Banco Santander, S.A. ("Banco Santander" or the "Bank"), in compliance with the Securities Market legislation, hereby communicates the following:
INSIDE INFORMATION
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| Santander has entered into an agreement with Crédit Agricole S.A. for the sale to Crédit Agricole S.A. of its 30.5% stake in CACEIS[1]. Following the envisaged transaction, Crédit Agricole S.A. will control 100% of the share capital of CACEIS. CACEIS is the holding company of a group of entities engaged in the depositary, custody and related asset servicing business. The transaction is consistent with Santander's strategy focus on proactive capital allocation to create shareholder value and would result upon completion in a positive impact of circa 10 basis points on the fully loaded CET1 ratio of the Santander Group. The transaction will not have a relevant impact either on the Group's earnings or on the earnings per share. Completion of the transaction is subject to customary closing conditions, including regulatory approvals, and it is expected to take place in 2025. The joint business of Santander and CACEIS engaged in the depositary, custody and related asset servicing business in Latin America is out of the scope of the transaction and will remain jointly controlled by Santander and CACEIS.
Boadilla del Monte (Madrid), 19 December 2024
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IMPORTANT INFORMATION
Not a securities offer
This document and the information it contains does not constitute an offer to sell nor the solicitation of an offer to buy any securities.
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