Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 49

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 49
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 Transport            |     |         |     |                                                      |     |      |     |      |     |            |     |      |     |      |     |               |     |                 |
| Auto Consumer        |     |         |     |                                                      |     |      |     |      |     |            |     |      |     |      |     |               |     |                 |
| Agriculture          |     |         |     |                                                      |     |      |     |      |     |            |     |      |     |      |     |               |     |                 |
| Manufacturing        |     |         |     |                                                      |     |      |     |      |     |            |     |      |     |      |     |               |     |                 |
| Water & Waste        |     |         |     |                                                      |     |      |     |      |     |            |     |      |     |      |     |               |     |                 |
| Construction         |     |         |     |                                                      |     |      |     |      |     |            |     |      |     |      |     |               |     |                 |
| Real Estate          |     |         |     |                                                      |     |      |     |      |     |            |     |      |     |      |     |               |     |                 |
|                      |     |         |     | Risk level:¢Very high¢High¢Medium¢Moderately low¢Low |     |      |     |      |     |            |     |      |     |      |     |               |     |                 |

#### 3.

#### Internal climate models
Detailed below is an overview of our internal climate model:

Our climate internal models enable us to quantify the financial impact 4 of transition and physical risks that we monitor through changes in PD and LGD metrics. Our model estimates the direct and indirect impact of macroeconomic and climate variables, market trends and regulatory expectations. This model takes a bottom-up approach by considering each client's financial situation and technology. Where we don’t have specific customer information, we use a top-down approach by sector and geographical location.

The development of internal models allows us a high degree of flexibility and capacity for analysis and adaptation to our portfolios,

including its characteristics and maturities, to new economic and regulatory requirements. The main features are briefly described below:

A. Scenarios are based on those published by the NGFS 5 and Representative Concentration Pathways