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QUARTERLY SHAREHOLDER REPORT

JANUARY - MARCH 2021

“Our first quarter results highlight our relentless customer focus and the strength of Santander’s diversification. We saw good performance across all our regions, with particularly strong growth in the US, the UK and Santander Corporate and Investment Banking.
We continue to play an important role in the economic response to the pandemic, supporting our customers while maintaining a rock-solid balance sheet.
Credit quality is robust, and capital remains above our target, allowing us to accrue 40% of the underlying profit throughout the year for shareholder remuneration once regulatory conditions allow.
The success of the vaccine rollout remains critically important to economic recovery. We are confident we will achieve our 2021 goals of improving our efficiency ratio, reducing cost of credit and increasing our profitability.”

ANA BOTÍN, GROUP EXECUTIVE CHAIRMAN OF BANCO SANTANDER

firma Ana Botín

Discover the latest news on the Group and the Santander share on the Bank’s website and social media.

Contact

Santander Shareholder Relations

  •   www.santander.com
  •   accionistas@santander.com
  •   Shareholder Helpline: +34 91 276 92 90*
  •   WhatsApp: +34 91 276 92 90*

*Lines are open Monday to Friday from 8.00 a.m. to 7.00 p.m. and on Saturdays from 8.30 a.m. to 1.30 p.m. From 1 July to 30 September there will be no service on Saturdays.

Holders of CREST Depositary Interests (CDIs)

  •   www.santandershareview.com
  •   santandershareholders@equiniti.com
  •   Shareholder Helpline: 0371 384 2000*

*Lines are open Monday to Friday from 8.30 a.m. to 5.30 p.m. (excluding English and Welsh public holidays). Callers from overseas should contact +44 (0) 121 415 7188.

Holders of American Depositary Receipts (ADRs)

  •   Bank of New York Mellon
          P.O. Box 30170, College Station, TX 77842-3170
  •   shrrelations@cpushareownerservices.com
  •   Telephone: (888) 810 7456 (Calls from USA)
  •   Telephone: (888) 810 7456 (Direct Global Invest)
  •   Telephone: +1 (201) 680-6825 (International calls)
Important information

Non-IFRS and alternative performance measures
This presentation contains, in addition to the financial information prepared in accordance with International Financial Reporting Standards (“IFRS”) and derived from our financial statements, alternative performance measures (“APMs”) as defined in the Guidelines on Alternative Performance Measures issued by the European Securities and Markets Authority (ESMA) on 5 October 2015 (ESMA/2015/1415en) and other non-IFRS measures (“Non-IFRS Measures”). These financial measures that qualify as APMs and non-IFRS measures have been calculated with information from Santander Group; however those financial measures are not defined or detailed in the applicable financial reporting framework nor have been audited or reviewed by our auditors. We use these APMs and non-IFRS measures when planning, monitoring and evaluating our performance. We consider these APMs and non-IFRS measures to be useful metrics for our management and investors to compare operating performance between accounting periods, as these measures exclude items outside the ordinary course performance of our business, which are grouped in the “management adjustment” line and are further detailed in Section 3.2. of the Economic and Financial Review in our Directors’ Report included in our Annual Report on Form 20-F for the year ended 31 December 2020. Nonetheless, these APMs and non-IFRS measures should be considered supplemental information to, and are not meant to substitute IFRS measures. Furthermore, companies in our industry and others may calculate or use APMs and non-IFRS measures differently, thus making them less useful for comparison purposes. For further details on APMs and Non-IFRS Measures, including its definition or a reconciliation between any applicable management indicators and the financial data presented in the consolidated financial statements prepared under IFRS, please see the 2020 Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on 26 February 2021, as well as the section “Alternative performance measures” of the annex to the Banco Santander, S.A. (“Santander”) Q1 2021 Financial Report, published as Inside Information on 28 April 2021. These documents are available on Santander’s website (www.santander.com). Underlying measures, which are included in this presentation, are non-IFRS measures.

The businesses included in each of our geographic segments and the accounting principles under which their results are presented here may differ from the included businesses and local applicable accounting principles of our public subsidiaries in such geographies. Accordingly, the results of operations and trends shown for our geographic segments may differ materially from those of such subsidiaries.

Forward-looking statements
Banco Santander, S.A. (“Santander”) advises that this presentation contains “forward-looking statements” as per the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words like “expect”, “project”, “anticipate”, “should”, “intend”, “probability”, “risk”, “VaR”, “RoRAC”, “RoRWA”, “TNAV”, “target”, “goal”, “objective”, “estimate”, “future” and similar expressions. Found throughout this presentation, they include (but are not limited to) statements on our future business development, economic performance and shareholder remuneration policy. However, a number of risks, uncertainties and other important factors may cause actual developments and results to differ materially from our expectations. The following important factors, in addition to others discussed elsewhere in this presentation, could affect our future results and could cause materially different outcomes from those anticipated in forward-looking statements: (1) general economic or industry conditions of areas where we have significant operations or investments (such as a worse economic environment; higher volatility in the capital markets; inflation or deflation; changes in demographics, consumer spending, investment or saving habits; and the effects of the COVID-19 pandemic in the global economy); (2) exposure to various market risks (particularly interest rate risk, foreign exchange rate risk, equity price risk and risks associated with the replacement of benchmark indices); (3) potential losses from early repayments on our loan and investment portfolio, declines in value of collateral securing our loan portfolio, and counterparty risk; (4) political stability in Spain, the United Kingdom, other European countries, Latin America and the US; (5) changes in legislation, regulations or taxes, including regulatory capital and liquidity requirements, especially in view of the UK exit from the European Union and increased regulation in response to financial crisis; (6) our ability to integrate successfully our acquisitions and related challenges that result from the inherent diversion of management’s focus and resources from other strategic opportunities and operational matters; and (7) changes in our access to liquidity and funding on acceptable terms, in particular if resulting from credit spreads shifts or downgrade in credit ratings for the entire group or significant subsidiaries.
Numerous factors could affect our future results and could cause those results deviating from those anticipated in the forward-looking statements. Other unknown or unpredictable factors could cause actual results to differ materially from those in the forward-looking statements.
Forward-looking statements speak only as of the date of this presentation and are informed by the knowledge, information and views available on such date. Santander is not required to update or revise any forward-looking statements, regardless of new information, future events or otherwise.

No offer
The information contained in this presentation is subject to, and must be read in conjunction with, all other publicly available information, including, where relevant any fuller disclosure document published by Santander. Any person at any time acquiring securities must do so only on the basis of such person’s own judgment as to the merits or the suitability of the securities for its purpose and only on such information as is contained in such public information having taken all such professional or other advice as it considers necessary or appropriate in the circumstances and not in reliance on the information contained in this presentation. No investment activity should be undertaken on the basis of the information contained in this presentation. In making this presentation available Santander gives no advice and makes no recommendation to buy, sell or otherwise deal in shares in Santander or in any other securities or investments whatsoever.
Neither this presentation nor any of the information contained therein constitutes an offer to sell or the solicitation of an offer to buy any securities. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. Nothing contained in this presentation is intended to constitute an invitation or inducement to engage in investment activity for the purposes of the prohibition on financial promotion in the U.K. Financial Services and Markets Act 2000.

Historical performance is not indicative of future results
Statements about historical performance or accretion must not be construed to indicate that future performance, share price or future earnings (including earnings per share) in any future period will necessarily match or exceed those of any prior period. Nothing in this presentation should be taken as a profit forecast.

Third Party Information
In particular, regarding the data provided by third parties, neither Santander, nor any of its administrators, directors or employees, either explicitly or implicitly, guarantees that these contents are exact, accurate, comprehensive or complete, nor are they obliged to keep them updated, nor to correct them in the case that any deficiency, error or omission were to be detected. Moreover, in reproducing these contents in by any means, Santander may introduce any changes it deems suitable, may omit partially or completely any of the elements of this document, and in case of any deviation between such a version and this one, Santander assumes no liability for any discrepancy.

 

 

 

© Banco Santander, S.A. – Registered Address: Paseo de Pereda 9-12. 39004 Santander – Santander Mercantile Registry, Sheet 286, Fol. 64, Book 5 of Societies, 1st inscription. C.I.F A-39000013. Corporate Headquarters: Ciudad Grupo Santander Av. Cantabria s/n, 28660 Boadilla del Monte, Madrid (Spain).

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