• Banco Santander raised its exchange offer ratio by 5% to acquire the remaining approximately 10% of Santander Brasil.
• Holders would receive 0.4260 newly issued Santander shares per unit or ADS, or 0.2130 per common or preferred share, before dividend adjustments.
• Dividend-adjusted ratios are 0.4246 per unit or ADS, 0.2124 per common share and 0.2122 per preferred share.
• Full acceptance would require approximately 166 million new shares, representing 1.1% of current capital, with maximum consideration of approximately €1.9 billion.
• Shareholders are expected to vote on the required capital increases December 15, 2026; the offer remains subject to regulatory approvals.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Banco Santander (Brasil) SA published the original content used to generate this news brief on November 12, 2026, and is solely responsible for the information contained therein.