Fondo de Titulizacion Santander Residential 1: 01 December 2025

This is a Spanish residential mortgage transaction with the Notes being offered by Banco Santander, in its capacity as Arranger, with BofA Securities and Citibank as Joint Lead Managers.

The portfolio consists of 8,977 legacy residential mortgage loans, where the average current balance is €94,542.85. Originator breakdown (by outstanding balances): Banco Santander– 54.42%, Popular-28.95% and Banesto-6.63%. The WA current LTV is 70.56% (Original LTV was 85.65%), the WA indexed current LTV is 58.11% and the WA seasoning is 13.28 years. Geographical Distribution by Outstanding Balance includes Andalucia - 21.77%, Catalonia - 15.01%, Madrid - 14.93%, Valencia - 9.87%.

EU & UK Risk Retention: Banco Santander, as Originator, will retain on an ongoing basis a material net economic interest of not less than 5% in the securitisation. In addition, the Seller has undertaken that the material net economic interest held by it shall not be subject to any credit-risk mitigation or hedging, in accordance with Article 6(1) of the EU Securitisation Regulation.

US Risk Retention: The Seller, as the sponsor under the US Risk Retention Rules, does not intend to retain at least 5% of the credit risk of the securitised assets for the purposes of the US Risk Retention Rules.

Compare/contrast: Clavel Residential 4 DAC, Torres Residential DAC