Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 323

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 323
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 |                     |      | 3,000 |                                   |        |   660 |     |       | 3,660 |
| Total        |     |                     |      | 6,585 |                                   |        | 1,449 |     | 8,034 |     |                     |      | 6,271 |                                   |        | 1,380 |     | 7,651 |       |

A. Additionally, Ana Botín received in 2024 and 2023 EUR 525 thousand as a fixed remuneration supplement. Héctor Grisi did not receive fixed remuneration supplement.

B. Variable remuneration i) General policy for 2024 The board approved the executive directors’ variable remuneration on the remuneration committee’s recommendation, according to the policy approved at the general shareholders' meeting: • Variable components 1 of executive directors’ total remuneration in 2024 should represent less than 200% of fixed components, as established by resolution of the AGM on 22 March 2024. • At the beginning of 2025, on the remuneration committee’s recommendation, the board approved the final amount of the 2024 incentive, based on the bonus pool calculated in accordance with the directors' remuneration policy approved at the general shareholders' meeting on 22 March 2024, and in consideration of: • Short-term quantitative metrics measured against annual objectives. • A qualitative assessment that cannot adjust the result by more than 25 percentage points upwards or downwards. While the metrics considered are qualitative, the assessment is not discretionary. Rather, it is based on an assessment of objective, measurable and audited goals, as described below. • An exceptional adjustment that, if applicable, must be supported by evidence. • The final 2024 individual incentive is determined based on the bonus pool payout, the executive director’s target bonus and the individual performance resulting from (i) their individual objectives (which generally match the Group’s and cover financial, risk management and solvency position, as well as fostering the five global businesses: Payments, Digital Consumer Bank, Retail & Commercial Banking, CIB and Wealth; and accelerating the transformation of the Bank into One Santander, with a special focus on IT, people and the sustainability agenda); and (ii) how they achieve them in consideration of how they manage employees and follow the corporate values.

| Individual target bonus |     | Quantitative metrics and qualitative assessmentA |     | Individual performance |     |