Company: BCDRF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0000891478-25-000054
Chunk: 238

Company: Banco Santander, S.A.
Filing Date: 2025-02-28
Form: 20-F
Chunk 238
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 |   |
| Europe                  |     |                    | 72.73 | % |
| The Americas            |     |                    | 25.72 | % |
| Rest of the world       |     |                    |  1.55 | % |
| Total                   |     |                    |   100 | % |

| Number of shares |     |                    |       |   |
|                  |     | % of share capital |       |   |
| 1-3,000          |     |                    |  8.82 | % |
| 3,001-30,000     |     |                    | 16.92 | % |
| 30,001-400,000   |     |                    | 11.56 | % |
| Over 400,000     |     |                    | 62.70 | % |
| Total            |     |                    |   100 | % |

2.2 Authority to increase capital Under Spanish law, shareholders at the general meeting have the authority to increase the share capital and may delegate power to the board of directors to increase the share capital by no more than 50%. Our Bylaws are consistent with Spanish law and do not set out special conditions for share capital increases.

Annual report 2024 241

| Contents |     | Business model and strategy |     | Sustainability statement |     | Corporate governance |     | Economic and financial review |     | Riskmanagement and compliance |

As at 31 December 2024, our board of directors had received authorization from shareholders to approve or carry out the following capital increases:

• Authorized capital to 2027 : Shareholders at the 2024 AGM granted authorization to the board to increase share capital on one or more occasions by up to EUR 3,956,394,643 (50% of the capital at the time of that AGM). The board was granted this authorization for a period of three years (until 22 March 2027).

The board can issue shares for cash consideration with or without pre-emptive rights for shareholders, and for capital increases to back any convertible bonds or securities issued under its authority granted at the 2023 AGM.

Shares without pre-emptive rights under this authorization can be issued up to EUR 791,278,928.50 (10% of the capital at the time of the 2024 AGM). However, under the Spanish Companies Act, this limit does not apply to capital increases to convert CCPS (which shall