Company: BCDRF
Filing Date: 2025-01-16
Form Type: 6-K
Source: 0000950103-25-000553
Chunk: 7

Company: Banco Santander, S.A.
Filing Date: 2025-01-16
Form: 6-K
Chunk 7
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or sold in the United States absent registration under, or an exemption from the registration requirements of, the Securities Act.

Each Holder of Notes participating in the Offer
will represent that it is not located in the United States and it is not participating in the Offer from the United States or it is acting
on a non-discretionary basis for a principal located outside the United States that is not giving an order to participate in the Offer
from the United States.

For the purposes of this and above paragraphs,
“United States” means the United States of America, its territories and possessions, any state of the United States
of America and the District of Columbia.

United Kingdom

The communication of the Tender Offer Memorandum
and any other documents or materials relating to the Offer are not being made and such documents and/or materials have not been approved
by an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000. Accordingly, such documents and/or
materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such
documents and/or materials as a financial promotion is only being made to, and may only be acted upon by, those persons in the United
Kingdom falling within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act
2000 (Financial Promotion) Order 2005, as amended (the “Financial Promotion Order”)) or persons who are within Article
43 of the Financial Promotion Order or any other persons to whom it may otherwise lawfully be made under the Financial Promotion Order.

France

The Tender Offer Memorandum and any documents or
offering materials relating to the Offer may not be distributed in the Republic of France except to qualified investors (investisseurs qualifiés) as defined in Article 2(e) of the Prospectus Regulation, as amended, and Article L.411-2 of the French Code monétaire
et financier as amended from time to time. The Tender Offer Memorandum has not been and will not be submitted for clearance to nor approved
by the Autorité des marchés financiers.

Republic of Italy

None of the Offer, the Tender Offer Memorandum
or any other documents or materials relating to the Offer have been or will be submitted to the clearance procedures of the Commissione
Nazionale per le Società e la Borsa ("CONSOB") pursuant to Italian laws and regulations. The Offer is being