Operational Levers to Enhance Profitability

Global capabilities expected to deliver c.€1.2 Bn in new efficiencies at a Group level, of which c.€1 Bn in Europe Global capabilities EUROPE 1 to enhance IT & Ops c.€730Mn operating efficiency across the Group Shared services & Others Santander c.€220Mn + REST TOTAL c.€270Mn = c. €1 Bn + = c. €220 M n Total c. €1 Bn + c.€270 Mn = c.€1.2Bn c.10% Europe's² cost base (1) Efficiencies in Europe amount to c.€1Bn, of which c.€250Mn come from Popular (including c.€180Mn from It &Ops and c.€70Mn from Shared services & Others). (2) Spain, UK, Portugal, Poland and SCF. 9

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