Operational Levers to Enhance Profitability

Europe UK: operational & capital efficiency gains Business priorities Increasing profitability through efficiency and capital allocation Improving customer experience & satisfaction Profitable growth in retail and improved corporate returns by focusing on selected business segments • Enhancing efficiency by simplifying, digitalising and automating the bank •Capital discipline and active RWA management Goals 2018 Medium-term goal ROTE1 9% Loyal/Active customers 10-12% 30% > 34% Solid underlying lending and attractive mid-term revenue growth opportunities Focus on cost management, with expected net reduction Continued risk discipline, with still low cost of risk Note: in local currency Santander (1) Underlying 26 26

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