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

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 25
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 Resource use & circular economy |     |        |     |   |     |           |     |             |
| ÿ |     | S1: Own workforce                   |     |        |     |   |     |           |     |             |
|   |     | S2: Workers in the value chain      |     |        |     |   |     |           |     |             |
| ÿ |     | S3: Affected Communities            |     |        |     |   |     |           |     |             |
| ÿ |     | S4: Consumers & end-users           |     |        |     |   |     |           |     |             |
| ÿ |     | G1: Business conduct                |     |        |     |   |     |           |     |             |

| ÿMaterial |     | Thresholds: |

| g | Critical |     | g | Significant |     | g | Informative |     | g | Minimal |

As a global, retail and commercial bank , the material IROs relate mainly to the retail and commercial business (business conduct, customer practices and safeguarding privacy) and to our scale (contributing to global challenges such as climate change and financial inclusion, and managing our 200,000-plus employees). We conduct this assessment for the entire Group, including our own operations and our value chain, using the available information and tools; and by engaging our key stakeholders. We also conducted a materiality assessment in all our subsidiaries, the findings of which provided feedback on the Group's materiality, while the Group's materiality informed local materiality. The results reflect a short to medium-term time horizon (~1-5 years) for which most of the information is available. However, a qualitative analysis suggests that if we used a long-term horizon, there would be no changes to the results and IROs that are material. The materiality assessment is connected to key risk management processes across the Group . It provides input for the top and

emerging risks exercise and is connected to other internal risk exercises .

| For more details, see section2.3 'Embedding ESG in risk management' |

The responsible banking, sustainability and cultural committee approved the bank’s double materiality assessment, material impacts, risks and opportunities, and sustainability strategy. Below are details of the material IROs under each sustainability matter. In this Sustainability statement, we outline how we manage each one through policies, actions, metrics and targets (as