Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 187

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 187
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ander may redeem the contingent convertible capital securities following those developments;                                                                                                                                                         |

| • |     | the clearing system or systems on which the contingent convertible capital securities will be cleared and 
 settled; and                                                                                              |

| • |     | any listing on a securities exchange. |

Holders of contingent convertible capital securities shall have no voting rights except those described under the heading “ —Modification and Waiver” below, unless and until such contingent convertible capital securities are converted into Banco Santander’s ordinary shares, in which case holders will have the voting rights described under “Description of Ordinary Shares”. Certain Defined Terms In this “Description of Contingent Convertible Capital Securities” the following terms have the following meanings: “Accounting Currency” means EUR or such other primary currency used in the presentation of the Group’s accounts from time to time; “Additional Tier 1 Capital” means additional tier 1 capital ( capital de nivel 1 adicional) in accordance with Chapter 3 (Additional Tier 1 capital) of Title I (Elements of own funds) of Part Two (Own Funds and Eligible Liabilities) of the CRR and/or Applicable Banking Regulations at any time, including any applicable transitional, phasing in or similar provisions; “Additional Tier 1 Instrument” means any instrument of Banco Santander qualifying as Additional Tier 1 Capital in whole or in part from time to time; “ADS Depositary” means Citibank, N.A., as the depositary under Banco Santander’s ordinary share American Depository Facility or any successor ADS depositary; “Agents” means the agents appointed in accordance with the contingent convertible capital securities indenture or applicable supplemental indenture; “Amounts Due” means the Liquidation Preference, together with any accrued but unpaid Distributions, and Additional Amounts, if any, due on the contingent convertible capital securities of any series. References to such amounts will include amounts that have become due and payable, but which have not been paid, prior to the exercise of the Bail-inPower by the Relevant Resolution Authority; “Applicable Banking Regulations” means at any time the laws, regulations, requirements, guidelines and policies relating to capital adequacy, resolution and/or solvency including, among others, those giving effect to 76

the MREL and the TLAC or any equivalent or successor principles, then applicable to Banco Santander and/or the Group including, without limitation to the generality of the foregoing, the CRD IV,
the BRRD, the SRM Regulation and those regulations,