Company: BCDRF
Filing Date: 2025-09-30
Form Type: 6-K
Source: 0000950103-25-012515
Chunk: 1

Company: Banco Santander, S.A.
Filing Date: 2025-09-30
Form: 6-K
Chunk 1
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 2 3 Underlying profit considered for this
purpose is reported profit (excluding non-cash, non-capital ratios impact items)

Non-IFRS and alternative performance measures

Banco Santander,
S.A. (“Santander”) cautions that this document may contain financial information prepared according to International Financial
Reporting Standards (IFRS) and taken from our consolidated financial statements, as well as alternative performance measures (APMs) as
defined in the Guidelines on Alternative Performance Measures issued by the European Securities and Markets Authority (ESMA) on 5 October
2015, and other non-IFRS measures. The APMs and non-IFRS measures were calculated with information from Grupo Santander; however, they
are neither defined or detailed in the applicable financial reporting framework nor audited or reviewed by our auditors. We use the APMs
and non-IFRS measures when planning, monitoring and evaluating our performance. We consider them to be useful metrics for our management
and investors to compare operating performance between accounting periods. Nonetheless, the APMs and non-IFRS measures are supplemental
information; their purpose is not to substitute the IFRS measures. Furthermore, companies in our industry and others may calculate or
use APMs and non-IFRS measures differently, thus making them less useful for comparison purposes. APMs using environmental, social and
governance labels have not been calculated in accordance with the Taxonomy Regulation or with the indicators for principal adverse impact
in SFDR. For more details on APMs and non-IFRS measures, please see the 2024 Annual Report on Form 20-F filed with the U.S. Securities
and Exchange Commission (the SEC) on 28 February 2025 (https://www.santander.com/content/dam/santander-com/en/documentos/informacion-sobreresultados-semestrales-y-anuales-suministrada-a-la-sec/2025/sec-2024-annual-20-f-2024-en.pdf),
as well as the section “Alternative performance measures” of Banco Santander, S.A. (Santander) Q2 2025 Financial Report,
published on 30 July 2025 (https://www.santander.com/en/shareholders-and-investors/financial-and-economic-information#quarterly-results).

Forward-looking statements

Santander Santander hereby warns that this document
may contain 'forward-looking statements', as defined by the US