Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 79

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 79
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 absorption is required by the SRB to avoid a resolution process).

Chapter VI of Law 11/2015, of June 18, for the recovery and resolution of credit institutions and investment firms, as amended or
superseded from time to time (“Law 11/2015”), regulates a set of measures targeted at ensuring that shareholders, subordinated creditors (including holders of securities) and certain senior creditors (including holders of securities) bear
losses through a burden sharing mechanism within the framework of resolution processes. These measures could include the discharge of any indebtedness and a stay of payment in

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respect of any indebtedness imposed by the Single Resolution Board (the “SRB”), the Fondo de Reestructuración Ordenada Bancaria (the “FROB”) or any other entity
with the authority to exercise the relevant tools and powers from time to time under Law 11/2015 (each, a “Relevant Resolution Authority”), even against the will or without the consent of those holding the relevant securities. Measures
include repurchases of the debt securities at a certain price determined by the FROB, their exchange for other securities, the exercise of any Spanish Bail-in Power (as defined below) or Non-Viability Loss Absorption (as defined below).

The “Spanish
Bail-in Power” means any write-down, conversion, transfer, modification, or suspension power existing from time to time under, and exercised in compliance with any laws, regulations, rules or requirements
in effect in Spain, relating to the transposition of the Directive 2014/59/EU establishing a framework for the recovery and resolution of credit institutions and investment firms, as may be amended or superseded from time to time or come into effect
in place thereof (the “BRRD”), including, but not limited to (i) Law 11/2015 (as defined herein), (ii) Royal Decree 1012/2015, of 6 November developing Law 11/2015, as amended or superseded from time to time (“RD
1012/2015”), (iii) the Regulation (EU) No. 806/2014 of the European Parliament and of the Council of 15 July 2014, establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment
firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No. 1093/2010, as amended