Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 158

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 158
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 Consumer Bank operates such as Italy.                                                                                                                                                |

Significant changes in criteria with respect to the 2023 Sustainability Report are reflected in the corresponding section of this chapter, and generally in section h) of this note.

For a list of subsidiaries included in the consolidation that are exempt from individual or consolidated sustainability reporting pursuant to article 19a or 29a(8) of Directive 2013/34/EU, see Annex 1. Subsidiaries of Banco Santander, S.A. in the ‘Audit report and consolidated annual accounts'. Of this list, the following companies are required to report sustainability information under CSRD:

• Santander Consumer Bank AS (in Norway)

• Santander Bank Polska S.A. (in Poland)

• Stellantis Banque France (in France)

Other companies that meet the requirements established by the standard but are located in countries where the directive has not been transposed are not considered obliged to report under the CSRD.

Moreover, the Group has not applied the exemption in relation to the breakdown of information on upcoming events or matters under negotiation.

From 1 January 2025 to the date on which we prepared this Consolidated non-Financial Information Statement, there were no additional events that could have a significant impact on the information set out in this report other than those described in the consolidated annual accounts.

For more details, see Notes 1 , 2 , 3 and 53 to the consolidated report and sections 3 and 4 of the ‘Economic and financial review’ chapter.

Annual report 2024 108

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

#### c) Value chain
Banco Santander has a defined value chain that identifies all the actors involved in it. It considers the entire consolidation scope set out in the bank’s Annual Report. This chart illustrates our value chain. It is split into three main groups (upstream, own operations and downstream) and shows the actors in each one:

To define the value chain, the Group considered the indications of Regulation 2022/2464 (paragraph 33); Delegated Regulation 2023/2772 (ESRS 1); and the EFRAG (European financial reporting advisory group) Value Chain Implementation Guidance.

These are the definitions we used:

Upstream : Set of activities or processes carried out by companies that are part of the bank’s upstream phases and that