Company: BCDRF
Filing Date: 2025-03-03
Form Type: 6-K
Source: 0000891478-25-000057
Chunk: 54

Company: Banco Santander, S.A.
Filing Date: 2025-03-03
Form: 6-K
Chunk 54
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, common methodologies, completeness in covering all risks, materiality, and orientation towards corrective and mitigation actions. The calculation of the risk profile according to this methodology generates results through a scoring system composed of four materiality categories: low, medium-low, medium-high and high. This allows for monitoring the risk appetite approved by the board. Additionally, it provides a holistic view of all risks at a given point in time, enabling the identification of management weaknesses and potential deviations from the business plan, on which corrective actions can be taken. It provides evidence of prudent risk management, confirming strong solvency ratios and comfortable liquidity levels. The Group objective is to maintain a medium-low risk profile, stable in an environment dominated by market volatility, a gradual decline in inflation, and ongoing geopolitical tensions. The prudent and anticipatory risk management translates into good profitability and credit quality indicators by year-end, maintaining a good liquidity risk profile.

| Access 2024 Annual Report available on the Santander Group website |

66 2024 Pillar 3 Disclosures Report

| Index |     | Introduction |     | Capital |     | Risks |     | Risk taker's remunerations |     | Appendices |

3.2. Governance This section covers the qualitative requirements OVA - Institution risk management approach and OVB - Disclosure on governance arrangements. Except for matters discussed by the general shareholders meeting, the board of directors is the highest decision-making body of Banco Santander, performing its duties with unity of purpose and independence of judgement. The board's policy is to delegate day-to-day management and the execution of strategy to the executive bodies and the management team, focusing on the performance of its general supervisory function. 3.2.1. Board of Directors As at 31 December 2024, the ´board of directors consists of 15 members, whose profiles and track records are listed in section 4.1 "Our directors" of the corporate governance chapter of the 2024 Annual report. The Bylaws allow it to have between 12 and 17 members. Composition by type of director The composition of the board of directors is balanced between executive and non-executive directors, most of whom are independent. Each director’s status has been verified by the nomination committee.

| Our Board composition |

For more details on the actual knowledge, skills and experience of the members of the board of directors, as well as on the appointment, renewal and succession of directors, see chapter 'Corporate governance' of the 2024 Annual report.

| Access 202