Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 72

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 72
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, Avenida de Cantabria s/n, 28660 Boadilla del Monte, Madrid, Spain, and its telephone number is (011)
34-91-259-6520.

2

SUMMARY OF RISK FACTORS Investing in our securities involves risks. Prospective investors should consider carefully the risk factors incorporated by reference into this prospectus and the risk factors described in “Risk Factors” as well as the other information set out elsewhere in this prospectus (including any other documents incorporated by reference herein) and reach their own views prior to making any investment decision with respect to any of the securities described in this prospectus. The following list summarizes some, but not all, of these risks. Please read the information in the section entitled “Risk Factors” for a more thorough description of these and other risks: Macro-economic and political risks

| • |     | Our growth, asset quality and profitability, among others, may be adversely affected by a slowdown in one or more 
 of the economies in which we operate, as well as volatile macroeconomic and political conditions.                 |

| • |     | The war in Ukraine could materially affect our financial position and increase our operational risk. |

| • |     | The global covid-19 pandemic has materially impacted our business, and                                                                                                                                                                          
 the continuance of this pandemic or any future outbreak of any other highly contagious diseases or other public health emergency, could materially and adversely impact our business, financial condition, liquidity and results of operations. |

| • |     | The UK’s withdrawal from the European Union has led to disruptions in our                                           
 UK-based operations that could have a material adverse effect on our operations, financial condition and prospects. |

Risks relating to our business Legal, regulatory and compliance risks for our business model

| • |     | We are exposed to risk of loss from legal and regulatory proceedings. |

| • |     | We are subject to extensive regulation and regulatory and governmental oversight, to potential action by any of                                       
 our regulators or supervisors and to review by tax authorities, any of which could adversely affect our business, operations and financial condition. |

| • |     | We may not be able to detect or prevent money laundering and other financial crime activities fully or on a 
 timely basis, which could expose us to additional liability and could have a material adverse effect on us. |

| • |     | Changes in taxes and other assessments may adversely affect us. |

Credit risks

| • |     | The credit quality of our loan portfolio may deterior