Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 162

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 162
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 them, may at any time repurchase debt securities in the open market or otherwise and at any price. In the case of subordinated debt securities, senior non preferred debt securities and senior preferred securities where the TLAC/MREL Disqualification Event has been specified of any series, the repurchase of the relevant securities of such series by Banco Santander or any of its subsidiaries shall take place in accordance with Applicable Banking Regulations in force at the relevant time, including the applicable limits referred to in CRR, and will be subject to the prior consent of the Regulator, if and as required. Modification and Waiver Modification Banco Santander and the Trustee may make certain modifications and amendments of the applicable indenture with respect to any series of debt securities without the consent of the holders of the debt securities of that series, 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 under the relevant indenture and in the debt securities of any series;          |

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| • |     | to add to the covenants of Banco Santander for the benefit of the holders of all or any series of debt securities                                                                                                                                     
 (and, if such covenants are to be for the benefit of less than all series of debt 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 under the relevant indenture;                                                                                                                                                                                                               |

| • |     | to add any additional Events of Default; |

| • |     | to change or eliminate any of the provisions of the relevant indenture, or any supplemental indenture, provided                                                                                                                                         
 that any such change or elimination shall become effective only when there is no outstanding debt 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 debt securities of any series; |

| • |     | to change any place of payment under certain circumstances, so long as a place of payment as required by the 
 relevant indenture is maintained;                                                                            |

| • |     | to cure any ambiguity, to correct or supplement any provision in the relevant indenture which may be defective or 
 inconsistent with any other provision of the relevant indenture or in any supplemental indent