Banco Santander Chile announced the expiration of its previously announced cash tender offer for up to $558,957,000 combined aggregate principal amount of its outstanding 3.875% Senior Fixed Rate Notes due 2022 and Senior Floating Rate Notes due 2018 from each registered holder of Notes subject to the limitations and conditions as described in Santander Chile's offer to purchase dated February 17, 2016. Santander Chile refers to its offer with respect to the 2022 Fixed Rate Notes as the "Fixed Spread Offer" and its offer with respect to the 2018 Floating Rate Notes as the "Fixed Price Offer". As the Expiration Date for the Offer was March 15, 2016, the deadline for tendering Notes pursuant to the Offer has now passed.

As of the Early Tender Deadline, Santander Chile accepted $418,853,000 aggregate principal amount of the 2022 Fixed Rate Notes and $140,104,000 aggregate principal amount of the 2018 Floating Rate Notes and purchased such Notes on the Early Settlement Date. The Offer was fully subscribed as of the Early Tender Deadline. Accordingly, no additional Notes tendered after the Early Tender Deadline were accepted for purchase.