Company: BCDRF
Filing Date: 2025-07-01
Form Type: 6-K
Source: 0000950103-25-008246
Chunk: 6

Company: Banco Santander, S.A.
Filing Date: 2025-07-01
Form: 6-K
Chunk 6
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 focus on decommissioning TSB Platform, generating efficiencies from IT contracts, external resources and operational contracts Phasing in of synergies 2028 • IT costs • Systems d e c o mm i ss i o n i n g • Properties and others • Full run - rate synergies • Contract re - negotiation • Branch optimization • HQ efficiencies Restructuring costs 1.3x Synergies Action plan drives efficiencies Combi n e d 2024 cost base H e a dq u a rter & support funct. I n v es tm ent costs IT Cost base post synergies 2028 Property and others 822 75 100 100 125 2 , 46 9 > 200 <2,700 3,291 Combined costs down 17 - 20% including SAN UK Transformation (£ Mn) SAN UK TSB SAN UK One Tr a nsf o r mati on

11 11% 16% 14% + 3 pp +2pp Enhancing the returns from our UK franchise to 16% in 2028 2024 Santander UK Standalone 2028 Combined Post Synergies 2028 Santander UK Standalone TSB post synergies RoTE improvement path One Transformation benefits compounded by additional scale, despite only considering benefits from cost synergies for TSB integration Santander UK + S t anda l one = improvement + = ▪ Faster deployment of tech platforms ▪ Group - wide integration and migration track record Enabled by improved operational opportunity for Santander UK ▪ Synergy opportunity

12 We have a proven track record in execution with a strong team ▪ Led the successful integrations of Abbey National, Alliance & Leicester, Bradford & Bingley and Popular. Former COO of Santander UK. Juan Olaizola CEO of Payments Hub. Former COO Santander UK 2005 – 2017 ▪ Strong experience in successful integrations, UK board member, and former Head of Europe at Santander Group. Pedro Castro e Almeida CEO of Santander Portugal and Non - Executive Director of Santander UK ▪ CEO of Santander UK since 2022 and former CEO and Board Member at Yorkshire Building Society. ▪ Previous head of Technology & Operations for Santander in Europe and Spain. Mike Regnier CEO of Santander UK plc ▪ Confidence in TSB integration is underpinned by consistent operational track record and implementation of One Transformation. ▪ Santander is one of the few global banks which builds and operates