Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 225

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 225
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 strategy that should guide the Group's progress in sustainability. Two of our strategic pillars focus on supporting our customers in their transition to a low-carbon economy and being the trusted reference for our customers with a product and service offering tailored to their needs and supporting their inclusion. For more details on how we support customers in their transition see section 2.2 Supporting our customers in their transition goals, while supporting customers in their financial inclusion can be found on section 3.3.2 Financial inclusion and financial health

| Principle 4  
 Stakeholders |

We proactively and continuously engage with our key stakeholders - customers, employees, investors, and NGOs - through various channels, mainly surveys. This helps us to understand their priorities and concerns. In addition, we also interact with other stakeholders such as our suppliers, rating agencies and supervisors and regulators, and engage and learn through initiatives on key issues on our agenda. For more details see section 1.2. Stakeholder Engagement

| Principle 5          
 Governance & culture |

The Group's board of directors is responsible for approving the sustainability strategy. The board's responsible banking, sustainability and cultural committee oversees the development of the strategy and policies. At the executive level, the management meeting periodically reviews sustainability issues. Sustainability is also present in both short and long term remuneration schemes. There is mandatory sustainability training for employees, and other courses cover specific needs of some teams. For more details see sections 1.4 Sustainability governance and 3.1.1 Talent and skills development

| Principle 6                   
 Transparency & accountability |

Our sustainability report has been verified through a limited review by an independent third party. For more details on verification see section SN 12 . 'Independent verification report' . Santander Group, based in Europe, is required to comply with the new sustainability disclosure directive and Spanish law 11/2018. Santander has also published a table of equivalences with the global sustainability standard, ISSB, and has provided information on how it complies with objectives such as the Global Compact. For more details see sections 1.2. Stakeholder Engagement and Sustainability notes.

Annual report 2024 227

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

#### 4. GFANZ transition planning content index
|                                              |     | GFANZ recommendations                                                                    |     | Reference in this report                                                                                          |
| Foundations                                  |     | Objectives and priorities