Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 854

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 854
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| Financing classified as non-current assets and disposable groups of items that have been classified as held for sale |     |                        |         — |                        |     |     — |              |                     |       — |              |     |     — |              |                                                                |     — |                       |     |     — |                         |     |     — |                                                                                        |

In 2024, the amortised cost of financial assets whose contractual cash flows were modified during the year when the corresponding loss adjustment was valued at an amount equal to the expected credit losses over the life of the asset amounted to EUR 3,940million ( 2,902million in 2023), without these modifications having a material impact on the income statement. Also, during 2024, the total of financial assets that have been modified since the initial recognition, and whose correction for expected loss has gone from being valued during the entire life of the asset to the following twelve months, amounts to EUR 2,950million ( 2,804million in 2023). The transactions presented in the foregoing tables were classified at 31 December 2024 by nature, as follows: • Credit impaired: Operations that rest on an inadequate payment scheme will be classified within the non-performing category, regardless they include contract clauses that delay the repayment of the operation throughout regular payments or present amounts written off the balance sheet for being considered irrecoverable. • Performing: Operations not classifiable as non-performing will be classified within this category. Operations will also be classified as normal if they have been reclassified from the non-performing category for complying with the specific criteria detailed below: a. A period of a year must have passed from the refinancing or restructuring date.

Annual report 2024 812

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

b. The owner must have paid for the accrued amounts of the capital and interests, thus reducing the rearranged capital amount, from the date when the restructuring of refinancing operation was formalised. c. The owner must not have any other operation with amounts past due by more than 90consecutive days of material delay on the date of the reclassification to the normal risk category. Attending to the credit attention 46% of the forborne loan transactions are classified as other than non-performing. Particularly noteworthy are the level of existing guarantees ( 50% of transactions are secured by collateral) and the coverage provided by specific allowances