Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 16

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 16
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| beneficial interest in the Notes) 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 Notes, in 
 which case the holder agrees to accept in lieu of its rights under the Notes, any such Common Equity Tier 1 Instruments, other securities or other obligations of Banco Santander or another person;                                                     |

| • |     | the cancellation of the Notes or Amounts Due; |

| • |     | the amendment or alteration of the maturity of the Notes or amendment of the interest payable on the Notes, or 
 the date on which the interest becomes payable, including by suspending payment for a temporary period; and    |

| (ii) | that the terms of the Notes are subject to, and may be varied, if necessary, to give effect to, the exercise of 
 the Bail-in Power by the Relevant Resolution Authority.                                                         |

| See “Description of the Notes—Agreement and Acknowledgement with Respect to the Exercise of the Bail-in Power.” |

| Repayment of Principal and Payment of Interest After Exercise of the 
 Bail-in Power                                                        | No repayment or payment of Amounts Due, if any, on the Notes, will be or become due and payable or be paid after the exercise of any Bail-in Power by the Relevant Resolution Authority if and to the extent 
 such amounts have been reduced, converted, cancelled, amended or altered as a result of such exercise.                                                                                                       |

| Payment of Additional Amounts | All amounts payable (whether in respect of principal, redemption amount, interest or otherwise) in respect of the Notes will be made free and clear of                                                                                         
 and without withholding or deduction for or on account of any present or future taxes, duties, assessments or governmental charges (collectively, “Taxes”) of whatever nature imposed or levied by or on behalf of the Kingdom