Notice re Holmes Master Trust Libor Linked Notes

Santander UK plc

3 September 2019

Company Announcement

For immediate release

NOTICE OF INTENTION TO EXPLORE TRANSITIONING OF LIBOR LINKED NOTES IN RESPECT OF THE HOLMES MASTER TRUST

Santander UK plc ("Santander UK") announces that it is exploring possible transitioning of certain GBP LIBOR linked notes issued by Holmes Master Issuer PLC (the "Issuer") to the Bank of England administered benchmark interest rate SONIA.

NatWest Markets Plc ("NatWest Markets") and Santander Corporate & Investment Bank ("Santander CIB") are assisting with this exercise and along with Santander UK are available to answer questions.

For further information, please contact:

Medium Term Funding

Santander UK plc

2 Triton Square

Regent's Place

London NW1 3AN

Tel: +44 (0) 20 7756 7107

Email: mtf@santander.co.uk

NatWest Markets Plc

Liability Management

250 Bishopsgate

London EC2M 4AA

United Kingdom

Tel: +44 (0) 20 7678 5282

Email: liabilitymanagement@natwestmarkets.com

Banco Santander S.A.

Santander CIB - Liability Management

Tel: +44 20 7756 6909 / +44 20 7756 6646

Email: tommaso.grospietro@santanderCIB.co.uk / king.cheung@santanderCIB.co.uk

DISCLAIMER

Nothing in this announcement constitutes or should be construed as constituting an offer of securities issued by the Issuer ("Securities"), an offer to purchase any Securities or an offer to modify the terms and conditions of any Securities.