Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 709

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 709
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 70 |      |
| Exchange differences and other changes                                    |     |   -164 |      |     |    -2 |      |     |    56 |      |
| Balance at end of year                                                    |     |  7,277 |      |     | 7,646 |      |     | 7,615 |      |

A. Includes the acquisition of 20% of Pluxee Beneficios Brasil, S.A. and the capital increase of Merlin Properties, SOCIMI, S.A.

B. Stake in Caceis (Notes 3 and 12).

c) Impairment adjustments During the years 2024, 2023 and 2022 there was no evidence of significant impairment in the Group's associated interests.

Annual report 2024 650

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

d) Other information A summary of the financial information at the end of December 2024 of the main associates and joint ventures (obtained from the information available at the date of preparation of the consolidated financial statements) is shown below:

| EUR million                                              |     |                                  |        |     |                    |       |     |       |                               |     |        |                                                         |     |       |               |     |                |      |                                                     |     |       |                             |     |       |                            |     |       |                               |     |       |                                                                  |     |       |                       |
|                                                          |     | Associates                       |        |     |                    |       |     |       |                               |     |        |                                                         |     |       |               |     | Joint ventures |      |                                                     |     |       |                             |     |       |                            |     |       |                               |     |       |                                                                  |     |       |                       |
|                                                          |     | Merlin Properties, SOCIMI, S.A.A |        |     | Metrovacesa, S.A.A |       |     |       | Pluxee Beneficios Brasil S.A. |     |        | Zurich Santander Insurance América, S.L. - Consolidated |     |       | CNP Santander |     |                |      | Santander Caceis Latam Holding, S.L. - Consolidated |     |       | U.C.I., S.A. - Consolidated |     |       | Hyundai Capital UK Limited |     |       | Fortune Auto Finance