🧾 What This Document Is

This is a Form 6-K, a standard report that foreign companies (like this Brazilian bank) file with the U.S. SEC to share important news with American investors. This specific filing is a Notice to Shareholders about a cash payment. Think of it as an official "We're paying our investors" announcement.

🏢 What The Company Does

Banco Santander (Brasil) S.A. (ticker: BSBR) is one of Brazil's largest banks. It's a subsidiary of the global banking giant Santander. 👉 In simple terms, it provides everyday banking services—like checking accounts, loans, and credit cards—to millions of people and businesses across Brazil. It's a major player in the country's financial system.

💰 Financial Highlights: The Payment Details

The bank's Board of Directors approved a major cash distribution to its shareholders, called "Interest on Company’s Equity." This is a specific type of payment common in Brazil that functions much like a dividend.

Here’s the breakdown:

• Total Gross Amount: R$2.0 billion (two billion Brazilian reais).
• Total Net Amount (after tax): R$1.65 billion (one billion, six hundred fifty million Brazilian reais).

👉 What you'll actually receive per share:

• Common Share (ON): R$0.2546 gross / R$0.2101 net.
• Preferred Share (PN): R$0.2801 gross / R$0.2311 net.
• Unit (1 Common + 1 Preferred): R$0.5347 gross / R$0.4411 net.

📅 Key Dates: Mark Your Calendar

Getting the timing right is everything for investors.

• Record Date (April 20, 2026): You must own the shares by the end of this day to get the payment.
• "Ex-Date" (April 22, 2026): If you buy the shares on or after this date, you will not receive this payment. The share price will typically drop by roughly the payment amount.
• Payment Date (May 7, 2026): This is when the cash hits your account.

🌎 What It Means for U.S. Investors (ADR Holders)

If you own Santander Brasil shares through the American Depositary Receipts (ADRs) traded on the NYSE, you’ll get paid too, but it’s handled differently.

• The payment will be processed by The Bank of New York Mellon, the ADR depositary bank.
• The specific U.S. record and payment dates will be posted on their website: www.adrbnymellon.com.
• 👉 Why it matters: You need to check that specific site for the exact dates that apply to your ADR holdings, as they can differ slightly from the Brazilian dates.

🔮 What's Next & Why This Matters

This payment is not a one-off bonus; it's strategically important.

• It Counts Toward Mandatory Dividends: The R$2 billion payment will be fully counted toward the mandatory dividends the bank is required to pay shareholders for the entire year 2026.
• Signals Financial Health: Paying out this much cash (R$1.65 billion net) demonstrates the bank's confidence in its capital position and profitability. It's a direct return of profits to owners.
• Governance Note: The payment is subject to final approval at the 2027 Annual General Meeting, but this Board approval is the decisive step.

⚖️ The Big Picture: Strengths & Risks

• 👍 Strengths: Provides a tangible, predictable cash return to shareholders. Shows strong regulatory capital and profitability. The "Interest on Equity" structure can have tax efficiencies for the company.
• ⚠️ Risks & Considerations: The payment is made in Brazilian Reais (R$), so U.S. investors face currency exchange risk. A large payout reduces the bank's retained earnings, which are used to fund future growth and absorb losses.

🧠 The Analogy

Think of this like a company paying a scheduled "profit-sharing bonus" to its owners (the shareholders). It's not a surprise gift; it's a systematic return of a portion of the profits the bank generated, following local rules. Just as a bonus might be counted against your annual salary guarantee, this payout counts toward the bank's minimum dividend obligation for the year.

🧩 Final Takeaway

Santander Brasil is distributing R$1.65 billion (net) to shareholders in May 2026. This is a routine but significant cash return that fulfills part of its annual dividend requirement. U.S. ADR holders will receive their portion via BNY Mellon, but must check the depositary bank's website for their specific payment details.