Banco Santander Regulatory News (BNC)

Banco Santander, S.A. (the "Bank" or "Santander"), in accordance with the provisions of the Spanish capital markets regulations, announces:

OTHER RELEVANT INFORMATION

On 2 April 2020, following the recommendation made by the European Central Bank on 27 March 2020 to all European banks under its supervision to preserve capital by cancelling the payment of dividends against 2019 and 2020 results, Santander announced its decision to withdraw the proposal under Item Two (Application of results obtained during financial year 2019) from the agenda of the ordinary general shareholders' meeting of the Bank to be held on 3 April 2020 on second call.

Today, as announced as inside information in a disclosure sent to the Spanish National Securities Commission (CNMV), the board of directors of Santander has resolved to call the ordinary general shareholders' meeting of the Bank on 26 and 27 October, on first and second call, respectively, and submitted a new proposal for the application of results obtained during financial year 2019 to that general meeting.

Today's disclosure also includes the rest of the items on the general shareholders' meeting agenda.

In accordance with Royal Decree-Law 8/2020 of 17 March, regarding urgent extraordinary measures to address the economic and social impact of COVID-19 (Art. 41.3) (Real Decreto- ley 8/2020, de 17 de marzo, de medidas urgentes extraordinarias para hacer frente al impacto económico y social del COVID-19 (Art. 41.3)), the Bank hereby attaches:

- The proposal stated by the board of directors for item one on the agenda of the aforementioned meeting (Application of results obtained during financial year 2019), as well as the justification for it.http://www.rns-pdf.londonstockexchange.com/rns/6420Z_1-2020-9-21.pdf

- The communication from the Bank´s auditor in which it is confirmed that the auditor would have not changed its audit opinion if it had known the new application of results proposal when its audit reports on the individual and consolidated 2019 Financial Reports were signed.http://www.rns-pdf.londonstockexchange.com/rns/6420Z_2-2020-9-21.pdf

Boadilla del Monte (Madrid), 21 September 2020