Business Priorities and Profitability Strategy in Latin America

High focus on profitability enhancement and efficient capital allocation Improved capital allocation Profitability enhancement Natural reweighting towards our most profitable geographies Minimum profitability thresholds in all segments LatAm Global + Commercial transformation & profitability Operational efficiency: simplification & further integration Medium-term RoTE¹ 13-15% + RoRWA¹ 1.8-2.0% Medium-term FL CET11 11-12% Santander | (1) Medium term goals. Underlying for ROTE and RoRWA 35

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