Santander Bank Polska S.A.

Capital/Financing Update • Nov 20, 2023

20-11-2023

Current report no. 40/2023

Re.: Issuance of senior preferred bondsseries 2/2023

In relation to Current Report 3/2023 of 31January 2023, the Management Board of Santander Bank Polska S.A.(_quot;Bank_quot;) hereby reports that on 20 November 2023 it decided to issuesenior preferred bonds series 2/2023 ("Bonds") as part of the programmefor the issue of bonds with the following terms and conditions:

1. The settlement of the issue will takeplace on 29 November 2023 (_quot;Issue Date_quot;);

2. The total nominal value of the Bonds willbe up to PLN 3,100,000,000.00;

3. The Bonds will be redeemed on 30 November2026 (_quot;Maturity Date_quot;) subject to the Bank's right to execute the calloption;

4. The nominal value of one Bond will be PLN500,000.00;

5. The issue price of the Bonds will beequal to their nominal value;

6. The Bonds will bear a floating interestrate equal to the sum of 6M WIBOR and the margin of 1.80% in annualbasis;

7. The Bonds will be issued as liabilitieswhich can be classified as eligible liabilities as defined in the Act of10 June 2016 on the Bank Guarantee Fund, deposit guarantee scheme andresolution;

8. All benefits arising from the Bonds willbe cash benefits;

9. The Bonds will not be secured;

10. The Bank's obligations under theprincipal amount of the Bonds will be in category three, sub-categoryfour as described in Article 440 section 2 point 3) letter d) of the Actof 28 February 2003 - Bankruptcy Law and the Bank's obligations underthe interest under the Bonds will be in category four, sub-category oneas described in Article 440 section 2 point 4) letter a) of the Act of28 February 2003 - Bankruptcy Law;

11. The Bonds will be issued asdematerialised bearer Bonds and will be registered in the securitiesdepository kept by Krajowy Depozyt Papierów Wartościowych S.A.;

12. The Bank will apply for the admission ofthe Bonds to trading in the Alternative Trading System of the WarsawStock Exchange.

Legal basis:

Article 17(1) of the Market Abuse Regulation.