Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 839

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 839
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 mortgage portfolio for the acquisition of homes in Spain is characterised by its medium-low risk profile, which limits expectations of any potential additional impairment: • Principal is repaid on all mortgages from the start. • Early repayment is common so the average life of the transaction is well below that of the contract. • High quality of collateral, concentrated almost exclusively in financing for first homes. • The average affordability rate stood at 24% ( 24% and 26% in 2023 and 2022, respectively). • The 93% of the portfolio has a LTV below 80% calculated as total risk/latest available house appraisal. • All customers applying for a residential mortgage are subject to a rigorous credit risk and viability assessment, analysing whether their income is sufficient to meet all repayments and will remain stable over the term of the loan.

Annual report 2024 799

| Contents |     | Auditor's report |     | Consolidated financial statements |     | Notes to the consolidated financial statements |     | Appendix |

Breakdown of the credit with mortgage guarantee to households for house acquisition, according to the percentage that the total risk represents on the amount of the latest available valuation (loan to value):

|                   |     |                2024 |        |                           |     |        |                                 |     |        |                                 |     |       |                                              |     |     |                |     |        |       |
|                   |     | Loan to value ratio |        |                           |     |        |                                 |     |        |                                 |     |       |                                              |     |     |                |     |        |       |
| EUR Million       |     |                     |        | Less than or equal to 40% |     |        | More than 40% and less than 60% |     |        | More than 60% and less than 80% |     |       | More than 80% and less than or equal to 100% |     |     | More than 100% |     |        | Total |
| Gross amount      |     |                     | 17,205 |                           |     | 20,085 |                                 |     | 17,955 |                                 |     | 2,925 |                                              |     | 938 |                |     | 59,108 |       |
| Of which impaired |     |                     |    114 |                           |     |    167 |                                 |     |    189 |                                 |     |