Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 236

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 236
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 best talent to fulfil our strategy now and in the future. We will maintain our proactive approach to senior management succession planning, based on the Group's strategic needs.

→ Culture

We will continue to monitor the embeddedness of agile methodologies and more flexible organizational structures across the Group to promote a more collaborative and multidisciplinary way of working that results in a greater customer focus.

→ Progressing in our sustainability goals

We will oversee the fulfilment of our sustainability goals striking a balance between financing our customers in their transition to a low carbon economy and the different political and regulatory approaches. In addition, we will continue taking care of the sustainability agenda, in line with our aim to help people and businesses prosper.

→ Long-term shareholder value

The board will promote the generation of long-term and sustainable shareholder value creation through consistent returns growth while maintaining our robust capital management discipline. This will ensure strong shareholder remuneration and the resources required to deliver our strategy.

→ Governance effectiveness

We will continue to enhance the overall effectiveness of the board and its committees, with an appropriate composition and ensuring that their role is discharged in the most tangible and effective manner.

Annual report 2024 240

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

#### 2. OWNERSHIP STRUCTURE
#### →

#### Broad and balanced shareholder base
#### →

#### A single class of shares
→ Authorized capital consistent with best practice to provide the necessary flexibility

2.1 Share capital Our share capital comprises ordinary shares, each with a par value of EUR 0.50. Every share belongs to the same class and carries the same voting, dividend and other rights. We do not have any bonds or securities that can be converted into shares other than the contingent convertible preferred securities (CCPS) mentioned in section 2.2 'Authority to increase capital' . As at 31 December 2024, Banco Santander's share capital amounted to EUR 7,576,246,161, divided into 15,152,492,322 shares. In 2024, we amended our share capital three times, reducing it on each occasion: • Two through the cancellation of the shares repurchased under the buyback programmes that formed part of the shareholder remuneration policy for 2023: • one by EUR 179,283,744 (c. 2.22% of share capital), under the authorization of the 2023 AGM and