Company: BCDRF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000891478-25-000113
Chunk: 29

Company: Banco Santander, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 29
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 of risk                                                                             |     | NPL ratio         |     | NPL coverage ratio |     | Average VaR                                                                                                                                                                                      |     |                |     |                       |
| 1.14%                                                                                    |     | 2.91%             |     | 67%                |     | Q2'25                                                                                                                                                                                            |     | EUR 18 million |     | -EUR 2.8 mn vs. Q1'25 |
| 0 bp vs. Mar-25                                                                          |     | -9 bps vs. Mar-25 |     | +2 pp vs. Mar-25   |     |                                                                                                                                                                                                  |     |                |     |                       |
| Structural and liquidity risk                                                            |     |                   |     |                    |     | Operational risk                                                                                                                                                                                 |     |                |     |                       |
| Robust and diversified liquidity buffer, with ratios well above regulatory requirements. |     |                   |     |                    |     | In Q2 2025, our operational risk profile remained stable, focusing on risks associated with suppliers, technology and cyber risk. Operational losses increased compared to the previous quarter. |     |                |     |                       |
| Liquidity Coverage Ratio (LCR)                                                           |     |                   |     |                    |     |                                                                                                                                                                                                  |     |                |     |                       |
| 159%1                                                                                    |     |                   |     | +3 pp vs. Mar-25   |     |                                                                                                                                                                                                  |     |                |     |                       |

In accordance with IFRS 5 requirements, business subject to the Poland disposal has been classified as 'non-current assets/liabilities held for sale' and the results have been reported under 'discontinued operations'.

However, given that until the Poland disposal is completed, the management of Santander Polska remains unchanged, all management metrics included in this report have been calculated including Poland, i.e. maintaining the same perimeter that existed at the time of the announcement of the Poland disposal. This reporting approach is consistent with the information used internally in management reporting, as well as with other public Group disclosures.

Credit risk 2

During H1 2025, the environment was characterized by geopolitical tensions, such as the conflict in the Middle East and the development of tariff policies in the US.

The moratorium on new tariffs and the resumption of negotiations mitigated instability in trade, but weaker economic data in the US raised some doubts regarding the economic outlook and credit trends. In Latin America, economies remain resilient. In Europe, economic recovery