Company: BCDRF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000891478-25-000113
Chunk: 168

Company: Banco Santander, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 168
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 analysis and comparability of the information presented herein, average balance sheets for the six months ended 30 June 2025 and 2024 were calculated based on adjusted month-end data (January through June) classifying assets and liabilities associated with the businesses subject to the Poland disposal under 'assets/liabilities from discontinued operations'.

To better understand the behaviour of average balance sheets and interest rates, we have split our foreign activities into ‘International – Mature markets’ which include Europe (except for Spain and Poland) and the United States and ‘International – Developing markets’ which include South America, Mexico and Poland.

You should read the following tables and the tables included under '—Changes in Net Interest Income/(charges)—Volume and Rate Analysis' and '—Assets—Earning Assets—Yield Spread' considering the following:

• We have included in interest income loan arrangement fees and other similar items;

• We have not recalculated tax-exempt income on a tax-equivalent basis because the effect of doing so would not be significant;

• We have included income and expenses from interest-rate hedging transactions as a separate line item under interest income and expenses if these transactions qualify for hedge accounting under IFRS-IASB. If these transactions do not qualify for such treatment, we have included income and expenses on these transactions elsewhere in our income statement. See Note 2 to our consolidated financial statements included in Part 1 of our 2024 Form 20-F for a discussion of our accounting policies for hedging activities;

• We have stated average balances on a net basis, netting our allowances for credit losses; and

• All average data have been calculated as the simple average of month-end balances over the relevant date range, which is not significantly different from having used daily averages.

| January - June 2025 |     | 177 |

Average Balance Sheet - Assets and Interest Income

|                                                                                                                              |     |        Six months ended 30 June, |           |     |          |        |     |              |       |   |     |                 |           |     |          |        |     |              |       |   |
|                                                                                                                              |     |                             2025 |           |     |          |        |     |              |       |   |     |            2024 |           |     |          |        |     |              |       |   |
| ASSETS                                                                                                                       |     |                  Average Balance |           |     | Interest |        |     | Average Rate |       |   |     | Average Balance