Company: BCDRF
Filing Date: 2025-01-08
Form Type: 424B5
Source: 0001193125-25-003514
Chunk: 4

Company: Banco Santander, S.A.
Filing Date: 2025-01-08
Form: 424B5
Chunk 4
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 a portion, of the Amounts Due (as defined herein) on a permanent basis; |

| • |     | the conversion of all, or a portion, of the Amounts Due into Common Equity Tier 1 Instruments (as defined                                                                                                                                               
 herein), 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 Notes, in which case the holder agrees to accept in lieu of its rights under the Notes, any such Common Equity Tier 1 Instruments, other securities or other obligations of Banco Santander or another person;                         |

| • |     | the cancellation of the Notes or Amounts Due; |

| • |     | the amendment or alteration of the maturity of the Notes or amendment of the interest payable on the Notes, or 
 the date on which the interest becomes payable, including by suspending payment for a temporary period; and    |

(ii) that the terms of the Notes are subject to, and may be varied, if necessary, to give effect to, the exercise of the Bail-inPower by the Relevant Resolution Authority. For these purposes, “Amounts Due” are the principal amount of, premium, if any, together with any accrued but unpaid interest, and Additional Amounts (as defined herein), if any, due on the Notes. References to such amounts will include amounts that have become due and payable, but which have not been paid, prior to the exercise of the Bail-inPower by the Relevant Resolution Authority. “Applicable Banking Regulations” means at any time the laws, regulations, requirements, guidelines and policies relating to capital adequacy, resolution and/or solvency including, among others, those giving effect to the MREL and the TLAC or any equivalent or successor principles, then applicable to Banco Santander and/or the Group including, without limitation to the generality of the foregoing, the CRD, the BRRD, the SRM Regulation and those regulations, requirements, guidelines and policies relating to capital adequacy, resolution and/or solvency of the Regulator then applicable to Banco Santander and/or the Group including, among others, those giving effect to the MREL and the TLAC or any equivalent or successor principles, in each case to the extent then in effect in the Kingdom of Spain (whether or not such regulations, requirements, guidelines or policies have the force of law and whether or not they