Company: BCDRF
Filing Date: 2025-10-31
Form Type: 424B5
Source: 0001193125-25-260533
Chunk: 229

Company: Banco Santander, S.A.
Filing Date: 2025-10-31
Form: 424B5
Chunk 229
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. Upon the happening of any of the events described below and unless otherwise provided in the relevant prospectus supplement, the Floor Price of any series of contingent convertible capital securities shall be adjusted as follows: (a) If and whenever there shall be a consolidation, reclassification/redesignation or subdivision affecting the number of Common Shares, the Floor Price shall be adjusted by multiplying the Floor Price in force immediately prior to such consolidation, reclassification/redesignation or subdivision by the following fraction: where:

| A | is the aggregate number of Common Shares in issue immediately before such consolidation, 
 reclassification/redesignation or subdivision, as the case may be; and                   |

| B | is the aggregate number of Common Shares in issue immediately after, and as a result of, such consolidation, 
 reclassification/redesignation or subdivision, as the case may be.                                           |

Such adjustment shall become effective on the date the consolidation, reclassification/redesignation or subdivision, as the case may be, takes effect. (b) If and whenever Banco Santander shall issue any Common Shares credited as fully paid to Shareholders by way of capitalization of profits or reserves (including any share premium account or capital redemption reserve) other than (i) where any such Common Shares are or are to be issued instead of the whole or part of a Cash Dividend which Shareholders would or could otherwise have elected to receive, (ii) where Shareholders may elect to receive a Cash Dividend in lieu of such Common Shares or (iii) where any such Common Shares are or are expressed to be issued 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 Floor Price shall be adjusted by multiplying the Floor Price in force immediately prior to such issue by the following fraction: where:

| A | is the aggregate number of Common Shares in issue immediately before such issue; and |

| B | is the aggregate number of Common Shares in issue immediately after such issue. |

Such adjustment shall become effective on the first day on which Common Shares are traded ex-rightson the relevant Stock Exchange. (c) (i) If and whenever Banco Santander shall pay any Extraordinary Dividend to its shareholders, the Floor Price shall be adjusted by multiplying the Floor Price in force immediately prior to the Effective Date by the following fraction: 95

where:

| A | is the Current Market Price of one Common Share on the Effective Date; |

| B | is