14-03-2023

Current report no. 11/2023

Re.:Issuance of senior non-preferred bonds series 1/2023_#160;Inrelation to Current Report 3/2023 of 31 January 2023, the ManagementBoard of Santander Bank Polska S.A. (_quot;Bank_quot;) hereby reports that on 14March 2023 it decided to issue senior non-preferred bonds series 1/2023("Bonds") as part of the programme for the issue of bonds with thefollowing terms and conditions:

1.The settlement of the issue will takeplace on 30 March 2023 (_quot;Issue Date_quot;);

2.The total nominal value of the Bonds willbe up to PLN 1,900,000,000.00;

3.The Bonds will be redeemed on 31 March2025 (_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 be equalto their nominal value;

6.The Bonds will bear a floating interestrate equal to the sum of 6M WIBOR and the margin of 1.90% 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 the Bondswill be in category six as described in Article 440 section 2 point 6)of the Act of 28 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.