Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 249

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 249
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ERS AND GENERAL MEETING
→ One share, one vote, one dividend

→ No takeover defences in our Bylaws

→ High shareholder participation at the general meeting, mostly through virtual means

→ Bylaws authorization to hold virtual-only meetings ensuring equal treatment of our shareholders

3.1 Shareholder communication and engagement

Policy on communication and engagement with shareholders and investors

Banco Santander aims to ensure its interests are in line with those of its shareholders, through sustainable growth and long-term value creation, retaining shareholders' and broader society's trust. To do that, we:

• provide information to shareholders and investors that meets their expectations and upholds our culture and values; and

• communicate and engage with them regularly so that senior managers and governance bodies consider their views.

Our policy on communication and engagement with shareholders and investors, available on our corporate website, sets out the principles that govern the aforementioned activities:

• Protection of all shareholders' rights and lawful interests. We facilitate exercising of shareholders' rights, provide them with information and give them opportunities to have a say in our corporate governance.

• Equal treatment and non-discrimination. We treat investors in the same situation equally.

• Fair disclosure. We make sure that the information we disclose is transparent, truthful and consistent according to applicable law.

• Appropriate disclosure of information. We report appropriate and relevant information to meet our shareholders’ and investors’ needs and expectations, and make sure it is clear, concise and accurate.

• Compliance with the law and corporate governance rules. We adhere closely to the laws and regulations on inside and price-sensitive information in addition to following the principles of cooperation and transparency with supervisory and regulatory bodies.

The policy also sets out:

• the roles and responsibilities of the main governance bodies and internal functions involved in communication and engagement;

• the channels for information disclosure and communication ; and

• the ways in which we engage with shareholders and investors.

The policy also applies to relations with agents that advise, recommend or guide our shareholders and investors, such as financial and ESG analysts, proxy advisers and ratings agencies.

Moreover, Banco Santander has board-approved frameworks on accounting, financial management and sustainability information and management, on responsible banking and on branding and communications. They set out the general principles, roles and key processes on the communication of financial, non-financial and corporate information, which help ensure that all our shareholders and other stakeholders are properly informed about our strategy, targets and results, as well as about our culture and values.

Engagement with shareholders in 2024

As part of