Company: BCDRF
Filing Date: 2025-10-29
Form Type: 6-K
Source: 0000891478-25-000130
Chunk: 4

Company: Banco Santander, S.A.
Filing Date: 2025-10-29
Form: 6-K
Chunk 4
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 the charges recorded in the second quarter of 2024). Operational transformation continues to drive structural efficiency gains. In Retail, 67% of products and services are now digitally available, and the bank has simplified its product range, reducing the number of products by 58% compared to 2022, while achieving sustained improvements in cost-to-serve (-3% year-on-year in Retail). The group maintains a robust and diversified balance sheet, with a net loan-to-deposit ratio of 99%, a liquidity coverage ratio (LCR) of an estimated 160% and continued improvements in credit quality across most businesses. Retail and Consumer remain disciplined on growth and risk; CIB continues to expand fee-based, capital-light businesses; Wealth delivers strong inflows and record assets under management; and Payments continues to scale, with PagoNxt’s EBITDA margin at 31.6%, already above the 2025 target. Note: targets market dependent. Based on macro assumptions aligned with international economic institutions. TNAVps + Cash DPS includes the €11.00 cent cash dividend per share paid in May 2025 and the €11.50 cent cash per share approved in September 2025 that will be paid from 3 November 2025, both forming part of the shareholder remuneration policy. (1) CET1 ratio phased-in, calculated in accordance with the transitory treatment of the CRR.

Corporate Communications Ciudad Grupo Santander, edificio Arrecife, planta 2 28660 Boadilla del Monte (Madrid) comunicacion@gruposantander.com www.santander.com 4 Looking ahead, Santander expects global economic growth to remain steady, with developed markets expanding solidly and emerging markets performing even more strongly, supported by easing inflation and resilient labour markets. The group is confident it will meet all its 2025 targets, which include the following: • Revenue of c.€62 billion. • Mid-high single-digit net fee income growth in constant euros. • Cost base down in euros. • Cost of risk around 1.15%. • CET1 at 13% (operating range of 12-13%). • RoTE post-AT1 around 16.5%. • Double-digit growth in TNAV per share + cash DPS2. Global businesses (9M 2025 vs 9M 2024) To better reflect the performance of each business, the year-on-year changes provided below are presented in constant euros unless stated otherwise. Variations in