Santander Bank Polska SA, with its registered office in Warsaw, address: al. Jana Pawła II 17, 00-854 Warsaw, entered to the Registry of Businesses of the National

Court Register under KRS 0000008723 kept by the District Court for the city Warsaw, 13th Business Division, REGON930041341, NIP 896 000 56 73, with paid up share

capital of PLN 1 021 893 140.

increased by 29% YoY to PLN 16bn.Customer deposits and gross loan portfolio grew 7% and 4% YoY, respectively. We have

a sound capital position and our liquidity ratios comfortably above the required levels.

We have been developing our product offer by introducing solutions that are useful to our customers. One of our priorities is to

ensure that our customers’ funds and personal data are secure – that is why we continue to invest in cybersecurity solutions.

Several trends dominated the economy in 2023. We witnessed faster-than-expected disinflation coupled with the rebound of the

GDP growth. Investments grew fast while consumption remained low. Foreign trade turnover was in a clear downward trend.

The global economy continued its soft landing. In general, however, it was a good year for the banking sector. The financial

condition of households and companies remained stable, hence the cost of risk did not increase. Interest rates remained quite

high, despite a 1 p.p. cut before the parliamentary elections. The demand for loans started to revive, primarily in the home

mortgage segment – thanks to the First Apartment programme – as well as in the consumer finance segment.

Responsibility. We believe that building the best experience and evoking positive emotions should accompany our relations with

customers and employees. They are at the heart of everything we do. We want to deliver the highest returns for our shareholders,

have outstanding results and achieve our ambition of being the most profitable bank in Poland. We will do it responsibly, taking

care of sustainable growth and proper management of operational risk. These aspects are related to our environmental, social

and governance commitments. We also put effort in responsible digital transformation, sustainable financing, educational

initiatives addressed to different segments of society, mitigating climate change and reducing our environmental footprint.

Whatever we do for our customers, employees or shareholders, we want to do it in a responsible manner and in line with top

ethical standards.

Individuals and companies who use our products and services appreciate our focus on customer needs.

In the retail segment, we implemented a modern mobile application. Thanks to the intuitive migration process, more than 2.5m

Private Banking closed the year with an excellent financial result. We introduced new services to enhance customer experience.

The Business and Corporate Banking Division continues the growth strategy so that our bank may become the best business bank

and one of the top three banks in Poland in terms of market share. The relationship-building and acquisition activities contributed

to the continued growth in the majority of business lines along with a satisfactory quality of the loan portfolio. We achieved

a growth in the volume of sales of key products and in the number of customer transactions.

As regards the Corporate and Investment Banking operations in 2023, we developed GTS services. We implemented innovative

functions on One Trade Portal to streamline cross-border transactions, such as cross-border instant payments. We developed the

Santander Bank Polska SA, with its registered office in Warsaw, address: al. Jana Pawła II 17, 00-854 Warsaw, entered to the Registry of Businesses of the National

Court Register under KRS 0000008723 kept by the District Court for the city Warsaw, 13th Business Division, REGON930041341, NIP 896 000 56 73, with paid up share

capital of PLN 1 021 893 140.

Global Connect market together with the Warsaw Stock Exchange – more than a dozen of foreign companies made IPOs at the

initiative of Santander Brokerage Poland.

It is also worth mentioning our active participation in corporate bond issues on the domestic market, in particular: co-arrangement

Polish market in terms of the retail sales of funds. Santander TFI is the leader when it comes to investment results delivered to

our customers – all of our investment funds reported positive rates of return much above their benchmarks. We also expanded

our ESG offer by introducing Santander Prestiż Prosperity, a subfund which meets the requirements arising from Article 9 of the

Sustainable Finance Disclosure Regulation. Moreover, we introduced the Individual Retirement Security Account (IKZE) into our

offer.

Santander Leasing reported a 14% growth YoY. The company supported customers in the green transition and successively

increased its portfolio of green investments. It was also a special year in terms of the development of digital sales channels and

customer service channels.

2023 marked the 20th anniversary for Santander Factoring. I'm proud of all that we have achieved during that time. When we

started our operations, many of our competitors had been on the market for 10 years already. Santander Faktoring has grown its

 implement technologies and IT solutions that support the agile operating model.

We act responsibly, we take care of the environment and we achieve social goals. Year after year, we have been increasing the

amount of financing allocated to environmentally sustainable investments. These project involve renewable energy sources,

energy efficiency of buildings and electromobility (among other initiatives). We have established an internal panel of experts to

analyse whether transactions in those areas comply with relevant criteria for sustainable investments (EU Taxonomy and SFCS –

Sustainable Finance Classification System, our internal classification system). We evaluate our green banking products and

services in the same way. The amount of sustainable financing we provided in 2023 as a Group was PLN 7,671m (as per SFCS).

This is 145% more compared to 2022!

Education is an important area of our social commitment. Santander Universidades, our flagship programme, offers courses whose

participants can learn new skills and extend their knowledge. Last year, more than 21,000 people from Poland participated

One of our focus areas is a consistent development of a friendly workplace that fosters development and ensures respect and

recognition. That effort was confirmed by the Great Place To Work certificate and a place on the Diversity IN Check list – recognition

given to most advanced employers in Poland in terms of managing diversity and inclusion. We have a number of in-house projects,

Santander Bank Polska SA, with its registered office in Warsaw, address: al. Jana Pawła II 17, 00-854 Warsaw, entered to the Registry of Businesses of the National

Court Register under KRS 0000008723 kept by the District Court for the city Warsaw, 13th Business Division, REGON930041341, NIP 896 000 56 73, with paid up share

capital of PLN 1 021 893 140.

e.g. Diversity Ambassadors for top executives, employee networks, educational campaigns, training sessions, webinars and

Santander Women podcast.

Last year, a strong focus was placed on improving employee experience, for which we were recognised again with the Top

processes we are able to adapt swiftly to the ever-changing conditions. They also help our employees to develop their

competencies, including skills of the future.

with customers and for creating excellent experience as well as new solutions that respond to customers’ needs. 2023 was

another year when we topped prestigious rankings. We placed third in the “Best multichannel service provider” category of the

“2023 Golden Banker” and in the “Friendly Bank” competition organised by Newsweek.

In the Euromoney competition, we were named the best bank for SMEs in Poland in recognition of our banking services for small

and medium-sized enterprises. We ranked top in the Business-friendly Bank ranking by Forbes. In the Eurobuild magazine

competition, Santander Bank Polska won in the “Financing Provider of the Year, CEE” category for the third time in a row. We were

awarded in Celent Model Bank Awards 2023 competition. We were recognised for our CSR engagement and corporate BLIK

cheques – a solution that was very helpful during the refugee crisis triggered by the war in Ukraine.

We are entering a year of social and economic challenges. We hope it will be good for the banking sector and our regulatory and

tax environment will let us continue to grow so that we can support Poland’s development goals. We are facing challenges related

The new strategy – “We Help You Achieve More” – sets clear directions for the months and years to come. We will embark on