Company: BCDRF
Filing Date: 2025-10-31
Form Type: 424B5
Source: 0001193125-25-260533
Chunk: 279

Company: Banco Santander, S.A.
Filing Date: 2025-10-31
Form: 424B5
Chunk 279
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 share capital was €8,226,997,506.00 represented by a single class of 16,453,995,012 ordinary shares having a par value of fifty euro cents (€0.50) each, represented by means of book
entries.

129

DESCRIPTION OF AMERICAN DEPOSITARY SHARES

American Depositary Shares

Citibank,
N.A., as depositary, will register and deliver American Depositary Shares, also referred to as ADSs. Each ADS will represent the right to receive one (1) fully paid ordinary share deposited with CACEIS Bank Spain, S.A.U., as custodian for the
depositary in the Kingdom of Spain. Each ADS will also represent any other securities, cash or other property which may be held by the depositary. The depositary’s office at which the ADSs will be administered is located at 388 Greenwich
Street, New York, New York 10013, U.S.A.

You may hold ADSs either (A) directly (i) by having an American Depositary Receipt, also
referred to as an ADR, which is a certificate evidencing a specific number of ADSs, registered in your name, or (ii) by having uncertificated ADSs registered in your name, or (B) indirectly by holding a security entitlement in ADSs through
your broker or other financial institution that is a direct or indirect participant in The Depository Trust Company, also called DTC. If you hold ADSs directly, you are a registered ADS holder, also referred to as an ADS holder. This description
assumes you are an ADS holder. If you hold the ADSs indirectly, you must rely on the procedures of your broker or other financial institution to assert the rights of ADS holders described in this section. You should consult with your broker or
financial institution to find out what those procedures are.

Registered holders of uncertificated ADSs will receive statements from the
depositary confirming their holdings.

As an ADS holder, we will not treat you as one of our shareholders and you will not have
shareholder rights. Spanish law governs shareholder rights. The depositary will be the holder of the ordinary shares underlying your ADSs. As a registered holder of ADSs, you will have ADS holder rights. A deposit agreement dated September 22,
2021, as amended from time to time, among us, the depositary and the holders from time to time of American Depositary Receipts issued thereunder sets out ADS holder rights