Company: BCDRF
Filing Date: 2025-10-31
Form Type: 424B5
Source: 0001193125-25-260533
Chunk: 168

Company: Banco Santander, S.A.
Filing Date: 2025-10-31
Form: 424B5
Chunk 168
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 whose series of debt                                                                                                                                                
 securities Banco Santander does not receive such information as may be required in order to comply with the applicable Spanish tax reporting obligations, including but not limited to the receipt in a timely manner of a duly executed and completed 
 certificate in accordance with Law 10/2014 and Royal Decree 1065/2007, as amended, and any implementing legislation or regulation; or                                                                                                                  |

| (iii) | to, or to a third party on behalf of, a holder or a beneficial owner of debt securities in respect of whom                                                                                                                       
 Banco Santander does not receive such information concerning such holder’s or beneficial owner’s identity and tax residence as may be required in order to comply with the procedures that may be implemented to comply with the 
 interpretation of Royal Decree 1065/2007 eventually made by the Spanish tax authorities; or                                                                                                                                      |

| (iv) | presented for payment (where presentation is required) more than 30 days after the Relevant Date, except to the                                                    
 extent that the relevant holder would have been entitled to such Additional Amounts on presenting the same for payment on the expiry of such period of 30 days; or |

| (v) | in relation to any estate, inheritance, gift, sales, transfer or similar taxes; or |

| (vi) | to, or to a third party on behalf of, individuals resident for tax purposes in the Kingdom of Spain if the                                            
 Spanish tax authorities determine that payments made to such individuals are not exempt from withholding tax and require a withholding to be made; or |

| (vii) | to, or to a third party on behalf of, a Spanish-resident legal entity subject to Spanish corporation tax if the 
 Spanish tax authorities determine that the debt securities of such series do not comply                         |

55

| with exemption requirements specified in the Reply to a Consultation of the Directorate General for Taxation (Dirección General de Tributos) dated 27 July 2004 and require a 
 withholding to be made; or                                                                                                                                                    |

| (viii) | where the withholding or deduction is required pursuant to an agreement described in Section 1471(b) of                                                                                                                                                  
 the United States Internal Revenue Code of 1986, as amended (the “Code”), or otherwise imposed pursuant to Sections 1471 through 1474 of the Code (“FATCA”), any regulations or agreements thereunder, any official                                      
 interpretations thereof, any intergovernmental agreements with respect thereto (including the intergovernmental