Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 82

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 82
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3.90 |     |  2.67 |     |                                |                         138 |     |                         0.68 |     |                           3.0 |     |     |     |            |                 |
| 2022                |     |  3.95 |     |  2.74 |     |                                |                         133 |     |                         0.70 |     |                           3.0 |     |     |     |            |                 |
| 2023                |     |  4.02 |     |  2.74 |     |                                |                         134 |     |                         0.68 |     |                           3.0 |     |     |     |            |                 |
| Auto lending Europe |     |  2022 |     | 55.27 |     |                                |                        5.84 |     |                          137 |     |                          0.11 |     | 3.2 |     |            | 75-89 gCO2e/vkm |
| 2023                |     | 62.40 |     |  6.78 |     |                                |                         133 |     |                         0.11 |     |                           2.7 |     |     |     |            |                 |

The data source for auto manufacturing has been replaced by JATO Dynamic for figures from 2022 onwards, allowing us to provide more accurate and timely data points. Accordingly, the methodology has been updated to incorporate this refinement.

Auto lending in Europe

Industry dynamics: The alignment of this sector in Europe is driven by regulation and is especially affected by a law that prohibits the sale of internal combustion engine vehicles from 2035.

Nonetheless, the rate of alignment will rely on external factors such as government action (e.g. subsidies for electric or low-

Annual report 2024 66

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

emissions vehicles), the development of charging infrastructure and manufacturers’ business objectives.

Portfolio evolution: 2023 emissions were 2% below the lower end of the target curve. Once we finish automating calculations, we will monitor all emissions-related metrics (total emissions, emission intensity, auto lending portfolio exposure, PCAF score, etc.) monthly.

To support the alignment of the auto lending portfolio SCF plans to