Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 439

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 439
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 For more details on debt issuances and maturities, see section 3.4 'Liquidity and funding management ' in this chapter.

| Customer funds (excluding repos)    |
| % of operating areas. December 2024 |

Annual report 2024 414

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

### 3.4 Liquidity and funding management
| Executive Summary                                                        |     |                                 |     |                                          |     |                                 |     |                                                                                                      |     |                                          |     |      |     |                            |
| Regulatory ratios                                                        |     |                                 |     |                                          |     |                                 |     |                                                                                                      |     | Debt issuances in 2024                   |     |      |     |                            |
| The LCR and NSFR ratios amply exceed regulatory requirements (both 100%) |     |                                 |     |                                          |     |                                 |     | We issued close to EUR 80 bn in debt in 2024, diversified by product, currency, country and maturity |     |                                          |     |      |     |                            |
|                                                                          |     | LCRA                            |     |                                          |     | NSFR                            |     |                                                                                                      |     | EUR 52.6 bn                              |     |      |     | Medium- and long-term debt |
|                                                                          |     | 168%                            |     |                                          |     | 126%                            |     |                                                                                                      |     | EUR 26.6 bn                              |     |      |     | Securitizations            |
|                                                                          |     | vs. 100% regulatory requirement |     |                                          |     | vs. 100% regulatory requirement |     |                                                                                                      |     | Comfortable and stable funding structure |     |      |     |                            |
|                                                                          |     |                                 |     | High contribution from customer deposits |     |                                 |     |                                                                                                      |     |                                          |     |      |     |                            |
|                                                                          |     |                                 |     |                                          |     |                                 |     |                                                                                                      |     |                                          |     | 100% |     | Loan-to-deposit ratio      |
| A.Group LCR.                                                             |     |                                 |     |                                          |     |                                 |     |                                                                                                      |     |                                          |     |      |     |                            |

Liquidity management

Our structural liquidity