Mr Grisi will succeed José Antonio Álvarez who has been with the bank since 2002 and was appointed Chief Financial
Officer in 2004 then CEO in January 2015. Following the transition, Mr Álvarez will remain on the Board as nonexecutive vice chair.

Lead Independent Director and chair of the Board Nomination Committee, Bruce Carnegie Brown, said, “The
Nominations Committee has worked intensively to identify and assess a broad range of internal and external
candidates for the CEO role, with the support of external advisors. Héctor Grisi is a seasoned expert who knows our
business and is the right person to lead the bank with Ana. He brings a relentless focus on the customer, proven
leadership in driving transformation and greater connectivity across the group, and a strong track record of delivering
growth and profitability.

On behalf of the Nominations Committee, I would like to extend my sincere thanks to José Antonio for his outstanding
contribution to the group. During his tenure, the bank has increased the number of customers it serves by nearly 40
million, while driving significant improvements across key performance metrics and transforming its capital strength.
We look forward to continuing to benefit from his experience and expertise on the board.”

Banco Santander executive chair, Ana Botín, said, “I am extremely grateful to José Antonio for the exceptional
contribution he has made to the bank over the past 20 years. His leadership and dedication have been central to
Santander’s growth and success. I value his insight and support hugely and am delighted that he will remain on the
Board as non-executive vice-chair and will continue to support the bank as we build on the progress of recent years.

Héctor will be an outstanding successor to José Antonio. He brings decades of experience and a deep understanding
of our markets and business, and a proven ability to lead in a collaborative way and create value for both customers
and shareholders. His track record as CEO of Santander Mexico and head of North America speaks for itself and
illustrates why we believe he is the right person to lead the bank in the next phase of our transformation and growth.

Since Mr Álvarez was appointed CEO, the bank has increased its Return on Tangible Equity (RoTE) from 11% in 2014
to over 14% in the first quarter of 2022, while growing its CET1 FL capital from 8% to over 12%. Revenues increased
by over 35% in constant euros over the same period, as the bank added nearly 40 million customers, taking the total
number of people and businesses it serves to 155 million on 31 March 2022.

Furthermore, thanks to ongoing digital and commercial transformation, the bank has achieved a top-3 ranking for
customer satisfaction (Net Promoter Score) in nearly all the bank’s core markets, while maintaining one of the best
efficiency ratios of any international bank at 45%. This performance has enabled the distribution of €15 billion in
cash dividends over the period.

Mr Grisi joined Santander in 2015 as CEO of Santander Mexico. Since then, he has completed a transformation of the
bank’s business in the country, achieving an adjusted return on tangible equity of 31% as at 31 March 2022, growing
the number of active customers by nearly 50% to close to 10 million and doubling the number of loyal customers,
while establishing leading market position in SMEs, Mid-Market Corps, Mortgages and Project Finance.

In 2019, he was appointed head of the Santander group’s North America region, covering both Mexico and the US. In
2021, the US achieved a record year for profitability, generating $2.7 billion compared to $648 million in 2018,
making the largest contribution to profit of any market in the group. Furthermore, the connectivity within the region
has improved significantly, leveraging cross boarder opportunities for revenue generation, while encouraging
greater efficiency across the markets, reflecting the bank’s goal to build ‘One Santander’. As a result, the region’s
profit has nearly doubled since 2019.

Mr Grisi’s professional career spans over 35 years. Before joining Santander, he spent 18 years at Credit Suisse,
where he held a range of senior positions, including head of Investment Banking for Mexico, Central America, and
the Caribbean, then President & CEO of Credit Suisse Mexico. He was educated in Mexico and Canada and is a
graduate of Iberoamericana University as BA in Finance.

José Antonio Álvarez said, “It has been an honour to be part of the Santander team for the past two decades. Santander
is a truly exceptional organisation, and I will always be grateful to the many colleagues and friends I have worked
with. I feel extremely proud of what we have achieved together and am confident that under the leadership of Ana
and Héctor the organisation will continue to go from strength to strength. I look forward to supporting Héctor in the
transition and helping the group evolve and build on its success as non-executive vice chair of the board.”

Héctor Grisi said, “I would firstly like to thank José Antonio for what he has done for the bank throughout his career,
and the support he has provided me since the first day I joined. I am honoured to succeed him as CEO of Banco
Santander and be offered the opportunity to build on what he, Ana, and the team have achieved. I firmly believe that
Santander’s scale, diversification, and customer focus create opportunities for growth that are difficult for others to
replicate. I am excited to get to work and have no doubt that we have the strategy, model and above all, the team, to
create value for all our stakeholders and fulfil our potential.”

A process to identify a successor for Mr Grisi as CEO of Santander Mexico has begun, and further information will
follow in due course.