Banco Santander S.A. — Director's Dealing 2020

May 5, 2020

ANNEX

Template for notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	THIS NOTIFICATION RELATES TO FRANCISCO Y O´SHEA	MR JAVIER BOTIN-SANZ DE SAUTUOLA
2	Reason for the notification
a)	Position/status	DIRECTOR OF THE ISSUER.
b)	Initial notification /Amendment	INITIAL NOTIFICATION.
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	BANCO SANTANDER, S.A.
b)	LEI	5493006QMFDDMYWIAM13
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	TRANSACTION CARRIED OUT IN FINANCIAL INSTRUMENT LINK TO ORDINARY SHARES OF (ISIN: 0.50 EURO NOMINAL VALUE
	Identification code	ES0113900037).
b)	Nature of the transaction	EUROPEAN CALL OPTION ON 20,016,000 SANTANDER'S SHARES, EXERCISABLE AT MATURITY, WITH A STIKE PRICE OF 3.40 EUROS.
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		3.4 EUR	20,016,000
d)	Aggregated information	TRANSACTION CARRIED OUT IN FINANCIAL INSTRUMENT LINK TO ORDINARY SHARES OF (ISIN: 0.50 EURO NOMINAL VALUE

	- Aggregated volume	ES0113900037).
	- Price	Price	Volume
		3.4 EUR	20,016,000
e)	Date of the transaction	2020-05-04
f)	Place of the transaction	XMAD