Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 310

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 310
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 contribution tax on net investment income, as well as tax consequences applicable to U.S. Holders subject to special rules, such as:

| • |     | certain financial institutions; |

| • |     | insurance companies; |

| • |     | dealers or certain traders in securities; |

| • |     | persons holding contingent convertible capital securities, ADSs, Conversion Shares or debt securities as part of 
 a straddle, wash sale, constructive sale, conversion transaction or integrated transaction;                      |

| • |     | persons whose functional currency for U.S. federal income tax purposes is not the U.S. dollar; |

| • |     | entities or arrangements classified as partnerships for U.S. federal income tax purposes; |

| • |     | tax-exempt entities, “individual retirements accounts” or 
 “Roth IRAs”;                                              |

| • |     | persons subject to special tax accounting rules under Section 451 of the Internal Revenue Code of 1986, as 
 amended (the “Code”);                                                                                      |

| • |     | persons who own or are deemed to own 10% or more of our equity by vote or value; or |

| • |     | persons holding debt securities, contingent convertible capital securities, Conversion Shares or ADSs in 
 connection with a trade or business conducted outside the United States.                                 |

If an entity or arrangement that is classified as a partnership for U.S. federal income tax purposes owns debt securities, contingent convertible capital securities, ADSs or Conversion Shares, the U.S. federal income tax treatment of a partner will generally depend on the status of the partner and the activities of the partnership. Partnerships owning debt securities, contingent convertible capital securities, ADSs or Conversion Shares and partners in such partnerships should consult their tax advisors as to the U.S. federal income tax consequences of owning and disposing of the debt securities, contingent convertible capital securities, ADSs or Conversion Shares in their particular circumstances. As used herein, a “U.S. Holder” is a person that for U.S. federal income tax purposes is a beneficial owner of debt securities, contingent convertible capital securities, ADSs or Conversion Shares, as applicable and:

| • |     | an individual who is a citizen or resident of the United States; |

| • |     | a corporation, or other entity taxable as a corporation, created or organized in or under the laws of the United 
 States, any state therein or the District of Columbia; or                                                        |

| • |     | an estate or