Company: BCDRF
Filing Date: 2025-10-31
Form Type: 424B5
Source: 0001193125-25-260533
Chunk: 192

Company: Banco Santander, S.A.
Filing Date: 2025-10-31
Form: 424B5
Chunk 192
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 action, if required, to implement the exercise of the Bail-inPower with respect to the debt securities of such series as it may be imposed, without any further action or direction on the part of such holder. Each holder of the debt securities also acknowledges and agrees that the foregoing description of the Bail-inPower and its exercise is exhaustive on the matters described herein to the exclusion of any other agreements, arrangements or understandings relating to the application of any Bail-inPower to the debt securities. Discharge, Defeasance and Covenant Defeasance Banco Santander may discharge certain obligations to holders of any series of debt securities that have not already been delivered to the Trustee for cancellation and that have become due and payable, will become due and payable at their stated maturity within one year or, if redeemable at the option of Banco Santander, are called for redemption within one year, by depositing or causing to be deposited with the Trustee, in trust, funds in an amount sufficient, without reinvestment, in the opinion of an internationally recognized firm of independent public accountants, to pay and discharge the entire indebtedness on the debt securities of such series, including principal, interest, premium and any additional amounts to the date of such deposit (if the debt securities of such series have become due and payable) or to the maturity date of the debt securities of such series, as the case may be. Banco Santander may also elect to have its obligations under the relevant indenture discharged with respect to the outstanding debt securities of any series (“legal defeasance”). Legal defeasance means that Banco Santander will be deemed to have paid and discharged the entire indebtedness represented by the outstanding debt securities of such series under the relevant indenture, except for:

| • |     | the rights of holders of the outstanding debt securities of the relevant series to receive principal, interest, 
 any premium and any additional amounts when due from the trust described below;                                 |

| • |     | the obligations of Banco Santander to issue temporary debt securities, register the transfer of debt securities,                                                                  
 replace temporary or mutilated, destroyed, lost or stolen debt securities, pay additional amounts, maintain an office or agency for payment and hold money for payments in trust; |

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| • |     | the rights, powers, trusts, duties and immunities of the Trustee; and |

| • |     | the defeasance provisions of the applicable indenture. |

In addition, Banco Santander may elect to have its obligations released with respect