Company: BCDRF
Filing Date: 2025-07-01
Form Type: 6-K
Source: 0000950103-25-008246
Chunk: 8

Company: Banco Santander, S.A.
Filing Date: 2025-07-01
Form: 6-K
Chunk 8
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 either express or implied, as to the accuracy, validity, sequence, timeliness, completeness or continued availability of any information or data, including third - party content, made available herein. in no event shall Visible Alpha be liable for any decision made or action or inaction taken in reliance on any information or data, including third - party content. Visible Alpha further explicitly disclaims, to the fullest extent permitted by applicable law, any warranty of any kind, whether express or implied, including warranties of merchantability, fitness for a particular purpose and non - infringement. (2) As announced on 5 February 2025, the board intends to allocate €10bn to shareholder remuneration in the form of share buybacks, corresponding to the 2025 and 2026 results, as well as to the expected excess capital. This share buyback target includes: (i) buybacks that are part of the existing shareholder remuneration policy outlined below, and (ii) additional buybacks following the publication of annual results to distribute year - end excesses of CET1 capital. The ordinary remuneration policy for the 2025 results, which the board intends to apply, will remain the same as for the 2024 results, consisting of a total shareholder remuneration of approximately 50% of the Group's reported profit (excluding noncash and non - capital ratios impact items), distributed in approximately equal parts between cash dividends and share buybacks. The execution of the shareholder remuneration policy and share buybacks to distribute the excess CET1 capital is subject to corporate and regulatory approvals. (3) On 5 May 2025 when announcing the agreement for the sale of 49% of Santander Polska, Santander announced that it intended to distribute in early 2026 50% of the capital released from that disposal upon completion, equivalent to approximately €3.2 billion of share buybacks as part of the additional buybacks referred to in the note 2 and subject to approvals as noted there.

Thank You. Our purpose is to help people and businesses prosper. Our culture is based on believing that everything we do should be:

<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 |     | Banco Santander, S.A. 
 By:                   |