Company: BCDRF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000891478-25-000113
Chunk: 167

Company: Banco Santander, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 167
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 to an enlarged group;

• managing a growing number of entities without over-committing management or losing key personnel; and

• meeting the expectations of regulators and our clients, shareholders and other stakeholders.

Furthermore, there is no assurance that changes to our operating model, such as the change that became effective on 1 January 2024, which included the reorganization of our primary and secondary segments, will yield all of the expected benefits in the timeframes that we expect.

Any failure to manage growth effectively, an inability to successfully adapt to changing conditions or to execute successfully any of our strategic actions, or any changes in our business practices, operational framework, strategic objectives, corporate priorities, internal policies and procedural guidelines could have a material adverse effect on our operating results, financial condition and prospects.

| 176 |     | January - June 2025 |

## ITEM 5. INFORMATION ON THE COMPANY

#### 5.1. Average balance sheets and interest rates
The following tables include, by domicile of the Group entity at which the relevant asset or liability is accounted for, our average balances and interest rates for the six months ended 30 June 2025 and 2024. Domestic balances are those of the Group entities domiciled in Spain, which reflect our domestic activities, and international balances are those of the Group entities domiciled outside of Spain, which reflect our foreign activities.

The Poland disposal has impacted year-on-year variations in the information presented herein, primarily as follows:

• In the statutory income statement, the results associated with the businesses subject to the Poland disposal are reported under a single line in the consolidated income statement — 'profit/(loss) after tax from discontinued operations' — for the six month-periods ended 30 June 2025 and 2024. Consequently, the results associated with the businesses subject to the Poland disposal are excluded line by line from the breakdown of continuing operations in both periods. Due to such reclassification, the consolidated income statement data for the six month-period ended 30 June 2024 differs from the consolidated income statement data for such period filed with the SEC on 26 July 2024. All other figures remain unchanged.

• In the consolidated balance sheet, the assets associated with the businesses subject to the Poland disposal are classified under the 'non-current assets held for sale' line item and the related liabilities under 'liabilities associated with non-current assets held for sale'. This classification applies solely to the balance sheet as of 30 June 2025 and does not affect prior periods. However, to facilitate meaningful