Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 767

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 767
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. This reservation shall be freely available when the circumstances which have obliged its constitution disappear. In addition, this reserve covers the outstanding balance of loans granted by the Group with Banco Santander's share guarantee and the amount equivalent to the credits granted by the Group companies to third parties for the acquisition of own shares.

iii. Revaluation reserve Royal Decree Law 7/1996, of 7 June

The balance of Revaluation reserve Royal Decree-Law 7/1996 can be used, free of tax, to increase share capital. From 1 January 2007, the balance of this account can be taken to unrestricted reserves, provided that the monetary surplus has been realised. The surplus will be deemed to have been realised in respect of the portion on which depreciation has been taken for accounting purposes or when the revalued assets have been transferred or derecognised.

If the balance of this reserve were used in a manner other than that provided for in Royal Decree law 7/1996, of 7 June, it would be subject to taxation.

iv. Reserves of subsidiaries

The detail, by company, of Reserves of subsidiaries, based on the companies’ contribution to the Group (considering the effect of consolidation adjustments) is as follows:

| EUR million                                                                                    |     |      |        |     |      |        |     |      |        |
|                                                                                                |     | 2024 |        |     | 2023 |        |     | 2022 |        |
| Banco Santander (Brasil) S.A. (Consolidated Group)                                             |     |      | 15,107 |     |      | 14,512 |     |      | 14,663 |
| Santander UK Group                                                                             |     |      |  8,576 |     |      |  8,700 |     |      |  8,358 |
| Banco Santander México, S.A., Institución de Banca Múltiple, Grupo Financiero Santander México |     |      |  5,248 |     |      |  5,684 |     |      |  5,437 |
| Santander Consumer Finance Group                                                               |     |      |  4,729 |     |      |  4,344 |     |      |  3,858 |
| Banco Santander - Chile                                                                        |     |      |  4,250 |     |      |  4,