Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 61

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 61
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 services                             |     | l                                        |     |                     |
| Waste                                                                          |     | l                                        |     |                     |

| l |     | Very low |     | l |     | Low |     | l |     | Medium |     | l |     | High |     | l |     | Very high |

No nature-related topic or sub-topic was considered material at Group level. We monitor these and other sectors closely as part of regular updates to our nature materiality assessment. Nature and biodiversity in our ESCC policy Santander embeds nature and biodiversity conservation measures in financing and investment policies. Our global environmental, social and climate change (ESCC) risk policy 12 dictates prohibited activities that Santander will not directly invest in, or provide financial products or services to, regarding biodiversity matters: • Any projects or activities in areas classified as Ramsar Sites, 13 World Heritage Sites, or categories I, II, III or IV by the International Union for Conservation of Nature 14 (IUCN). • Any projects or expansion of existing oil & gas facilities north of the Arctic Circle.

9 The main environmental impact of our offices stems from their maintenance and how we manage the waste we generate. So far, we have not deemed it necessary to adopt biodiversity mitigation measures in our operations. Nonetheless, on certain occasions we have considered corrective or mitigation measures as part of our customer lending due diligence and in application of our ESCC policy.

10 LEAP approach: locate, Evaluate, Assess and Prepare.

11 This analysis does not consider systemic risks since no tools have been identified that include them.

12 To the extent required by applicable law, customers and transactions involving activities enumerated in this section will be subject to an enhanced due diligence process to determine the unique risks presented prior to decisioning.

13 The Convention on Wetlands (known as the Ramsar Convention) is an intergovernmental treaty that provides the framework for the conservation and wise use of wetlands and their resources.

14 The International Union for Conservation of Nature (IUCN) (iucn.org) classifies protected areas according to their environmental management objectives: Category I: Nature Reserve and Wilderness Areas, Category II: National Park, Category III: Natural Monument or Feature, Category IV: Habitat/Species Management Area.

Annual report 2024 55

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

• Extraction and sale of native tropical wood species not certified by