Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 305

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 305
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| Shareholder information                                  |     | •Was represented by the former committee Chair, Belén Romana, who reported at the 2024 AGM committee's activities in 2023.                                                                                                                |
| Corporate documents for 2024                             |     | •Prepared this activities report on 21 February 2025, which includes a performance review of the committee's functions and key priorities identified for 2025. The board of directors approved it on 25 February 2025.                    |

2025 Priorities

The committee set the following priorities for 2025:

• Continue to monitor the macroeconomic landscape and supervise all the Group's risks to ensure that those risks remain within our approved risk appetite. Remain focused on credit; third party risk management (including alignment with DORA, in coordination with the innovation and technology committee); operational; market; model; IT; cyber and risk derived from emerging technologies such as artificial intelligence; and financial crime compliance.

• Continue to identify emerging and non-traditional risks to anticipate potential impacts on our business model and work in partnership with the nomination committee to ensure that people and other talent related risks are properly understood and addressed.

• Supervise the main risks associated with our transformation and the five global businesses.

• Continue to monitor the overall effectiveness of the Risk and Compliance functions in discharging their critical role in the Group.

• Remain focused on ensuring that the committee discharges its role in the most tangible and effective manner.

Annual report 2024 296

| Contents |     | Business model and strategy |     | Sustainability statement |     | Corporate governance |     | Economic and financial review |     | Riskmanagement and compliance |

4.9 Responsible banking, sustainability and culture committee activities in 2024

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |     | The committee continued to analyse the divergence in public policies and actions of authorities and institutions in the countries where we operate, as well as their associated risks and the potential impact on our sustainability strategy. We kept our strong coordination with the audit committee to monitor the implementation of CSRD and non-financial disclosures in order to meet the greater expectations from stakeholders in the current complex legislative framework. 
 As part of the 2023 board effectiveness review conducted with the assistance of an external provider, we agreed to further develop the role and functioning of the committee given its important sustainability agenda, whilst leveraging on the work of other committees. These steps, together with our focus on continuous improvement, helped ensure that the committee remains effective.                                                                                        
 The committee´s