Company: BCDRF
Filing Date: 2025-10-31
Form Type: 424B5
Source: 0001193125-25-260533
Chunk: 52

Company: Banco Santander, S.A.
Filing Date: 2025-10-31
Form: 424B5
Chunk 52
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 of the Notes of such series of the amount of interest which would have been received by them had no such withholding or deduction been required. No Additional Amounts will be paid with respect to payments of principal or any premium. However, Banco Santander shall not be required to pay any Additional Amounts in respect of the Notes of any series:

| (i) | to, or to a third party on behalf of, a holder if the holder or the beneficial owner of the Notes of such                                                                                                                           
 series is liable for such Taxes, in respect of the Notes of such series by reason of his having some connection with Spain other than (i) the mere holding of such Note or (ii) the receipt of any payment in respect of such Note; |

| (ii) | to, or to a third party on behalf of, a holder or a beneficial owner in respect of whose series of Notes Banco                                                                                                                                       
 Santander does not receive such information as may be required in order to comply with the applicable Spanish tax reporting obligations, including but not limited to the receipt in a timely manner of a duly executed and completed certificate in 
 accordance with Law 10/2014 and Royal Decree 1065/2007, as amended, and any implementing legislation or regulation;                                                                                                                                  |

| (iii) | to, or to a third party on behalf of, a holder or a beneficial owner of Notes of such series in respect of whom                                                                                                                  
 Banco Santander does not receive such information concerning such holder’s or beneficial owner’s identity and tax residence as may be required in order to comply with the procedures that may be implemented to comply with the 
 interpretation of Royal Decree 1065/2007 eventually made by the Spanish tax authorities;                                                                                                                                         |

| (iv) | presented for payment (where presentation is required) more than 30 days after the Relevant Date, except to the                                                 
 extent that the relevant holder would have been entitled to such Additional Amounts on presenting the same for payment on the expiry of such period of 30 days; |

| (v) | in relation to any estate, inheritance, gift, sales, transfer or similar taxes; |

| (vi) | to, or to a third party on behalf of, individuals resident for tax purposes in the Kingdom of Spain if the                                         
 Spanish tax authorities determine that payments made to such individuals are not exempt from withholding tax and require a withholding to be made; |

| (vii) | to, or to a third party on behalf of,