Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 351

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 351
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 increase in RoTE coefficient within this bracket of the scale based on the specific percentage of RoTE in 2027. C. Sustainability metrics. In the global markets we serve, our engagement to a inclusive culture is a critical driver of our business success. We have a large, diverse customer base, and it's essential that our workforce reflects and understands the varied perspectives of our clients. Our approach to hiring, training, promoting, and retaining an appropriately aligned workforce directly impacts our ability to innovate, relate to our customers and, ultimately, deliver superior results. By fostering an inclusive environment that values different backgrounds, experiences, and viewpoints, we enhance our problem-solving capabilities, improve decision-making, and boost creativity. Our focus on the composition of our workforce is about doing what's smart for our business because it means we are better positioned to maximize our financial performance and deliver enhanced value to our shareholders. Our success is intrinsically linked to the effectiveness of our team, making it a cornerstone of our strategy for sustained growth and profitability.

More specifically, for the 2025 incentive, the sustainability portion of the long-term incentive that is granted is determined based on performance in the following metrics and targets, which together determine the final payout of 20% of the portion of variable compensation tied to multi-year goals. Achievement will depend on the progress made on the Group's sustainability actions lines and associated targets (described below) 8 : 1. Women in executive positions by 2027: In those geographies where regulation or governmental policy does not support establishing specific inclusivity objectives, there will not be specific goals tied to incentive compensation and will not be included in the methodology or formula that determines an element of the total executive payout. In those instances, and to the extent permissible, they will be assessed with other Group’s initiatives, factors or projects as aspirational goals that can be a factor considered in making compensation decisions.

| Women in executive positionsB(%) |     | Coefficient |
| ≥ 39.5%                          |     |        1.25 |
| ≥ 39.2% but < 39.5%              |     |   1 – 1.25A |
| ≥ 38.4% but < 39.2%              |     |      0 – 1A |
| < 38.4%                          |     |           0 |

A. Increase of the coefficient is proportional to its position on this line of the scale. B. Executive positions make up 14% of the