Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 223

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 223
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 Date by the following fraction: where:

| A | is the number of Common Shares in issue immediately before such issue or grant (but where the relevant                                                                                                                                                 
 Securities carry rights of conversion into or rights of exchange or subscription for, purchase of, or rights to otherwise acquire Common Shares which have been issued, purchased or acquired by 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) for the purposes of or in connection with such issue, less the number of such Common Shares so issued, purchased or acquired);                   |

| B | is the number of Common Shares which the aggregate consideration (if any) receivable for the Common Shares to 
 be issued or otherwise made available upon conversion or exchange or upon                                     |

99

| exercise of the right of subscription, purchase or acquisition attached to such Securities or, as the case may be, for the Common Shares to be issued or to arise from any such 
 reclassification/redesignation would purchase at such Current Market Price per Common Share; and                                                                                |

| C | is the maximum number of Common Shares to be issued or otherwise made available upon conversion or exchange of                                                                                                                                        
 such Securities or upon the exercise of such right of subscription attached thereto at the initial conversion, exchange, subscription, purchase or acquisition price or rate or, as the case may be, the maximum number of Common Shares which may be 
 issued or arise from any such reclassification/redesignation;                                                                                                                                                                                         |

provided that if at the time of issue of the relevant Securities or date of grant of such rights (as used in this sub-paragraph(g), 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 (which may be when such Securities are converted or exchanged or rights of subscription, purchase or acquisition are exercised or, as the case may be, such Securities are reclassified/redesignated or at such other time as may be provided), then for the purposes of this sub-paragraph(g), “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 or, as the case may be, reclassification/redesignation had taken place on the Specified Date. Such adjustment shall become effective on the Effective Date. “Effective Date”