Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 403

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 403
---
 financial instruments.

The foregoing shall not apply to the shares that the director needs to dispose of to meet the costs related to their acquisition or, upon favourable assessment of the nomination and remuneration committee to address an extraordinary situation.

Complies þ Partially complies o Explain o Not applicable o

63. Contractual arrangements should include provisions that permit the company to reclaim variable components of remuneration when payment was out of step with the director’s actual performance or based on data subsequently found to be misstated.

Complies þ Partially complies o Explain o Not applicable o

64. Termination payments should not exceed a fixed amount equivalent to two years of the director’s total annual remuneration and should not be paid until the company confirms that he or she has met the predetermined performance criteria.

For the purposes of this recommendation, payments for contractual termination include any payments whose accrual or payment obligation arises as a consequence of or on the occasion of the termination of the contractual relationship that linked the director with the company, including previously unconsolidated amounts for long-term savings schemes and the amounts paid under post-contractual non-compete agreements.

Complies þ Partially complies o Explain o Not applicable o

List whether any directors voted against or abstained from voting on the approval of this Report.

Yes o No þ

I declare that the information included in this statistical annex are the same and are consistent with the descriptions and information included in the annual corporate governance report published by the company.

Annual report 2024 370

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

9.3 References on compliance with recommendations of Spanish Corporate Governance Code

| Recommendation |     | Comply / Explain |     | Information                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 1              |     | Comply           |     | See section3.2 'Shareholder rights'.                                                                                                                                                                                                                                                                                                                                                                                                              |
| 2              |     | Not applicable   |     | See'Other conflicts of interest'in section 4.12 and section2.3 'Significant shareholders'.                                                                                                                                                                                                                                                                                                                                                        |
| 3              |     | Comply           |     | See section3.1 'Shareholder communication and engagement'.                                                                                                                                                                                                                                                                                                                                                                                        |
| 4              |     | Comply           |     | See section3.1 'Shareholder communication and engagement'.                                                                                                                                                                                                                                                                                                                                                                                        |
| 5              |     | Comply