 | 0 | 1582.68 | (1582.68) |
| PYL306L DC043 | 0 | 1 | 0 | 0 | 2545.71396 | (2545.71396) |
| NVD307L DC130 | 0 | 1 | 0 | 0 | 10018.13006 | (10018.13006) |
| XLF302R DC023 | 0 | 1 | 0 | 0 | 16283.50 | (16283.50) |
| CTI308L DC012 | 0 | 1 | 0 | 0 | 28468.71108 | (28468.71108) |
| BAB302R DC063 | 0 | 1 | 0 | 0 | 13034.24032 | (13034.24032) |

---

---

| | |
|:---|:---|
| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 201 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| SPY303R DC149 | 0 | 1 | 0 | 2379.89 |
| FBK309L DC115 | 0 | 1 | 0 | 3209.52 |
| ADB310L DC015 | 0 | 1 | 0 | 960.62965 |
| FBK304R DC116 | 0 | 1 | 0 | 246.79 |
| XLE304R DC019 | 0 | 1 | 0 | 5164.38 |
| SPY304R DC152 | 0 | 1 | 0 | 125.20 |
| SPY305R DC155 | 0 | 1 | 0 | 4709.85 |
| FXI305R DC037 | 0 | 1 | 0 | 20211.62458 |
| QQQ306R DC033 | 0 | 1 | 0 | 6140.02 |
| QQQ306R DC034 | 0 | 1 | 0 | 2501.20 |
| IBB306R DC003 | 0 | 1 | 0 | 522.73 |
| SXE406R DC069 | 0 | 1 | 0 | 68.86 |
| SPY306R DC163 | 0 | 1 | 0 | 649.07984 |
| SPY307R DC171 | 0 | 1 | 0 | 841.77191 |
| QQQ307R DC035 | 0 | 1 | 0 | 2842.88 |
| SOX307R DC003 | 0 | 1 | 0 | 1038.22086 |
| ADB401R DC016 | 0 | 1 | 0 | 533.72 |
| QCM401R DC012 | 0 | 1 | 0 | 1590.30 |
| XLK407R DC015 | 0 | 1 | 0 | 4537.80 |
| MTP301L DC122 | 0 | 1 | 0 | 6157.28 |
| QQQ307R DC036 | 0 | 1 | 0 | 1019.06812 |
| SPY307R DC175 | 0 | 1 | 0 | 336.79757 |
| SOX307R DC005 | 0 | 1 | 0 | 693.56202 |
| SPY308R DC184 | 0 | 1 | 0 | 404.05889 |
| QQQ308R DC039 | 0 | 1 | 0 | 434.70 |
| SPY308R DC187 | 0 | 1 | 0 | 327.82338 |
| SOX309R DC006 | 0 | 1 | 0 | 540.48364 |
| SPY309R DC190 | 0 | 1 | 0 | 730.41107 |
| QQQ309R DC041 | 0 | 1 | 0 | 1951.64453 |
| QQQ309R DC042 | 0 | 1 | 0 | 742.15491 |
| SPY309R DC195 | 0 | 1 | 0 | 624.18796 |
| SPY310R DC200 | 0 | 1 | 0 | 415.10748 |

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| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 202 |

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| | | | | |
|:---|:---|:---|:---|:---|
| QQQ310R DC043 | 0 | 1 | 0 | 590.16792 |
| MLI310L DC021 | 0 | 1 | 0 | 816.89023 |
| AMZ404R DC259 | 0 | 1 | 0 | 2082.70457 |
| XLE310R DC020 | 0 | 1 | 0 | 3652.38819 |
| TSL304L DC082 | 0 | 1 | 0 | 3509.75806 |
| XLE310R DC021 | 0 | 1 | 0 | 1394.94869 |
| GOL404R DC077 | 0 | 1 | 0 | 11803.93776 |
| SPY311R DC205 | 0 | 1 | 0 | 837.8803 |
| XLF311R DC024 | 0 | 1 | 0 | 4878.89288 |
| GOL405R DC079 | 0 | 1 | 0 | 3114.98361 |
| CTI311L DC013 | 0 | 1 | 0 | 11460.3017 |
| SPY405R DC210 | 0 | 1 | 0 | 596.64822 |
| SPY406R DC215 | 0 | 1 | 0 | 295.95705 |
| QQQ406R DC052 | 0 | 1 | 0 | 703.82069 |
| CRM312L DC058 | 0 | 1 | 0 | 2873.99593 |
| AMZ306L DC261 | 0 | 1 | 0 | 1810.31978 |

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| Earnings Release \| 4Q.2022<br>| ![](logo.jpg) |
| Banco Santander México<br>| 203 |

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**Item 2**

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4Q.22 Earnings Presentation Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México.

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2 Safe Harbor Statement Banco Santander México cautions that this presentation may contain forward - looking statements within the meaning of the U . S . Private Securities Litigation Reform Act of 1995 . These forward - looking statements could be found in various places throughout this presentation and include, without limitation, statements regarding our intent, belief, targets or current expectations in connection with : asset growth and sources of funding ; growth of our fee - based business ; expansion of our distribution network ; financing plans ; competition ; impact of regulation and the interpretation thereof ; action to modify or revoke our banking license ; exposure to market risks including interest rate risk, foreign exchange risk and equity price risk ; exposure to credit risks including credit default risk and settlement risk ; projected capital expenditures ; capitalization requirements and level of reserves ; investment in our formation technology platform ; liquidity ; trends affecting the economy generally ; and trends affecting our financial condition and our results of operations . While these forward - looking statements represent our judgment and future expectations concerning the development of our business, many important factors could cause actual results to differ substantially from those anticipated in forward - looking statements . These factors include, among other things : changes in capital markets in general that may affect policies or attitudes towards lending to Mexico or Mexican companies ; changes in economic conditions, in Mexico in particular, in the United States or globally ; the monetary, foreign exchange and interest rate policies of the Mexican Central Bank (Banco de México) ; inflation ; deflation ; unemployment ; unanticipated turbulence in interest rates ; movements in foreign exchange rates ; movements in equity prices or other rates or prices ; changes in Mexican and foreign policies, legislation and regulations ; changes in requirements to make contributions to, for the receipt of support from programs organized by or requiring deposits to be made or assessments observed or imposed by, the Mexican government ; changes in taxes and tax laws ; competition, changes in competition and pricing environments ; our inability to hedge certain risks economically ; economic conditions that affect consumer spending and the ability of customers to comply with obligations ; the adequacy of allowance for impairment losses and other losses ; increased default by borrowers ; our inability to successfully and effectively integrate acquisitions or to evaluate risks arising from asset acquisitions ; technological changes ; changes in consumer spending and saving habits ; increased costs ; unanticipated increases in financing and other costs or the inability to obtain additional debt or equity financing on attractive terms ; changes in, or failure to comply with, banking regulations or their interpretation ; and certain other risk factors included in our annual report on Form 20 - F . The risk factors and other key factors that we have indicated in our past and future filings and reports, including those with the U . S . Securities and Exchange Commission, could adversely affect our business and financial performance . The words "believe," "may," "will," "aim," "estimate," "continue," "anticipate," "intend," "expect," "forecast" and similar words are intended to identify forward - looking statements . You should not place undue reliance on such statements, which speak only as of the date they were made . We undertake no obligation to update publicly or to revise any forward - looking statements after we distribute this presentation because of new information, future events or other factors . In light of the risks and uncertainties described above, the future events and circumstances discussed herein might not occur and are not guarantees of future performance . Note : The information contained in this presentation is not audited . Nevertheless, the consolidated accounts are prepared on the basis of the accounting principles and regulations prescribed by the Mexican National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores) for credit institutions, as amended (Mexican Banking GAAP) . All figures presented are in millions of nominal Mexican pesos, unless otherwise indicated . Historical figures are not adjusted by inflation .

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Solid Fourth Quarter Driven By Strong Revenue Expansion 3 Loan book up 7.9%  Individual loans, outpace market, supported by sustained market share gain in credit card loans, as well as stronger performance in auto and payroll loans  Significant pick - up in middle - market and financial entities loans, while still weak demand in SMEs Deposit base up 6.9% YoY; individual deposits at 41.4% of base vs 24.2% in 2016; best mix ever. Continued focus on reducing high - cost corporate deposits  Individual demand deposits +4.2%  Individual term deposits +37.3% Sound asset quality  NPL ratio 1.88% 2.18%  Cost of risk 1 1.56% 2.90% Profitability in 4Q22 reflects strong core revenues  Efficiency ratio 2 48.01% - 799 bps 47.09% - 330 bps  ROAE 3 15.12% +220 bps 15.94% +481 bps 4Q22 4Q21 4Q22 YoY Var  Corporate demand deposits - 5.8%  Corporate term deposits +24.8% Strong capital and liquidity positions  CET1 13 .93%  LCR 181 .17 % 4Q22  Historically lowest level in NPLs and CoR due to excellent risk management and one - off loans recoveries Source: Company filings under CNBV GAAP. Notes: 1) Year to date ratio = Annualized loan loss reserves (LTM) as percentage of average loans (LTM). 2) Quarterly ratio = Annualized quarterly opex as percentage of annualized quarterly income before opex - net of allowances (4Q22\*4) / Year to date ratio = Annualized cumulative opex as percentage of annualized cumulative income before opex - net of allowances (12M22). 3) Quarterly ratio = Annualized quarterly net income as a percentage of average equity (4Q21;4Q22) / Year to date r atio = Annualized cumulative net income as a percentage of average equity (4Q21;4Q22). 12M22 YoY Var

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3.7 - 2 - 6 2 6 2019 2020 2021 Decemb er 2022 Banxico's GDP Growth Expectations Survey 1 (%) 2.0 2.9 2.2 0.9 1.5 2.0 1.0 0.5 2.5 2021 2019 2020 December 2022 4 Fluctuating Macro Indicators with Decreasing GDP Expectations Source: 1) Banxico surveys on the expectations of specialists in economics of the private sector as of December 2022. 2) Instituto Mexicano del Seguro Social (IMSS) as of December 2022. 3) Instituto Nacional de Estadística y Geografía (INEGI) seasonally adjusted series as of October 2022. . Macro Indicators 3 (%) 13.1 % Growth of Formal Employment 2 (%, YoY) 2022 2023  Banxico's GDP growth expectations survey shows a decreasing trend for 2023 given the moderate outlook on private consumption and investment, along with the weak economic environment and uncertainty that prevails globally .  According to the Mexican Institute of Social Security, more than 750 , 000 new jobs were registered during 2022 , the third highest historical increase .  Private consumption exceeds pre - Covid levels, while industrial activity and investments are at pre - pandemic levels . 104.1 100.0 99.6 60 70 80 90 100 110 2021 2020 2019 October 2022 Private Consumption Industrial Activity Gross Fixed Investment

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5 System Loan Volumes Continue to Strengthen, with Consumer Loans Gaining Traction; Time Deposits Remains Strong Due to Higher Interest Rates Source: CNBV Banks as of November 2022 in billion pesos. Notes: 1) Includes credit cards, payroll, personal and auto loans. Total Loans Total Deposits Consumer Loans 1 (YoY Growth) Demand Deposits (YoY Growth) 4Q21 4.6% 6.2% 1Q22 10.6 2Q22 11.8% 3Q22 12.0% Nov'22 5,549 5,681 5,891 6,020 6,184 YoY Growth 3Q22 5.7% 6,796 4Q21 8.0% 1Q22 6,577 10.4% 9.8% 2Q22 10.2% Nov'22 6,229 6,450 6,569 YoY Growth 1Q22 2Q22 15.2 % 4Q21 3Q22 Nov'22 2.5 % 8.3 % 12.1 % 17.4% 10.3% Nov'22 10.4% 4Q21 1Q22 2Q22 3Q22 9.3% 7.5% 7.5%

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6 Robust Loan Portfolio Expansion. Double - Digit Growth in High - Margin Segments Source: Company filings under CNBV GAAP, in million pesos. Notes: 1) Total loans not include deferred items. 2) CNBV Banks as of November 2022. Total Loans 1 Loan Portfolio Breakdown Contribution to: Loans NII Loans 50.4% 64.3% 49.6% 35.7% 4Q22 4Q21 $$ Var YoY System YoY Growth 2 Contribution to: Loans NII Loans High - margin s egments : Middle - market 216,946 8.0% 51.5% 63.8% SMEs 51,063 (8.5%) Credit cards 64,350 20.5% 20.2% Consumer 84,756 24.0% 15.7% 417,115 10.2% Low - margin segments : Corporates 83,358 (1.3%) 48.5% 36.2% Government & Financial Entities 98,801 4.8% 5.7% Mortgages 210,807 8.8% 11.5% 392,966 5.5% System YoY growth 1 +12.0 % Middle - Market 27% Corporates 10% Gov&FinEnt 12% SMEs 6% Mortgages 26% Credit Cards 8% Consumer 11% 2Q22 4Q21 750,966 1Q22 3Q22 4Q22 770,440 783,466 802,319 810,081 +1.0% +7.9%

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7 Credit Cards and Consumer Loans Grew Above 20%, Driven Mainly by Auto and Payroll Loans Source: Company filings under CNBV GAAP, in million pesos. Market position calculated with CNBV Banks as of November 2022. Notes: 1) Includes payroll, personal, auto and microfinancing loans. Individual Loans 359,913 315,612 4Q21 4Q22 +14.0%  Like U billing represents 12.5% of total  Usage +9% YoY in 4Q22  40.2% of customers paying balances in full, up from 37.6% in 2021  Maintaining conservative origination criteria  Auto loans market share expanded +410 bps to 15.6% in November '22 vs a year ago, consolidating #3 position  Auto loan production, supported by commercial agreements with Mazda, Honda, Suzuki and Tesla  Payroll loans increased 20.8% YoY, while personal loans were up 7.9% YoY Mortgages 3Q22 4Q21 2Q22 1Q22 4Q22 193,840 197,375 202,559 207,704 210,807 +1.5% +8.8% 2Q22 4Q21 1Q22 3Q22 4Q22 54,136 53,405 57,566 60,571 64,350 +6.2% +20.5% 3Q21 2Q22 3Q22 4Q21 1Q22 80,787 76,418 68,357 72,537 84,756 +4.9% +24.0% Auto Personal Payroll  Organic growth of +11.3% YoY  One of the top mortgage originators in Mexico, with Hipoteca Plus and Hipoteca Free accounting for 56% and 41% of new mortgages  E2E digital process managing 97% of transactions Credit Cards Consumer 1

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8 Sustained Improvements in Core Digital Metrics Notes: 1) Thousands of customers. 2) Monetary transactions of individuals. 3) Sales by channel of individuals and SMEs. Figures may vary from those previously reported due to restatements. Loyal Customers 1 Digital Customers 1 Digital Channels Mobile Customers 1 2Q22 4,113 4Q21 3Q22 1Q22 4Q22 3,895 4,002 4,214 4,328 +11.1% 4Q21 3Q22 1Q22 2Q22 4Q22 5,544 5,668 5,762 5,813 6,029 +8.8% 4Q22 4Q21 5,547 1Q22 2Q22 3Q22 5,252 5,383 5,485 5,772 +9.9% 3% Dec'22 97% Dec'21 2% 42.8% 98% 49.1% Internet Mobile Dec'22 62% 56% 44% Dec'21 38% Others Digital Digital Transactions / Total Transactions 2 Products Sales by Channel 3 41% 45% Loyal / Active

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9 Commercial Loans Affected By High Comparison Basis in Corporates and Still Weak Demand in SMEs Source: Company filings under CNBV GAAP, in million pesos. Commercial Loans 450,168 435,364 4Q21 4Q22 +3.4% SMEs Middle - Market Corporates Government & Fin. Ent . 3Q22 1Q22 4Q21 2Q22 4Q22 55,787 54,175 55,790 52,509 51,063 - 2.8% - 8.5% 4Q21 2Q22 1Q22 216,946 3Q22 4Q22 200,834 220,051 223,512 227,820 - 4.8% +8.0% 4Q21 1Q22 2Q22 83,358 3Q22 4Q22 84,447 72,093 71,228 74,578 +11.8% - 1.3% 2Q22 4Q21 98,801 1Q22 3Q22 4Q22 94,296 98,458 98,008 98,350 +0.5% +4.8%

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- 5.8% 10 Term Deposits Continue Reflecting Higher Interest Rate Environment, while Demand Deposits Reflect Our Profitability Focus Source: Company filings under CNBV GAAP, in millions pesos. Notes: 1) Includes money market. Total Deposits  Contribution of individuals to total deposits was 41.4%, the highest ever  Strategy to attract more profitable deposits boosted individual demand deposits by 4.2% YoY, while corporate demand deposit decreased 5.8%  Higher interest rate environment favors term deposits vs demand deposits 72% 73% 28% 2Q22 4Q21 791,610 1Q22 27% 71% 4Q22 29% 32% 68% 3Q22 34% 66% Term Demand 783,118 787,057 765,555 837,389 +9.4% +6.9% 4Q21 563,834 4Q22 551,913 - 2.1% 4Q21 4Q22 285,476 219,284 +30.2% +4.2% Individuals Corporate +37.3% +24.8% Term Deposits 1 Demand Deposits Mix Term Deposits 1 Mix Demand Deposits 4Q22 60.8% 2016 25.2% 74.8% 39.2% 2016 21.9% 78.1% 4Q22 54.2% 45.8% Individuals Corporate

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11 Robust Liquidity and Capital Position Source: Company filings under CNBV GAAP, in million pesos. Notes: 1) Loans net of allowances divided by total deposits (Demand + Term). 2) LCR = Liquidity Coverage Ratio. / 3) In addition we have Ps.38,797 million of short - term maturities. 4) 4Q22 is preliminary. Net Loans to Deposits 1 Debt Maturity CET1 and Capitalization  Strong balance sheet and liquidity position  Diversified funding sources and manageable maturity profile  LCR 2 of 181.17%, well above 100% Banxico regulatory requirement  CET1 ratio decreased 91 bps to 13.93%, reflecting dividend payments of Ps.9,040 million in June 2022 and Ps.8,838 million in July 2022 14.84 14.89 13.84 13.46 13.93 Tier 2 4Q21 1Q22 3Q22 2Q22 4Q22 4 AT1 CET1 21.56% 20.21% 19.28% 18.90% 19.38% 148 37,406 15,225 7,100 31,670 16,343 2023 26,376 3 2025 2024 2026 2027 2028 >2028 96.17% 94.99 % 4Q21 3Q22 1Q22 2Q22 4Q22 92.94 % 102.28% 94.39%

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4.88 4.51 12M21 12M22 63,085 72,008 +14.1% 12 NII and NIM Supported by Robust Loan Growth and Higher Interest Rates Source: Company filings under CNBV GAAP, in million pesos. Notes: 1) Quarterly ratio = Annualized net interest income as percentage of daily average interest earnings assets (4Q22). Year to date ratio = Annualized net interest income (12M22) as percentage of daily average interest earnings ass ets (12M22). N et Interest Income and NIM 1  NII increased 24.3% YoY, principally due to the combination of: ▪ Higher interest income from total loan portfolio: +42.0% ▪ Higher interest income from investment in securities: +45.0% ▪ Partially offset by higher interest expense from: • Repurchase agreements: +106.7% • Time deposits: +152.9% • Demand deposits: +54.4%  NIM increased 82 bps YoY to 5.28%  Average interest rate (TIIE28) up 485 bps YoY to 10.03% 4.46 4.59 4Q21 1Q22 2Q22 16,416 4.70 16,046 4.94 3Q22 5.28 4Q22 17,277 18,370 19,945 +8.6% +24.3%

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13 Cash Management and Insurance Fees Drove Commissions and Fee Growth Source: Company filings under CNBV GAAP, in million pesos. Notes: \* Includes fees from collections and payments, account management, checks, foreign trade and others. Net Commissions and Fees Insurance 31% Credit cards 28% Cash management\* 23% Investment funds 10% Financial advisory services 5% Purchase - sale of securities and money market transactions 3% 4Q21 2Q22 1Q22 3Q22 4Q22 4,760 5,279 4,876 5,271 5,118 - 2.9% +7.5% 12M21 12M22 18,982 20,544 +8.2% Var YoY Var YoY 4Q21 3Q22 4Q22 $$% 12M21 12M22 $$% Insurance 1,437 1,545 1,574 137 9.5% 5,433 6,204 771 14.2% Credit cards 1,430 1,431 1,419 (11) (0.8%) 5,426 5,638 212 3.9% Cash management\* 1,207 1,358 1,345 138 11.4% 5,152 5,308 156 3.0% Investment funds 458 493 495 37 8.1% 1,746 1,899 153 8.8% Financial advisory services 278 393 257 (21) (7.6%) 1,298 1,398 100 7.7% Purchase - sale of securities and money market transactions 149 215 179 30 20.1% 777 771 (6) (0.8%) Bank correspondents (199) (164) (151) 48 (24.1%) (850) (674) 176 (20.7%) Net commissions and fees 4,760 5,271 5,118 358 7.5% 18,982 20,544 1,562 8.2%

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14 Gross Operating Income with Double Digit Growth Despite Lower Market Related Revenue Source: Company filings under CNBV GAAP, in million pesos. Notes: 1) Gross operating income does not include other income. Gross Operating Income 1 4Q21 3Q22 1Q22 2Q22 4Q22 22,148 26,091 22,331 23,619 24,697 +5.6% +17.8% Net Interest Income 76.5% Net Commissions and Fees 19.6% Market related revenue 3.9% 96,738 87,098 12M21 12M22 +11.1% Var YoY Var YoY 4Q21 3Q22 4Q22 Var $$ Var % 12M21 12M22 Var $$ Var % Net Interest Income 16,046 18,370 19,945 3,899 24.3% 63,085 72,008 8,923 14.1% Net Commissions and Fees 4,760 5,271 5,118 358 7.5% 18,982 20,544 1,562 8.2% Market related revenue 1,342 1,056 1,028 (314) (23.4%) 5,031 4,186 (845) (16.8%) Gross Operating Income\* 22,148 24,697 26,091 3,943 17.8% 87,098 96,738 9,640 11.1%

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15 Record Low Levels of NPLs and Cost of Risk Due to Excellent Risk Management and One - Off Loans Recoveries Source: Company filings under CNBV GAAP, in million pesos. Notes: 1) Year to date = Annualized loan loss reserves (LTM) as percentage of average loans (LTM). 2) Commercial loans include: Middle - Market, SMEs, corporates, financial institutions and government. Loan Loss Reserves (LLR) C ost of Risk 1 NPL Ratio 2Q22 1Q22 4Q21 3Q22 4Q22 2.90% 2.41% 2.06% 1.54% 1.56% +2 bps - 134 bps 785 4Q21 1Q22 3Q22 4Q22 2Q22 4,289 3,874 4,712 2,856 +500.3% +9.9% 12M22 12M21 20,817 12,227 - 41.3% 12M22 12M21 2.90% 1.56% - 134 bps 4Q21 3Q22 4Q22 Var QoQ (bps) Consumer 3.09% 2.82% 2.51% (31) Credit Card 3.56% 3.47% 2.71% (76) Other consumer 2.73% 2.33% 2.35% 2 Mortgages 4.25% 3.62% 3.01% (61) Commercial 2 1.01% 1.01% 1.14% 13 SMEs 2.80% 1.54% 1.70% 16 NPL ratio 2.18% 2.01% 1.88% (13)

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12M22 12M21 50.39% 47.09% - 330 bps 16 Growth in Administrative & Promotional Expenses Below Inflation Source: Company filings under CNBV GAAP, in million pesos. Notes: 1) Since January 2022, contributions to IPAB were reclassified to other operating income. 2) Quarterly ratio = Annualized opex as percentage of annualized income before opex - net of allowances (4Q22\*4). Year to date ratio = Annualized cumulative opex as percentage of annualized cumulative income before opex - net of allowances (12M22). Administrative & Promotional Expenses Efficiency 2 12,636 4Q21 1Q22 2Q22 3Q22 4Q22 9,475 10,128 10,400 12,310 +18.4% - 2.6% Expenses Breakdown & Performance 46.28% 4Q21 1Q22 2Q22 3Q22 4Q22 56.00 % 47.28 % 46.65 % 48.01% +173 bps - 799 bps 12M22 12M21 42,313 43,235 - 2.1% Var YoY Var YoY 4Q21 3Q22 4Q22 $$% 12M21 12M22 $$% Personnel 5,720 4,986 6,181 461 8.1% 18,152 20,278 2,126 11.7% Administrative expenses 2,735 2,672 3,056 321 11.7% 10,505 11,072 567 5.4% Technology services (IT) 2,057 1,407 2,022 (35) (1.7%) 6,079 6,062 (17) (0.3%) Depreciation and amortization 1,154 1,335 1,051 (103) (8.9%) 4,698 4,901 203 4.3% Administrative & prom expenses before IPAB 11,666 10,400 12,310 644 5.5% 39,434 42,313 2,879 7.3% IPAB 970 - - (970) (100.0%) 3,801 - (3,801) (100.0%) Administrative & prom expenses 12,636 10,400 12,310 (326) (2.6%) 43,235 42,313 (922) (2.1%)

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12M21 12M22 15.94% 11.13% +481 bps 17 Profitability Grew 20% YoY on the Back of Strong Core Revenues. ROAE Above 15% Source: Company filings under CNBV GAAP, in million pesos. Notes: 1) Quarterly ratio = Annualized net income as percentage of average equity (4Q21,4Q22). Year to date ratio = Annualized cumulative net income as percentage of average equity (4Q21,4Q22). Net Income ROAE 1 Effective Tax Rate Profit Before Taxes 1Q22 4Q22 2Q22 6,277 4Q21 3Q22 5,245 5,111 6,900 8,188 - 23.3% +19.7% 12.32 % 4Q21 3Q22 1Q22 2Q22 12.92 % 4Q22 16.93 % 20.14 % 15.12% - 502 bps +220 bps 5,669 4Q21 3Q22 1Q22 2Q22 4Q22 6,798 8,943 11,287 8,620 - 23.6% +52.1% 18,080 26,476 12M21 12M22 +46.4% 35,648 12M21 12M22 21,942 +62.5% 4Q21 1Q22 2Q22 4Q22 3Q22 7.48 % 24.82 % 22.84 % 27.46 % 27.18% - 28 bps +1,970 bps 25.73% 12M21 12M22 17.60% +813 bps

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Santander México 2022 Guidance Review 18 Metrics 2022 Target 1 2022 Results Total Loans Δ 7% - 9% 7.9% Total Deposits Δ 0% - 2% 6.9% Cost of Risk Below 2.0% 1.56% Expenses 2 Δ 8% - 9% 7.3% Tax Rate 25% - 26% 25.73% Net Income North of 40% 46.4% 1) Revised on October 27, 2022. 2) Comparable basis - excluding the contributions to IPAB in both periods.

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Questions and Answers

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20 Annexes

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21 Environmental : supporting the green transition Social: building a more inclusive society >1.7mn financially empowered people (2019 - 2022) Governance: doing business the right way 20% women in senior positions 50% independent directors 36% women on the board DJSI MILA Pacific Alliance 2022 Best Ranked Mexican Bank Note: 4Q22 data, unless otherwise stated. (1) Figures up to December 2022. (2) Million pesos. ESG assessments To suppliers (starting 2022) + MXN 18 mn Sustainable Finance 1 SCIB: 23 operations 100% renewable energy For internal electricity consumption + MXN 55 mn in social investment +194 000 beneficiaries (2022) Best Places to Work LGBT+ Award Human Rights Campaign 2023 Carbon Neutral Certificate (CER) 2022 For compensation of total emissions Further Embedding ESG to Build a More Responsible Bank

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22 Macroeconomic Source: INEGI, Banxico and Santander. \* Revised from previous quarter. GDP Growth (%) Average Exchange Rate (MXP/USD) Annual Inflation Rate (%) Central Bank Monetary Policy (%, end of year) 4.8 3.0 \* 2020 2021 2022E 2023E 2024E - 8.2 1.0 \* 1.5 \* 21.2 20.2 20.1 2020 2023E 2021 2022 2024E 19.7 \* 20.0 \* 3.2 7.4 7.8 5.2 2020 2021 2022 2023E 2024E 4.1 \* 4.25 5.50 10.50 9.00 2021 2020 2022 2023E 2024E 11.00 \* 0.8 21.2 4.2 1.9 10.00 1.6 21.7

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23 Consolidated Statement of Comprehensive Income Source: Company filings under CNBV GAAP, in million pesos. % Variation % Variation 4Q21 3Q22 4Q22 QoQ YoY 12M21 12M22 YoY Interest income 26,848 35,605 40,773 14.5 51.9 101,994 135,856 33.2 Interest expense (10,802) (17,235) (20,828) 20.8 92.8 (38,909) (63,848) 64.1 Net interest income 16,046 18,370 19,945 8.6 24.3 63,085 72,008 14.1 Provisions for loan losses (4,289) (785) (4,712) 500.3 9.9 (20,817) (12,227) (41.3) Net interest income after provisions for loan losses 11,757 17,585 15,233 (13.4) 29.6 42,268 59,781 41.4 Commission and fee income 6,943 7,450 7,438 (0.2) 7.1 26,438 29,358 11.0 Commission and fee expense (2,183) (2,179) (2,320) 6.5 6.3 (7,456) (8,814) 18.2 Net gain (loss) on financial assets and liabilities 1,342 1,056 1,028 (2.7) (23.4) 5,031 4,186 (16.8) Other operating income 416 (2,225) (449) (79.8) (207.9) (1,304) (6,874) 427.1 Administrative and promotional expenses (12,636) (10,400) (12,310) 18.4 (2.6) (43,235) (42,313) (2.1) Operating income 5,639 11,287 8,620 (23.6) 52.9 21,742 35,324 62.5 Equity in results of associated companies 30 0 0 — (100.0) 200 324 62.0 Operating income before income taxes 5,669 11,287 8,620 (23.6) 52.1 21,942 35,648 62.5 Current income taxes (1,049) (4,065) (4,952) 21.8 372.1 (3,777) (12,162) 222.0 Deferred income taxes (net) 625 966 2,609 170.1 317.4 (85) 2,990 — Income from continuing operations 5,245 8,188 6,277 (23.3) 19.7 18,080 26,476 46.4 Discontinued operations 0 0 0 — — 0 0 — Consolidated net income 5,245 8,188 6,277 (23.3) 19.7 18,080 26,476 46.4 Other comprehensive income — (327) 1,423 (535.2) — — (5,697) — Valuation of financial instruments to collect or sell — 112 1,677 1,397.3 — — (4,388) — Valuation of derivatives financial instruments for cash flow hedges — (425) 98 (123.1) — — (813) — Income and expenses related to assets held for disposal — 0 0 — — — 0 — Remeasurement of defined benefit obligation — (14) (352) — — — (496) — Cumulative translation effect — 0 0 — — — 0 — Result from holding non - monetary assets — 0 0 — — — 0 — Participation in ORI of other entities — 0 0 — — — 0 — Integral result — 7,861 7,700 (2.0) — — 20,779 — Net result attributable to: — 8,188 6,277 (23.3) — — 26,476 — Controlling interest — 8,188 6,277 (23.3) — — 26,476 — Non - controlling interest — 0 0 — — — 0 — Comprehensive income attributable to: — 7,861 7,700 (2.0) — — 20,779 — controlling interest — 7,861 7,700 (2.0) — — 20,779 — Non - controlling interest — 0 0 — — — 0 — Basic earnings per common share — 1.21 0.92 (24.0) — — 3.90 — Non - controlling interest — 0 0 — — — 0 — Net income 5,245 0 0 — — 18,080 0 —

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24 Consolidated Statement of Financial Position Source: Company filings under CNBV GAAP, in million pesos. % Variation Dec - 21 Sep - 22 Dec - 22 QoQ YoY Funds available 80,835 — — — — Cash and cash equivalents — 77,121 93,353 21.0 — Margin accounts 6,261 5,039 6,530 29.6 4.3 Investment in securities 516,562 — — — — Investments in financial instruments — 432,737 470,914 8.8 — Debtors under sale and repurchase agreements 2,043 224,118 121,859 (45.6) — Derivatives 190,722 268,556 238,644 (11.1) 25.1 Valuation adjustment for hedged financial assets 63 (44) (27) (38.6) (142.9) Total loan portafolio 750,966 802,319 810,081 1.0 7.9 (+/ -) Deferred items — 2,180 2,532 16.1 — Allowance for loan losses (23,174) (21,498) (22,220) 3.4 (4.1) Loan portafolio (net) 727,792 783,001 790,393 0.9 8.6 Accrued income receivable from securitization transactions 0 0 0 — — Other receivables (net) 69,331 87,282 62,840 (28.0) (9.4) Foreclosed assets (net) 212 436 962 120.6 353.8 Long - life assets held for sale or for distribution to owners 0 1,586 1,586 0.0 — Property, furniture and fixtures (net) 12,760 12,174 13,622 11.9 6.8 Long - term investment in shares 1,470 90 90 0.0 (93.9) Deferred taxes and deferred profit sharing (net) 19,351 — — — — Deferred charges, advance payments and intangibles 12,204 — — — — Other 46 — — — — Advance payments and other assets (net) — 4,442 3,199 (28.0) — Rights of use assets for property, furniture and equipment (net) — 5,509 6,264 13.7 — Deferred income tax assets (net) — 21,008 23,258 10.7 — Intangible assets (net) — 7,500 8,947 19.3 — Goodwill — 1,735 1,735 0.0 — Total assets 1,639,652 1,932,290 1,844,169 (4.6) 12.5 Deposits 868,635 860,514 909,890 5.7 4.7 Interbank loans and other organizations 28,770 26,446 30,806 16.5 7.1 Creditors under sale and repurchase agreements 196,858 225,744 211,878 (6.1) 7.6 Collateral sold or pledged as guarantee 20,082 199,271 116,104 (41.7) 478.1 Derivative financial instruments 184,872 259,723 235,456 (9.3) 27.4 Valuation adjustment of financial liabilities hedging 0 (33) (14) (57.6) — Lease liabilities — 6,212 6,965 12.1 — Other payables 122,179 144,514 115,913 (19.8) (5.1) Subordinated credit notes 51,643 40,240 39,384 (2.1) (23.7) Employee benefits — 10,110 11,324 12.0 — Deferred revenues and other advances 719 265 154 (41.9) (78.6) Total liabilities 1,473,758 1,773,006 1,677,861 (5.4) 13.8 Total stockholders' equity 165,894 159,284 166,308 4.4 0.2

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