Company: BCDRF
Filing Date: 2025-10-31
Form Type: 424B5
Source: 0001193125-25-260533
Chunk: 66

Company: Banco Santander, S.A.
Filing Date: 2025-10-31
Form: 424B5
Chunk 66
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 a greater impact on taxpayers who apply the rules approved by an Autonomous Region in which the Net Wealth Tax is not paid. The rates of the Solidarity Tax are (i) 1.7% on a net worth between EUR 3,000,000 and EUR 5,347,998.03, (ii) 2.1% on a net worth between EUR 5,347,998.03 and EUR 10,695,996.06 and (iii) 3.5% on a net worth of more than EUR 10,695,996.06. Although the Solidarity Tax was initially designed to be temporary, its application has been indefinitely extended, pursuant to the Fifth Additional Provision of Royal Decree-Law8/2023 of 27 December adopting measures to deal with the economic and social consequences of the conflicts in Ukraine and the Middle East and to alleviate the effects of the drought (Real Decreto-ley8/2023, de 27 de diciembre, por el que se adoptan medidas para afrontar las consecuencias económicas y sociales derivadas de los conflictos en Ucrania y Oriente Próximo, así como para paliar los efectos de la sequía), until a revision of Spanish wealth taxation takes place in the context of a reform of the Spanish regional financing system. However, non-Spanishresident individuals will be exempt from Net Wealth Tax and Solidarity Tax in respect of the debt securities to the extent that the income deriving from the debt securities is exempt from NRIT as described in “ Taxation—Spanish Taxation—A. Taxation in Spain of debt securities—3.1 Non-residentIncome Tax (Impuesto sobre la renta de No Residentes)”in the accompanying prospectus. S-40

Non-Spanishresident legal entities are not subject to Net Wealth Tax nor to the Solidarity Tax. Prospective investors are advised to seek their own professional advice in relation to the Net Wealth Tax and the Solidarity Tax.

| 3.3 | Inheritance and Gift Tax (Impuesto sobre Sucesiones y Donaciones) |

Individuals not resident in Spain for tax purposes who acquire ownership or other rights over debt securities by inheritance, gift or legacy, will be subject to the Spanish Inheritance and Gift Tax in accordance with the applicable Spanish regional and state rules, unless they reside in a country for tax purposes with which Spain has entered into a DTT in relation to Inheritance and Gift Tax. In