Company: BCDRF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000891478-25-000113
Chunk: 128

Company: Banco Santander, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 128
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 |         | -33,505 |            |         | -31,838 |
| Hedge of net investments in foreign operations (effective portion)                                                |     |             |  -6,781 |         |            |  -8,002 |         |
| Exchange differences                                                                                              |     |             | -25,567 |         |            | -22,375 |         |
| Hedging derivatives (effective portion)                                                                           |     |             |     215 |         |            |    -298 |         |
| Changes in the fair value of debt instruments measured at fair value with changes in other comprehensive income   |     |             |    -293 |         |            |    -736 |         |
| Hedging instruments (items not designated)                                                                        |     |             |       — |         |            |       — |         |
| Non-current assets held for sale                                                                                  |     |             |    -636 |         |            |       — |         |
| Share in other income and expenses recognised in investments, joint ventures and associates                       |     |             |    -443 |         |            |    -427 |         |

| 130 |     | January - June 2025 |

d) Other comprehensive income - Items not reclassified to profit or loss - Actuarial gains or losses on defined benefit pension plans

The balance of the heading Other accumulated comprehensive income - Items not reclassified to profit or loss - 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 six months of 2025, the amount of actuarial losses (net of actuarial gains) has decreased by EUR 21million. The main impacts are:

In first place, due to the higher addition against equity amounting to EUR 79million, with the following breakdown:

• Increase of EUR 90million 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