Company: BCDRF
Filing Date: 2025-10-29
Form Type: 6-K
Source: 0000891478-25-000138
Chunk: 43

Company: Banco Santander, S.A.
Filing Date: 2025-10-29
Form: 6-K
Chunk 43
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 Actuarial gains or losses on defined benefit pension plans, includes the actuarial gains or losses and the return on the assets assigned to the plan, less administration costs and plan's own taxes, and any change in the effects of the asset limit, excluding amounts included in net interest on net defined benefit liability (asset). Its variation is shown in the consolidated condensed statement of recognized income and expense.

During the first nine months of 2025, the amount of actuarial losses (net of actuarial gains) has increased by EUR 33 million. The main impacts are:

In first place, due to the higher addition against equity amounting to EUR 173 million, with the following breakdown:

• Increase of EUR 108 million in the accumulates actuarial losses relating to the Group´s entities in the United Kingdom, mainly due to the evolution experienced by the portfolio, partially compensated by the increase in the discount rate - from 5.54% to 5.88%- and to the reduction in short term inflation -from 3.11% to2.93%-.

• Increase of EUR 91 million in the accumulates actuarial losses relating to the Group´s entities in Brazil, mainly due to the evolution experienced by the discount rate - reduction from 10.58% to 10.52% in pension plans and from 10.50% to 10.42% in medical plans-, to the short term inflation and the evolution in the asset portfolio.

• Decrease of EUR 31 million in the accumulates actuarial losses relating to the Group´s entities in Germany, mainly due to the evolution experienced by the discount rate - increase from 3.56% to 4.15%-.

• Decrease of EUR 27 million in the accumulates actuarial losses relating to the Group´s entities in Spain, mainly due to the evolution experienced by the discount rate - increase from 3.00% to 3.60%-.

• Increase of EUR 10 million in the cumulative actuarial losses relating to the Group's businesses in Portugal, mainly due to the evolution of the collective.

• Increase of EUR 22 million in the cumulative actuarial losses relating to the Group's businesses in other geographical areas.

In second place, due to the evolution of exchange rates, a EUR 140 million decrease, mainly due to the depreciation of the pound sterling.

#### e)
Other comprehensive income - Items not reclassified to profit or loss – Changes in the fair value of equity instruments