#1Strategic and Financial Analysis. Financial Division Institutional Presentation Q1'21 Santander#2Index 1 2 3 4 5 Our business model and strategy Santander Group structure and businesses Q1'21 results & activity Key takeaways Links to Grupo Santander public materials 2#3Santander 1. Our business model and strategy#4Santander, a leading financial group Q1'21 Highlights Total assets (EUR billion) 1,563 924 The Santander Way remains unchanged, continuing to deliver for all our stakeholders Customer loans (EUR billion excluding reverse repos) An engaged Customer deposits + mutual funds (EUR billion excluding repos) 1,007 and motivated team... generates customer loyalty... Branches 10,817 Q1'21 Net operating income (pre-provision profit) (EUR million) 6,272 。 Q1'21 Underlying attributable profit (EUR million) 2,138 We create value for all our stakeholders Q1'21 Attributable profit (EUR million) 1,608 Market capitalization (EUR billion; 31-03-21) 50 00 MM People (headcount) 190,175 Customers (millions) >148 ... and support for our communities, motivating our team. ... leading to strong financial results for our shareholders... Shareholders (millions) 3.9 00 Communities in 2019-2020 (million people financially empowered) 4.9 Santander Simple Personal Fair 4#5Our corporate culture: Santander Way We continue to do business in a more responsible and sustainable way OUR PURPOSE To help people and businesses prosper OUR AIM To become the best open financial services platform, by acting responsibly and earning the lasting loyalty of our people, customers, shareholders and communities ♡ Everything we do should be OUR HOW Simple Personal Fair Santander LO 5#6Santander business model Our business model is based on three pillars 1 SCALE 2 CUSTOMER FOCUS 3 DIVERSIFICATION Santander Local scale and leadership. Worldwide reach through our global businesses and PagoNxt Unique personal banking relationships strengthen customer loyalty Our geographic and business diversification makes us more resilient under adverse circumstances 6#71 Scale Market shares Local scale and leadership. Worldwide reach through our global businesses and PagoNxt 2% Deposits 3% Loans 9% Loans 7% 12% Deposits Loans Top 7 in retail 18% 11% Deposits 13% Loans auto lending 13% Deposits Loans 15% Deposits SCF 18% Loans Top 3 auto finance Digital Consumer Bank 18% Deposits Secondary segments Santander Corporate & Investment Banking SCIB Wealth Management & Insurance 10% Loans 19% Loans 10% Deposits 17% Deposits 11% Loans 11% Deposits We maintain leadership positions Santander WM&I PagoNxt Enabling greater collaboration across the Group to generate higher revenue and efficiencies Market share data: as at Dec-20 and Argentina, USA and SCF latest available. Spain includes Santander España (public criteria) + Openbank + Hub Madrid + SCF España, and Other Resident sectors in Deposits. The UK: includes London Branch. Poland: including SCF business in Poland. The US: in all states where Santander Bank operates. Brazil: deposits including debenture, LCA (agribusiness notes), LCI (real estate credit notes), financial bills (letras financeiras) and COE (certificates of structured operations) 7#82 Customer focus Customers by market, Mar-21 Customer satisfaction is essential to build loyalty Others 1% Digital Consumer Bank 13% Argentina 3% Chile 3% Spain 9% UK 16% Portugal 2% Poland 4% US 3% Brazil 33% Mexico 13% Over 148 million customers Top 3 in NPS1 in 6 countries The trust and loyalty of our customers are the most important assets for Santander Santander (1) NPS Net Promoter Score. Customer Satisfaction internal benchmark of active customers audited by Stiga / Deloitte. Data as of H2'20 8#92 Customer focus Unique personal banking relationships with over 100,000 people talking to our customers every day in our branches and other customer support services 33% 23.4 mn (+9%) Loyal/active Loyal customers customers Available anytime, anywhere, anyhow Customer support services Collaborative spaces and increased digital capabilities 21.4 mn (+9%) Individuals 2.0 mn (+10%) Companies Santander Note: data as of Mar-21 and year-on-year changes (1) Excluding Chinese banks and Sberbank of Russia Branches: >10,000 The largest branch network in the international banking world1 i ↓ T www WORK CAFÉ CAFE/ SANTANDER Santander Smart and Ágil branches guridad y 9#102 Customer focus Digital adoption has accelerated resulting in increased mobile customer base and digital sales penetration 44.2 mn (+15%) Digital customers 37.3 mn (+21%) Mobile customers Digital technology boosting financial access 50% Digital sales² as % of total sales Santander Traditional banking Branches, ATMs, retail agents, ... Digital banking Internet, mobiles, tablets, smartphones and smartwatches... +18% YOY # Accesses³ (online & mobile) +27% YoY # Transactions4 (monetary & voluntary) Guaranteeing access for all segments ● Sparsely populated communities Low-income communities ● Most vulnerable groups O University students Note: data as of Q1'21 and year-on-year changes (1) Every physical or legal person, that, being part of a commercial bank, has logged in its personal area of internet banking or mobile phone or both in the last 30 days (3) Percentage of new contracts executed through digital channels Private accesses. Logins of bank's customers on Santander internet banking or apps. ATM accesses by mobile are not included (4) Customer interaction through mobile or internet banking which resulted in a change of balance. ATM transactions are not included 10#113 Diversification Geographic diversification with a good balance between mature and developing markets Contribution to Q1'21 underlying attributable profit¹ Mar-21 Group's contribution² by primary segments Digital Consumer Bank, 11% Europe, 31% (€ Customer loans Digital Consumer Bank, 13% Europe, 60% Customer funds Digital Consumer Bank, 5% South America, 15% North America, 13% Europe, 67% South America, 29% North America, 29% South America, 14% North America, 13% Well-balanced profit distribution Santander (1) As a % of operating areas, excluding Corporate Centre (2) As a percentage of operating areas Higher exposure in Europe, greater opportunity to grow in the Americas Note: customer loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds 11#123 Diversification Business diversification among customer segments (individuals, SMEs, corporates and large corporates) Customer loans by business, Mar-21 Customer funds by business, Mar-21 Other individuals, 9% Other, 3% SCIB, 13% Loans Corporates, 13% Home mortgages, 35% SMEs, 11% Consumer, 16% SCIB, 11% Individuals demand deposits, 42% (€ Corporates, 14% Customer funds SMEs, 11% Individuals time deposits, 6% Consumer, 4% Individuals mutual funds, 12% Santander Note: customer loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds 12#13The strength of our model drives resilient results Recurring pre-provision profit with the lowest earnings per share volatility Pre-provision profit, EUR bn EPS volatility calculated using quarterly data from Jan-99 to Q4'20¹ 24 24 24 23 23 24 25 26 26 23 20 18 20 24 24 668% 330% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Pre-provision profit/loans 3.03% 3.28% 3.26% 3.25% 3.06% 2.94% 3.04% 2.90% 2.83% 2.97% 2.89% 2.80% 2.49% Cost of credit 2.44% 1.69% 1.02% 1.36% 1.40% 1.65% 1.43% 1.25% 1.18% 1.07% 1.00% 1.00% 1.28% risk pro Everyone's business Santander 118% 104% 84% 82% 75% ++ O O O (1) Source: Bloomberg, with GAAP criteria. Standard deviation of the quarterly EPS starting from the first available data since Jan-99 43% 41% 37% 12% 13#14и тагета RVICIOS ICCION CIONES/ DISEÑO Santander bga 71 Bathoge 2. WORK CAFE SANTANDER Group structure and ⚫ businesses#15New organizational structure towards the Santander of Tomorrow O One Santander (Europe, North America and South America). New operating model leveraging our global scale to deliver a better customer experience, supported by common culture and higher degrees of commonality, technology being one • Digital Consumer Bank: our vision is to become the largest digital consumer bank in the world O Global businesses (SCIB and WM&I) to enhance our local scale with global reach and collaboration 。 PagoNxt: innovative payments solutions for both Santander and non-Santander clients O • The Corporate Centre and other functions servicing the whole Group Europe Group organizational and management structure Other Europe Primary segments North America South America Digital Consumer Bank¹ Secondary segments Santander Corporate & Investment Banking Santander Wealth Management & Insurance Group functions and Corporate Centre activities PagoNxt Audit Compliance Risk Universities Communication, Corporate Marketing and Research Costs General Human Secretariat Resources Technology Financial & Control/ Operations Accounting Finance Santander (1) Combining Santander Consumer Finance and Openbank (2) Includes Legal, Governance, Tax and Security & Intelligence Strategy, Corporate Dev.& Financial Planning Exec. Chairman's Office & Responsible Banking 15#16Santander Primary segments 16#17日 EUROPE "Accelerating our business transformation in One Europe to achieve superior growth with a more efficient operating model." Q1'21 Highlights Branches 4,108 ■ MA Employees 67,189 Loyal customers (mn) 10.1 Digital Customers (mn) 15.6 Customer loans (EUR bn) 558 Customer funds (EUR bn) 675 ■ Underlying attributable profit (EUR mn) 826 Underlying ROTE 9% ◉ Strategic priorities ■■ Transform how we manage our mass-market business, simplifying our value proposition and improving customer experience, through the creation of Regional Business Owners Leverage our global businesses (SCIB and WM&I) and the connection with PagoNxt to accelerate profitable growth in the region Accelerate our digital agenda, with a common mobile experience across the region Deliver a significant share of the EUR 1 billion additional cost savings commitment for the next two years, transforming our operating model. Excel in risk management, maintaining and reinforcing our balance sheet strength Santander Note: Customer loans: Gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds More information on https://www.santander.com/en/about-us/where-we-are/europe 17#18Q1'21 Highlights Spain "The commitment to and collaboration with our customers demonstrates the full potential of Santander España" 2.7 5.3 Strategic priorities ■■ Continue to develop our distribution, operational and organizational model to reduce costs and accelerate our digital transformation Boost revenue by focusing on developing the corporate segment and improving offer for individuals and customer experience. Also, strengthen our leadership position in Private Banking and CIB Adapt the risk management model and policies, strengthening the recovery management model and mitigating operational risks Optimize capital use, focusing on value-added segments and higher profitability products Branches 2,604 ■ MA Employees 25,470 Loyal customers (mn) Digital Customers (mn) Customer loans (EUR bn) 197 Customer funds (EUR bn) 322 ◉ Underlying attributable profit (EUR mn) 243 Underlying ROTE 6% Santander Note: Customer loans: Gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds More information on https://www.santander.com/en/about-us/where-we-are/santander-espana 18#19Q1'21 Highlights UK "Santander UK creates value by serving more than 14 million active customers with tailored financial products and services" Strategic priorities ■■ Branches 564 MA Employees 21,581 Deliver growth through customer loyalty and outstanding customer experience Loyal customers (mn) 4.4 Digital Customers (mn) 6.4 ☐ Simplify and digitalize the business to improve efficiency and returns Customer loans (EUR bn) 244 Engage, motivate and develop a talented and diverse team 235 Customer funds (EUR bn) Underlying attributable profit (EUR mn) 294 Underlying ROTE 9% Santander ■ Be a responsible and sustainable business Note: Customer loans: Gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds More information on https://www.santander.com/en/about-us/where-we-are/santander-uk 19#20逾 Q1'21 Highlights Branches 438 MA Employees 6,245 Loyal customers (k) 816 2 Digital Customers (k) 970 Customer loans (EUR bn) 39 Customer funds (EUR bn) 44 Underlying attributable profit (EUR mn) 161 Underlying ROTE 16% Santander Portugal "A strategy focused on customer experience and digital solutions for a sustained and profitable growth" Strategic priorities Further the digital and commercial transformation, to make it simpler, more agile and closer to customers Grow organically in terms of profitable market share, improving our lending leadership position and leveraging our position in the Corporate and SME segments ■ Improve efficiency backed by our digital capabilities to better serve our customers Maintain an appropriate risk policy to maintain a low cost of credit, whilst maintaining a strong capital and liquidity position Note: Customer loans: Gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds More information on https://www.santander.com/en/about-us/where-we-are/santander-portugal 20 20#21Q1'21 Highlights Poland "One of the largest and most innovative financial institutions in Poland, maintaining its position of the best traditional, private and investment bank in the country" Branches 490 MA Employees 10,306 Loyal customers (mn) 2.1 Digital Customers (mn) 2.8 ■ Strategic priorities ■■ Simplify the structure, based on the One Purpose - One Process approach of One Santander Improve customer satisfaction to be among the Top 3 in NPS Customer loans (EUR bn) 29 Customer funds (EUR bn) 41 Increase profitability through effective net interest income management, higher fee income and cost control Underlying attributable profit (EUR mn) 21 Underlying ROTE¹ 5% Strengthen our employees' skills to support the transformation of Santander Polska (1) ROTE adjusted for excess capital. Otherwise 3% Santander Note: Customer loans: Gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds More information on https://www.santander.com/en/about-us/where-we-are/santander-polska 21#22NORTH AMERICA "We provide a full range of financial services with particular focus on Retail, Private and Corporate Banking" Q1'21 Highlights Branches 1,947 00 MЛ Employees 39,727 Loyal customers (mn) 4.0 Strategic priorities ■■ Boost the execution of our regional collaboration strategy, increasing our common value proposition and profitability, while we continue to leverage our global presence Digital Customers (mn) 6.3 ■ Consolidate regional IT under a single leadership Customer loans (EUR bn) 123 Customer funds (EUR bn) ■ 127 Underlying attributable profit (EUR mn) 773 Underlying ROTE¹ Continue to reduce duplications in the operating model, platform and architecture ■ Optimize expenses, in part through third party cost optimization 22% ■ Continue to boost our remittance service to drive new customer acquisition (1) ROTE adjusted for excess capital. Otherwise 14% Santander Note: Customer loans: Gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds More information on https://www.santander.com/en/about-us/where-we-are/north-america 22#23Q1'21 Highlights United States "Santander US combines a strong depositary base in the Northeast with its nationwide auto finance, wealth management and corporate banking capabilities" Branches MA Employees 571 15,991 Loyal customers (k) 380 1,044 ■ 91 86 2 Digital Customers (k) Customer loans (EUR bn) Customer funds (EUR bn) Underlying attributable profit (EUR mn) 616 Underlying ROTE¹ Strategic priorities ■■ Execute digital and branch transformation initiatives to improve customer experience and the profitability of the Consumer Banking Business Continue leveraging the capabilities of the auto finance business and interconnectivity of CIB and Wealth Management ■ Adapt business strategy to mitigate revenue impact from lower rates ☐ 30% Manage costs to improve efficiency Santander (1) Underlying RoTE adjusted for excess capital. Otherwise 16% Note: Customer loans: Gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds More information on https://www.santander.com/en/about-us/where-we-are/santander-us 23#24Q1'21 Highlights Mexico "Santander México, one of the leading financial group in the country, focused on commercial transformation and innovation" Branches 1,376 Employees 23,280 Loyal customers (mn) 3.7 2 ■ Digital Customers (mn) 5.1 Strategic priorities ■■ To become the leading bank in terms of customer experience, leveraging new tools and process improvement Maintain strong growth rates in loyal customers, as well as increase presence in high-potential businesses Customer loans (EUR bn) 31 Customer funds (EUR bn) 42 Strengthen our corporate business to maintain our position as market leaders in value-added products Underlying attributable profit (EUR mn) 182 Underlying ROTE 13% Accelerate technological transformation and digitalization, by increasing our capabilities to improve the operating model, IT performance and information security Santander Note: Customer loans: Gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds More information on https://www.santander.com/en/about-us/where-we-are/santander-mexico 24#25SOUTH AMERICA "We remain focused on expanding, sharing positive experiences from each country and delivering profitable growth" Q1'21 Highlights Branches 4,441 00 MA Employees 65,692 Loyal customers (mn) 9.1 Digital Customers (mn) 21.6 ■ Customer loans (EUR bn) 120 Strategic priorities ■■ Accelerate profitable growth, with a strategy that seeks to boost connectivity across South America through regional projects Continue to progress in digital transformation through the development of digital platforms and a more efficient model Customer funds (EUR bn) 150 ■ Maintain the strong growth of loyal and digital customers Underlying attributable profit (EUR mn) 773 Underlying ROTE ■ 19% Conduct strict risk controls regarding the impact of covid-19 Santander Note: Customer loans: Gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds More information on https://www.santander.com/en/about-us/where-we-are/south-america 25#26Q1'21 Highlights Branches 3,591 00 ■ MЛ Employees 43,384 Loyal customers (mn) 6.6 ■ Digital Customers (mn) 16.6 Customer loans (EUR bn) 67 Customer funds (EUR bn) 94 Underlying attributable profit (EUR mn) 562 Underlying ROTE 21% Brazil "The best way to grow in a profitable, recurring and sustainable manner is by providing high quality services" Strategic priorities Anticipate trends through our capacity to capture business opportunities in different scenarios Increase customer base maximizing transactionality across our new businesses, while we improve and redefine the banking experience Grow the high credit quality portfolio through the expansion of core business and the consolidation of new businesses Improve operational efficiency, enhancing the high productivity culture, whilst maintaining profitability levels by adapting and innovating rapidly Santander Note: Customer loans: Gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds More information on https://www.santander.com/en/about-us/where-we-are/santander-brasil 26#27Q1'21 Highlights Branches 335 MA Employees Loyal customers (k) 2 Digital Customers (k) 10,769 ◉ 780 1,723 Customer loans (EUR bn) 42 Customer funds (EUR bn) 40 ■ Underlying attributable profit (EUR mn) 153. Underlying ROTE 17% Chile "We are the leading bank in the country and we always have the customer at the centre of our strategy" Strategic priorities ■■ Maintaining our leadership position in local banking in an increasingly dynamic economic environment Continuing to progress in our technological developments in order to improve efficiency Expanding our digital platforms such as Life and Superdigital, improving our customer service indicators, and increasing loyal and digital customer base Santander Note: Customer loans: Gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds More information on https://www.santander.com/en/about-us/where-we-are/santander-chile 27#28Q1'21 Highlights Argentina "Towards a more digital and agile model, with customer-centric decisions" Strategic priorities ■■ Increasing our customer base and loyalty, and ensuring the best customer service Further developing new businesses Continuing our process of efficiency and simplification through digital transformation Boosting profitable growth, focusing on the transactional business and optimizing the use of capital Branches 408 Employees 9,070 Loyal customers (mn) 1.6 ■ 2 Digital Customers (mn) 2.7 Customer loans (EUR bn) 5 Customer funds (EUR bn) 9 Underlying attributable profit (EUR mn) Underlying ROTE 45 20% Santander Note: Customer loans: Gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds More information on https://www.santander.com/en/about-us/where-we-are/santander-argentina 88 28#29Uruguay "Santander Uruguay is the country's leading privately-owned bank" Q1'21 Highlights Peru "Activity focused on corporates, the country's large companies and the Group's global customers (SCIB)" Q1'21 Highlights Colombia "Focus on corporate and SCIB, and new alliances in auto finance" Q1'21 Highlights Underlying att. profit (EUR mn) 26 Underlying ROTE 22% Underlying att. profit (EUR mn) Underlying ROTE 12 Underlying att. profit (EUR mn) 5 20% Underlying ROTE 14% Strategic priorities Continue to invest in technology and process automation to further improve efficiency, accelerate digitalization and continue to increase our presence and market share Strategic priorities ■ Increasing Corporate Finance's activity and expanding our auto and consumer finance entity by widening our product range, improving distribution channels and diversifying funding sources while maintaining customer satisfaction Strategic priorities Implementing different regional initiatives such as Cockpit and Pioneer, in line with the strategy of One Santander, and launch of Prospera and Superdigital Santander 29#30Q1'21 Highlights Digital Consumer Bank "Europe's consumer finance leader: solid business model, geographic diversification and leading market shares in auto/mobility finance and in personal finance/e-commerce" D Branches 321 MA Employees 15,830 Active customers (mn) 19.3 Points of sale (k) >130 Customer loans (EUR bn) 116 Customer funds (EUR bn) Underlying attributable profit (EUR mn) 291 Underlying ROTE 54 Strategic priorities ■■ Auto: strengthen our auto financing leadership position, reinforce the leasing business and develop subscription services across our footprint. We will also develop digital online channels for the future and serve customers Consumer Non-Auto: gain market share in consumer financing solutions leveraging our position in offline to grow in ecommerce, checkout lending and BuyNowPayLater Retail: improve digital capabilities to increase customer loyalty among our customer base, boosting digital banking activity 12% Cost reduction and simplification: accelerate digitalization to transform the business and improve efficiency. Main drivers: organizational simplification, streamlining IT and redefinition of our distribution model and increased process automatization Santander Note: Customer loans: Gross loans excluding reverse repos. Customer funds: customer deposits excluding repos + marketed mutual funds More information on https://www.santander.com/en/about-us/where-we-are/digital-consumer-bank 30 30#31Santander Secondary segments 31#32Q1'21 Highlights Total income (EUR mn) Collaboration revenue одо Underlying RoRWA Underlying attributable profit (EUR mn) SCIB Santander Corporate & Investment Banking "Santander CIB supports corporate and institutional customers, offering tailored services and value-added wholesale products suited to their complexity and sophistication” Strategic priorities Expanding our content and product offerings to continue to become our clients' strategic advisors, while accelerating the digitalization of our businesses Developing a powerful ESG platform to support our customers in their transition towards more sustainable business models Creating a pan-European platform with the aim of becoming the benchmark wholesale bank in the region and offering a more differentiated service to our clients Accelerating business growth in the US under a robust control environment by exploring new business opportunities ■ Consolidate our leadership position in South America, further strengthening our franchises in Peru and Colombia Leaders in League Tables Recent Awards received 1,655 +4.7% YoY ☐ 3.0% Total income breakdown by business Total income YoY growth by region Global Markets 43% Other 4% Global Transaction Banking 27% +61% 704 +5% Structured Finance Debt Capital Markets Equity Capital Markets Global Debt Financing 26% GLOBAL FINANCE GORANCE AWARDS PFI Risk.net +41% Green Global Source: Dealogic Santander More information on https://www.santander.com/en/about-us/where-we-are/santander-corporate---investment-banking 32#33Q1'21 Highlights WM&I Santander Wealth Management & Insurance "We strive to be the best wealth manager in Europe and the Americas" Santander Private Banking Strengthen the global platform and complete the product offering Strategic priorities Santander Asset Management ■ Become the best local partner for our distribution networks Santander Insurance Complete all the end-to-end digital journeys for our products GOLD STANDARD AWARDS 2013 WINNER STA PWM WEALTH TECH AWARDS 2020 BEST PRIVATE BANK. USE OF TECHNOLOGY, LATIN AMERICA Pum The Banlar GLOBAL PRIVATE BANKING AWARDS 2020 BEST PRITATE DANT IN MEXICO Total assets under management¹ EUR 370 bn Total fees generated as % of the Group's total fees² 31% Private Banking customers (k) >200 Private banking collaboration volume +35% YoY ■ Increase investments in digital tools and channels Underlying RoRWA 6.9% ■ Enhance our global Private Wealth proposition Underlying attributable profit (EUR mn) 197 Private banking net new money (EUR bn) 3.3 Total contribution to Group's profit³ (EUR mn) 523 Santander ■ Build a competitive edge on our flagship and global products, and boost our institutional capabilities ■ Develop digital platforms for fund distribution in all markets ■ Streamline the customer experience based on our customer knowledge ■ Become a leader in SME and Auto insurance PRIVATE BEST BANK AWARD 2021 GLOBAL FINANCE Rankta JUNGLE AWARD Mejor gestora nacional Banco Mel Melhor SANTANDER Plataforma para 2020 ara Investi Retirement proposition Environmental, Social and Governance product range (1) Total assets marketed and/or managed. Private Banking + SAM excluding AUM of Private Banking customers managed by SAM (2) Including fees generated by asset management and insurance transferred to the commercial network (3) Profit after tax + net fee income generated by this business More information on https://www.santander.com/en/about-us/where-we-are/wealth-management-insurance 33 EUROMONEY PRIVATE BANKING 2021 *#34Q1'21 Highlights Merchant Solutions Active merchants (k) 1,125; +14% YoY Total payments volume (EUR bn) 22.5 bn; +26% YoY Trade Solutions Ebury active clients (k) One Trade active clients Consumer Solutions - Superdigital in Brazil Active users (k) Transaction volume (EUR mn) Santander >15 PagoNxt "Innovative payments solutions for both Santander and non-Santander clients" 4,119 • 570; +16% YoY • We are a fintech that combines the most disruptive payment businesses Always with our customer at the center, we use world-class technology to deliver an innovative and comprehensive payment service for everyone Because we are all about payments Because we are the next generation One-stop shop providing payment solutions to merchants, SMEs & corporates and consumers Targeting Santander's existing ecosystem and open market Technology-focused to deliver differentiated user experiences Strategic, close partner of Group's local banks 72; +30% YoY Levering on: Scale, Efficiency and Global reach More information on slide 53 and https://www.santander.com/en/about-us/where-we-are/PagoNxt 34#35Santander Group functions and Corporate Centre activities Global T&O strategy ⚫ HR strategy Risk management and compliance Corporate governance and internal control Our brand 35#36The T&O strategy aims to enable our digital transformation by partnering with businesses and support functions, while managing risks and improving cost efficiency Global T&O capabilities are key for our commercial and digital transformation Composed of four main domains that contribute to the digital transformation Focused on five technological pillars to respond to the changing business needs Operating model oriented to develop global products and digital services, guaranteeing their quality and security Technology Cybersecurity Operations *** ATMs Data T Santander Risk Business needs Speed Innovation Security by design Cost Service quality Open business model Management (incl. cybersecurity) Common Architecture Agile Cloud Core Deep systems technology evolution skills Data c. 2,700 professionals Robust Santander T&O allowing us to continue running the Bank and serving our customers remotely with high standards during the covid-19 crisis Global Tech 36#37HR strategy: our aim is to be an employer of choice Focus on employee engagement, leveraging our SPF culture to retain and attract the best talent 0 0 DA 95% of full-time employees in 20201 54% WORKPLA WORLDS BEST 2020 FT LEADER IN DIVERSITY Bloomberg Gender-Equality Index top EMPLOYERS INSTITUTE 2020 FINANCIAL TIMES statista 2020 190,175 Employees, Mar-21 of women employees in 20201 The SPF culture is based on our 8 corporate behaviours and 4 leadership commitments Show respect Truly listen Talk straight Keep promises Being open and inclusive Encouraging the team to prosper Our corporate management evaluation model 50% what we do 40% how we do it क 10% Risk Support people Embrace change Actively collaborate Bring passion Leading Inspiring and by example executing transformation Covid-19. Our priority is to protect the health and safety of our employees Santander (1) Last available 37#38Risk management and compliance Our Risk Management & Compliance function is key to making sure we remain a robust, safe and sustainable bank that helps people and businesses prosper We rely on: A Risk strategy that enhances our risk management & control model across Grupo Santander 피 Common Risk Principles aligned with regulatory requirements and inspired by best market practices 3 lines of defence model with a robust risk committees structure Risk Profile Assessment der Clearly defined management and control processes Covid-19 Anticipating Risk profile changes & defining strategies to mitigate impacts has been key to maintain our robust position in terms of capital and liquidity Climate change and risk management Our risk management & control model is a crucial driver of Grupo Santander contribution to sustainable economic growth and the fulfilment of our environmental commitments Risk appetite & structure of limits Scenario Analysis Risk Reporting Structure Advanced risk management tools to effectively manage and control all risks under a forward-looking approach Continuous risks identification and evaluation to address potential threats It sets the amounts and types of risks deemed prudent to assume Santander To anticipate potential impacts and take early action Comprehensive, versatile with deep analysis to facilitate decision making More information on the Group's Overview of our Corporate Governance presentation. See link to this document on page 59 Our strong Risk culture is based on the principle that all employees are risk managers, supporting long-term business sustainability risk pro 38#39Corporate governance and internal control As a responsible bank, we have a clear and robust governance which is key for guaranteeing a sustainable business model over the long term Diversified and well-balanced shareholder base 20% Effective engagement with our shareholders Effective board of directors Focus on responsible business practices and attention to all stakeholders' interests Composition of the board of directors, Mar-21 13% Board committees Executive Audit 11% 67% Non-executive directors (independent) Executive directors Non-executive directors (neither proprietary nor independent) 40% Women 33% on the board 2011 2015 Mar-21 Nomination Remuneration Risk supervision, regulation and compliance Innovation and technology Responsible banking, sustainability and culture External advisory board International advisory board Santander More information on the Group's Overview of our Corporate Governance presentation. See link to this document on page 59 39#40Corporate governance and internal control Best practices on robust governance are channelled to all subsidiaries Group-subsidiary governance model Group Board of Directors Subsidiary B Group Executive Chairman¹ Subsidiary A A Board of Directors A The Group-subsidiary governance model enhances control and oversight through: Presence of Grupo Santander in the subsidiaries' Boards of Directors establishing guidelines for board structure, dynamics and effectiveness Group CEO² B CEO/ Country Head B Regional Heads³ Reporting of the CEO / Country Heads to the Group CEO/ Regional Heads and Group Executive Committee Control, management and business functions • Compliance Audit • Risk • Control, management and business functions C Interaction between the Group's and the subsidiaries' control, management and business functions Compliance ⚫ Audit • • ⚫ Finance ⚫ Financial Control/ Accounting . Others4 • Risk • ⚫ Finance • Financial Control / Accounting ⚫ Others4 The Group's Appointment and suitability assessment procedure is a key element of Governance Santander (1) First executive (2) Second executive (3) Europe, North America and South America, reporting to Group CEO (4) Technology & Operations, Human Resources, General Secretariat, Marketing, Communications, Strategy, Santander Corporate & Investment Banking, Wealth Management & Insurance, Digital & Innovation and Global Platforms 40 40#41Our brand embeds the essence of the Group's culture and identity Santander is one of the most valued brands in the world 6th best global bank brand by BrandZ ranking, 2020 #123LbeAccount Let's make it simple Let's keep working for a better World #TheRightWay As one of our most important strategic assets, our brand helps us connect with people and businesses, demonstrating our commitment to prosperity and determination to bring it to life in a positive and sustainable manner every day. Scitcrder Work Cafe P Santander Santander Santander More information: https://brand.santander.com/en 41#42Santander 3.0121 ● Q1'21 results & activity#43Highlights oot Growth Net operating income up 15% YoY driven by 8% revenue growth (volumes up: +2% loans, +8% deposits) and cost control Strong digital adoption: 50% of sales through digital channels in Q1'21 (41% in Q1'20) and 44 million digital customers (+15% YoY) We announced the intention to make a cash offer to repurchase the outstanding shares of Santander México (c. 8.3%), consistent with the Group's strategy to deploy capital in high growth markets Profitability • • Q1'21 attributable profit of EUR 1,608 mn after recording EUR 530 mn (net of tax) in expected restructuring charges for FY21 Q1'21 underlying attributable profit of EUR 2,138 mn. Revenue growth (+8%) with flat costs improved our efficiency ratio to 45%. Additionally, the lowest quarterly LLPs since Q1'20 Increased profitability: underlying RoTE of 13.0% (7.4% FY20); underlying EPS of EUR 11.6 cents (EUR 1.4 cents in Q1'20) Strength • Cost of credit¹ improved to 1.08% vs. 1.28% FY20. Loan-loss reserves stood at EUR 24 bn, with a coverage ratio of 74% • • CET1 ratio of 12.30% with continued organic generation (+28 bps, including -15 bps for shareholder remuneration, equivalent to 40% of Q1'21 underlying profit²) TNAVps: EUR 3.84 (+2% vs. Q4'20, including the dividend of EUR 2.75 cents per share, already deducted) Delivered very positive performance in Q1'21 Santander Note: Changes in constant euros (1) 12 month rolling. Considering annualized 3M'21 provisions, cost of credit would be 0.84% in Q1'21 (1.62% in Q1'20) (2) The bank is accruing 40% of the underlying profit for shareholder remuneration, once supervisors allow 43#44Activity in Q1'21 recovering at different speeds affected by the operating and financial environment Interest-rates. Monetary policy • Low interest rates. Brazil started to raise interest rates in Q1'21 Fiscal stimulus programmes ⚫ New sizable fiscal stimulus in the US (relaunched Paycheck Protection Program) • Guarantee programmes extended Group ⚫ Negative impact on NII • This stimulus will lead to activity and revenue recovery, with better credit quality in the US Negative impact on revenue and support cost of credit Lockdown/ restrictive measures The UK published a roadmap to exit lockdown from March • Gradual easing of restrictions in the US • Lockdowns and restrictive measures introduced in other countries • Reduced activity slowed new lending and fee income generation Vaccination Different progress by countries: • The US and the UK lead among major economies • EU: slow rollout; plan to accelerate in the next few months • Brazil and Mexico are slowly accelerating Recovery of activity at different speeds • Positive impact on revenue and cost of credit Santander 44#45Santander Group Performance 45#46Q1 underlying profit of EUR 2 billion driven by solid net operating income growth (+15% YoY) and lower cost of credit % change Q1'21 (vs. Q1'20) Underlying att. profit¹ (EUR mn) Contribution to Group's Underlying profit¹ EUR mn Q1'21 Q1'20 Euros Constant euros NII 7,956 8,487 -6 5 Europe 826 +338% 31% Net fee income 2,548 2,853 -11 0 Trading and other income 886 474 87 95 Total income 11,390 11,814 -4 8 North 773 29% Operating expenses -5,118 -5,577 -8 0 America +205% Net operating income 6,272 6,237 1 15 LLPs -1,992 -3,909 -49 -43 South 773 29% Other results -467 -372 26 42 America +41% Underlying PBT 3,813 1,956 95 133 Underlying att. profit 2,138 377 467 Restructuring charges² -530 -46 Digital Consumer Bank 291 11% +25% Attributable profit 1,608 331 386 998 Santander (1) Changes in constant euros. Contribution as a % of operating areas and excluding the Corporate Centre (2) Net of tax, corresponding mainly to the UK and Portugal 46#47Strong performance in revenue, costs and LLPs in the quarter Underlying attributable profit Constant EUR mn 192 +3% vs. Q4'20 11,390 Total income +50% vs. Q4'20 11,030 11,066 10,565 10,266 2,138 -3% vs. Q4'20 1,716 1,456 5,111 1,423 4,924 5,071 5,283 5,118 Costs Q1'20 Q2 Q3 33 +8% vs. Q4'20 6,272 5,959 5,783 5,454 5,342 Net operating income Q4 Q1'21 -25% vs. Q4'20 +50% 3,487 2,967 vs. Q4'20 2,563 2,650 Underlying attributable profit (EUR mn) 377 1,531 Santander 1,750 1,423 2,138 Q1'20 Q2 Note: data in constant euros 1,992 LLPs 33 Q3 Q4 Q1'21 47#48Our strong operating performance resulted in increased profitability and TNAVps... Underlying ROTE 2.1% Q1'20 7.4% 2020 Underlying earnings per share TNAV per share EUR cents EUR 13.0% Q1'21 Statutory RoTE Q1'20: 2.0%, 2020: 1.9% and Q1'21: 12.2% Santander 1.4 7.4 11.6 TNAV + dividend +2% QoQ 4.21 3.79 3.84 Q1'20 Q4'20 Q1'21 Mar-20 Dec-20 Mar-21 Statutory earnings per share Q1'20: EUR 1.1 cents, Q4'20: EUR 0.8 cents and Q1'21: EUR 8.5 cents Dividend per share: EUR 2.75 cents Notes: The averages for the Q1 ROTE denominators are calculated on the basis of 4 months from December to March and 2020 ROTE denominator is calculated on the basis of 13 months from December to December For periods of less than a year, and in the event of non-recurring results existing, the profit used to calculate the statutory ROTE is the annualized underlying attributable profit (excluding non-recurring results), to which are added non-recurring results without annualizing them 48 48#49...and high organic generation which enabled us to maintain our solid capital position CET1 ratio quarterly evolution % +0.28 12.34 12.30 -0.13 -0.09 -0.10 Dec-20 Organic generation (1) Regulatory & Markets & others Restructuring Models Mar-21 charges (2) FL CET1 ratio 11.89 11.89 Note: Does not include repurchase of Santander México shares, which is expected to close in Q2 or Q3'21 Santander (1) Includes -15 bps for shareholder remuneration, equivalent to 40% of Q1'21 underlying profit (2) IFRS 9 2021 phase-out included (-6 bps) 49#50Santander Business segments review 50#51Business and profit growth leveraging our geographic diversification Digital customers Customer Customer loans deposits Net operating income Underlying att. profit Underlying ROTE Q1'21 (vs. Q1'20) (mn) (EUR bn) (EUR bn) (EUR mn) (EUR mn) 15.6 558 576 2,077 Europe +9% +2% +7% +36% 826 +338% 8% +6.6 pp North 6.3 123 105 1,620 773 14%2 America +13% -1%1 +9%1 +4% +205% +9.0 pp South 21.6 120 103 2,320 America +21% +10% +17% +12% 773 +41% 19% +3.4 pp Digital Consumer Bank 0.7 116 53 703 291 12% +26% -1% +7% +1% +25% +2.4 pp Santander Note: YoY changes in constant euros. Loans and advances to customers excluding reverse repos. Customer deposits excluding repos (1) Excluding Puerto Rico and Bluestem disposal impact. Otherwise, loans -4% and deposits +5% (2) ROTE adjusted for excess capital in the US: 22% 51#52Global businesses Corporate & Investment Banking Remarkable SCIB business growth from all core businesses and geographies Increase in activity driving strong revenue and underlying profit growth Wealth Management & Insurance AUM's up in Private Banking and SAM: EUR 4,700 mn net sales. Total Insurance fees up 5% YoY Total contribution to Group's profit up 1% vs. Q1'20 pre-crisis, despite PB being affected by lower interest rates, margin compression in SAM and positive non-recurring income in 2020 in Insurance Underlying RoRWA Total fees EUR 466 mn Efficiency 3.0% 31.8% 18% of Group's total AUMS EUR 370 bn (+12% YoY) EUR 788 mn 31% of Group's total Total fees Contribution to Group's profit EUR 523 mn (+1% YoY) P&L* Q1'21 vs. Q4'20 vs. Q1'20 P&L* Q1'21 vs. Q4'20 vs. Q1'20 Total income 1,655 29.1 43.9 Total income 502 -8.1 -1.7 Net operating income 1,130 49.4 70.6 Net operating income 281 -14.7 -2.7 Underlying att. profit 704 107.9 64.2 Underlying att. profit 197 -17.7 -3.4 (*) EUR mn and % change in constant euros (*) EUR mn and % change in constant euros Santander 62 52#53PagoNxt Innovative payments solutions for both Santander and non-Santander clients Merchant solutions Getnet is our merchant payments global franchise offering in-store and ecommerce acquiring, processing and value-added services Getnet* Getnet already available in 4 LatAm countries after Q1 launch in Chile Trade solutions One Trade is our global trade and international payments platform, addressing the needs of SMEs and Corporates with the latest technology CAGR mid-term (e) Q1'21 • Getnet, 3rd largest acquirer in LatAm, with higher growing rates in remote payments environment Ebury Active clients >15 k Revenue +30-40% • Volumes & commercial activity in acquiring recovered pre-covid levels One Trade Active clients 4,119 Transaction volume +100% Q1'21 Active merchants 1,125 k +14% YOY Total payments volume EUR 22.5 bn +26% YoY CAGR mid-term (e) Active merchants Total payments volume +20-30% +16% YoY Santander Note: % changes in constant euros (1) Brasil, Mexico, Chile and Argentina (2) Unbanked and underbanked population Consumer solutions PagoŅxt Consumer focuses on creating compelling, integrated payment experiences, becoming deeply embedded in consumers' financial lives S superdigital Q1'21 in Brazil Active users Transaction volume 570 k EUR 72 mn +30% YoY TAM (total addressable market) 300 mn Underserved² in LatAm 53#54Santander 4. Key takeaways#55Strong business in Q1'21 Solid P&L Strengthened balance sheet and improved profitability EUR 2.1 bn underlying attributable profit FY2021 restructuring charges recorded Revenue +8% Loans: +EUR 17 bn Deposits: +EUR 65 bn Cost of credit 1.08% Improved efficiency 45% (-227 bps) CET1 above the target range of 11-12% CET1 12.30% EUR 1.6 bn attributable profit Net operating income +15% Underlying ROTE higher than cost of capital ROTE 13.0% Santander Note: YoY changes in constant euros. Loans and advances to customers excluding reverse repos. Customer deposits excluding repos 55#56Near-term outlook Business environment 2021 outlook by business areas Santander • ⚫ We expect activity to increase as vaccination progresses, although at different speeds: Starting in the US and the UK in H1'21 • • • Some remaining pressure in Europe and LatAm with improvement expected in H2'21 Lower cost of credit expected amid current uncertainty, with uneven performance by segments Consumer and individual lending expected to increase strongly across markets, with more normalized transactionality that should be reflected in higher-than-normal revenue growth ⚫ No further interest rate cuts expected, already rising (Brazil) • • Europe: slight increase in profitability expected throughout the year, backed by forecasted household activity rebound, margin management, net fee income recovery and savings plan execution North America: after Q1 excellent results, underlying profit trends in the US should be better than initially expected (resilient revenue, cost control and lower cost of credit) South America: amid the challenging environment, Brazil should deliver continued PBT growth with increased revenue and cost of credit under control. Expected underlying ROTE of c. 20% • Digital Consumer Bank: once lockdown measures are fully lifted in Europe, we forecast a substantial acceleration in consumer demand, as seen in the US After the strong start of the year, we reiterate our targets for 2021: improve the efficiency ratio, reduce cost of credit and increase profitability 56#57Santander Responsible Banking goals We are building a more Responsible Bank aligned with our targets Top 10 company to work for¹ Women on the board of directors 33% 40% 2018 2019 2020 2021 4 6---6 - 40% ✓ 40%-60% 2025 Women in senior leadership positions² 20% 23% - 23.7%- 30% Equal pay gap³ 3% 2% 1.5% Financially empowered people4 2.0 mn 4.9 mn -0% 10 mn Green finance raised and facilitated³ (euros) Electricity used from renewable energy sources Becoming carbon neutral in our own operations Reduction of unnecessary single use plastic in corporate buildings and branches Scholarships, internships & entrepreneurs programmes People helped through our community programmes8 19 bn 33.8 bn 120 bn 43% - 50%- -- 57% 0% 60% 100% 75%- - 98% 100% 69 k 225 k 200 k 1.6 mn 4.0 mn 4 mn Santander From...To.... Cumulative Commitment target Achieved 1234 According to relevant external indexes in each country (Great Place to Work, Top Employer, Merco, etc.) Senior positions represent 1% of total workforce Calculation of equal pay gap compares employees of the same job, level and function People (unbanked, underbanked or financially vulnerable), who are given access to the financial system, receive tailored finance and increase their knowledge and resilience through financial education (5) Includes Santander overall contribution to green finance: project finance, syndicated loans, green bonds, capital finance, export finance, advisory, structuring and other products to help our clients in the transition to a low carbon economy. Commitment from 2019 to 2030 is EUR 220 bn In those countries where it is possible to certify renewable sourced electricity for the properties occupied by the Group People supported through Santander Universities initiative (students who will receive a Santander scholarship, will achieve an internship in an SME or participate in entrepreneurship programmes supported by the bank) (8) People helped through our community investment programmes (excluded Santander Universities and financial education initiatives) 57#58ww Santander Help millions around the world realise their dreams and prosper. #TheSantanderEffect Santander 5. Links to Grupo Santander public materials#59Links to Grupo Santander public materials For additional information on the Group, please click on the images, icons or flags below Q1'21 financial results Financial report Earnings presentation Financial Report 2021 ALL Together Now Q1'21 Earnings Presentation All Together Now January-March Santander Santander Series (excel) Shareholders report (interactive) Other information 2020 Annual report Strategic Overview & Executive Chairman and CEO's letters Annual report XLS QUARTERLY SHAREHOLDER REPORT JANUARY MARCH 2021 Country presentations Press release USA UK. יווווי CEO's video (4 minutes) Poland Portugal Mexico' Spain Brazil Digital Consumer Bank Fixed income presentation Santander Chile Argentina www.santander.com FIXED INCOME INVESTORS PRESENTATION Here to help you amper Santander Follow us on in Strategic Overview Annual Report 2020 All Together Now Santander Annual Report 2020 ALL Together Now Santander 2020 Online report Overview of our Corporate Governance presentation 59#60Important information Non-IFRS and alternative performance measures This presentation contains, in addition to the financial information prepared in accordance with International Financial Reporting Standards ("IFRS") and derived from our financial statements, alternative performance measures ("APMS") as defined in the Guidelines on Alternative Performance Measures issued by the European Securities and Markets Authority (ESMA) on 5 October 2015 (ESMA/2015/1415en) and other non-IFRS measures ("Non-IFRS Measures"). These financial measures that qualify as APMs and non-IFRS measures have been calculated with information from Santander Group; however those financial measures are not defined or detailed in the applicable financial reporting framework nor have been audited or reviewed by our auditors. We use these APMs and non-IFRS measures when planning, monitoring and evaluating our performance. We consider these APMs and non-IFRS measures to be useful metrics for our management and investors to compare operating performance between accounting periods, as these measures exclude items outside the ordinary course performance of our business, which are grouped in the "management adjustment" line and are further detailed in Section 3.2 of the Economic and Financial Review in our Directors' Report included in our Annual Report on Form 20-F for the year ended 31 December 2020. Nonetheless, these APMs and non-IFRS measures should be considered supplemental information to, and are not meant to substitute IFRS measures. Furthermore, companies in our industry and others may calculate or use APMs and non-IFRS measures differently, thus making them less useful for comparison purposes. For further details on APMs and Non-IFRS Measures, including its definition or a reconciliation between any applicable management indicators and the financial data presented in the consolidated financial statements prepared under IFRS, please see the 2020 Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on 26 February 2021, as well as the section "Alternative performance measures" of the annex to the Banco Santander, S.A. ("Santander") Q1 2021 Financial Report, published as Inside Information on 28 April 2021. These documents are available on Santander's website (www.santander.com). Underlying measures, which are included in this presentation, are non-IFRS measures. The businesses included in each of our geographic segments and the accounting principles under which their results are presented here may differ from the included businesses and local applicable accounting principles of our public subsidiaries in such geographies. Accordingly, the results of operations and trends shown for our geographic segments may differ materially from those of such subsidiaries. Forward-looking statements Santander advises that this presentation contains "forward-looking statements" as per the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words like "expect", "project", "anticipate", "should", "intend", "probability", "risk", "VaR", "RORAC", "RORWA", "TNAV", "target", "goal", "objective", "estimate", "future" and similar expressions. Found throughout this presentation, they include (but are not limited to) statements on our future business development, economic performance and shareholder remuneration policy. However, a number of risks, uncertainties and other important factors may cause actual developments and results to differ materially from our expectations. The following important factors, in addition to others discussed elsewhere in this presentation, could affect our future results and could cause materially different outcomes from those anticipated in forward-looking statements: (1) general economic or industry conditions of areas where we have significant operations or investments (such as a worse economic environment; higher volatility in the capital markets; inflation or deflation; changes in demographics, consumer spending, investment or saving habits; and the effects of the COVID-19 pandemic in the global economy); (2) exposure to various market risks (particularly interest rate risk, foreign exchange rate risk, equity price risk and risks associated with the replacement of benchmark indices); (3) potential losses from early repayments on our loan and investment portfolio, declines in value of collateral securing our loan portfolio, and counterparty risk; (4) political stability in Spain, the United Kingdom, other European countries, Latin America and the US (5) changes in legislation, regulations, taxes, including regulatory capital and liquidity requirements, especially in view of the UK exit of the European Union and increased regulation in response to financial crisis; (6) our ability to integrate successfully our acquisitions and related challenges that result from the inherent diversion of management's focus and resources from other strategic opportunities and operational matters; and (7) changes in our access to liquidity and funding on acceptable terms, in particular if resulting from credit spreads shifts or downgrade in credit ratings for the entire group or significant subsidiaries. Santander 50 60#61Important information Numerous factors could affect our future results and could cause those results deviating from those anticipated in the forward-looking statements. Other unknown or unpredictable factors could cause actual results to differ materially from those in the forward-looking statements. Forward-looking statements speak only as of the date of this presentation and are informed by the knowledge, information and views available on such date. Santander is not required to update or revise any forward-looking statements, regardless of new information, future events or otherwise. No offer The information contained in this presentation is subject to, and must be read in conjunction with, all other publicly available information, including, where relevant any fuller disclosure document published by Santander. Any person at any time acquiring securities must do so only on the basis of such person's own judgment as to the merits or the suitability of the securities for its purpose and only on such information as is contained in such public information having taken all such professional or other advice as it considers necessary or appropriate in the circumstances and not in reliance on the information contained in this presentation. No investment activity should be undertaken on the basis of the information contained in this presentation. In making this presentation available Santander gives no advice and makes no recommendation to buy, sell or otherwise deal in shares in Santander or in any other securities or investments whatsoever. Neither this presentation nor any of the information contained therein constitutes an offer to sell or the solicitation of an offer to buy any securities. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. Nothing contained in this presentation is intended to constitute an invitation or inducement to engage in investment activity for the purposes of the prohibition on financial promotion in the U.K. Financial Services and Markets Act 2000. Historical performance is not indicative of future results Statements about historical performance or accretion must not be construed to indicate that future performance, share price or future (including earnings per share) in any future period will necessarily match or exceed those of any prior period. Nothing in this presentation should be taken as a profit forecast. Third Party Information In particular, regarding the data provided by third parties, neither Santander, nor any of its administrators, directors or employees, either explicitly or implicitly, guarantees that these contents are exact, accurate, comprehensive or complete, nor are they obliged to keep them updated, nor to correct them in the case that any deficiency, error or omission were to be detected. Moreover, in reproducing these contents in by any means, Santander may introduce any changes it deems suitable, may omit partially or completely any of the elements of this document, and in case of any deviation between such a version and this one, Santander assumes no liability for any discrepancy. Santander 61#62Thank you. Our purpose is to help people and businesses prosper. Our culture is based on believing that everything we do should be: Simple Personal Fair Santander MEMBER OF Dow Jones Sustainability Indices In Collaboration with RobecoSAM FTSE4Good