Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 224

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 224
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 and 3.2.4.iii |     |                                                                                                                                                                                                                                                |     | For more details, see sections1.2, 2.2.5, and 4.4.1            |     | For more details, see sections 2.1.1, and 2.3                                                                                                                                                                   |     |                                                                                                                                                                    |
|                                                                             |     | SDGs 16.5, 16.6, 16.7                                                                                                                                                                                                                          
 We promote transparency, the fight against corruption and robust governance across our organization. Our policies and codes of conduct regulate our business and behaviour and steer our objectives towards a more responsible banking system. |     |                                                                |     | SDG 17                                                                                                                                                                                                          
 We participate in prominent local and international initiatives and working groups.                                                                                                                             |     |                                                                                                                                                                    |
| For more details, see sections 1.2, and 4.2.3                               |     |                                                                                                                                                                                                                                                |     | For more details, see section 1.2                              |     |                                                                                                                                                                                                                 |     |                                                                                                                                                                    |

Annual report 2024 226

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

3. Our progress in relation to the Principles for Responsible Banking UNEP FI

| Principle 1 
 Alignment   |

Grupo Santander has integrated sustainability into its corporate strategy. Our sustainability strategy focuses on issues that are material to Santander, i.e. those that pose the biggest risks to, and create the best opportunity for, the bank; and where we can have the biggest impact. For more details on our Strategy alignment and our business model, please see section 1.1 'Sustainability strategy' .

| Principle 2             
 Impact & target setting |

In 2024 we performed a double materiality assessment to identify the material impacts, risks and opportunities (IROs). As results we found five matters. For the impact estimation we used, among others, the UNEP FI tool. For more details on the Impact analysis, please see section 1.3 'Materiality assessment'. For more details on the progress towards our objectives see, regarding climate, section 2.1.3 and, regarding employees, customers and communities sections 3.1., 3.2 and 3.3.

| Principle 3         
 Clients & customers |

Our Responsible Banking and Sustainability policy sets out the general principles, targets, objectives and