Santander Group Strategy Update

We are executing the following levers to drive further improvement in profitability, aligned with our strategic plan Im proved capital allocation: more capital to our most profitable geographies Capital efficiency: minimum profitability thresholds and faster asset rotation Digitisation: driving higher revenue growth & operational efficiency Further alignment of senior management remuneration with capital goals Higher profitability leads to higher capital generation capacity and potential to increase growth & shareholder remuneration 11-12% mid-term CET1 goal offers higher capital flexibility Santander 40 40

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