Company: BCDRF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000891478-25-000113
Chunk: 151

Company: Banco Santander, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 151
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 our more significant subsidiaries;

• our exposure to operational losses (e.g., failed internal or external processes, people and systems or liabilities derived from utilizing artificial intelligence);

• potential losses associated with cyberattacks, data breaches, data losses and other security incidents;

• limitations in our disclosure controls and procedures over financial and non-financial reporting;

• changes in our ability to recruit, retain and develop appropriate senior management and skilled personnel;

• the occurrence of force majeure, such as natural disasters, epidemics and pandemics, that impact our operations or impair the asset quality of our loan portfolio;

• the impact of changes in the composition of our balance sheet on future interest income / (charges); and

• our own decisions and actions including those affecting or changing our practices, operations, priorities, strategies, policies or procedures.

| 166 |     | January - June 2025 |

The forward-looking statements contained in this report on Form 6-K speak only as of the date of this report. We do not undertake to update any forward-looking statement to reflect events or circumstances after that date or to reflect the occurrence of unanticipated events.

| January - June 2025 |     | 167 |

## ITEM 3. SELECTED FINANCIAL DATA
We have selected the following financial information from our consolidated financial statements. You should read this information in connection with, and it is qualified in its entirety by reference to, our consolidated financial statements included in Part 1 of this report on Form 6-K.

From 1 January 2023 we apply retrospectively IFRS 17 'Insurance Contracts and amendments to IFRS 17' which did not have material equity impacts except for a balance sheet reclassification for an amount of approximately EUR 16 billion as of 31 December 2022 from a portfolio of products registered in 'Customer deposits' to 'Liabilities covered by insurance or reinsurance contracts'. See note 1.b to our consolidated financial statements in Part 1 of our 2024 Form 20-F.

In May 2025 we agreed to sell approximately 49% of the share capital of our subsidiary in Poland, Santander Bank Polska, S.A., to Erste Group Bank AG, as well as the 50% of Santander Towarzystwo Funduszy Inwestycyjnych S.A. (the asset management business in Poland) owned directly by Banco Santander, S.A. (see notes 2 and 6 to our interim consolidated financial statements in Part 1 of