Santander Select Defensive

SANTANDER SELECT DEFENSIVE "A" August 2021 Fund Overview Investment Objective Santander Select Defensive is an Asset Allocation fund that aims to provide a reasonable level of return through investments in a diversified portfolio of Fixed Income, Equity and Absolute Return Funds. Maximum exposure to Equities is Stefano Amato 20%, with a 10% neutral stance, minimum exposure to Fixed Income is 70% with a neutral allocation of 90% and Absolute Return Funds’ weight can rise up Managers Michalis Charalambous to 20% of the total portfolio with 0% neutral allocation. Currency exposure is ISIN LU0781563332 limited to 10% of the total portfolio. Launch Date 12/06/2012 Currency Class EUR Minimum Subscription € 500.00 Management Fee 1.25% Cumulative performance (%)¹ NAV 123,93 € Fund AUM €335.22M 1M 3M 6M YTD 1Y Inception* Number of holdings 21 Fund 0.18 2.16 2.06 0.58 3.45 2.36

Annualized return*

Fund statistics* Annual performance (%)¹ Fund Volatility (%) 3.14 2021 2020 2019 2018 2017 2016 Sharpe Ratio 0.65 Fund 0.58 1.53 6.05 -4.66 1.55 1.15 Information Ratio -0.86 Beta 0.86 R2 0.82 Alpha (%) -0.81 Jensen Alpha (%) -0.77 Correlation 0.90 Treynor Ratio (%) 0.02 Tracking Error 1.42

* Calculation period 3 years. Data calculated using daily values.

5 year cumulative performance

Monthly performance (%)¹

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total 2021 -0.34 -1.11 0.72 -0.61 -0.21 0.91 1.06 0.18 - - - - 0.58 2020 0.97 -0.92 -5.47 1.88 0.58 1.05 0.85 -0.04 0.69 0.12 1.73 0.28 1.53 2019 1.66 0.67 1.06 0.73 -0.62 1.71 1.10 0.72 -0.17 -0.45 -0.20 -0.29 6.05 2018 0.16 -1.04 -0.37 -0.01 -0.51 -0.23 0.33 -0.25 -0.18 -1.25 -0.43 -0.97 -4.66 2017 -0.69 0.82 0.06 0.52 0.39 -0.40 0.23 -0.09 0.37 0.82 -0.34 -0.14 1.55 2016 -0.95 -0.22 1.29 0.18 0.51 -0.12 1.33 0.48 -0.24 -0.94 -0.94 0.79 1.15

¹ Performance calculated net of fees.

Pag. 1 Portfolio breakdown

Top 10 holdings (%) 72.61 Top 5 Contributors (%) Contribution Weight Ishares Core Eur Corp Bond Ucits Etf 11.87 Amundi S&p 500 Ucits Etf - Eur (c) 0.29 8.15 Amundi Index Euro Corporate Sri Shs -ucits Etf Dr-capitalisation 9.28 Xtrackers S&p 500 Swap Ucits Etf Capitalisation 0.10 2.78 Amundi S&p 500 Ucits Etf - Eur (c) 8.15 Stoxx Europe 600 Equity Index 17/sep/2021 Sxou1 0.08 3.97 Vanguard Investment Series Plc - Euro Investment 7.48 Xtrackers Msci Emerging Markets Ucits Etf 0.04 2.10 Bluebay Funds Sicav - Bluebay Investment Grade Euro Government Bond Fund 7.32Ieur- Amundi Index Solutions Sicav - Amundi Japan 0.04 1.29 Xtrackers Ii Eurozone Government Bond Ucits Etf 6.95 Spdr Bloomberg Barclays Euro Government Bond Ucits Etf 5.81 Nordea 1 Sicav - European Covered Bond Fund Capitalisation -bi-base Currency-5.39 Top 5 Detractors (%) Contribution Weight Janus Henderson Horizon Euro Corporate Bond Fund 5.18 Vanguard Investment Series Plc - Vanguard Euro -0.02 4.36 Morgan Stanley Investment Funds Sicav - Euro Corporate Bond Fund Capitalisation5.17 Z Spdr Bloomberg Barclays Euro Government Bond -0.04 5.81 Amundi Index Euro Corporate Sri Shs -ucits Etf -0.04 9.28 Xtrackers Ii Eurozone Government Bond Ucits Etf -0.04 6.95 Ishares Core Eur Corp Bond Ucits Etf -0.05 11.87 Asset Allocation (%)

76.34% Fixed Income 76.34 Fixed Income European Corp. Bonds 49.15 European Govt. Bonds 27.19 18.45% Equity 18.45 Equity North America Equity 10.41 Europe Equity 3.78 5.20% Japan Equity 2.26 Cash Global Emerging Equity 2.00 Cash 5.20 Cash 5.20

This document is intended to provide information that summarizes the main characteristics of the product and under no circumstances constitutes a contractual agreement, a recommendation, personalized advice, an offer or solicitation. It is recommended that the KIID (Key Investor Information Document) is consulted before taking any investment decision, subscribing or purchasing shares or redeeming investments and the countries where the product is registered for sale: www.santanderassetmanagement.lu or via authorised intermediaries in your country of residence. It has not been proven that the data contained in this document meet marketing requirements of all countries of sale as it is an information and not a marketing document. This shares of this product may not be directly or indirectly offered or sold in the United States of America or to or for the benefit of a United States Person.

This fund has a prospectus which is drafted in English and can be obtained from www.santanderassetmanagement.lu

For product information, please contact SANTANDER ASSET MANAGEMENT LUXEMBOURG S.A. (6, route de Treves, L-2633 Senningerberg - Grand Duchy of Luxembourg) Management Company under the supervision of Commission de Surveillance du Secteur Financier (CSSF). The Depositary entity and administrator of the funds is JP Morgan Bank Luxembourg S.A. (6, route de Treves, L-2633 Senningerberg - Grand Duchy of Luxembourg).

Investment in mutual funds or other financial products mentioned herein may be subject to investment risks: market risk, credit risk, issuer and counterparty risk, liquidity risk, foreign currency risk and, where applicable, risks pertaining to emerging markets. Additionally, if funds hold their investments in hedge funds, assets, real estate funds, commodities and private equity, it should be noted that these can be subject to valuation and operational risks inherent in these type of assets and markets as well as the risk of fraud or risk derived from investing in unregulated or unsupervised markets or unlisted assets.

Past performance is not indicative of future results. Returns are calculated on a net asset value basis, net of fees and are annualized for periods longer than one year.

It should be clearly understood that any mention of tax depends on the individual circumstances of each investor and may change in the future. It is advisable to seek personalized advice regarding this. The distributor and other financial intermediaries may receive up to 85% of the fund management fee without incurring any additional cost to the customer.

Accounting or market information included in this document has been compiled from sources which SANTANDER ASSET MANAGEMENT LUXEMBOURG S.A. considers reliable but has not confirmed or checked for accuracy or completeness. SANTANDER ASSET MANAGEMENT LUXEMBOURG S.A. assumes no responsibility for any use of the information contained herein.