(The following statement was released by the rating agency) NEW YORK, May 02

(Fitch) Fitch Ratings currently rates Banco Santander (Brasil) S.A.’s (BSB) Brazilian Real (BRL) senior unsecured notes that have a maturity of March 18, 2016 at ‘BBB’.

A reopening of this issuance for up to an additional BRL 500 million is to be issued through BSB’s Grand Cayman Branch. Coupon payments will be fixed and determined on the pricing date based on a spread over Brazilian Treasuries, and interest payments will be made semi-annually until maturity on March 18, 2016.

The additional notes will be settled in U.S. dollars (USD). The notes are part of a USD10 billion global medium-term note program of which approximately USD7 billion is currently outstanding. The net proceeds will be used by BSB for general corporate purposes. The rating assigned to BSB’s issuance corresponds to the bank’s Issuer Default Rating (IDR) (rated ‘BBB’; Outlook Negative by Fitch) and ranks equal to other senior unsecured debt. BSB’s IDRs and National ratings are driven by BSB’s current Viability Rating (VR ‘bbb’), which is one notch below the VR of its Spanish parent, Banco Santander S.A. (SAN ‘BBB+’; Outlook Negative).

BSB remains strategic for SAN, having contributed 26% of consolidated net income in 2012. BSB’s VR reflects its healthy capital and independent funding position supported by its growing franchise and conservative lending strategy and risk controls. The Rating Outlook on the Long-term IDR is Negative, reflecting the Outlook of its parent company. Fitch believes a one-notch difference between BSB’s long-term IDR and that of its parent is appropriate at this rating level. In addition, as the fourth largest bank in Brazil, and with a deposit market share of 8% of deposits, it is highly likely that the Brazilian government will provide support should it be required. As such, Fitch rates BSB’s Support Rating Floor ‘BBB-‘. SAN controls approximately 75% of BSB. The bank has been actively growing its local franchise and holds a solid position in retail and wholesale market niches, providing a broad and diversified asset base and revenue stream, backed by the deposit base and distribution capacity of one of Brazil’s leading branch networks.

Contact: Primary Analyst Robert Stoll Director +1-212-908-9155 Fitch Ratings, Inc. One State Street Plaza New York, NY 10004 Secondary Analyst Eduardo Ribas Senior Analyst +55-11-4503-2213 Committee Chairperson Franklin Santarelli Managing Director +1-212-908-0739 Media Relations: Jaqueline Carvalho, Rio de Janeiro, Tel: +55 21 4503 2623, Email: [email protected]; Elizabeth Fogerty, New York, Tel: +1 (212) 908 0526, Email: [email protected].

Additional information is available at ‘www.fitchratings.com’. Applicable Criteria and Related Research: –‘Global Financial Institutions Rating Criteria’ (Aug. 15, 2012). Applicable Criteria and Related Research Global Financial Institutions Rating Criteria here

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