Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 285

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 285
---
 coordinate her succession plans.                                                                                                                                |     | Led the Executive Chair's annual performance review in order to determine her variable pay. Furthermore, he coordinated her succession planning activity, facilitated through his membership of the nomination committee.                                                                                                                                                                                                                                                                   |
| Engage with shareholders and other investors to learn of their concerns, especially with regard to Banco Santander's corporate governance.                                                                                                |     | See section3.1 'Shareholder communication and engagement'for full details of the Lead Independent Director’s activities.                                                                                                                                                                                                                                                                                                                                                                    |
| Replace the Chair in her absence, with such key rights as the ability to call board meetings under the terms of the Rules and regulations of the board.                                                                                   |     | Whilst the Executive Chair was able to chair all board meetings, there were specific instances where the Lead Independent Director assumed the chairship of the board, mainly driven by the nature of the topic being discussed and the Executive Chair's potential vested interest, being therefore recused for those discussions.                                                                                                                                                         |
| Request a board meeting or that new items be added to the agenda.                                                                                                                                                                         |     | While the Lead Independent Director did not need to request additional board meetings to be called, he remained fully engaged in, and informed of, board meeting agendas to add additional items as required.                                                                                                                                                                                                                                                                               |

#### Structure of board committees
Board committees support the board in three main areas:

• Managing the Group by exercising decision-making powers through the executive committee.

• Formulating strategy for core areas through the responsible banking, sustainability and culture committee, and the innovation and technology committee.

• Supervising and making important decisions through the audit committee, nomination committee, remuneration committee and risk supervision, regulation and compliance committee.

Annual report 2024 272

| Contents |     | Business model and strategy |     | Sustainability statement |     | Corporate governance |     | Economic and financial review |     | Riskmanagement and compliance |

The board has seven committees under this structure:

| Mandatory committeesA |     | Executive 
 committee |     |                                                                                                                                                      |     | Audit     
 committee |     | Nomination 
 committee  |     | Remuneration 
 committee    |     | Risk supervision,regulation andcompliance committee |
| Decision-making       
 powers                |     |           |     | Supervision, information, advice and recommendations regarding functions in risk, financial reporting and audit, nomination and remuneration matters |     |           |     |            |     |              |     |                                                     |

| Voluntary committees                    |     | Responsible banking, sustainability and