Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 300

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 300
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 | Corporate governance |     | Economic and financial review |     | Riskmanagement and compliance |

| Duties                                                   |     | Actions taken                                                                                                                                                                                                          |
| Information for general meetings and corporate documents |     |                                                                                                                                                                                                                        |
| Shareholder information                                  |     | •Was represented by the former committee Chair, Bruce Carnegie-Brown, who reported at the 2024 AGM on the committee's activities in 2023.                                                                              |
| Corporate documents for 2024                             |     | •Prepared this activities report on 24 February 2025, which includes a performance review of the committee's functions and key priorities identified for 2025. The board of directors approved it on 25 February 2025. |

2025 priorities

The committee set the following priorities for 2025:

• Continue to supervise succession arrangements for the board as a whole, playing an important role in ensuring that succession planning more generally is discharged in an effective manner. Continue to take its proactive approach to board refreshment and associated succession planning, considering previous board effectiveness review outcomes and other relevant factors.

• Keep a proactive focus on senior executive succession planning based on the Group’s strategic needs, and the potential challenges the business may face, maintaining our attention to the continued development of our internal succession pipeline and to a merit-based culture of equal opportunity and inclusion. Ensure that people and other talent related risks are properly understood and addressed in coordination with the risk supervision, regulation and compliance committee.

• Continue to promote that leadership and talent traits and associated characteristics as a catalyst of The Santander Way, ensuring that it serves as the glue to keep everyone committed together to the transformation. Further promote an inclusive workplace to facilitate the success of our senior leaders and teams.

• Keep our corporate governance arrangements under constant review to make sure they continue to consider all stakeholders’ interests with strategic relevance for the Group by closely monitoring shareholder engagement and, together with the Lead Independent Director, by taking into account their feedback and insights. In particular, monitor shareholder experience and results of the 2025 AGM, including the feedback received on the format under which it was held and reporting on this to the board.

• Monitor the implementation of CSRD in Spain and assess changes to the internal regulation that may be required in coordination with the audit committee.

• Remain focused on ensuring that the board and its committees discharge their role in the most tangible and effective manner. As part of that, monitor the effective implementation of the action plan derived from the 2024 board effectiveness review, in line with our commitment to continuous governance