Company: BCDRF
Filing Date: 2025-03-03
Form Type: 6-K
Source: 0000891478-25-000057
Chunk: 218

Company: Banco Santander, S.A.
Filing Date: 2025-03-03
Form: 6-K
Chunk 218
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 Shareholders’ Meeting, describes:

• The functions of the remuneration committee regarding the remuneration of directors, members of senior management and other executives whose work could have a material impact on the Group’s risk profile at consolidated level.

• The composition of the remuneration committee, directors’ attendance at meetings, the involvement of board members on other committees, the approximate time dedicated to each task and how the committee operates.

• The principles of the remuneration policy of directors, in their capacity as such or for their performance of executive duties, and the corporate governance principles regulating remuneration.

• The 2024 remuneration policy for directors and senior management, focusing especially on variable remuneration and how it was applied in the year.

• And the changes in the principles or in the composition of the Board Members' remuneration in terms of the performance of their supervisory tasks and collective decision-making, with respect to those established in 2024, for the years 2025, 2026 and 2027

The Board of Directors is responsible for approving the remuneration of directors and senior management, as well as the core payment terms of other executives and employees who, while not belonging to senior management, take on risks, carry out control functions (i.e. Internal Audit, Risk Management and Compliance) or receive total remuneration that places them in the same remuneration bracket as senior management, and employees who take on risk and whose professional activities may have a material impact on the Group’s risk profile. All of these, together with the senior management and the Company’s Board of Directors, are known as 'Corporate identified staff' or Corporate Material Risk Takers).

The corporate governance chapter of the Annual report also includes the following Pillar 3 disclosures:

• The decision-making process for setting the remuneration policy of directors, senior management and the core elements of the remuneration of identified staff.

• The basic features of the remuneration components.

• Information on the criteria applied for assessing the metrics that determine the variable remuneration of directors and senior management and their adjustment according to risk, as well as the results of the metrics for directors.

• The deferral policy and other conditions linked to the payment of variable remuneration, including the application of malus and clawback provisions.

306 2024 Pillar 3 Disclosures Report

| Index |     | Introduction |     | Capital |     | Risks |     | Risk taker's remunerations |     |