Banco Santander Brasil (NYSE: BSBR) okays Return Capital partial spin-off and merger with no new shares
Rhea-AI Filing Summary
Banco Santander (Brasil) S.A. held an Extraordinary General Meeting on November 28, 2025, with shareholders representing 92.02% of voting capital in attendance. Shareholders ratified the appointment of PricewaterhouseCoopers Auditores Independentes Ltda. to prepare the valuation report for a corporate reorganization involving Return Capital Gestão de Ativos e Participações S.A. (“Return”).
They approved the valuation report and the protocol and justification for a partial spin-off of Return, under which a spun-off portion of Return’s net equity will be transferred to Santander Brasil. Shareholders then approved the merger of this spun-off portion into Santander Brasil, noting that this merger will not result in a capital increase or the issuance of new shares by the bank. Finally, they authorized and ratified all management acts needed to implement these resolutions.
Positive
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Negative
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Insights
Santander Brasil approves merger of spun‑off Return Capital assets with no new shares issued.
Santander Brasil (BSBR) obtained strong shareholder participation, with
The key business effect is that a defined portion of Return’s net equity will be transferred and then merged into Santander Brasil, pursuant to Brazilian corporate law. The resolutions explicitly state that the merger of this spun‑off portion will occur without any capital increase or issuance of new shares, so the structure is intra‑group rather than an equity‑raising event.
Voting outcomes showed overwhelming majorities in favor across all items, indicating broad shareholder support for the reorganization mechanics presented on
SECURITIES AND EXCHANGE COMMISSION
Commission File Number: 001-34476
Bloco A – Vila Olimpia
São Paulo, SP 04543-011
Federative Republic of Brazil
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
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Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
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Indicate by check mark whether by furnishing the information contained in this Form, the Registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:
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If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A
[Free English Translation]
BANCO SANTANDER (BRASIL) S.A.
Public Company with Authorized Capital
Taxpayer Registry Number (CNPJ/MF) 90.400.888/0001-42
Company Registry Number (NIRE) 35.300.332.067
MINUTE OF THE EXTRAORDINARY GENERAL MEETING
HELD ON NOVEMBER 28th, 2025
DATE, TIME, AND PLACE: November 28th, 2025, at 3 p.m., at the headquarters of Banco Santander (Brasil) S.A. (“Santander Brasil” or “Company”) located in the city of São Paulo, State of São Paulo, at Avenida Presidente Juscelino Kubitschek, No. 2041 – CJ 281, Bloco A, Cond. Wtorre JK - Vila Nova Conceição - CEP 04543-011.
INSTALLATION QUORUM: Shareholders representing 92.02% of the voting capital of the Company, as verified by the signatures in the Shareholders' Attendance Book and considering the remote voting ballots, as per the summarized voting map disclosed by the Company.
BOARD: Mrs. Carolina Trindade, as President; and Mr. Rafael Tridico Faria, as Secretary.
CALL AND LEGAL PUBLICATIONS: Call notice published in the newspaper “Valor Econômico”, editions of October 30, 31 and November 1, 2025.
(a) AGENDA: (a) To ratify the hiring of PricewaterhouseCoopers Auditores Independentes Ltda., as a specialized company responsible for preparing the appraisal report on the portion of the net equity of Return Capital Gestão de Ativos e Participações S.A. to be transferred to the Company (“Appraisal Report” and “Return” respectively); (b) To approve the Appraisal Report; (c) To approve the Private Instrument of Protocol and Justification of the Partial Spin-Off of Return with the transfer of the Spun-Off Portion to the Company, entered into on October 29, 2025 (“Protocol and Justification of the Partial Spin-off of Return”); (d) To Approve the incorporation of the spun-off portion of Return by the Company, pursuant to the Protocol and Justification of the Partial Spin-off of Return (“Merger”), in accordance with art. 227 of Law No. 6,404/76, as amended; and (e) If the previous matters are approved, authorize and ratify all the acts of the Company's managers necessary for the effectiveness of the resolutions proposed and approved by the Company's shareholders.
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READING OF DOCUMENTS, VOTING, AND DRAFTING OF THE MINUTES: (1) The reading of the documents related to the Agenda was dismissed, considering that they are entirely knew by the shareholders and were disclosed on the Brazilian Securities and Exchange Commission website (Comissão de Valores Mobiliários - “CVM” - www.cvm.gov.br) on October 29, 2025; (2) The declarations of votes, objections and divergences submitted shall be numbered, received and certified by the Board and shall be kept filed at the Company’s headquarters, pursuant to Article 130, first paragraph, of Law No. 6,404/76, as amended, and will be sent to the CVM by means of an electronic system available on the CVM's website in the world computer network, pursuant to Article 22, IX, of CVM Resolution 80/2022, as amended; and (3) Authorized the drafting of these minutes as summary, and its publishing without the signatures of all the attending shareholders, pursuant to Article 130, paragraphs 1st and 2nd, of the Brazilian Corporations Law.
REMOTE VOTING: The attending shareholders resolved to dismiss the reading of the Consolidate Voting Map disclosed to market on November 27, 2025, pursuant to the Sole Paragraph of Article 46-C of CVM Resolution No. 81/2022, which was made available for shareholders' appreciation. With regard to the provisions of Subsection I of § 5 of the Article 48 of the aforementioned CVM Resolution, it is recorded that the participating shareholders had no interest in altering the vote casted through the remote voting ballots.
RESOLUTIONS: Following the discussions related to the Agenda’s matters, the attending shareholders of the Company resolved to, with abstention of the prevent shareholders:
(a) TO RATIFY, by majority, with 6,874,977,540 favorable votes (3,520,799,623 common shares and 3,354,177,917 preferred shares), 11,342 opposing votes (5,671 common shares and 5,671 preferred shares), and 7,752 votes not cast due to abstentions (3,876 common shares and 3,876 preferred shares), the engagement of PricewaterhouseCoopers Auditores Independentes Ltda., the specialized firm responsible for preparing the Valuation Report.
(b) TO APPROVE, by majority, with 6,874,967,308 favorable votes (3,520,794,507 common shares and 3,354,172,801 preferred shares), 12,890 opposing votes (6,445 common shares and 6,445 preferred shares), and 16,436 votes not cast due to abstentions (8,218 common shares and 8,218 preferred shares), the Valuation Report, which forms part of these minutes as Annex A to the Protocol and Justification of Return’s Partial Spin-Off.
(c) TO APPROVE, by majority, with 6,874,955,038 favorable votes (3,520,788,372 common shares and 3,354,166,666 preferred shares), 16,966 opposing votes (8,483 common shares and 8,483 preferred shares), and 24,630 votes not cast due to abstentions (12,315 common shares and 12,315 preferred shares), the Protocol and Justification of Return’s Partial Spin-Off, which forms part of these minutes as Annex I.
(d) TO APPROVE, by majority, with 6,874,955,052 favorable votes (3,520,788,379 common shares and 3,354,166,673 preferred shares), 16,192 opposing votes (8,096 common shares and 8,096 preferred shares), and 25,390 votes not cast due to abstentions (12,695 common shares and 12,695 preferred shares), the Merger, recording that such merger will not result in a capital increase or issuance of new shares by the Company.
(e) TO AUTHORIZE AND RATIFY, by majority, with 6,874,955,056 favorable votes (3,520,788,381 common shares and 3,354,166,675 preferred shares), 18,852 opposing votes (9,426 common shares and 9,426 preferred shares), and 22,726 votes not cast due to abstentions (11,363 common shares and 11,363 preferred shares), all acts of the Company’s managers necessary to implement the resolutions proposed and approved by the Company’s shareholders.
CLOSING: There being no further matters to be resolved, the Meeting was finalized, and these minutes have been prepared, which were read, approved, and signed by the Board members and the attending shareholders.
SIGNATURES: Carolina Trindade – President; Rafael Tridico Faria – Secretary. Shareholders: BANCO SANTANDER, S.A. – Carolina Trindade, attorney-in-fact; GRUPO EMPRESARIAL SANTANDER, S.L. – Carolina Trindade, attorney-in-fact; STERREBEECK, B.V. – Carolina Trindade, attorney-in-fact; ARROWSTREET (DELAWARE) L/S FUND L.P.; LORENTZ; CCANDL Q EMERGING MARKETS EQUITY UCITS FUND A SUB FUND OF CO; REASSURE LIMITED; HSBC INDEX TRACKER INVEST. FUNDS FTSE ALL WORLD INDEX FUND; PHOENIX U T M L R P A S INDEX EMERGING MARKET EQUITY FUND; LEMANIA GLOBAL EQUITY; ARROWSTREET CAPITAL GLOBAL EQUITY LONG/SHORT FUND LIMITED; ARROWSTREET CAPITAL GLOBAL ALL COUNTRY ALPHA EXTENSION FUND; ARROWSTREET CAPITAL ESG GLOBAL EQUITY LONG/SHORT F; ARROWSTREET ACWI ALPHA EXTENSION FUND V (CAYMAN) L; ARROWSTREET (CANADA)
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INTERNATIONAL DEVELOPED MARKE; ARROWSTREET (DELAWARE) ALPHA EXTENSION FUND L.P.; AMUNDI ETF ICAV - AMUNDI PRIME ALL COUNTRY WORLD UCITS ETF; ARROWSTREET ACWI ALPHA EXTENSION COMMON VALUES TRU; ARROWSTREET ACWI EX US ALPHA ESTENSION TRUST FUND; ARROWSTREET CLARENDON TRUST FUND; ARROWSTREET (DELAWARE) CUSTOM ALPHA EXTENSION FUND; JPMORGAN GLOBAL ALLOCATION FUND; JEFFREY LLC; FLEXSHARES MORNINGSTAR EMERGING MARKETS FACTOR TILT INDEX F; TEACHERS RETIREMENT SYSTEM OF THE CITY OF NEW YORK; CONSTRUCTION BUILDING UNIONS SUPER FUND; GODFOND SVERIGE VARLDEN; SPP EMERGING MARKETS PLUS; VERDIPAPIRFONDET STOREBRAND INDEKS ALLE MARKEDER; VERDIPAPIRFONDET STOREBRAND INDEKS NYE MARKEDER; MINISTRY OF ECONOMY AND FINANCE; GLOBAL EX-US ALPHA TILTS FUND; VANGUARD EMERGING MARKETS STOCK INDEX FUND; VANGUARD ESG INTERNATIONAL; COMMINGLED PENSION TRUST FUND EMERGING MARKETS RESEARCH ENHA; JPMORGAN EMERGING MARKETS RESEARCH ENHANCED EQUITY FUND; AVIVA I INVESTMENT FUNDS ICVC - AVIVA I INTERNATIONAL I T F; VANGUARD FIDUCIARY TRT COMPANY INSTIT T INTL STK MKT INDEX T; VANGUARD F. T. C. INST. TOTAL INTL STOCK M. INDEX TRUST II; GLOBAL ALL CAP ALPHA TILTS FUND; NYLI WMC INTERNATIONAL RESEARCH EQUITY FUND; JPMORGAN ACTIVEBUILDERS EMERGING MARKETS EQUITY ETF; JNL EMERGING MARKETS INDEX FUND; COMMINGLED PEN TR FD (ACTIVEBUILDERS EM MKTS EQ) OF JPMCB NA; JPMORGAN BETABUILDERS EMERGING MARKETS EQUITY ETF; FACTORY MUTUAL INSURANCE COMPANY; CARESUPER; STOREBRAND SICAV; COMMINGLED PENSION TRUST FUND (GLOBAL ALL COUNTRY RESEARCH E; VANGUARD EMERGING MARKETS EX-CHINA ETF; CAPITAL GROUP EMPLOYEE BENEFIT INVESTMENT TRUST; CAPITAL INTERNATIONAL FUND; COINVEST LTD; JPMORGAN FUNDS LATIN AMERICA EQUITY FUND; BUREAU OF LABOR FUNDS - LABOR PENSION FUND; BUREAU OF LABOR FUNDS - LABOR RETIREMENT FUND; NEW WORLD FUND, INC.; STOREBRAND GLOBAL ALL COUNTRIES; STOREBRAND EMERGING MARKETS; VANGUARD TOTAL INTERNATIONAL STOCK INDEX FD, A SE VAN S F; RAYTHEON TECHNOLOGIES C. M. R. TRUST; CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM; STATE OF ALASKA RETIREMENT AND BENEFITS PLANS; LEGAL AND GENERAL ASSURANCE PENSIONS MNG LTD; AMERICAN FUNDS INS SERIES NEW WORLD FUND; LOCKHEED MARTIN CORP MASTER RETIREMENT TRUST; DIMENSIONAL EMERGING MKTS VALUE FUND; MANAGED PENSION FUNDS LIMITED; STATE UNIVERSITY RETIREMENT SYSTEM; MULTI STYLE MULTI MANAGER FUNDS PLC; 3M EMPLOYEE RETIREMENT INCOME PLAN TRUST; NORGES BANK; NAV CANADA PENSION PLAN; PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO; THE BOARD OF.A.C.E.R.S.LOS ANGELES,CALIFORNIA; THE PUBLIC INSTITUITION FOR SOCIAL SECURITY; THE EMERGING M.S. OF THE DFA I.T.CO.; UTAH STATE RETIREMENT SYSTEMS; NTCC COLLECTIVE FUNDS FOR EMPLOYEE BENEFIT TRUSTS; EMER MKTS CORE EQ PORT DFA INVEST DIMENS GROU; ALASKA PERMANENT FUND; AUSTRALIAN RETIREMENT TRUST; CITY OF NEW YORK GROUP TRUST; BMO MSCI EMERGING MARKETS INDEX ETF; WELLINGTON TRUST COMPANY N.A.; BLACKROCK LIFE LIMITED - DC OVERSEAS EQUITY FUND; THE MASTER TRT BK JPN TRUSTEE OF JPM BRICS5 MOTHER FUND; RBC CANADIAN MASTER TRUST; STANLIB FUNDS LIMITED; THE MASTER T BK OF JPN, LTD AS T OF NIKKO BR EQ MOTHER FUND; LEGAL & GENERAL GLOBAL EMERGING MARKETS INDEX FUND; SPDR SP EMERGING MARKETS ETF; CUSTODY B. OF J. LTD. RE: STB D. E. E. F. I. M. F.; SCOTIA PRIVATE EMERGING MARKETS POOL; DWS EMERGING MARKETS EQUITY FUND AS SERIES OF DEUTSCHE DWS; CANADA PENSION PLAN INVESTMENT BOARD; FIRST TRUST LATIN AMERICA ALPHADEX FUND; ERIE INSURANCE EXCHANGE; VANGUARD EMERGING MARKETS SELECT STOCK FUND; IVESCO FTSE RAFI EMERGING MARKETS ETF; ISHARES V PUBLIC LIMITED COMPANY; PEOPLE S BANK OF CHINA; SCHWAB FUNDAMENTAL EMERGING MARKETS LARGE COMPANY INDEX FUND; DIVERSIFIED EQUITY MASTER PORTFOLIO OF MASTER INVESTMENT POR; CUSTODY B. OF J. LTD. RE: STB D. B. S. M. F.; ISHARES EMERGING MARKETS FUNDAMENTAL INDEX ETF; COLONIAL FIRST STATE EMERGING MARKETS FUND 4; LEGAL & GENERAL INTERNATIONAL INDEX TRUST; VANGUARD FUNDS
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PUBLIC LIMITED COMPANY; VANGUARD TOTAL WORLD STOCK INDEX FUND, A SERIES OF; LOCKHEED MARTIN CORP DEFINED CONTRIBUTION PLANS MASTER TRUST; ARROWSTREET US GROUP TRUST; INVESCO SP EMERGING MARKETS LOW VOLATILITY ETF; AMERICAN HEART ASSOCIATION, INC.; ISHARES EMERGING MARKETS DIVIDEND ETF; PICTET GLOBAL SELECTION FUND - G G M FUND; BIMCOR GLOBAL EQUITY POOLED FUND; COLONIAL FIRST STATE GLOBAL SHARE FUND 22; COLONIAL FIRST STATE GLOBAL SHARE FUND 23; SCOTTISH WIDOWS INVESTMENT SOLUTIONS FUNDS ICVC- FUNDAMENTAL; SCHWAB EMERGING MARKETS EQUITY ETF; SCHWAB FUNDAMENTAL EMERG0ING MARKETS LARGE COMPANY INDEX ETF; THE BANK OF N. Y. M. (INT) LTD AS T. OF I. E. M. E. I. F. UK; ARROW. CAP. IR. LTD FAOBO ARR. GL. EQ. CCF, ASFOTA CCF; INVESCO MARKETS III PLC - INV FTSE RI EMERGING MARK U ETF; STATE STREET IRELAND UNIT TRUST; COLONIAL FIRST STATE EMERGING MARKETS FUND 6; ISHARES GLOBAL MONTHLY DIVIDEND INDEX ETF (CAD-HEDGED); SPDR SP EMERGING MARKETS FUND; AMERICAN FUNDS DEVELOPING WORLD GROWTH AND INCOME FUND; XTRACKERS (IE) PUBLIC LIMITED COMPANY; ARROWSTREET CAPITAL GLOBAL EQUITY LONG/SHORT FUND LIMITED; WELL MANAG FUNDS (LUXEMBOURG) - WELL EMERG MKTS R E FUND; SCOTTISH WIDOWS MANAGED INVESTMENT FUNDS ICVC -INT; VANGUARD FUNDS PLC / VANGUARD ESG GLOBAL ALL CAP U; LEGAL & GENERAL GLOBAL EQUITY INDEX FUND; HSBC BANK PLC AS TRUSTEE OF STATE STREET AUT EMERG; LEGAL GENERAL U. ETF P. LIMITED COMPANY; ARROWSTREET (DELAWARE) ALPHA EXTENSION FUND L.P.; JNL/JPMORGAN GLOBAL ALLOCATION FUND; BRIGHTER SUPER; PIMCO EQUITY SERIES: PIMCO RAE EMERGING MARKETS FUND; PIMCO RAE EMERGING MARKETS FUND LLC; ARROWSTREET ACWI ALPHA EXTENSION COMMON VALUES TRU; COMMONWEALTH OF MASSACHUSETTS EMPLOYEES DEFERRED COMP PLAN; ARROWSTREET GLOBAL MINIMUM VOLATILITY ESG ALPHA EX; COLUMBIA EM CORE EX-CHINA ETF; LEGAL & GENERAL FUTURE WORLD ESG EMERGING MARKETS; ARROWSTREET COLLECTIVE INVESTMENT TRUST; INVESCO MARKETS III PLC - INVESCO FTSE EMERGING MA; DWS IMVESTMEMT GMBH FOR DEUTSCHE GPF; THE MASTER TRUST BANK OF JAP, LTD. AS TR. FOR MTBJ400045828; THE BOARD OF THE PENSION PROTECTION FUND; VANGUARD FUNDS PLC / VANGUARD ESG EMERGING MARKETS; SCOTTISH W I S F ICVC-E. MRKT PARIS-A INDEX E.T. FUND; ARROWSTREET CAPITAL COPLEY FUND LIMITED; VANGUARD INTERNATIONAL HIGH DIVIDEND YIELD INDEX F; STRIVE EMERGING MARKETS EX-CHINA ETF; MBB PUBLIC MARKETS I LLC; WELL MGT FUNDS (LUXEMBOURG) II SICAV - WELL GL M A T R FD; SCOTIA EMERGING MARKETS EQUITY INDEX TRACKER ETF; ARROWSTREET INTERNATIONAL EQUITY ACWI EX US TRUST FUND; GOLDMAN SACHS ETF TRUST II - GOLDMAN SACHS MARKETB; FRANKLIN TEMPLETON ETF T - FRANKLIN LIBERTYQ EMERGING M ETF; LEGAL & GENERAL ICAV; CC&L Q EMERGING MARKETS EQUITY FUND LP; VANGUARD INV FUNDS ICVC-VANGUARD FTSE GLOBAL ALL CAP INDEX F; PARKER FOUNDATION, INC.; ARROWSTREET INTERNATIONAL EQUITY EAFE ALPHA EXTENSION CIT; ARROWSTREET CAPITAL GLOBAL ALL COUNTRY ALPHA EXTENSION FUND; PIMCO EQUITY SERIES: PIMCO RAFI DYNAMIC MULTI-FACTOR EMERGIN; EMERGING MARKETS EQUITY SELECT ETF; LEGAL GENERAL SCIENTIFIC BETA EMERGING MARKETS FUND, LLC; FRANKLIN LIBERTYSHARES ICAV; THE INCUBATION FUND, LTD.; FRANKLIN LIBERTYQT EMERGING MARKETS INDEX ETF; JPMORGAN ETFS (IRELAND) ICAV; FRANKLIN TEMPLETON ETF TRUST - FRANKLIN FTSE BRAZI; MERCER EMERGING MARKETS SHARES FUND; DWS INVESTMENT S.A. FOR ARERO - DER WELTFONDS; FIRST TRUST BLOOMBERG EMERGING MARKET DEMOCRACIES; FRANKLIN TEMPLETON ETF TRUST - FRANKLIN FTSE LATIN; CAMBRIA GLOBAL VALUE ETF; XTRACKERS MSCI ACWI EX USA ESG LEADERS EQUITY ETF; ARROWSTREET (DELAWARE) L/S FUND L.P.; UBS FUND MANAGEMENT (SWITZERLAND) AG ON BEHALF OF ZURICH INV; WELLINGTON TRUST COMPANY, NATIONAL ASSOCIATION MUL; WELLINGTON-CIS GLOBAL EQUITY FUND, L.P.; STICHTING BEDRIJFSTAKPENSIOENFONDS VOOR DE DETAILHANDEL; ARROWSTREET CLARENDON TRUST FUND; ARROWSTREET (CANADA) INTERNATIONAL DEVELOPED MARKE; ARROWSTREET ACWI EX US ALPHA ESTENSION TRUST FUND; CONNOR CLARK & LUNN
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COLLECTIVE INVESTMENT TRUST; ARROWSTREET (CANADA) ACWI MINIMUM VOLATILITY ALPHA EXTENSION; ARROWSTREET CAPITAL NEWBURY FUND LIMITED; MERCER UCITS COMMON CONTRACTUAL FUND; SPDR S&P EMERGING MARKETS EX-CHINA ETF; ARROWSTREET CAPITAL ESG GLOBAL EQUITY LONG/SHORT F; ARROWSTREET (DELAWARE) CUSTOM ALPHA EXTENSION FUND; DFC EMERGING MARKETS EQUITY FUND; ALL COUNTRY EX US EQUITY MARKET SUBTRUST OF DFA GR; CC&L Q EMERGING MARKETS EQUITY FUND; GOLDMAN SACHS ETF TRUST - GOLDMAN SACHS EMERGING M; WELLINGTON MANAGEMENT FUNDS (LUXEMBOURG) III SICAV; CPPIB MAP CAYMAN SPC; ARROWSTREET GLOBAL EQUITY - ALPHA EXTENSION FUND; VANGUARD INVESTMENT SERIES PLC / VANGUARD ESG EMER; ARERO - DER WELTFONDS -NACHHALTIG; INVESCO OPPENHEIMER GLOBAL MULTI-ASSET GROWTH FUND; DIMENSIONAL EMERGING CORE EQUITY MARKET ETF OF DIM; MACKENZIE EMERGING MARKETS EQUITY INDEX ETF; JOHN HANCOCK TRUST COMPANY COLLECTIVE INVESTMENT T; WELLINGTON TRUST COMPANY, NATIONAL ASSOCIATION MUL; ARROWSTREET EMERGING MARKET TRUST FUND; WILLINEY SILVA MOREIRA PEREIRA – by remote voting ballot; ITAU ACOES DIVIDENDOS FI; ITAU INDEX ACOES IBOVESPA FUNDO DE INVESTIMENTO FINANCEIRO R; ITAU PREVIDENCIA IBRX FUNDO DE INVESTIMENTO FINANCEIRO EM AC; ITAU EXCELENCIA SOCIAL ACOES FUNDO DE INVESTIMENTO SUSTENTAV; ITAU CAIXA ACOES - FUNDO DE INVESTIMENTO; ITAU PHOENIX ACOES FIF RL; ITAU INDEX ACOES IBRX FUNDO DE INVESTIMENTO FINANCEIRO RESPO; ITAU MOMENTO II ACOES FUNDO DE INVESTIMENTO; IT NOW IFNC FUNDO DE INDICE; IT NOW ISE FUNDO DE INDICE; ITAU MASTER GLOBAL DINAMICO MULTIMERCADO FUNDO DE INVESTIMEN; ITAU DUNAMIS MASTER FUNDO DE INVESTIMENTO EM ACOES; ITAU IBOVESPA ATIVO MASTER FUNDO DE INVESTIMENTO EM ACOES; ITAU IBRX ATIVO MASTER FIA; ITAU FTSE RAFI BRAZIL 50 CAPPED INDEX FIA; IT NOW IBOVESPA FUNDO DE ═NDICE; ITAU S&P/B3 LOW VOLATILITY FIA; ITAU ASGARD INSTITUCIONAL ACOES FUNDO DE INVESTIMENTO FINANC; ITAU ASGARD ACOES FUNDO DE INVESTIMENTO FINANCEIRO RESPONSAB; ITAU MOMENTO IQ ACOES FUNDO DE INVESTIMENTO; ITAU MOMENTO ESG ACOES FIF SUSTENTAVEL RL; ITAU MASTER MOMENTO ACOES FUNDO DE INVESTIMENTO FINANCEIRO R; ITAU MASTER GLOBAL DINAMICO ULTRA MULTIMERCADO FUNDO DE INVE; ITAU BALANCEADO ATIVO FUNDO MUTUO DE PRIVATIZACAO FGTS CARTE; IT NOW IBOVESPA B3 BR+ FUNDO DE NDICE - RESPONSABILIDADE LIM, represented by Anderson Carlos Koch, attorney-in-fact; and THE BANK OF NEW YORK MELLON – Carolina Trindade, attorney-in-fact.
We certify that this is a true transcript of the minutes recorded in the Minutes of the General Meeting Book of the Company.
Rafael Tridico Faria
Secretary
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Banco Santander (Brasil) S.A. | ||
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By: |
/S/ Reginaldo Antonio Ribeiro
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Reginaldo Antonio Ribeiro Officer without specific designation |
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By: |
/S/ Gustavo Alejo Viviani
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Gustavo Alejo Viviani Vice - President Executive Officer |
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FAQ
What corporate action did Banco Santander (Brasil) S.A. (BSBR) approve regarding Return Capital?
Shareholders approved a partial spin-off of Return Capital Gestão de Ativos e Participações S.A., in which a spun-off portion of Return’s net equity will be transferred and merged into Banco Santander (Brasil) S.A., under a protocol and justification dated October 29, 2025.
Did the merger of the spun-off portion of Return cause any new share issuance by BSBR?
No. The resolutions expressly state that the merger of the spun-off portion of Return will not result in a capital increase or the issuance of new shares by Banco Santander (Brasil) S.A.
Who prepared the valuation report for the Return Capital partial spin-off transaction at BSBR?
Shareholders ratified the hiring of PricewaterhouseCoopers Auditores Independentes Ltda. as the specialized firm responsible for preparing the valuation (appraisal) report on the portion of Return’s net equity to be transferred to Banco Santander (Brasil) S.A.
What was the shareholder attendance level at Banco Santander (Brasil) S.A.’s November 28, 2025 EGM?
The Extraordinary General Meeting held on November 28, 2025 was installed with shareholders representing 92.02% of the Company’s voting capital, considering in-person attendance and remote voting ballots.
What items related to the Return Capital transaction did BSBR shareholders vote on?
Shareholders voted to ratify the appraiser’s engagement, approve the valuation report, approve the protocol and justification for Return’s partial spin-off, approve the merger of the spun-off portion into Santander Brasil, and authorize and ratify management acts needed to implement these decisions.
How were remote voting ballots handled in the BSBR November 2025 Extraordinary General Meeting?
The meeting recognized remote voting ballots in its quorum calculation and referenced a consolidated voting map disclosed on November 27, 2025. Participating shareholders indicated they had no interest in changing votes previously cast via remote ballots.
