Business Priorities and Profitability Strategy in Latin America

Management team focused on further improving profitability • Operating performance • BAU cost control Outperform in integrations & restructurings New cost paradigm in Europe: high potential for new efficiencies Accelerate digitisation Digitisation driving higher customer satisfaction & market share gains Expected revenue growth above peers & high structural growth in LatAm New revenue pools: new • Capital allocation Natural reweighting towards more profitable businesses • Improve pricing: minimum profitability thresholds • Monitor & actively manage unprofitable portfolios ventures & global businesses Further alignment of senior management remuneration with capital & profitability goals Santander Profitability - capital - dividends virtuous circle 7

View entire presentation