Total redemption and cancellation of bonds

Banco Santander, S.A., in compliance with the Securities Market legislation, hereby communicates the following:

OTHER RELEVANT INFORMATION

Banco Santander, S.A. (the "Issuer") hereby announces that, in relation to the " Issuance of Banco Popular Español, S.A Mortgaged Bonds 2016-2" ("Emisión de Cédulas Hipotecarias Banco Popular Español, S.A. 2016-2"), with ISIN code ES0413790454, a total amount outstanding of five hundred million euros (EUR 500,000,000), the Final Conditions of which were registered with the registries of the Spanish National Securities Market Commission on 8 November 2016 (the "Issue"), it intends to carry out on 30 December 2020 the total redemption and cancellation of the Issue.

All the mortgage bonds to be early redeemed and cancelled are held by the Issuer.

This is hereby reported as other relevant information for the appropriate purposes.

Boadilla del Monte (Madrid), 22 December 2020