Banco Santander, S.A. Share Repurchase Program

Banco Santander, S.A. announced a share repurchase program of up to 1,825 million euros, representing approximately 25% of the Group's underlying profit for the first half of 2026. This program is in line with the bank's shareholder remuneration policy, which targets a total payout of around 50% of underlying profit through dividends and buybacks. The program is set to commence on August 24, 2026, following the completion of a current program, and is expected to last for 98 trading days, with an indicative end date of January 8, 2027. The shares will be repurchased at market price, subject to specific volume and price restrictions. The purpose of the buyback is to reduce the Bank's share capital. The decision on the interim cash dividend for 2026 results is expected in September 2026.