Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 336

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 336
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 — |     |       |      |   | 28,567 |

A. Stepped down as director on 22 March 2024.

B. All amounts received were reimbursed to Fundación Botín.

C. Stepped down as director on 27 June 2024.

D. Member of board of directors since 27 June 2024.

E. Member of board of directors since 27 June 2024.

F. Other remuneration includes for Luis Isasi EUR 1,000 thousand for his role as non-executive Chair of the Santander España business unit and for attending its board and committee meetings. For José Antonio Álvarez, this amount includes remuneration as strategic advisor of Grupo Santander, life and health insurance contributions (EUR 856 thousand) and the supplement for having waived the death and disability policy (EUR 710 thousand).

The following table provides each executive director’s salary contingent on multi-year targets. It is only paid if they remain active in the group, malus clauses do not apply and set multi-year targets are achieved (as depending on their achievement, the amounts will be increased (limited to 125%), reduced, or even be zero, if the related minimum thresholds are not achieved):

|              |     | EUR thousand |       |     |       |
|              |     |              |  2024 |     |  2023 |
| Ana Botín    |     |              | 2,332 |     | 2,243 |
| Héctor Grisi |     |              | 1,611 |     | 1,537 |
| Total        |     |              | 3,943 |     | 3,780 |

A. Fair value of the maximum amount receivable over a total of 3 years (2028, 2029 and 2030), which was estimated when the plan was granted, based on several scenarios relating to variables in the plan during the measurement periods.

Annual report 2024 320

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

H. Ratio of variable to fixed pay components in 2024 At the 2024 AGM, shareholders approved a maximum ratio of 200% of variable to fixed components in executive directors’ pay. The table below shows the ratio of variable components to fixed components for each executive director’s total pay in 2024. This