Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 221

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 221
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 for or purchase or otherwise acquire Common Shares or Securities which by their term carry (directly or indirectly) rights of conversion into, or exchange or subscription for, rights to otherwise acquire, Common Shares), the Floor Price shall be adjusted by multiplying the Floor Price in force immediately prior to the Effective Date by the following fraction: where:

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

| B | is the Fair Market Value on the Effective Date of the portion of the rights attributable to one Common Share. |

Such adjustment shall become effective on the Effective Date. “Effective Date” means, in respect of this sub-paragraph(e), the first date on which the Common Shares are traded ex-therelevant Securities or ex-rights, ex-optionor ex-warrantson the Relevant Stock Exchange. (f) If and whenever Banco Santander shall issue (otherwise than as mentioned in sub-paragraph(d) above) wholly for cash or for no consideration any Common Shares (other than Common Shares issued on conversion of the any series of contingent convertible capital securities or on the exercise of any rights of conversion into, or exchange or subscription for or purchase of, or right to otherwise acquire Common Shares) or if and whenever Banco Santander or any member of the Group or (at the direction or request or pursuance to any arrangements with Banco Santander or any member of the Group) any other company, person or entity shall issue or grant (otherwise than as mentioned in sub-paragraph(d) above) wholly for cash or for no consideration any options, warrants or other rights to subscribe for or purchase or otherwise acquire any Common Shares (other than the contingent convertible capital securities of any series, which for this purpose include any Further Contingent Convertible Capital Securities), in each case at a price per Common Share which is less than 95 percent of the Current Market Price per Common Share on the date of the first public announcement of the terms of such issue or grant, the Floor Price shall be adjusted by multiplying the Floor Price in force immediately prior to the Effective Date by the following fraction: 98

where:

| A | is the number of Common Shares in issue immediately before the issue of such Common Shares or the grant of such 
 options, warrants or rights;                                                                                    |

| B | is the number of Common Shares which the aggregate consideration (if any) receivable for the issue of such                                                                                                                                              
 Common Shares or, as the case may be, for the Common Shares to be issued or otherwise made available upon the exercise