Banco Santander S.A. conducted an Extraordinary General Meeting on November 28, 2025, where they approved the hiring of PricewaterhouseCoopers for an appraisal report, ratified a partial spin-off of Return Capital Gestão de Ativos e Participações S.A., and incorporated the spun-off portion into the company, with significant support (around 6.87 billion votes in favor).