Company: BCDRF
Filing Date: 2025-04-04
Form Type: 6-K
Source: 0000950103-25-004384
Chunk: 6

Company: Banco Santander, S.A.
Filing Date: 2025-04-04
Form: 6-K
Chunk 6
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 excluded from the calculation corresponding to the aforementioned authorisations.

6º B

| · | Reduction                                               
 in share capital through the cancellation of own shares |

It is hereby resolved to reduce the share capital
of the Bank by up to a maximum amount of EUR 757,624,616, which is equal to 10% of the share capital of the Bank as of the date of this
report, once rounded down to the nearest multiple of the nominal value per unit of the share, corresponding to a maximum of 1,515,249,232 shares
having a nominal value of fifty euro cents each, through the cancellation of the own shares acquired by the Company under the current
authorisation to acquire own shares approved by the shareholders at the ordinary general shareholders’ meeting of 31 March 2023
under item 5 C of the agenda, any other resolution that may hereafter replace it, or any resolution of the shareholders relating to the
acquisition of own shares, all pursuant to the provisions of applicable law and regulations and after obtaining any relevant regulatory
approvals (the “Capital Reduction”).

| · | Implementation period |

3

| This document is a translation of an original text in Spanish. In case of any discrepancy between both texts, the Spanish version will prevail. |

The period for implementation of this resolution
shall be the shorter of one year or by the date of the next ordinary general meeting, and this resolution shall be deprived of effect
to the extent of the Capital Reduction not implemented by the end of such period.

During the effective period of the authorisation,
the Capital Reduction may be implemented in whole or in part in the manner and on the occasions that the board of directors or, by delegation
thereof, the executive committee and/or any director with delegated powers, deems most appropriate, within the limits established in this
resolution and by law. Notwithstanding the foregoing, if the board of directors (with express powers of substitution to the executive
committee or any director with delegated powers) does not consider it advisable to implement the Capital Reduction within the aforementioned
period in consideration of market conditions, conditions of the Bank itself or those arising from any significant social or economic fact
or event, it may submit to the shareholders the possibility of revoking it.

The Capital Reduction shall also be deprived of
all effect if the board of directors, or by substitution, the executive committee or any director with delegated powers, does not exercise
the powers delegated thereto within the period set by the shareholders for the implementation