Company: BCDRF
Filing Date: 2025-07-01
Form Type: 6-K
Source: 0000950103-25-008222
Chunk: 2

Company: Banco Santander, S.A.
Filing Date: 2025-07-01
Form: 6-K
Chunk 2
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ION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE OR TO WHOM IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.

<div align='center'>IMPORTANT INFORMATION</div>

This announcement must be read in conjunction with
the Tender Offer Memorandum. This announcement and the Tender Offer Memorandum contain important information which should be read carefully
before any decision is made with respect to the Offer. If any Qualifying Holder is in any doubt as to the contents of this announcement,
the Tender Offer Memorandum or the action it should take, it is recommended to seek its own financial, legal, regulatory and tax advice,
including in respect of any tax consequences, immediately from its broker, bank manager, solicitor, accountant or other independent financial,
tax or legal adviser.

The distribution of this announcement and the Tender
Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender
Offer Memorandum comes are required by each of the Offeror, the Dealer Managers and the Tender Agent to inform themselves about, and to
observe, any such restrictions.

Notice to U.S. Investors

The proposed transaction relates to the securities
of Banco Santander, S.A., a company incorporated in Spain. Information distributed in connection with the proposed transaction is subject
to Spanish disclosure requirements that are different from those of the United States.

It may be difficult for you to enforce your rights
and any claim you may have arising under the U.S. federal securities laws in respect of the proposed transaction, since the company is
located in Spain and some or all of its officers and directors are residents of Spain. You may not be able to sue the company or its officers
or directors in a Spanish court for violations of the U.S. securities laws. Finally, it may be difficult to compel the company and its
affiliates to subject themselves to a U.S. court’s judgment.

You should be aware that the company may purchase
subject securities otherwise than under the proposed transaction, such as in open market or privately negotiated purchases, at any time
during the pendency of the proposed transaction.

<div align='center'>SIGNATURE</div>

Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

| Date: | July 1, 2025 |     |