Company: BCDRF
Filing Date: 2025-08-01
Form Type: 6-K
Source: 0000950103-25-009669
Chunk: 2

Company: Banco Santander, S.A.
Filing Date: 2025-08-01
Form: 6-K
Chunk 2
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 (-0.25%), leading to a ratio of approximately 12.51%, which is consistent with the interpretation 
 made by Banco Santander of the application of CRR3 calculation for the Fully-loaded CET1          
 ratio;                                                                                            |

| (ii) | several                                                                                          
 adjustments have been made for the estimate of a final Fully-loaded CET1 ratio as of 31 December 
 2024, amongst others, the exclusion of the possibility foreseen in articles 314.3 and 314.4      
 of CRR3 related to the application of the alternative standardized approach to calculate         
 the own-funds requirement for operational risk (-0.32%), leading to a ratio of approximately     
 12.19%.                                                                                          |

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

Not a securities offer

This document and the information it contains does
not constitute an offer to sell nor the solicitation of an offer to buy any securities.

Past performance does not indicate future outcomes

Statements about historical performance or growth
rates must not be construed as suggesting that future performance, share price or results (including earnings per share) will necessarily
be the same or higher than in a previous period. Nothing in this document should be taken as a profit and loss forecast.

Third Party Information

In this document, Santander relies on and refers
to certain information and statistics obtained from publicly-available information and third-party sources, which it believes to be reliable.
Neither Santander nor its directors, officers and employees have independently verified the accuracy or completeness of any such publicly-available
and third-party information, make any representation or warranty as to the quality, fitness for a particular purpose, non-infringement,
accuracy or completeness of such information or undertake any obligation to update such information after the date of this document.
In no event shall Santander be liable for any use by any party of, for any decision made or action taken by any party in reliance upon,
or for inaccuracies or errors in, or omission from, such publicly-available and third-party information contained herein. Any sources
of publicly-available information and third-party information referred or contained herein retain all rights with respect to such information
and use of such information herein shall not be deemed to grant a license to any third party.

<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: | August