Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 194

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 194
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 cash amount and (B) the Current Market Price of such Common Shares as at the first date on which         
 the Common Shares are traded ex-the relevant Dividend on the Relevant Stock Exchange or, as the case may be, the record date or other due date for establishment of entitlement in respect of the relevant                                              
 capitalization or, as the case may be, the Fair Market Value of such other property or assets as at the date of the first public announcement of such Dividend or capitalization or, in any such case, if later, the date on which the number of Common 
 Shares (or amount of such other property or assets, as the case may be) which may be issued and delivered is determined; or                                                                                                                             |

| (ii) | there shall be any issue of Common Shares by way of capitalization of profits or reserves (including any share                                                                                                                                            
 premium account or capital redemption reserve) where such issue is or is expressed to be in lieu of a Dividend (whether or not a Cash Dividend equivalent or amount is announced or would otherwise be payable to Shareholders, whether at their election 
 or otherwise), the Dividend in question shall be treated as a Cash Dividend of an amount equal to the Current Market Price of such Common Shares as at the first date on which the Common Shares are traded                                               
 ex-the relevant Dividend on the Relevant Stock Exchange or, as the case may be, the record date or other due date for establishment of entitlement in respect of the relevant capitalization or, in any such                                              
 case, if later, the date on which the number of Common Shares to be issued and delivered is determined;                                                                                                                                                   |

80

| (b) | any issue of Common Shares falling within subparagraphs (a) and (b) of “—Conversion Upon                
 Trigger Event—Conversion Price—Anti-Dilution Adjustment of the Floor Price” below shall be disregarded; |

| (c) | a purchase or redemption or buy back of share capital of Banco Santander by or on behalf of Banco Santander in                                                                                                                                            
 accordance with any general authority for such purchases or buy backs approved by a general meeting of Shareholders and otherwise in accordance with the limitations prescribed under the Spanish Companies Act for dealings generally by a company in    
 its own shares shall not constitute a Dividend and any other purchase or redemption or buy back of share capital of Banco Santander by or on behalf of Banco Santander or any member of the Group shall not constitute a Dividend unless, in the case of  
 a purchase