Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 183

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 183
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 Our key performance indicator for asset management is 1.59% (based on turnover) and 2.60% (based on CapEx). 96 → Our key performance indicator for insurance 97 is 1.45% (based on turnover) and 2.05% (based on CapEx). 98

→ Regarding the investment services KPI, we analysed the turnover of the Group's companies in relation to the total, noting that it accounts for less than 3% and is, therefore immaterial 99 . → Consolidated KPI: Last, per the European Commission's communiqué, we publish a consolidated KPI of all businesses, calculated as the weighted average of the applicable KPI of each business (credit institutions, asset management, insurance and investment services) based on turnover and CapEx, with weightings according to the proportion of revenue stemming from the activities covered by the corresponding KPI in their total turnover. 100 Our consolidated KPI is 2.99% (based on turnover) and 3.24% (based on CapEx). We considered net interest income and fees for the weighting of the turnover-based KPI. Please find the complete disclosure on the following pages, including the templates set out in the Taxonomy Regulation.

| For more details on how our financial strategy, product design and relations with customers and counterparties comply with the EU Taxonomy, please see the sections2. 'Supporting the green transition'and10.9 'GFANZ transition planning'. |

| For more details about GAR, please see the section"SN 7.2EUtaxonomy tables". |

94 For the asset management and insurer KPI, we included eligible and aligned transactions based on the eligibility and alignment ratios of counterparties (both in terms of CapEx and turnover).

95 C/2024/6691

96 Eligibility for climate-related targets is 10.9% based on turnover and 10.6% based on CapEx. For the remaining four objectives, eligibility is 1.0% based on turnover and 0.5% based on CapEx.

97 European Commission requirements dictate the disclosure of a KPI relating to investment and underwriting. Since the Group does not engage in underwriting relating to non-life insurance (but only markets these products), we only disclose an investment KPI.

98 Eligibility for climate-related targets is 11.7% based on turnover and 12.4% based on CapEx. For the remaining four objectives, eligibility is