Company: BCDRF
Filing Date: 2025-02-06
Form Type: 6-K
Source: 0000950103-25-001676
Chunk: 9

Company: Banco Santander, S.A.
Filing Date: 2025-02-06
Form: 6-K
Chunk 9
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 Notes that are located in Italy may tender
their Notes in the Offers through authorised persons (such as investment firms, banks or financial intermediaries permitted to conduct
such activities in Italy in accordance with the Financial Services Act, CONSOB Regulation No. 20307 of 15 February 2018, as amended from
time to time, and Legislative Decree No. 385 of 1 September 1993, as amended) and in compliance with applicable laws and regulations or
with requirements imposed by CONSOB or any other Italian authority.

Each intermediary must comply with the applicable
laws and regulations concerning information duties vis-à-vis its clients in connection with the Notes and/or the Offers.

Spain

Neither the Offers nor the Tender Offer Memorandum
constitute an offer of securities or the solicitation of an offer of securities in Spain which require the approval and the publication
of a prospectus under Regulation (EU) 2017/1129, Spanish Law 6/2023, of 17 March, on the Securities Markets and the Investment Services
(Ley 6/2023, de 17 de marzo, de los Mercados de Valores y de los Servicios de Inversión), as amended from time to time,
and its ancillary and related regulations. Accordingly, the Tender Offer Memorandum has not been and will not be submitted for approval
nor approved by the Spanish Securities Market Regulator (Comisión Nacional del Mercado de Valores, the “CNMV”).

General

The Tender Offer Memorandum does not constitute
an offer to buy or the solicitation of an offer to sell the New Notes, and tenders of Notes for purchase pursuant to the Offer will not
be accepted from Holders, in any circumstances in which such offer or solicitation is unlawful.

In addition to the representations referred to
above, each holder of Notes participating in the Offers will also be deemed to give certain representations and warranties in respect
of the jurisdictions referred to above and generally as set out in "Procedures for submitting Offers to Sell - Representations, warranties and undertakings by the Holders and Direct Participants" of the Tender Offer Memorandum. Any Offer to Sell Notes pursuant
to the Offer from a Holder or its Direct Participant that is unable to make these representations and warranties will not be accepted.
Each of the Offeror, the Sole Dealer Manager and the Tender Agent reserves the right, in its absolute discretion, to investigate, in relation
to any Offer to Sell Notes, whether any