Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 1067

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 1067
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 the resolutions considered at the meeting.

Thus, shareholders can attend general meetings virtually through our 'General Shareholders' Meeting Platform'. They can follow them through real-time means of communication, vote, make remarks, propose resolutions and contact the notary public. Our Bylaws allow for general meetings to be virtual-only, without the physical attendance of shareholders or their proxies, provided that we can guarantee their identity and standing and that they can participate effectively in the meeting by remote means of communication, exercise their rights in real time and follow the presentations of other attendees, considering the state of the art and the Company’s circumstances, particularly the number of shareholders.

The 2025 AGM will be held as a virtual virtual-only meeting. For further information, we refer to 'Virtual AGM' in section 3.5 in the 'Corporate governance' chapter in Part 1 of this annual report on Form 20-F.

The electronic shareholders’ forum, available on the corporate website at the time the meeting is called up, allows shareholders to add to the agenda items included in the meeting notice, requests for support for their proposals, initiatives to reach the percentage required to legally exercise minority shareholder rights, and offers or requests to act as a voluntary proxy.

The quorum and majorities set out in our Bylaws and Rules and regulations for general meetings in order to hold a valid meeting and adopt corporate resolutions are those provided for under Spanish law.

In accordance with Spanish law, a quorum on first call for a duly constituted ordinary or extraordinary general meeting of shareholders requires the presence in person or by proxy of shareholders representing at least 25% of the subscribed voting capital. On the second call there is no quorum requirement.

Notwithstanding the above, a quorum of at least 50% of the subscribed voting capital is required on the first call for a duly constituted ordinary or extraordinary general meeting of shareholders voting any to adopt the following resolutions:

• the issuance of debentures;

• the increase or reduction of share capital;

• the exclusion or limitation of pre-emptive rights;

• the transformation, merger, split-off, or the overall assignment of assets and liabilities;

• the relocation of the registered office abroad; and

• any other amendment to our Bylaws.

A quorum of 25% of the subscribed voting capital is required for a duly constituted ordinary or extraordinary general meeting of shareholders voting on such actions on the second call.

For purposes of determining the quorum, those shareholders who vote by mail or via the Internet are counted as present at the meeting