Santander Group Strategy Update

€20 billion investment in IT and digital - improving the customer experience while lowering the cost of delivery Digital & Technology expenditure per year SAN vs. US Big Four Peer 1 Peer 2 €Bn Santander c.5.0 Peer 3 Peer 4 Santander (1) SAN Digital investment expected in 2019 Source: Annual reports, Press releases Peers: Bank of America, Citi, JP Morgan, Wells Fargo as % of 2018 revenue 5.8 9.1% We plan to 5.8 7.7% 9.9% 7.3 9.2% 8.0 8.3% invest >€20 Bn in the coming years 31

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