Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 798

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 798
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 account plausible movements of said parameters depending on the type of instrument.

D. Zero impacts from fully hedged or back-to-back transactions have not been included in this exercise.

Annual report 2024 755

| Contents |     | Auditor's report |     | Consolidated financial statements |     | Notes to the consolidated financial statements |     | Appendix |

2. Movement of financial instruments classified as Level 3

Lastly, the changes in the financial instruments classified as Level 3 in 2024, 2023 and 2022 were as follows:

|                                                                               |     | 01/01/2024                                            |        |     | Changes    |        |     |        |                   |                                                |      |     |                                         |      |     |      |                   |     |      |       |     | 31/12/2024 |        |            |
| EUR million                                                                   |     | Fair value calculated using internal models (Level 3) |        |     | Purchases/ 
 Issuances  |        |     |        | Sales/Settlements | Changes infair valuerecognisedin profit orloss |      |     | Changes infair valuerecognisedin equity |      |     |      | Level             
 reclassifications |     |      | Other |     |            |        | Fair value 
 calculated 
 using      
 internal   
 models     
 (level 3)  |
| Financial assets held for trading                                             |     |                                                       |  2,086 |     |            |  3,205 |     |   -813 |                   |                                                |  302 |     |                                         |    — |     | -715 |                   |     | -135 |       |     |            |  3,930 |            |
| Credit entities                                                               |     |                                                       |      — |     |            |    770 |     |      — |                   |                                                |   -1 |     |                                         |    — |     |    — |                   |     |    — |       |     |            |    769 |            |
| Customers                                                                     |     |                                                       |     24 |     |            |  1,808 |     |    -24 |                   |                                                |   -7 |     |                                         |    — |     |    — |                   |     |    — |       |     |            |  1,801 |            |
| Debt securities                                                               |     |                                                       |    914 |