Company: BCDRF
Filing Date: 2025-05-05
Form Type: 6-K
Source: 0000950103-25-005721
Chunk: 4

Company: Banco Santander, S.A.
Filing Date: 2025-05-05
Form: 6-K
Chunk 4
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 the 6M VWAP ▪ Following the transaction, Santander will own a stake in Santander Bank Polska (1) Strategic cooperation ▪ Santander and Erste to establish a strategic cooperation that will allow Erste to leverage Santander’s Corporate & Investment Banking (CIB) and Payments platforms Sale of 50% of Asset Management Poland ▪ All - cash transaction for a total consideration for 50% of approximately €0.2 billion Total value ▪ Total value to Santander of €8.9 billion – Total cash proceeds of €7.0 billion – Value of 13% stake in Santander Bank Polska of €1.9 billion (2) Use of proceeds ▪ Deliver EPS accretion by 2027/2028 by redeploying the capital through a combination of incremental organic growth, share buybacks and bolt - on M&A ▪ Intention to distribute 50% of the capital released from this disposal to accelerate the delivery of our €10 billion share buyback target for 2025 - 26 upon completion in early 2026 (equivalent to c.€3.2 billion of share buybacks) ▪ Potential to exceed previously announced share buyback target for 2025 - 26 subject to regulatory approval, based on (1) Santander to retain a stake in Santander Bank Polska (in principle, without commitment to Erste Group) (2) Based on Santander Bank Polska’s share price of PLN 590 as of 02 May 2025 (3) Therefore, Consumer Bank Poland will not be part of the perimeter of the Transaction with Erste Group Acquisition of 60% of Consumer Bank Poland (3 ) ▪ Intention to acquire 60% of the Polish consumer finance business currently owned by Santander Bank Polska ▪ Commitment to invest in Poland and expand Consumer Finance Poland ▪ Around the end of 2025, subject to customary conditions, including regulatory approvals Expected closing Transaction with Erste Group our capital hierarchy Transaction with Santander Bank Polska Sale of 49% stake in Santander Bank Polska to Erste Group

5 €3.1bn Capital invested (1) Net initial investment and excluding dividends received Track record of value creation in Poland Entered in 2011 through a majority stake acquisition in Bank Zachodni WBK Merger of Bank Zachodni WBK and KBC’s Polish banking arm Kredyt Bank 2011 2013 2014 BZ WBK