Banco Santander (brasil) S.a. · BMFBOVESPA:SANB3
Banco Santander (brasil) — Merger or Acquisition (October 2014)
5 slides from Banco Santander (brasil)'s merger presentation, Oct 3, 2014
Slide 1: Average of daily prices weighted by volume (VWAP) and book value notes
'= Average ofthe dally prices for Santander Brazil and Santander S.A. weighted by the daily volumes: ram Apr, 2 2013 to Ap 20 2014 oe ee rem Api 292014 to une 10%, 2014 ~ Gen igh ty of Saran Seats uns an Soar SA3 s+ Cystine oem om A be nents piaee eal Sediepasers Prices of each trade respectively on
Slide 2: Considerations on the applicability of the discounted cash flow methodology (DCF)
Considerations on the applicability of the discounted cash flow methodology (DCF) in this specific case n The valuation approach based on DCF or on dividend discount methodologies takes into consideration the companies’ operational and financial characteristics and its growth perspectives, but may b
Slide 3: Valuation of Santander Brazil's units methodologies
The valuation of Santander Brazil´s units is based on the following methodologies: n Volume weighted average price per unit – VWAP 12M before the Material Fact disclosed by Santander S.A. on April, 29 th 2014 – VWAP from the Material Fact date to June 10 th , 2014 n Book value: – Tangible book value
Slide 4: Valuation of Santander S.A. shares methodologies
The valuation of Santander S.A. shares is based on the following methodologies: n Volume weighted average share price: – VWAP 12M before the Material Fact disclosed by Santander S.A. on April, 29 th 2014 – VWAP from the Material Fact date to June, 10 th 2014 n Book value: – Tangible book value 2 (“T
Slide 5: Assumptions for the exchange ratio values
The values presented hereby for the exchange ratio are based on the following assumptions: n EUR/BRL exchange rate as of June 10 th , 2014: 3.02 n For comparable trading multiples valuation ranges: – Minimum of the range correspond to the exchange ratio between the maximum value of the range for San
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