Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 716

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 716
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 linked to the financing of export contracts or the internationalization of companies. The fair value of the guarantees received by the Group (financial and non-financial assets) which the Group is authorised to sell or pledge even if the owner of the guarantee has not defaulted is scantly material taking into account the Consolidated financial statements as a whole.

Annual report 2024 665

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

#### 23. Subordinated liabilities
a) Breakdown

The detail, by currency of issue, of Subordinated liabilities, deposits and marketable debt securities, in the consolidated balance sheets is as follows:

|                        |     | EUR million |        |        |     |        |        |     |        |        | 2024 |     |                                                        |     |                          |
|                        |     |             |        |   2024 |     |        |   2023 |     |        |   2022 |      |     | Outstanding issue amount in foreign currency (million) |     | Annual interest rate (%) |
| Currency of issue      |     |             |        |        |     |        |        |     |        |        |      |     |                                                        |     |                          |
| Euro                   |     |             |        | 14,999 |     |        | 13,684 |     |        | 12,940 |      |     |                                                 14,999 |     | 4.11%                    |
| US dollar              |     |             |        | 13,425 |     |        | 11,300 |     |        |  8,438 |      |     |                                                 13,948 |     | 6.27%                    |
| Pound sterling         |     |             |        |  1,409 |     |        |  1,353 |     |        |  1,358 |      |     |                                                  1,169 |     | 4.30%                    |
| Brazilian real         |     |             |        |  3,600 |     |        |  2,518 |     |        |  1,127 |      |     |                                                 23,139 |     | 14.01%                   |
| Other currencies       |     |             |        |  2,380 |     |        |