Santander Group Strategy Update

US The US is an attractive market with increasingly strong and growing network effects with our European and LatAm businesses Largest banking pool with continued growth Consistent high profitability 1/3 ($550Bn) c.3% world's banking pool 13%-15% ROTE expected growth p.a. SCALE / DIVERSIFICATION Concentrated Big 4, fragmented beyond Closely linked with our core markets $1.1 Trn trade flows between our core markets Santander Source: Market data from external consultancy 17

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