Company: BCDRF
Filing Date: 2025-05-07
Form Type: 6-K
Source: 0000950103-25-005801
Chunk: 1

Company: Banco Santander, S.A.
Filing Date: 2025-05-07
Form: 6-K
Chunk 1
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, is currently 4.16%. Estimated Total
MREL requirement in terms of TREA plus the Combined Capital Buffer is 36.08%.

As of 31 March 2025, the structure of own funds and eligible liabilities of the Resolution Group meets the requirements of Total MREL and Subordinated MREL.

Boadilla del Monte (Madrid), 7 May 2025

1 In accordance with the Multiple Point of Entry (“MPE”) resolution strategy of Grupo Santander as determined by the SRB:

| - | the Resolution Group is composed of Banco Santander                                                                                      
 and its relevant subsidiaries belonging to the same resolution group, mainly the entities of the sub-groups headed by Santander Consumer 
 Finance, S.A., Open Bank, S.A. and Santander Totta SGPS, S.A. (the “Resolution Group”); and                                              |

| - | a portion of the MREL requirement is calculated                                                                    
 based on the intragroup exposures between the Resolution Group and the other resolution groups of Santander Group. |

2 The new Total MREL requirement has been determined by the SRB considering (i) a downward adjustment of 20% of the market confidence charge (“ MCC”) after determining that, in accordance with the applicable methodology, a lower amount would be sufficient to ensure market confidence, according to Article 12d(3) of Regulation (EU) 806/2014 and the SRB 2024 MREL Policy and (ii) an adjusted regime related to holdings of eligible liabilities instruments applicable to 50% of Banco Santander Mexico, S.A. (which does not belong to the Resolution Group), in accordance with articles 72e(4) and 477a of Regulation (EU) 575/2013.

As of 31 March 2025, with 11 resolution
groups, the estimation of:

| - | The                                                                   
 TREA total amount of the Resolution Group is EUR 415,458 million; and |

| - | The LRE total amount of the Resolution Group is 
 EUR 1,056,521 million.                          |

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

Non-IFRS and alternative performance measures

This document contains 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