Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 220

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 220
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 Shares                                                                                                                                              
 issued by way of rights, or for the Securities issued by way of rights, or for the options or warrants or other rights issued or granted by way of rights and for the total number of Common Shares deliverable on the exercise thereof, would purchase 
 at such Current Market Price per Common Share; and                                                                                                                                                                                                      |

| C | is the number of Common Shares to be issued or, as the case may be, the maximum number of Common Shares which                                                                                                                                             
 may be issued upon exercise of such options, warrants or rights calculated as at the date of issue of such options, warrants or rights or upon conversion or exchange or exercise of rights of subscription or purchase or other rights of acquisition in 
 respect thereof at the initial conversion, exchange, subscription, purchase or acquisition price or rate,                                                                                                                                                 |

97

provided that if at the first date on which the Common Shares are traded ex-rights, ex-optionsor ex-warrantson the Relevant Stock Exchange (as used in this sub-paragraph(d),the “Specified Date”) such number of Common Shares is to be determined by reference to the application of a formula or other variable feature or the occurrence of any event at some subsequent time, then for the purposes of this sub-paragraph(d), “C” shall be determined by the application of such formula or variable feature or as if the relevant event occurs or had occurred as at the Specified Date and as if such conversion, exchange, subscription, purchase or acquisition had taken place on the Specified Date. Such adjustment shall become effective on the Effective Date. “Effective Date” means, in respect of this sub-paragraph(d), the first date on which the Common Shares are traded ex-rights, ex-optionsor ex-warrantson the Relevant Stock Exchange. (e) If and whenever Banco Santander or any member of the Group or (at the direction or request or pursuant to any arrangements with Banco Santander or any member of the Group) any other company, person or entity shall issue any Securities (other than Common Shares or options, warrants or other rights to subscribe for or purchase or otherwise acquire any Common Shares or Securities which by their terms carry (directly or indirectly) rights of conversion into, or exchange or subscription for, or rights to otherwise acquire, Common Shares) to its shareholders as a class by way of rights or grant to its shareholders as a class by way of rights any options, warrants or other rights to subscribe for or purchase or otherwise acquire any Securities (other than Common Shares or options, warrants or other rights to subscribe