Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 249

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 249
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 Santander may act as Principal Paying Agent. Banco Santander is entitled to appoint other banks of
international standing as Agents, or, in the case of the Calculation Agent only, Banco Santander may appoint a financial adviser with appropriate expertise. Furthermore, Banco Santander is entitled to terminate the appointment of any Agent. In the
event of such termination or such Agent being unable or unwilling to continue to act as Agent in the relevant capacity, Banco

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Santander will appoint another bank of international standing, or, in the case of the Calculation Agent only, another financial adviser with appropriate expertise as Agent in the relevant
capacity. Such appointment or termination will be published without undue delay in accordance with the contingent convertible capital securities indenture or, should this not be possible, be published in another appropriate manner.

Agreement and Acknowledgement with Respect to the Exercise of the Bail-inPower

Notwithstanding any other term of the contingent convertible capital securities of any series or any other agreements, arrangements, or
understandings between Banco Santander and any holder of the contingent convertible capital securities of any series, by its acquisition of the contingent convertible capital securities of any series, each holder (which, for the purposes of this
clause, includes each holder of a beneficial interest in the contingent convertible capital securities of any series) acknowledges, accepts, consents to and agrees:

(i) to be bound by the effect of the exercise of the Bail-in Power by the Relevant Resolution
Authority, which may include and result in any of the following, or some combination thereof:

- the reduction of all, or a portion, of
the Amounts Due on a permanent basis;

- the conversion of all, or a portion, of the Amounts Due into Common Equity Tier 1 Instruments,
other securities or other obligations of Banco Santander or another person (and the issue to the holder of such Common Equity Tier 1 Instruments, securities or obligations), including by means of an amendment, modification or variation of the terms
of the contingent convertible capital securities, in which case the holder agrees to accept in lieu of its rights under such contingent convertible capital securities any such Common Equity Tier 1 Instruments, other securities or other obligations
of Banco Santander or another person;

- the cancellation of the contingent convertible capital securities or Amounts Due;

- the amendment of the interest payable on the contingent convertible capital securities, or the date on which the interest becomes payable,
including by suspending payment for a temporary period; and

(ii) that the terms of the