Income Generation Range

A range featuring two Global investment funds offering quarterly payments via redemption of units¹ and semi-annual payments in the form of dividends¹.

Investment funds involve certain risks (market, credit, liquidity, currency, interest rate, sustainability risk etc.), and therefore some or all of the investment may be lost. The risks are set out in the fund's prospectus and Key Investor Information Document (KIID).

Before taking the decision to invest, you must consult the fund's prospectus and KIID, available from the supervisory body concerned, and also from the fund manager's website (www.santanderassetmanagement.es). The decision to invest in the fund must be taken in due consideration of all the characteristics or objectives of the fund described in the fund's prospectus and KIID. The investment advertised refers to the acquisition of stakes in an investment fund, and not in a certain underlying asset. Past performance is not a reliable indicator of future results, and if the fund is denominated in currencies other than the euro, it may experience increases or falls in performance as a result of monetary fluctuations.

The taxation of returns obtained from investments will depend on the tax legislation applicable to the personal situations of investors, and may vary in the future.

Management Company: SANTANDER ASSET MANAGEMENT, S.A., S.G.I.I.C., registered in the CNMV under number 12. Depositary Institution: CACEIS BANK SPAIN, S.A., registered in the CNMV under number 238. Marketing Company: BANCO SANTANDER, S.A., registered in the CNMV under number 49.

This is an advertising communication, for commercial purposes. It is not information that is contractually binding, it is not information that is required by any legal stipulations, nor should it be considered an investment recommendation or any form of advice, and it is not sufficient to take a decision to invest..

1. WARNING: neither the returns nor the initial investment in these funds are guaranteed, meaning that the investor could lose money. The periodic payments for Santander Defensivo Genera, FI are reimbursements of your investment, i.e. they are not the yield or return obtained by the fund. The fund may be incurring losses, even though you are receiving periodic payments. In the case of Santander Equilibrado Income, FI, the amount you receive will depend on the distributable income obtained by the portfolio, which may vary depending on prevailing market conditions.
2. Quarterly payments via redemption of units. Each redemption will be 0.25% of the net asset value of the unit in the fund on 31/03, 30/06, 30/09 and 31/12, or next business day if any of those days falls on a non-business day. The effective amount of the payments you receive will depend on the performance of the net asset value and the return will not necessarily be equal to the initial amount invested.
3. The unitholder may receive, via semi-annual dividend payments, a variable amount at the discretion of the fund manager, subject to the legally applicable withholding tax. The fund manager has a NON-GUARANTEED target dividend payout of 1.50% semi-annually (3% per annum) of the net asset value of the fund at the date of the dividend accrual. On the day the dividend is paid, the net asset value of the fund will be reduced by an amount equivalent to the amount of the profit paid out.

SANTANDER DEFENSIVO GENERA, FI

for conservative profiles

SANTANDER EQUILIBRADO INCOME, FI

for moderate risk profiles

TWO INVESTMENT FUNDS

for different risk profiles

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Funds that offer you a periodic income¹

SANTANDER DEFENSIVO GENERA, FI

If you have a conservative risk profile and would like to receive a periodic income, through the repayment of shares¹, this fund may be of interest.

Global fund with an annual volatility target of around 2% (maximum: 5%), which pays a mandatory 0.25% quarterly² via redemption of units.
Indicative investment term of four years.
Fund listed in the CNMV register at entry number 4935.
See the prospectus, the KIID and the full fact sheet for the Santander Defensivo Genera, FI fund here.
This fund may invest a percentage of 100% in fixed income issues of low credit quality, i.e. carrying a very high credit risk.

Commercial terms and conditions of the fund

ISIN	Minimum initial investment	Management fee	Deposit fee	Quarterly distribution²
ES0174742009	1 unit	0.8%-0.9% annually on equity (*)	0.04% annually on equity	0,25%

(*) Annual management fee on fund equity, subject to a minimum of 0.8% and maximum of 0.9%, depending on the fund’s performance.

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SANTANDER EQUILIBRADO INCOME, FI

A fund to receive periodic income, through the repayment of shares³, if you are willing to assume a moderate risk.

Global fund with an annual volatility target of around 7% (maximum: 10%), with semi-annual payment of income in the form of dividends³.
Indicative investment term of five years.
Fund listed in the CNMV register at entry number 5055.
See the prospectus, the KIID and the full fact sheet for the Santander Equilibrado Income, FI fund here.
This fund can invest a percentage of 100% in fixed income issues of low credit quality, so it has a very high credit risk.

Commercial terms and conditions of the fund

ISIN	Minimum initial investment	Management fee	Deposit fee	Quarterly distribution³
ES0170382008	1 unit	1.1%-1.3% annually on equity (**)	0.1% annually on equity	1,50%

(**) Annual management fee on fund equity, subject to a minimum of 1.1% and maximum of 1.3%, depending on the fund’s performance.

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What risk is involved in investing in these investment funds?

Investing in funds implies assuming a certain level of risk that will depend on the composition of each fund, market fluctuations and other factors associated with investing in securities, so there is a risk of losing all or part of the investment.

In general, investing in funds involves assuming the following risks:

CREDIT RISK
Due to the quality of the assets in which it invests, as well as its issuers. It is the risk that the issuer will not be able to meet the payments. These funds have a maximum exposure to fixed income issues of low credit quality of 100%.
MARKET RISK
It is the possibility that financial instruments are listed or have a value below the price we have paid for them. In this sense, investments may be affected by:

Interest rate risk: changes in interest rates affect the price of fixed income assets. The sensitivity to this risk depends on the duration of these assets.

Exchange rate risk: fluctuation of the exchange value in the case of assets denominated in currencies other than the reference of the participation.

Market risk for investment in equities: derived from variations in the price of equity assets.

Risk of investing in emerging markets: Political changes or economic circumstances can affect the value of investments.

Risk of geographical or sectoral concentration: the concentration of our investment in the same area or sector increases the market risk.

LIQUIDITY RISK
It is the risk that no counterparty is found in the market and, therefore, a product cannot be sold.
SUSTAINABILITY RISK
These risks correspond to environmental, social or governance events or conditions. The sustainability risk of investments will depend, inter alia, on the type of issuer, the sector of activity or its geographical location.
RISK OF INVESTING IN DERIVATIVE FINANCIAL INSTRUMENTS
Investing in derivatives (futures, options, etc.) may incorporate a higher risk given the nature of these products.