Company: BCDRF
Filing Date: 2025-10-31
Form Type: 424B5
Source: 0001193125-25-260533
Chunk: 39

Company: Banco Santander, S.A.
Filing Date: 2025-10-31
Form: 424B5
Chunk 39
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 parent or holding companies.

“Regulator” means the European Central Bank, the Bank of Spain, the Relevant Resolution Authority or such other or
successor authority exercising primary bank supervisory authority or the role of primary bank resolution authority, in each case with respect to prudential or resolution matters in relation to Banco Santander and/or the Group.

“Relevant Resolution Authority” means the Spanish Fund for the Orderly Restructuring of Banks, the Bank of Spain, the
European Single Resolution Board, as the case may be, according to Law 11/2015, and any other entity with the authority to exercise the Bail-in Power or any other resolution power from time to time.

S-23

“Senior Higher Priority Liabilities” means the unsubordinated and
unsecured obligations (créditos ordinarios) of Banco Santander, other than the Senior Non Preferred Liabilities.

“Senior Non Preferred Liabilities” means any unsubordinated and unsecured senior non preferred obligations
(créditos ordinarios no preferentes) of Banco Santander under Additional Provision 14.2 of Law 11/2015 (including the Notes) and any other obligations which, by law and/or by their terms, and to the extent permitted by Spanish law,
rank pari passu with the Senior Non Preferred Liabilities.

“Spanish Insolvency Law” means the restated text of
the Spanish Insolvency Law (Ley Concursal) approved by the Royal Decree-Legislative 1/2020, of 5 May, as amended or replaced from time to time.

“SRM Regulation” means Regulation (EU) No. 806/2014 of the European Parliament and of the Council of 15 July
2014, establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund, as amended or replaced from time to time.

“Supervisory Permission” means, in relation to any action, such supervisory permission (or, as appropriate, waiver)
from the Regulator as is required therefor under Applicable Banking Regulations.

“TLAC” means the “total
loss-absorbing capacity” requirement for global systemically important institutions under the CRR, set in accordance with Article 92a of the CRR and/or any other Applicable Banking Regulations.

The Notes

The 2030 Floating Rate Notes

The Senior Non Preferred Floating Rate Notes due 2030 (the “2030 Floating