appendix - santanderannualreport.com · subsidiaries of banco santander, s.a. 1 % of ownership ....

Auditors’ report

Consolidated annual accounts

Notes to the consolidated annual accounts Appendix

Appendix

659

660 2018 Auditors’ report and consolidated annual accounts

Appendix I

Subsidiaries of Banco Santander, S.A.1

% of ownership held by the Bank % of voting powerk Million eurosa

Capital + Carrying Company Location Direct Indirect Year 2018 Year 2017 Activity reserves Net results amount

2 & 3 Triton Limited United Kingdom

0.00% 100.00% 100.00% 100.00% Real estate 53 7 11

A & L CF (Guernsey) Limited n Guernsey 0.00% 100.00% 100.00% 100.00% Leasing 0 0 0 A & L CF December (1) Limited j

United Kingdom

0.00% 100.00% 100.00% 100.00% Leasing 0 0 0

A & L CF June (2) Limited e United Kingdom

0.00% 100.00% 100.00% 100.00% Leasing 0 0 0

A & L CF June (3) Limited e United Kingdom

0.00% 100.00% 100.00% 100.00% Leasing 9 (1) 0

A & L CF March (5) Limited d United Kingdom

0.00% 100.00% 100.00% 100.00% Leasing 2 0 0

A & L CF September (4) Limited f

United Kingdom

0.00% 100.00% 100.00% 100.00% Leasing 19 0 0

Abbey Business Services (India) Private Limited d

India 0.00% 100.00% 100.00% 100.00% Holding company

0 0 0

Abbey Covered Bonds (Holdings) Limited

United Kingdom

- b - - Securitisation 0 0 0

Abbey Covered Bonds (LM) Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Securitisation 0 0 0

Abbey Covered Bonds LLP United Kingdom

- b - - Securitisation (291) 35 0

Abbey National Beta Investments Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Finance company

0 0 0

Abbey National BusinessOfce Equipment Leasing Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Leasing 0 0 0

Abbey NationalInternational Limited

Jersey 0.00% 100.00% 100.00% 100.00% Banking 5 0 6

Abbey NationalNominees Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Securities company

0 0 0

Abbey National PLP (UK) Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Finance company

0 0 0

Abbey National PropertyInvestments

United Kingdom

0.00% 100.00% 100.00% 100.00% Finance company

522 5 155

Abbey National Treasury Services Investments Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Finance company

0 0 0

Abbey National Treasury Services Overseas Holdings

United Kingdom

0.00% 100.00% 100.00% 100.00% Holding company

0 12 0

Abbey National Treasury Services plc

United Kingdom

0.00% 100.00% 100.00% 100.00% Banking 366 21 376

Abbey National UK Investments

United Kingdom

0.00% 100.00% 100.00% 100.00% Finance company

0 0 0

Abbey Stockbrokers(Nominees) Limited

United Kingdom


0 0 0

Abbey Stockbrokers Limited United Kingdom


0 0 0

Ablasa Participaciones, S.L. Spain 18.94% 81.06% 100.00% 100.00% Holding company

299 (115) 454

Administración de Bancos Latinoamericanos Santander, S.L.

Spain 24.11% 75.89% 100.00% 100.00% Holding company

2,542 (9) 1,863

Aevis Europa, S.L. Spain 96.34% 0.00% 96.34% 96.34% Cards 1 0 1 AFB SAM Holdings, S.L. Spain 1.00% 99.00% 100.00% 100.00% Holding

company 116 0 113




Afsa S.A. Chile 0.00%

- Securitisation 0 0 0 - Securitisation 25 0 0

Atlantes Mortgage No.1 plc Ireland -

- Securitisation 0 0 0 Atlantes Mortgage No.1 FTC Portugal -

- Securitisation 0 0 0 Atlantes Mortgage No. 7 Portugal -





- Securitisation 0 0 0 Atlantes Azor No. 2 Portugal -

services Atlantes Azor No. 1 Portugal -

- Financial 0 (2) 0 Kingdom

company Athena Corporation Limited United 0.00%

100.00% Finance 40 (13) 27 Kingdom

Asto Digital Limited United 0.00%

100.00% Finance 0 0 0 company

Argenline S.A. j o Uruguay 0.00%

100.00% Inactive 3 0 0 Portuguesa, Lda. r

100.00% Services 0 1 0 Arcaz - Sociedade Imobiliária Portugal 0.00% Aquanima S.A. Argentina 0.00%

100.00% E-commerce 2 0 2 de R.L. de C.V.

100.00% Services 2 1 0 Aquanima México S. Mexico 0.00%

100.00% E-commerce 3 0 0 Aquanima Chile S.A. Chile 0.00%

company Aquanima Brasil Ltda. Brazil 0.00%

100.00% Holding 0 0 0 Kingdom

ANITCO Limited United 0.00%

100.00% Holding 92 0 27 company

company Andaluza de Inversiones, S.A. Spain 0.00%


company AN (123) Limited United 0.00%


100.00% 100.00%

100.00% 100.00% 0.00% 0.00%

0.00% 100.00% 100.00% 100.00%

100.00% 100.00%

100.00% 100.00%

100.00% 100.00%

100.00% 100.00%

100.00% 100.00%

100.00% 100.00%

100.00% 100.00%

0.00% 100.00%

0.00% 100.00%

100.00% 100.00%

100.00% 100.00%

100.00% 100.00%

100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

100.00% 100.00% 99.90% 100.00%

100.00% 100.00%

100.00% 100.00%

100.00% 100.00%

b -b -b -b -b -b -b -b -b -

Auditors’ report



100.00% Fund 4 0 5 management company

ALIL Services Limited Isle of Man 0.00% 100.00% Services 3 0 3 Aliseda Participaciones Spain 0.00% 100.00% Real estate - - -Inmobiliarias, S.L. i

Aliseda Real Estate, S.A. Spain 100.00% 100.00% Real estate 48 (20) 32 Aljardi SGPS, Lda. Portugal 0.00% 100.00% Holding 1,209 (6) 1,148

company Alliance & Leicester Cash United 0.00% 100.00% Finance 0 0 0 Solutions Limited Kingdom company Alliance & Leicester United 0.00% 100.00% Finance 0 0 0 Commercial Bank Limited Kingdom company Alliance & Leicester United 0.00% 100.00% Finance 0 0 0 Investments Kingdom company (Derivatives) Limited Alliance & Leicester United 0.00% 100.00% Finance 0 0 0 Investments (No.2) Limited Kingdom company Alliance & Leicester United 0.00% 100.00% Finance 0 0 0 Investments Limited Kingdom company Alliance & Leicester Limited United 0.00% 100.00% Finance 0 0 0

Kingdom company Alliance & Leicester United 0.00% 100.00% Finance (227) 0 0 Personal Finance Limited Kingdom company Altamira Santander Spain 100.00% 100.00% Real estate 36 (97) 0 Real Estate, S.A. Amazonia Trade Limited United 100.00%

661





Atual Serviços de Recuperação de Créditose Meios Digitais S.A.

Brazil 0.00% 89.85% 100.00% 100.00% Financial services

61 4 54

Auto ABS DFP Master Compartment France 2013

France - b - - Securitisation 0 0 0

Auto ABS French Lease Master Compartiment 2016


Auto ABS French Leases 2018 France - b - - Securitisation 0 0 0 Auto ABS French Loans Master


Auto ABS French LT Leases Master


Auto ABS Italian Loans 2018-1 S.R.L.

Italy - b - - Securitisation 0 0 0

Auto ABS Spanish Loans 2016, Fondo de Titulización

Spain - b - - Securitisation 0 0 0

Auto ABS Spanish Loans 2018-1, Fondo de Titulización


Auto ABS Swiss Leases 2013 Gmbh

Switzerland - b - - Securitisation 0 0 0

Auto ABS UK Loans 2017 Holdings Limited

United Kingdom


Auto ABS UK Loans 2017 Plc United Kingdom


Auto ABS UK Loans Holdings Limited

United Kingdom


Auto ABS UK Loans PLC United Kingdom

- b - - Securitisation 1 (6) 0

Auttar HUT Processamento de Dados Ltda.

Brazil 0.00% 79.52% 100.00% 100.00% Technologyservices

3 0 3

Aviación Antares, A.I.E. Spain 99.99% 0.01% 100.00% 100.00% Renting 44 4 28 Aviación Británica, A.I.E. Spain 99.99% 0.01% 100.00% 100.00% Renting 10 5 6 Aviación Centaurus, A.I.E. Spain 99.99% 0.01% 100.00% 100.00% Renting 36 2 25 Aviación Comillas, S.L. Unipersonal

Spain 100.00% 0.00% 100.00% 100.00% Renting 8 0 8

Aviación Intercontinental, A.I.E.

Spain 99.97% 0.03% 100.00% 100.00% Renting 82 0 63

Aviación Laredo, S.L. Spain 99.00% 1.00% 100.00% 100.00% Air transport 4 (1) 4 Aviación Oyambre, S.L. Unipersonal

Spain 100.00% 0.00% 100.00% 100.00% Renting 0 0 1

Aviación RC II, A.I.E. Spain 99.99% 0.01% 100.00% 100.00% Renting 13 3 9 Aviación Real, A.I.E. Spain 99.99% 0.01% 100.00% 100.00% Renting 10 1 11 Aviación Santillana S.L. Spain 99.00% 1.00% 100.00% - Renting 2 0 2 Aviación Scorpius, A.I.E. Spain 99.99% 0.01% 100.00% 100.00% Renting 43 0 26 Aviación Suances, S.L. Spain 99.00% 1.00% 100.00% 100.00% Air transport 2 2 3 Aviación Tritón, A.I.E. Spain 99.99% 0.01% 100.00% 100.00% Renting 26 3 19 Aymoré Crédito, Financiamento e Investimento S.A.

Brazil 0.00% 89.85% 100.00% 100.00% Finance company

312 204 443

Banca PSA Italia S.p.A. Italy 0.00% 50.00% 50.00% 50.00% Banking 297 37 123 Banco Bandepe S.A. Brazil 0.00% 89.85% 100.00% 100.00% Banking 942 45 848 Banco de Albacete, S.A. Spain 100.00% 0.00% 100.00% 100.00% Banking 14 0 9 Banco de Asunción, S.A. en liquidación voluntaria j

Paraguay 0.00% 99.33% 99.33% 99.33% Banking 0 0 0

Banco Madesant - Sociedade Unipessoal, S.A.

Portugal 0.00% 100.00% 100.00% 100.00% Banking 1,088 (4) 1,085

Auditors’ report






Banco Olé Bonsucesso Consignado S.A.

Brazil 0.00% 53.91% 60.00% 60.00% Banking 183 78 153

Banco PSA Finance Brasil S.A. Brazil 0.00% 44.93% 50.00% 50.00% Finance company

66 8 31

Banco S3 México, S.A., Institución de Banca Múltiple

Mexico 0.00% 100.00% 100.00% 100.00% Credit institution

49 7 72

Banco Santander - Chile Chile 0.00% 67.12% 67.18% 67.18% Banking 3,555 745 3,220 Banco Santander (Brasil) S.A. Brazil 13.94% 75.92% 90.44% 90.24% Banking 12,858 2,738 10,112 Banco Santander (México), S.A., Institución de Banca Múltiple, Grupo Financiero Santander México como Fiduciaria del Fideicomiso 100740

Mexico 0.00% 75.13% 100.00% 100.00% Finance company

38 14 39

Banco Santander (México), S.A., Institución de Banca Múltiple, Grupo Financiero Santander México como Fiduciaria del Fideicomiso 2002114

Mexico 0.00% 76.48% 100.00% 100.00% Holding company

13 1 8

Banco Santander (México), S.A., Institución de Banca Múltiple, Grupo Financiero Santander México como Fiduciaria del Fideicomiso GFSSLPT


5 1 5

Banco Santander (Panamá), S.A. j

Panama 0.00% 100.00% 100.00% 100.00% Banking 37 0 31

Banco Santander (Suisse) SA Switzerland 0.00% 100.00% 100.00% 100.00% Banking 1,093 36 820 Banco Santander Consumer Portugal, S.A.

Portugal 0.00% 100.00% 100.00% 100.00% Banking 166 24 128

Banco Santander de Negocios Colombia S.A.

Colombia 0.00% 100.00% 100.00% 100.00% Finance company

95 2 101

Banco Santander International

United States

0.00% 100.00% 100.00% 100.00% Banking 874 98 972

Banco Santander México, S.A., Institución de Banca Múltiple, Grupo FinancieroSantander México

Mexico 0.00% 75.13% 75.17% 99.99% Banking 4,727 853 4,193

Banco Santander Perú S.A. Peru 99.00% 1.00% 100.00% 100.00% Banking 160 22 121 Banco Santander Puerto Rico Puerto Rico 0.00% 100.00% 100.00% 100.00% Banking 787 50 836 Banco Santander Río S.A. Argentina 0.00% 99.30% 99.25% 99.20% Banking 761 247 411 Banco Santander Totta, S.A. Portugal 0.00% 99.86% 99.96% 99.96% Banking 2,922 467 3,415 Banco Santander, S.A. Uruguay 97.75% 2.25% 100.00% 100.00% Banking 346 72 191 Banif International Bank, Ltd j Bahamas 0.00% 99.86% 100.00% 100.00% Banking 0 0 0 Bansa Santander S.A. Chile 0.00% 100.00% 100.00% 100.00% Real estate 22 3 25 BCLF 2013-1 B.V. The

Netherlands - b - - Securitisation 0 0 0

BEN Benefícios e Serviços S.A. Brazil 0.00% 89.85% 100.00% - Payment services

10 0 9

Besaya ECA Designated Activity Company i

Ireland 0.00% 0.00% 0.00% - Finance company

- - -

Bilkreditt 3 DesignatedActivity Company j

Ireland - b - - Securitisation 0 0 0

Bilkreditt 4 DesignatedActivity Company j


Bilkreditt 5 DesignatedActivity Companyj


Bilkreditt 6 DesignatedActivity Company


663





Bilkreditt 7 DesignatedActivity Company


BPE Financiaciones, S.A. Spain 90.00% 10.00% 100.00% 100.00% Finance company

1 0 1

BPE Representaçoes yParticipaçoes, Ltda. j


0 0 0

BPP Asesores S.A. j Argentina 100.00% 0.00% 100.00% 100.00% Finance company

0 0 0

BPV Promotora de Vendas e Cobrança Ltda.


2 1 1

BRS Investments S.A. Argentina 0.00% 100.00% 100.00% 100.00% Finance company

23 16 73

Caja de Emisiones con Garantía de Anualidades Debidas por el Estado, S.A.

Spain 62.87% 0.00% 62.87% 62.87% Finance company

0 0 0

Cántabra de Inversiones, S.A. Spain 100.00% 0.00% 100.00% 100.00% Holding company

30 (15) 38

Cántabro Catalana de Inversiones, S.A.


306 3 267

Capital Street Delaware LP United States

0.00% 100.00% 100.00% 100.00% Holding company

0 0 0

Capital Street Holdings, LLC United States

0.00% 100.00% 100.00% 100.00% Holding company

14 0 14

Capital Street REIT Holdings, LLC

United States

0.00% 100.00% 100.00% 100.00% Holding company

1,151 21 1.172

Capital Street S.A. Luxembourg 0.00% 100.00% 100.00% 100.00% Finance company

0 0 0

Carfax (Guernsey) Limited n Guernsey 0.00% 100.00% 100.00% 100.00% Insurance brokerage

0 0 0

Carfnco Financial Group Inc. Canada 96.42% 0.00% 96.42% 96.42% Holding company

57 0 75

Carfnco Inc. Canada 0.00% 96.42% 100.00% 100.00% Finance company

42 6 42

Casa de Bolsa Santander, S.A. de C.V., Grupo Financiero Santander México

Mexico 0.00% 99.97% 99.97% 99.97% Securities company

50 3 53

Cater Allen Holdings Limited United Kingdom

0.00% 100.00% 100.00% 100.00% Holding company

0 0 0

Cater Allen International Limited

United Kingdom


0 0 0

Cater Allen Limited United Kingdom

0.00% 100.00% 100.00% 100.00% Banking 485 67 249

Cater Allen Lloyd's Holdings Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Holding company

0 0 0

Cater Allen SyndicateManagement Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Advisory services

0 0 0

CCAP Auto Lease Ltd. United States

0.00% 69.71% 100.00% 100.00% Leasing 14 (12) 1

Centro de Capacitación Santander, A.C.

Mexico 0.00% 75.13% 100.00% 100.00% Non proft institute

1 0 1

Certidesa, S.L. Spain 0.00% 100.00% 100.00% 100.00% Aircraft rental (54) (7) 0 Chrysler Capital Auto Funding I LLC

United States

0.00% 69.71% 100.00% 100.00% Finance company

(21) 35 0

Chrysler Capital Auto Funding II LLC

United States

0.00% 69.71% 100.00% 100.00% Finance company

(18) 24 0

Chrysler Capital Auto Receivables LLC

United States

0.00% 69.71% 100.00% 100.00% Finance company

0 0 0

Chrysler Capital Auto Receivables Trust 2016-A

United States





Chrysler Capital Master Auto United 0.00%

- Securitisation 0 (96) 0 Trust 2018-3 States Drive Auto Receivables United -



- Securitisation (66) 48 0 Trust 2017-B States Drive Auto Receivables United -

- Securitisation (68) 42 0 Trust 2017-A States Drive Auto Receivables United -

- Securitisation (130) 97 0 Trust 2017-3 States Drive Auto Receivables United -



- Securitisation (63) 48 0 Trust 2016-C States Drive Auto Receivables United -

- Securitisation (57) 34 0 Trust 2016-B States Drive Auto Receivables United -


- Securitisation (20) 15 0 Trust 2015-D States Drive Auto Receivables United -

- Securitisation (15) 9 0 Trust 2015-C States Drive Auto Receivables United -

- Securitisation 14 15 0 Trust 2015-B States Drive Auto Receivables United -


69.71% 100.00%

69.71% 100.00%

50.00% 100.00%

50.00% 100.00%

100.00% 100.00%

100.00% 100.00%

13.72% 100.00%

69.71% 100.00%

0.00% 100.00% 0.00% 100.00%

100.00% 100.00%

0.00% 75.00% 100.00% 100.00% 100.00% 100.00%

b -

b -

b -

b -

b -

b -

b -

b -

b -

b -

b -

b -

b -

b -

b -

Auditors’ report



100.00% Finance 106 (171) 0 Receivables Funding 2 LLC States company Chrysler Capital Master Auto United 0.00% 100.00% Finance 90 (3) 0 Receivables Funding LLC States company Compagnie Generale de France 0.00% 100.00% Banking 363 141 428 Credit Aux Particuliers - Credipar S.A. Compagnie Pour la Location France 0.00% 100.00% Finance 20 11 26 de Vehicules - CLV company Comunidad Laboral Argentina 0.00% - Services 0 0 0 Trabajando Argentina S.A. Comunidad Laboral Spain 0.00% - Services 0 0 0 Trabajando Iberica,S.L. Unipersonal Consulteam Consultores Portugal 86.28% 100.00% Real estate 132 (132) 2 de Gestão, Lda. Consumer Lending United 0.00% 100.00% Securitisation 0 0 0 Receivables LLC States Crawfall S.A. g j Uruguay 100.00% 100.00% Services 0 0 0 Darep Designated Ireland 100.00% 100.00% Reinsurances 9 0 7 Activity Company Digital Procurement The 0.00% 100.00% Holding 5 0 1 Holdings N.V. Netherlands company Diners Club Spain, S.A. Spain 75.00% 75.00% Cards 10 2 9 Dirección Estratega, S.C. Mexico 0.00% 100.00% Services 0 0 0 Dirgenfn, S.L., en liquidación j Spain 0.00% 100.00% Real estate (10) 0 0

development

665





Drive Auto Receivables Trust 2018-4

United States



United States



United States

- b - - Inactive 0 0 0

EDT FTPYME Pastor 3 Fondo de Titulización de Activos


Electrolyser, S.A. de C.V. Mexico 0.00% 75.13% 100.00% 100.00% Services 0 0 0 Entidad de Desarrollo a la Pequeña y Micro Empresa Santander Consumo Perú S.A.

Peru 55.00% 0.00% 55.00% 55.00% Finance company

20 3 13

Erestone S.A.S. France 0.00% 90.00% 90.00% 90.00% Real estate 1 0 1 Esfera Fidelidade S.A. Brazil 0.00% 89.85% 100.00% - Services 2 0 2 Evidence Previdência S.A. Brazil 0.00% 89.85% 100.00% 100.00% Holding

company 64 (17) 42

Finance Professional Services, S.A.S.

France 0.00% 100.00% 100.00% 100.00% Services 2 1 2

Financeira El Corte Inglés, Portugal, S.F.C., S.A.

Portugal 0.00% 51.00% 100.00% 100.00% Finance company

9 2 4

Financiera El Corte Inglés, E.F.C., S.A.


214 66 140

Finsantusa, S.L. Unipersonal Spain 0.00% 100.00% 100.00% 100.00% Holding company

3,785 (9) 1,020

First National Motor Business Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Leasing 0 0 0

First National Motor Contracts Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Leasing 0 0 0

First National Motor Facilities Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Leasing 0 0 0

First National Motor Finance Limited

United Kingdom


0 0 0

First National Motor Leasing Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Leasing 0 0 0

First National Motor plc United Kingdom

0.00% 100.00% 100.00% 100.00% Leasing 0 0 0

First National TricityFinance Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Finance company

5 0 4

Fondo de Inversión Privado Renta Terrenos I j

Chile 0.00% 100.00% 100.00% - Investment fund

27 1 0

Fondo de Titulización de Activos PYMES Santander 9


Fondo de Titulización de Activos RMBS Santander 1






Fondo de Titulización de Activos Santander 2


Fondo de Titulización de Activos Santander Consumer Spain Auto 2014-1


Fondo de Titulización de Activos Santander Empresas 1




Auditors’ report








Fondo de Titulización de Activos Santander Hipotecario 7






Fondo de Titulización PYMES Santander 13


Fondo de Titulización PYMES Santander 14


Fondo de Titulización RMBS Santander 4


Fondo de Titulización RMBS Santander 5


Fondo de Titulización Santander Consumer Spain Auto 2016-1


Fondo de Titulización Santander Consumer Spain Auto 2016-2


Fondo de Titulización Santander Consumo 2


Fondo de Titulización Santander Financiación 1


Fondos Santander, S.A. Administradora de Fondos de Inversión (en liquidación) j

Uruguay 0.00% 100.00% 100.00% 100.00% Fund management company

0 0 0

Fortensky Trading, Ltd. Ireland 0.00% 100.00% 100.00% 100.00% Finance company

0 0 0

Fosse (Master Issuer)Holdings Limited

United Kingdom


Fosse Funding (No.1) Limited United Kingdom

0.00% 100.00% 100.00% 100.00% Securitisation (5) (1) 0

Fosse Master Issuer PLC United Kingdom

0.00% 100.00% 100.00% 100.00% Securitisation (2) 4 0

Fosse PECOH Limited United Kingdom


Fosse Trustee (UK) Limited United Kingdom

0.00% 100.00% 100.00% 100.00% Securitisation 0 0 0

FTPYME Banesto 2, Fondo de Titulización de Activos


FTPYME Santander 2 Fondo de Titulización de Activos


Fundo de Investimentos em Direitos Creditórios Multisegmentos NPL IpanemaV – Não padronizado s

Brazil - b - - Investment fund

0 0 0

Fundo de Investimentos em Direitos Creditórios Multisegmentos NPL IpanemaVI – Não padronizado s

Brazil - b - - Investment fund

18 3 0

Gamma, Sociedade Financeira de Titularização de Créditos, S.A.

Portugal 0.00% 99.86% 100.00% 100.00% Securitisation 7 0 8

GC FTPYME Pastor 4 Fondo de Titulización de Activos


667





Gesban México Servicios Administrativos Globales, S.A. de C.V.

Mexico 0.00% 100.00% 100.00% 100.00% Services 1 0 0

Gesban Santander Servicios Profesionales Contables Limitada

Chile 0.00% 100.00% 100.00% 100.00% Internet 0 0 0

Gesban Servicios Administrativos Globales, S.L.

Spain 99.99% 0.01% 100.00% 100.00% Services 4 0 1

Gesban UK Limited United Kingdom

0.00% 100.00% 100.00% 100.00% Payments and collections services

1 0 0

Gestión de Instalaciones Fotovoltaicas, S.L. Unipersonal

Spain 0.00% 100.00% 100.00% 100.00% Electricityproduction

1 0 0

Gestora de Procesos S.A. en liquidación j

Peru 0.00% 100.00% 100.00% 100.00% Holding company

0 0 0

Gestora Patrimonial Calle Francisco Sancha 12, S.L.

Spain 96.34% 0.00% 96.34% 96.34% Securities and real estate management

5 12 16

Gestora Popular, S.A. Spain 35.00% 65.00% 100.00% 100.00% Real estate 3 1 5 Getnet Adquirência e Serviços para Meiosde Pagamento S.A.

Brazil 0.00% 79.52% 88.50% 88.50% Payment services

379 109 388

Global Galantis, S.A. Spain 0.00% 100.00% 100.00% - Inactive 0 0 0 Golden Bar (Securitisation) S.r.l.


Golden Bar Stand Alone 2014-1








Green Energy HoldingCompany, S.L.


1 0 0

Grupo EmpresarialSantander, S.L.


2,669 269 2,817

Grupo Financiero SantanderMéxico, S.A. de C.V.

Mexico 100.00% 0.00% 100.00% - Holding company

3,902 335 4,001

GTS El Centro Equity Holdings, LLC c

United States

0.00% 56.88% 56.88% 81.90% Holding company

32 (1) 29

GTS El Centro Project Holdings, LLC c

United States

0.00% 56.88% 100.00% 100.00% Holding company

32 (1) 17

Guaranty Car, S.A. Unipersonal

Spain 0.00% 100.00% 100.00% 100.00% Automotive 2 0 2

Hipototta No. 4 FTC Portugal - b - - Securitisation (48) 2 0 Hipototta No. 4 plc Ireland - b - - Securitisation 1 (5) 0 Hipototta No. 5 FTC Portugal - b - - Securitisation (39) (2) 0 Hipototta No. 5 plc Ireland - b - - Securitisation (4) (3) 0 Hipototta No.13 Portugal - b - - Securitisation 0 0 0 Hispamer Renting, S.A. Unipersonal

Spain 0.00% 100.00% 100.00% 100.00% Renting 1 0 1

Holbah II Limited Bahamas 0.00% 100.00% 100.00% 100.00% Holding company

110 (9) 511

Holbah Santander, S.L. Unipersonal


65 (6) 719




Holmes Funding Limited United 0.00%

100.00% Securitisation 0 1 0 (2008-1) plc Kingdom Langton Securities United 0.00%

- Securitisation 0 0 0 Kingdom

Langton PECOH Limited United -

100.00% Securitisation 0 0 0 Trustee (UK) Limited Kingdom Langton Mortgages United 0.00%

100.00% Securitisation (20) (43) 0 (No.1) Limited Kingdom Langton Funding United 0.00%

96.35% Chemistry 0 0 0 S.A., en liquidación j La Unión Resinera Española, Spain 76.79%


100.00% It services 36 4 30 Isla de los Buques, S.A. Spain 99.98%

development Isban México, S.A. de C.V. Mexico 0.00%

- Research and 0 0 0 Pedreña, A.I.E. Investigaciones Spain 99.00%

100.00% Inactive 15 (2) 4 del Mediterráneo, S.A.

company Inversiones Marítimas Spain 100.00%

- Investment - - -S.A., en liquidación j i Inversiones Inverjota, SICAV, Spain 0.00%

100.00% Real estate - - -Inagua, S.A. i Inversiones Inmobiliarias Spain 0.00%

100.00% Real estate (11) 0 0 Gercebio, S.A. Inversiones Inmobiliarias Spain 97.80%

100.00% Real estate (29) 0 0 Cedaceros, S.A. Inversiones Inmobiliarias Spain 99.50%

100.00% Real estate 415 (1) 393 Alprosa, S.L.

company Inversiones Inmobiliarias Spain 94.33%

100.00% Holding 328 (10) 365 Inversiones Capital Global, Spain 100.00% S.A. Unipersonal

100.00% 100.00%

b -

100.00% 100.00%

100.00% 100.00%

100.00% 100.00%

100.00% 100.00%

2.83% 100.00%

100.00% 100.00%

100.00% 100.00%

0.00% 100.00% 0.00% 100.00%

100.00% 100.00%

79.52% 100.00%

0.00% 100.00%

0.50% 100.00%

0.00% 100.00%

5.67% 100.00%

0.50% 100.00%

2.20% 100.00%

0.00% 0.00%

0.00% 0.00%

0.00% 100.00%

1.00% 100.00%

75.13% 100.00% 0.02% 100.00%

19.55% 96.35%

100.00% 100.00%

100.00% 100.00%

b -

100.00% 100.00%

Auditors’ report



100.00% Securitisation (41) 3 0 Kingdom

Holmes Holdings Limited United - - Securitisation 0 0 0 Kingdom

Holmes Master Issuer plc United 0.00% 100.00% Securitisation 3 (5) 0 Kingdom

Holmes Trustees Limited United 0.00% 100.00% Securitisation 0 0 0 Kingdom

Holneth B.V. The 0.00% 100.00% Holding 401 4 316 Netherlands company

HQ Mobile Limited g United 0.00% - Internet 2 0 10 Kingdom technology

Ibérica de Compras Spain 97.17% 100.00% E-commerce 7 (2) 6 Corporativas, S.L. Independence Community United 0.00% 100.00% Holding 3,710 66 3,775 Bank Corp. States company Ingeniería de Software Chile 0.00% 100.00% It services 26 1 20 Bancario HUB Chile Limitada Inmo Francia 2, S.A. Spain 100.00% 100.00% Real estate 54 0 54 Inmobiliaria Viagracia, S.A. Spain 100.00% 100.00% Real estate 85 7 63 Insurance Funding United 0.00% 100.00% Finance 0 0 0 Solutions Limited Kingdom company Integry Tecnologia e Brazil 0.00% 100.00% Technology 16 0 13 Serviços A H U Ltda. services Interfnance Holanda B.V. The 100.00% 100.00% Holding 0 0 0

Netherlands company Intermediacion y Servicios Spain 99.50% 100.00% Services 2 1 2 Tecnológicos, S.A.

669





Langton Securities(2010-1) PLC

United Kingdom

0.00% 100.00% 100.00% 100.00% Securitisation 0 1 0

Langton Securities(2010-2) PLC

United Kingdom

0.00% 100.00% 100.00% 100.00% Securitisation 0 0 0

Langton SecuritiesHoldings Limited

United Kingdom


Laparanza, S.A. Spain 61.59% 0.00% 61.59% 61.59% Agriculturalholding

28 0 16

Liquidity Limited United Kingdom

0.00% 100.00% 100.00% 100.00% Factoring 1 0 0

Luri 1, S.A. m Spain 36.00% 0.00% 36.00% 31.00% Real estate 15 (3) 5 Luri 4, S.A. Unipersonal, en liquidación j i

Spain 0.00% 0.00% 0.00% 100.00% Real estate - - -

Luri 6, S.A. Unipersonal Spain 100.00% 0.00% 100.00% 100.00% Real estate investment

1,315 10 1,405

MAC No. 1 Limited United Kingdom

- b - - Mortgage credit company

0 0 0

Manberor, S.A. Spain 97.80% 2.20% 100.00% 100.00% Real estate (90) 0 0 Master Red Europa, S.L. Spain 96.34% 0.00% 96.34% 96.34% Cards 1 0 1 Mata Alta, S.L. Spain 0.00% 61.59% 100.00% 100.00% Real estate 0 0 0 Merciver, S.L. Spain 99.90% 0.10% 100.00% 100.00% Financial

advisory 1 0 1

Merlion Aviation One Designated Activity Company

Ireland 51.00% 0.00% 51.00% 51.00% Renting 33 3 0

Moneybit, S.L. Spain 100.00% 0.00% 100.00% 100.00% Services 0 0 0 Mortgage Engine Limited United

Kingdom 0.00% 100.00% 100.00% 100.00% Financial

services 0 (1) 0

Motor 2015-1 Holdings Limited United Kingdom


Motor 2015-1 PLC United Kingdom

0.00% 100.00% 100.00% 100.00% Securitisation 0 0 0

Motor 2016-1 Holdings Limited

United Kingdom



0.00% 100.00% 100.00% 100.00% Securitisation 0 0 0

Motor 2016-1M Ltd j United Kingdom


Motor 2017-1 Holdings Limited United Kingdom



0.00% 100.00% 100.00% 100.00% Securitisation 0 (2) 0

Naviera Mirambel, S.L. Spain 0.00% 100.00% 100.00% 100.00% Finance company

0 0 0

Naviera Trans Gas, A.I.E. Spain 99.99% 0.01% 100.00% 100.00% Renting 16 3 49 Naviera Trans Iron, S.L. Spain 100.00% 0.00% 100.00% 100.00% Leasing 22 1 21 Naviera Trans Ore, A.I.E. Spain 99.99% 0.01% 100.00% 100.00% Renting 20 2 17 Naviera Trans Wind, S.L. Spain 99.99% 0.01% 100.00% 100.00% Renting 3 0 3 Naviera Transcantábrica, S.L. Spain 100.00% 0.00% 100.00% 100.00% Leasing 4 0 4 Naviera Transchem, S.L. Unipersonal

Spain 100.00% 0.00% 100.00% 100.00% Leasing 1 0 1

Newcomar, S.L., en liquidación j

Spain 40.00% 40.00% 80.00% 80.00% Real estate 1 0 0

Norbest AS Norway 7.94% 92.06% 100.00% 100.00% Securities investment

94 (1) 93

Novimovest – Fundo de Investimento Imobiliário

Portugal 0.00% 79.65% 79.76% 79.51% Investment fund

336 9 274




NW Services CO. United 0.00%

100.00% Financial 1 0 1 advisory

Premier Credit S.A.S. Colombia 0.00%

100.00% Internet 0 (1) 0 Prestação de Serviços de Informática, S.A.

Portal Universia Portugal, Portugal 0.00%

75.75% Internet 0 0 0 Argentina S.A. Portal Universia Argentina 0.00%

84.07% Insurance 9 0 7 de Seguros S.A. Popular Seguros - Companhia Portugal 0.00%


Popular Operaciones, S.A. Spain 100.00%

100.00% Management 7 1 7 S.G.I.I.C., S.A. of funds and

portfolios

Popular Gestión Privada Spain 0.00%

100.00% Management 1 0 1 Activos, S.A. of funds and

portfolios

100.00% Renting - - -Popular Gestão de Portugal 100.00% Popular de Renting, S.A. i Spain 0.00%

100.00% Venture capital - - -Financieras, S.A. i Popular de Participaciones Spain 0.00%

100.00% Finance (2) 0 0 company

Popular Capital, S.A. Spain 90.00%

100.00% Securities 6 1 6 company

100.00% Services 0 0 0 Popular Bolsa S.V., S.A. Spain 100.00% Pingham International, S.A. Uruguay 0.00%

51.00% Renting 3 2 0 Designated Activity Company Phoenix C1 Aviation Ireland 51.00%

100.00% Holding 51 (9) 4 company

Pereda Gestión, S.A. Spain 99.99%

100.00% Securitisation 0 0 0 Kingdom

PECOH Limited United 0.00%

100.00% 100.00%

53.91% 100.00% 0.00% 100.00%

100.00% 100.00% 0.03% 100.00% 0.00% 100.00%

0.00% 100.00%

54.18% 51.25%

44.08% 51.57%

55.86% 56.34%

0.00% 100.00%

0.00% 0.00%

b -

100.00% 100.00%

100.00% 100.00%

0.01% 100.00%

0.00% 51.00%

100.00% 100.00% 0.00% 100.00%

10.00% 100.00%

0.00% 0.00%

0.00% 0.00% 0.00% 100.00%

100.00% 100.00%

0.00% 100.00%

99.90% 100.00%

75.75% 75.75%

100.00% 100.00%

100.00% 100.00%

Auditors’ report



100.00% E-commerce 4 0 2 States

Olé Tecnologia Ltda. Brazil 0.00% 100.00% It services 0 1 0 Open Bank, S.A. Spain 100.00% 100.00% Banking 206 5 210 Open Digital Market, S.L. Spain 0.00% - Services 0 0 0 Open Digital Services, S.L. Spain 99.97% 100.00% Services 38 (58) 0 Operadora de Carteras Mexico 100.00% 100.00% Holding 7 0 22 Gamma, S.A.P.I. de C.V. company Optimal Investment Switzerland 100.00% 100.00% Fund 24 (1) 23 Services SA management

company Optimal Multiadvisors Ireland Ireland 0.00% 51.25% Fund 4 0 0 Plc / Optimal Strategic US management Equity Ireland Euro Fund i company Optimal Multiadvisors Ireland Ireland 0.00% 51.62% Fund 5 0 0 Plc / Optimal Strategic US management Equity Ireland US Dollar Fund i company Optimal Multiadvisors Ltd / Bahamas 0.00% 56.10% Fund 45 1 0 Optimal Strategic US Equity management Series (consolidado) i company Parasant SA Switzerland 100.00% 100.00% Holding 1,097 (89) 904

company Pastor Vida, S.A. de Spain 0.00% 100.00% Insurance - - -Seguros y Reaseguros i

PBD Germany Auto 2018 Germany - - Securitisation 0 0 0 UG (haftungsbeschränkt) PBE Companies, LLC United 0.00% 100.00% Real estate 109 1 110

States

671





Prime 16 – Fundo de Investimentos Imobiliário

Brazil 0.00% 89.85% 100.00% 100.00% Investment fund

99 (8) 80

Primestar Servicing, S.A. Portugal 20.00% 79.89% 100.00% 80.00% Real estate 1 0 2 Produban Brasil Tecnologia Ltda.

Brazil 0.00% 100.00% 100.00% - Technologyservices

3 1 1

PSA Bank Deutschland GmbH Germany 0.00% 50.00% 50.00% 50.00% Banking 428 44 219 PSA Banque France France 0.00% 50.00% 50.00% 50.00% Banking 1,093 116 463 PSA Consumer Finance Polska Sp. z o.o.

Poland 0.00% 40.24% 100.00% 100.00% Finance company

1 0 0

PSA Finance Belux S.A. Belgium 0.00% 50.00% 50.00% 50.00% Finance company

100 17 42

PSA Finance Polska Sp. z o.o. Poland 0.00% 40.24% 50.00% 50.00% Finance company

30 4 11

PSA Finance Suisse, S.A. Switzerland 0.00% 50.00% 100.00% 100.00% Leasing 34 7 15 PSA Finance UK Limited United

Kingdom 0.00% 50.00% 50.00% 50.00% Finance

company 288 55 123

PSA Financial Services Nederland B.V.

The Netherlands

0.00% 50.00% 50.00% 50.00% Finance company

60 13 20

PSA Financial Services Spain, E.F.C., S.A.


410 55 174

PSA Renting Italia S.p.A. Italy 0.00% 50.00% 100.00% - Renting 6 2 3 PSRT 2018-A United

States - b - - Securitisation 0 57 0

Punta Lima, LLC United States

0.00% 100.00% 100.00% 100.00% Leasing 19 (2) 17

Recovery Team, S.L. Unipersonal


5 9 11

Retop S.A. f Uruguay 100.00% 0.00% 100.00% 100.00% Finance company

11 21 63

Return Capital Serviços de Recuperação de Créditos S.A.

Brazil 0.00% 62.90% 70.00% 70.00% Collection services

0 1 1

Return Gestão de Recursos S.A.

Brazil 0.00% 62.90% 100.00% 100.00% Fund management company

0 0 0

Riobank International (Uruguay) SAIFE j

Uruguay 0.00% 100.00% 100.00% 100.00% Banking 0 0 0

Roc Aviation One Designated Activity Company

Ireland 100.00% 0.00% 100.00% 100.00% Renting (2) (1) 0

Roc Shipping One Designated Activity Company

Ireland 51.00% 0.00% 51.00% 51.00% Renting (1) (1) 0

Rojo Entretenimento S.A. Brazil 0.00% 85.00% 94.60% 94.60% Services 28 1 25 SAM Asset Management, S.A. de C.V., Sociedad Operadora de Fondos de Inversión

Mexico 0.00% 100.00% 100.00% 100.00% Fund management company

3 16 161

SAM Brasil Participações S.A. Brazil 1.00% 99.00% 100.00% 100.00% Holding company

33 3 38

SAM Finance Lux S.à r.l. Luxembourg 0.00% 100.00% 100.00% 100.00% Management 4 0 2 SAM Investment Holdings Limited u

Jersey 0.00% 100.00% 100.00% 100.00% Holding company

982 105 1,551

SAM UK Investment Holdings Limited

United Kingdom

92.38% 7.62% 100.00% 100.00% Holding company

1,093 511 1,665

Sancap Investimentose Participações S.A.

Brazil 0.00% 89.85% 100.00% 100.00% Holding company

117 11 88

Saninv - Gestão e Investimentos, Sociedade Unipessoal, S.A.

Portugal 0.00% 100.00% 100.00% 100.00% Portfolio management

0 0 0

Santander (CF Trustee Property Nominee) Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Services 0 0 0

Auditors’ report






Santander (CF Trustee) Limited d

United Kingdom

0.00% 100.00% 100.00% 100.00% Asset management

0 0 0

Santander (UK) Group PensionSchemes Trustees Limited d

United Kingdom

0.00% 100.00% 100.00% 100.00% Asset management

0 0 0

Santander Agente deValores Limitada

Chile 0.00% 67.44% 100.00% 100.00% Securities company

51 13 43

Santander Ahorro Inmobiliario 1, S.A.

Spain 97.95% 0.58% 98.53% 98.54% Real estate investment

23 (1) 21

Santander Ahorro Inmobiliario 2, S.A.

Spain 99.13% 0.78% 99.91% 99.91% Real estate investment

23 0 23

Santander Asset Finance (December) Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Leasing 54 9 0

Santander Asset Finance plc United Kingdom

0.00% 100.00% 100.00% 100.00% Leasing 216 19 162

Santander Asset Management - Sociedade Gestora de Fundos de Investimento Mobiliário, S.A.

Portugal 100.00% 0.00% 100.00% 100.00% Fund management company

27 1 27

Santander Asset Management Chile S.A.

Chile 0.01% 99.94% 100.00% 100.00% Securities investment

(6) 0 0

Santander Asset ManagementLuxembourg, S.A.

Luxembourg 0.00% 100.00% 100.00% 100.00% Fund management company

4 1 0

Santander Asset ManagementS.A. Administradora General de Fondos

Chile 0.00% 100.00% 100.00% 100.00% Fund management company

27 10 132

Santander Asset ManagementUK Holdings Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Holding company

278 14 186

Santander Asset Management UK Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Managementof funds and portfolios

37 25 201

Santander Asset Management, LLC

Puerto Rico 0.00% 100.00% 100.00% 100.00% Management 3 2 5

Santander Asset Management, S.A., S.G.I.I.C.

Spain 0.00% 100.00% 100.00% 100.00% Fund management company

22 55 167

Santander Back-Ofces Globales Mayoristas, S.A.

Spain 100.00% 0.00% 100.00% 100.00% Services 4 1 1

Santander Banca de Inversión Colombia, S.A.S.

Colombia 0.00% 100.00% 100.00% 100.00% Financial services

1 0 1

Santander BanCorp Puerto Rico 0.00% 100.00% 100.00% 100.00% Holding company

927 56 983

Santander Bank & Trust Ltd. Bahamas 0.00% 100.00% 100.00% 100.00% Banking 796 (5) 403 Santander Bank Polska S.A. Poland 67.47% 0.00% 67.47% 69.34% Banking 5,043 504 4,312 Santander Bank, National Association

United States

0.00% 100.00% 100.00% 100.00% Banking 11,364 346 11,708

Santander Brasil Administradora de Consórcio Ltda.

Brazil 0.00% 89.85% 100.00% 100.00% Services 39 32 64

Santander Brasil Asset Management Distribuidorade Títulos e Valores Mobiliários S.A.

Brazil 0.00% 100.00% 100.00% 100.00% Securities investment

33 2 35

Santander Brasil Gestão de Recursos Ltda.

Brazil 0.00% 100.00% 100.00% 100.00% Real estate investment

465 66 576

Santander Brasil Tecnologia S.A.

Brazil 0.00% 89.85% 100.00% 100.00% It services 32 (2) 27

Santander Brasil, EFC, S.A. Spain 0.00% 89.85% 100.00% 100.00% Finance company

763 9 714

Santander Capital Desarrollo,SGEIC, S.A. Unipersonal

Spain 100.00% 0.00% 100.00% 100.00% Venture capital 11 (1) 8

673





Santander CapitalStructuring, S.A. de C.V.

Mexico 0.00% 100.00% 100.00% 100.00% Trade 8 2 0

Santander Capitalização S.A. Brazil 0.00% 89.85% 100.00% 100.00% Insurance 46 29 65 Santander Cards Ireland Limited

Ireland 0.00% 100.00% 100.00% 100.00% Cards (8) 0 0

Santander Cards Limited United Kingdom

0.00% 100.00% 100.00% 100.00% Cards 93 0 93

Santander Cards UK Limited United Kingdom

0.00% 100.00% 100.00% 100.00% Finance company

149 (1) 106

Santander Chile Holding S.A. Chile 22.11% 77.72% 99.84% 99.84% Holding company

1,390 265 1,393

Santander Consulting(Beijing) Co., Ltd.

China 0.00% 100.00% 100.00% 100.00% Advisory 7 1 4

Santander Consumer (UK) plc United Kingdom

0.00% 100.00% 100.00% 100.00% Finance company

465 106 291

Santander Consumer ABS Funding 3 LLC

United States

0.00% 69.71% 100.00% 100.00% Finance company

(63) (42) 0

Santander Consumer Auto Receivables Funding 2013-B2 LLC

United States

0.00% 69.71% 100.00% 100.00% Finance company

(35) 69 0


United States

0.00% 69.71% 100.00% 100.00% Finance company

16 (31) 0

Santander Consumer Auto Receivables Funding 2013-L1 LLC

United States

0.00% 69.71% 100.00% 100.00% Finance company

323 73 0


United States

0.00% 69.71% 100.00% 100.00% Finance company

61 0 0


United States

0.00% 69.71% 100.00% 100.00% Finance company

20 1 0


United States

0.00% 69.71% 100.00% 100.00% Finance company

24 (2) 0


United States

0.00% 69.71% 100.00% 100.00% Finance company

46 23 0


United States

0.00% 69.71% 100.00% 100.00% Finance company

50 29 0


United States

0.00% 69.71% 100.00% 100.00% Finance company

(14) 8 0


United States

0.00% 69.71% 100.00% 100.00% Finance company

(18) 19 0


United States

0.00% 69.71% 100.00% 100.00% Finance company

(29) 9 0


United States

0.00% 69.71% 100.00% 100.00% Finance company

(17) 11 0


United States

0.00% 69.71% 100.00% 100.00% Finance company

30 31 0


United States

0.00% 69.71% 100.00% 100.00% Finance company

23 21 0


United States

0.00% 69.71% 100.00% 100.00% Finance company

8 10 0

Auditors’ report







United States

0.00% 69.71% 100.00% 100.00% Finance company

9 10 0


United States

0.00% 69.71% 100.00% 100.00% Finance company

8 11 0


United States

0.00% 69.71% 100.00% 100.00% Finance company

3 8 0


United States

0.00% 69.71% 100.00% 100.00% Finance company

2 12 0


United States

0.00% 69.71% 100.00% 100.00% Finance company

54 11 0


United States

0.00% 69.71% 100.00% 100.00% Finance company

0 71 0


United States

0.00% 69.71% 100.00% - Finance company

0 19 0


United States

0.00% 69.71% 100.00% - Finance company

0 28 0


United States

0.00% 69.71% 100.00% - Finance company

0 24 0


United States

0.00% 69.71% 100.00% - Finance company

0 19 0

Santander Consumer Bank Belgium 0.00% 100.00% 100.00% 100.00% Banking 1,166 28 1,170 Santander Consumer Bank AG Germany 0.00% 100.00% 100.00% 100.00% Banking 3,063 463 4,820 Santander Consumer Bank AS Norway 0.00% 100.00% 100.00% 100.00% Finance

company 1,910 262 1,996

Santander Consumer Bank GmbH

Austria 0.00% 100.00% 100.00% 100.00% Banking 334 43 363

Santander Consumer Bank S.A.

Poland 0.00% 80.48% 100.00% 100.00% Banking 637 130 506

Santander Consumer Bank S.p.A.

Italy 0.00% 100.00% 100.00% 100.00% Banking 737 79 603

Santander Consumer Banque S.A.

France 0.00% 100.00% 100.00% 100.00% Banking 491 26 490

Santander Consumer Chile S.A.

Chile 51.00% 0.00% 51.00% 51.00% Finance company

59 14 15

Santander Consumer Credit Services Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Finance company

(35) 0 0

Santander Consumer Finance Benelux B.V.

The Netherlands

0.00% 100.00% 100.00% 100.00% Finance company

126 24 190

Santander Consumer Finance Global Services, S.L.

Spain 0.00% 100.00% 100.00% 100.00% Technologyservices

5 0 5

Santander Consumer Finance Oy

Finland 0.00% 100.00% 100.00% 100.00% Finance company

205 55 130

Santander Consumer Finance, S.A.

Spain 75.00% 25.00% 100.00% 100.00% Banking 10,154 560 7,327

Santander Consumer Finanse Sp. z o.o.

Poland 0.00% 80.48% 100.00% 100.00% Services 15 0 13

Santander Consumer Holding Austria GmbH

Austria 0.00% 100.00% 100.00% 100.00% Holding company

364 21 518

Santander Consumer Holding GmbH

Germany 0.00% 100.00% 100.00% 100.00% Holding company

4,784 284 5,827

675





Santander Consumer International Puerto Rico LLC

Puerto Rico 0.00% 69.71% 100.00% 100.00% Services 6 2 5

Santander Consumer Leasing GmbH

Germany 0.00% 100.00% 100.00% 100.00% Leasing 20 40 101

Santander Consumer Mediación Operador deBanca-Seguros Vinculado, S.L.

Spain 0.00% 94.61% 100.00% 100.00% Insurance intermediary

1 0 0

Santander Consumer Multirent Sp. z o.o.

Poland 0.00% 80.48% 100.00% 100.00% Leasing 23 2 5

Santander Consumer Operations Services GmbH

Germany 0.00% 100.00% 100.00% 100.00% Services 9 0 18

Santander Consumer Receivables 10 LLC

United States

0.00% 69.71% 100.00% 100.00% Finance company

712 27 0


United States

0.00% 69.71% 100.00% 100.00% Finance company

233 (2) 0


United States

0.00% 69.71% 100.00% 100.00% Finance company

213 60 0


United States

0.00% 69.71% 100.00% 100.00% Finance company

301 68 0

Santander Consumer Receivables Funding LLC

United States

0.00% 69.71% 100.00% 100.00% Finance company

0 0 0

Santander Consumer Renting, S.L.

Spain 0.00% 100.00% 100.00% 100.00% Leasing 36 1 39

Santander Consumer Services GmbH

Austria 0.00% 100.00% 100.00% 100.00% Services 0 0 0

Santander Consumer Services, S.A.

Portugal 0.00% 100.00% 100.00% 100.00% Finance company

6 2 5

Santander Consumer Technology Services GmbH

Germany 0.00% 100.00% 100.00% 100.00% It services 12 2 24

Santander Consumer USA Holdings Inc.

United States

0.00% 69.71% 69.71% 68.12% Holding company

5,330 800 4,805

Santander Consumer USA Inc. United States

0.00% 69.71% 100.00% 100.00% Finance company

4,860 (85) 3,329

Santander Consumer, EFC, S.A.


488 90 505

Santander Consumo, S.A. de C.V., S.O.F.O.M., E.R., Grupo Financiero Santander México

Mexico 0.00% 75.13% 100.00% 100.00% Cards 597 155 566

Santander Corredora de Seguros Limitada

Chile 0.00% 67.20% 100.00% 100.00% Insurance brokerage

84 2 58

Santander Corredores de Bolsa Limitada

Chile 0.00% 83.23% 100.00% 100.00% Securities company

54 2 46

Santander Corretora de Câmbio e Valores Mobiliários S.A.

Brazil 0.00% 89.85% 100.00% 100.00% Securities company

127 15 120

Santander Corretora de Seguros, Investimentose Serviços S.A.


497 82 518

Santander de Titulización S.G.F.T., S.A.


5 2 2

Santander Drive Auto Receivables LLC

United States

0.00% 69.71% 100.00% 100.00% Finance company

1 0 0

Santander Drive Auto Receivables Trust 2014-4

United States



United States



United States





Santander Drive Auto United -

100.00% Finance 84 68 87 Kingdom company

Santander Fintech Limited United 100.00%

100.00% Financial 49 8 20 services

company Santander Finanse Sp. z o.o. Poland 0.00%

100.00% Finance 166 (4) 162 Services, Inc.

company Santander Financial Puerto Rico 0.00%

100.00% Finance 0 0 0 Exchanges Limited Kingdom

services Santander Financial United 100.00%

100.00% Financial 2 0 2 States

Santander Finance 2012-1 LLC United 0.00%

100.00% Investment 473 (197) 247 company

Santander FI Hedge Strategies Ireland 0.00%

100.00% Factoring 220 96 126 Confrming, S.A., E.F.C. Santander Factoring y Spain 100.00%

100.00% Financial 14 4 1 services

100.00% Factoring 42 1 43 Santander Factoring Sp. z o.o. Poland 0.00% Santander Factoring S.A. Chile 0.00%


Santander F24 S.A. Poland 0.00%

100.00% Real estate 4 0 0 Kingdom

Santander Estates Limited United 0.00%

100.00% Payment 204 4 180 Services, Entidad de services Pago, S.L. Unipersonal

company Santander España Merchant Spain 100.00%

100.00% Finance 43 6 45 Investments Limited Kingdom Santander Equity United 0.00%

59.66% Venture capital 11 0 6 Renovables I, S.C.R., S.A. Santander Energías Spain 59.66%

- Securitisation 0 (88) 0 Receivables Trust 2018-5 States

b -

b -

b -

b -

b -

b -

b -

b -

b -

b -

b -

b -

b -

b -

b -

0.00% 59.66%

100.00% 100.00%

0.00% 100.00%

100.00% 100.00%

67.47% 100.00%

99.84% 100.00% 67.47% 100.00%

0.00% 100.00%

89.85% 100.00%

100.00% 100.00%

0.00% 100.00%

100.00% 100.00%

67.47% 100.00%

0.00% 100.00%

Auditors’ report



- Securitisation 53 24 0 Receivables Trust 2015-2 States Santander Drive Auto United - - Securitisation 35 22 0 Receivables Trust 2015-3 States Santander Drive Auto United - - Securitisation 24 28 0 Receivables Trust 2015-4 States Santander Drive Auto United - - Securitisation 26 25 0 Receivables Trust 2015-5 States Santander Drive Auto United - - Securitisation (2) 30 0 Receivables Trust 2016-1 States Santander Drive Auto United - - Securitisation (9) 43 0 Receivables Trust 2016-2 States Santander Drive Auto United - - Securitisation (29) 59 0 Receivables Trust 2016-3 States Santander Drive Auto United - - Securitisation (52) 55 0 Receivables Trust 2017-1 States Santander Drive Auto United - - Securitisation (74) 69 0 Receivables Trust 2017-2 States Santander Drive Auto United - - Securitisation (86) 71 0 Receivables Trust 2017-3 States Santander Drive Auto United - - Securitisation 0 (41) 0 Receivables Trust 2018-1 States Santander Drive Auto United - - Securitisation 0 (58) 0 Receivables Trust 2018-2 States Santander Drive Auto United - - Securitisation 0 (69) 0 Receivables Trust 2018-3 States Santander Drive Auto United - - Securitisation 0 (66) 0 Receivables Trust 2018-4 States Santander Drive Auto United -

677





Santander Fund Administration, S.A. Unipersonal


5 (2) 3

Santander Fundo de Investimento Amazonas Multimercado Crédito Privado Investimento no Exterior o


123 17 141

Santander Fundo de Investimento Diamantina Multimercado Crédito Privado Investimento no Exterior g


406 23 392

Santander Fundo de Investimento Financial Curto Prazo e


1,124 155 0

Santander Fundo de Investimento GuarujáMultimercado Crédito Privado Investimento no Exterior d


69 18 104

Santander Fundo de Investimento SBAC Referenciado di Crédito Privado h


712 33 694

Santander Fundo de Investimento Unix Multimercado Crédito Privado o


77 7 79

Santander GBM Secured Financing DesignatedActivity Company i

Ireland 0.00% 0.00% 0.00% - Securitisation - - -

Santander Gestión de Recaudación y Cobranzas Ltda.

Chile 0.00% 99.84% 100.00% 100.00% Financial services

5 1 5

Santander Global Consumer Finance Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Finance company

6 1 6

Santander Global Facilities, S.A. de C.V.

Mexico 100.00% 0.00% 100.00% 100.00% Real estate management

95 2 96

Santander Global Facilities, S.L.

Spain 100.00% 0.00% 100.00% 100.00% Real estate 268 (25) 250

Santander Global Operations, S.A.

Spain 100.00% 0.00% 100.00% 100.00% Services 34 29 24

Santander Global Property, S.L.

Spain 97.34% 2.66% 100.00% 100.00% Securities investment

258 (5) 255

Santander Global Services, S.A. j

Uruguay 0.00% 100.00% 100.00% 100.00% Services 0 0 0

Santander Global Sport, S.A. Spain 100.00% 0.00% 100.00% 100.00% Sports activity 24 (6) 19 Santander Global Technology, S.L.

Spain 100.00% 0.00% 100.00% - It services 391 83 346

Santander Guarantee Company

United Kingdom

0.00% 100.00% 100.00% 100.00% Leasing 4 0 3

Santander Hermes Multimercado Crédito Privado Infraestructura Fundo de Investimento t

Brazil 0.00% 89.85% 100.00% - Investment fund

- - -

Santander Hipotecario1 Fondo de Titulización de Activos









Santander Holding Brazil 0.00%

100.00% Services 18 0 18 España, S.L.

services Santander Operaciones Spain 100.00%

- Financial 0 0 0 Holdings Limited Kingdom Santander Mortgage United 0.00%


Santander Merchant S.A. Argentina 0.00%

100.00% Insurance 5 5 2 Operador de Banca- intermediary Seguros Vinculado, S.A.

company Santander Mediación Spain 96.70%

100.00% Mortgage credit 221 5 225 Kingdom

Santander Lending Limited United 0.00%

100.00% Leasing 13 (7) 7 States

Santander Leasing, LLC United 0.00%

99.99% Leasing 1,305 73 1,163 Arrendamento Mercantil

100.00% Leasing 130 4 30 Santander Leasing S.A. Brazil 0.00% Santander Leasing S.A. Poland 0.00%

- Securitisation 0 0 0 Securitization 01 DesignatedActivity Company

100.00% Leasing 90 14 35 Santander Leasing Poland Ireland -Santander Lease, S.A., E.F.C. Spain 70.00%

100.00% Management 14 8 6 Managers Limited Kingdom of funds and

portfolios

company Santander ISA United 0.00%

100.00% Securities 9 0 7 Sp. z o.o.

100.00% Banking 191 0 186 Santander Inwestycje Poland 0.00%

company Santander Investment, S.A. Spain 100.00%

100.00% Securities 402 14 416 Securities Inc. States

100.00% Inactive 0 0 0 Santander Investment United 0.00% Santander Investment Limited Bahamas 0.00%

100.00% Holding 219 0 27 company

company Santander Investment I, S.A. Spain 100.00%

89.85% 100.00%

0.05% 100.00%

0.00% 100.00%

75.13% 100.00%

100.00% 100.00%

100.00% 100.00%

0.00% 100.00%

0.00% 100.00%

100.00% 100.00%

0.01% 100.00%

100.00% 100.00%

100.00% 100.00%

100.00% 100.00%

0.00% 100.00%

100.00% 100.00% 100.00% 100.00%

0.00% 100.00% 67.47% 100.00%

100.00% 100.00%

30.00% 100.00% b -

67.47% 100.00% 89.85% 99.99%

100.00% 100.00%

100.00% 100.00%

3.30% 100.00%

100.00% 100.00%

100.00% 100.00%

0.00% 100.00%

Auditors’ report



100.00% Real estate 5 (1) 4 Imobiliária S.A. Santander Holding Spain 99.95% 100.00% Holding 3,651 1 2,463 Internacional, S.A. company Santander Holdings USA, Inc. United 100.00% 100.00% Holding 17,842 618 12,392

States company Santander Inclusión Mexico 0.00% 100.00% Finance 12 (5) 5 Financiera, S.A. de C.V., company S.O.F.O.M., E.R., Grupo Financiero Santander México Santander Insurance Puerto Rico 0.00% 100.00% Insurance 7 1 8 Agency, Inc. brokerage Santander Insurance United 0.00% 100.00% Insurance 1 0 1 Agency, U.S., LLC States Santander Insurance United 100.00% 100.00% Asset 39 1 40 Services UK Limited Kingdom management Santander Intermediación Spain 100.00% 100.00% Insurance 19 1 18 Correduría de Seguros, S.A. brokerage Santander International Jersey 0.00% - Finance 0 0 0 Limited company Santander International Ireland 99.99% 100.00% Finance 1 0 0 Products, Plc. u company Santander Inversiones S.A. Chile 0.00% 100.00% Holding 1,448 204 1,032

company Santander Investment Bahamas 0.00% 100.00% Banking 954 (8) 899 Bank Limited Santander Investment Chile 0.00% 100.00% Finance 543 16 321 Chile Limitada

679





Santander Paraty Qif PLC Ireland 0.00% 89.85% 100.00% 100.00% Investment fund

473 (197) 248

Santander Pensiones, S.A., E.G.F.P.

Spain 0.00% 100.00% 100.00% 100.00% Pension fund management company

14 19 118

Santander Pensões - Sociedade Gestora de Fundos de Pensões, S.A.

Portugal 100.00% 0.00% 100.00% 100.00% Pension fund management company

4 0 4

Santander Prime Auto Issuance Notes 2018-A Designated Activity Company


Santander Prime Auto Issuance Notes 2018-B Designated Activity Company


Santander Prime Auto Issuance Notes 2018-C Designated Activity Company


Santander Prime Auto Issuance Notes 2018-D Designated Activity Company


Santander Prime Auto Issuance Notes 2018-E Designated Activity Company


Santander Private BankingGestión, S.A., S.G.I.I.C.


52 9 35

Santander Private Bankings.p.a. in Liquidazione j

Italy 100.00% 0.00% 100.00% 100.00% Finance company

39 (6) 33

Santander Private Banking UK Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Real estate 285 1 389

Santander Private Real Estate Advisory & Management, S.A.


Santander Private Real Estate Advisory, S.A.


Santander Real Estate, S.G.I.I.C., S.A.


118 0 118

Santander Retail Auto Lease Funding LLC

United States

0.00% 69.71% 100.00% 100.00% Securitisation 0 0 0

Santander Retail Auto Lease Trust 2017-A

United States


Santander Retail Auto Lease Trust 2018-A

United States


Santander Río Asset Management Gerentede Fondos Comunes de Inversión S.A.

Argentina 0.00% 100.00% 100.00% 100.00% Fund management company

1 3 3

Santander Río Servicios S.A. Argentina 0.00% 99.97% 100.00% 100.00% Advisory services

0 0 0

Santander Río Trust S.A. Argentina 0.00% 99.97% 100.00% 100.00% Services 0 0 0 Santander Río Valores S.A. Argentina 0.00% 99.34% 100.00% 100.00% Securities

company 3 1 4

Santander S.A. Sociedad Securitizadora

Chile 0.00% 67.24% 100.00% 100.00% Fund management company

1 0 1

Santander Secretariat Services Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Holding company

0 0 0

Santander Securities LLC United States


136 (110) 26

Santander Securities S.A. Poland 0.00% 67.47% 100.00% - Securities company

10 0 3

Auditors’ report






Santander Securities Services Brasil Distribuidora de Títulos e Valores Mobiliários S.A.

Brazil 0.00% 100.00% 100.00% 100.00% Securities investment

207 19 213

Santander Securities Services Brasil Participações S.A.


223 21 272

Santander Securities Services Colombia S.A. Sociedad Fiduciaria

Colombia 0.00% 100.00% 100.00% 100.00% Finance company

10 (1) 11

Santander Securities Services, S.A. Unipersonal

Spain 0.00% 100.00% 100.00% 100.00% Banking 512 52 372

Santander Seguros y Reaseguros, CompañíaAseguradora, S.A.

Spain 100.00% 0.00% 100.00% 100.00% Insurance 1,169 132 1,188

Santander Servicios Corporativos, S.A. de C.V.

Mexico 0.00% 75.14% 100.00% 100.00% Services 5 1 5

Santander Servicios Especializados, S.A. de C.V.

Mexico 0.00% 75.13% 100.00% 100.00% Financial services

2 0 1

Santander SpeedboatsHolding Company, S.L.

Spain 99.97% 0.03% 100.00% - Holding company

0 0 0

Santander Technology USA, LLC

United States

0.00% 100.00% 100.00% 100.00% It services 138 (29) 109

Santander Tecnología Argentina S.A.

Argentina 0.00% 99.34% 100.00% 100.00% It services 2 1 3

Santander Tecnología España, S.L.

Spain 100.00% 0.00% 100.00% 100.00% It services 35 5 35

Santander Totta Seguros, Companhia de Seguros de Vida, S.A.

Portugal 0.00% 99.90% 100.00% 100.00% Insurance 93 18 47

Santander Totta, SGPS, S.A. Portugal 0.00% 99.90% 99.90% 99.90% Holding company

3,357 630 3,923

Santander TowarzystwoFunduszy Inwestycyjnych S.A.

Poland 50.00% 33.74% 100.00% 100.00% Fund management company

4 44 39

Santander Trade Services Limited

Hong-Kong 0.00% 100.00% 100.00% 100.00% Inactive 17 0 16

Santander UK Foundation Limited

United Kingdom

- b - - Charitable services

0 0 0

Santander UK GroupHoldings plc

United Kingdom

77.67% 22.33% 100.00% 100.00% Finance company

13,492 1,400 20,327

Santander UK Investments United Kingdom

100.00% 0.00% 100.00% 100.00% Finance company

49 0 45

Santander UK Operations Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Services 17 3 17

Santander UK plc United Kingdom

0.00% 100.00% 100.00% 100.00% Banking 14,361 2,291 14,559

Santander UK Technology Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% It services 6 10 6

Santander Vivienda, S.A. de C.V., S.O.F.O.M., E.R., Grupo Financiero Santander México


330 22 260

Santander Vivienda, S.A. de C.V., S.O.F.O.M., E.R., Grupo Financiero SantanderMéxico como Fiduciaria del Fideicomiso Bursa

Mexico - b - - Securitisation 5 0 0

Santusa Holding, S.L. Spain 69.76% 30.24% 100.00% 100.00% Holding company

6,903 718 6,460

SC Austria Finance 2013-1 S.A. Luxembourg - b - - Securitisation 0 0 0 SC Germany Auto 2013-2 UG (haftungsbeschränkt) j

Germany - b - - Securitisation 0 0 0

681





SC Germany Auto 2014-1 UG (haftungsbeschränkt) j


SC Germany Auto 2014-2 UG (haftungsbeschränkt)










SC Germany Consumer 2013-1 UG (haftungsbeschränkt) j


SC Germany Consumer 2014-1 UG (haftungsbeschränkt)









Germany - b - - Securitisation 0 (16) 0

SC Germany Vehicles 2013-1 UG (haftungsbeschränkt)


SC Germany Vehicles 2015-1 UG (haftungsbeschränkt)


SC Poland Consumer 15-1 Sp. z.o.o.

Poland - b - - Securitisation 0 0 0

SC Poland Consumer 16-1 Sp. z o.o.

Poland - b - - Securitisation 0 0 0

SCF Ajoneuvohallinto I Limited


SCF Ajoneuvohallinto II Limited


SCF Ajoneuvohallinto KIMI VI Limited


SCF Ajoneuvohallinto VII Limited


SCF Eastside Locks GP Limited United Kingdom

0.00% 100.00% 100.00% 100.00% Real estate management

0 0 0

SCF Rahoituspalvelut I Designated Activity Company


SCF Rahoituspalvelut II Designated Activity Company


SCF Rahoituspalvelut KIMI VI Designated Activity Company


SCF Rahoituspalvelut VII Designated Activity Company

Ireland - b - - Securitisation (1) 0 0

SCFI Ajoneuvohallinto Limited j


SCFI RahoituspalvelutDesignated Activity Company j


Secucor Finance 2013-I Designated Activity Company q


Services and Promotions Delaware Corp.

United States

0.00% 100.00% 100.00% 100.00% Holding company

59 3 62

Auditors’ report






Services and Promotions Miami LLC

United States

0.00% 100.00% 100.00% 100.00% Real estate 50 3 53

Servicio de Alarmas Controladas porOrdenador, S.A.

Spain 99.99% 0.01% 100.00% 100.00% Security 1 0 1

Servicios CorporativosSeguros Serfn, S.A. de C.V. j

Mexico 0.00% 85.30% 100.00% 100.00% Services 0 0 0

Servicios de Cobranza, Recuperación y Seguimiento, S.A. de C.V.


30 1 7

Sheppards MoneybrokersLimited

United Kingdom


0 0 0

Shiloh III Wind Project, LLC United States

0.00% 100.00% 100.00% 100.00% Electricityproduction

298 8 307

SI Distribuidora de Títulos e Valores Mobiliários S.A.

Brazil 0.00% 89.85% 100.00% 100.00% Leasing 88 (7) 73

Silk Finance No. 4 Portugal - b - - Securitisation (6) 0 0 Sobrinos de José Pastor Inversiones, S.A. i


- - -

Sociedad Integralde Valoraciones Automatizadas, S.A.

Spain 100.00% 0.00% 100.00% 100.00% Appraisals 1 2 1

Socur, S.A. f Uruguay 100.00% 0.00% 100.00% 100.00% Finance company

36 27 59

Sol Orchard Imperial 1 LLC c United States


32 (1) 17

Solarlaser Limited United Kingdom

0.00% 100.00% 100.00% 100.00% Real estate 0 0 0

Sovereign CommunityDevelopment Company

United States

0.00% 100.00% 100.00% 100.00% Holding company

36 1 37

Sovereign DelawareInvestment Corporation

United States

0.00% 100.00% 100.00% 100.00% Holding company

125 3 128

Sovereign Lease Holdings, LLC United States

0.00% 100.00% 100.00% 100.00% Financial services

127 4 130

Sovereign REIT Holdings, Inc. United States

0.00% 100.00% 100.00% 100.00% Holding company

7,006 154 7,160

Sovereign SecuritiesCorporation, LLC

United States

0.00% 100.00% 100.00% 100.00% Inactive 49 0 49

Sovereign Spirit Limited n Bermudas 0.00% 100.00% 100.00% 100.00% Leasing 0 0 0 Sterrebeeck B.V. The

Netherlands 100.00% 0.00% 100.00% 100.00% Holding

company 4,481 643 11,093

Suleyado 2003, S.L. Unipersonal

Spain 0.00% 100.00% 100.00% 100.00% Securities investment

31 4 10

Super Pagamentos e Administração de Meios Eletrônicos S.A.

Brazil 0.00% 89.85% 100.00% 100.00% Payment services

8 0 10

Superdigital HoldingCompany, S.L.

Spain 99.97% 0.03% 100.00% - Holding company

0 0 0

Suzuki Servicios Financieros, S.L.

Spain 0.00% 51.00% 51.00% 51.00% Intermediation 5 1 0

Svensk Autofnans WH 1 Designated Activity Company


Swesant SA Switzerland 0.00% 100.00% 100.00% 100.00% Holding company

0 2 0

Taxagest Sociedade Gestora de Participações Sociais, S.A.

Portugal 0.00% 99.86% 100.00% 100.00% Holding company

56 0 0

Teatinos Siglo XXI Inversiones S.A.

Chile 50.00% 50.00% 100.00% 100.00% Holding company

3,090 273 2,524

683





The Alliance & Leicester Corporation Limited

United Kingdom

0.00% 100.00% 100.00% 100.00% Real estate 13 0 13

The Best Specialty Cofee, S.L. Unipersonal

Spain 100.00% 0.00% 100.00% 100.00% Restaurants 1 0 0

Tikgi Aviation One Designated Activity Company

Ireland 100.00% 0.00% 100.00% - Renting 0 (1) 0

Time Retail Finance Limited j United Kingdom

0.00% 100.00% 100.00% 100.00% Services 0 0 0

Tonopah Solar I, LLC United States

0.00% 100.00% 100.00% 100.00% Holding company

32 (22) 10

TOPSAM, S.A de C.V. Mexico 0.00% 100.00% 100.00% 100.00% Fund management company

2 1 1

Toque Fale Serviços de Telemarketing Ltda.

Brazil 0.00% 79.52% 100.00% 100.00% Telemarketing 1 0 1

Tornquist Asesoresde Seguros S.A. j

Argentina 0.00% 99.99% 99.99% 99.99% Advisory services

0 0 0

Totta (Ireland), PLC h Ireland 0.00% 99.86% 100.00% 100.00% Finance company

450 7 450

Totta Urbe - Empresa de Administração e Construções, S.A.

Portugal 0.00% 99.86% 100.00% 100.00% Real estate 30 (4) 0

Trabajando.com ColombiaConsultoría S.A.S.

Colombia 0.00% 100.00% 100.00% - Services 1 0 0

Trabajando.comMéxico, S.A. de C.V.

Mexico 0.00% 100.00% 100.00% - Services 0 0 0

Trabajando.com Perú S.A.C. Peru 0.00% 100.00% 100.00% - Services 0 0 0 Trabalhando.com Brasil Consultoria Ltda.

Brazil 0.00% 100.00% 100.00% - Services 3 0 0

TrabalhandopontocomPortugal - Sociedade Unipessoal, Lda. c j

Portugal 0.00% 100.00% 100.00% - Services 0 0 0

Trade Maps 3 Hong Kong Limited

Hong-Kong - b - - Securitisation 0 0 0

Trade Maps 3 Ireland Limited Ireland - b - - Securitisation 0 0 0 Trans Rotor Limited United

Kingdom 100.00% 0.00% 100.00% 100.00% Renting 16 2 15

Transolver Finance EFC, S.A. Spain 0.00% 51.00% 51.00% 51.00% Leasing 45 7 17 Tuttle and Son Limited United

Kingdom 0.00% 100.00% 100.00% 100.00% Payments and

collections services

0 0 0

Universia Brasil S.A. Brazil 0.00% 100.00% 100.00% 100.00% Internet 0 0 0 Universia Chile S.A. Chile 0.00% 86.84% 86.84% 86.72% Internet 0 0 0 Universia Colombia S.A.S. Colombia 0.00% 100.00% 100.00% 100.00% Internet 0 0 0 Universia España Red de Universidades, S.A.

Spain 0.00% 89.45% 89.45% 89.45% Internet 1 0 2

Universia Holding, S.L. Spain 100.00% 0.00% 100.00% 100.00% Holding company

22 (7) 21

Universia México, S.A. de C.V. Mexico 0.00% 100.00% 100.00% 100.00% Internet 0 0 0 Universia Perú, S.A. Peru 0.00% 96.51% 96.51% 96.51% Internet 0 0 0 Universia Uruguay, S.A. Uruguay 0.00% 100.00% 100.00% 100.00% Internet 0 0 0 W.N.P.H. Gestão e Investimentos Sociedade Unipessoal, S.A.

Portugal 0.00% 100.00% 100.00% 100.00% Portfolio management

0 0 0

Wallcesa, S.A. Spain 100.00% 0.00% 100.00% 100.00% Securities investment

(942) 0 0

Wave Holdco, S.L. Spain 100.00% 0.00% 100.00% - Holding company

41 0 33

Auditors’ report






Wave SME Holdings Limited United 0.00% 100.00% 100.00% Holding 0 0 0 Kingdom company

Wave SME Technology United 0.00% 100.00% 100.00% Technology 0 0 0 Limited Kingdom services Waypoint Insurance United 0.00% 100.00% 100.00% Holding 9 0 9 Group, Inc. States company Whitewick Limited Jersey 0.00% 100.00% 100.00% Inactive 0 0 0 WIM Servicios Corporativos, Mexico 0.00% 100.00% 100.00% Advisory 0 0 0 S.A. de C.V. WTW Shipping Designated Ireland 100.00% 0.00% 100.00% Leasing 11 1 9 Activity Company

100.00%

100.00%

100.00%

100.00% 100.00%

100.00%

a. Amount per provisional books of each company as of the date of publication of these annexes, generally referred to 31 December 2018 without considering, where appropriate, the interest dividends that has been made in the year. In the carrying amount (net cost of provision), the Group´s ownership percentage has been applied to the number of each of the holders, without considering the impairment of goodwill incurred in the consolidation process. The Data from foreign companies are converted in to euros at the exchange rate at the end of the period.

b. Companies over which efective control is exercised. c. Data from the latest approved fnancial statement as at 31 December 2017. d. Data from the latest approved fnancial statement as at 31 March 2018. e. Data from the latest approved fnancial statement as at 30 June 2018. f. Data from the latest approved fnancial statement as at 30 September 2018. g. Data from the latest approved fnancial statement as at 31 July 2018. h. Data from the latest approved fnancial statement as at 30 November 2018. i. Company in process of merger or liquidation. Pending of being registered. j. Company in liquidation at 31 December 2018. k. Pursuant to Article 3 of Royal Decree 1159/2010, of 17 September approving the rules for the preparation of consolidated fnancial statements, in order

to determine voting power, the voting power relating to subsidiaries or to other persons acting in their own name but on behalf of Group companies was added to the voting power directly held by the Parent. For these purposes, the number of votes corresponding to the Parent in relation to companies over which it exercises indirect control is the number corresponding to each subsidiary holding a direct ownership interest in such companies.

l. Data from the latest fnancial statement as at 31 December 2016. m. See note 2.b.i n. Company resident in the UK for tax purposes. o. Data from the latest approved fnancial statement as at 28 February 2018. p. Data from the latest approved fnancial statement as at 31 May 2018. q. Data from the latest approved fnancial statement as at 31 January 2018. r. Data from the latest available approved fnancial statement as at 31 December 2004. s. Data from the latest approved fnancial statement as at 31 October 2018. t. Newly incorporated society, without approval of the fnancial statements. u. Company resident in Spain for tax purposes. 1. Companies issuing shares and preference shares are listed in annex III, together with other relevant information.

685

686

Appendix IISocieties of which the Group owns more than 5%g, entities associated with Grupo Santander and jointly controlled entities

% of ownership % of voting held by the Bank powerk Million eurosa

Type of Capital + Company Location Direct Indirect Year 2018 Year 2017 Activity company Assets reserves Net results

3E1 Sp. z o.o b Poland 0.00% 12.89% 21.60% 21.60% Electricity - 0 (2) 2production

Administrador Chile 0.00% 13.42% 20.00% 20.00% Payments and Associated 70 19 4Financiero de collections Transantiago S.A. services

Aegon Santander Portugal 0.00% 48.95% 49.00% 49.00% Insurance Jointly 33 14 3Portugal Não Vida controlled- Companhia de Seguros, S.A.

Aegon Santander Portugal 0.00% 48.95% 49.00% 49.00% Insurance Jointly 99 19 12Portugal Vida - controlledCompanhia de Seguros Vida, S.A.

Aeroplan - Sociedade Portugal 0.00% 19.97% 20.00% 20.00% Inactive - 0 0 0Construtora de Aeroportos, Lda. e

Aguas de Spain 36.78% 0.00% 36.78% 36.78% Food Associated 24 (40) 0Fuensanta, S.A. e

Alawwal Bank Saudi Arabia 0.00% 11.16% 11.16% 11.16% Banking - 23,746 2,916 318(consolidado) b

Alcuter 2, S.L. k Spain 37.23% 0.00% 37.23% 37.23% Technical services - - - -

Allianz Popular, S.L. Spain 40.00% 0.00% 40.00% 40.00% Insurance Associated 3,238 98 113(Consolidado)

Anekis, S.A. Spain 24.75% 24.75% 49.50% 49.50% Advertising Associated 2 2 (1)

Arena Communications Spain 20.00% 0.00% 20.00% 20.00% Advertising Associated 10 4 10Network, S.L. b

Attijariwafa Bank Morocco 0.00% 5.11% 5.11% 5.26% Banking - 43,401 4,035 601Société Anonyme (consolidado) b

Autopistas del Argentina 0.00% 14.17% 14.17% 14.17% Motorway - 28 2 5Sol S.A. b concession

Aviva Powszechne Poland 0.00% 6.75% 10.00% 10.00% Pension fund - 120 114 24Towarzystwo management Emerytalne Aviva companySantander S.A. b

Aviva Towarzystwo Poland 0.00% 6.75% 10.00% 10.00% Insurance - 3,716 350 132Ubezpieczeń na Życie S.A. b

Banco Hyundai Brazil 0.00% 44.93% 50.00% - Finance company Jointly 48 22 0Capital Brasil S.A. controlled

Banco RCI Brasil S.A. Brazil 0.00% 35.84% 39.89% 39.89% Leasing Jointly 2,572 234 50controlled

Bank of Beijing China 0.00% 20.00% 20.00% 20.00% Finance company Associated 584 94 7Consumer Finance Company

Bank of Shanghai Co., China 6.50% 0.00% 6.50% 6.48% Banking - 229,555 16,775 1,948Ltd. (consolidado) b

Benim - Sociedade Portugal 0.00% 25.77% 25.81% 25.81% Real estate Associated 11 7 0Imobiliária, S.A. b

Câmara Interbancária Brazil 0.00% 15.82% 17.61% - Payments and - 122 54 23de Pagamentos - CIP collections

services

Cantabria Capital, Spain 50.00% 0.00% 50.00% 50.00% Management of Associated 0 0 0SGEIC, S.A. venture capital

2018 Auditors’ report and consolidated annual accounts

Auditors’ report



Societies of which the Group owns more than 5%g, entities associated with Grupo Santander and jointly controlled entities



CCPT - ComprarCasa, Rede Serviços Imobiliários, S.A.

Portugal 0.00% 49.98% 49.98% 49.98% Real estate services

Jointlycontrolled

1 0 0

Centro de CompensaciónAutomatizado S.A.

Chile 0.00% 22.37% 33.33% 33.33% Payments and collections services

Associated 9 6 1

Centro para el Desarrollo, Investigación yAplicación de NuevasTecnologías, S.A. b

Spain 0.00% 49.00% 49.00% 49.00% Technology Associated 3 2 0

CNP Santander Insurance EuropeDesignated ActivityCompany

Ireland 49.00% 0.00% 49.00% 49.00% Insurance brokerage

Associated 886 96 31

CNP Santander Insurance Life Designated ActivityCompany

Ireland 49.00% 0.00% 49.00% 49.00% Insurance brokerage

Associated 1,426 203 45

CNP Santander Insurance Services Ireland Limited

Ireland 49.00% 0.00% 49.00% 49.00% Services Associated 8 2 1

Cobranza Amigable, S.A.P.I. de C.V.

Mexico 0.00% 33.78% 39.74% 39.74% Collection services Jointlycontrolled

7 0 0

Comder ContraparteCentral S.A

Chile 0.00% 7.54% 11.23% 11.23% Financial services Associated 28 14 1

CompanhiaPromotora UCI

Brazil 0.00% 25.00% 25.00% 25.00% Financial services Jointlycontrolled

1 (1) 0

Compañia Españolade Financiación de Desarrollo, Cofdes, S.A., SME b

Spain 20.18% 0.00% 20.18% - Finance company - 129 116 9

Compañía Españolade Seguros de Crédito a la Exportación, S.A., Compañía de Seguros y Reaseguros (consolidado) b

Spain 23.33% 0.55% 23.88% 21.08% Credit insurance - 803 361 23

Compañía Españolade Viviendas en Alquiler, S.A.

Spain 24.07% 0.00% 24.07% 24.07% Real estate Associated 466 271 33

Compañía paralos Desarrollos Inmobiliarios de la Ciudad de Hispalis, S.L., en liquidación l e

Spain 21.98% 0.00% 21.98% 21.98% Real estate development

- 38 (238) (86)

Condesa Tubos, S.L. b Spain 36.21% 0.00% 36.21% 30.61% Services - 162 32 (6)

Corkfoc Cortiças, S.A. b Portugal 0.00% 27.54% 27.58% - Cork industry - 3 20 0

Corridor Texas Holdings LLC (consolidado) b

United States

0.00% 29.47% 29.47% 32.61% Holding company - 205 197 (3)

Eko Energy Sp. z o.o b Poland 0.00% 13.13% 22.00% 22.00% Electricityproduction

- 0 4 (4)

Euro Automatic Cash Entidad de Pago, S.L.

Spain 50.00% 0.00% 50.00% 50.00% Payment services Associated 99 74 (18)

FAFER- EmpreendimentosUrbanísticos e de Construção, S.A. b e

Portugal 0.00% 36.57% 36.62% 36.62% Real estate - 0 1 0

687


0




FC2Egestión, S.L. Spain 50.00% 0.00% 50.00% 50.00% Environmental Jointly 0 0 management controlled

Federal Home Loan United 0.00% 6.33% 6.33% 6.33% Banking - 87,042 4,007 297 Bank of Pittsburgh b States

Federal Reserve United 0.00% 30.09% 30.09% 30.44% Banking - 87,860 1,516 22 Bank of Boston b States

(h) FIDC RCI Brasil Brazil - - - Securitisation Jointly 142 38 9 I – Financiamento controlled de Veículos c

(h) FIDC RN Brasil – Brazil - - - Securitisation Jointly 166 71 11 Financiamento controlled de Veículos

(h) Fondo de Titulización Spain - - - Securitisation Jointly 180 0 0 de Activos UCI 11 controlled





(h) Fondo de Titulización Spain - - - Securitisation Jointly 366 0 0 de Activos, controlled RMBS Prado I

(h) Fondo de Titulización Spain - - - Securitisation Jointly 105 0 0 Hipotecaria UCI 10 controlled

(h) Fondo de Titulización Spain - - - Securitisation Jointly 255 0 0 Hipotecaria UCI 12 controlled

(h) Fondo de Titulización, Spain - - - Securitisation Jointly 454 0 0 RMBS Prado II controlled

(h) Fondo de Titulización, Spain - - - Securitisation Jointly 375 0 0 RMBS Prado III controlled

(h) Fondo de Titulización, Spain - - - Securitisation Jointly 369 0 0 RMBS Prado IV controlled

(h) Fondo de Titulización, Spain - - - Securitisation Jointly 398 0 0 RMBS Prado V controlled

(h) Fondo de Titulización, Spain - - - Securitisation Jointly 427 0 0 RMBS Prado VI controlled

Fortune Auto China 0.00% 50.00% 50.00% 50.00% Finance company Jointly 2,083 219 49 Finance Co., Ltd controlled

Friedrichstrasse, S.L. Spain 35.00% 0.00% 35.00% 35.00% Real estate Associated 0 0 0

Gestora de Inteligência Brazil 0.00% 17.97% 20.00% 20.00% Collection services Jointly 76 73 (6) de Crédito S.A. controlled

Gire S.A. Argentina 0.00% 57.92% 58.33% 58.33% Payments and Associated 118 14 17 collections services

Grupo Financiero Mexico 24.99% 0.00% 24.99% 24.99% Financial services Associated 2,589 211 2 Ve Por Más, S.A. de C.V. (consolidado)

(h) HCUK Auto Funding United - - - Securitisation Jointly 0 0 2016-1 Ltd e Kingdom controlled

(h) HCUK Auto Funding United - - - Securitisation Jointly 168 0 0 2017-1 Ltd Kingdom controlled

0

Auditors’ report






HCUK Auto Funding 2017-2 Ltd

United Kingdom

- (h) - - Securitisation Jointlycontrolled

615 0 0

Healthy NeighborhoodsEquity Fund I LP b

United States

0.00% 22.37% 22.37% - Real estate - 15 15 0

Hyundai CapitalUK Limited

United Kingdom

0.00% 50.01% 50.01% 50.01% Finance company Jointlycontrolled

3,206 155 36

Imperial Holding S.C.A. e i

Luxembourg 0.00% 36.36% 36.36% 36.36% Securities investment

- 0 (113) 0

Imperial Management Luxembourg S.à r.l. m e

0.00% 40.20% 40.20% 40.20% Holding company - 0 0 0

Inbond Inversiones 2014, S.L. b

Spain 40.00% 0.00% 40.00% 40.00% Financial studies Jointlycontrolled

225 225 1

Indice Iberoamericano Spain de Investigación yConocimiento, A.I.E.

0.00% 51.00% 51.00% 51.00% Information system

Jointlycontrolled

2 (3) (1)

Inmo Alemania Gestión de Activos

Spain 0.00% 20.00% 20.00% 20.00% Holding company - 40 19 3

Inmobiliarios, S.A.

Inverlur Aguilas I, S.L. Spain 50.00% 0.00% 50.00% 50.00% Real estate Jointlycontrolled

0 0 0

Inverlur Aguilas II, S.L. Spain 50.00% 0.00% 50.00% 50.00% Real estate Jointlycontrolled

1 1 0

Inversiones en Resorts Spain Mediterráneos, S.L. e

0.00% 43.28% 43.28% 43.28% Real estate Associated 0 (2) (1)

Inversiones Ibersuizas, S.A. b

Spain 25.42% 0.00% 25.42% 25.42% Venture capital - 26 22 4

Inversiones ZS Chile 0.00% 49.00% 49.00% 49.00% Securities and real Associated 326 326 62 América Dos Ltda estate investment

Inversiones ZS Chile 0.00% 49.00% 49.00% 49.00% Securities and real Associated 429 319 65 América SpA estate investment

Invico S.A. b Poland 0.00% 14.23% 21.09% 21.09% Trade - 2 (4) 0

J.C. Flowers I L.P. b United States

0.00% 10.60% 4.99% 4.99% Holding company - 2 2 (1)

J.C. Flowers II-A L.P. (consolidado) b

Canada 0.00% 69.40% 4.43% 4.43% Holding company - 82 74 8

JCF AIV P L.P. b Canada 0.00% 7.67% 4.99% 4.99% Holding company - 68 60 9

JCF BIN II-A d Mauritania 0.00% 69.52% 4.43% 4.43% Holding company - 1 2 (1)

Jupiter III L.P. b Canada 0.00% 96.45% 4.99% 4.99% Holding company - 129 133 (4)

Loop Gestão de Pátios S.A.

Brazil 0.00% 32.08% 35.70% - Business services Jointlycontrolled

8 7 (1)

Luri 3, S.A. Spain 10.00% 0.00% 10.00% 10.00% Real estate Jointlycontrolled

1 0 0

Lusimovest Fundo de Investimento

Portugal 0.00% 25.73% 25.77% 25.77% Investment fund Associated 106 98 2

Imobiliário

Massachusetts United Business Development States Corp. (consolidado) b

0.00% 21.60% 21.60% 21.60% Finance company - 66 9 (1)

MB Capital Fund IV, LLC b

United States

0.00% 23.94% 23.94% 23.94% Finance company - 15 9 1

Merlin Properties,SOCIMI, S.A. (consolidado) b

Spain 16.88% 5.60% 22.48% 22.57% Real estate Associated 12,005 4,623 1,100

689





Metrovacesa, S.A. Spain 31.94% 17.46% 49.40% 71.45% Real estate Associated 2,547 2,397 (39) (consolidado) b development

New PEL S.à r.l. b Luxembourg 0.00% 7.67% 0.00% 0.00% Holding company - 69 68 0

NIB Special Canada 0.00% 99.55% 4.99% 4.99% Holding company - 49 42 7 Investors IV-A LP b

NIB Special Investors Canada 0.00% 93.42% 4.99% 4.99% Holding company - 15 13 2 IV-B LP b

Niuco 15, S.L. k Spain 37.23% 0.00% 37.23% - Technical services - - - -

Norchem Holdings Brazil 0.00% 19.54% 29.00% 29.00% Holding company Associated 28 21 1 e Negócios S.A.

Norchem Participações Brazil 0.00% 44.93% 50.00% 50.00% Securities Jointly 18 11 0 e Consultoria S.A. company controlled

Nowotna Farma Poland 0.00% 12.96% 21.73% 21.60% Electricity - 98 11 0 Wiatrowa Sp. z o.o b production

Odc Ambievo Brazil 0.00% 18.14% 20.19% 20.19% Technology - 4 4 0 Tecnologia e InovacaoAmbiental, Industria e Comercio de Insumos Naturais S.A.

Olivant Limited Guernsey 0.00% 10.39% 10.39% 10.39% Holding company - 18 14 0 (consolidado) m

Operadora de Activos Mexico 0.00% 49.98% 49.98% 49.98% Finance company Associated 0 0 0 Alfa, S.A. De C.V. e

Operadora de Activos Mexico 0.00% 49.99% 49.99% 49.99% Finance company Associated 0 0 0 Beta, S.A. de C.V.

Operadora de Tarjetas Chile 0.00% 8.66% 12.90% 12.90% Cards Associated 44 19 4 de Crédito Nexus S.A.

Parque Solar Spain 92.00% 0.00% 25.00% 25.00% Electricity Jointly 30 0 0 Páramo, S.L. production controlled

Payever GmbH Germany 0.00% 10.00% 10.00% 10.00% Software Associated 2 1 1

POLFUND - Poland 0.00% 33.74% 50.00% 50.00% Management Associated 25 20 1 Fundusz Poręczeń Kredytowych S.A.

Prisma Medios Argentina 0.00% 18.39% 18.52% 17.47% Business services Associated 440 60 24 de Pago S.A.

Procapital - Portugal 0.00% 39.96% 40.00% 40.00% Real estate - 4 13 0 Investimentos Imobiliários, S.A. b e

Project Quasar Spain 49.00% 0.00% 49.00% - Finance company Associated 11,571 2,926 1,023 Investments 2017, S.L.

PSA Corretora Brazil 0.00% 44.93% 50.00% 50.00% Insurance Jointly 1 0 0 de Seguros e controlled Serviços Ltda.

PSA Insurance Malta 0.00% 50.00% 50.00% 50.00% Insurance Jointly 158 51 12 Europe Limited controlled

PSA Life Insurance Malta 0.00% 50.00% 50.00% 50.00% Insurance Jointly 72 9 8 Europe Limited controlled

PSA UK Number 1 plc United 0.00% 50.00% 50.00% 50.00% Leasing Associated 5 5 Kingdom

Redbanc S.A. Chile 0.00% 22.44% 33.43% 33.43% Services Associated 26 10

Redsys Servicios de Spain 20.00% 0.08% 20.08% 20.00% Cards Associated 137 41 Procesamiento, S.L.b

Retama Real Spain 0.00% 50.00% 50.00% 50.00% Services Jointly 45 (40) (2) Estate, S.A. controlled

0

1

9

Auditors’ report






Rías Redbanc, S.A. Uruguay 0.00% 25.00% 25.00% 25.00% Services - 3 1 0

Saite, S.A. Spain 50.00% 0.00% 50.00% 50.00% Real estate Jointlycontrolled

29 18 2

Santander Auto S.A. Brazil 0.00% 44.93% 50.00% - Insurance Associated 3 3 0

Santander Aviva Poland 0.00% 33.06% 49.00% 49.00% Insurance Associated 239 12 13 TowarzystwoUbezpieczeń na Życie S.A.

Santander Aviva Poland 0.00% 33.06% 49.00% 49.00% Insurance Associated 142 37 16 TowarzystwoUbezpieczeń S.A.

Santander Generales Segurosy Reaseguros, S.A.

Spain 0.00% 49.00% 49.00% 49.00% Insurance Jointlycontrolled

355 74 8

Santander Vida Seguros y Reaseguros, S.A.

Spain 0.00% 49.00% 49.00% 49.00% Insurance Jointlycontrolled

322 89 29

Saturn Japan II Sub C.V. b

The Netherlands

0.00% 69.30% 0.00% 0.00% Holding company - 36 35 1

Saturn JapanIII Sub C.V. b

The Netherlands

0.00% 72.72% 0.00% 0.00% Holding company - 171 171 0

Sepacon 31, S.L. k Spain 37.23% 0.00% 37.23% 37.23% Technical services - - - -

Servicios de Chile 0.00% 7.55% 11.25% 11.25% Services Associated 32 14 1 Infraestructura de Mercado OTC S.A

SIBS SGPS, S.A. b Portugal 0.00% 16.54% 16.56% 16.56% Portfolio - 176 95 25 management

Sistema de Tarjetas y Medios de Pago, S.A.

Spain 18.11% 0.00% 18.11% - Payment services Associated 377 4 0

Sistemas Técnicos de Encofrados, S.A. (consolidado) b

Spain 27.15% 0.00% 27.15% 25.15% Building materials - 66 2 (16)

Sociedad Conjuntapara la Emisión y Gestión de Medios

Spain 42.50% 0.00% 42.50% 42.50% Payment services Jointlycontrolled

105 29 1

de Pago, E.F.C., S.A.

Sociedad de Garantía Recíproca de Santander, S.G.R. b

Spain 25.50% 0.23% 25.73% 25.50% Financial services - 16 11 0

Sociedad de Gestión de Activos Procedentes

Spain 22.21% 0.00% 22.21% 22.22% Financial services - 40,145 2,620 (565)

de la Reestructuración Bancaria, S.A. b

Sociedad Españolade Sistemas de

Spain 22.24% 0.00% 22.24% 22.24% Payment services - 10 6 1

Pago, S.L. b

Sociedad Interbancaria de Depósitos de Valores S.A.

Chile 0.00% 19.66% 29.29% 29.29% Custody Associated 6 5 1

Solar Energy Capital Europe S.à r.l. (consolidado) b

Luxembourg 0.00% 33.33% 33.33% 33.33% Holding company Jointlycontrolled

11 1 0

Stephens Ranch WindEnergy Holdco LLC (consolidado) b

United States


- 248 246 (5)

Syntheo Limited United Kingdom

0.00% 50.00% 50.00% 50.00% Payment services Jointlycontrolled

3 4 (1)

691





Tbforte Segurança Brazil 0.00% 17.80% 19.81% 19.81% Security Associated 87 84 (16) e Transporte de Valores Ltda.

Tbnet Comércio, Brazil 0.00% 17.80% 19.81% 19.81% Telecommunications Associated 71 86 (16) Locação e Administração Ltda.

Tecnologia Brazil 0.00% 17.80% 19.81% 19.81% Atm Associated 433 106 (13) Bancária S.A.

Teka Industrial, S.A. Spain 0.00% 9.42% 9.42% 9.42% Household - 571 154 (5) (consolidado) b appliances

Testa Residencial, Spain 0.79% 17.64% 18.43% 38.74% Real estate Associated 2,356 1,324 70 SOCIMI, S.A. (consolidado) b

The OneLife Holding Luxembourg 0.00% 5.90% 0.00% 0.00% Holding company - 5,398 44 6 S.à r.l. (consolidado) b

Tonopah Solar United 0.00% 26.80% 26.80% 26.80% Holding company Jointly 547 190 (49) Energy Holdings I, States controlled LLC (consolidado)

Trabajando.com Chile 0.00% 33.33% 33.33% 33.33% Services Associated 2 (1) 0 Chile S.A.

Transbank S.A. Chile 0.00% 16.78% 25.00% 25.00% Cards Associated 1,138 73 16

U.C.I., S.A. Spain 50.00% 0.00% 50.00% 50.00% Holding company Jointly 291 72 (2) controlled

UCI Hellas Grecia 0.00% 50.00% 50.00% 50.00% Financial services Jointly 1 0 0 Credit and Loan controlled Receivables ServicingCompany S.A.

UCI Holding Brasil Ltda Brazil 0.00% 50.00% 50.00% 50.00% Holding company Jointly 2 0 controlled

UCI Mediação Portugal 0.00% 50.00% 50.00% 50.00% Insurance Jointly 0 0 0 de Seguros brokerage controlled Unipessoal, Lda.

UCI Servicios para Spain 0.00% 50.00% 50.00% 50.00% Real estate Jointly 2 0 0 Profesionales services controlled Inmobiliarios, S.A.

Unicre-Instituição Portugal 0.00% 21.83% 21.86% 21.86% Finance company Associated 347 87 20 Financeira de Crédito, S.A.

Unión de Créditos Spain 0.00% 50.00% 50.00% 50.00% Mortgage credit Jointly 12,343 386 11 Inmobiliarios, S.A., EFC company controlled

Uro Property Holdings Spain 14.95% 0.00% 14.95% 14.95% Real estate - 1,636 201 23 SOCIMI, S.A. b

VCFS Germany GmbH Germany 0.00% 50.00% 50.00% 50.00% Marketing Jointly 0 0 0 controlled

(h) Venda de Veículos Brazil - - - Securitisation Jointly 136 62 5 Fundo de Investimento controlled em Direitos Creditórios c

Webmotors S.A. Brazil 0.00% 62.90% 70.00% 70.00% Services Jointly 44 24 10 controlled

Zurich Santander Brazil 0.00% 48.79% 48.79% 48.79% Insurance Associated 12,455 605 232 Brasil Seguros e Previdência S.A.

Zurich Santander Brazil 0.00% 48.79% 48.79% 48.79% Insurance Associated 176 (2) 42 Brasil Seguros S.A.

Zurich Santander Spain 0.00% 49.00% 49.00% 49.00% Holding company Associated 1,096 936 159 Holding (Spain), S.L.

0

https://Trabajando.com

Auditors’ report






Zurich Santander Holding Dos (Spain), S.L.

Spain 0.00% 49.00% 49.00% 49.00% Holding company Associated 547 384 163

Zurich Santander Spain Insurance América, S.L.

49.00% 0.00% 49.00% 49.00% Holding company Associated 1,874 1,510 361

Zurich Santander Seguros Argentina S.A. j

Argentina 0.00% 49.00% 49.00% 49.00% Insurance Associated 36 7 9

Zurich Santander Chile 0.00% 49.00% 49.00% 49.00% Insurance Associated 249 33 46 Seguros de Vida Chile S.A.

Zurich Santander Chile 0.00% 49.00% 49.00% 49.00% Insurance Associated 184 37 13 Seguros GeneralesChile S.A.

Zurich Santander Mexico 0.00% 49.00% 49.00% 49.00% Insurance Associated 498 38 92 Seguros México, S.A.

Zurich Santander Seguros Uruguay, S.A.

Uruguay 0.00% 49.00% 49.00% 49.00% Insurance Associated 18 9 2

a. Amount per provisional books of each company as of the date of publication of these annexes, generally referred to 31 December 2018, unless stated otherwise because the Annual Accounts are pending to be formulated. The data from foreign companies are converted into euros at the exchange rate at the end of the period.

b. Data from the latest approved fnancial statements as at 31 December 2017. c. Data from the latest approved fnancial statements as at 31 May 2018. d. Data from the latest available approved fnancial statements as at 30 September 2017. e. Company in liquidation to 31 December 2018. f. Pursuant to Article 3 of Royal Decree 1159/2010, of 17 September approving the rules for the preparation of consolidated fnancial statements, in

order to determine voting power, the voting power relating to subsidiaries or to other persons acting in their own name but on behalf of Group companies was added to the voting power directly held by the Parent, For these purposes, the number of votes corresponding to the Parent in relation to companies over which it exercises indirect control is the number corresponding to each subsidiary holding a direct ownership interest in such companies.

g. Excluding the Group companies listed in Appendix I and those of negligible interest with respect to the fair presentation that the consolidated fnancial statements must express (pursuant to Article 48 of the Spanish Commercial Code and Article 260 of the Spanish Limited Liability Companies Law).

h. Companies over which the non-subsidiary investee of the Group exercises efective control i. Data from the latest available approved fnancial statements as at 31 October 2016. j. Data from the latest available approved fnancial statements as at 30 June 2018. k. Recent create company without approved fnancial statements available. l. Data from the latest approved fnancial statements as at 30 November 2016. m. Data from the latest approved fnancial statements as at 31 December 2016.

693


0

0

Appendix III Issuing subsidiaries of shares and preference shares

% of ownership held by the Bank Million of eurosa

Company Location Direct Indirect Activity Capital Reservations Cost of

preferred Net

results

Emisora Santander Spain, Spain 100.00% 0.00% Finance 2 0 0 S.A. Unipersonal company

Santander UK (Structured United 0.00% 100.00% Finance 0 0 0 Solutions) Limited Kingdom company

Sovereign Real Estate United States 0.00% 100.00% Finance 5,005 (3,115) 75 Investment Trust company

a. Amounts per provisional books of each company as at 31 December 2018, converted into euros (in the case of foreign companies) at the year-end exchange rates.

Appendix IV Notifcations of acquisitions and disposals of investments in 2018 (Article 155 of the Spanish Limited Liability Companies Law and Article 125 of the Spanish Securities Market Law).

COMMUNICATION OF SIGNIFICANT SHARES MADE TO CNMV DURING 2018:

On the 29-01-2018, the communication made by Banco Santander, S.A. was registered in the CNMV. They informed that the Group´s shares in NYESA VALORES CORPORACIÓN had decreased to 6.407% (<10%) on the 18.01.2018.

NOTE: After the increase in share capital executed by NYESA, the percentage of Banco Santander, S.A. (given Banco Popular Español, S.A.U) in this company has fallen from 13.223% to 6.407%, exceeding the 10% threshold.

On the 12-02-2018, the communication made by Banco Santander, S.A., was registered in the CNMV, where they informed that the Group’s shares in METROVACESA, S.A. had increase to 53.311% (51.497% of the voting rights attributed to shares and 1.814% of the voting rights through fnancial instruments) (>50%) on the 06.02.2018 as a result of the company’s admission to the Stock Exchange.

On the 23-03-2018, the communication made by Banco Santander, S.A. was registered in the CNMV, where they informed that the Group’s shares in METROVACESA, S.A. dropped to 49.362% (<50%) on the 22.03.2018.

On the 28-03-2018, the communication made by Banco Santander, S.A. was registered in the CNMV, where they informed that the Group’s shares in NYESA VALORES CORPORACIÓN had decreased to 4.468% (<5%) on the 21.03.2018.

On the 02-04-2018, the communication made by Banco Santander, S.A. was registered in the CNMV, where they informed that the Group’s shares in NYESA VALORES CORPORACIÓN had decreased to 2.939% (<3%) on the 28.03.2018.

On the 04-10-2018, the communication made by Banco Santander, S.A. was registered in the CNMV, in which it was reported that the purpose of this communication was to update the information referring to the Banco Santander’s, S.A stock options in ABENGOA, S.A., after the merger by absorption of Banco Popular Español, S.A.U. by Banco Santander, S.A. As a result of the merger, the shares held by Banco Popular Español, S.A.U. became direct shares of Banco Santander, S.A. Therefore, Banco Santander’s shares in ABENGOA, S.A. amounted to 4.975% on the 28.09.2018.

On the 04-10-2018, the communication made by Banco Santander, S.A. was registered in the CNMV, informing that the purpose of this communication was to update the information referring to the Banco Santander’s, S.A stock options in METROVACESA, S.A., after the merger by absorption of Banco Popular Español, S.A.U. by Banco Santander, S.A. As a result of the merger, the shares held by Banco Popular Español, S.A.U. became direct shares of Banco Santander, S.A. Therefore, Banco Santander’s shares in METROVACESA, S.A. amounted to 49.362% on the 28.09.2018.

On the 04-10-2018, the communication made by Banco Santander, S.A. was registered in the CNMV, informing that the purpose of this communication was to update the information referring to the Banco Santander’s, S.A stock options in COMPAÑIA ESPAÑOLA DE VIVIENDAS EN ALQUILER, S.A. (CEVASA), after the merger by absorption of Banco Popular Español, S.A.U. by Banco Santander, S.A. As a result of the merger, the shares held by Banco Popular Español, S.A.U. became direct shares of Banco Santander, S.A. Therefore, Banco Santander’s shares in CEVASA, S.A. amounted to 24.068% on the 28.09.2018.

On the 30-10-2018, the communication made by Banco Santander, S.A., BANCO BILBAO VIZCAYA ARGENTARIA, S.A., BANKIA, S.A., CAIXABANK, S.A., KUTXABANK, S.A., LIBERBANK, S.A., and BANCO DE SABADELL, S.A., (concerted action) in which it was reported

40

that Group Santander’s S.A stake in GENERAL DE ALQUILER DE MAQUINARIA, S.A., was 63.045% on the 28.09.2018.

Auditors’ report



NOTE: Update of the information on a concerted action of the Entities included in this Parasocial Agreement, with the sole purpose of updating the information existing in the CNMV on the participation of the Entities members of the Concerted Action in GAM as a result of the merger by absorption of BANCO POPULAR ESPAÑOL, S.A.U by Banco Santander, S.A.

Appendix V Other information on the Group’s banks

A) Following is certain information on the share capital of the Group’s main banks based on their total assets.

1. Santander UK plc

a) Number of fnancial equity instruments held by the Group. At 31 December 2018, the Company was a subsidiary of Banco Santander, S.A. and Santusa Holding, S.L.

On 12 November 2004 Banco Santander, S.A. acquired the then entire issued ordinary share capital of 1,485,893,636 Ordinary shares of 10p. each. On 12 October 2008 a further 10 billion Ordinary shares of 10p. each were issued to Banco Santander, S.A. and an additional 12,631,375,230 Ordinary shares of 10p. each were issued to Banco Santander, S.A. on 9 January on 2009. On 3 August 2010, 6,934,500,000 ordinary shares of 10p. each were issued to Santusa Holding, S.L. With efect from 10 January 2014, Santander UK Group Holdings Limited, a subsidiary of Banco Santander, S.A. and Santusa Holding S.L., became the benefcial owner of 31,051,768,866 of 10p. each, being the entire issued Ordinary share capital of the Company, by virtue of a share exchange agreement between Santander UK Group Holdings Limited, Banco Santander, S.A. and Santusa Holding, S.L. Santander UK Group Holdings Limited became the legal owner of the entire issued Ordinary share capital of the Company on 1 April 2014 and on 25 March 2015 became a public limited company and changed its name from Santander UK Group Holdings Limited to Santander UK Group Holdings plc. In addition to this, there are 325,000,000 Non-Cumulative Non-Redeemable 10.375% and 8.625% Sterling Preference Shares of GBP 1.00 each and 13,780 Series A Fixed (6.222%)/Floating Rate Non-Cumulative Callable Preference Shares of GBP 1.00 each. The legal and benefcial title to the entire issued Preference share capital is held by third parties and is not held by Banco Santander, S.A.

b) Capital increases in progress At 31 December 2018, there were no approved capital increases.

c) Share capital authorised by the shareholders at the general meeting The shareholders at the Annual General Meeting held on 28 March 2018 resolved to unconditionally authorise the company to carry out the following repurchases of share capital:

(1) To buy back its own 8.625% Sterling Preference shares on the following terms: (a) The Company may buy back up to 125,000,000 8.625% Sterling

Preference shares;

(b) The lowest price which the Company can pay for 8.625% Sterling Preference shares is 75% of the average of the market values of the preference shares for fve business days before the purchase is made; and

(c) The highest price (not including expenses) which the Company can pay for each 8.625% Sterling Preference share is 125% of the average of the market values of the preference shares for fve business days before the purchase is made.

This authority began on 28 March 2018 and will end on the conclusion of the next Annual General Meeting of the Company. The Company may agree, before this authorisation ends, to buy back its own 8.625% Sterling Preference shares even though the purchase may be completed after this authorisation ends.

(2) To buy back its own 10.375% Sterling Preference shares on the following terms: (a) The Company may buy up to 200,000,000 10.375% Sterling

Preference shares;

(b) The lowest price which the Company can pay for 10.375% Sterling Preference shares is 75% of the average of the market values of the preference shares for fve business days before the purchase is made; and

(c) The highest price (not including expenses) which the Company can pay for each 10.375% Sterling Preference share is 125% of the average of the market values of the preference shares for fve business days before the purchase is made.

This authority began on 28 March 2018 and will end on the conclusion of the next Annual General Meeting of the Company. The Company may agree, before this authorisation ends, to buy back its own 10.375% Sterling Preference shares even though the purchase may be completed after this authorisation ends.

(3) To buy back its own Series A Fixed (6.222%)/ Floating Rate Non-Cumulative Callable Preference Shares on the following terms: (a) The Company may buy up to 13.780 Series A Fixed(6.222%)/

Floating Rate Non-Cumulative Callable Preference Shares;

(b) The lowest price which the Company can pay for Series A Fixed(6.222%)/Floating Rate Non-Cumulative Callable Preference Shares is 75% of the average of the market values of the preference shares for fve business days before the purchase is made; and

(c) The highest price (not including expenses) which the Company can pay for each Series A Fixed (6.222%)/Floating Rate Non-Cumulative Callable Preference Shares is 125% of the average of the market values of the preference shares for fve business days before the purchase is made.

This authority began on 28 March 2018 and will end on the conclusion of the next Annual General Meeting of the Company. The Company may agree, before this authorisation ends, to buy back its own Series A Fixed (6.222%)/Floating Rate Non-Cumulative

695


Callable Preference Shares even though the purchase may be completed after this authorisation ends.

d) Rights on founder’s shares, “rights” bonds, convertible debentures and similar securities or rights

Not applicable.

e) Specifc circumstances that restrict the availability of reserves Not applicable.

f) Non-Group entities which hold, directly or through subsidiaries, 10% or more of equity Not applicable.

g) Quoted equity instruments The preference share capital of Santander UK plc is traded on the London Stock Exchange under the following details:

• 10.375% Sterling Preference – ISIN: GB0000064393

• 8.625% Sterling Preference – ISIN: GB0000044221

• Series A Fixed (6.222%) / Floating Rate Non-Cumulative Callable Preference Shares – ISIN: XS0502105454

2. Abbey National Treasury Services plc

a) Number of fnancial equity instruments held by the Group The Group holds ordinary shares amounting to GBP 249,998,000 through Santander UK Group Holdings plc (249,998,000 ordinary shares with a par value of GBP 1 each).

The Group also holds 1,000 tracker shares (shares without voting rights but with preferential dividend rights) amounting to GBP 1,000 and 1,000 B tracker shares amounting to GBP 1,000 through Santander UK Group Holdings plc, both with a par value of GBP 1 each.

b) Capital increases in progress No approved capital increases are in progress.

c) Capital authorised by the shareholders at the general meeting Not applicable.

d) Rights on founder’s shares, “rights” bonds, convertible debentures and similar securities or rights Not applicable.



g) Quoted equity instruments Not applicable.

3. Banco Santander (Brasil) S.A.

a) Number of fnancial equity instruments held by the Group The Group holds 3,440,170,512 ordinary shares and 3,273,507,089 preference shares through Banco Santander, S.A. and its subsidiaries Sterrebeeck B.V., Grupo Empresarial Santander, S.L., Banco Santander, S.A. and Banco Madesant – Sociedade Unipessoal, S.A.

The shares composing the share capital of Banco Santander (Brasil) S.A. have no par value and there are no pending payments. At 2018 year-end, the bank’s treasury shares consisted of 13,316,502 ordinary shares and 13,316,502 preferred shares, with a total of 26,633,004 shares.

In accordance with current Bylaws (Article 5.7), the preference shares do not confer voting rights on their holders, except under the following circumstances:

a) In the event of transformation, merger, consolidation or spin-of of the company.

b) In the event of approval of agreements between the company and the shareholders, either directly, through third parties or other companies in which the shareholders hold a stake, provided that, due to legal or bylaw provisions, they are submitted to a general meeting.

c) In the event of an assessment of the assets used to increase the company’s share capital.

The General Assembly may, at any moment decide to convert the preference shares into ordinary shares, establishing a reason for the conversion.

However, the preference shares do have the following advantages (Article 5.6):

a) Their dividends are 10% higher than those distributed to ordinary shares.

b) Priority in the dividends distribution.

c) Participation, on the same terms as ordinary shares, in capital increases resulting from the reserves and profts capitalization and in the distribution of bonus shares arising from the capitalization of retained earnings, reserves or any other funds.

d) Priority in the reimbursement of capital in the event company’s dissolution.

e) In the event of a public ofering due to a change in control of the company, the holders of preferred shares are guaranteed the right to sell the shares at the same price paid for the block of shares transferred as part of the change of control, i.e. they are treated the same as shareholders with voting rights.

b) Capital increases in progress

Auditors’ report



No approved capital increases are in progress.

c) Capital authorised by the shareholders at the general meeting The company is authorised to increase share capital, subject to approval by the Board of Directors, up to a limit of 9,090,909,090 ordinary shares or preferred shares, and without need to maintain any ratio between any of the diferent classes of shares, provided they remain within the limits of the maximum number of preferred shares provided in Law.

As of 31 December 2018, the share capital consists of 7,498,531,051 shares (3,818,695,031 ordinary shares and 3,679,836,020 preferred shares).

d) Rights on founder’s shares, “rights” bonds, convertible debentures and similar securities or rights At the general meeting held on 21 December 2016 the shareholders approved the rules relating to the deferred remuneration plans for the directors, management and other employees of the company and of companies under its control. Shares delivery is linked to achievement of certain targets.

e) Specifc circumstances that restrict reserves availability The only restriction on the availability of Banco Santander (Brasil) S.A.’s reserves is connected to the requirement for the legal reserve formation (restricted reserves), which can only be used to ofset losses or to increase capital.

The legal reserve requirement is set-forth in Article 193 of the Brazilian Corporations Law, which establishes that before allocating profts to any other purpose, 5% of profts must be transferred to the legal reserve, which must not exceed 20% of the company’s share capital.


g) Listed capital instruments All the shares are listed on the São Paulo Stock Exchange (BM&FBOVESPA; B3 – Brasil, Bolsa, Balcão) and the shares deposit certifcates (American Depositary Receipts - ADR) are listed on the New York Stock Exchange (NYSE).

4. Santander Bank, National Association

a) Number of fnancial equity instruments held by the Group At 31 December 2018, the Group held 530,391,043 ordinary shares that carry the same voting and dividend acquisition rights over Santander Holdings USA, Inc. (SHUSA). This holding company and Independence Community Bank Corp. (ICBC) hold 1,237 ordinary shares with a par value of USD 1 each, which carry the same voting rights. These shares constitute all the share capital of Santander Bank, National Association (SBNA). SHUSA holds an 80.84% ownership interest in SBNA, and the remaining 19.16% belongs to ICBC. ICBC is wholly owned by SHUSA. There is no shareholders’ meeting for the ordinary shares of SBNA.

b) Capital increases in progress At 31 December 2018 there were no approved capital increases.






5. Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México

a) Number of fnancial instruments of capital held by the group. In 2018 the merger process of Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México, as merging Company, with GRUPO FINANCIERO SANTANDER MEXICO, S.A.B. DE C.V., as merged Company was fnalised, as well as the Constitution of the new GRUPO FINANCIERO SANTANDER MEXICO, S.A. DE C.V.; the parent group through Grupo Financiero Santander Mexico, S.A. de C.V. (the ‘fnancial group’) and Santander Global Facilities, S.A. de C.V. (Mexico), own 5,087,801,602 shares which constitute the 74.97% of the share capital of the Bank.

b) Capital increases in course. There aren´t any.

c) Capital authorised by the Shareholders Meeting. The a capital stock of the Society is 28,117,661,554.00 mexican pesos (twenty eight thousand one hundred seventeen million six hundred sixty one thousand fve hundred ffty four Mexican pesos) represented by a total of 7,436,994,357 (seven thousand four hundred thirty six million nine hundred ninety four thousand three hundred ffty seven) stocks with a nominal value of 3.780782962 mexican pesos (three Mexican pesos 780782962/1000000000) each one; divided in 3,796,120,213 (three thousand seven hundred ninety six million one hundred and twenty thousand two hundred and thirteen) stocks of “F” Series and 3,640,874,144 (three thousand six hundred and forty million eight hundred seventy four thousand on hundred forty four) stocks of “B” Series. The capital stock is constituted as follows:

697

https://28,117,661,554.00


• Paid-in and subscribed capital of the Society is 25,660,152,629.00 mexican pesos (twenty fve thousand six hundred sixty million one hundred ffty two thousand six hundred twenty nine Mexican pesos) represented by a total of 6,786,994,357 (six thousand seven hundred eighty six million nine hundred ninety four thousand three hundred and ffty seven) stocks with a nominal value of 3.780782962 mexican pesos (three Mexican pesos 780782962/1000000000) each one; divided in 3,464,309,145 (three thousand four hundred sixty four million three hundred and nine thousand one hundred forty fve) stocks of “F” Series and 3,322,685,212 (three thousand three hundred twenty two million six hundred eighty fve thousand two hundred and twelve) stocks of “B” Series.

• The authorised capital stock of the Society is 2,457,508,925.00 mexican pesos., Two thousand four hundred ffty seven million fve hundred and eight thousand nine hundred and twenty fve Mexican pesos), represented by a total of 650,000,000 (six hundred and ffty million) stocks with a nominal value of 3.780782962 mexican pesos (three Mexican pesos 780782962/1000000000) each one; divided in 331,811,068 (three hundred thirty one million eight hundred eleven thousand and sixty eight) would correspond to the “F” series and 318,188,932

Instrument Type Term Amount Available

Broadcast program of bank bonds and Revolving 19-feb-21 55,000 million Mexican pesos $35,514 million certifcates of deposit of money in term mexican pesos

Con t.c. fx according to Banxico 10/jan/ 2019

Private banking structured bonds Act Not Revolving* 19-apr-32 20,000 million Mexican pesos $4,936 million mexican pesos

Structured bonds without public ofering 16-feb-32 10,000 million me $10,000 million Mexican xican pesos mexican pesos

Senior Bonds Not Revolving 09-nov-22 1.000 thousand million N/A american dollars

Capital Notes Not Revolving 30-jan-24 77.09 thousand million N/A American dollars (Tier 2 capital)** **Carry out the call at 30 January 2019.

Capital Notes AT1 Not Revolving perpetual 500 million American dollars N/A

Capital Notes Not Revolving 1-oct-2028 1,300 millon American dollars N/A (Tier 2 capital)

(three hundred eighteen million one hundred eighty eight thousand nine hundred and thirty two) to “B” Series are kept in the treasury of the Society.

d) Rights incorporated into parts of founder, bonds or debt, convertible obligations and securities or similar rights. (i) The Board of Directors on its meeting held on October 22, 2015,

was updated regarding the situation of the debt issuance of Banco Santander Mexico, S.A. Institución de Banca Múltiple, Grupo Financiero Santander Mexico, which had been previously ratifed in the session held on October 17, 2013, in order to issue debt for the amount of 6,500 million dollars in local or international markets, for a maximum period of 15 years, senior or subordinated debt and includes debt instruments qualifying for purposes of capital in accordance with the legislation in force, which can be implemented individually or through several issue programs.

The approved debt issuance of Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México is currently composed as follows:

* The issuance of structured private banking bonds isn’t revolving. Once placed the amount laid down in the corresponding brochure a new certifcate is issued by the authorised amount.

https://2,457,508,925.00

https://25,660,152,629.00

(ii) The Board of Directors on its meeting held on January 27, 2011 approved the general conditions for the senior debt issue in international markets. On October 18, 2012 such issue was approved for the amount of 500 and 1000 million american dollars, for a term of 5 to 10 years. The issue was approved with the objective of obtaining resources to fnance the increase in business assets and the liquidity of the Bank. Under these agreements adopted by the Board of Directors, the debt was issued for an amount of 1,000 million american dollars on November 9, 2012.

Auditors’ report



(iii) On December 27, 2013 Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México issued subordinated notes (subordinated notes 2013) for a total amount of 1.300.000.000 american dollars, in accordance with the capital requirements established in the Basilea III criteria for complementary capital/ Tier 2 at a rate of 5,95% with redemption date of January, 30 2024. The controlling shareholder, Banco Santander, S.A., agreed to buy 975.000.000 american dollars of such notes which correspond to the 75% of the notes.

Such notes were ofered through a private ofering only to qualifed institutional buyers, in accordance with Rule 144A of the U.S. Securities Act of 1933 and it´s modifcations, and outside the U.S. under the Regulation S of the Market Law.

The issue was approved with the objective of increase the efciency of the capital of the Institution, and to adequate its capital profle to its main peers, as well as to increase the cost efectiveness of resources with the same capital strength and capacity for growth in risk-weighted assets.

(iv) On the General Shareholder´s meeting, held on May 14, 2012, it was approved to ratify the agreement adopted by the Extraordinary Shareholder´s meeting held on 17 March 2009, in which it was agreed to create a collective credit for the amount of 1,000,000,000 american dollars through the issue of subordinated, non-preferential, non-guaranteed and non-convertible obligations. So far the issue has not been made.

(v) The Board of Director on its meeting held on October 27, 2016 approved the issuance in Mexico of debt up to 500 million of American dollars or its equivalent in Mexican pesos. The Ordinary and Extraordinary Shareholder´s meeting held on December 5, 2016, approved to issue a fnancial instrument that comply with the requirements of regulatory capital established in Basilea III, which was considered as not fundamental basic capital, for up to 500 million american dollars.

On December 29, 2016 Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México, made an overseas private ofering of subordinate, non-preferred, perpetual and convertible obligations representing the share capital by a total amount of 500,000,000 american dollars, which had the character of a ‘ mirror emission ‘(back-

to-back), as a guarantee of liquidity of subordinate obligations not preferential, perpetual and convertible into shares, issued by Grupo Financiero Santander Mexico.

(vi) As a result of the corporate restructure which included among others the merger of Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México, as a merging party with Grupo Financiero Santander Mexico as merged Company the subordinated obligations referred to in paragraph (v), were acquired in its entirety by Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México; therefore the subordinate obligations of Banco Santander Mexico became extinct by confusion of rights and obligations, since the Bank as a merging party met the quality of debtor and creditor in these instruments at the moment that the merger was fnalised.

Based on the above the subordinate obligations issued by Grupo Financiero Santander Mexico, which were acquired by various investors, will continue to be in force on behalf of its owners and managed by Banco Santander Mexico, preserving substantially the terms and conditions in which they were issued.

(vii) On September 20, 2018 Banco Santander México, S.A., Institución de Banca Múltiple Grupo Financiero Santander México. issued and placed equity instruments, subordinated, preferential, and not convertible into shares, governed by foreign law representative of the complementary part of the net capital of Banco Santander (Tier 2 subordinated preferred capital notes), for the amount of 1,300,000,000.00 american dollars (the “instruments”), whose resources were used mainly for the acquisition of the 94.07% of the 2013 subordinated notes.

The amount issued of 1,300,000,000.00 american dollars covers in full the sum of the repurchase of the subordinated notes 2013, for 1,222,907,000.00 american dollars. With respect to the 77,093,000.00 american dollars that remained in force, shall be paid in advance of January 30, 2019, which has been authorised by the Bank of Mexico. **

Regarding, the acquisition of the subordinated notes 2013: (a) the acquired total amount was 1,222,907,000.00 american dollars (nominal value), at a price of 1,010.50 american dollars and (b) the amount acquired Banco Santander, S.A. (Spain), was a nominal 1,078,094,000.00 american dollars.

With respect of the issue of the instruments the total amount distributed to Banco Santander, S.A. (Spain), was 75% of the emission; which means that the settled amount is was 975,000,000.00 american dollars.

The General Extraordinary Shareholder´s Meeting was held on September 10, 2018 where among other subjects, it was approved to ratify the limit for the issuance of up to 6,500 million

699

https://975,000,000.00

https://1,078,094,000.00

https://1,010.50

https://1,222,907,000.00

https://77,093,000.00

https://1,222,907,000.00

https://1,300,000,000.00

https://1,300,000,000.00


American dollars debt to a maximum period of 15 years, senior or subordinate, in local markets and/or international markets, instrumented individually or through broadcast programs, which was previously authorised by the Board of Directors on its meeting held on April 26 of 2018.

e) Specifc circumstances that restrict the availability of reserves. According to the Law of Financial Institutions, general dispositions applicable to fnancial institutions, General Corporations law and the bylaws, the Bank has to constitute or increase its capital reserves to ensure the solvency to protect the payments system and the public savings.

The Bank increases its legal reserve annually accordingly to the results obtained in the fscal year (benefts).

The Bank must constitute the diferent reserves established in the legal provisions applicable to fnancial institutions, which are determined according to the qualifcation granted to credits and they are released when the credit rating improves, or when it is settled.

f) Entities outside the Group which own, directly or through subsidiaries, a stake equal to or greater than 10% of the equity. Not applicable.

g) Equity instruments admitted to trading. Not applicable.

6. Banco Santander Totta, S.A

a) Number of equity instruments held by the Group The Group holds 1,256,179,958 ordinary shares through its subsidiaries: Santander Totta, SGPS, S.A. with 1,241,172,043 shares, Taxagest Sociedade Gestora de Participações Sociais, S.A. with 14,593,315 shares, and Banco Santander Totta, S.A. with 407,130 treasury shares, all of which have a par value of EUR 1 each and identical voting and dividend rights and are subscribed and paid in full.




e) Specifc circumstances that restrict the availability of reserves Under Article 296 of the Portuguese Companies’ Code, the legal and merger reserves can only be used to ofset losses or to increase capital.

Non-current asset revaluation reserves are regulated by Decree-Law 31/98, under which losses can be ofset or capital increased by the amounts for which the underlying asset is depreciated, amortised or sold.



7. Santander Consumer Bank AG

a) Number of fnancial equity instruments held by the Group At 31 December 2018, through Santander Consumer Holding GmbH, the Group held 30,002 ordinary shares with a par value of EUR 1,000 each, all of which carry the same voting rights.

b) Capital increases in progress Not applicable.






8. Banco Santander - Chile

a) Number of equity instruments held by the Group The Group holds a 67.18% ownership interest in its subsidiary in Chile corresponding to 126,593,017,845 ordinary shares of Banco Santander - Chile through its subsidiaries: Santander Chile Holding S.A. with 66,822,519,695 ordinary shares, Teatinos Siglo XXI Inversiones S.A., with 59,770,481,573 ordinary shares and Santander Inversiones S.A. with 16,577 fully subscribed and paid ordinary shares that carry the same voting and dividend rights.


c) Capital authorised by the shareholders at the general meeting

Auditors’ report



Share capital at 31 December 2018 amounted to CLP 891,302,881,691.


e) Specifc circumstances that restrict the availability of reserves Remittances to foreign investors in relation to investments made under the Statute of Foreign Investment (Decree-Law 600/1974) and the amendments thereto require the prior authorisation of the foreign investment committee.


g) Quoted equity instruments All the shares are listed on the Chilean stock exchanges and, through American Depositary Receipts (ADRs), on the New York Stock Exchange (NYSE).

9. Santander Bank Polska S.A. (formerly Bank Zachodni WBK S.A.)

a) Number of fnancial equity instruments held by the Group At 31 December, 2018, Banco Santander, S.A. held 68,880,774 ordinary shares with a par value of PLN 10 each, all of which carry the same voting rights.

b) Capital increases in progress At 31 December, 2018, there were no approved capital increases.

c) Capital authorised by the shareholders at the general meeting At the extraordinary general meeting held on 29 May 2018 passed the resolution regarding the demerger of Deutsche Bank Polska S.A. As a result of this demerger share capital of Santander Bank Polska was increased by PLN 27,548,240 through issuance of 2,754,824 ordinary bearer shares series N with a nominal value of PLN 10 (ten zlotys) each. The share capital increase took place on 9 November 2018.

d) Rights on founder’s shares, “rights” bonds, convertible debentures and similar securities or rights At the general meeting held on 17 May 2017, the shareholders resolved to approve the “Incentive Scheme VI” as an initiative to attract, motivate and retain the bank’s employees. Delivery of the shares is tied to the achievement of certain targets in the years from 2017 to 2019. The bank considers that the exercise of these rights might give rise to the issuance of no more than 250,000 shares.


f) Non-Group entities, which hold, directly or through subsidiaries, 10% or more of equity Not applicable.

g) Quoted equity instruments All the shares of Santander Bank Polska S.A. are listed on the Warsaw Stock Exchange.

B) The restrictions on the ability to access or use the assets and settle the liabilities of the Group, as required under paragraph 13 of IFRS12, are described below.

In certain jurisdictions, restrictions have been established on the distribution of dividends on the basis of the new, much more stringent capital adequacy regulations. However, there is currently no evidence of any practical or legal impediment to the transfer of funds by Group subsidiaries to the Parent in the form of dividends, loans or advances, repatriation of capital or any other means.

Appendix VI Annual banking report The Group’s total tax contribution in 2018 (taxes incurred directly by the Group and the collection of taxes incurred by third parties generated in the course of its economic activities) exceeded EUR 16,600 million of which more than EUR 7,000 million correspond to own taxes (Corporate income tax, non-recoverable VAT and other indirect taxes, payments to the Social Security on behalf of the employer and other taxes on payroll and other taxes and levies).

This annual banking report was prepared in compliance with Article 89 of Directive 2013/36/EU of the European Parliament and of the Council, of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment frms, and its transposition into Spanish law pursuant to Article 87 of Law 10/2014, of 26 June on the regulation, supervision and capital adequacy of credit institutions.

Following is a detail of the criteria used to prepare the annual banking report for 2018:

a) Name(s), nature of activities and geographical location The aforementioned information is available in Appendices I and III to the Group’s consolidated fnancial statements, which contain details of the companies operating in each jurisdiction, including, among other information, their name(s), geographical location and the nature of their activities.

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As can be seen in the aforementioned Appendices, the main activity carried on by the Group in the various jurisdictions in which it operates is commercial banking. The Group operates mainly in ten markets through a model of subsidiaries that are autonomous in capital and liquidity terms, which has clear strategic and regulatory advantages, since it limits the risk of contagion between Group units, imposes a double layer of global and local oversight and facilitates crisis management and resolution. The number of Group ofces totals 13,217 (the largest commercial network of any international bank) and these ofces provide our customers with all their basic fnancial needs.

b) Turnover and income before tax For the purposes of this report, turnover is considered to be gross income, and gross proft or loss before tax, both as defned and presented in the consolidated income statement that forms part of the Group’s consolidated fnancial statements.

c) Number of employees on a full time equivalent basis The data on employees on a full time equivalent basis were obtained from the average headcount of each jurisdiction.

d) Tax on proft or loss In the absence of specifc criteria, the amount of taxes actually paid in respect of those taxes whose efect is recognised under “Income Tax” in the consolidated income statement (EUR 3,458 million in 2018, with an efective tax rate of 24.4%) has been included.

Taxes efectively paid in the year by each of the companies in each jurisdiction include:

• Supplementary payments relating to income tax returns, normally for prior years.

• Advances, prepayments, withholdings made or borne in respect of tax on proft or loss for the year. Given their scantly representative amount, it was decided that taxes borne abroad would be included in the jurisdiction of the company that bore them.

• Refunds collected in the year with respect to returns for prior years that resulted in a refund.

• Where appropriate, the tax payable arising from tax assessments and litigation relating to these taxes.

The foregoing amounts form part of the cash fow statement and therefore difer from the income tax expense recognised in the consolidated income statement (EUR 4,886 million in 2018, representing an efective rate of 34.4% or, if extraordinary results are discounted, EUR 5,230 million which represents an efective rate of 35.4% (see note 52.c)). This is so because the tax regulations of each country establish:

• The time at which taxes must be paid and, normally, there is a timing mismatch between the dates of payment and the date of generation of the income bearing the tax.

• Its own criteria for calculating the tax and establishes temporary or permanent restrictions on expense deduction, exemptions, relief or deferrals of certain income, thereby generating the related diferences between the accounting proft (or loss) and taxable proft (or tax loss) which is ultimately taxed; tax loss carryforwards from prior years, tax credits and/or relief, etc. must also be added to this. Also, in certain cases special regimes are established, such as the tax consolidation of companies in the same jurisdiction, etc.

e) Public subsidies received In the context of the disclosures required by current legislation, this term was interpreted to mean any aid or subsidy in line with the European Commission’s State Aid Guide and, in such context, the Group companies did not receive public subsidies in 2018.

Auditors’ report



The detail of the information for 2018 is as follows:

2018

Gross proft or Turnover loss before tax Tax on proft or loss

Jurisdiction (million of euros) Employees (million of euros) (million of euros)

Germany 1,377 4,562 457 119 Argentina 1,203 8,939 190 118 Austria 171 349 83 33 Bahamas 9 44 (1) - Belgium 104 212 64 15 Brazil1 13,211 44,151 5,343 998 Canada 52 200 10 3 Chile 2,568 11,565 1,198 202 China 95 219 28 3 Colombia 26 169 2 3 Spain2 7,644 38,227 106 464 United States 6,764 15,616 1,144 29 Denmark 177 236 89 5 Finland 112 171 69 14 France 575 939 343 63 Ireland 108 2 (20) - Isle of Man 1 57 1 - Cayman Islands (1) - (1) -Italy 421 830 183 63 Jersey 1 76 1 1 Luxemburg 39 - 33 - Malta 10 - 10 -Mexico3 3,584 19,295 1,218 322 Norway 317 508 171 55 The Netherlands 96 295 42 78 Panama 1 6 - -Paraguay - - - - Peru 70 166 42 8 Poland 1,885 14,930 817 228 Portugal4 1,398 7,294 376 25 Puerto Rico 247 963 (20) 9 United Kingdom 5,472 24,772 1,922 537 Singapore 4 10 1 - Sweden 161 324 106 21 Switzerland 106 233 29 7 Uruguay 416 1,609 165 35 Consolidated Group total 48,424 196,969 14,201 3,458

1.Including the information relating to a branch in the Cayman Islands the profts of which are taxed in full in Brazil. The contribution of this branch proft before tax from continuing operations 2018 is EUR 613 million.

2. Includes the corporate centre. In Tax on proft or loss, it includes EUR 116 million of monetizable deferred taxes converted form Banco Popular Español, S.A.U.

3. Including the information on a branch in the Bahamas the profts of which are taxed in full in Mexico. In 2018 the contribution of this branch to operating proft before tax from continuing operations was EUR - 2 million.

4. Including the information relating to the branch, closed on 31 December, in the UK and is taxed both in the UK and in Portugal. In 2018 the contribution of this branch to proft before tax from continuing operations was EUR 32 million.

At 31 December 2018, the Group’s return on assets (ROA) was 0.64%.

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PAGE INTENTIONALLY LEFT BLANK IN THE ENGLISH VERSION.

IN THE SPANISH VERSION PAGES 704 TO 707 CONTAIN THE SIGNATURE PAGES TO THE BANCO SANTANDER, S.A. 2018 CONSOLIDATED DIRECTORS’ REPORT AND CONSOLIDATED

FINANCIAL STATEMENTS IN THE FORM REQUIRED UNDER SPANISH LAW.

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