Company: BCDRF
Filing Date: 2025-10-31
Form Type: 424B5
Source: 0001193125-25-260533
Chunk: 95

Company: Banco Santander, S.A.
Filing Date: 2025-10-31
Form: 424B5
Chunk 95
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) the principal amount of Additional Tier 1 Instruments; (iii) the
principal amount of Tier 2 Instruments; (iv) the principal amount of other subordinated claims that do not qualify as Additional Tier 1 Capital or Tier 2 Capital; and (v) the principal or outstanding amount of the other liabilities subject
to bail-in as prescribed in Article 41 of Law 11/2015. Any application of the Spanish Bail-in Power under the BRRD shall be in accordance with the hierarchy of claims in
normal insolvency proceedings (with “non-preferred” senior claims subject to the Spanish Bail-in Power after any subordinated claims against Banco Santander
but before the other senior claims against Banco Santander).

In addition to the Spanish Bail-in
Power, the BRRD, Article 38 of Law 11/2015 and the SRM Regulation provide for the Relevant Resolution Authority to have the further power to permanently write-down (including to zero) or convert into equity capital instruments (such as the
Additional Tier 1 Instruments or the Tier 2 Instruments) and certain internal eligible liabilities at the point of non-viability of an institution or a group of which the institution forms part (the “Non-Viability Loss Absorption”). The point of non-viability of an institution is the point at which the Relevant Resolution Authority determines that the
institution meets the conditions for resolution, or that it will no longer be viable unless the relevant capital instruments are written down or converted into equity, or that extraordinary public support is to be provided and without such support
the Relevant Resolution Authority determines that the institution would no longer be viable. The point of non-viability of a group is the point at which the group infringes or there are objective elements to
support a determination that the group, in the near future, will infringe its consolidated solvency requirements in a way that would justify action by the Relevant Resolution Authority in accordance with Article 38.3 of Law 11/2015. Non-Viability Loss Absorption may be imposed prior to or in combination with any exercise of the Spanish Bail-in Power or any other resolution tool or power (where the
conditions for resolution referred to above are met).

Any application of the Spanish Bail-in
Power and the Non-Viability Loss Absorption shall be in accordance with the hierarchy of claims in normal insolvency proceedings (unless otherwise provided by Applicable

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Banking Regulations). Accordingly, the impact of such application on holders will depend on the ranking of the relevant