Santander Group Strategy Update

We have built on our strong foundations | Scale + до Diversification Both in-market and global scale Across 10 core markets Europe Developing Predictability & Growth Lowest volatility among peers EPS quarter volatility 1,2 9% Santander VS C.140% peers avg. and Americas and Mature Net income increase 1, 2 1999-2018 5x VS 3x Santander peers avg. Santander (1) Source: Bloomberg, as of Dec-18 with GAAP Criteria. Note: Standard deviation of the quarterly EPS starting from the first available data since Jan-99. (2) Peers: Bank of America, BNP; Citi, Credit Suisse, ING, JP Morgan, Société Générale, UBS, Unicredit and Wells Fargo. 12

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