Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 185

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 185
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 us to classify green and transition activities to support our customers transition and contribute to our climate ambition.

| Internationally recognized sector principles and guidelines that the SFICS draws on                                                                                                                                                        |     |                                   |     |                           |     |                                           |     |                                                                                                               |     |                            |     |                   |     |                        |
| EU taxonomy                                                                                                                                                                                                                                |     | ICMA Green/Social Bond Principles |     | LMA Green Loan Principles |     | LMA Sustainability Linked Loan Principles |     | ICMA Sustainability Linked Bond Principles                                                                    |     | Febraban taxonomy (Brazil) |     | UNEP FI framework |     | Climate Bond Standards |
| Eligible products                                                                                                                                                                                                                          |     |                                   |     |                           |     |                                           |     |                                                                                                               |     |                            |     |                   |     |                        |
| Dedicated purpose                                                                                                                                                                                                                          |     |                                   |     |                           |     |                                           |     | Sustainability-linked financing                                                                               |     |                            |     |                   |     |                        |
| →Proceeds go towardseligible environmental and social activities and initiatives.                                                                                                                                                          
 →Eligibility criteria:Activities with a specific environmental and social purpose under accepted standardsthat follow internationally recognized sector guidelines and principles (ICMA, LMA, Climate Bonds Standard) and the EU taxonomy. |     |                                   |     |                           |     |                                           |     | →Sustainability-linked transactionsdesigned to help our customers achieve their ESG objectives.               
 →Transaction structured to achievepre-determined sustainability performance targets(ESG ratings and metrics). 
 →Alignment with sector standards (ICMA and LMA).                                                              |     |                            |     |                   |     |                        |

Update in 2023 to the Green, social and sustainability funding global framework

Updated in 2023, this framework is the reference for all environmental, social and sustainability-labelled funding instruments traded in sustainable capital markets and enables all Grupo Santander entities to issue based on it. It replaces our previous Global sustainable bond and Green bond frameworks. Consistent with best market practice and investor expectations, it covers use of proceeds, project assessment and selection, management of proceeds and reporting in line with the International Capital Market Association’s (ICMA) and Loan Market Association’s (LMA) guidelines. It is also consistent with the SFICS.

Annual report 2024 133

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

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