Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 295

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 295
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 its duties and it is generally convened every two weeks, although it can meet as many times as required by the Chair. Main activities in 2024 In 2024, the committee addressed a breadth of matters relating to the business of the Group and its main subsidiaries, risk management, corporate transactions and other proposals that were subsequently submitted to the board, which can be summarised as follows: • Results. Regularly reviewed the Group's results and stakeholder reaction to them. • Business performance. Regularly received updated information on the performance of the Group’s business areas and other related matters. • Report by the Executive Chai. : The Executive Chair regularly reported on the Group´s management, strategy and institutional matters. • Report by the CEO. The CEO regularly reported on the Group´s performance and on the budget and execution of plans for all the global businesses and units that report to him.

Annual report 2024 277

| Contents |     | Business model and strategy |     | Sustainability statement |     | Corporate governance |     | Economic and financial review |     | Riskmanagement and compliance |

• Corporate transactions. Analysed and approved, where appropriate, corporate transactions on investments and divestments, joint ventures and capital transactions.

• Risks. Received regular holistic risk and compliance reports. The committee also authorized or declined material transactions within the framework of the risk governance model.

• Global businesses and subsidiaries. Received regular updates on global businesses, subsidiaries and other business lines' performance against agreed plans. This helped the committee support the board with the oversight and control of its global business and subsidiary operations, and with the fulfillment of the targets announced at the 2023 Investor Day.

• Capital and liquidity. Received regular reports on capital ratios and optimization measures, pricing (originations) and portfolio profitability. By virtue of the board's delegation and within capital and funding plans, the committee agreed non-convertible debt issuances and securitizations.

• Supervisors and regulatory matters . agenda and projects to ensure compliance with supervisory recommendations and regulatory reforms.

• Governance matters. Approved specific internal regulation under its remit. In particular, the committee reviewed and approved key governance documents associated with the five global businesses. Furthermore, the committee analysed the effectiveness of the executive first level committee structure and approved the associated improvement plans.

In 2024, the committee held 24 meetings. See 'Board and committee preparation and attendance' in section 4.3 for members’ meeting attendance and the estimated average time each one spent on meeting preparation and attendance.

2025