Company: BCDRF
Filing Date: 2025-01-02
Form Type: 6-K
Source: 0000891478-25-000002
Chunk: 12

Company: Banco Santander, S.A.
Filing Date: 2025-01-02
Form: 6-K
Chunk 12
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 balances held by the Group in view of its geographic diversity (Note 51.b to the consolidated annual accounts for the annual year ended 31 December 2023) and the impact of the appreciation/depreciation of the various currencies against the euro in the first nine months of 2024: Mexican peso (-14.55%), US dollar (-0.94%), Brazilian real (-11.67%), Pound sterling (4.29%), Chilean peso (-3.59%) and Polish zloty (1.42%); as well as the evolution of the average exchange rates between comparable periods: Mexican peso (0.22%), US dollar (-0.37%), Brazilian real (-4.6%), Pound sterling (2.26%), Chilean peso (-12.66%) and Polish zloty (6.41%).

f) Seasonality of the Grupo Santander’s transactions

The business activities carried on by Grupo Santander entities, and their transactions are not cyclical or seasonal in nature. Therefore, no specific disclosures are included in these explanatory notes to the interim financial statements for the nine-month period ended 30 September 2024.

#### g) Materiality
In determining the note disclosures to be made on the various items in the interim financial statements or other matters, Grupo Santander, in accordance with IAS 34, took into account their materiality in relation to the interim financial statements for the nine-month period ended 30 September 2024.

#### h) Other information
On 28 December 2022, the law establishing a temporary levy on credit institutions and financial credit establishments was published in Spain. On 1 January 2024, an amount of EUR 335 million (EUR 224 million on 1 January 2023) was recorded under the heading "Other operating expenses" in the profit and loss account in accordance with IFRIC 21 due to this new tax.

#### i) Events after the reporting period
On 2 October 2024, Banco Santander, S.A., proceeded to announce an early repurchase program of certain preferred and non-preferred senior bonds for a total nominal value of EUR 1,750 million and EUR 1,500 million, respectively.

In addition, on 16 October 2024, Banco Santander, S.A. communicated the optional early redemption of all the Contingent Redeemable Perpetual Bonds for a total nominal amount of EUR 981 million and which trade on the Fixed-Income AIAF Market (the "Loyalty