Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México announced that, on the date hereof, its Board of Directors approved the appointment of Mr. Felipe García Ascencio as Chief Executive Officer of the Bank, replacing Mr. Héctor Grisi Checa. Mr. Héctor Grisi will remain as Executive Chairman and Chief Executive Officer of Grupo Financiero Santander México (the "Group") until December 31, 2022. Mr. Felipe García Ascencio has a degree in Economics from the Instituto Tecnológico Autónomo de México and a master's degree in economics from the London School of Economics and Political Science.

He has broad experience in the Mexican financial industry and he has worked in the Group as Head of Mexico's Corporate Investment Banking (SCIB). Previously, he worked at Credit Suisse for 18 years in different positions, the last of which was Head of Corporate & Sovereign Latam Coverage, a part of the Global Markets division. Mr. Felipe Garcia Ascencio also worked at Goldman Sachs and the Ministry of Finance and Public Credit (Secretaría de Hacienda y Crédito Público).