Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 304

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 304
---
 the depository of the issuer’s shares held by the shareholder is resident, domiciled or represented in Spain. If this certificate of tax residence, or as the case may be, the equivalent document referred to above, is not provided to the relevant depository within this time period or if the depositary of the non Spanish shareholder is not resident, domiciled or represented in Spain, the non Spanish shareholder may subsequently obtain a refund of the amount withheld in excess from the Spanish tax authorities, following the standard refund procedure established by the regulations approved by Royal Decree 1776/2004, dated 30 July 2004, and an Order dated 17 December 2010, as amended described below under “— Spanish refund procedure”. Spanish refund procedure According to Royal Decree 1776/2004, dated July 30 and the Order of the Ministry of Finance and Order dated December 17, 2010, a refund of an amount withheld in excess of any applicable NRIT (taking into account an available exemption or reduction under the NRIT Law or applicable DTT) can be requested and obtained directly from the relevant Spanish tax authorities. To pursue the refund claim, the shareholder (who is the beneficial owners entitled to receive the income payments in respect of the ordinary shares) is required to file inter alia:

| • |     | the corresponding Spanish tax refund form (currently, tax form 210); |

| • |     | a valid certificate of tax residence issued by the relevant tax authorities of the country of residence of the                                                                                                                                           
 relevant shareholder stating that the shareholder is a resident of such country (and, in case an exemption or reduction of NRIT is claimed pursuant to a DTT, such certificate must indicate that the relevant investor is a resident therein within the 
 meaning of the relevant DTT) or, as the case may be, the equivalent DTT form; and                                                                                                                                                                        |

| • |     | documentary evidence of the bank account to which the excess amount withheld should be paid. |

For further details, prospective shareholders should consult their own tax advisors. 154

Taxation of capital gains Capital gains derived from the transfer or sale of the ordinary shares will be deemed to be income arising in Spain, and, therefore, subject to NRIT, at the applicable rate (currently set at 19%). Gains arising from the sale of the ordinary shares are not currently subject to withholding tax on account of NRIT. As a general rule, capital gains and losses will be calculated separately for each transaction and it is