Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 174

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 174
---
5.

Stakeholder views

We supplement IROs assessments with stakeholder views (affected groups and readers of the report).

The number of specific inputs received within this exercise is detailed below. These inputs are part of the constant dialogue with our stakeholders, as detailed in section 1.2. Dialogue with our stakeholders.

| Retail    
 Customers |     | Investors |     | NGOs  |     | Senior management |     | Employees |     | Regulators and supervisors84 |
| N = 9000+ |     | N = 8     |     | N = 3 |     | N = 8             |     | N = c.200 |     | N = 2                        |

The survey results show agreement in prioritizing three areas: the fight against climate change and supporting the green transition; protecting customer data; information transparency and fostering financial inclusion. Specifically:

• Retail customers prioritize social (privacy and personal data security) and governance matters (transparency and honesty).

• Employees and senior management prioritize each ESG area equally.

• Investors, regulators and NGOs prioritize environmental matters.

4. Materiality thresholds

We set a threshold of 3.5 on a scale of 1 to 5 to classify an IRO as material (for impact perspective and financial materiality). This means that we consider IROs that sit between medium (3) and high (4) as material. Taken as a reference the score calculation for the impacts, the score values greater than 3.5 represent events of medium-high severity and events with medium-high probability of occurrence.

We also assessed the reasonability and coherence of the list of IROs identified as material. In quantitative terms assuming that the distribution of the events materiality follows a normal distribution (average=3 and standard deviation = 0.5), the probability of a score value of 3.5 is around 16%, which is considered reasonable for a material event.

84 Hemos consultado a las dos principales funciones del Grupo que monitorean esta actividad

Annual report 2024 122

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

Information on impacts, risks and opportunities (IROs)

| ESRS                |     | IRO description                                                                                                                                                                                             |     | IRO type        |     | Value chain                   |     | Summary of current/potential effects (narrative)                                                                          |     | People/environment |