Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 201

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 201
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 have at least the same ranking as the contingent convertible capital securities;

(vi) not, immediately following such substitution or variation, be subject to a Capital Event and/or a Tax Event; and

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(vii) be listed or admitted to trading on any stock exchange as selected by Banco Santander,
if the contingent convertible capital securities were listed or admitted to trading on a stock exchange immediately prior to the relevant substitution or variation pursuant to “—Substitution and Variation.”

“RD 1012/2015” means Royal Decree 1012/2015, of 6 November developing Law 11/2015, as amended or superseded from time to time;

“Recognized Stock Exchange” means a regulated regularly operating, recognized stock exchange or securities market in an OECD
member state;

“Redemption Price” means, per contingent convertible capital security, the Liquidation Preference plus, if
applicable, where not cancelled pursuant to, or otherwise subject to the limitations on payment set out in “—Distributions”, an amount equal to accrued and unpaid Distributions for the then current Distribution Period to (but
excluding) the date fixed for redemption of the contingent convertible capital securities of the relevant series;

“Reference
Page” means the relevant page on Bloomberg or Reuters or such other information service provider that displays the relevant information chosen by Banco Santander at its own discretion;

“Regulated Entity” means any entity to which BRRD, as implemented in the Kingdom of Spain (including but not limited to, Law
11/2015, RD 1012/2015 and any other implementing regulations), or any other Spanish law relating to the Bail-in Power, applies, which includes, certain credit institutions, investment firms, and certain of
their parent or holding companies.

“Regulator” means the European Central Bank, the Bank of Spain, the Relevant Resolution
Authority or such other or successor authority exercising primary bank supervisory authority or the role of primary bank resolution authority, in each case with respect to prudential or resolution matters in relation to Banco Santander and/or the
Group;

“Relevant Resolution Authority” means the Spanish Fund for the Orderly Restructuring of Banks, the Bank of Spain, the
European Single Resolution Board, as the case may be, according to Law 11/2015, and any other entity with the authority to exercise the Bail-in Power or any other resolution power from time to time;

“Relevant Stock Exchange” means the Spanish Stock Exchanges or if at the relevant