Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 268

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 268
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 your broker or other financial institution to assert the rights of ADS holders described in this section. You should consult with your broker or
financial institution to find out what those procedures are.

Registered holders of uncertificated ADSs will receive statements from the
depositary confirming their holdings.

As an ADS holder, we will not treat you as one of our shareholders and you will not have
shareholder rights. Spanish law governs shareholder rights. The depositary will be the holder of the ordinary shares underlying your ADSs. As a registered holder of ADSs, you will have ADS holder rights. A deposit agreement dated September 22,
2021, as amended from time to time, among us, the depositary and the holders from time to time of American Depositary Receipts issued thereunder sets out ADS holder rights as well as the rights and obligations of the depositary. New York law governs
the deposit agreement and the ADSs.

The following is a summary of the material provisions of the deposit agreement. For more complete
information, you should read the entire deposit agreement and the form of ADR. See “Incorporation of Documents by Reference.”

Deposit and Withdrawal

How are ADSs issued?

The depositary will deliver ADSs if you or your broker deposits ordinary shares or evidence of rights to receive ordinary shares with the
custodian with any appropriate documentation that the custodian requires. Upon payment of applicable fees and expenses and of any taxes or charges, the depositary will register the appropriate number of ADSs in the names you request and will deliver
the ADSs to or upon the order of the person or persons that made the deposit.

The delivery of ADSs against deposit of shares generally or
against deposit of particular shares may be suspended, or the registration of transfer of ADSs in particular instances may be refused, or the registration of transfer of outstanding ADSs generally may be suspended, during any period when the
transfer books of the depositary are closed, or if any such action is deemed necessary or advisable by the depositary or us at any time or from time to time because of any requirement of law or of any government or governmental body or commission,
or under any provision of the deposit agreement.

How can ADS holders withdraw the deposited securities?

You may surrender your ADSs for the purpose of withdrawal at the depositary’s office. Upon payment of applicable fees and expenses and of
any taxes or charges and, if applicable, the documents or endorsements

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requested by the depositary, the depositary