Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 987

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 987
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 with the following:

• We have included in interest income loan arrangement fees and other similar items;

• We have not recalculated tax-exempt income on a tax-equivalent basis because the effect of doing so would not be significant;

• We have included income and expenses from interest-rate hedging transactions as a separate line item under interest income and expenses if these transactions qualify for hedge accounting under IFRS-IASB. If these transactions did not qualify for such treatment, we have included income and expenses on these transactions elsewhere in our income statement. See note 2 to our 'Consolidated financial statements' included in Part 1 of this annual report on Form 20-F for a discussion of our accounting policies for hedging activities;

• We have stated average loan balances on a net basis, netting our allowances for credit losses; and

• All average data have been calculated as the simple average of month-end balances over the relevant date range, which is not significantly different from having used daily averages.

| 917 |

| Contents |     | Cross-reference to Form 20-F |     | Consolidated director's report |     | Consolidated financial statements |     | Supplemental information |

|                                                                                                                                  |     | Year ended 31 December,          |      2024 |     |          |         |     |              |       |   |     |                 |      2023 |     |          |         |     |              |       |   |     |                 |      2022 |     |          |        |     |              |       |   |
|:---------------------------------------------------------------------------------------------------------------------------------|:----|:---------------------------------|----------:|:----|:---------|--------:|:----|:-------------|------:|:--|:----|:----------------|----------:|:----|:---------|--------:|:----|:-------------|------:|:--|:----|:----------------|----------:|:----|:---------|-------:|:----|:-------------|------:|:--|
| ASSETS                                                                                                                           |     | Average Balance                  |           |     | Interest |         |     | Average Rate |       |   |     | Average Balance |           |     | Interest |         |     | Average Rate |       |   |     | Average Balance |           |     | Interest |        |     | Average Rate |       |   |
|                                                                                                                                  |     | -EUR million, except percentages |           |     |          |         |     |