Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 696

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 696
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3) and EUR 96million corresponding to former members of senior management (EUR 88million at 31 December 2023). i) Pre-retirement and retirement The board of directors approved an amendment to the contracts of executive directors whereby they ceased to have the right to pre-retire in case of termination of his contract. j) Contract termination The executive directors and members of senior management have indefinite-term employment contracts. Executive directors or senior managers whose contracts are terminated voluntarily or due to breach of duties are not entitled to receive any economic compensation. If Banco Santander terminates the contract for any other reason, they will be entitled to the corresponding legally-stipulated termination benefit, without prejudice to any compensation that may for non-competition obligations, as detailed in the directors' remuneration policy. If Banco Santander were to terminate her contract, Ana Botín would have to remain at Banco Santander’s disposal for a period of 4months in order to ensure an adequate transition, and would receive her fixed salary during that period. k) Information on investments held by the directors in other companies and conflicts of interest None of the members of the board of directors have declared that they or persons related to them may have a direct or indirect conflict of interest with the interests of Banco Santander, S.A., as set forth in article 229 of the Corporate Enterprises Act.

Annual report 2024 638

| Contents |     | Auditor's report |     | Consolidated financial statements |     | Notes to the consolidated financial statements |     | Appendix |

6. Loans and advances to central banks and credit institutions

The detail, by classification, type and currency, of Loans and advances to central banks and credit institutions in the consolidated balance sheets is as follows:

| EUR million                                                      |     |         |     |         |     |        |
| CENTRAL BANKS                                                    |     |    2024 |     |    2023 |     |   2022 |
| Classification                                                   |     |         |     |         |     |        |
| Financial assets held for trading                                |     |  12,966 |     |  17,717 |     | 11,595 |
| Non-trading financial assets mandatorily at                      
 fair value through profit or loss                                |     |       — |     |       — |     |      — |
| Financial assets designated at fair value through profit or loss |     |       — |     |       — |     |      — |
| Financial assets designated at fair value