QUARTERLY SHAREHOLDER REPORT

OCTOBER - DECEMBER 2020

“Our 2020 results demonstrate the resilience and effectiveness of Santander’s business and strategy. Although the crisis is global, our geographic and business diversification have once again served us well and underscored the strength of our team and model. We delivered solid performance in the Americas and strong growth in our global businesses, providing balance against the more challenging environment in Europe.

Importantly, these results were delivered in the right way. We have achieved top 3 customer satisfaction in the majority of our markets.

Coupled with an even stronger and more diverse leadership driving our ongoing transformation to ‘One Santander’ and expansion of PagoNxt and the Digital Consumer Bank, we are confident we can deliver on our medium-term goals, including an underlying RoTE of 13-15% and a dividend payout of 40-50% in cash, subject to regulatory guidance to the sector. ”

ANA BOTÍN, GROUP EXECUTIVE CHAIRMAN OF BANCO SANTANDER

firma Ana Botín