Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 816

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 816
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 statutory consolidated income statement.

E. Net loan-loss provisions refers to Impairment or reversal of impairment at financial assets not measured at fair value through profit or loss and net gains and losses from changes line item in the statutory income statement. Additionally, includes a release of EUR 24mainly corresponding to the results by commitments and contingent risks includes in the line of the statutory income statement of provisions or reversal of provisions.

F. Other gains (losses) and provisions includes the following line items in the statutory income statement, which are presented net for internal reporting and management reporting purposes: Provisions or reversal of provisions except for a release of EUR 24mainly corresponding to results from commitments and contingent risks; Impairment of investments in joint ventures and associates, net; Impairment on non-financial assets, net; Gains or losses on non-financial assets, net; Negative goodwill recognized in results and Gains or losses on non-current assets held for sale not classified as discontinued operations

Explanation of adjustments: • Temporary levy on revenue in Spain in the first quarter, totalling EUR 224million, which was moved from total income to other gains (losses) and provisions. • Additional provisions for specific cases in the wholesale portfolio of Brazil for an amount of EUR 235million, net of tax and non-controlling interests (EUR 474million recorded in net loan-loss provisions, EUR 213million positive impact in tax and EUR 26million in non-controlling interests).

Annual report 2024 783

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

| EUR million                                               |     |         |                   |     |      |             |     |         |                    |
| 2022                                                      |     |         |                   |     |      |             |     |         |                    |
| Reconciliation of statutory results to underlying results |     |         | Statutory results |     |      | Adjustments |     |         | Underlying results |
| Net interest incomeA                                      |     |  38,619 |                   |     |    — |             |     |  38,619 |                    |
| Net fee income                                            |     |  11,790 |                   |     |    — |             |     |  11,790 |                    |
| Gains (losses) on financial transactionsB                 |     |   1,653 |                   |     |    — |