Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 1068

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 1068
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, as provided by the Rules and regulations of the general meeting. The quorum at the April 2020 AGM was 65.0% of Banco Santander’s share capital, and the quorum at the October 2020 AGM was 60.34% of Banco Santander’s share capital; the quorum at the March 2021 AGM was 67.67% of Banco Santander’s share capital; the quorum at the April 2022 AGM was 68.78% of Banco Santander’s share capital; the quorum at the March 2023 AGM was 67.56% of Banco Santander’s share capital; and the quorum at the March 2024 AGM was 66.65% of Banco Santander’s share capital.

Each Banco Santander share entitles the holder to one vote. Registered holders of any number of shares will be entitled to attend shareholders’ meetings, provided shares are fully paid-up. Our Bylaws do not contain provisions regarding cumulative voting.

Any Banco Santander share may be voted by proxy. Subject to the limitations imposed by Spanish law, proxies may be given to any individual or legal person, must be in writing or by remote means of communication and are valid only for a single meeting. According to Spanish law, if a director or another person acting on their behalf makes a public solicitation for proxies (thus obtaining more than three proxies), the director holding the proxies may not exercise the voting rights attached to the represented shares (unless specific instructions were given by the shareholder) in connection with any items in respect of which the director or such other person is subject to a conflict of interest and, in any event, in connection with decisions relating to:

• the director's appointment or ratification, removal, dismissal or withdrawal as director;

• the institution of a derivative action against the director; or

• the approval or ratification of transactions between Banco Santander and the director in question, companies controlled or represented by the director, or persons acting on the director's behalf.

In general, resolutions passed at a general meeting are binding on all shareholders. In certain circumstances, Spanish law gives dissenting or absent shareholders the right to have their Santander shares redeemed at prices determined in accordance with established formula or criteria. Treasury shares held by Banco Santander or its affiliates are counted for the purpose of

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