Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 241

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 241
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 full; and (g) where the provisions of “ —Conversion Upon Trigger Event” above require or provide for a determination by an Independent Financial Adviser or a role to be performed by a Settlement Shares Depository or a Paying and Conversion Agent, Banco Santander shall use all reasonable endeavors promptly to appoint such persons for such purposes. Modification and Waiver Banco Santander and the Trustee may make certain modifications and amendments to the contingent convertible capital securities indenture and any applicable supplemental indenture with respect to any series of 110

contingent convertible capital securities of that series without the consent of the holders of such contingent convertible capital securities, including for, but not limited to, any of the following purposes:

| • |     | to evidence the succession of another corporation to Banco Santander and the assumption by any such successor of                                                
 the covenants of Banco Santander in the contingent convertible capital securities indenture and in the contingent convertible capital securities of any series; |

| • |     | to add to the covenants of Banco Santander for the benefit of the holders of all or any series of contingent                                                                                                                                              
 convertible capital securities (and, if such covenants are to be for the benefit of less than all series of contingent convertible capital securities, stating that such covenants are expressly being included solely for the benefit of such series) or 
 to surrender any right or power conferred upon Banco Santander by the contingent convertible capital securities indenture;                                                                                                                                |

| • |     | to add any additional Enforcement Events; |

| • |     | to make changes to procedures relating to Trigger Conversion, delivery of the Common Shares, or ADSs, as 
 applicable;                                                                                              |

| • |     | to change or eliminate any of the provisions of the contingent convertible capital securities indenture, or any                                                                                                                                           
 supplemental indenture, provided that any such change or elimination shall become effective only when there is no outstanding contingent convertible capital security of any series created prior to the execution of such supplemental indenture that is 
 entitled to the benefit of such provision or as to which such supplemental indenture would apply;                                                                                                                                                         |

| • |     | to secure the contingent convertible capital securities; |

| • |     | to change any place of payment, so long as a place of payment as required by the contingent convertible capital 
 securities indenture is maintained;                                                                             |

| • |     | to cure any ambiguity, to correct or supplement any provision of the contingent convertible capital securities                                                         
 indenture which may be defective or inconsistent