Company: BCDRF
Filing Date: 2025-04-04
Form Type: 6-K
Source: 0000950103-25-004384
Chunk: 17

Company: Banco Santander, S.A.
Filing Date: 2025-04-04
Form: 6-K
Chunk 17
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 Crédit Agricole, HSBC, ING, Itaú, Scotiabank and 
 Unicredit.                                                                                                              |

For this TSR metric, the following
achievement scale is established:

| TSR                                               
 Position of the Bank                              |    TSR |
| Achievement                                       
 of percentile 100                                 |    1.5 |
| Between                                           
 percentiles 75 and 100 (not including the latter) |      1 
 – 1.5A |
| Between                                           
 percentiles 50 and 75 (not including the latter)  |    0.5 
   – 1A |
| Below                                             
 percentile 50                                     |      0 |

| A. | Proportional increase in TSR coefficient within this bracket of the scale according 
 to the number of positions moved up in the ranking.                                 |

| B. | Achievement of the return on tangible equity (“RoTE”) target of the Bank in 2027. The RoTE 
 coefficient corresponding to this target will be obtained from the following table:        |

| RoTE      
 in 2027   |             |
| (%)       |        RoTE 
 Coefficient |
| ≥ 18.5%   |         1.5 |
| ≥ 17% but 
 < 18.5%   |         0 – 
        1.5A |
| < 17%     |           0 |

| A. | Straight-line increase in RoTE Coefficient within this bracket of the scale based 
 on the specific percentage of RoTE in 2027.                                       |

| C. | Level of Group progress on the sustainability associated targets (metrics linked to sustainability matters): |

| 1. | Target regarding women in management positions at financial year-end 2027: |

| % women in            
 management positionsB | Coefficient 
           1 |
| ≥ 39.5%               |        1.25 |
| ≥ 39.2% but < 39.5%   |   1 – 1.25A |
| ≥ 38.4% but < 39.2%   |      0 – 1A |
| < 38.4%               |           0 |

| A | Increase in Coefficient 1 is proportional to its position within this bracket 
 of the scale.                                                                 |

| B | Management positions make up approximately 14% of the total workforce. |

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| This document is