Santander Group Strategy Update

SCALE / DIVERSIFICATION Scale is increasingly a necessary competitive advantage "At-scale" banks who can invest in digital and technology and generate growth in customers and revenues have a disproportional advantage Digital & Technology expenditure per year # Digital customers1 Mn customers €Bn SAN vs. US Big Four as of 2018 IT spend Peer 1 29 5.8 9.1% Peer 2 29 Santander 32 Peer 3 Peer 4 Santander 36 49 as % of 2018 revenue o/w Digital investment as % of 2018 revenue 1.2 1.7% 5.8 7.7% n.a. c.5.0 9.9% 7.3 9.2% n.a. 8.0 8.3% 2 2.0 4.1% (1) Digital customers are users who have logged on through Web or Mobile platforms within the past 30 days for Santander, and in the last 90 days for reference players (2) SAN Digital investment expected in 2019 Source: Annual reports, Press releases Peers: Bank of America, Citi, JP Morgan, Wells Fargo 2.5 2.6% 14

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