Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 9

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 9
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'24 attributable profit +15% vs. FY’23; FY'24 revenue +10% vs. FY’23. For more information on figures presented in constant euros and the alternative performance measures presented above and across this chapter, see section 8. 'Alternative performance measures' .

TNAVps + Cash dividend per share (DPS) includes the €9.50 cent cash dividend per share paid in May 2024 and the €10.00 cent interim cash dividend per share paid in November 2024. Growth in Cash DPS corresponds to the total cash dividend per share paid during 2024 compared to the cash dividends per share paid during 2023. For more details, see section 3.3 ‘Dividends and shareholder remuneration ’ in the ‘Corporate governance’ chapter. Implementation of the shareholder remuneration policy is subject to future corporate and regulatory decisions and approvals.

We delivered on all our financial targets, which we upgraded in the Q2'24 earnings presentation A

|                  |     | 2024 targetsA            |     | 2024 achievements |     |   |
| RevenueB         |     | High-single digit growth |     | +10%              |     | ü |
| Efficiency ratio |     | c.42%                    |     | 41.8%             |     | ü |
| CoR              |     | c.1.2%                   |     | 1.15%             |     | ü |
| FL CET1          |     | >12%                     |     | 12.8%             |     | ü |
| RoTE             |     | >16%                     |     | 16.3%             |     | ü |

A. Some targets were upgraded in the Q2'24 results presentation: i) revenue from mid-single digit growth to high-single digit growth; ii) efficiency ratio from <43% to c.42%; iii) RoTE from 16% to >16%. FL CET1 target >12% after FL Basel III implementation, FL definition as of 1 January 2025.

B. YoY change in constant euros.

Annual report 2024 10

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

Over the last 10 years our transformation and unique business model have consistently delivered profitable growth

A. Total shareholder remuneration charged against the results