Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 320

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 320
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 member of the NC, RBSCC and ITC since 27 June 2024.

E. Director since 27 June 2024.

F. Also includes emoluments for other roles in the board.

EC: executive committee. AC: audit committee. NC: nomination committee. RC: remuneration committee.

RSRCC: risk supervision, regulation and compliance committee. RBSCC: responsible banking, sustainability and culture committee. ITC: innovation and technology committee.

Changes in the chairship of the committees:

1. Germán de la Fuente was appointed Chair of the AC on 23 March 2024, replacing Pamela Walkden.

2. Belén Romana was appointed Chair of the NC on 23 March 2024, succeeding Bruce Carnegie-Brown.

3. Pamela Walkden was appointed Chair of the RSRCC on 23 March 2024, replacing Belén Romana.

4. Sol Daurella assumed the chairship of the RBSCC on 23 July 2024. Pamela Walkden joined to the RBSCC on 23 March 2024, replacing Belén Romana.

5. Glenn Hutchins was appointed Chair of ITC on 23 March 2024, replacing Ana Botín.

Annual report 2024 310

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

6.3 Remuneration of directors for executive duties i) How we set executive directors pay We set the remuneration structure for executive directors by considering company performance as well as Santander's unique individual circumstances such as multiple stock exchange listings, the geographical distribution of the company’s operations, sales and employees, and the clear industry-specific pressures in terms of talent attraction and retention. As explained below, we conduct a benchmarking analysis for the executive chair and CEO positions every year in order to establish a framework of reference for what competitors are paying. ii) How we determine our peer group Banco Santander conducts an annual comparative review of executive directors’ and top management remuneration against a peer group comprised of global banks. Because we have extensive international operations and we compete for talent on a global scale, our peer group appropriately reflects these characteristics. While two-thirds of the companies in our comparator group are European, we include banks from the US and Brazil due to the strong presence of Santander in those countries. For instance, over 50% of revenues and nearly half