4 March 2022

Mandatory tender offer under the voluntary withdrawal from the tender offer regime of Banco Santander Río S.A.

PAGBAM advised Banco Santander Río S.A. (the "Bank" or "Santander Argentina") in the mandatory tender offer (the "Tender Offer") for all of the shares of Santander Argentina that were not owned by the Bank's controlling shareholders. The Tender Offer was made in the framework of the voluntary withdrawal of the Bank's Tender Offer regime approved by the shareholders' meeting on October 12, 2021 and was formally authorized by the Ruling of the Board of Directors of the National Securities Commission (Comisión Nacional de Valores) on December 20, 2021.

The general deadline to accept the Tender Offer began on January 6, 2022 and ended on February 2, 2022, the Bank granted an additional period for the tender offer from February 3 to February 10, 2022. Payment to the shareholders who accepted during the general period was made on February 7, 2022 and payment to the shareholders who accepted during the additional period was made on February 15, 2022. The equitable price for each of the shares was AR$ 34 (US$ 7,138,099).

As a result of the Tender Offer, the Bank acquired 22,336,310 Shares for a total amount of AR$ 759,434,540 (approximately USD $7,138,099.49).

On February 24, 2022, the Board of Directors of the CNV approved the voluntary withdrawal from the public offering regime by means of Resolution RESFC-2022-21645-APN-DIR#CNV.

Counsel to Banco Santander Río S.A.: 

In-house counsel: Celeste Ibáñez and Federico Giovini.

Perez Alati, Grondona, Benites & Arntsen: 

Partners  María Gabriela Grigioni and Diego Serrano Redonnet, counselor Facundo Fernandez Santos, associates Natalia Sofía Güttner and Francisco Vignati Otamendi. 

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