Santander Consumer Bank Nordic .• Santander Consumer Bank AS (“Santander”) is a private limited

Company presentation

Santander Consumer Bank AS, Nordic

Nov 2016

Santander Consumer Bank AS (Santander) is a private limited liability company incorporated under the laws of Norway subject to supervision by the Norwegian Financial

Supervision Authority (the Finanstilsynet), having its registered office at Strandveien 18, 1366 Lysaker, Norway with registration number 983 521 592.

No transaction or services related hereto are contemplated without a subsequent formal agreement with the Santander and/or its affiliates.

This document has been prepared by Santander for information purposes only and its contents are proprietary information and are strictly private and confidential. You agree that

this document should not be reproduced (in whole or in part), delivered or distributed to others or replicated without the prior written consent of Santander and is intended to be

read by market professionals (eligible counterparties and professional clients) and should not be disclosed to nor relied upon by retail clients and/or investors.

This document is not being distributed to and must not be passed on to the general public in the United Kingdom. This communication is only directed to those persons in the

United Kingdom who are within the definition of Investment Professionals (as defined in the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005) (the

FPO). As such this communication is directed only at persons having professional experience in matters relating to investments. Outside of the UK, it is only directed at

Professional Clients or Eligible Counterparties within the meaning of the Markets in Financial Instruments Directive 2004/39/EC, as amended (MiFID) and is not intended for

distribution to or use by Retail Clients (as defined in MiFID).This document is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where

such distribution or use would be contrary to law or regulation.

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falling within Article 49(2)(a) to (d) of the FPO.

Neither the information nor any opinion expressed constitutes a prospectus, offering document, an underwriting commitment or an offer, or an invitation to make an offer, to buy or

sell any securities, other investment or any options, futures or derivatives related to securities or investments. No offering of securities shall be made in the United States except

pursuant to registration under the United States Securities Act of 1933 (as amended the Act) or any exemption from such registration provided by Rule 144A or Regulation S of

the Act.

The information presented herein is an advertisement and does not constitute a prospectus for the purposes of EU Directive 2003/71/EC (as amended) (the Prospectus

Directive) and/or Part VI of the Financial Services and Markets Act 2000. Neither the information nor any opinion expressed constitutes a prospectus, offering document, an

underwriting commitment or an offer, or an invitation to make an offer, to buy or sell any securities, other investment or any options, futures or derivatives related to securities or

investments. The information herein has not been reviewed or approved by any rating agency, government entity, regulatory body or listing authority and does not constitute

listing particulars in compliance with the regulations or rules of any stock exchange.

This presentation is provided on the basis of your acceptance of the terms of this disclaimer. This document contains certain tables and other statistical analyses (the "Statistical

Information") which may have not been audited. Numerous assumptions have been used in preparing the Statistical Information, which may or may not be reflected in this

document or be suitable for the circumstances of any particular recipient. As such, no assurance can be given as to the Statistical Information's accuracy, appropriateness or

completeness in any particular context, or as to whether the Statistical Information and/or the assumptions upon which they are based reflect present market conditions or future

market performance. The Statistical Information should not be construed as either projections or predictions or as legal, tax, financial, investment or accounting advice.

Disclaimer

2

Any historical information contained in this document is not indicative of future performance. Opinions and estimates (including statements or forecasts) constitute Santanders

judgement as of the date indicated, are subject to change without notice and involve a number of assumptions which may not prove valid. This document may include "forward-

looking statements". Such statements contain the words "anticipate", "believe", "intend", "estimate", "expect", "will", "may", "project", "plan" and words of similar meaning. All

statements included in this document other than statements of historical facts, including, without limitation, those regarding financial position, business strategy, plans and

objectives of management for future operations (including development plans and objectives) are forward-looking statements. Such forward-looking statements involve known and

unknown risks, uncertainties and other important factors that could cause actual results, performance or achievements to be materially different from future results, performance or

achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding present and future

business strategies and the relevant future business environment. These forward-looking statements speak only as of the date of this presentation and Santander expressly

disclaims to the fullest extent permitted by law any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect

any change in expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Nothing in the foregoing is intended

to or shall exclude any liability for, or remedy in respect of, fraudulent misrepresentation.

Likewise, certain information contained herein may use indicative valuations based on certain market conditions and information that can be subject to further verifications,

amendments or additions by Santander or its affiliates. Clients and /or investors are advised to make an independent review of the information and financial facts included in this

document. Certain transactions may give rise to substantial risks and are not suitable for all clients or investors. Each party is advised to reach their own conclusions regarding

the legal, tax and accounting aspects of a proposed transaction as it relates to their asset, liability, or other risk management objectives and risk tolerance.

Santander is not recommending or making any representations as to the suitability of any securities. This document is not intended to provide personal investment advice and it

does not take into account the specific investment objectives, financial situation and the particular needs of any specific person who may receive this report. Each party should

seek independent financial advice regarding the suitability and/or appropriateness of making an investment or implementing the investment strategies discussed in this document

and should understand that statements regarding future prospects may not be realised. Each party should note that income from investments, if any, may fluctuate and that the

value of such investments may rise or fall, accordingly, they may receive back less than they originally invested. All investment decisions must be made on the basis of the

information that is contained in the final prospectus for the securities to be prepared and delivered to prospective investors at or prior to the time of sale.

The information contained in this document (other than disclosure information relating to the Santander Group) has been obtained from, or are based on, sources believed to be

reliable, but no representation or warranty, express or implied, is made that such information, assumptions, performance data, modelling or scenario analysis is accurate,

complete or up to date and it should not be relied upon as such.

To the fullest extent permitted by law, Santander does not accept any liability whatsoever (including in negligence) for any direct or consequential loss arising from any use of or

reliance on material contained in this document. In addition neither Santander nor any of their affiliates makes any representation or warranty as to the fairness, accuracy,

completeness, adequacy or comprehensiveness of the information contained in this document and expressly waives any responsibility arising from any lack of accuracy,

comprehensiveness and adequacy of the information contained in this document.