Company: BCDRF
Filing Date: 2025-10-31
Form Type: 424B5
Source: 0001193125-25-260533
Chunk: 177

Company: Banco Santander, S.A.
Filing Date: 2025-10-31
Form: 424B5
Chunk 177
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 of such debt security in the prospectus, prospectus supplement, product supplement, pricing supplement or any other similar offering document related to the offering of such debt security. |

In addition to the permitted amendments described in the preceding paragraph, Banco Santander and the Trustee may amend or supplement the relevant indenture or the debt securities of any series and the related supplemental indenture without the consent of any holders of the debt securities of such series to conform the provisions of the relevant indenture to this “Description of Debt Securities” section in this registration statement and the applicable prospectus supplement. Banco Santander may make other modifications and amendments with the consent of the holder or holders of not less than a majority in aggregate outstanding principal amount of the debt securities of the series outstanding under the indenture that are affected by the modification or amendment, voting as one class. However, Banco Santander may not make any modification or amendment without the consent of the holder of each debt security affected that would:

| • |     | change the stated maturity of the principal amount of any subordinated debt security; |

| • |     | reduce the principal amount of or the interest rates, or any premium payable upon the redemption of, or any 
 missed payments, with respect to any debt security;                                                         |

| • |     | change our (or any successor’s) obligation to pay Additional Amounts; |

| • |     | change the currency of payment; |

| • |     | impair the right to institute suit for the enforcement of any payment due and payable; |

| • |     | reduce the percentage in aggregate principal amount of outstanding debt securities of the series necessary to 
 modify or amend the indenture or to waive compliance with certain provisions of the                           |

61

| relevant indenture and any Senior Preferred Debt Security Event of Default, Senior Non Preferred Debt Security Event of Default or Subordinated Debt Security Event of Default (as such terms are 
 defined below and described in the relevant prospectus supplement);                                                                                                                               |

| • |     | modify the subordination provisions or the terms of our obligations in respect of the due and punctual payment of 
 the amounts due and payable on the debt securities in a manner adverse to the holders; or                         |

| • |     | modify the above requirements. |

In addition, material variations in the terms and conditions of debt securities of any series, including modifications relating to subordination, redemption, an Senior Preferred Debt Security Event of Default, a Senior Non Preferred Debt Security Event of Default or Subordinated Debt Security Event of Default