Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 1069

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 1069
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 statements |     | Supplemental information |

determining quorums but may not be voted by Banco Santander or by its affiliates.

Resolutions at general meetings are passed provided that, regarding the voting capital present or represented at the meeting, the number of votes in favour is higher than the number of votes against, except for the foregoing cases in which the law and the Bylaws require a greater majority.

The valid approval of all the above listed actions requires the favourable vote of more than half of the votes corresponding to the shares represented in person or by proxy at the general shareholders’ meeting, except when on second call shareholders representing less than fifty percent of the subscribed share capital with the right to vote are in attendance - in which case the favourable vote of two-thirds of the share capital represented in person or by proxy at the general shareholders’ meeting shall be required.

#### Changes in capital
See sections 2.1.'Share capital' , 2.2. 'Authority to increase capital' , 2.5 'Treasury shares' , 3.4. '2024 AGM' and 3.5. 'Our next AGM in 2025' in the 'Corporate governance' chapter in Part 1 of this annual report on Form 20-F.

#### Dividends
See section 3.3.'Dividends and shareholder remuneration' in the 'Corporate governance' chapter in Part 1 of this annual report on Form 20-F.

#### Preemptive rights
In the event of a capital increase, each shareholder has a preferential right by operation of law to subscribe shares in proportion to their shareholding in each new issue of Banco Santander shares. The same right is vested on shareholders upon the issuance of convertible debt. However, shareholders' preemptive rights may be excluded under certain circumstances by specific approval at the general meeting (or upon its delegation by the board of directors) and preemptive rights are deemed excluded by operation of law in the relevant capital increase when our shareholders approve:

• capital increases following conversion of convertible bonds into Banco Santander shares;

• capital increases due to the absorption of another company or of part of the spin-off assets of another company, when the new shares are issued in exchange for the new assets received; or

• capital increases due to Banco Santander’s tender offer for securities using Banco Santander’s shares as all or part of the consideration.

If capital is increased by the issuance of new shares in return for capital from certain reserves, the resulting new Banco