Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 759

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 759
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 the asset portfolio. These losses have been partially offset by the evolution experienced by the discount rate -increase from 8.65% to 10.58% in the main pension benefits and 8.70% to 10.50% in medical benefits. • Increase of EUR 21million in the accumulates actuarial losses relating to the Group´s entities in Spain, mainly due to the evolution experienced by the discount rate -reduction from 3.35% to 3.00%-. • Decrease of EUR 13million in the accumulated actuarial losses corresponding to the Group's businesses in other geographical areas. • In second place, due to the evolution of exchange rates, a EUR 59million decrease.

Annual report 2024 697

| Contents |     | Auditor's report |     | Consolidated financial statements |     | Notes to the consolidated financial statements |     | Appendix |

c) Other comprehensive income - Items that will not be reclassified in results - Changes in the fair value of equity instruments measured at fair value with changes in other comprehensive income Since the entry into force of IFRS 9, no impairment analysis is performed of equity instruments recognised under 'Other comprehensive income'. IFRS 9 eliminates the need to carry out the impairment estimate on this class of equity instruments and the reclassification to profit and loss on the disposal of these assets, being recognised at fair value with changes in equity. The following is a breakdown of the composition of the balance as of 31 December 2024, 2023 and 2022 under 'Other comprehensive income - Items that will not be reclassified to profit or loss - Changes in the fair value of equity instruments measured at fair value with changes in other global result' depending on the geographical origin of the issuer:

| EUR million            |     |      |     |                            |     |        |                             |     |        |                               |     |       |            |
|                        |     | 2024 |     |                            |     |        |                             |     |        |                               |     |       |            |
|                        |     |      |     | Capital gains by valuation |     |        | Capital losses by valuation |     |        | Net gains/losses by valuation |     |       | Fair Value |
| Equity instruments     |     |      |     |                            |     |        |                             |     |        |                               |     |       |            |
| Domestic               |     |      |     |                            |