Banco Santander (SAN) investor relations material

Opening remarks and agenda

• The meeting was held exclusively online, leveraging a proven digital platform to ensure equal participation and sustainability, with the highest quorum in 30 years achieved.

• Legal and procedural details were outlined, including voting rules, notarial oversight, and access to all relevant documents via the corporate website.

• Shareholders could submit questions and presentations in multiple formats, with responses provided during the meeting or in writing.

Financial performance review

• Attributable profit for 2025 reached a record EUR 14.1 billion, up 16% year-on-year, with EPS up 17%.

• Return on tangible equity (RoTE) post-AT1 was 16.3%, and the cost-to-income ratio improved to 41.2%.

• CET1 capital ratio closed at 13.5%, above the operating range, supporting stability and growth.

• Total shareholder remuneration for 2025 was EUR 7.05 billion, the highest in history, representing 50% of net profit.

• Share price outperformed sector and market, with a 164% total return since 2015.

Board and executive committee updates

• Deborah Vieitas was proposed as a new Independent Director, replacing Homaira Akbari.

• Re-elections of several directors were proposed, following assessments of performance and commitment.

• The Board's annual evaluation confirmed strong effectiveness and culture.