Company: BCDRF
Filing Date: 2025-10-31
Form Type: 424B5
Source: 0001193125-25-260533
Chunk: 261

Company: Banco Santander, S.A.
Filing Date: 2025-10-31
Form: 424B5
Chunk 261
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reement and Acknowledgement with Respect to the Exercise of the Bail-inPower

Notwithstanding any other term of the contingent convertible capital securities of any series or any other agreements, arrangements, or
understandings between Banco Santander and any holder of the contingent convertible capital securities of any series, by its acquisition of the contingent convertible capital securities of any series, each holder (which, for the purposes of this
clause, includes each holder of a beneficial interest in the contingent convertible capital securities of any series) acknowledges, accepts, consents to and agrees:

(i) to be bound by the effect of the exercise of the Bail-in Power by the Relevant Resolution
Authority, which may include and result in any of the following, or some combination thereof:

- the reduction of all, or a portion, of
the Amounts Due on a permanent basis;

- the conversion of all, or a portion, of the Amounts Due into Common Equity Tier 1 Instruments,
other securities or other obligations of Banco Santander or another person (and the issue to the holder of such Common Equity Tier 1 Instruments, securities or obligations), including by means of an amendment, modification or variation of the terms
of the contingent convertible capital securities, in which case the holder agrees to accept in lieu of its rights under such contingent convertible capital securities any such Common Equity Tier 1 Instruments, other securities or other obligations
of Banco Santander or another person;

- the cancellation of the contingent convertible capital securities or Amounts Due;

- the amendment of the interest payable on the contingent convertible capital securities, or the date on which the interest becomes payable,
including by suspending payment for a temporary period; and

(ii) that the terms of the contingent convertible capital securities are
subject to, and may be varied, if necessary, to give effect to, the exercise of the Bail-in Power by the Relevant Resolution Authority.

For the avoidance of doubt, the potential write-down or cancellation of all or a portion of the Liquidation Preference of—or
Distributions on—the contingent convertible capital securities or the conversion of the contingent convertible capital securities into shares, other security or other obligations in connection with the exercise of any Bail-in Power by the Relevant Resolution Authority is separate and distinct from a conversion or write-down following a Trigger Event although these events may occur consecutively.

No repayment or payment of the Amounts Due, if any, on the contingent convertible capital securities of any series, will become due and
payable or be paid after the exercise of any Bail-in Power by