Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 701

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 701
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 (EIGR)A |     |   447 |      |     |  -162 |      |     |  -497 |      |
| Changes in the RV hedged with micro-hedging transactions                                                          |     |    20 |      |     |   -29 |      |     |    18 |      |
| Balance at end of year                                                                                            |     | 2,193 |      |     | 1,761 |      |     | 1,941 |      |

A. They do not include fair value movements for currency risk hedged with hedging instruments.

c) Notifications of acquisitions of investments The notifications of the acquisitions and disposals of holdings in investees made by the Bank in 2024, in compliance with Article 155 of the Spanish Limited Liability Companies Law and Article 105 of Spanish Securities Market Law 24/1998, are listed in appendix IV.

Annual report 2024 642

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

9. Trading derivatives (assets and liabilities) and short positions

a) Trading Derivatives

The detail, by type of inherent risk, of the fair value of the trading derivatives arranged by the Group is as follows (see note 11):

| EUR million        |     |      |        |               |     |        |                |      |        |               |     |        |                |      |        |               |     |        |                |
|                    |     | 2024 |        |               |     |        |                | 2023 |        |               |     |        |                | 2022 |        |               |     |        |                |
|                    |     |      |        | Debit balance |     |        | Credit balance |      |        | Debit balance |     |        | Credit balance |      |        | Debit balance |     |        | Credit balance |
| Interest rate risk |     |      | 30,834 |               |     | 24,754 |                |      | 31,480 |               |     | 26,014 |                |      | 38,789 |               |     | 37,641 |                |
| Currency risk      |     |      | 29,395 |               |     | 29,110 |                |      | 22,834 |               |     |