Banco Santander(SAN) - 2022 Q4 - Annual Report

Tender Offers - Banco Santander announced the extension of the expiration date for its Tender Offers until April 10, 2023, for both the Mexican and U.S. Offers[7]. - The Tender Offers aim to acquire approximately 3.76% of Santander Mexico's outstanding share capital, specifically targeting Series B shares and American Depositary Shares[6]. - As of February 28, 2023, approximately 143,720 Shares had been validly tendered, representing about 0.056% of the outstanding Series B Shares not owned by Banco Santander or its affiliates[9]. - The completion of the Tender Offers is subject to certain conditions, including the absence of any material adverse change in the financial condition of Santander Mexico[10]. - Banco Santander plans to deregister the Series B Shares from the Mexican National Securities Registry and delist them from the Mexican Stock Exchange following the Tender Offers[6]. - The U.S. Offer is subject to the terms set forth in the U.S. Offer to Purchase filed with the SEC, while the Mexican Offer follows the informative memorandum[6]. - Investors are advised to read all relevant documents regarding the Tender Offers carefully, as they contain important information[12]. Forward-Looking Statements and Risks - Forward-looking statements regarding the Tender Offers reflect management's current views and estimates, but are subject to risks and uncertainties[16]. - The risks include potential business disruptions, economic conditions, and changes in legislation that could affect the Tender Offers[17]. - Banco Santander does not assume any obligation to update forward-looking statements based on new information or future events[19].