QUARTERLY SHAREHOLDER REPORT

January - March 2018

"2018 has started well, with the Group generating double digit profit growth driven by strong results in Brazil, Spain and Mexico, and improved performance in the U.S. Across all our markets we are executing our strategy successfully, accelerating our digital transformation through increased collaboration across the Group, and leveraging the scale of our business. The outlook for 2018 remains positive, and I am confident our teams will execute well so we reach our objectives this year, as well as delivering profitable and responsible growth going forward".

ANA BOTÍN, GROUP EXECUTIVE CHAIRMAN OF BANCO SANTANDER

Ana Botín