Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 1098

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 1098
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, all US companies listed on the NYSE must adopt a Code of Business Conduct and Ethics which contains certain required topics. In March 2000, Santander adopted a General Code of Conduct, as subsequently amended from time to time, that applies to members of the board and to all employees of Santander, notwithstanding the fact that certain persons are also subject to the Code of Conduct in Securities Markets (CCSM) or to other Codes of Conduct related specifically to the activity or lines of business in which they undertake their responsibilities.

The current General Code of Conduct set an open door policy by which any Santander employee who becomes aware not only of an allegedly unlawful act or an act in breach of the General Code of Conduct or of our internal regulations, but also of any action that is not aligned with Santander´s corporate behaviours or Simple, Personal and Fair (SPF) corporate culture, may report such act directly to compliance management through the appropriate whistleblowing channel (Canal Abierto).

As at 31 December 2024, no waivers with respect to the General Code of Conduct had been applied for or granted.

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| Contents |     | Cross-reference to Form 20-F |     | Consolidated director's report |     | Consolidated financial statements |     | Supplemental information |

In addition, we abide by a Code of Conduct in Securities Markets (CCSM), which was approved on 28 July 2003. The latest version of this Code, approved by the board of directors on 4 February 2025, sets out the principles applicable in the handling of inside information by employees and directors of Grupo Santander to comply with regulations related to market abuse, and also covers the guidelines applicable to their personal account dealing. This Code is included under exhibit 11.1 to this annual report on Form 20-F.

Both codes are available to the public on our corporate website, which does not form part of this annual report on Form 20-F, at santander.com under the heading 'Information for shareholders and investors-corporate governance-codes of conduct'.

#### Shareholder approval of new share issuances
As a company listed on the NYSE, we are subject to the NYSE corporate governance listing standards. Section 312.03(c) of the NYSE Listed Company Manual requires shareholder approval of new share issuances above the 20% threshold specified therein in certain circumstances. However, NYSE rules permit a foreign private issuer like us to follow the corporate governance practices of its home country. Certain corporate governance practices