Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 579

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 579
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 Comisión Nacional del Mercado de Valores (CNMV), and other regulatory bodies where Santander is a publicly traded company. The core elements of corporate compliance are:

12 A set of potential negative impacts relating to ESG factors (environmental, social and governance), considered as material by the Group according to the corporate risk framework.

Annual report 2024 543

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

A. Employees

We promote a culture of ethics and compliance among our employees, with standards for preventing corporate financial crime risk, conflicts of interest and anti-competitive practices according to the General Code of Conduct (GCC). To support this, we operate Canal Abierto, Grupo Santander´s whistleblowing channel, through which employees and other stakeholders can anonymously and confidentially report financial and accounting irregularities, as well as violations of internal or external regulations and our corporate behaviours.

| Employees’ compliance                                                                       |     |                                                                                                                |     |                         |     |                                                                                                                         |
| Canal Abierto                                                                               |     |                                                                                                                |     | Training and awareness  |     |                                                                                                                         |
|                                                                                             |     | →Provide a channel for employees to report unethical conduct and breaches of internal or external regulations. 
 →Manage and investigate reported cases.                                                                        
 →Promote a culture of speaking up and truly listening.                                                         |     |                         |     | →Develop employee training programmes and awareness campaigns on corporate defense, anti-trust and employee compliance. 
 →Issue messages about ethics to the entire Group to build relationships based on trust.                                 |
| Disciplinary proceedings                                                                    |     |                                                                                                                |     | Policies and procedures |     |                                                                                                                         |
|                                                                                             |     | →Investigate conduct that is misaligned with our ethics and compliance principles.                             
 →Assess disciplinary measures.                                                                                 |     |                         |     | →Promote compliance with the GCC and enact special policies and procedures to enforce it.                               
 →Report to governing bodies regularly.                                                                                  |
| Appointments                                                                                |     |                                                                                                                |     | Queries about ethics    |     |                                                                                                                         |
|                                                                                             |     | →Assess the suitability of the Group’s board and senior management nominations.*                               |     |                         |     | →Manage queries from employees and members of governing bodies about ethics and internal regulation.                    |
| (*) Run by the Corporate Centre, Corporate Compliance, Legal and Internal Governance areas. |