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1 August 12, 2026 SANTANDER HOLDINGS USA, INC. Second Quarter 2026 Fixed Income Investor Presentation2 This presentation of Santander Holdings USA, Inc. (“SHUSA”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans and future performance of SHUSA. Words such as “may,” “could,” “should,” “will,” “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “goal” or similar expressions are intended to indicate forward-looking statements. Although SHUSA believes that the expectations reflected in these forward-looking statements are reasonable as of the date on which the statements are made, factors such as the risks and uncertainties described in SHUSA’s filings with the Securities and Exchange Commission from time to time may cause SHUSA’s performance to differ materially from that suggested by the forward-looking statements. If one or more of the factors affecting SHUSA’s forward-looking statements renders those statements incorrect, SHUSA’s actual results, performance or achievements could differ materially from those expressed in or implied by the forward-looking statements. Readers should not consider these factors to be a complete set of all potential risks or uncertainties as new factors emerge from time to time. In this presentation, we may sometimes refer to certain non-GAAP figures or financial ratios to help illustrate certain concepts. These ratios, each of which is defined in this document, if utilized, may include Pre- Tax Pre- Provision Income, the Tangible Common Equity to Tangible Assets Ratio, and the Texas Ratio. This information supplements our results as reported in accordance with generally accepted accounting principles (“GAAP”) and should not be viewed in isolation from, or as a substitute for, our GAAP results. We believe that this additional information and the reconciliations we provide may be useful to investors, analysts, regulators and others as they evaluate the impact of these items on our results for the periods presented due to the extent to which the items are indicative of our ongoing operations. Where applicable, we provide GAAP reconciliations for such additional information. SHUSA’s subsidiaries include Santander Consumer USA Inc. (“SC”), Santander Bank, N.A. (“SBNA”), Banco Santander International (“BSI”), Santander Securities LLC (“SSLLC”), Santander US Capital Markets LLC (“SanCap”), as well as several other subsidiaries. The information in this presentation is intended only to assist investors and does not constitute legal, tax, accounting, financial or investment advice or an offer to invest. In making this presentation available, SHUSA gives no advice and makes no recommendation to buy, sell, or otherwise deal in shares or other securities of Banco Santander, S.A. (“Santander”), SHUSA, SBNA, SC or any other securities or investments. It is not our intention to state, indicate, or imply in any manner that current or past results are indicative of future results or expectations. As with all investments, there are associated risks, and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal, and financial advisors and independently evaluate the risks, consequences, and suitability of that investment. No offering of securities shall be made in the United States except pursuant to registration under the Securities Act of 1933, as amended, or an exemption therefrom. Important Information3 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities4 Consumer Market-leading full spectrum auto lender and Consumer & Business Banking (“CBB”) $64B Commercial Leading multifamily bank lender and proven servicer $26B Corporate & Investment Banking (“CIB”) Global hub for capital markets and investment banking $36B Wealth Management Leading brand in LatAm for ultra-high-net-worth (“UHNW”) and high-net-worth (“HNW”) clients $64B4 SHUSA Total $165B5 SHUSA 1 | Asset-backed securitizations. 2 | Certificates of deposit. 3 | Federal Home Loan Bank borrowings. 4 | Represents assets and assets under management (“AUM”), which includes customer deposits, securities, loans and letters of credits. 5 | Includes assets categorized as “other”; excludes AUM. SHUSA SC Fund auto loans & leases with warehouse borrowings, ABS1, unsecured SHUSA debt SBNA Fund consumer & commercial loans with deposits, brokered CDs2 & sweeps, FHLB3, ABS New auto originations transitioned to SBNA beginning March 2026 SanCap Fund capital markets with repos (FICC central clearing & bilateral/triparty), SHUSA op lines BSI International wealth management business Core Segments Q2 2026 Assets BANCO SANTANDER, S.A. Source of Strength / Intragroup Funding5 SHUSA Q2 2026 Results at a Glance Improved Financial Metrics Normalized Credit Strong Capital / Liquidity $1.5B NET INTEREST INCOME (“NII”) Up 1.7% QoQ Up 2.7% YoY 13.2% 30-89 DAYS AUTO1 DELINQUENCY Up 95bps QoQ Up 62bps YoY 13.7% COMMON EQUITY TIER 1 (“CET1”) Up 68bps QoQ Up 84bps YoY $585M NET INCOME Up 41.2% QoQ Up 17.5% YoY 0.5% NCO RATE2 Down 15bps QoQ Flat YoY 27.5% TOTAL LOSS ABSORBING CAPACITY (“TLAC”) RATIO Up 280bps QoQ Up 110bps YoY 4.0% NET INTEREST MARGIN (“NIM”) Up 9bps QoQ Up 16bps YoY 6.9% ALLOWANCE RATIO3 Down 14bps QoQ Down 47bps YoY $79.6B SHUSA DEPOSITS Down 2.0% QoQ Down 0.9% YoY 1 | Consumer auto only. 2 | Total quarterly net charge-offs (“NCOs”) / average balance of financing receivables (Consumer + Commercial). 3 | Allowance for credit losses (“ACL”) to total loans outstanding.6 Webster Transaction On August 4th, 2026, Santander received Federal Reserve approval for the acquisition of Webster Financial Corporation (“Webster”). This follows the approval by the Office of the Comptroller of the Currency on June 12, 2026, and the authorization granted by the European Central Bank on July 21, 2026. The transaction is now expected to close on August 20, 2026. 1 | Based on reported figures as of June 30, 2026. SHUSA Webster Combined Total assets $ 165 $ 86 $ 251 Loans 84 58 142 Deposits 80 70 150 Leadership SHUSA and Webster Combined ($B)1 Webster and Santander US Branch Footprint Tim Ryan Non-Executive Chairman of Santander US Christiana Riley CEO and President of Santander US John Ciulla CEO SBNA, currently Chairman and CEO of Webster Reporting to SHUSA board Luis Massiani COO, SHUSA and SBNA Reporting to J. Ciulla and C. Riley Webster branches Santander US branches NY MA NJ RI CT NHVT PA D E ME MD FL7 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities8 Re ve nu e1 Strong NII and stable NIM performance driven by funding optimization associated with Openbank expansion and higher investment securities yields Virtually all Auto loan and lease originations now funded with deposits, reducing reliance on wholesale funding Continued growth in CIB and capital-light fee businesses G& A Ex pe ns es 2 Cost management remains disciplined, supported by continued execution of transformation initiatives Lower expenses in technology, occupancy and equipment, and loan servicing QoQ and YoY, demonstrate disciplined execution of transformation and cost-efficiency initiatives Cr ed it Lo ss Ex pe ns e Reduced credit loss expense driven by lower charge-offs offsetting normalized delinquencies; quarter benefited from Auto seasonality Resilient consumer behavior and strong recoveries continue to support favorable credit performance despite normalizing delinquencies Ne t In co m e Double-digit net income growth driven by CIB performance, funding optimization, cost discipline, and credit strength offset by sunset of electric vehicle tax credits Continued earnings momentum with 8 consecutive quarters of YoY net income growth Quarterly Profitability 1 | Net of lease expense. Please refer to slide 27 and 28 for a detailed reconciliation of all non-GAAP measures. 2 | General, Administrative & Other (“G&A”) excludes lease expense. Please refer to slide 27 and 28 for a detailed reconciliation of non-GAAP measures. Performance Highlights +5% $2,012 $2,057 $2,071 $2,012 $2,111 2Q25 3Q25 4Q25 1Q26 2Q26 $1,104 $1,143 $1,204 $1,098 $1,105 2Q25 3Q25 4Q25 1Q26 2Q26 $373 $368 $489 $431 $247 2Q25 3Q25 4Q25 1Q26 2Q26 $498 $456 $326 $414 $585 2Q25 3Q25 4Q25 1Q26 2Q26 +0% -34% +17%9 2,096 1,994 1,990 270 163 154 458 310 293 358 423 445 489 441 443 590 430 421 33 43 46 589 481 451 $3,182 $1,701 $2,890 $1,395 $2,882 $1,361 Int. Income Int. Expense Int. Income Int. Expense Int. Income Int. Expense Q2 2025 Q1 2026 Q2 2026 The YoY and QoQ increases in NII and stable NIM were primarily driven by: Continued funding cost optimization supported by Openbank expansion Higher investment securities yields, reflecting balance sheet repositioning and higher rate environment Partially offset by lower loan and securities financing income as volumes and rates moderated Stable NIM reflects continued discipline in asset-liability management despite lower earning asset balances NII Securities FF1 sold & repos Interest-earning deposits Loans Borrowings2 Trading liabilities FF1 purchased & repos IB3 deposits SHUSA NII ($M) NII & NIM Drivers Net Interest Income & Net Interest Margin 1 | Federal funds. 2 | Includes FHLB advances. 3 | Interest-bearing. $1,481 $1,495 $1,521 +3% Q2 2025 Q1 2026 Q2 2026 NIM 3.9% 4.0% 4.0% +2%10 127 124 110 79 34 69 133 171 251 170 162 139 22 26 22 $531 $517 $591 Q2 2025 Q1 2026 Q2 2026 Securities gains, net Miscellaneous income, net Capital market revenue Net lease income1 Consumer and commercial fees Non-Interest Income Non-interest income increased QoQ driven by: Higher capital market revenue, reflecting continued growth in CIB business Partially offset by a decrease in consumer loan fees and losses on loan sales Non-interest income increased YoY driven by: Strong capital market revenue driven by continued CIB expansion Continued fee income growth driven by Auto servicing for others, Multi-family servicing, and Wealth Management fees Partially offset by lower consumer fee income, reduced net lease income due to lower active lease units, and losses on loan sales 1 | Includes lease income net of lease expense. Please refer to slide 27 and 28 for a detailed reconciliation of all non-GAAP measures. Non-Interest Income ($M) Non-Interest Income Drivers +11% +14%11 509 544 542 172 162 161 213 216 190 86 84 75 124 92 137 $1,104 $1,098 $1,105 Q2 2025 Q1 2026 Q2 2026 Other expenses Loan Technology2 Occupancy and equipment Compensation and benefits General, Administrative, & Other Expenses1 G&A and other expenses (excluding lease expense) flat QoQ and YoY driven by: Lower expenses in technology, occupancy and equipment, and loan servicing QoQ and YoY, demonstrate disciplined execution of transformation and cost-efficiency initiatives Sequential and YoY savings offset by increased accruals in other expense Expense Drivers 1 | Excludes lease expense. Please refer to slide 27 and 28 for a detailed reconciliation of all non-GAAP measures. 2 | Includes outside services and marketing expense. +0% +1% Expenses ($M)12 $373 $368 $489 $432 $247 2Q25 3Q25 4Q25 1Q26 2Q26 $451 $579 $636 $521 $396 2Q25 3Q25 4Q25 1Q26 2Q26 Credit loss expense improved QoQ and YoY underpinned by: Auto seasonality driving lower NCOs QoQ NCOs remained below prior-year levels, with resilient consumer performance and strong recoveries, offsetting the impact of normalized delinquencies ACL reserves releases driven by Auto seasonality and lower exposure in personal unsecured following Q4 loan sales Credit Loss Expense Expense Drivers Q2 2026 Q1 2026 Q2 2025 ALLL2, beginning of period ("BOP") $ 5,954 $ 6,000 $ 6,434 Day 1 allowance on purchased seasoned loans at acquisition3 - 38 - Credit loss expense4 260 437 374 Net charge-offs (396) (521) (451) ALLL, end of period ("EOP") 5,818 5,954 6,357 Reserve for unfunded lending commitments, BOP 47 53 55 Credit loss (benefit) unfunded lending commitments, EOP (13) (5) (1) Reserve for unfunded lending commitments, EOP 34 48 54 Total ACL, EOP 5,852 6,002 6,411 1 | Totals may not agree to the Company’s Form 10-Q for the period ended June 30, 2026, due to rounding. 2 | Allowance for loan and lease losses (“ALLL”). 3 | Purchased loans comprise purchased seasoned loans and purchased credit-deteriorated loans. 4 | Includes credit loss (benefit) on unfunded lending commitments. -12% -34% Net Charge-offs ($M) Credit Loss / (Benefit) Expense4 ($M) Total Allowance for Credit Losses1 ($M)13 85 84 83 83 83 36 38 39 40 40 20 20 21 23 24 21 16 14 15 11 10 10 8 7 7 $172 $168 $165 $168 $165 2Q25 3Q25 4Q25 1Q26 2Q26 43 43 43 44 44 19 18 18 18 17 16 16 16 16 16 10 10 8 7 7 6 6 6 6 61 2 1 1 1 2 1 1 $97 $96 $93 $92 $91 2Q25 3Q25 4Q25 1Q26 2Q26 5.3% 13.3% 12.1% 9.3% 0% 5% 10% 15% Total commercial Auto Total consumer Total loans Loans and leases down 1.1% QoQ and 6.2% YoY, driven by lower auto lease originations, off-balance sheet securitizations, and portfolio sales Total loan yields were flat QoQ and YoY, reflecting a stable short-term interest rate environment Balance Sheet Trends | Assets LHFS1 Other Residential Leases C&I2 and Other Commercial CRE3 and Multifamily Auto Leases Other Assets4 Cash Investments Gross LHFI5 1 | Loans held for sale. 2 | Commercial and industrial. 3 | Commercial real estate. 4 | Other assets includes securities purchased under repurchase agreements, LHFS, equipment, goodwill, intangible assets, bank-owned life insurance (“BOLI”), restricted cash, and ALLL. 5 | Loans held for investment. Yield on Loans ($B)Assets ($B) Loans & Leases ($B) Q2 2026 Recap14 66 63 65 67 67 32 32 31 34 34 42 41 37 35 33 18 19 18 18 18 14 13 14 14 13 $172 $168 $165 $168 $165 2Q25 3Q25 4Q25 1Q26 2Q26 Consumer 72% Commercial 17% CIB 2% Wealth Management 7% Other3 2% 2.7% 2.8% 2.6% 2.5% 2.5% 2.3% 2.1% 2.2% 2.1% 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 27 26 27 27 26 9 9 11 15 15 14 13 14 14 13 18 16 15 13 14 12 12 12 12 12 $80 $76 $79 $81 $80 2Q25 3Q25 4Q25 1Q26 2Q26 IBD4 Deposits Balance Sheet Trends | Liabilities NIBD1 Deposits Equity Other Liabilities2 Borrowed Funds IB Deposits Savings NIBD Deposits CDs Money Market 1 | Non-interest-bearing demand. 2 | Other liabilities includes accrued expenses, advance payments, securities sold under repurchase agreements and trading liabilities. 3 | Other consists of deposits related to certain of SHUSA’s immaterial subsidiaries and corporate treasury deposits. 4 | Interest-bearing demand. Liabilities & Equity ($B) Deposits ($B) Cost of Deposits ($B) Deposits by Business15 Cash at Federal Reserve Capacity at FHLB Discount window Liquidity from unencumbered securities (5% haircut) Liquidity from released govt. deposit collateral3 40.0 26.9 Liquidity & Wholesale Funding Cash and Immediately Available Sources of Liquidity Uninsured Deposits Q1 2026 Q2 2026 SBNA Insured Deposits 65% 66% 2Q26 Ratio: 149% 12.8 9.2 2.0 4.8 11.2 SBNA Contingent Liquidity ($B)Borrowed Funds Profile | Balance ($B) 1 | Includes subordinated notes; includes BSI unsecured debt and $850M of notes payable to Santander. 2 | The warehouse lines and repurchase facilities are fully collateralized by a designated portion of SHUSA’s retail installment contracts (“RICs”), leased. Includes $2B warehouse line with Santander’s NY branch. 3 | Includes high quality liquid assets that are encumbered as collateral for uninsured government deposits. % Variance Q2 2026 Q1 2026 Q2 2025 QoQ YoY SHUSA Unsecured Debt1 $ 14.2 $ 13.2 $ 14.2 8% - FHLB 1.1 0.5 2.5 120% (56%) Credit-Linked Notes ("CLNs") 1.3 1.1 0.9 18% 44% Third-Party Secured Funding2 0.4 1.9 3.8 (79%) (89%) Amortizing Notes 0.7 1.0 1.8 (20%) (56%) Securitizations 15.0 17.7 18.9 (15%) (21%) Total SHUSA Funding 32.7 35.4 42.1 (7%) (22%) Preferred Equity Issuance to Santander $ 2.0 $ 2.0 $ 2.0 - -16 $0.50 6.57% $1.00 6.50% $1.00 6.17% $0.50 7.66% $1.00 9.38% $0.85 SOFR2 +57bps $0.40 SOFR +161bps $1.00 5.35% $0.75 5.74% $0.50 7.18% $0.50 8.41% $0.95 3.24% $1.05 4.40% $1.00 2.49% $0.85 5.47% $1.00 5.04% $0.50 2.88% $0.75 5.22% $0.75 6.34% $0.75 5.70% $0.50 8.17% $1.80 $1.05 $1.00 $2.75 $3.00 $1.75 $0.50 $0.75 $0.75 $2.00 2026 2027 2028 2029 2030 2031 2032 2035 2037 Perpetual Public issuance Private placement Internal TLAC Debt & TLAC 1 | SHUSA must hold the higher of 18% of its risk-weighted assets (“RWAs”) or 9% of its total consolidated assets in the form of TLAC, of which 6% of its RWAs or 3.5% of total consolidated assets must consist of LTD. In addition, SHUSA must maintain a TLAC buffer composed solely of CET1 capital and will be subject to restrictions on capital distributions and discretionary bonus payments based on the size of the TLAC buffer it maintains. 2 | Secured Overnight Financing Rate. SHUSA is SEC-registered and issues under the ticker symbol “SANUSA”, with ratings for SHUSA of A-(Fitch)/Baa2(Moody’s)/BBB+(S&P) SHUSA meets the Federal Reserve’s TLAC and long-term debt (“LTD”) requirements1, with 27.5% TLAC, 10.9% eligible LTD and a CET1 ratio of 13.7% In June 2026, SHUSA issued $2.5B of senior unsecured notes across a 4nc3yr structure ($1B) at 5.04%, 6nc5yr structure ($750M) at 5.22%, and a 11nc10yr structure ($750M) at 5.70% SHUSA Debt Maturity Schedule ($B)17 12.8% 13.2% 12.6% 13.0% 13.7% 2Q25 3Q25 4Q25 1Q26 2Q26 On June 27, 2025, the Federal Reserve informed SHUSA of its updated stress capital buffer (“SCB”) requirement, which became effective on October 1, 2025. SHUSA’s updated SCB is 3.4% of its CET1, resulting in an overall CET1 capital requirement of 7.9%. Capital Ratios 1 | Under capital rules, SHUSA is not required to include negative accumulated other comprehensive income (“AOCI”) in regulatory capital, but as a subsidiary of a global systemically important bank we manage AOCI closely as it impacts regulatory capital at the global consolidated level. 2 | Estimate considering the full liquidation value of available-for-sale (“AFS”) and held-to-maturity (“HTM”) securities, net of statutory tax (26%). CET1 AFS & HTM Marked2 11.37% 11.85% 11.21% 11.52% 12.29% Tier 1 Risk-Based Capital Ratio1 Total Risk-Based Capital Ratio1 9.4% 9.7% 9.2% 9.4% 9.5% 2Q25 3Q25 4Q25 1Q26 2Q26 14.7% 15.0% 14.4% 14.9% 15.6% 2Q25 3Q25 4Q25 1Q26 2Q26 CET11 Tier 1 Leverage Ratio1 16.8% 17.1% 16.5% 17.0% 17.8% 2Q25 3Q25 4Q25 1Q26 2Q2618 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities19 Multifamily 55% Multifamily Construction 24% Office 8% Retail 4% Industrial 4% Other 5% 1 | Multifamily Construction is reported within “CRE” in the Company’s Form 10-Q for the period ended June 30, 2026. Total Multifamily = $9.37B and total other CRE = $7.70B. 2 | Excludes commercial equipment vehicle financing. 3 | Does not include the acquired 20% interest in a structured limited liability company (the "Structured LLC") for approximately $1.1B. The Structured LLC was established by the FDIC to hold and service a $9B portfolio primarily consisting of New York-based rent-controlled and rent-stabilized multifamily loans retained by the FDIC following a recent bank failure. SBNA classifies its 20% interest in the Structured LLC as an AFS debt security. Business Activities Overview In addition to branch-based deposits, CBB attracts customers nationwide through its digital banking platform, Openbank Market-leading full-spectrum auto lender Financing and banking services to corporations with institutional broker dealer, SanCap Equity research reports Investment banking BSI leads in international private banking Servicing LatAm UHNW and HNW individuals Four investment platforms Edge Act corporation Present in Miami, New York, Houston & San Diego Sales & trading US fixed-income market making Structuring and advisory services CRE: Consists primarily of multifamily loans, and robust servicing fee income from FDIC joint venture1,2,3 C&I: Provides services to a range of commercial customers Consumer Commercial Corporate & Investment Banking Wealth Management Auto Relationships Preferred Lending Pass-Through Strategic20 16% 17% 11% 9% 9% 7% 7% 6% 6% 7% 6% 53% 51% 51% 41% 38% 38% 35% 34% 33% 36% 37% 17% 17% 18% 16% 16% 16% 17% 18% 19% 19% 19% 14% 15% 21% 34% 38% 39% 41% 42% 42% 38% 38% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q2'26 >=640 600-639 <600 No FICO $44,623 $44,113 $46,371 $50,182 $50,037 $8,293 $8,043 $7,911 $8,048 $7,782 $52,916 $52,156 $54,282 $58,230 $57,819 2Q25 3Q25 4Q25 1Q26 2Q26 IBD deposits NIBD deposits Income Statement Data Consumer Activities | Auto & CBB 1 | Prior period data has been recast. 2 | Auto loans excludes commercial fleet and LHFS. 3 | Ending balance loans and leases held-for-investment (“HFI”). Q2 2026 Q2 20251 Total Consumer Activities YoY($M) Auto CBB Auto CBB Interest income $ 1,574 $ 748 $ 1,607 $ 748 (1.4%) Interest expense 606 392 683 376 (5.8%) Fees and other income 20 74 70 73 (34.3%) Lease income 285 - 419 - (32.0%) Credit loss expense/(benefit) 278 3 342 27 (24.1%) Lease expense 216 - 340 - (36.5%) General, administrative and other expenses 311 366 338 381 (5.8%) Income/(loss) before income taxes 468 61 393 37 22.7% ($B) 2026 2025 YoY Total assets as of 6/30 $ 56 $ 8 $ 58 $ 9 (4.6%) Q2 2026 Q2 20251 YoY Residential mortgages $ 3.9 $ 4.2 (7.1%) Home equity loans and lines of credit 1.7 1.9 (10.5%) Auto loans 43.4 42.9 1.2% Personal unsecured loans 0.5 1.6 (68.8%) Total consumer loans3 49.5 50.6 (2.2%) Total consumer deposits $ 57.8 $ 52.9 9.3% +9.3% Loans & Deposits ($B) Auto Distribution by FICO® Segment2 Total Consumer Deposits ($B)21 $- $1 $2 $3 $4 $5 In One Year or Less One to Five Years Five+ Years Fixed Rate CRE Fixed Rate Multifamily Variable Rate CRE Variable Rate Multifamily NY 27% NJ 12% FL 9%TX 9% Other 43% Multifamily 55% Multifamily Construction 24% Office 8% Retail 4% Industrial 4% Other 5% Income Statement Data Commercial Activities | CRE, Multifamily, and C&I Loans & Deposits ($B) CRE Portfolio and Geographic Diversification Portfolio by Maturity and Interest Rate Type ($B) 1 | Prior period data has been recast. 2 | Ending balance loans and leases HFI. Q2 2026 Q2 20251 YoY CRE loans $ 7.7 $ 9.0 (14.4%) C&I loans 7.6 8.0 (5.0%) Multifamily loans 9.4 9.5 (1.1%) Other commercial 8.5 7.9 7.6% Total commercial loans2 33.2 34.4 (3.5%) Total commercial deposits $ 13.3 $ 13.7 (2.9%) Q2 2026 Q2 20251 Total Commercial Activities YoY($M) C&I CRE C&I CRE Interest income $ 186 $ 339 $ 220 $ 366 (10.4%) Interest expense 117 217 136 241 (11.4%) Fees and other income 12 33 18 13 45.2% Credit loss expense/(benefit) (14) (19) (1) 6 NM General, administrative and other expenses 44 45 47 46 (4.3%) Income/(loss) before income taxes 51 129 56 86 28.2% ($B) 2026 2025 YoY Total assets as of 6/30 $ 4 $ 22 $ 4 $ 23 (5.5%)22 CIB Income Statement Data CIB & Wealth Management Wealth Income Statement Data 1 | Prior period data has been recast. ($M) Q2 2026 Q2 20251 YoY Interest income $ 616 $ 767 (19.7%) Interest expense 529 692 (23.6%) Fees and other income 274 161 70.2% Credit loss expense/(benefit) 1 - NM General, administrative and other expenses 242 233 3.9% Income/(loss) before income taxes 118 3 3833.3% ($B) 2026 2025 YoY Total assets as of 6/30 $ 36 $ 32 11.1% Total deposits 1.6 3.8 (57.8%) ($M) Q2 2026 Q2 20251 YoY Interest income $ 76 $ 86 (11.6%) Interest expense 37 35 5.7% Fees and other income 95 97 (2.1%) General, administrative and other expenses 77 70 10.0% Income/(loss) before income taxes 57 78 (28.2%) Asset and wealth management fees 89 86 3.5% ($B) 2026 2025 YoY Total assets as of 6/30 $ 9 $ 8 9.0% Total deposits 5.3 5.6 (5.1%)23 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities24 0% 5% 10% 15% Residential Mortgage Home Equity Auto Loans Personal Unsecured Other Consumer ² 0.0% 0.5% 1.0% 1.5% 2.0% CRE C&I Multifamily Other Commercial ³ Loan Delinquency by Portfolio Class 1 | Based on a percentage of financing receivables for their respective loan businesses. 2 | Other consumer ($14.0M in Q2 2026) primarily includes recreational vehicle and marine loans. 3 | Other commercial ($8.5B in Q2 2026) includes commercial equipment vehicle financing leveraged leases and loans. 0% 1% 2% 3% CRE C&I Multifamily Other Commercial ³ 0% 1% 2% 3% 4% 5% Residential Mortgage Home Equity Auto Loans Personal Unsecured Other Consumer ² Consumer | 30-89 Days Past Due1 Commercial | 30-89 Days Past Due1 Commercial | 90+ Days Past Due1Consumer | 90+ Days Past Due125 Recoveries3Net charge-offs1 Charge-offs1,2 Consumer NCOs remain marginally below prior-year levels, supported by continued consumer resilience and strong recoveries, despite higher delinquencies. Consumer NCOs decreased quarter-over-quarter, reflecting expected seasonality. Charge-offs and Recoveries by Portfolio Segment 1 | Charge-offs and NCOs are based on a percentage of their respective average loan balances. 2 | Includes current period gross write-offs for Q2 2026 by portfolio segment. 3 | Recoveries are based on a percentage of gross charge-offs. 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% Commercial Consumer 0% 50% 100% 150% Commercial Consumer 0.0% 0.3% 0.6% 0.9% 1.2% 1.5% 1.8% Commercial Consumer Q2 2026 Recap26 Santander1 A1/Baa1 SHUSA Baa2 SBNA2 Baa1 Santander1 A+/A- SHUSA BBB+ SBNA A- Stable outlook (May 17, 2026) In May 2026, Fitch upgraded SBNA’s senior unsecured debt ratings from ‘A-’ to ‘A’, and affirmed SHUSA’s senior unsecured debt ratings at ‘A-’ S&P and Moody’s affirmed SHUSA’s senior unsecured debt ratings in July 2025 and February 2026, respectively In October 2025, Moody's upgraded Santander’s1 senior preferred debt rating from ‘A2’ to ‘A1’ and in April 2026 Moody’s affirmed Santander’s ratings after taking CMDI related rating actions on EU banks Outlook remains “stable” for all ratings and entities SR. DEBT RATINGS BY SANTANDER ENTITY Santander1 A+/A SHUSA A- SBNA A Stable outlook (February 6, 2026) Stable outlook (July 23, 2025) Rating Agencies 1 | Senior preferred debt / senior non-preferred debt for Santander. 2 | SBNA long-term issuer rating.27 SHUSA | Quarterly Trended Statement Of Operations ($M) Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Interest income $ 2,882 $ 2,890 $ 2,985 $ 3,133 $ 3,182 Interest expense (1,361) (1,395) (1,490) (1,614) (1,701) Net interest income 1,521 1,495 1,495 1,519 1,481 Fees & other income 784 778 818 821 849 Other non-interest income 22 26 40 53 22 Net revenue 2,327 2,299 2,353 2,393 2,352 General, administrative, and other expenses (1,321) (1,385) (1,487) (1,479) (1,444) Credit losses expense/(benefit) (247) (431) (489) (368) (373) Income before taxes 759 483 377 546 535 Income tax (expense)/benefit (174) (69) (52) (90) (37) Net income / (loss) 585 414 325 456 498 NIM 4.0% 4.0% 3.9% 4.0% 3.9%28 SHUSA | Non-GAAP Reconciliations – Income Statement Metrics 1 | Represents US GAAP measure. 2 | Represents non-US GAAP measure. 3 | Total may not foot due to rounding. ($M) Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 SHUSA Revenue Net interest income1 $ 1,521 $ 1,495 $ 1,495 $ 1,519 $ 1,481 Total non-interest income1 806 804 858 874 871 Lease expense1 (216) (287) (282) (336) (340) Total revenue2 2,111 2,012 2,071 2,057 2,012 SHUSA Non-Interest Income Total non-interest income1 $ 806 $ 804 $ 858 $ 874 $ 871 Lease expense1 (216) (287) (282) (336) (340) Non-interest income2,3 591 517 576 538 531 Net Lease Income Lease income1 $ 285 $ 321 $ 351 $ 395 $ 419 Lease expense1 (216) (287) (282) (336) (340) Net lease income2 69 34 69 59 79 SHUSA G&A and Other Total general, administrative & other expenses1 $ 1,321 $ 1,385 $ 1,487 $ 1,479 $ 1,444 Lease expense1 (216) (287) (282) (336) (340) General, administrative & other (excl. lease)2 1,105 1,098 1,205 1,143 1,10429 SHUSA | Non-GAAP Reconciliations – Capital Metrics ($M) Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 CET1 to risk-weighted assets CET1 capital $ 14,160 $ 13,862 $ 13,500 $ 14,584 $ 14,173 Risk-weighted assets 103,532 106,804 107,408 110,787 110,393 Ratio 13.7% 13.0% 12.6% 13.2% 12.8% Tier 1 leverage Tier 1 capital $ 16,160 $ 15,862 $ 15,500 $ 16,584 $ 16,173 Avg total assets, leverage capital purposes 169,330 169,594 168,713 170,254 172,553 Ratio 9.5% 9.4% 9.2% 9.7% 9.4% Tier 1 risk-based Tier 1 capital $ 16,160 $ 15,862 $ 15,500 $ 16,584 $ 16,173 Risk-weighted assets 103,532 106,804 107,408 110,787 110,393 Ratio 15.6% 14.9% 14.4% 15.0% 14.7% Total risk-based Risk-based capital $ 18,390 $ 18,133 $ 17,776 $ 18,910 $ 18,501 Risk-weighted assets 103,532 106,804 107,408 110,787 110,393 Ratio 17.8% 17.0% 16.5% 17.1% 16.8%Thank You. Our purpose is to help people and businesses prosper. Our culture is based on believing that everything we do should be:
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1 June 12, 2026 SANTANDER HOLDINGS USA, INC. First Quarter 2026 Fixed Income Investor Presentation2 This presentation of Santander Holdings USA, Inc. (“SHUSA”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans and future performance of SHUSA. Words such as “may,” “could,” “should,” “will,” “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “goal” or similar expressions are intended to indicate forward-looking statements. Although SHUSA believes that the expectations reflected in these forward-looking statements are reasonable as of the date on which the statements are made, factors such as the risks and uncertainties described in SHUSA’s filings with the Securities and Exchange Commission from time to time may cause SHUSA’s performance to differ materially from that suggested by the forward-looking statements. If one or more of the factors affecting SHUSA’s forward-looking statements renders those statements incorrect, SHUSA’s actual results, performance or achievements could differ materially from those expressed in or implied by the forward-looking statements. Readers should not consider these factors to be a complete set of all potential risks or uncertainties as new factors emerge from time to time. In this presentation, we may sometimes refer to certain non-GAAP figures or financial ratios to help illustrate certain concepts. These ratios, each of which is defined in this document, if utilized, may include Pre- Tax Pre- Provision Income, the Tangible Common Equity to Tangible Assets Ratio, and the Texas Ratio. This information supplements our results as reported in accordance with generally accepted accounting principles (“GAAP”) and should not be viewed in isolation from, or as a substitute for, our GAAP results. We believe that this additional information and the reconciliations we provide may be useful to investors, analysts, regulators and others as they evaluate the impact of these items on our results for the periods presented due to the extent to which the items are indicative of our ongoing operations. Where applicable, we provide GAAP reconciliations for such additional information. SHUSA’s subsidiaries include Santander Consumer USA Inc. (“SC”), Santander Bank, N.A. (“SBNA”), Banco Santander International (“BSI”), Santander Securities LLC (“SSLLC”), Santander US Capital Markets LLC (“SanCap”), as well as several other subsidiaries. The information in this presentation is intended only to assist investors and does not constitute legal, tax, accounting, financial or investment advice or an offer to invest. In making this presentation available, SHUSA gives no advice and makes no recommendation to buy, sell, or otherwise deal in shares or other securities of Banco Santander, S.A. (“Santander”), SHUSA, SBNA, SC or any other securities or investments. It is not our intention to state, indicate, or imply in any manner that current or past results are indicative of future results or expectations. As with all investments, there are associated risks, and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal, and financial advisors and independently evaluate the risks, consequences, and suitability of that investment. No offering of securities shall be made in the United States except pursuant to registration under the Securities Act of 1933, as amended, or an exemption therefrom. Important Information3 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities4 SHUSA 1 | Asset-backed securitizations. 2 | Certificates of deposit. 3 | Federal Home Loan Bank borrowings. 4 | Represents assets and assets under management, which includes customer deposits, securities, loans and letters of credits. 5 | Includes assets categorized as “other”. SHUSA SC Fund auto loans & leases with warehouse borrowings, ABS1, unsecured SHUSA debt SBNA Fund consumer & commercial loans with deposits, brokered CDs2 & sweeps, FHLB3, ABS New auto originations transitioned to SBNA beginning March 2026 SanCap Fund capital markets with repos (FICC central clearing & bilateral/triparty), SHUSA op lines BSI International wealth management business BANCO SANTANDER, S.A. Source of Strength / Intragroup Funding Core Business Activities Q1 2026 Assets Consumer Market-leading full spectrum auto lender and Consumer & Business Banking (“CBB”) $63B Commercial Leading multifamily bank lender and proven servicer $26B Corporate & Investment Banking (“CIB”) Global hub for capital markets and investment banking $35B Wealth Management Leading brand in LatAm for ultra-high-net-worth (“UHNW”) and high-net-worth (“HNW”) clients $62B4 SHUSA Total $168B55 SHUSA Q1 2026 Results at a Glance Improved Financial Metrics Normalized Credit Strong Capital / Liquidity $1.5B NET INTEREST INCOME (“NII”) Up 0.1% QoQ Up 2.6% YoY 12.3% 30-89 DAYS AUTO1 DELINQUENCY Down 192bps QoQ Up 136bps YoY 13.0% COMMON EQUITY TIER 1 (“CET1”) Up 41bps QoQ Up 50bps YoY $414M NET INCOME Up 27.4% QoQ Up 13.2% YoY 0.6% NCO RATE2 Down 11bps QoQ Flat YoY 25.2% TOTAL LOSS ABSORBING CAPACITY (“TLAC”) RATIO Up 50bps QoQ Down 80bps YoY 4.0% NET INTEREST MARGIN (“NIM”) Flat QoQ Flat YoY 7.1% ALLOWANCE RATIO3 Down 9bps QoQ Down 26bps YoY $81.2B SHUSA DEPOSITS Up 2.8% QoQ Up 2.3% YoY (Growth in customer deposits reduces reliance on brokered products) 1 | Consumer auto only. 2 | Total quarterly net charge-offs (“NCOs”) / average balance of financing receivables (Consumer + Commercial). 3 | Allowance for credit losses (“ACL”) to total loans outstanding.6 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities7 Re ve nu e1 Stable NII performance reflecting funding efficiencies and benefits associated with continued expansion of Openbank deposits offset by lower loan and lease balances During the quarter we began funding virtually all Auto loans and lease originations with deposits Fee income continues to grow, driven by CIB and Wealth segments G& A Ex pe ns es 2 Focused cost discipline and continued execution of transformation initiatives QoQ expenses included non-recurring technology and occupancy-related changes, while YoY trends benefited from lower deposit insurance premiums Cr ed it Lo ss Ex pe ns e Credit loss expense remains stable with lower charge-offs offsetting the impact of normalizing delinquencies; QoQ trend driven by Auto seasonality Prudent underwriting and portfolio management continues to support stable loss trends across evolving economic conditions and seasonal portfolio dynamics Ne t In co m e Double-digit net income growth driven by record quarterly results in CIB, cost discipline, fee income, and credit strength offset by normalization of effective tax rate due to sunset of EV tax credits Continued positive earnings momentum with 7 consecutive quarters of YoY growth Quarterly Profitability 1 | Net of lease expense. Please refer to slide 27 for a detailed reconciliation of all non-GAAP measures. 2 | General, Administrative & Other (“G&A”) excludes lease expense. Please refer to slide 27 for a detailed reconciliation of non-GAAP measures. SHUSA NII ($M) $1,981 $2,012 $2,057 $2,071 $2,012 1Q25 2Q25 3Q25 4Q25 1Q26 $1,172 $1,104 $1,143 $1,204 $1,098 1Q25 2Q25 3Q25 4Q25 1Q26 $426 $373 $368 $489 $431 1Q25 2Q25 3Q25 4Q25 1Q26 $366 $498 $456 $326 $414 1Q25 2Q25 3Q25 4Q25 1Q26 +2% +13% -6% +1%8 Stable YoY and QoQ performance of NII and NIM sustained by: Openbank deposit growth enabling reduction of higher-cost liabilities and driving funding optimization Higher returns from investment securities Offset by lower interest and fees on federal funds sold and securities purchased under resale agreements due to lower volumes and rates NII Securities FF1 sold & repos Interest-earning deposits Loans Borrowings2 Trading liabilities FF1 purchased & repos IB3 Deposits SHUSA NII ($M) NII & NIM Drivers Net Interest Income & Net Interest Margin 1 | Federal funds. 2 | Includes FHLB advances. 3 | Interest-bearing. $1,458 $1,495 $1,495 +3% 2,120 2,048 1,994 245 175 163 441 366 310 331 396 423 489 442 441 562 491 430 40 41 43 588 516 481 $3,137 $1,679 $2,985 $1,490 $2,890 $1,395 Int. Income Int. Expense Int. Income Int. Expense Int. Income Int. Expense Q1 2025 Q4 2025 Q1 2026Q1 2025 Q4 2025 Q1 2026 NIM 3.9% 4.0% 4.0% +0%9 108 123 124 111 69 34 96 109 171 168 235 162 40 40 26 $523 $576 $517 Q1 2025 Q4 2025 Q1 2026 Securities gains, net Miscellaneous income, net Capital market revenue Net lease income1 Consumer and commercial fees Non-Interest Income Non-interest income decreased QoQ driven by: Prior quarter miscellaneous income reflects a fair value adjustment on our interest in the U.K. Limited Partnership2 Offset by increased capital market revenue driven by CIB business record quarter Non-interest income stable YoY driven by: Continued growth in capital-light fee income driven by Auto servicing for others, Multi- family servicing, and Wealth Management fees Offset by lower net lease income due to lower active lease units 1 | Includes lease income net of lease expense. Please refer to slide 27 for a detailed reconciliation of all non-GAAP measures. 2 | For additional information regarding the U.K. Limited Partnership, refer to Note 11 "Fair Value" in the Company's Form 10-Q for the quarterly period ended March 31, 2026. Non-Interest Income ($M) Non-Interest Income Drivers -1% -10%10 Other expense Loan Technology2 Occupancy and equipment Compensation and benefits General, Administrative, & Other Expenses1 G&A and other expenses (excluding lease expense) down QoQ and YoY driven by: Disciplined execution of transformation and cost-efficiency initiatives QoQ and YoY QoQ impacted by non-recurring charges related to technology and occupancy and equipment Other expense decreased due to lower deposit insurance premiums YoY Expenses ($M) Expense Drivers 1 | Excludes lease expense. Please refer to slide 27 for a detailed reconciliation of all non-GAAP measures. 2 | Includes outside services and marketing expense. -6% 564 531 544 185 201 162 204 247 216 76 92 84 143 134 92 $1,172 $1,205 $1,098 Q1 2025 Q4 2025 Q1 2026 -9%11 Strong credit performance QoQ and YoY driven by: Lower NCOs QoQ reflecting Auto seasonality NCOs below prior-year levels despite normalizing delinquencies, reflecting continued consumer resilience and recoveries which remain at historically elevated levels Release in ACL reserves due to seasonality in Auto and lower exposure in personal unsecured due to Q4 loan sales Credit Loss Expense Total Allowance for Credit Losses ($M) Expense Drivers Q1 2026 Q4 2025 Q1 2025 ALLL1, beginning of period ("BOP") $ 6,000 $ 6,148 $ 6,562 Day 1 allowance on purchased seasoned loans at acquisition2 38 - - Credit loss expense3 437 487 419 Net charge-offs (521) (636) (547) ALLL, end of period ("EOP") 5,954 5,999 6,434 Reserve for unfunded lending commitments, BOP 53 51 48 Credit loss (benefit) unfunded lending commitments, EOP (5) 2 7 Reserve for unfunded lending commitments, EOP 48 53 55 Total ACL, EOP 6,002 6,052 6,489 1 | Allowance for loan and lease losses (“ALLL”). 2 | Purchased loans comprise purchased seasoned loans and purchased credit deteriorated loans. 3 | Includes credit loss (benefit) on unfunded lending commitments. -5% +1% $547 $451 $579 $636 $521 1Q25 2Q25 3Q25 4Q25 1Q26 $426 $373 $368 $489 $432 1Q25 2Q25 3Q25 4Q25 1Q26 Net Charge-offs ($M) Credit Loss / (Benefit) Expense2 ($M)12 87 85 84 83 83 33 36 38 39 40 20 20 20 21 23 21 21 16 14 15 11 10 10 8 7 $172 $172 $168 $165 $168 1Q25 2Q25 3Q25 4Q25 1Q26 Loans and leases down 1.1% QoQ and 8.0% YoY, driven by lower auto originations, off-balance sheet securitizations, and portfolio sales Total loan yields were flat QoQ and YoY, reflecting a stable short-term interest rate environment Balance Sheet Trends | Assets LHFS1 Other Residential Leases C&I2 and Other Commercial CRE3 and Multifamily Auto Leases Other Assets4 Cash Investments Gross Loans 1 | Loans held-for-sale. 2 | Commercial and industrial. 3 | Commercial real estate. 4 | Other assets includes securities purchased under repurchase agreements, LHFS, restricted cash, and ALLL. 5.1% 13.6% 12.3% 9.4% 0% 5% 10% 15% Total commercial Auto Total consumer Total loans Yield on Loans ($B)Assets ($B) Loans & Leases ($B) Q1 2026 Recap 45 43 43 43 44 19 19 18 18 18 16 16 16 16 16 11 10 10 8 7 6 6 6 6 61 1 2 1 1 2 2 1 1 $100 $97 $96 $93 $92 1Q25 2Q25 3Q25 4Q25 1Q2613 IBD4 Deposits Balance Sheet Trends | Liabilities NIBD1 Deposits Equity Other Liabilities2 Borrowed Funds IB Deposits Savings NIBD Deposits CDs Money Market 1 | Non-interest-bearing demand. 2 | Other liabilities include securities sold under repurchase agreements and trading liabilities. 3 | Other consists of deposits related to certain of SHUSA’s immaterial subsidiaries and corporate treasury deposits. 4 | Interest-bearing demand. 65 66 63 65 67 45 42 41 37 35 30 32 32 31 34 18 18 19 18 18 14 14 13 14 14 $172 $172 $168 $165 $168 1Q25 2Q25 3Q25 4Q25 1Q26 Liabilities & Equity ($B) Deposits ($B) Cost of Deposits ($B) Deposits by Business 26 27 26 27 27 7 9 9 11 15 14 14 13 14 14 20 18 16 15 13 12 12 12 12 12 $79 $80 $76 $79 $81 1Q25 2Q25 3Q25 4Q25 1Q26 Consumer 72% Commercial 16% CIB 3% Wealth Management 7% Other3 2% 2.6% 2.7% 2.8% 2.6% 2.5% 2.5% 2.3% 2.1% 2.2% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q2614 Cash at Federal Reserve Capacity at FHLB Discount window Liquidity from unencumbered securities (5% haircut) Liquidity from released govt. deposit collateral3 45.4 27.6 Liquidity & Wholesale Funding Cash and Immediately Available Sources of Liquidity Uninsured Deposits Q4 2025 Q1 2026 SBNA Insured Deposits 64% 65% 1Q26 Ratio: 164% 14.0 13.6 2.0 4.9 10.9 SBNA Contingent Liquidity ($B)Borrowed Funds Profile | Balance ($B) 1 | Includes subordinated notes; includes BSI unsecured debt and $850M of notes payable to Santander. 2 | The warehouse lines and repurchase facilities are fully collateralized by a designated portion of SHUSA’s retail installment contracts (“RICs”), leased. Includes $2B warehouse line with Santander’s NY branch. 3 | Includes high quality liquid assets that are encumbered as collateral for uninsured government deposits. % Variance Q1 2026 Q4 2025 Q1 2025 QoQ YoY SHUSA Unsecured Debt1 $ 13.2 $ 13.5 $ 15.5 (2%) (15%) FHLB 0.5 0.7 3.2 (29%) (84%) Credit-Linked Notes ("CLNs") 1.1 0.9 1.1 22% - Third-Party Secured Funding2 1.9 2.2 3.2 (14%) (41%) Amortizing Notes 1.0 1.2 1.6 (17%) (38%) Securitizations 17.7 18.6 20.4 (5%) (13%) Total SHUSA Funding 35.4 37.1 45.0 (5%) (21%) Preferred Equity Issuance to Santander $ 2.0 $ 2.0 $ 2.0 - -15 $0.50 6.57% $0.75 6.89% $1.00 6.50% $0.50 7.66% $1.00 9.38% $0.85 SOFR2 +57bps $0.50 6.12% $0.40 SOFR +161 $1.00 6.17% $0.75 5.74% $0.50 8.41% $0.95 3.24% $1.05 4.40% $1.00 2.49% $0.85 5.47% $1.00 5.35% $0.50 2.88% $0.50 7.18% $0.75 6.34% $0.50 8.17% $1.80 $2.30 $1.00 $2.75 $2.00 $1.75 $0.50 $0.75 $2.00 2026 2027 2028 2029 2030 2031 2032 2035 Perpetual Public issuance Private placement Internal TLAC Debt & TLAC 1 | SHUSA must hold the higher of 18% of its risk-weighted assets (“RWAs”) or 9% of its total consolidated assets in the form of TLAC, of which 6% of its RWAs or 3.5% of total consolidated assets must consist of LTD. In addition, SHUSA must maintain a TLAC buffer composed solely of CET1 capital and will be subject to restrictions on capital distributions and discretionary bonus payments based on the size of the TLAC buffer it maintains. 2 | Secured Overnight Financing Rate. SHUSA is SEC-registered and issues under the ticker symbol “SANUSA”, with ratings for SHUSA of A-(Fitch)/Baa2(Moody’s)/BBB+(S&P) SHUSA meets the Federal Reserve’s TLAC and long-term debt (“LTD”) requirements1, with 25.2% TLAC, 8.8% eligible LTD and a CET1 ratio of 13.0% SHUSA Debt Maturity Schedule ($B)16 Confidential On June 27, 2025, the Federal Reserve informed SHUSA of its updated stress capital buffer (“SCB”) requirement, which became effective on October 1, 2025. SHUSA’s updated SCB is 3.4% of its CET1, resulting in an overall CET1 capital requirement of 7.9%. Capital Ratios 1 | Under capital rules, SHUSA is not required to include negative accumulated other comprehensive income (“AOCI”) in regulatory capital, but as a subsidiary of a global systemically important bank (“GSIB”) we manage AOCI closely as it impacts regulatory capital at the global consolidated level. 2 | Estimate considering the full liquidation value of available-for-sale (“AFS”) and held-to-maturity (“HTM”) securities, net of statutory tax (26%). CET1 AFS & HTM Marked2 11.01% 11.37% 11.85% 12.5% 12.8% 13.2% 12.6% 13.0% 1Q25 2Q25 3Q25 4Q25 1Q26 11.21% 11.52% 14.3% 14.7% 15.0% 14.4% 14.9% 1Q25 2Q25 3Q25 4Q25 1Q26 16.4% 16.8% 17.1% 16.5% 17.0% 1Q25 2Q25 3Q25 4Q25 1Q26 9.2% 9.4% 9.7% 9.2% 9.4% 1Q25 2Q25 3Q25 4Q25 1Q26 CET11 Tier 1 Leverage Ratio1 Tier 1 Risk-Based Capital Ratio1 Total Risk-Based Capital Ratio117 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities18 1 | Multifamily Construction is reported within “CRE” in the Company’s Form 10-Q for the period ended March 31, 2026. Total Multifamily = $9.51B and total other CRE = $8.00B. 2 | Excludes commercial equipment vehicle financing. 3 | Does not include the acquired 20% interest in a structured limited liability company (the "Structured LLC") for approximately $1.1B. The Structured LLC was established by the FDIC to hold and service a $9B portfolio primarily consisting of New York-based rent-controlled and rent-stabilized multifamily loans retained by the FDIC following a recent bank failure. SBNA classifies its 20% interest in the Structured LLC as an AFS debt security. Business Activities Overview In addition to branch-based deposits, CBB attracts customers nationwide through its digital banking platform, Openbank Market-leading full-spectrum auto lender Financing and banking services to corporations with institutional broker dealer, SanCap Equity research reports Investment banking BSI leads in international private banking Servicing LatAm UHNW and HNW individuals Four investment platforms Edge Act corporation Present in Miami, New York, Houston & San Diego Sales & trading US fixed-income market making Structuring and advisory services CRE: Consists primarily of multifamily loans, and robust servicing fee income from FDIC joint venture1,2,3 C&I: Provides services to a range of commercial customers Consumer Commercial Corporate & Investment Banking Wealth Management Auto Relationships Preferred Lending Pass-Through Strategic Multifamily 54% Multifamily Construction 23% Office 9% Retail 5% Industrial 5% Other 4%19 Income Statement Data Consumer Activities | Auto & CBB 1 | Prior period data has been recast. 2 | Auto loans excludes commercial fleet and LHFS. 3 | Ending balance loans and leases held-for-investment (“HFI”). Q1 2026 Q1 20251 Total Consumer Activities YoY($M) Auto CBB Auto CBB Interest income $ 1,585 $ 722 $ 1,633 $ 717 (1.8%) Interest expense 618 379 682 359 (4.2%) Fees and other income 40 72 20 62 35.4% Lease income 321 - 465 - (31.1%) Credit loss expense/(benefit) 420 (1) 396 38 (3.5%) Lease expense 287 - 355 - (19.2%) General, administrative and other expenses 307 381 350 395 (7.7%) Income/(loss) before income taxes 314 35 335 (13) 8.4% ($B) 2026 2025 YoY Total assets as of 3/31 $ 55 $ 8 $ 60 $ 10 (8.7%) Q1 2026 Q1 20251 YoY Residential mortgages $ 4.0 $ 4.4 (9.1%) Home equity loans and lines of credit 1.7 2.0 (15.0%) Auto loans 43.5 44.6 (2.5%) Personal unsecured loans 0.5 1.7 (70.6)% Total consumer loans3 49.7 52.7 (5.7%) Total consumer deposits $ 58.2 $ 52.0 11.9% $43,496 $44,623 $44,113 $46,371 $50,182 $8,533 $8,293 $8,043 $7,911 $8,048 $52,029 $52,916 $52,156 $54,282 $58,230 1Q25 2Q25 3Q25 4Q25 1Q26 IBD deposits NIBD deposits +11.9% 16% 17% 11% 9% 9% 7% 7% 6% 6% 7% 6% 53% 51% 51% 41% 38% 38% 35% 34% 33% 36% 37% 17% 17% 18% 16% 16% 16% 17% 18% 19% 19% 19% 14% 15% 21% 34% 38% 39% 41% 42% 42% 38% 38% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q1'26 >=640 600-639 <600 No FICO Loans & Deposits ($B) Auto Distribution by FICO® Segment2 Total Consumer Deposits ($B)20 Income Statement Data Commercial Activities | CRE, Multifamily, and C&I Loans & Deposits ($B) CRE Portfolio and Geographic Diversification Portfolio by Maturity and Interest Rate Type ($B) 1 | Prior period data has been recast. 2 | Ending balance loans and leases HFI. Q1 2026 Q1 20251 YoY CRE loans $ 8.0 $ 8.9 (10.1%) C&I loans 7.7 8.1 (4.9%) Multifamily loans 9.5 9.8 (3.1%) Other commercial 8.4 7.6 10.5% Total commercial loans2 33.6 34.4 (2.3%) Total commercial deposits $ 13.4 $ 13.5 (0.7%) $- $2 $4 $6 In One Year or Less One to Five Years Five+ Years Fixed Rate CRE Fixed Rate Multifamily Variable Rate CRE Variable Rate Multifamily Multifamily 54% Multifamily Construction 23% Office 9% Retail 5% Industrial 5% Other 4% NY 28% NJ 12% FL 9%TX 9% Other 42% Q1 2026 Q1 20251 Total Commercial Activities YoY($M) C&I CRE C&I CRE Interest income $ 189 $ 332 $ 227 $ 353 (10.2%) Interest expense 114 216 138 237 (12.0%) Fees and other income 21 16 17 19 - Credit loss expense/(benefit) (6) 16 (6) 4 NM General, administrative and other expenses 46 47 49 48 (4.1%) Income/(loss) before income taxes 56 69 63 83 (14.4%) ($B) 2026 2025 YoY Total assets as of 3/31 $ 4 $ 22 $ 4 $ 23 (2.7%)21 CIB Income Statement Data CIB & Wealth Management Wealth Income Statement Data 1 | Prior period data has been recast. ($M) Q1 2026 Q1 20251 YoY Interest income $ 634 $ 713 (10.9%) Interest expense 532 661 (19.5%) Fees and other income 210 192 9.4% Credit loss expense/(benefit) 2 (5) NM General, administrative and other expenses 237 230 3.0% Income/(loss) before income taxes 73 19 284.2% ($B) 2026 2025 YoY Total assets as of 3/31 $ 35 $ 30 14.8% Total deposits 2 2 2.5% ($M) Q1 2026 Q1 20251 YoY Interest income $ 78 $ 87 (10.3%) Interest expense 38 37 5.4% Fees and other income 120 94 27.7% General, administrative and other expenses 82 75 9.3% Income/(loss) before income taxes 78 69 13.0% Asset and wealth management fees 110 85 29.4% ($B) 2026 2025 YoY Total assets as of 3/31 $ 9 $ 8 13.6% Total deposits 6 5 2.7%22 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities23 Loan Delinquency by Portfolio Class Consumer | 90+ Days Past Due1 Commercial | 90+ Days Past Due1 Consumer | 30-89 Days Past Due1 Commercial | 30-89 Days Past Due1 1 | Based on a percentage of financing receivables for their respective loan businesses. 2 | Other consumer ($15.6M in Q1 2026) primarily includes recreational vehicle and marine loans. 3 | Other commercial ($8.4B in Q1 2026) includes commercial equipment vehicle financing leveraged leases and loans. 0.0% 0.5% 1.0% 1.5% 2.0% CRE C&I Multifamily Other Commercial ³ 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% CRE C&I Multifamily Other Commercial ³ 0.0% 2.5% 5.0% 7.5% 10.0% 12.5% 15.0% Residential Mortgage Home Equity Auto Loans Personal Unsecured Other Consumer ² 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% Residential Mortgage Home Equity Auto Loans Personal Unsecured Other Consumer ²24 Consumer NCO levels are marginally higher than prior year, reflecting continued consumer resilience, despite higher delinquencies, as well as strong recoveries. Consumer NCOs are lower versus prior quarter, consistent with seasonal trends. Charge-offs and Recoveries by Portfolio Segment Net charge-offs1 Recoveries3 Q1 2026 Recap Charge-offs1,2 1 | Charge-offs and NCOs are based on a percentage of their respective average loan balances. 2 | Includes current period gross write-offs for Q1 2026 by portfolio segment. 3 | Recoveries are based on a percentage of gross charge-offs. 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% Commercial Consumer 0% 20% 40% 60% 80% 100% 120% Commercial Consumer 0.0% 0.3% 0.6% 0.9% 1.2% 1.5% 1.8% Commercial Consumer25 Santander1 A1/Baa1 SHUSA Baa2 SBNA2 Baa1 Santander1 A+/A- SHUSA BBB+ SBNA A- Stable outlook (May 17, 2026) In May 2026, Fitch upgraded SBNA’s senior unsecured debt ratings from ‘A-’ to ‘A’, and affirmed SHUSA’s senior unsecured debt ratings at ‘A-’ S&P and Moody’s affirmed SHUSA’s senior unsecured debt ratings in July 2025 and February 2026, respectively In October 2025, Moody's upgraded Santander’s1 senior preferred debt rating from ‘A2’ to ‘A1’ and in April 2026 Moody’s affirmed Santander’s ratings after taking CMDI related rating actions on EU banks Outlook remains “stable” for all ratings and entities SR. DEBT RATINGS BY SANTANDER ENTITY Santander1 A+/A SHUSA A- SBNA A Stable outlook (February 6, 2026) Stable outlook (July 23, 2025) Rating Agencies 1 | Senior preferred debt / senior non-preferred debt for Santander. 2 | SBNA long-term issuer rating.26 SHUSA | Quarterly Trended Statement Of Operations ($M) Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Interest income $ 2,890 $ 2,985 $ 3,133 $ 3,182 $ 3,137 Interest expense (1,395) (1,490) (1,614) (1,701) (1,679) Net interest income 1,495 1,495 1,519 1,481 1,458 Fees & other income 778 818 821 849 838 Other non-interest income 26 40 53 22 40 Net revenue 2,299 2,353 2,393 2,352 2,336 General, administrative, and other expenses (1,385) (1,487) (1,479) (1,444) (1,527) Credit losses expense/(benefit) (431) (489) (368) (373) (426) Income before taxes 483 377 546 535 383 Income tax (expense)/benefit (69) (52) (90) (37) (17) Net income / (loss) 414 325 456 498 366 NIM 4.0% 3.9% 4.0% 3.9% 3.9%27 SHUSA | Non-GAAP Reconciliations – Income Statement Metrics 1 | Represents US GAAP measure. 2 | Represents non-US GAAP measure. ($M) Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 SHUSA Revenue Net interest income1 $ 1,495 $ 1,495 $ 1,519 $ 1,481 $ 1,458 Total non-interest income1 804 858 874 871 878 Lease expense1 (287) (282) (336) (340) (355) Total revenue2 2,012 2,071 2,057 2,012 1,981 SHUSA Non-Interest Income Total non-interest income1 $ 804 $ 858 $ 874 $ 871 $ 878 Lease expense1 (287) (282) (336) (340) (355) Non-interest income2 517 576 538 531 523 Net Lease Income Lease income1 $ 321 $ 351 $ 395 $ 419 $ 466 Lease expense1 (287) (282) (336) (340) (355) Net lease income2 34 69 59 79 111 SHUSA G&A and Other Total general, administrative & other expenses1 $ 1,385 $ 1,487 $ 1,479 $ 1,444 $ 1,527 Lease expense1 (287) (282) (336) (340) (355) General, administrative & other (excl. lease)2 1,098 1,205 1,143 1,104 1,17228 SHUSA | Non-GAAP Reconciliations – Capital Metrics ($M) Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 CET1 to risk-weighted assets CET1 capital $ 13,862 $ 13,500 $ 14,584 $ 14,173 $ 13,751 Risk-weighted assets 106,804 107,408 110,787 110,393 110,211 Ratio 13.0% 12.6% 13.2% 12.8% 12.5% Tier 1 leverage Tier 1 capital $ 15,862 $ 15,500 $ 16,584 $ 16,173 $ 15,751 Avg total assets, leverage capital purposes 169,594 168,713 170,254 172,553 171,534 Ratio 9.4% 9.2% 9.7% 9.4% 9.2% Tier 1 risk-based Tier 1 capital $ 15,862 $ 15,500 $ 16,584 $ 16,173 $ 15,751 Risk-weighted assets 106,804 107,408 110,787 110,393 110,211 Ratio 14.9% 14.4% 15.0% 14.7% 14.3% Total risk-based Risk-based capital $ 18,133 $ 17,776 $ 18,910 $ 18,501 $ 18,093 Risk-weighted assets 106,804 107,408 110,787 110,393 110,211 Ratio 17.0% 16.5% 17.1% 16.8% 16.4%Thank You. 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1 Confidential March 6, 2026 SANTANDER HOLDINGS USA, INC. Fourth Quarter 2025 Fixed Income Investor Presentation2 Confidential This presentation of Santander Holdings USA, Inc. (“SHUSA”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans and future performance of SHUSA. Words such as “may,” “could,” “should,” “will,” “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “goal” or similar expressions are intended to indicate forward-looking statements. Although SHUSA believes that the expectations reflected in these forward-looking statements are reasonable as of the date on which the statements are made, factors such as the risks and uncertainties described in SHUSA’s filings with the Securities and Exchange Commission from time to time may cause SHUSA’s performance to differ materially from that suggested by the forward-looking statements. If one or more of the factors affecting SHUSA’s forward-looking statements renders those statements incorrect, SHUSA’s actual results, performance or achievements could differ materially from those expressed in or implied by the forward-looking statements. Readers should not consider these factors to be a complete set of all potential risks or uncertainties as new factors emerge from time to time. In this presentation, we may sometimes refer to certain non-GAAP figures or financial ratios to help illustrate certain concepts. These ratios, each of which is defined in this document, if utilized, may include Pre- Tax Pre- Provision Income, the Tangible Common Equity to Tangible Assets Ratio, and the Texas Ratio. This information supplements our results as reported in accordance with generally accepted accounting principles (“GAAP”) and should not be viewed in isolation from, or as a substitute for, our GAAP results. We believe that this additional information and the reconciliations we provide may be useful to investors, analysts, regulators and others as they evaluate the impact of these items on our results for the periods presented due to the extent to which the items are indicative of our ongoing operations. Where applicable, we provide GAAP reconciliations for such additional information. SHUSA’s subsidiaries include Santander Consumer USA Inc. (“SC”), Santander Bank, N.A. (“SBNA”), Banco Santander International (“BSI”), Santander Securities LLC (“SSLLC”), Santander US Capital Markets LLC (“SanCap”), as well as several other subsidiaries. The information in this presentation is intended only to assist investors and does not constitute legal, tax, accounting, financial or investment advice or an offer to invest. In making this presentation available, SHUSA gives no advice and makes no recommendation to buy, sell, or otherwise deal in shares or other securities of Banco Santander, S.A. (“Santander”), SHUSA, SBNA, SC or any other securities or investments. It is not our intention to state, indicate, or imply in any manner that current or past results are indicative of future results or expectations. As with all investments, there are associated risks, and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal, and financial advisors and independently evaluate the risks, consequences, and suitability of that investment. No offering of securities shall be made in the United States except pursuant to registration under the Securities Act of 1933, as amended, or an exemption therefrom. Important Information3 Confidential 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities4 Confidential Santander SHUSA $165B Assets2 ~10,300 employees Our business model focuses on four core segments as we continue to leverage Santander’s connectivity Core Segments and 2025 Assets ($B) Consumer Market-leading full spectrum auto lender and Consumer & Business Banking (“CBB”) $64 Commercial Leading multifamily bank lender and proven servicer $26 Corporate & Investment Banking (CIB) Global hub for capital markets and investment banking $32 Wealth Management Leading brand in LatAm for high- net-worth (“HNW”) clients $601 SC & Openbank operate in all 50 states SBNA Products include: • C&I4 • CRE5 • Auto • Openbank SANCAP • Fixed-income, real estate, and finance advisory BSI • Manages wealth for HNW clients SC • Leading auto loan originator and top ABS3 issuer SHUSA’s Main Subsidiaries SHUSA is a wholly-owned subsidiary of Santander, one of the most respected banking groups in the world with approximately 180 million customers across Europe, Latin America and the U.S. SHUSA 1 | Represents assets and assets under management, which includes customer deposits, securities, loans and letters of credits. 2 | Includes assets categorized as “other”. 3 | Asset-backed securitization (“ABS”). 4 | Commercial and industrial (“C&I”). 5 | Commercial real estate (“CRE”).5 Confidential SHUSA 2025 Results at a Glance Improved Financial Metrics Stable Credit Strong Capital & Liquidity $6.0B NET INTEREST INCOME (“NII”) Up 6.7% YoY 14.2% 30-89 DAYS AUTO1 DELINQUENCY Up 215bps YoY 12.6% COMMON EQUITY TIER 1 (“CET1”) $1.6B NET INCOME Up 52.7% YoY 2.5% NCO RATE2 Flat YoY 24.7% TOTAL LOSS-ABSORBING CAPACITY (“TLAC”) RATIO 3.9% NET INTEREST MARGIN (“NIM”) Up 13bps YoY 7.3% ALLOWANCE RATIO3 Down 27bps YoY $79B SHUSA DEPOSITS Up 1.1% YoY (Growth in customer deposits reduces reliance on brokered products) 1 | Consumer auto only. 2 | Total yearly net charge-offs (“NCOs”) / average balance of financing receivables (Consumer + Commercial). 3 | Using total loans held-for-investment.6 Confidential 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities7 Confidential Re ve nu e1 Sustainable NII growth driven by funding efficiency and benefits associated with growth in Openbank deposits Ongoing growth in capital-light fee income supported by performance in Consumer, Commercial, and Wealth segments G& A Ex pe ns es 2 Disciplined cost management continues to support strategic investments in our core businesses while driving operating leverage Cr ed it Lo ss Ex pe ns e Credit performance is stable as charge-offs remain subdued despite normalizing delinquencies, reflecting resilient consumer behavior and strong underwriting Disciplined balance sheet positioning and risk management practices underpin sustained performance across diverse economic conditions Ne t In co m e Continued execution of our strategic agenda supported by disciplined cost management and strong credit quality is accelerating performance across our key businesses and producing double-digit net income growth Annual Profitability 1 | Net of lease expense. Please refer to slide 33 for a detailed reconciliation of all non-GAAP measures. 2 | General, Administrative & Other, “G&A” excludes lease expense. Please refer to slide 33 for a detailed reconciliation of non-GAAP measures. SHUSA NII ($M) $4,402 $4,566 $4,624 2023 2024 2025 $2,226 $1,937 $1,656 2023 2024 2025 $933 $1,077 $1,645 2023 2024 2025 $7,415 $7,474 $8,121 2023 2024 2025 +1% +9% -15% +53%8 Confidential Positive YoY performance of NII and NIM sustained by: Disciplined Auto pricing strategy underpinning portfolio margin expansion Higher contribution from investment securities and liquidity balances Organic Openbank deposit expansion improving funding efficiency NII Securities FF1 sold & repos Interest-earning deposits Loans Borrowings Trading liabilities FF1 purchased & repos Deposits SHUSA NII ($M) NII & NIM Drivers Net Interest Income & Net Interest Margin 1 | Federal funds. $5,875 $5,578 $5,953 +7% 8,270 8,580 8,357 774 910 920 2,415 2,787 1,679 895 1,189 1,481 1,544 2,059 1,880 2,739 3,283 2,210 142 170 151 2,054 2,376 2,243 $12,354 $6,479 $13,466 $7,888 $12,437 $6,484 Int. Income Int. Expense Int. Income Int. Expense Int. Income Int. Expense 2023 2024 20252 24 2025 NIM 4.0% 3.8% 3.9%9 Confidential Securities gains, net Miscellaneous income, net Capital market revenue Net lease income1 Consumer and commercial fees 349 416 487 538 470 318 196 409 494 312 377 714 145 224 155 $1,540 $1,896 $2,168 2023 2024 2025 Non-Interest Income Non-interest income increased YoY driven by: Growth in capital-light fee income driven by servicing for others in Auto, Multi-family servicing, and Wealth Management fees Increased capital market revenue driven by higher investment banking income Miscellaneous income reflects a fair value adjustment on our interest in the U.K. Limited Partnership2. Prior year was impacted by strategic activities within CBB3 Offset by lower net lease income due to lower active lease units Non-Interest Income ($M) Non-Interest Income Drivers +14% 1 | Includes lease income net of lease expense. Please refer to slide 28 for a detailed reconciliation of all non-GAAP measures. 2 | For additional information regarding the U.K. Limited Partnership, refer to Note 1 “Description of Business, Basis of Presentation and Accounting Policies” in the Company’s Form 10-K for the fiscal year ended December 31, 2025. 3 | During Q3 2024, the Company sold ~$1.3B of personal unsecured loans to a third party. The transaction resulted in a loss on sale of ~$106.8M, offset by a release of the allowance for credit losses (“ACL”) in the amount of ~$101.8M.10 Confidential 2,065 2,145 2,138 667 653 726 729 797 868 357 334 355 584 637 537 $4,402 $4,566 $4,624 2023 2024 2025 Other expense Loan Technology2 Occupancy and equipment Compensation and benefits General, Administrative, & Other Expenses1 G&A and other expenses (excluding lease expense) up modestly YoY driven by: Targeted investments in growth initiatives including the build-out of our Openbank digital platform and CIB capabilities Offset by disciplined execution of transformation and cost-efficiency programs Expenses ($M) Expense Drivers 1 | Excludes lease expense. Please refer to slide 33 for a detailed reconciliation of all non-GAAP measures. 2 | Includes outside services and marketing. +1%11 Confidential Strong credit performance YoY driven by: Improved NCOs supported by: Consumer resilience continues despite delinquency metrics reverting toward historical levels Elevated recoveries benefiting from favorable used vehicle pricing Release in ACL resulting from loan sales in personal unsecured, Auto, and Commercial portfolios Credit Loss Expense Total Allowance for Credit Losses ($M) Expense Drivers 2023 2024 2025 ALLL1, beginning of period ("BOP") $ 6,8352 $ 6,932 $ 6,562 Credit loss expense 2,251 1,950 1,651 Net charge-offs (2,154) (2,320) (2,214) ALLL, end of period ("EOP") 6,932 6,562 5,999 Reserve for unfunded lending commitments, BOP 86 61 48 Credit loss (benefit) unfunded lending commitments, EOP (25) (13) 5 Reserve for unfunded lending commitments, EOP 61 48 53 Total ACL, EOP $ 6,993 $ 6,610 $ 6,052 1 | Allowance for loan and lease losses (“ALLL”). 2 | ALLL BOP includes day 1 adjustment to allowance for adoption of ASU 2022-02. 3 | Includes credit loss (benefit) on unfunded lending commitments. Net Charge-offs ($M) -5% Credit Loss / (Benefit) Expense3 ($M) -15% $2,154 $2,320 $2,214 2023 2024 2025 $2,226 $1,937 $1,656 2023 2024 202512 Confidential 87 83 29 39 19 14 18 21 12 8 $165 $165 2024 2025 Loans and leases down 7.0% YoY, driven by lower auto originations, off-balance sheet securitizations, and portfolio sales Total loan yields were flat YoY primarily due to increases in Auto, reflecting our strategic focus on pricing profitability over growth, offset by decreases in other Consumer and Commercial 2025 Recap ($B) Balance Sheet Trends | Assets Assets ($B) Yield on Loans ($B) Loans & Leases ($B) LHFS1 Other Residential Leases C&I and Other Commercial CRE and Multifamily Auto Leases Other Assets2 Cash Investments Gross Loans 5.3% 13.6% 12.4% 9.5% 0% 5% 10% 15% 2019 2020 2021 2022 2023 2024 2025 Total commercial Auto Total consumer Total loans 44 43 18 18 16 16 12 8 7 6 2 1 1 1 $100 $93 2024 2025 1 | Loans held-for-sale (“LHFS”). 2 | Other assets includes securities purchased under repurchase agreements, LHFS, and restricted cash.13 Confidential 2.4% 2.6% 2.1% 2023 2024 2025 25 27 21 15 15 14 12 12 5 11 $78 $79 2024 2025 63 65 44 37 25 31 18 18 15 14 $165 $165 2024 2025 IBD5 Deposits Balance Sheet Trends | Liabilities Deposits ($B) Cost of Deposits ($B) Liabilities & Equity ($B) Deposits by Business Consumer 69% Commercial 18% CIB 4% Wealth Management 7% Other4 2% NIBD1 Equity Other Liabilities2 Borrowed Funds IB3 Deposits Savings NIBD1 CDs6 Money Market 1 | Noninterest-bearing demand ("NIBD") deposits. 2 | Other liabilities include securities sold under repurchase agreements and trading liabilities. 3 | Interest-bearing (“IB”) deposits. 4 | Other consists of deposits related to certain of SHUSA’s immaterial subsidiaries and corporate treasury deposits. 5 | Interest-bearing demand (“IBD”) deposits. 6 | Certificates of deposit (“CDs”). -55bps14 Confidential Cash at Federal Reserve Capacity at FHLB Discount window Liquidity from unencumbered securities (5% haircut) Liquidity from released govt. deposit collateral5 44.2 27.3 Liquidity & Wholesale Funding Cash and Immediately Available Sources of Liquidity Uninsured Deposits 2024 2025 SBNA Insured Deposits 64% 64% 2025 Ratio: 162% 14.6 12.3 2.2 5.3 9.8 SBNA Contingent Liquidity ($B)Borrowed Funds Profile | Balance ($B) 2024 2025 YoY SHUSA Unsecured Debt1 $ 13.7 $ 13.5 1% FHLB3 4.7 0.7 (85%) Credit-Linked Notes ("CLNs") 1.2 0.9 (25%) Third-Party Secured Funding4 4.0 2.2 (45%) Amortizing Notes 1.9 1.2 (37%) Securitizations 18.5 18.6 1% Total SHUSA Funding 44.0 37.1 (16%) Preferred Equity Issuance to Santander $ 2.0 $ 2.0 - 1 | Includes subordinated notes; includes BSI unsecured debt and $850M of notes payable to Santander. 2 | These notes are payable to SHUSA’s parent company, Santander. 3 | Federal Home Loan Bank (“FHLB”) borrowings. 4 | The warehouse lines and repurchase facilities are fully collateralized by a designated portion of SHUSA’s retail installment contracts (“RICs”), leased. Includes $2B warehouse line with Santander NY Branch. 5 | Includes high quality liquid assets that are encumbered as collateral for uninsured government deposits.15 Confidential $0.50 6.57% $0.75 6.89% $1.00 6.50% $0.50 7.66% $1.00 9.38% $0.85 SOFR +57bps $0.50 6.12% $0.40 SOFR +161 $1.00 6.17% $0.75 5.74% $0.50 8.41% $0.95 3.24% $1.05 4.40% $1.00 2.49% $0.85 5.47% $1.00 5.35% $0.50 2.88% $0.50 7.18% $0.75 6.34% $0.50 8.17% $1.80 $2.30 $1.00 $2.75 $2.00 $1.75 $0.50 $0.75 $2.00 2026 2027 2028 2029 2030 2031 2032 2035 Perpetual Public issuance Private placement Internal TLAC Debt & TLAC 1 | SHUSA must hold the higher of 18% of its risk-weighted assets (“RWAs”) or 9% of its total consolidated assets in the form of TLAC, of which 6% of its RWAs or 3.5% of total consolidated assets must consist of LTD. In addition, SHUSA must maintain a TLAC buffer composed solely of CET1 capital and will be subject to restrictions on capital distributions and discretionary bonus payments based on the size of the TLAC buffer it maintains. SHUSA is SEC-registered and issues under the ticker symbol “SANUSA”, with ratings for SHUSA of A-(Fitch)/Baa2(Moody’s)/BBB+(S&P) SHUSA meets the Federal Reserve’s TLAC and long-term debt (“LTD”) requirements1, with 24.7% TLAC, 9.2% eligible LTD and a CET1 ratio of 12.6% SHUSA Debt Maturity Schedule ($B)16 Confidential On June 27, 2025, the Federal Reserve informed SHUSA of its updated stress capital buffer (“SCB”) requirement, which became effective on October 1, 2025. SHUSA’s updated SCB is 3.4% of its CET1, resulting in an overall CET1 capital requirement of 7.9%. Capital Ratios 1 | Under capital rules, SHUSA is not required to include negative accumulated other comprehensive income (“AOCI”) in regulatory capital, but as a subsidiary of a global systemically important bank (“GSIB”) we manage AOCI closely as it impacts regulatory capital at the global consolidated level. 2 | Estimate considering the full liquidation value of available-for-sale (“AFS”) and held-to-maturity (“HTM”) securities, net of statutory tax (26%). CET11 Tier 1 Leverage Ratio1 Tier 1 Risk-Based Capital Ratio1 Total Risk-Based Capital Ratio1 9.3% 9.2% 2024 2025 14.7% 14.4% 2024 2025 16.8% 16.5% 2024 2025 12.7% 12.6% 11.0% 11.4% 2024 2025 CET1 AFS & HTM Marked217 Confidential 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities18 Confidential 1 | Multifamily Construction is reported within “CRE” in the Company’s Form 10-K for the fiscal year ended December 31, 2025. Total Multifamily = $9.60B and total other CRE = $8.13B. 2 | Excludes Commercial Vehicle Financing. 3 | Does not include the acquired 20% interest in a structured limited liability company (the "Structured LLC") for approximately $1.1B. The Structured LLC was established by the FDIC to hold and service a $9B portfolio primarily consisting of New York-based rent-controlled and rent-stabilized multifamily loans retained by the FDIC following a recent bank failure. SBNA classifies its 20 percent interest in the Structured LLC as an AFS debt security. Business Activities Overview In addition to branch-based deposits, CBB attracts customers nationwide through its digital banking platform, Openbank Market-leading full-spectrum auto lender Financing and banking services to corporations with institutional broker dealer, SanCap Equity research reports Investment banking BSI leads in international private banking Servicing LatAm UHNW and HNW individuals Four investment platforms Edge Act corporation Present in Miami, New York, Houston & San Diego Sales & trading US fixed-income market making Structuring and advisory services CRE: Consists primarily of multifamily loans, and robust servicing fee income from FDIC joint venture1,2,3 C&I: Provides services to a range of commercial customers Multifamily 54% Multifamily Construction 23% Office 9% Retail 4% Industrial 5% Other 5% Consumer Commercial Corporate & Investment Banking Wealth Management Auto Relationships Preferred Lending Pass-Through Strategic19 Confidential Consumer Activities | Auto & CBB 1 | Prior period data has been recast. 2 | Auto loans excludes commercial fleet and LHFS. 3 | Ending balance loans and leases held-for-investment (“HFI”). Loans & Deposits ($B) Income Statement Data Total Consumer Deposits ($M) Auto Distribution by FICO® Segment2 20241 2025 Total Consumer Activities YoY($M) Auto CBB Auto CBB Interest income $ 6,414 $ 2,936 $ 6,478 $ 2,947 0.8% Interest expense 2,765 1,467 2,692 1,471 (1.6%) Fees and other income 72 139 136 274 94.3% Lease income 2,179 - 1,631 - (25.1%) Credit loss expense/(benefit) 1,955 18 1,718 (19) (13.9%) Lease expense 1,708 - 1,312 - (23.1%) General, administrative and other expenses 1,345 1,422 1,192 1,559 (0.5%) Income/(loss) before income taxes 892 168 1,331 210 45.4% ($B) 2024 2025 YoY Total assets as of 12/31 $ 60 $ 10 $ 56 $ 8 (8.7%) 20241 2025 YoY Residential mortgages $ 4.4 $ 4.0 (9.1%) Home equity loans and lines of credit 2.1 1.9 (9.5%) Auto loans 44.6 42.7 (4.3%) Personal unsecured loans 1.7 0.5 (70.6)% Total consumer loans3 52.8 49.1 (7.0%) Total consumer deposits $ 49.3 $ 54.3 10.1% 16% 17% 11% 9% 9% 7% 7% 6% 6% 7% 53% 51% 51% 41% 38% 38% 35% 34% 33% 36% 17% 17% 18% 16% 16% 16% 17% 18% 19% 19% 14% 15% 21% 34% 38% 39% 41% 42% 42% 38% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 >=640 600-639 <600 No FICO 8,550 7,911 40,705 46,371 NIBD deposits IBD deposits NIBD deposits IBD deposits 2024 2025 $49,255 +10.2% $54,28220 Confidential Commercial Activities | CRE, Multifamily, and C&I Loans and Deposits ($B) Income Statement Data Portfolio by Maturity and Interest Rate Type ($B) CRE Portfolio and Geographic Diversification 20241 2025 Total Commercial Activities YoY($M) C&I CRE C&I CRE Interest income $ 988 $ 1,535 $ 878 $ 1,442 (8.0%) Interest expense 633 1,035 538 957 (10.4%) Fees and other income 66 76 69 78 3.5% Credit loss expense/(benefit) (66) 70 (20) (14) NM General, administrative and other expenses 190 142 197 148 3.9% Income/(loss) before income taxes 298 365 231 430 (0.3%) ($B) 2024 2025 YoY Total assets as of 12/31 $ 4 $ 23 $ 4 $ 23 (2.3%) 20241 2025 YoY CRE loans $ 8.6 $ 8.1 (5.8%) C&I loans 8.4 7.8 (7.1%) Multifamily loans 9.8 9.6 (2.0%) Other commercial 7.7 8.3 7.8% Total commercial loans2 34.5 33.8 (2.0%) Total commercial deposits $ 13.8 $ 14.3 3.6% 1 | Prior period data has been recast. 2 | Ending balance loans and leases HFI. ALL ~ $17.7B Multifamily 54% Multifamily Construction 23% Office 9% Retail 4% Industrial 5% Other 5% NY 28% NJ 12% FL 9%TX 9% Other 42% $- $1 $2 $3 $4 $5 In One Year or Less One to Five Years Five+ Years Fixed Rate CRE Fixed Rate Multifamily Variable Rate CRE Variable Rate Multifamily21 Confidential CIB & Wealth Management CIB Income Statement Data Wealth Income Statement Data 1 | Prior period data has been recast. ($M) 20241 2025 YoY Interest income $ 3,886 $ 2,879 (25.9%) Interest expense 3,767 2,611 (30.7%) Fees and other income 662 723 9.2% Credit loss expense/(benefit) (38) (6) 84.2% Lease expense 1 1 - General, administrative and other expenses 834 860 (3.2%) Income/(loss) before income taxes (16) 136 NM ($B) 2024 2025 YoY Total assets as of 12/31 $ 25 $ 32 24.8% Total deposits 3 3 (6.1%) ($M) 20241 2025 YoY Interest income $ 369 $ 338 (8.4%) Interest expense 157 158 0.6% Fees and other income 325 562 72.9% General, administrative and other expenses 280 286 1.8% Income/(loss) before income taxes 257 456 77.4% Asset and wealth management fees 289 321 11.1% ($B) 2024 2025 YoY Total assets as of 12/31 $ 8 $ 9 19.0% Total deposits 5 6 9.1%22 Confidential 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities23 Confidential 2,136 2,093 2,048 261 231 175 577 414 366 307 395 396 514 461 442 693 568 491 40 36 41 620 549 516 $3,281 $1,867 $3,133 $1,614 $2,985 $1,490 Int. Income Int. Expense Int. Income Int. Expense Int. Income Int. Expense Q4 2024 Q3 2025 Q4 2025 NII Securities FF sold & repos Interest-earning deposits Loans Borrowings Trading liabilities FF purchased & repos Deposits SHUSA NII ($M) Quarterly | Net Interest Income & Net Interest Margin -1% +6% Q4 2024 Q3 2025 Q4 2025 NIM 3.8% 4.0% 4.0% $1,414 $1,495$1,51924 Confidential 125 128 123 122 59 69 92 154 109 113 144 235 40 53 40 $492 $538 $576 Q4 2024 Q3 2025 Q4 2025 Quarterly | Non-Interest Income 1 | Includes lease income net of lease expense. Please refer to slide 34 for a detailed reconciliation of all non-GAAP measures. Non-Interest Income ($M) +7% +17% Miscellaneous income, net Capital market revenue Net lease income1 Consumer and commercial fees Securities gains, net25 Confidential 545 534 531 179 168 201 222 203 247 79 102 92 168 136 134 $1193 $1143 $1205 Q4 2024 Q3 2025 Q4 2025 Expenses ($M) +5% +1% Other expense Loan Technology2 Occupancy and equipment Compensation and benefits Quarterly | General, Administrative, & Other Expenses1 1 | Excludes lease expense. Please refer to slide 34 for a detailed reconciliation of all non-GAAP measures. 2 | Includes outside services and marketing.26 Confidential Net Charge-offs ($M) Credit Loss / (Benefit) Expense1 ($M) Credit Loss Expense Total Allowance for Credit Loss (“ACL”) ($M) Q4 2024 Q3 2025 Q4 2025 ALLL, BOP $ 6,561 $ 6,357 $ 6,148 Credit loss expense 618 371 487 Net charge-offs (617) (580) (636) ALLL, EOP 6,562 6,148 5,999 Reserve for unfunded lending commitments, BOP 46 54 51 Credit loss (benefit) unfunded lending commitments, EOP 2 (3) 2 Reserve for unfunded lending commitments, EOP 48 51 53 Total ACL, EOP $ 6,610 $ 6,199 $ 6,052 $617 $547 $451 $580 $636 4Q24 1Q25 2Q25 3Q25 4Q25 $620 $426 $373 $368 $489 4Q24 1Q25 2Q25 3Q25 4Q25 +3% -21% 1 | Includes credit loss (benefit) on unfunded lending commitments.27 Confidential 87 87 85 84 83 29 33 36 38 39 19 21 21 16 14 18 20 20 20 21 12 11 10 10 8 $165 $172 $172 $168 $165 4Q24 1Q25 2Q25 3Q25 4Q25 Balance Sheet Trends | Assets & Liabilities 1 | Other liabilities include securities sold under repurchase agreements and trading liabilities. 2 | Other assets includes securities purchased under repurchase agreements, LHFS, and restricted cash. Assets ($B) Loans & Leases ($B) LHFS Other Residential Leases C&I and Other Commercial CRE and Multifamily Auto Leases Other Assets2 Cash Investments Gross Loans 44 45 43 43 43 18 19 19 18 18 16 16 16 16 $16 12 11 10 10 8 7 6 6 6 62 2 2 1 1 1 1 1 2 1 $100 $100 $97 $96 $93 4Q24 1Q25 2Q25 3Q25 4Q25 Deposits ($B) Liabilities & Equity ($B) 63 65 66 63 65 44 45 42 41 37 25 30 32 32 31 18 18 18 19 18 15 14 14 13 14 $165 $172 $172 $168 $165 4Q24 1Q25 2Q25 3Q25 4Q25 NIBD Equity Other Liabilities1 Borrowed Funds IB Deposits 25 26 27 26 27 21 20 18 16 15 15 14 14 13 14 12 12 12 12 12 5 7 9 9 11 $78 $79 $80 $76 $79 4Q24 1Q25 2Q25 3Q25 4Q25 Savings IBD Deposits NIBD CDs Money Market28 Confidential Loan Delinquency by Portfolio Class Consumer | 90+ Days Past Due1 Commercial | 90+ Days Past Due1 Consumer | 30-89 Days Past Due1 Commercial | 30-89 Days Past Due1 1 | Based on a percentage of financing receivables for their respective loan businesses. 2 | Other consumer ($18.3M in Q4 2025) primarily includes recreational vehicle and marine loans. 3 | Other commercial ($8.2B in Q4 2025) includes commercial equipment vehicle financing leveraged leases and loans. -0.4% 0.1% 0.6% 1.1% 1.6% 2021 2022 2023 2024 2025 CRE C&I Multifamily Other Commercial ³ 0.0% 1.0% 2.0% 3.0% 2021 2022 2023 2024 2025 CRE C&I Multifamily Other Commercial ³ 0.0% 5.0% 10.0% 15.0% 2021 2022 2023 2024 2025 Residential Mortgage Home Equity Auto Loans Personal Unsecured Other Consumer ² 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 2021 2022 2023 2024 2025 Residential Mortgage Home Equity Auto Loans Personal Unsecured Other Consumer ²29 Confidential Consumer NCOs were slightly lower YoY, primarily driven by resilient consumer behavior and recovery tailwinds from a favorable used vehicle market. Charge-offs and Recoveries by Portfolio Segment Net charge-offs1 Recoveries3 2025 Recap Charge-offs1,2 1 | Charge-offs and NCOs are based on a percentage of their respective average loan balances. 2 | Includes current period gross write-offs for Q4 2025 by portfolio segment. 3 | Recoveries are based on a percentage of gross charge-offs. 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 2021 2022 2023 2024 2025 Commercial Consumer 0% 50% 100% 150% 2021 2022 2023 2024 2025 Commercial Consumer 0.0% 0.3% 0.6% 0.9% 1.2% 1.5% 1.8% 2021 2022 2023 2024 2025 Commercial Consumer30 Confidential Santander1 A1/Baa1 SHUSA Baa2 SBNA2 Baa1 Santander1 A+/A- SHUSA BBB+ SBNA A- Stable outlook (May 19, 2025) In May 2025, Fitch affirmed SHUSA’s senior unsecured debt ratings at ‘A-’ rating S&P and Moody’s affirmed SHUSA’s senior unsecured debt ratings in July 2025 and February 2026, respectively In October 2025, Moody's upgraded Santander’s1 senior preferred debt rating from A2 to A1 Outlook remains “stable” for all ratings and entities SR. DEBT RATINGS BY SANTANDER ENTITY Santander1 A+/A SHUSA A- SBNA A- Stable outlook (February 6, 2026) Stable outlook (July 23, 2025) Rating Agencies 1 | Senior preferred debt / senior non-preferred debt for Banco Santander, S.A. 2 | SBNA long-term issuer rating.31 Confidential SHUSA | Quarterly Trended Statement Of Operations ($M) Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Interest income $ 3,281 $ 3,137 $ 3,182 $ 3,133 $ 2,985 Interest expense (1,867) (1,679) (1,701) (1,614) (1,490) Net interest income 1,414 1,458 1,481 1,519 1,495 Fees & other income 826 838 849 821 818 Other non-interest income 40 40 22 53 40 Net revenue 2,280 2,336 2,352 2,393 2,353 General, administrative, and other expenses (1,567) (1,527) (1,444) (1,479) (1,487) Credit losses expense/(benefit) (620) (426) (373) (368) (489) Income before taxes 93 383 535 546 377 Income tax (expense)/benefit 33 (17) (37) (90) (52) Net income / (loss) 126 366 498 456 325 NIM 3.8% 3.9% 3.9% 4.0% 3.9%32 Confidential SHUSA | Annual Trended Statement Of Operations ($M) 2023 2024 2025 Interest income $ 12,355 $ 13,466 $ 12,437 Interest expense (6,480) (7,889) (6,484) Net interest income 5,875 5,577 5,953 Fees & other income 3,320 3,380 3,326 Other non-interest income 145 224 155 Net revenue 9,340 9,181 9,434 General, administrative, and other expenses (6,327) (6,274) (5,936) Credit losses expense/(benefit) (2,226) (1,937) (1,656) Income before taxes 787 970 1,842 Income tax (expense)/benefit 146 107 (196) Net income / (loss) 933 1,077 1,646 NIM 4.0% 3.8% 3.9%33 Confidential SHUSA | Non-GAAP Reconciliations – Income Statement Metrics 1 | Represents US GAAP measure. 2 | Represents non-US GAAP measure. ($M) 2023 2024 2025 SHUSA Revenue Net interest income1 $ 5,875 $ 5,578 $ 5,953 Total non-interest income1 3,465 3,605 3,481 Lease expense1 (1,925) (1,708) (1,313) Total revenue2 7,415 7,474 8,121 SHUSA Non-Interest Income Total non-interest income1 $ 3,465 $ 3,605 $ 3,481 Lease expense1 (1,925) (1,708) (1,313) Non-interest income2 1,540 1,896 2,168 Net Lease Income Lease income1 $ 2,463 $ 2,179 $ 1,631 Lease expense1 (1,925) (1,708) (1,313) Net lease income2 538 470 318 SHUSA G&A and Other Total general, administrative & other expenses1 $ 6,327 $ 6,274 $ 5,936 Lease expense1 (1,925) (1,708) (1,313) General, administrative & other (excl. lease)2 4,402 4,566 4,62334 Confidential SHUSA | Quarterly Non-GAAP Reconciliations – Income Statement Metrics 1 | Represents US GAAP measure. 2 | Represents non-US GAAP measure. ($M) Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 SHUSA Revenue Net interest income1 $ 1,414 $ 1,458 $ 1,481 $ 1,519 $ 1,495 Total non-interest income1 866 878 871 874 858 Lease expense1 (374) (355) (340) (336) (282) Total revenue2 1,906 1,981 2,012 2,057 2,071 SHUSA Non-Interest Income Total non-interest income1 $ 866 $ 878 $ 871 $ 874 $ 858 Lease expense1 (374) (355) (340) (336) (282) Non-interest income2 492 523 531 538 576 Net Lease Income Lease income1 $ 496 $ 466 $ 419 $ 395 $ 351 Lease expense1 (374) (355) (340) (336) (282) Net lease income2 122 111 79 59 69 SHUSA G&A and Other Total general, administrative & other expenses1 $ 1,566 $ 1,527 $ 1,444 $ 1,479 $ 1,487 Lease expense1 (374) (355) (340) (336) (282) General, administrative & other (excl. lease)2 1,193 1,172 1,104 1,143 1,20535 Confidential SHUSA | Non-GAAP Reconciliations – Capital Metrics ($M) 2024 2025 CET1 to risk-weighted assets CET1 capital $ 13,724 $ 13,500 Risk-weighted assets 108,006 107,408 Ratio 12.7% 12.6% Tier 1 leverage Tier 1 capital $ 15,839 $ 15,500 Avg total assets, leverage capital purposes 170,835 168,713 Ratio 9.3% 9.2% Tier 1 risk-based Tier 1 capital $ 15,839 $ 15,500 Risk-weighted assets 108,006 107,408 Ratio 14.7% 14.4% Total risk-based Risk-based capital $ 18,177 $ 17,776 Risk-weighted assets 108,006 107,408 Ratio 16.8% 16.5%Thank You. Our purpose is to help people and businesses prosper. Our culture is based on believing that everything we do should be:
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1 Confidential2 Confidential3 Confidential4 Confidential • • • • • • ••5 Confidential6 Confidential7 Confidential ▪ ▪ ▪ ▪ ▪ ▪8 Confidential ▪ ▪ ▪9 Confidential ▪ ▪ ▪ ▪10 Confidential ▪ ▪ ▪11 Confidential ▪ ▪ ▪ ▪12 Confidential13 Confidential ▪ ▪14 Confidential15 Confidential16 Confidential ▪ ▪17 Confidential18 Confidential19 Confidential ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪20 Confidential21 Confidential22 Confidential23 Confidential24 Confidential25 Confidential ▪26 Confidential ▪ ▪ ▪ ▪27 Confidential28 Confidential29 Confidential
4 Nov 2025
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Form 4
Santander Holdings USA, Inc.
31 Jan 2022
Form 3
Veltre Maria
12 Sep 2018
Form 4
Santander Holdings USA, Inc.
17 Nov 2017
Form 3
Aditya Mahesh
17 May 2017
Form 3
Cornish David L
12 May 2017
Form 3
Rousseau Henri-Paul Griffiths
16 Mar 2017
Form 3
DONCEL RAZOLA JOSE
7 Jul 2016
Form 3
Griffiths Daniel
21 Jun 2016
Form 3
Wolf William John
29 Apr 2016
Form 3
Dayal Madhukar
15 Apr 2016
Form 3
Lipsitz Michael
2 Sep 2015
Form 3
Olaizola Juan
2 Sep 2015
Form 3
Goldman Kenneth Michael
2 Sep 2015
Form 3
Matarranz Victor
6 Aug 2015
Form 3
Sulpizio Christel
5 Aug 2015
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SC 13D/A
Santander Consumer USA Holdings Inc.
31 Jan 2022
SC 13G
Santander Consumer USA Holdings Inc.
14 Feb 2017
SC 13G
Santander Consumer USA Holdings Inc.
12 Feb 2016
SC 13G
Santander Consumer USA Holdings Inc.
17 Feb 2015
SC 13G/A
SOVEREIGN BANCORP INC
17 Feb 2009
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SOVEREIGN BANCORP INC
16 Jan 2009
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SOVEREIGN BANCORP INC
25 Nov 2008
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SOVEREIGN BANCORP INC
25 Nov 2008
SC 13D/A
SOVEREIGN BANCORP INC
15 Oct 2008
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SOVEREIGN BANCORP INC
14 Oct 2008
SC 13G
SOVEREIGN BANCORP INC
31 Jul 2008
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SOVEREIGN BANCORP INC
25 Jul 2008
SC 13G
SOVEREIGN BANCORP INC
11 Jul 2008
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30 May 2008
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SOVEREIGN BANCORP INC
20 May 2008
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29 Jul 2021
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22 Dec 2008
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24 Mar 2008
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3 Apr 2007
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14 Mar 2007
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5 Sep 2006
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23 Aug 2006
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25 Apr 2006
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24 Mar 2006
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17 Mar 2006
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28 Jan 2022
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21 Jan 2022
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13 Jan 2022
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8-K
1 August 12, 2026 SANTANDER HOLDINGS USA, INC. Second Quarter 2026 Fixed Income Investor Presentation2 This presentation of Santander Holdings USA, Inc. (“SHUSA”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans and future performance of SHUSA. Words such as “may,” “could,” “should,” “will,” “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “goal” or similar expressions are intended to indicate forward-looking statements. Although SHUSA believes that the expectations reflected in these forward-looking statements are reasonable as of the date on which the statements are made, factors such as the risks and uncertainties described in SHUSA’s filings with the Securities and Exchange Commission from time to time may cause SHUSA’s performance to differ materially from that suggested by the forward-looking statements. If one or more of the factors affecting SHUSA’s forward-looking statements renders those statements incorrect, SHUSA’s actual results, performance or achievements could differ materially from those expressed in or implied by the forward-looking statements. Readers should not consider these factors to be a complete set of all potential risks or uncertainties as new factors emerge from time to time. In this presentation, we may sometimes refer to certain non-GAAP figures or financial ratios to help illustrate certain concepts. These ratios, each of which is defined in this document, if utilized, may include Pre- Tax Pre- Provision Income, the Tangible Common Equity to Tangible Assets Ratio, and the Texas Ratio. This information supplements our results as reported in accordance with generally accepted accounting principles (“GAAP”) and should not be viewed in isolation from, or as a substitute for, our GAAP results. We believe that this additional information and the reconciliations we provide may be useful to investors, analysts, regulators and others as they evaluate the impact of these items on our results for the periods presented due to the extent to which the items are indicative of our ongoing operations. Where applicable, we provide GAAP reconciliations for such additional information. SHUSA’s subsidiaries include Santander Consumer USA Inc. (“SC”), Santander Bank, N.A. (“SBNA”), Banco Santander International (“BSI”), Santander Securities LLC (“SSLLC”), Santander US Capital Markets LLC (“SanCap”), as well as several other subsidiaries. The information in this presentation is intended only to assist investors and does not constitute legal, tax, accounting, financial or investment advice or an offer to invest. In making this presentation available, SHUSA gives no advice and makes no recommendation to buy, sell, or otherwise deal in shares or other securities of Banco Santander, S.A. (“Santander”), SHUSA, SBNA, SC or any other securities or investments. It is not our intention to state, indicate, or imply in any manner that current or past results are indicative of future results or expectations. As with all investments, there are associated risks, and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal, and financial advisors and independently evaluate the risks, consequences, and suitability of that investment. No offering of securities shall be made in the United States except pursuant to registration under the Securities Act of 1933, as amended, or an exemption therefrom. Important Information3 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities4 Consumer Market-leading full spectrum auto lender and Consumer & Business Banking (“CBB”) $64B Commercial Leading multifamily bank lender and proven servicer $26B Corporate & Investment Banking (“CIB”) Global hub for capital markets and investment banking $36B Wealth Management Leading brand in LatAm for ultra-high-net-worth (“UHNW”) and high-net-worth (“HNW”) clients $64B4 SHUSA Total $165B5 SHUSA 1 | Asset-backed securitizations. 2 | Certificates of deposit. 3 | Federal Home Loan Bank borrowings. 4 | Represents assets and assets under management (“AUM”), which includes customer deposits, securities, loans and letters of credits. 5 | Includes assets categorized as “other”; excludes AUM. SHUSA SC Fund auto loans & leases with warehouse borrowings, ABS1, unsecured SHUSA debt SBNA Fund consumer & commercial loans with deposits, brokered CDs2 & sweeps, FHLB3, ABS New auto originations transitioned to SBNA beginning March 2026 SanCap Fund capital markets with repos (FICC central clearing & bilateral/triparty), SHUSA op lines BSI International wealth management business Core Segments Q2 2026 Assets BANCO SANTANDER, S.A. Source of Strength / Intragroup Funding5 SHUSA Q2 2026 Results at a Glance Improved Financial Metrics Normalized Credit Strong Capital / Liquidity $1.5B NET INTEREST INCOME (“NII”) Up 1.7% QoQ Up 2.7% YoY 13.2% 30-89 DAYS AUTO1 DELINQUENCY Up 95bps QoQ Up 62bps YoY 13.7% COMMON EQUITY TIER 1 (“CET1”) Up 68bps QoQ Up 84bps YoY $585M NET INCOME Up 41.2% QoQ Up 17.5% YoY 0.5% NCO RATE2 Down 15bps QoQ Flat YoY 27.5% TOTAL LOSS ABSORBING CAPACITY (“TLAC”) RATIO Up 280bps QoQ Up 110bps YoY 4.0% NET INTEREST MARGIN (“NIM”) Up 9bps QoQ Up 16bps YoY 6.9% ALLOWANCE RATIO3 Down 14bps QoQ Down 47bps YoY $79.6B SHUSA DEPOSITS Down 2.0% QoQ Down 0.9% YoY 1 | Consumer auto only. 2 | Total quarterly net charge-offs (“NCOs”) / average balance of financing receivables (Consumer + Commercial). 3 | Allowance for credit losses (“ACL”) to total loans outstanding.6 Webster Transaction On August 4th, 2026, Santander received Federal Reserve approval for the acquisition of Webster Financial Corporation (“Webster”). This follows the approval by the Office of the Comptroller of the Currency on June 12, 2026, and the authorization granted by the European Central Bank on July 21, 2026. The transaction is now expected to close on August 20, 2026. 1 | Based on reported figures as of June 30, 2026. SHUSA Webster Combined Total assets $ 165 $ 86 $ 251 Loans 84 58 142 Deposits 80 70 150 Leadership SHUSA and Webster Combined ($B)1 Webster and Santander US Branch Footprint Tim Ryan Non-Executive Chairman of Santander US Christiana Riley CEO and President of Santander US John Ciulla CEO SBNA, currently Chairman and CEO of Webster Reporting to SHUSA board Luis Massiani COO, SHUSA and SBNA Reporting to J. Ciulla and C. Riley Webster branches Santander US branches NY MA NJ RI CT NHVT PA D E ME MD FL7 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities8 Re ve nu e1 Strong NII and stable NIM performance driven by funding optimization associated with Openbank expansion and higher investment securities yields Virtually all Auto loan and lease originations now funded with deposits, reducing reliance on wholesale funding Continued growth in CIB and capital-light fee businesses G& A Ex pe ns es 2 Cost management remains disciplined, supported by continued execution of transformation initiatives Lower expenses in technology, occupancy and equipment, and loan servicing QoQ and YoY, demonstrate disciplined execution of transformation and cost-efficiency initiatives Cr ed it Lo ss Ex pe ns e Reduced credit loss expense driven by lower charge-offs offsetting normalized delinquencies; quarter benefited from Auto seasonality Resilient consumer behavior and strong recoveries continue to support favorable credit performance despite normalizing delinquencies Ne t In co m e Double-digit net income growth driven by CIB performance, funding optimization, cost discipline, and credit strength offset by sunset of electric vehicle tax credits Continued earnings momentum with 8 consecutive quarters of YoY net income growth Quarterly Profitability 1 | Net of lease expense. Please refer to slide 27 and 28 for a detailed reconciliation of all non-GAAP measures. 2 | General, Administrative & Other (“G&A”) excludes lease expense. Please refer to slide 27 and 28 for a detailed reconciliation of non-GAAP measures. Performance Highlights +5% $2,012 $2,057 $2,071 $2,012 $2,111 2Q25 3Q25 4Q25 1Q26 2Q26 $1,104 $1,143 $1,204 $1,098 $1,105 2Q25 3Q25 4Q25 1Q26 2Q26 $373 $368 $489 $431 $247 2Q25 3Q25 4Q25 1Q26 2Q26 $498 $456 $326 $414 $585 2Q25 3Q25 4Q25 1Q26 2Q26 +0% -34% +17%9 2,096 1,994 1,990 270 163 154 458 310 293 358 423 445 489 441 443 590 430 421 33 43 46 589 481 451 $3,182 $1,701 $2,890 $1,395 $2,882 $1,361 Int. Income Int. Expense Int. Income Int. Expense Int. Income Int. Expense Q2 2025 Q1 2026 Q2 2026 The YoY and QoQ increases in NII and stable NIM were primarily driven by: Continued funding cost optimization supported by Openbank expansion Higher investment securities yields, reflecting balance sheet repositioning and higher rate environment Partially offset by lower loan and securities financing income as volumes and rates moderated Stable NIM reflects continued discipline in asset-liability management despite lower earning asset balances NII Securities FF1 sold & repos Interest-earning deposits Loans Borrowings2 Trading liabilities FF1 purchased & repos IB3 deposits SHUSA NII ($M) NII & NIM Drivers Net Interest Income & Net Interest Margin 1 | Federal funds. 2 | Includes FHLB advances. 3 | Interest-bearing. $1,481 $1,495 $1,521 +3% Q2 2025 Q1 2026 Q2 2026 NIM 3.9% 4.0% 4.0% +2%10 127 124 110 79 34 69 133 171 251 170 162 139 22 26 22 $531 $517 $591 Q2 2025 Q1 2026 Q2 2026 Securities gains, net Miscellaneous income, net Capital market revenue Net lease income1 Consumer and commercial fees Non-Interest Income Non-interest income increased QoQ driven by: Higher capital market revenue, reflecting continued growth in CIB business Partially offset by a decrease in consumer loan fees and losses on loan sales Non-interest income increased YoY driven by: Strong capital market revenue driven by continued CIB expansion Continued fee income growth driven by Auto servicing for others, Multi-family servicing, and Wealth Management fees Partially offset by lower consumer fee income, reduced net lease income due to lower active lease units, and losses on loan sales 1 | Includes lease income net of lease expense. Please refer to slide 27 and 28 for a detailed reconciliation of all non-GAAP measures. Non-Interest Income ($M) Non-Interest Income Drivers +11% +14%11 509 544 542 172 162 161 213 216 190 86 84 75 124 92 137 $1,104 $1,098 $1,105 Q2 2025 Q1 2026 Q2 2026 Other expenses Loan Technology2 Occupancy and equipment Compensation and benefits General, Administrative, & Other Expenses1 G&A and other expenses (excluding lease expense) flat QoQ and YoY driven by: Lower expenses in technology, occupancy and equipment, and loan servicing QoQ and YoY, demonstrate disciplined execution of transformation and cost-efficiency initiatives Sequential and YoY savings offset by increased accruals in other expense Expense Drivers 1 | Excludes lease expense. Please refer to slide 27 and 28 for a detailed reconciliation of all non-GAAP measures. 2 | Includes outside services and marketing expense. +0% +1% Expenses ($M)12 $373 $368 $489 $432 $247 2Q25 3Q25 4Q25 1Q26 2Q26 $451 $579 $636 $521 $396 2Q25 3Q25 4Q25 1Q26 2Q26 Credit loss expense improved QoQ and YoY underpinned by: Auto seasonality driving lower NCOs QoQ NCOs remained below prior-year levels, with resilient consumer performance and strong recoveries, offsetting the impact of normalized delinquencies ACL reserves releases driven by Auto seasonality and lower exposure in personal unsecured following Q4 loan sales Credit Loss Expense Expense Drivers Q2 2026 Q1 2026 Q2 2025 ALLL2, beginning of period ("BOP") $ 5,954 $ 6,000 $ 6,434 Day 1 allowance on purchased seasoned loans at acquisition3 - 38 - Credit loss expense4 260 437 374 Net charge-offs (396) (521) (451) ALLL, end of period ("EOP") 5,818 5,954 6,357 Reserve for unfunded lending commitments, BOP 47 53 55 Credit loss (benefit) unfunded lending commitments, EOP (13) (5) (1) Reserve for unfunded lending commitments, EOP 34 48 54 Total ACL, EOP 5,852 6,002 6,411 1 | Totals may not agree to the Company’s Form 10-Q for the period ended June 30, 2026, due to rounding. 2 | Allowance for loan and lease losses (“ALLL”). 3 | Purchased loans comprise purchased seasoned loans and purchased credit-deteriorated loans. 4 | Includes credit loss (benefit) on unfunded lending commitments. -12% -34% Net Charge-offs ($M) Credit Loss / (Benefit) Expense4 ($M) Total Allowance for Credit Losses1 ($M)13 85 84 83 83 83 36 38 39 40 40 20 20 21 23 24 21 16 14 15 11 10 10 8 7 7 $172 $168 $165 $168 $165 2Q25 3Q25 4Q25 1Q26 2Q26 43 43 43 44 44 19 18 18 18 17 16 16 16 16 16 10 10 8 7 7 6 6 6 6 61 2 1 1 1 2 1 1 $97 $96 $93 $92 $91 2Q25 3Q25 4Q25 1Q26 2Q26 5.3% 13.3% 12.1% 9.3% 0% 5% 10% 15% Total commercial Auto Total consumer Total loans Loans and leases down 1.1% QoQ and 6.2% YoY, driven by lower auto lease originations, off-balance sheet securitizations, and portfolio sales Total loan yields were flat QoQ and YoY, reflecting a stable short-term interest rate environment Balance Sheet Trends | Assets LHFS1 Other Residential Leases C&I2 and Other Commercial CRE3 and Multifamily Auto Leases Other Assets4 Cash Investments Gross LHFI5 1 | Loans held for sale. 2 | Commercial and industrial. 3 | Commercial real estate. 4 | Other assets includes securities purchased under repurchase agreements, LHFS, equipment, goodwill, intangible assets, bank-owned life insurance (“BOLI”), restricted cash, and ALLL. 5 | Loans held for investment. Yield on Loans ($B)Assets ($B) Loans & Leases ($B) Q2 2026 Recap14 66 63 65 67 67 32 32 31 34 34 42 41 37 35 33 18 19 18 18 18 14 13 14 14 13 $172 $168 $165 $168 $165 2Q25 3Q25 4Q25 1Q26 2Q26 Consumer 72% Commercial 17% CIB 2% Wealth Management 7% Other3 2% 2.7% 2.8% 2.6% 2.5% 2.5% 2.3% 2.1% 2.2% 2.1% 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 27 26 27 27 26 9 9 11 15 15 14 13 14 14 13 18 16 15 13 14 12 12 12 12 12 $80 $76 $79 $81 $80 2Q25 3Q25 4Q25 1Q26 2Q26 IBD4 Deposits Balance Sheet Trends | Liabilities NIBD1 Deposits Equity Other Liabilities2 Borrowed Funds IB Deposits Savings NIBD Deposits CDs Money Market 1 | Non-interest-bearing demand. 2 | Other liabilities includes accrued expenses, advance payments, securities sold under repurchase agreements and trading liabilities. 3 | Other consists of deposits related to certain of SHUSA’s immaterial subsidiaries and corporate treasury deposits. 4 | Interest-bearing demand. Liabilities & Equity ($B) Deposits ($B) Cost of Deposits ($B) Deposits by Business15 Cash at Federal Reserve Capacity at FHLB Discount window Liquidity from unencumbered securities (5% haircut) Liquidity from released govt. deposit collateral3 40.0 26.9 Liquidity & Wholesale Funding Cash and Immediately Available Sources of Liquidity Uninsured Deposits Q1 2026 Q2 2026 SBNA Insured Deposits 65% 66% 2Q26 Ratio: 149% 12.8 9.2 2.0 4.8 11.2 SBNA Contingent Liquidity ($B)Borrowed Funds Profile | Balance ($B) 1 | Includes subordinated notes; includes BSI unsecured debt and $850M of notes payable to Santander. 2 | The warehouse lines and repurchase facilities are fully collateralized by a designated portion of SHUSA’s retail installment contracts (“RICs”), leased. Includes $2B warehouse line with Santander’s NY branch. 3 | Includes high quality liquid assets that are encumbered as collateral for uninsured government deposits. % Variance Q2 2026 Q1 2026 Q2 2025 QoQ YoY SHUSA Unsecured Debt1 $ 14.2 $ 13.2 $ 14.2 8% - FHLB 1.1 0.5 2.5 120% (56%) Credit-Linked Notes ("CLNs") 1.3 1.1 0.9 18% 44% Third-Party Secured Funding2 0.4 1.9 3.8 (79%) (89%) Amortizing Notes 0.7 1.0 1.8 (20%) (56%) Securitizations 15.0 17.7 18.9 (15%) (21%) Total SHUSA Funding 32.7 35.4 42.1 (7%) (22%) Preferred Equity Issuance to Santander $ 2.0 $ 2.0 $ 2.0 - -16 $0.50 6.57% $1.00 6.50% $1.00 6.17% $0.50 7.66% $1.00 9.38% $0.85 SOFR2 +57bps $0.40 SOFR +161bps $1.00 5.35% $0.75 5.74% $0.50 7.18% $0.50 8.41% $0.95 3.24% $1.05 4.40% $1.00 2.49% $0.85 5.47% $1.00 5.04% $0.50 2.88% $0.75 5.22% $0.75 6.34% $0.75 5.70% $0.50 8.17% $1.80 $1.05 $1.00 $2.75 $3.00 $1.75 $0.50 $0.75 $0.75 $2.00 2026 2027 2028 2029 2030 2031 2032 2035 2037 Perpetual Public issuance Private placement Internal TLAC Debt & TLAC 1 | SHUSA must hold the higher of 18% of its risk-weighted assets (“RWAs”) or 9% of its total consolidated assets in the form of TLAC, of which 6% of its RWAs or 3.5% of total consolidated assets must consist of LTD. In addition, SHUSA must maintain a TLAC buffer composed solely of CET1 capital and will be subject to restrictions on capital distributions and discretionary bonus payments based on the size of the TLAC buffer it maintains. 2 | Secured Overnight Financing Rate. SHUSA is SEC-registered and issues under the ticker symbol “SANUSA”, with ratings for SHUSA of A-(Fitch)/Baa2(Moody’s)/BBB+(S&P) SHUSA meets the Federal Reserve’s TLAC and long-term debt (“LTD”) requirements1, with 27.5% TLAC, 10.9% eligible LTD and a CET1 ratio of 13.7% In June 2026, SHUSA issued $2.5B of senior unsecured notes across a 4nc3yr structure ($1B) at 5.04%, 6nc5yr structure ($750M) at 5.22%, and a 11nc10yr structure ($750M) at 5.70% SHUSA Debt Maturity Schedule ($B)17 12.8% 13.2% 12.6% 13.0% 13.7% 2Q25 3Q25 4Q25 1Q26 2Q26 On June 27, 2025, the Federal Reserve informed SHUSA of its updated stress capital buffer (“SCB”) requirement, which became effective on October 1, 2025. SHUSA’s updated SCB is 3.4% of its CET1, resulting in an overall CET1 capital requirement of 7.9%. Capital Ratios 1 | Under capital rules, SHUSA is not required to include negative accumulated other comprehensive income (“AOCI”) in regulatory capital, but as a subsidiary of a global systemically important bank we manage AOCI closely as it impacts regulatory capital at the global consolidated level. 2 | Estimate considering the full liquidation value of available-for-sale (“AFS”) and held-to-maturity (“HTM”) securities, net of statutory tax (26%). CET1 AFS & HTM Marked2 11.37% 11.85% 11.21% 11.52% 12.29% Tier 1 Risk-Based Capital Ratio1 Total Risk-Based Capital Ratio1 9.4% 9.7% 9.2% 9.4% 9.5% 2Q25 3Q25 4Q25 1Q26 2Q26 14.7% 15.0% 14.4% 14.9% 15.6% 2Q25 3Q25 4Q25 1Q26 2Q26 CET11 Tier 1 Leverage Ratio1 16.8% 17.1% 16.5% 17.0% 17.8% 2Q25 3Q25 4Q25 1Q26 2Q2618 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities19 Multifamily 55% Multifamily Construction 24% Office 8% Retail 4% Industrial 4% Other 5% 1 | Multifamily Construction is reported within “CRE” in the Company’s Form 10-Q for the period ended June 30, 2026. Total Multifamily = $9.37B and total other CRE = $7.70B. 2 | Excludes commercial equipment vehicle financing. 3 | Does not include the acquired 20% interest in a structured limited liability company (the "Structured LLC") for approximately $1.1B. The Structured LLC was established by the FDIC to hold and service a $9B portfolio primarily consisting of New York-based rent-controlled and rent-stabilized multifamily loans retained by the FDIC following a recent bank failure. SBNA classifies its 20% interest in the Structured LLC as an AFS debt security. Business Activities Overview In addition to branch-based deposits, CBB attracts customers nationwide through its digital banking platform, Openbank Market-leading full-spectrum auto lender Financing and banking services to corporations with institutional broker dealer, SanCap Equity research reports Investment banking BSI leads in international private banking Servicing LatAm UHNW and HNW individuals Four investment platforms Edge Act corporation Present in Miami, New York, Houston & San Diego Sales & trading US fixed-income market making Structuring and advisory services CRE: Consists primarily of multifamily loans, and robust servicing fee income from FDIC joint venture1,2,3 C&I: Provides services to a range of commercial customers Consumer Commercial Corporate & Investment Banking Wealth Management Auto Relationships Preferred Lending Pass-Through Strategic20 16% 17% 11% 9% 9% 7% 7% 6% 6% 7% 6% 53% 51% 51% 41% 38% 38% 35% 34% 33% 36% 37% 17% 17% 18% 16% 16% 16% 17% 18% 19% 19% 19% 14% 15% 21% 34% 38% 39% 41% 42% 42% 38% 38% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q2'26 >=640 600-639 <600 No FICO $44,623 $44,113 $46,371 $50,182 $50,037 $8,293 $8,043 $7,911 $8,048 $7,782 $52,916 $52,156 $54,282 $58,230 $57,819 2Q25 3Q25 4Q25 1Q26 2Q26 IBD deposits NIBD deposits Income Statement Data Consumer Activities | Auto & CBB 1 | Prior period data has been recast. 2 | Auto loans excludes commercial fleet and LHFS. 3 | Ending balance loans and leases held-for-investment (“HFI”). Q2 2026 Q2 20251 Total Consumer Activities YoY($M) Auto CBB Auto CBB Interest income $ 1,574 $ 748 $ 1,607 $ 748 (1.4%) Interest expense 606 392 683 376 (5.8%) Fees and other income 20 74 70 73 (34.3%) Lease income 285 - 419 - (32.0%) Credit loss expense/(benefit) 278 3 342 27 (24.1%) Lease expense 216 - 340 - (36.5%) General, administrative and other expenses 311 366 338 381 (5.8%) Income/(loss) before income taxes 468 61 393 37 22.7% ($B) 2026 2025 YoY Total assets as of 6/30 $ 56 $ 8 $ 58 $ 9 (4.6%) Q2 2026 Q2 20251 YoY Residential mortgages $ 3.9 $ 4.2 (7.1%) Home equity loans and lines of credit 1.7 1.9 (10.5%) Auto loans 43.4 42.9 1.2% Personal unsecured loans 0.5 1.6 (68.8%) Total consumer loans3 49.5 50.6 (2.2%) Total consumer deposits $ 57.8 $ 52.9 9.3% +9.3% Loans & Deposits ($B) Auto Distribution by FICO® Segment2 Total Consumer Deposits ($B)21 $- $1 $2 $3 $4 $5 In One Year or Less One to Five Years Five+ Years Fixed Rate CRE Fixed Rate Multifamily Variable Rate CRE Variable Rate Multifamily NY 27% NJ 12% FL 9%TX 9% Other 43% Multifamily 55% Multifamily Construction 24% Office 8% Retail 4% Industrial 4% Other 5% Income Statement Data Commercial Activities | CRE, Multifamily, and C&I Loans & Deposits ($B) CRE Portfolio and Geographic Diversification Portfolio by Maturity and Interest Rate Type ($B) 1 | Prior period data has been recast. 2 | Ending balance loans and leases HFI. Q2 2026 Q2 20251 YoY CRE loans $ 7.7 $ 9.0 (14.4%) C&I loans 7.6 8.0 (5.0%) Multifamily loans 9.4 9.5 (1.1%) Other commercial 8.5 7.9 7.6% Total commercial loans2 33.2 34.4 (3.5%) Total commercial deposits $ 13.3 $ 13.7 (2.9%) Q2 2026 Q2 20251 Total Commercial Activities YoY($M) C&I CRE C&I CRE Interest income $ 186 $ 339 $ 220 $ 366 (10.4%) Interest expense 117 217 136 241 (11.4%) Fees and other income 12 33 18 13 45.2% Credit loss expense/(benefit) (14) (19) (1) 6 NM General, administrative and other expenses 44 45 47 46 (4.3%) Income/(loss) before income taxes 51 129 56 86 28.2% ($B) 2026 2025 YoY Total assets as of 6/30 $ 4 $ 22 $ 4 $ 23 (5.5%)22 CIB Income Statement Data CIB & Wealth Management Wealth Income Statement Data 1 | Prior period data has been recast. ($M) Q2 2026 Q2 20251 YoY Interest income $ 616 $ 767 (19.7%) Interest expense 529 692 (23.6%) Fees and other income 274 161 70.2% Credit loss expense/(benefit) 1 - NM General, administrative and other expenses 242 233 3.9% Income/(loss) before income taxes 118 3 3833.3% ($B) 2026 2025 YoY Total assets as of 6/30 $ 36 $ 32 11.1% Total deposits 1.6 3.8 (57.8%) ($M) Q2 2026 Q2 20251 YoY Interest income $ 76 $ 86 (11.6%) Interest expense 37 35 5.7% Fees and other income 95 97 (2.1%) General, administrative and other expenses 77 70 10.0% Income/(loss) before income taxes 57 78 (28.2%) Asset and wealth management fees 89 86 3.5% ($B) 2026 2025 YoY Total assets as of 6/30 $ 9 $ 8 9.0% Total deposits 5.3 5.6 (5.1%)23 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities24 0% 5% 10% 15% Residential Mortgage Home Equity Auto Loans Personal Unsecured Other Consumer ² 0.0% 0.5% 1.0% 1.5% 2.0% CRE C&I Multifamily Other Commercial ³ Loan Delinquency by Portfolio Class 1 | Based on a percentage of financing receivables for their respective loan businesses. 2 | Other consumer ($14.0M in Q2 2026) primarily includes recreational vehicle and marine loans. 3 | Other commercial ($8.5B in Q2 2026) includes commercial equipment vehicle financing leveraged leases and loans. 0% 1% 2% 3% CRE C&I Multifamily Other Commercial ³ 0% 1% 2% 3% 4% 5% Residential Mortgage Home Equity Auto Loans Personal Unsecured Other Consumer ² Consumer | 30-89 Days Past Due1 Commercial | 30-89 Days Past Due1 Commercial | 90+ Days Past Due1Consumer | 90+ Days Past Due125 Recoveries3Net charge-offs1 Charge-offs1,2 Consumer NCOs remain marginally below prior-year levels, supported by continued consumer resilience and strong recoveries, despite higher delinquencies. Consumer NCOs decreased quarter-over-quarter, reflecting expected seasonality. Charge-offs and Recoveries by Portfolio Segment 1 | Charge-offs and NCOs are based on a percentage of their respective average loan balances. 2 | Includes current period gross write-offs for Q2 2026 by portfolio segment. 3 | Recoveries are based on a percentage of gross charge-offs. 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% Commercial Consumer 0% 50% 100% 150% Commercial Consumer 0.0% 0.3% 0.6% 0.9% 1.2% 1.5% 1.8% Commercial Consumer Q2 2026 Recap26 Santander1 A1/Baa1 SHUSA Baa2 SBNA2 Baa1 Santander1 A+/A- SHUSA BBB+ SBNA A- Stable outlook (May 17, 2026) In May 2026, Fitch upgraded SBNA’s senior unsecured debt ratings from ‘A-’ to ‘A’, and affirmed SHUSA’s senior unsecured debt ratings at ‘A-’ S&P and Moody’s affirmed SHUSA’s senior unsecured debt ratings in July 2025 and February 2026, respectively In October 2025, Moody's upgraded Santander’s1 senior preferred debt rating from ‘A2’ to ‘A1’ and in April 2026 Moody’s affirmed Santander’s ratings after taking CMDI related rating actions on EU banks Outlook remains “stable” for all ratings and entities SR. DEBT RATINGS BY SANTANDER ENTITY Santander1 A+/A SHUSA A- SBNA A Stable outlook (February 6, 2026) Stable outlook (July 23, 2025) Rating Agencies 1 | Senior preferred debt / senior non-preferred debt for Santander. 2 | SBNA long-term issuer rating.27 SHUSA | Quarterly Trended Statement Of Operations ($M) Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Interest income $ 2,882 $ 2,890 $ 2,985 $ 3,133 $ 3,182 Interest expense (1,361) (1,395) (1,490) (1,614) (1,701) Net interest income 1,521 1,495 1,495 1,519 1,481 Fees & other income 784 778 818 821 849 Other non-interest income 22 26 40 53 22 Net revenue 2,327 2,299 2,353 2,393 2,352 General, administrative, and other expenses (1,321) (1,385) (1,487) (1,479) (1,444) Credit losses expense/(benefit) (247) (431) (489) (368) (373) Income before taxes 759 483 377 546 535 Income tax (expense)/benefit (174) (69) (52) (90) (37) Net income / (loss) 585 414 325 456 498 NIM 4.0% 4.0% 3.9% 4.0% 3.9%28 SHUSA | Non-GAAP Reconciliations – Income Statement Metrics 1 | Represents US GAAP measure. 2 | Represents non-US GAAP measure. 3 | Total may not foot due to rounding. ($M) Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 SHUSA Revenue Net interest income1 $ 1,521 $ 1,495 $ 1,495 $ 1,519 $ 1,481 Total non-interest income1 806 804 858 874 871 Lease expense1 (216) (287) (282) (336) (340) Total revenue2 2,111 2,012 2,071 2,057 2,012 SHUSA Non-Interest Income Total non-interest income1 $ 806 $ 804 $ 858 $ 874 $ 871 Lease expense1 (216) (287) (282) (336) (340) Non-interest income2,3 591 517 576 538 531 Net Lease Income Lease income1 $ 285 $ 321 $ 351 $ 395 $ 419 Lease expense1 (216) (287) (282) (336) (340) Net lease income2 69 34 69 59 79 SHUSA G&A and Other Total general, administrative & other expenses1 $ 1,321 $ 1,385 $ 1,487 $ 1,479 $ 1,444 Lease expense1 (216) (287) (282) (336) (340) General, administrative & other (excl. lease)2 1,105 1,098 1,205 1,143 1,10429 SHUSA | Non-GAAP Reconciliations – Capital Metrics ($M) Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 CET1 to risk-weighted assets CET1 capital $ 14,160 $ 13,862 $ 13,500 $ 14,584 $ 14,173 Risk-weighted assets 103,532 106,804 107,408 110,787 110,393 Ratio 13.7% 13.0% 12.6% 13.2% 12.8% Tier 1 leverage Tier 1 capital $ 16,160 $ 15,862 $ 15,500 $ 16,584 $ 16,173 Avg total assets, leverage capital purposes 169,330 169,594 168,713 170,254 172,553 Ratio 9.5% 9.4% 9.2% 9.7% 9.4% Tier 1 risk-based Tier 1 capital $ 16,160 $ 15,862 $ 15,500 $ 16,584 $ 16,173 Risk-weighted assets 103,532 106,804 107,408 110,787 110,393 Ratio 15.6% 14.9% 14.4% 15.0% 14.7% Total risk-based Risk-based capital $ 18,390 $ 18,133 $ 17,776 $ 18,910 $ 18,501 Risk-weighted assets 103,532 106,804 107,408 110,787 110,393 Ratio 17.8% 17.0% 16.5% 17.1% 16.8%Thank You. Our purpose is to help people and businesses prosper. Our culture is based on believing that everything we do should be:
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1 June 12, 2026 SANTANDER HOLDINGS USA, INC. First Quarter 2026 Fixed Income Investor Presentation2 This presentation of Santander Holdings USA, Inc. (“SHUSA”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans and future performance of SHUSA. Words such as “may,” “could,” “should,” “will,” “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “goal” or similar expressions are intended to indicate forward-looking statements. Although SHUSA believes that the expectations reflected in these forward-looking statements are reasonable as of the date on which the statements are made, factors such as the risks and uncertainties described in SHUSA’s filings with the Securities and Exchange Commission from time to time may cause SHUSA’s performance to differ materially from that suggested by the forward-looking statements. If one or more of the factors affecting SHUSA’s forward-looking statements renders those statements incorrect, SHUSA’s actual results, performance or achievements could differ materially from those expressed in or implied by the forward-looking statements. Readers should not consider these factors to be a complete set of all potential risks or uncertainties as new factors emerge from time to time. In this presentation, we may sometimes refer to certain non-GAAP figures or financial ratios to help illustrate certain concepts. These ratios, each of which is defined in this document, if utilized, may include Pre- Tax Pre- Provision Income, the Tangible Common Equity to Tangible Assets Ratio, and the Texas Ratio. This information supplements our results as reported in accordance with generally accepted accounting principles (“GAAP”) and should not be viewed in isolation from, or as a substitute for, our GAAP results. We believe that this additional information and the reconciliations we provide may be useful to investors, analysts, regulators and others as they evaluate the impact of these items on our results for the periods presented due to the extent to which the items are indicative of our ongoing operations. Where applicable, we provide GAAP reconciliations for such additional information. SHUSA’s subsidiaries include Santander Consumer USA Inc. (“SC”), Santander Bank, N.A. (“SBNA”), Banco Santander International (“BSI”), Santander Securities LLC (“SSLLC”), Santander US Capital Markets LLC (“SanCap”), as well as several other subsidiaries. The information in this presentation is intended only to assist investors and does not constitute legal, tax, accounting, financial or investment advice or an offer to invest. In making this presentation available, SHUSA gives no advice and makes no recommendation to buy, sell, or otherwise deal in shares or other securities of Banco Santander, S.A. (“Santander”), SHUSA, SBNA, SC or any other securities or investments. It is not our intention to state, indicate, or imply in any manner that current or past results are indicative of future results or expectations. As with all investments, there are associated risks, and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal, and financial advisors and independently evaluate the risks, consequences, and suitability of that investment. No offering of securities shall be made in the United States except pursuant to registration under the Securities Act of 1933, as amended, or an exemption therefrom. Important Information3 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities4 SHUSA 1 | Asset-backed securitizations. 2 | Certificates of deposit. 3 | Federal Home Loan Bank borrowings. 4 | Represents assets and assets under management, which includes customer deposits, securities, loans and letters of credits. 5 | Includes assets categorized as “other”. SHUSA SC Fund auto loans & leases with warehouse borrowings, ABS1, unsecured SHUSA debt SBNA Fund consumer & commercial loans with deposits, brokered CDs2 & sweeps, FHLB3, ABS New auto originations transitioned to SBNA beginning March 2026 SanCap Fund capital markets with repos (FICC central clearing & bilateral/triparty), SHUSA op lines BSI International wealth management business BANCO SANTANDER, S.A. Source of Strength / Intragroup Funding Core Business Activities Q1 2026 Assets Consumer Market-leading full spectrum auto lender and Consumer & Business Banking (“CBB”) $63B Commercial Leading multifamily bank lender and proven servicer $26B Corporate & Investment Banking (“CIB”) Global hub for capital markets and investment banking $35B Wealth Management Leading brand in LatAm for ultra-high-net-worth (“UHNW”) and high-net-worth (“HNW”) clients $62B4 SHUSA Total $168B55 SHUSA Q1 2026 Results at a Glance Improved Financial Metrics Normalized Credit Strong Capital / Liquidity $1.5B NET INTEREST INCOME (“NII”) Up 0.1% QoQ Up 2.6% YoY 12.3% 30-89 DAYS AUTO1 DELINQUENCY Down 192bps QoQ Up 136bps YoY 13.0% COMMON EQUITY TIER 1 (“CET1”) Up 41bps QoQ Up 50bps YoY $414M NET INCOME Up 27.4% QoQ Up 13.2% YoY 0.6% NCO RATE2 Down 11bps QoQ Flat YoY 25.2% TOTAL LOSS ABSORBING CAPACITY (“TLAC”) RATIO Up 50bps QoQ Down 80bps YoY 4.0% NET INTEREST MARGIN (“NIM”) Flat QoQ Flat YoY 7.1% ALLOWANCE RATIO3 Down 9bps QoQ Down 26bps YoY $81.2B SHUSA DEPOSITS Up 2.8% QoQ Up 2.3% YoY (Growth in customer deposits reduces reliance on brokered products) 1 | Consumer auto only. 2 | Total quarterly net charge-offs (“NCOs”) / average balance of financing receivables (Consumer + Commercial). 3 | Allowance for credit losses (“ACL”) to total loans outstanding.6 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities7 Re ve nu e1 Stable NII performance reflecting funding efficiencies and benefits associated with continued expansion of Openbank deposits offset by lower loan and lease balances During the quarter we began funding virtually all Auto loans and lease originations with deposits Fee income continues to grow, driven by CIB and Wealth segments G& A Ex pe ns es 2 Focused cost discipline and continued execution of transformation initiatives QoQ expenses included non-recurring technology and occupancy-related changes, while YoY trends benefited from lower deposit insurance premiums Cr ed it Lo ss Ex pe ns e Credit loss expense remains stable with lower charge-offs offsetting the impact of normalizing delinquencies; QoQ trend driven by Auto seasonality Prudent underwriting and portfolio management continues to support stable loss trends across evolving economic conditions and seasonal portfolio dynamics Ne t In co m e Double-digit net income growth driven by record quarterly results in CIB, cost discipline, fee income, and credit strength offset by normalization of effective tax rate due to sunset of EV tax credits Continued positive earnings momentum with 7 consecutive quarters of YoY growth Quarterly Profitability 1 | Net of lease expense. Please refer to slide 27 for a detailed reconciliation of all non-GAAP measures. 2 | General, Administrative & Other (“G&A”) excludes lease expense. Please refer to slide 27 for a detailed reconciliation of non-GAAP measures. SHUSA NII ($M) $1,981 $2,012 $2,057 $2,071 $2,012 1Q25 2Q25 3Q25 4Q25 1Q26 $1,172 $1,104 $1,143 $1,204 $1,098 1Q25 2Q25 3Q25 4Q25 1Q26 $426 $373 $368 $489 $431 1Q25 2Q25 3Q25 4Q25 1Q26 $366 $498 $456 $326 $414 1Q25 2Q25 3Q25 4Q25 1Q26 +2% +13% -6% +1%8 Stable YoY and QoQ performance of NII and NIM sustained by: Openbank deposit growth enabling reduction of higher-cost liabilities and driving funding optimization Higher returns from investment securities Offset by lower interest and fees on federal funds sold and securities purchased under resale agreements due to lower volumes and rates NII Securities FF1 sold & repos Interest-earning deposits Loans Borrowings2 Trading liabilities FF1 purchased & repos IB3 Deposits SHUSA NII ($M) NII & NIM Drivers Net Interest Income & Net Interest Margin 1 | Federal funds. 2 | Includes FHLB advances. 3 | Interest-bearing. $1,458 $1,495 $1,495 +3% 2,120 2,048 1,994 245 175 163 441 366 310 331 396 423 489 442 441 562 491 430 40 41 43 588 516 481 $3,137 $1,679 $2,985 $1,490 $2,890 $1,395 Int. Income Int. Expense Int. Income Int. Expense Int. Income Int. Expense Q1 2025 Q4 2025 Q1 2026Q1 2025 Q4 2025 Q1 2026 NIM 3.9% 4.0% 4.0% +0%9 108 123 124 111 69 34 96 109 171 168 235 162 40 40 26 $523 $576 $517 Q1 2025 Q4 2025 Q1 2026 Securities gains, net Miscellaneous income, net Capital market revenue Net lease income1 Consumer and commercial fees Non-Interest Income Non-interest income decreased QoQ driven by: Prior quarter miscellaneous income reflects a fair value adjustment on our interest in the U.K. Limited Partnership2 Offset by increased capital market revenue driven by CIB business record quarter Non-interest income stable YoY driven by: Continued growth in capital-light fee income driven by Auto servicing for others, Multi- family servicing, and Wealth Management fees Offset by lower net lease income due to lower active lease units 1 | Includes lease income net of lease expense. Please refer to slide 27 for a detailed reconciliation of all non-GAAP measures. 2 | For additional information regarding the U.K. Limited Partnership, refer to Note 11 "Fair Value" in the Company's Form 10-Q for the quarterly period ended March 31, 2026. Non-Interest Income ($M) Non-Interest Income Drivers -1% -10%10 Other expense Loan Technology2 Occupancy and equipment Compensation and benefits General, Administrative, & Other Expenses1 G&A and other expenses (excluding lease expense) down QoQ and YoY driven by: Disciplined execution of transformation and cost-efficiency initiatives QoQ and YoY QoQ impacted by non-recurring charges related to technology and occupancy and equipment Other expense decreased due to lower deposit insurance premiums YoY Expenses ($M) Expense Drivers 1 | Excludes lease expense. Please refer to slide 27 for a detailed reconciliation of all non-GAAP measures. 2 | Includes outside services and marketing expense. -6% 564 531 544 185 201 162 204 247 216 76 92 84 143 134 92 $1,172 $1,205 $1,098 Q1 2025 Q4 2025 Q1 2026 -9%11 Strong credit performance QoQ and YoY driven by: Lower NCOs QoQ reflecting Auto seasonality NCOs below prior-year levels despite normalizing delinquencies, reflecting continued consumer resilience and recoveries which remain at historically elevated levels Release in ACL reserves due to seasonality in Auto and lower exposure in personal unsecured due to Q4 loan sales Credit Loss Expense Total Allowance for Credit Losses ($M) Expense Drivers Q1 2026 Q4 2025 Q1 2025 ALLL1, beginning of period ("BOP") $ 6,000 $ 6,148 $ 6,562 Day 1 allowance on purchased seasoned loans at acquisition2 38 - - Credit loss expense3 437 487 419 Net charge-offs (521) (636) (547) ALLL, end of period ("EOP") 5,954 5,999 6,434 Reserve for unfunded lending commitments, BOP 53 51 48 Credit loss (benefit) unfunded lending commitments, EOP (5) 2 7 Reserve for unfunded lending commitments, EOP 48 53 55 Total ACL, EOP 6,002 6,052 6,489 1 | Allowance for loan and lease losses (“ALLL”). 2 | Purchased loans comprise purchased seasoned loans and purchased credit deteriorated loans. 3 | Includes credit loss (benefit) on unfunded lending commitments. -5% +1% $547 $451 $579 $636 $521 1Q25 2Q25 3Q25 4Q25 1Q26 $426 $373 $368 $489 $432 1Q25 2Q25 3Q25 4Q25 1Q26 Net Charge-offs ($M) Credit Loss / (Benefit) Expense2 ($M)12 87 85 84 83 83 33 36 38 39 40 20 20 20 21 23 21 21 16 14 15 11 10 10 8 7 $172 $172 $168 $165 $168 1Q25 2Q25 3Q25 4Q25 1Q26 Loans and leases down 1.1% QoQ and 8.0% YoY, driven by lower auto originations, off-balance sheet securitizations, and portfolio sales Total loan yields were flat QoQ and YoY, reflecting a stable short-term interest rate environment Balance Sheet Trends | Assets LHFS1 Other Residential Leases C&I2 and Other Commercial CRE3 and Multifamily Auto Leases Other Assets4 Cash Investments Gross Loans 1 | Loans held-for-sale. 2 | Commercial and industrial. 3 | Commercial real estate. 4 | Other assets includes securities purchased under repurchase agreements, LHFS, restricted cash, and ALLL. 5.1% 13.6% 12.3% 9.4% 0% 5% 10% 15% Total commercial Auto Total consumer Total loans Yield on Loans ($B)Assets ($B) Loans & Leases ($B) Q1 2026 Recap 45 43 43 43 44 19 19 18 18 18 16 16 16 16 16 11 10 10 8 7 6 6 6 6 61 1 2 1 1 2 2 1 1 $100 $97 $96 $93 $92 1Q25 2Q25 3Q25 4Q25 1Q2613 IBD4 Deposits Balance Sheet Trends | Liabilities NIBD1 Deposits Equity Other Liabilities2 Borrowed Funds IB Deposits Savings NIBD Deposits CDs Money Market 1 | Non-interest-bearing demand. 2 | Other liabilities include securities sold under repurchase agreements and trading liabilities. 3 | Other consists of deposits related to certain of SHUSA’s immaterial subsidiaries and corporate treasury deposits. 4 | Interest-bearing demand. 65 66 63 65 67 45 42 41 37 35 30 32 32 31 34 18 18 19 18 18 14 14 13 14 14 $172 $172 $168 $165 $168 1Q25 2Q25 3Q25 4Q25 1Q26 Liabilities & Equity ($B) Deposits ($B) Cost of Deposits ($B) Deposits by Business 26 27 26 27 27 7 9 9 11 15 14 14 13 14 14 20 18 16 15 13 12 12 12 12 12 $79 $80 $76 $79 $81 1Q25 2Q25 3Q25 4Q25 1Q26 Consumer 72% Commercial 16% CIB 3% Wealth Management 7% Other3 2% 2.6% 2.7% 2.8% 2.6% 2.5% 2.5% 2.3% 2.1% 2.2% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q2614 Cash at Federal Reserve Capacity at FHLB Discount window Liquidity from unencumbered securities (5% haircut) Liquidity from released govt. deposit collateral3 45.4 27.6 Liquidity & Wholesale Funding Cash and Immediately Available Sources of Liquidity Uninsured Deposits Q4 2025 Q1 2026 SBNA Insured Deposits 64% 65% 1Q26 Ratio: 164% 14.0 13.6 2.0 4.9 10.9 SBNA Contingent Liquidity ($B)Borrowed Funds Profile | Balance ($B) 1 | Includes subordinated notes; includes BSI unsecured debt and $850M of notes payable to Santander. 2 | The warehouse lines and repurchase facilities are fully collateralized by a designated portion of SHUSA’s retail installment contracts (“RICs”), leased. Includes $2B warehouse line with Santander’s NY branch. 3 | Includes high quality liquid assets that are encumbered as collateral for uninsured government deposits. % Variance Q1 2026 Q4 2025 Q1 2025 QoQ YoY SHUSA Unsecured Debt1 $ 13.2 $ 13.5 $ 15.5 (2%) (15%) FHLB 0.5 0.7 3.2 (29%) (84%) Credit-Linked Notes ("CLNs") 1.1 0.9 1.1 22% - Third-Party Secured Funding2 1.9 2.2 3.2 (14%) (41%) Amortizing Notes 1.0 1.2 1.6 (17%) (38%) Securitizations 17.7 18.6 20.4 (5%) (13%) Total SHUSA Funding 35.4 37.1 45.0 (5%) (21%) Preferred Equity Issuance to Santander $ 2.0 $ 2.0 $ 2.0 - -15 $0.50 6.57% $0.75 6.89% $1.00 6.50% $0.50 7.66% $1.00 9.38% $0.85 SOFR2 +57bps $0.50 6.12% $0.40 SOFR +161 $1.00 6.17% $0.75 5.74% $0.50 8.41% $0.95 3.24% $1.05 4.40% $1.00 2.49% $0.85 5.47% $1.00 5.35% $0.50 2.88% $0.50 7.18% $0.75 6.34% $0.50 8.17% $1.80 $2.30 $1.00 $2.75 $2.00 $1.75 $0.50 $0.75 $2.00 2026 2027 2028 2029 2030 2031 2032 2035 Perpetual Public issuance Private placement Internal TLAC Debt & TLAC 1 | SHUSA must hold the higher of 18% of its risk-weighted assets (“RWAs”) or 9% of its total consolidated assets in the form of TLAC, of which 6% of its RWAs or 3.5% of total consolidated assets must consist of LTD. In addition, SHUSA must maintain a TLAC buffer composed solely of CET1 capital and will be subject to restrictions on capital distributions and discretionary bonus payments based on the size of the TLAC buffer it maintains. 2 | Secured Overnight Financing Rate. SHUSA is SEC-registered and issues under the ticker symbol “SANUSA”, with ratings for SHUSA of A-(Fitch)/Baa2(Moody’s)/BBB+(S&P) SHUSA meets the Federal Reserve’s TLAC and long-term debt (“LTD”) requirements1, with 25.2% TLAC, 8.8% eligible LTD and a CET1 ratio of 13.0% SHUSA Debt Maturity Schedule ($B)16 Confidential On June 27, 2025, the Federal Reserve informed SHUSA of its updated stress capital buffer (“SCB”) requirement, which became effective on October 1, 2025. SHUSA’s updated SCB is 3.4% of its CET1, resulting in an overall CET1 capital requirement of 7.9%. Capital Ratios 1 | Under capital rules, SHUSA is not required to include negative accumulated other comprehensive income (“AOCI”) in regulatory capital, but as a subsidiary of a global systemically important bank (“GSIB”) we manage AOCI closely as it impacts regulatory capital at the global consolidated level. 2 | Estimate considering the full liquidation value of available-for-sale (“AFS”) and held-to-maturity (“HTM”) securities, net of statutory tax (26%). CET1 AFS & HTM Marked2 11.01% 11.37% 11.85% 12.5% 12.8% 13.2% 12.6% 13.0% 1Q25 2Q25 3Q25 4Q25 1Q26 11.21% 11.52% 14.3% 14.7% 15.0% 14.4% 14.9% 1Q25 2Q25 3Q25 4Q25 1Q26 16.4% 16.8% 17.1% 16.5% 17.0% 1Q25 2Q25 3Q25 4Q25 1Q26 9.2% 9.4% 9.7% 9.2% 9.4% 1Q25 2Q25 3Q25 4Q25 1Q26 CET11 Tier 1 Leverage Ratio1 Tier 1 Risk-Based Capital Ratio1 Total Risk-Based Capital Ratio117 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities18 1 | Multifamily Construction is reported within “CRE” in the Company’s Form 10-Q for the period ended March 31, 2026. Total Multifamily = $9.51B and total other CRE = $8.00B. 2 | Excludes commercial equipment vehicle financing. 3 | Does not include the acquired 20% interest in a structured limited liability company (the "Structured LLC") for approximately $1.1B. The Structured LLC was established by the FDIC to hold and service a $9B portfolio primarily consisting of New York-based rent-controlled and rent-stabilized multifamily loans retained by the FDIC following a recent bank failure. SBNA classifies its 20% interest in the Structured LLC as an AFS debt security. Business Activities Overview In addition to branch-based deposits, CBB attracts customers nationwide through its digital banking platform, Openbank Market-leading full-spectrum auto lender Financing and banking services to corporations with institutional broker dealer, SanCap Equity research reports Investment banking BSI leads in international private banking Servicing LatAm UHNW and HNW individuals Four investment platforms Edge Act corporation Present in Miami, New York, Houston & San Diego Sales & trading US fixed-income market making Structuring and advisory services CRE: Consists primarily of multifamily loans, and robust servicing fee income from FDIC joint venture1,2,3 C&I: Provides services to a range of commercial customers Consumer Commercial Corporate & Investment Banking Wealth Management Auto Relationships Preferred Lending Pass-Through Strategic Multifamily 54% Multifamily Construction 23% Office 9% Retail 5% Industrial 5% Other 4%19 Income Statement Data Consumer Activities | Auto & CBB 1 | Prior period data has been recast. 2 | Auto loans excludes commercial fleet and LHFS. 3 | Ending balance loans and leases held-for-investment (“HFI”). Q1 2026 Q1 20251 Total Consumer Activities YoY($M) Auto CBB Auto CBB Interest income $ 1,585 $ 722 $ 1,633 $ 717 (1.8%) Interest expense 618 379 682 359 (4.2%) Fees and other income 40 72 20 62 35.4% Lease income 321 - 465 - (31.1%) Credit loss expense/(benefit) 420 (1) 396 38 (3.5%) Lease expense 287 - 355 - (19.2%) General, administrative and other expenses 307 381 350 395 (7.7%) Income/(loss) before income taxes 314 35 335 (13) 8.4% ($B) 2026 2025 YoY Total assets as of 3/31 $ 55 $ 8 $ 60 $ 10 (8.7%) Q1 2026 Q1 20251 YoY Residential mortgages $ 4.0 $ 4.4 (9.1%) Home equity loans and lines of credit 1.7 2.0 (15.0%) Auto loans 43.5 44.6 (2.5%) Personal unsecured loans 0.5 1.7 (70.6)% Total consumer loans3 49.7 52.7 (5.7%) Total consumer deposits $ 58.2 $ 52.0 11.9% $43,496 $44,623 $44,113 $46,371 $50,182 $8,533 $8,293 $8,043 $7,911 $8,048 $52,029 $52,916 $52,156 $54,282 $58,230 1Q25 2Q25 3Q25 4Q25 1Q26 IBD deposits NIBD deposits +11.9% 16% 17% 11% 9% 9% 7% 7% 6% 6% 7% 6% 53% 51% 51% 41% 38% 38% 35% 34% 33% 36% 37% 17% 17% 18% 16% 16% 16% 17% 18% 19% 19% 19% 14% 15% 21% 34% 38% 39% 41% 42% 42% 38% 38% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q1'26 >=640 600-639 <600 No FICO Loans & Deposits ($B) Auto Distribution by FICO® Segment2 Total Consumer Deposits ($B)20 Income Statement Data Commercial Activities | CRE, Multifamily, and C&I Loans & Deposits ($B) CRE Portfolio and Geographic Diversification Portfolio by Maturity and Interest Rate Type ($B) 1 | Prior period data has been recast. 2 | Ending balance loans and leases HFI. Q1 2026 Q1 20251 YoY CRE loans $ 8.0 $ 8.9 (10.1%) C&I loans 7.7 8.1 (4.9%) Multifamily loans 9.5 9.8 (3.1%) Other commercial 8.4 7.6 10.5% Total commercial loans2 33.6 34.4 (2.3%) Total commercial deposits $ 13.4 $ 13.5 (0.7%) $- $2 $4 $6 In One Year or Less One to Five Years Five+ Years Fixed Rate CRE Fixed Rate Multifamily Variable Rate CRE Variable Rate Multifamily Multifamily 54% Multifamily Construction 23% Office 9% Retail 5% Industrial 5% Other 4% NY 28% NJ 12% FL 9%TX 9% Other 42% Q1 2026 Q1 20251 Total Commercial Activities YoY($M) C&I CRE C&I CRE Interest income $ 189 $ 332 $ 227 $ 353 (10.2%) Interest expense 114 216 138 237 (12.0%) Fees and other income 21 16 17 19 - Credit loss expense/(benefit) (6) 16 (6) 4 NM General, administrative and other expenses 46 47 49 48 (4.1%) Income/(loss) before income taxes 56 69 63 83 (14.4%) ($B) 2026 2025 YoY Total assets as of 3/31 $ 4 $ 22 $ 4 $ 23 (2.7%)21 CIB Income Statement Data CIB & Wealth Management Wealth Income Statement Data 1 | Prior period data has been recast. ($M) Q1 2026 Q1 20251 YoY Interest income $ 634 $ 713 (10.9%) Interest expense 532 661 (19.5%) Fees and other income 210 192 9.4% Credit loss expense/(benefit) 2 (5) NM General, administrative and other expenses 237 230 3.0% Income/(loss) before income taxes 73 19 284.2% ($B) 2026 2025 YoY Total assets as of 3/31 $ 35 $ 30 14.8% Total deposits 2 2 2.5% ($M) Q1 2026 Q1 20251 YoY Interest income $ 78 $ 87 (10.3%) Interest expense 38 37 5.4% Fees and other income 120 94 27.7% General, administrative and other expenses 82 75 9.3% Income/(loss) before income taxes 78 69 13.0% Asset and wealth management fees 110 85 29.4% ($B) 2026 2025 YoY Total assets as of 3/31 $ 9 $ 8 13.6% Total deposits 6 5 2.7%22 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities23 Loan Delinquency by Portfolio Class Consumer | 90+ Days Past Due1 Commercial | 90+ Days Past Due1 Consumer | 30-89 Days Past Due1 Commercial | 30-89 Days Past Due1 1 | Based on a percentage of financing receivables for their respective loan businesses. 2 | Other consumer ($15.6M in Q1 2026) primarily includes recreational vehicle and marine loans. 3 | Other commercial ($8.4B in Q1 2026) includes commercial equipment vehicle financing leveraged leases and loans. 0.0% 0.5% 1.0% 1.5% 2.0% CRE C&I Multifamily Other Commercial ³ 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% CRE C&I Multifamily Other Commercial ³ 0.0% 2.5% 5.0% 7.5% 10.0% 12.5% 15.0% Residential Mortgage Home Equity Auto Loans Personal Unsecured Other Consumer ² 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% Residential Mortgage Home Equity Auto Loans Personal Unsecured Other Consumer ²24 Consumer NCO levels are marginally higher than prior year, reflecting continued consumer resilience, despite higher delinquencies, as well as strong recoveries. Consumer NCOs are lower versus prior quarter, consistent with seasonal trends. Charge-offs and Recoveries by Portfolio Segment Net charge-offs1 Recoveries3 Q1 2026 Recap Charge-offs1,2 1 | Charge-offs and NCOs are based on a percentage of their respective average loan balances. 2 | Includes current period gross write-offs for Q1 2026 by portfolio segment. 3 | Recoveries are based on a percentage of gross charge-offs. 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% Commercial Consumer 0% 20% 40% 60% 80% 100% 120% Commercial Consumer 0.0% 0.3% 0.6% 0.9% 1.2% 1.5% 1.8% Commercial Consumer25 Santander1 A1/Baa1 SHUSA Baa2 SBNA2 Baa1 Santander1 A+/A- SHUSA BBB+ SBNA A- Stable outlook (May 17, 2026) In May 2026, Fitch upgraded SBNA’s senior unsecured debt ratings from ‘A-’ to ‘A’, and affirmed SHUSA’s senior unsecured debt ratings at ‘A-’ S&P and Moody’s affirmed SHUSA’s senior unsecured debt ratings in July 2025 and February 2026, respectively In October 2025, Moody's upgraded Santander’s1 senior preferred debt rating from ‘A2’ to ‘A1’ and in April 2026 Moody’s affirmed Santander’s ratings after taking CMDI related rating actions on EU banks Outlook remains “stable” for all ratings and entities SR. DEBT RATINGS BY SANTANDER ENTITY Santander1 A+/A SHUSA A- SBNA A Stable outlook (February 6, 2026) Stable outlook (July 23, 2025) Rating Agencies 1 | Senior preferred debt / senior non-preferred debt for Santander. 2 | SBNA long-term issuer rating.26 SHUSA | Quarterly Trended Statement Of Operations ($M) Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Interest income $ 2,890 $ 2,985 $ 3,133 $ 3,182 $ 3,137 Interest expense (1,395) (1,490) (1,614) (1,701) (1,679) Net interest income 1,495 1,495 1,519 1,481 1,458 Fees & other income 778 818 821 849 838 Other non-interest income 26 40 53 22 40 Net revenue 2,299 2,353 2,393 2,352 2,336 General, administrative, and other expenses (1,385) (1,487) (1,479) (1,444) (1,527) Credit losses expense/(benefit) (431) (489) (368) (373) (426) Income before taxes 483 377 546 535 383 Income tax (expense)/benefit (69) (52) (90) (37) (17) Net income / (loss) 414 325 456 498 366 NIM 4.0% 3.9% 4.0% 3.9% 3.9%27 SHUSA | Non-GAAP Reconciliations – Income Statement Metrics 1 | Represents US GAAP measure. 2 | Represents non-US GAAP measure. ($M) Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 SHUSA Revenue Net interest income1 $ 1,495 $ 1,495 $ 1,519 $ 1,481 $ 1,458 Total non-interest income1 804 858 874 871 878 Lease expense1 (287) (282) (336) (340) (355) Total revenue2 2,012 2,071 2,057 2,012 1,981 SHUSA Non-Interest Income Total non-interest income1 $ 804 $ 858 $ 874 $ 871 $ 878 Lease expense1 (287) (282) (336) (340) (355) Non-interest income2 517 576 538 531 523 Net Lease Income Lease income1 $ 321 $ 351 $ 395 $ 419 $ 466 Lease expense1 (287) (282) (336) (340) (355) Net lease income2 34 69 59 79 111 SHUSA G&A and Other Total general, administrative & other expenses1 $ 1,385 $ 1,487 $ 1,479 $ 1,444 $ 1,527 Lease expense1 (287) (282) (336) (340) (355) General, administrative & other (excl. lease)2 1,098 1,205 1,143 1,104 1,17228 SHUSA | Non-GAAP Reconciliations – Capital Metrics ($M) Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 CET1 to risk-weighted assets CET1 capital $ 13,862 $ 13,500 $ 14,584 $ 14,173 $ 13,751 Risk-weighted assets 106,804 107,408 110,787 110,393 110,211 Ratio 13.0% 12.6% 13.2% 12.8% 12.5% Tier 1 leverage Tier 1 capital $ 15,862 $ 15,500 $ 16,584 $ 16,173 $ 15,751 Avg total assets, leverage capital purposes 169,594 168,713 170,254 172,553 171,534 Ratio 9.4% 9.2% 9.7% 9.4% 9.2% Tier 1 risk-based Tier 1 capital $ 15,862 $ 15,500 $ 16,584 $ 16,173 $ 15,751 Risk-weighted assets 106,804 107,408 110,787 110,393 110,211 Ratio 14.9% 14.4% 15.0% 14.7% 14.3% Total risk-based Risk-based capital $ 18,133 $ 17,776 $ 18,910 $ 18,501 $ 18,093 Risk-weighted assets 106,804 107,408 110,787 110,393 110,211 Ratio 17.0% 16.5% 17.1% 16.8% 16.4%Thank You. 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1 Confidential March 6, 2026 SANTANDER HOLDINGS USA, INC. Fourth Quarter 2025 Fixed Income Investor Presentation2 Confidential This presentation of Santander Holdings USA, Inc. (“SHUSA”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans and future performance of SHUSA. Words such as “may,” “could,” “should,” “will,” “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “goal” or similar expressions are intended to indicate forward-looking statements. Although SHUSA believes that the expectations reflected in these forward-looking statements are reasonable as of the date on which the statements are made, factors such as the risks and uncertainties described in SHUSA’s filings with the Securities and Exchange Commission from time to time may cause SHUSA’s performance to differ materially from that suggested by the forward-looking statements. If one or more of the factors affecting SHUSA’s forward-looking statements renders those statements incorrect, SHUSA’s actual results, performance or achievements could differ materially from those expressed in or implied by the forward-looking statements. Readers should not consider these factors to be a complete set of all potential risks or uncertainties as new factors emerge from time to time. In this presentation, we may sometimes refer to certain non-GAAP figures or financial ratios to help illustrate certain concepts. These ratios, each of which is defined in this document, if utilized, may include Pre- Tax Pre- Provision Income, the Tangible Common Equity to Tangible Assets Ratio, and the Texas Ratio. This information supplements our results as reported in accordance with generally accepted accounting principles (“GAAP”) and should not be viewed in isolation from, or as a substitute for, our GAAP results. We believe that this additional information and the reconciliations we provide may be useful to investors, analysts, regulators and others as they evaluate the impact of these items on our results for the periods presented due to the extent to which the items are indicative of our ongoing operations. Where applicable, we provide GAAP reconciliations for such additional information. SHUSA’s subsidiaries include Santander Consumer USA Inc. (“SC”), Santander Bank, N.A. (“SBNA”), Banco Santander International (“BSI”), Santander Securities LLC (“SSLLC”), Santander US Capital Markets LLC (“SanCap”), as well as several other subsidiaries. The information in this presentation is intended only to assist investors and does not constitute legal, tax, accounting, financial or investment advice or an offer to invest. In making this presentation available, SHUSA gives no advice and makes no recommendation to buy, sell, or otherwise deal in shares or other securities of Banco Santander, S.A. (“Santander”), SHUSA, SBNA, SC or any other securities or investments. It is not our intention to state, indicate, or imply in any manner that current or past results are indicative of future results or expectations. As with all investments, there are associated risks, and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal, and financial advisors and independently evaluate the risks, consequences, and suitability of that investment. No offering of securities shall be made in the United States except pursuant to registration under the Securities Act of 1933, as amended, or an exemption therefrom. Important Information3 Confidential 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities4 Confidential Santander SHUSA $165B Assets2 ~10,300 employees Our business model focuses on four core segments as we continue to leverage Santander’s connectivity Core Segments and 2025 Assets ($B) Consumer Market-leading full spectrum auto lender and Consumer & Business Banking (“CBB”) $64 Commercial Leading multifamily bank lender and proven servicer $26 Corporate & Investment Banking (CIB) Global hub for capital markets and investment banking $32 Wealth Management Leading brand in LatAm for high- net-worth (“HNW”) clients $601 SC & Openbank operate in all 50 states SBNA Products include: • C&I4 • CRE5 • Auto • Openbank SANCAP • Fixed-income, real estate, and finance advisory BSI • Manages wealth for HNW clients SC • Leading auto loan originator and top ABS3 issuer SHUSA’s Main Subsidiaries SHUSA is a wholly-owned subsidiary of Santander, one of the most respected banking groups in the world with approximately 180 million customers across Europe, Latin America and the U.S. SHUSA 1 | Represents assets and assets under management, which includes customer deposits, securities, loans and letters of credits. 2 | Includes assets categorized as “other”. 3 | Asset-backed securitization (“ABS”). 4 | Commercial and industrial (“C&I”). 5 | Commercial real estate (“CRE”).5 Confidential SHUSA 2025 Results at a Glance Improved Financial Metrics Stable Credit Strong Capital & Liquidity $6.0B NET INTEREST INCOME (“NII”) Up 6.7% YoY 14.2% 30-89 DAYS AUTO1 DELINQUENCY Up 215bps YoY 12.6% COMMON EQUITY TIER 1 (“CET1”) $1.6B NET INCOME Up 52.7% YoY 2.5% NCO RATE2 Flat YoY 24.7% TOTAL LOSS-ABSORBING CAPACITY (“TLAC”) RATIO 3.9% NET INTEREST MARGIN (“NIM”) Up 13bps YoY 7.3% ALLOWANCE RATIO3 Down 27bps YoY $79B SHUSA DEPOSITS Up 1.1% YoY (Growth in customer deposits reduces reliance on brokered products) 1 | Consumer auto only. 2 | Total yearly net charge-offs (“NCOs”) / average balance of financing receivables (Consumer + Commercial). 3 | Using total loans held-for-investment.6 Confidential 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities7 Confidential Re ve nu e1 Sustainable NII growth driven by funding efficiency and benefits associated with growth in Openbank deposits Ongoing growth in capital-light fee income supported by performance in Consumer, Commercial, and Wealth segments G& A Ex pe ns es 2 Disciplined cost management continues to support strategic investments in our core businesses while driving operating leverage Cr ed it Lo ss Ex pe ns e Credit performance is stable as charge-offs remain subdued despite normalizing delinquencies, reflecting resilient consumer behavior and strong underwriting Disciplined balance sheet positioning and risk management practices underpin sustained performance across diverse economic conditions Ne t In co m e Continued execution of our strategic agenda supported by disciplined cost management and strong credit quality is accelerating performance across our key businesses and producing double-digit net income growth Annual Profitability 1 | Net of lease expense. Please refer to slide 33 for a detailed reconciliation of all non-GAAP measures. 2 | General, Administrative & Other, “G&A” excludes lease expense. Please refer to slide 33 for a detailed reconciliation of non-GAAP measures. SHUSA NII ($M) $4,402 $4,566 $4,624 2023 2024 2025 $2,226 $1,937 $1,656 2023 2024 2025 $933 $1,077 $1,645 2023 2024 2025 $7,415 $7,474 $8,121 2023 2024 2025 +1% +9% -15% +53%8 Confidential Positive YoY performance of NII and NIM sustained by: Disciplined Auto pricing strategy underpinning portfolio margin expansion Higher contribution from investment securities and liquidity balances Organic Openbank deposit expansion improving funding efficiency NII Securities FF1 sold & repos Interest-earning deposits Loans Borrowings Trading liabilities FF1 purchased & repos Deposits SHUSA NII ($M) NII & NIM Drivers Net Interest Income & Net Interest Margin 1 | Federal funds. $5,875 $5,578 $5,953 +7% 8,270 8,580 8,357 774 910 920 2,415 2,787 1,679 895 1,189 1,481 1,544 2,059 1,880 2,739 3,283 2,210 142 170 151 2,054 2,376 2,243 $12,354 $6,479 $13,466 $7,888 $12,437 $6,484 Int. Income Int. Expense Int. Income Int. Expense Int. Income Int. Expense 2023 2024 20252 24 2025 NIM 4.0% 3.8% 3.9%9 Confidential Securities gains, net Miscellaneous income, net Capital market revenue Net lease income1 Consumer and commercial fees 349 416 487 538 470 318 196 409 494 312 377 714 145 224 155 $1,540 $1,896 $2,168 2023 2024 2025 Non-Interest Income Non-interest income increased YoY driven by: Growth in capital-light fee income driven by servicing for others in Auto, Multi-family servicing, and Wealth Management fees Increased capital market revenue driven by higher investment banking income Miscellaneous income reflects a fair value adjustment on our interest in the U.K. Limited Partnership2. Prior year was impacted by strategic activities within CBB3 Offset by lower net lease income due to lower active lease units Non-Interest Income ($M) Non-Interest Income Drivers +14% 1 | Includes lease income net of lease expense. Please refer to slide 28 for a detailed reconciliation of all non-GAAP measures. 2 | For additional information regarding the U.K. Limited Partnership, refer to Note 1 “Description of Business, Basis of Presentation and Accounting Policies” in the Company’s Form 10-K for the fiscal year ended December 31, 2025. 3 | During Q3 2024, the Company sold ~$1.3B of personal unsecured loans to a third party. The transaction resulted in a loss on sale of ~$106.8M, offset by a release of the allowance for credit losses (“ACL”) in the amount of ~$101.8M.10 Confidential 2,065 2,145 2,138 667 653 726 729 797 868 357 334 355 584 637 537 $4,402 $4,566 $4,624 2023 2024 2025 Other expense Loan Technology2 Occupancy and equipment Compensation and benefits General, Administrative, & Other Expenses1 G&A and other expenses (excluding lease expense) up modestly YoY driven by: Targeted investments in growth initiatives including the build-out of our Openbank digital platform and CIB capabilities Offset by disciplined execution of transformation and cost-efficiency programs Expenses ($M) Expense Drivers 1 | Excludes lease expense. Please refer to slide 33 for a detailed reconciliation of all non-GAAP measures. 2 | Includes outside services and marketing. +1%11 Confidential Strong credit performance YoY driven by: Improved NCOs supported by: Consumer resilience continues despite delinquency metrics reverting toward historical levels Elevated recoveries benefiting from favorable used vehicle pricing Release in ACL resulting from loan sales in personal unsecured, Auto, and Commercial portfolios Credit Loss Expense Total Allowance for Credit Losses ($M) Expense Drivers 2023 2024 2025 ALLL1, beginning of period ("BOP") $ 6,8352 $ 6,932 $ 6,562 Credit loss expense 2,251 1,950 1,651 Net charge-offs (2,154) (2,320) (2,214) ALLL, end of period ("EOP") 6,932 6,562 5,999 Reserve for unfunded lending commitments, BOP 86 61 48 Credit loss (benefit) unfunded lending commitments, EOP (25) (13) 5 Reserve for unfunded lending commitments, EOP 61 48 53 Total ACL, EOP $ 6,993 $ 6,610 $ 6,052 1 | Allowance for loan and lease losses (“ALLL”). 2 | ALLL BOP includes day 1 adjustment to allowance for adoption of ASU 2022-02. 3 | Includes credit loss (benefit) on unfunded lending commitments. Net Charge-offs ($M) -5% Credit Loss / (Benefit) Expense3 ($M) -15% $2,154 $2,320 $2,214 2023 2024 2025 $2,226 $1,937 $1,656 2023 2024 202512 Confidential 87 83 29 39 19 14 18 21 12 8 $165 $165 2024 2025 Loans and leases down 7.0% YoY, driven by lower auto originations, off-balance sheet securitizations, and portfolio sales Total loan yields were flat YoY primarily due to increases in Auto, reflecting our strategic focus on pricing profitability over growth, offset by decreases in other Consumer and Commercial 2025 Recap ($B) Balance Sheet Trends | Assets Assets ($B) Yield on Loans ($B) Loans & Leases ($B) LHFS1 Other Residential Leases C&I and Other Commercial CRE and Multifamily Auto Leases Other Assets2 Cash Investments Gross Loans 5.3% 13.6% 12.4% 9.5% 0% 5% 10% 15% 2019 2020 2021 2022 2023 2024 2025 Total commercial Auto Total consumer Total loans 44 43 18 18 16 16 12 8 7 6 2 1 1 1 $100 $93 2024 2025 1 | Loans held-for-sale (“LHFS”). 2 | Other assets includes securities purchased under repurchase agreements, LHFS, and restricted cash.13 Confidential 2.4% 2.6% 2.1% 2023 2024 2025 25 27 21 15 15 14 12 12 5 11 $78 $79 2024 2025 63 65 44 37 25 31 18 18 15 14 $165 $165 2024 2025 IBD5 Deposits Balance Sheet Trends | Liabilities Deposits ($B) Cost of Deposits ($B) Liabilities & Equity ($B) Deposits by Business Consumer 69% Commercial 18% CIB 4% Wealth Management 7% Other4 2% NIBD1 Equity Other Liabilities2 Borrowed Funds IB3 Deposits Savings NIBD1 CDs6 Money Market 1 | Noninterest-bearing demand ("NIBD") deposits. 2 | Other liabilities include securities sold under repurchase agreements and trading liabilities. 3 | Interest-bearing (“IB”) deposits. 4 | Other consists of deposits related to certain of SHUSA’s immaterial subsidiaries and corporate treasury deposits. 5 | Interest-bearing demand (“IBD”) deposits. 6 | Certificates of deposit (“CDs”). -55bps14 Confidential Cash at Federal Reserve Capacity at FHLB Discount window Liquidity from unencumbered securities (5% haircut) Liquidity from released govt. deposit collateral5 44.2 27.3 Liquidity & Wholesale Funding Cash and Immediately Available Sources of Liquidity Uninsured Deposits 2024 2025 SBNA Insured Deposits 64% 64% 2025 Ratio: 162% 14.6 12.3 2.2 5.3 9.8 SBNA Contingent Liquidity ($B)Borrowed Funds Profile | Balance ($B) 2024 2025 YoY SHUSA Unsecured Debt1 $ 13.7 $ 13.5 1% FHLB3 4.7 0.7 (85%) Credit-Linked Notes ("CLNs") 1.2 0.9 (25%) Third-Party Secured Funding4 4.0 2.2 (45%) Amortizing Notes 1.9 1.2 (37%) Securitizations 18.5 18.6 1% Total SHUSA Funding 44.0 37.1 (16%) Preferred Equity Issuance to Santander $ 2.0 $ 2.0 - 1 | Includes subordinated notes; includes BSI unsecured debt and $850M of notes payable to Santander. 2 | These notes are payable to SHUSA’s parent company, Santander. 3 | Federal Home Loan Bank (“FHLB”) borrowings. 4 | The warehouse lines and repurchase facilities are fully collateralized by a designated portion of SHUSA’s retail installment contracts (“RICs”), leased. Includes $2B warehouse line with Santander NY Branch. 5 | Includes high quality liquid assets that are encumbered as collateral for uninsured government deposits.15 Confidential $0.50 6.57% $0.75 6.89% $1.00 6.50% $0.50 7.66% $1.00 9.38% $0.85 SOFR +57bps $0.50 6.12% $0.40 SOFR +161 $1.00 6.17% $0.75 5.74% $0.50 8.41% $0.95 3.24% $1.05 4.40% $1.00 2.49% $0.85 5.47% $1.00 5.35% $0.50 2.88% $0.50 7.18% $0.75 6.34% $0.50 8.17% $1.80 $2.30 $1.00 $2.75 $2.00 $1.75 $0.50 $0.75 $2.00 2026 2027 2028 2029 2030 2031 2032 2035 Perpetual Public issuance Private placement Internal TLAC Debt & TLAC 1 | SHUSA must hold the higher of 18% of its risk-weighted assets (“RWAs”) or 9% of its total consolidated assets in the form of TLAC, of which 6% of its RWAs or 3.5% of total consolidated assets must consist of LTD. In addition, SHUSA must maintain a TLAC buffer composed solely of CET1 capital and will be subject to restrictions on capital distributions and discretionary bonus payments based on the size of the TLAC buffer it maintains. SHUSA is SEC-registered and issues under the ticker symbol “SANUSA”, with ratings for SHUSA of A-(Fitch)/Baa2(Moody’s)/BBB+(S&P) SHUSA meets the Federal Reserve’s TLAC and long-term debt (“LTD”) requirements1, with 24.7% TLAC, 9.2% eligible LTD and a CET1 ratio of 12.6% SHUSA Debt Maturity Schedule ($B)16 Confidential On June 27, 2025, the Federal Reserve informed SHUSA of its updated stress capital buffer (“SCB”) requirement, which became effective on October 1, 2025. SHUSA’s updated SCB is 3.4% of its CET1, resulting in an overall CET1 capital requirement of 7.9%. Capital Ratios 1 | Under capital rules, SHUSA is not required to include negative accumulated other comprehensive income (“AOCI”) in regulatory capital, but as a subsidiary of a global systemically important bank (“GSIB”) we manage AOCI closely as it impacts regulatory capital at the global consolidated level. 2 | Estimate considering the full liquidation value of available-for-sale (“AFS”) and held-to-maturity (“HTM”) securities, net of statutory tax (26%). CET11 Tier 1 Leverage Ratio1 Tier 1 Risk-Based Capital Ratio1 Total Risk-Based Capital Ratio1 9.3% 9.2% 2024 2025 14.7% 14.4% 2024 2025 16.8% 16.5% 2024 2025 12.7% 12.6% 11.0% 11.4% 2024 2025 CET1 AFS & HTM Marked217 Confidential 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities18 Confidential 1 | Multifamily Construction is reported within “CRE” in the Company’s Form 10-K for the fiscal year ended December 31, 2025. Total Multifamily = $9.60B and total other CRE = $8.13B. 2 | Excludes Commercial Vehicle Financing. 3 | Does not include the acquired 20% interest in a structured limited liability company (the "Structured LLC") for approximately $1.1B. The Structured LLC was established by the FDIC to hold and service a $9B portfolio primarily consisting of New York-based rent-controlled and rent-stabilized multifamily loans retained by the FDIC following a recent bank failure. SBNA classifies its 20 percent interest in the Structured LLC as an AFS debt security. Business Activities Overview In addition to branch-based deposits, CBB attracts customers nationwide through its digital banking platform, Openbank Market-leading full-spectrum auto lender Financing and banking services to corporations with institutional broker dealer, SanCap Equity research reports Investment banking BSI leads in international private banking Servicing LatAm UHNW and HNW individuals Four investment platforms Edge Act corporation Present in Miami, New York, Houston & San Diego Sales & trading US fixed-income market making Structuring and advisory services CRE: Consists primarily of multifamily loans, and robust servicing fee income from FDIC joint venture1,2,3 C&I: Provides services to a range of commercial customers Multifamily 54% Multifamily Construction 23% Office 9% Retail 4% Industrial 5% Other 5% Consumer Commercial Corporate & Investment Banking Wealth Management Auto Relationships Preferred Lending Pass-Through Strategic19 Confidential Consumer Activities | Auto & CBB 1 | Prior period data has been recast. 2 | Auto loans excludes commercial fleet and LHFS. 3 | Ending balance loans and leases held-for-investment (“HFI”). Loans & Deposits ($B) Income Statement Data Total Consumer Deposits ($M) Auto Distribution by FICO® Segment2 20241 2025 Total Consumer Activities YoY($M) Auto CBB Auto CBB Interest income $ 6,414 $ 2,936 $ 6,478 $ 2,947 0.8% Interest expense 2,765 1,467 2,692 1,471 (1.6%) Fees and other income 72 139 136 274 94.3% Lease income 2,179 - 1,631 - (25.1%) Credit loss expense/(benefit) 1,955 18 1,718 (19) (13.9%) Lease expense 1,708 - 1,312 - (23.1%) General, administrative and other expenses 1,345 1,422 1,192 1,559 (0.5%) Income/(loss) before income taxes 892 168 1,331 210 45.4% ($B) 2024 2025 YoY Total assets as of 12/31 $ 60 $ 10 $ 56 $ 8 (8.7%) 20241 2025 YoY Residential mortgages $ 4.4 $ 4.0 (9.1%) Home equity loans and lines of credit 2.1 1.9 (9.5%) Auto loans 44.6 42.7 (4.3%) Personal unsecured loans 1.7 0.5 (70.6)% Total consumer loans3 52.8 49.1 (7.0%) Total consumer deposits $ 49.3 $ 54.3 10.1% 16% 17% 11% 9% 9% 7% 7% 6% 6% 7% 53% 51% 51% 41% 38% 38% 35% 34% 33% 36% 17% 17% 18% 16% 16% 16% 17% 18% 19% 19% 14% 15% 21% 34% 38% 39% 41% 42% 42% 38% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 >=640 600-639 <600 No FICO 8,550 7,911 40,705 46,371 NIBD deposits IBD deposits NIBD deposits IBD deposits 2024 2025 $49,255 +10.2% $54,28220 Confidential Commercial Activities | CRE, Multifamily, and C&I Loans and Deposits ($B) Income Statement Data Portfolio by Maturity and Interest Rate Type ($B) CRE Portfolio and Geographic Diversification 20241 2025 Total Commercial Activities YoY($M) C&I CRE C&I CRE Interest income $ 988 $ 1,535 $ 878 $ 1,442 (8.0%) Interest expense 633 1,035 538 957 (10.4%) Fees and other income 66 76 69 78 3.5% Credit loss expense/(benefit) (66) 70 (20) (14) NM General, administrative and other expenses 190 142 197 148 3.9% Income/(loss) before income taxes 298 365 231 430 (0.3%) ($B) 2024 2025 YoY Total assets as of 12/31 $ 4 $ 23 $ 4 $ 23 (2.3%) 20241 2025 YoY CRE loans $ 8.6 $ 8.1 (5.8%) C&I loans 8.4 7.8 (7.1%) Multifamily loans 9.8 9.6 (2.0%) Other commercial 7.7 8.3 7.8% Total commercial loans2 34.5 33.8 (2.0%) Total commercial deposits $ 13.8 $ 14.3 3.6% 1 | Prior period data has been recast. 2 | Ending balance loans and leases HFI. ALL ~ $17.7B Multifamily 54% Multifamily Construction 23% Office 9% Retail 4% Industrial 5% Other 5% NY 28% NJ 12% FL 9%TX 9% Other 42% $- $1 $2 $3 $4 $5 In One Year or Less One to Five Years Five+ Years Fixed Rate CRE Fixed Rate Multifamily Variable Rate CRE Variable Rate Multifamily21 Confidential CIB & Wealth Management CIB Income Statement Data Wealth Income Statement Data 1 | Prior period data has been recast. ($M) 20241 2025 YoY Interest income $ 3,886 $ 2,879 (25.9%) Interest expense 3,767 2,611 (30.7%) Fees and other income 662 723 9.2% Credit loss expense/(benefit) (38) (6) 84.2% Lease expense 1 1 - General, administrative and other expenses 834 860 (3.2%) Income/(loss) before income taxes (16) 136 NM ($B) 2024 2025 YoY Total assets as of 12/31 $ 25 $ 32 24.8% Total deposits 3 3 (6.1%) ($M) 20241 2025 YoY Interest income $ 369 $ 338 (8.4%) Interest expense 157 158 0.6% Fees and other income 325 562 72.9% General, administrative and other expenses 280 286 1.8% Income/(loss) before income taxes 257 456 77.4% Asset and wealth management fees 289 321 11.1% ($B) 2024 2025 YoY Total assets as of 12/31 $ 8 $ 9 19.0% Total deposits 5 6 9.1%22 Confidential 1 At a glance 2 Results Appendix 4 Index 3 Core Business Activities23 Confidential 2,136 2,093 2,048 261 231 175 577 414 366 307 395 396 514 461 442 693 568 491 40 36 41 620 549 516 $3,281 $1,867 $3,133 $1,614 $2,985 $1,490 Int. Income Int. Expense Int. Income Int. Expense Int. Income Int. Expense Q4 2024 Q3 2025 Q4 2025 NII Securities FF sold & repos Interest-earning deposits Loans Borrowings Trading liabilities FF purchased & repos Deposits SHUSA NII ($M) Quarterly | Net Interest Income & Net Interest Margin -1% +6% Q4 2024 Q3 2025 Q4 2025 NIM 3.8% 4.0% 4.0% $1,414 $1,495$1,51924 Confidential 125 128 123 122 59 69 92 154 109 113 144 235 40 53 40 $492 $538 $576 Q4 2024 Q3 2025 Q4 2025 Quarterly | Non-Interest Income 1 | Includes lease income net of lease expense. Please refer to slide 34 for a detailed reconciliation of all non-GAAP measures. Non-Interest Income ($M) +7% +17% Miscellaneous income, net Capital market revenue Net lease income1 Consumer and commercial fees Securities gains, net25 Confidential 545 534 531 179 168 201 222 203 247 79 102 92 168 136 134 $1193 $1143 $1205 Q4 2024 Q3 2025 Q4 2025 Expenses ($M) +5% +1% Other expense Loan Technology2 Occupancy and equipment Compensation and benefits Quarterly | General, Administrative, & Other Expenses1 1 | Excludes lease expense. Please refer to slide 34 for a detailed reconciliation of all non-GAAP measures. 2 | Includes outside services and marketing.26 Confidential Net Charge-offs ($M) Credit Loss / (Benefit) Expense1 ($M) Credit Loss Expense Total Allowance for Credit Loss (“ACL”) ($M) Q4 2024 Q3 2025 Q4 2025 ALLL, BOP $ 6,561 $ 6,357 $ 6,148 Credit loss expense 618 371 487 Net charge-offs (617) (580) (636) ALLL, EOP 6,562 6,148 5,999 Reserve for unfunded lending commitments, BOP 46 54 51 Credit loss (benefit) unfunded lending commitments, EOP 2 (3) 2 Reserve for unfunded lending commitments, EOP 48 51 53 Total ACL, EOP $ 6,610 $ 6,199 $ 6,052 $617 $547 $451 $580 $636 4Q24 1Q25 2Q25 3Q25 4Q25 $620 $426 $373 $368 $489 4Q24 1Q25 2Q25 3Q25 4Q25 +3% -21% 1 | Includes credit loss (benefit) on unfunded lending commitments.27 Confidential 87 87 85 84 83 29 33 36 38 39 19 21 21 16 14 18 20 20 20 21 12 11 10 10 8 $165 $172 $172 $168 $165 4Q24 1Q25 2Q25 3Q25 4Q25 Balance Sheet Trends | Assets & Liabilities 1 | Other liabilities include securities sold under repurchase agreements and trading liabilities. 2 | Other assets includes securities purchased under repurchase agreements, LHFS, and restricted cash. Assets ($B) Loans & Leases ($B) LHFS Other Residential Leases C&I and Other Commercial CRE and Multifamily Auto Leases Other Assets2 Cash Investments Gross Loans 44 45 43 43 43 18 19 19 18 18 16 16 16 16 $16 12 11 10 10 8 7 6 6 6 62 2 2 1 1 1 1 1 2 1 $100 $100 $97 $96 $93 4Q24 1Q25 2Q25 3Q25 4Q25 Deposits ($B) Liabilities & Equity ($B) 63 65 66 63 65 44 45 42 41 37 25 30 32 32 31 18 18 18 19 18 15 14 14 13 14 $165 $172 $172 $168 $165 4Q24 1Q25 2Q25 3Q25 4Q25 NIBD Equity Other Liabilities1 Borrowed Funds IB Deposits 25 26 27 26 27 21 20 18 16 15 15 14 14 13 14 12 12 12 12 12 5 7 9 9 11 $78 $79 $80 $76 $79 4Q24 1Q25 2Q25 3Q25 4Q25 Savings IBD Deposits NIBD CDs Money Market28 Confidential Loan Delinquency by Portfolio Class Consumer | 90+ Days Past Due1 Commercial | 90+ Days Past Due1 Consumer | 30-89 Days Past Due1 Commercial | 30-89 Days Past Due1 1 | Based on a percentage of financing receivables for their respective loan businesses. 2 | Other consumer ($18.3M in Q4 2025) primarily includes recreational vehicle and marine loans. 3 | Other commercial ($8.2B in Q4 2025) includes commercial equipment vehicle financing leveraged leases and loans. -0.4% 0.1% 0.6% 1.1% 1.6% 2021 2022 2023 2024 2025 CRE C&I Multifamily Other Commercial ³ 0.0% 1.0% 2.0% 3.0% 2021 2022 2023 2024 2025 CRE C&I Multifamily Other Commercial ³ 0.0% 5.0% 10.0% 15.0% 2021 2022 2023 2024 2025 Residential Mortgage Home Equity Auto Loans Personal Unsecured Other Consumer ² 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 2021 2022 2023 2024 2025 Residential Mortgage Home Equity Auto Loans Personal Unsecured Other Consumer ²29 Confidential Consumer NCOs were slightly lower YoY, primarily driven by resilient consumer behavior and recovery tailwinds from a favorable used vehicle market. Charge-offs and Recoveries by Portfolio Segment Net charge-offs1 Recoveries3 2025 Recap Charge-offs1,2 1 | Charge-offs and NCOs are based on a percentage of their respective average loan balances. 2 | Includes current period gross write-offs for Q4 2025 by portfolio segment. 3 | Recoveries are based on a percentage of gross charge-offs. 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 2021 2022 2023 2024 2025 Commercial Consumer 0% 50% 100% 150% 2021 2022 2023 2024 2025 Commercial Consumer 0.0% 0.3% 0.6% 0.9% 1.2% 1.5% 1.8% 2021 2022 2023 2024 2025 Commercial Consumer30 Confidential Santander1 A1/Baa1 SHUSA Baa2 SBNA2 Baa1 Santander1 A+/A- SHUSA BBB+ SBNA A- Stable outlook (May 19, 2025) In May 2025, Fitch affirmed SHUSA’s senior unsecured debt ratings at ‘A-’ rating S&P and Moody’s affirmed SHUSA’s senior unsecured debt ratings in July 2025 and February 2026, respectively In October 2025, Moody's upgraded Santander’s1 senior preferred debt rating from A2 to A1 Outlook remains “stable” for all ratings and entities SR. DEBT RATINGS BY SANTANDER ENTITY Santander1 A+/A SHUSA A- SBNA A- Stable outlook (February 6, 2026) Stable outlook (July 23, 2025) Rating Agencies 1 | Senior preferred debt / senior non-preferred debt for Banco Santander, S.A. 2 | SBNA long-term issuer rating.31 Confidential SHUSA | Quarterly Trended Statement Of Operations ($M) Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Interest income $ 3,281 $ 3,137 $ 3,182 $ 3,133 $ 2,985 Interest expense (1,867) (1,679) (1,701) (1,614) (1,490) Net interest income 1,414 1,458 1,481 1,519 1,495 Fees & other income 826 838 849 821 818 Other non-interest income 40 40 22 53 40 Net revenue 2,280 2,336 2,352 2,393 2,353 General, administrative, and other expenses (1,567) (1,527) (1,444) (1,479) (1,487) Credit losses expense/(benefit) (620) (426) (373) (368) (489) Income before taxes 93 383 535 546 377 Income tax (expense)/benefit 33 (17) (37) (90) (52) Net income / (loss) 126 366 498 456 325 NIM 3.8% 3.9% 3.9% 4.0% 3.9%32 Confidential SHUSA | Annual Trended Statement Of Operations ($M) 2023 2024 2025 Interest income $ 12,355 $ 13,466 $ 12,437 Interest expense (6,480) (7,889) (6,484) Net interest income 5,875 5,577 5,953 Fees & other income 3,320 3,380 3,326 Other non-interest income 145 224 155 Net revenue 9,340 9,181 9,434 General, administrative, and other expenses (6,327) (6,274) (5,936) Credit losses expense/(benefit) (2,226) (1,937) (1,656) Income before taxes 787 970 1,842 Income tax (expense)/benefit 146 107 (196) Net income / (loss) 933 1,077 1,646 NIM 4.0% 3.8% 3.9%33 Confidential SHUSA | Non-GAAP Reconciliations – Income Statement Metrics 1 | Represents US GAAP measure. 2 | Represents non-US GAAP measure. ($M) 2023 2024 2025 SHUSA Revenue Net interest income1 $ 5,875 $ 5,578 $ 5,953 Total non-interest income1 3,465 3,605 3,481 Lease expense1 (1,925) (1,708) (1,313) Total revenue2 7,415 7,474 8,121 SHUSA Non-Interest Income Total non-interest income1 $ 3,465 $ 3,605 $ 3,481 Lease expense1 (1,925) (1,708) (1,313) Non-interest income2 1,540 1,896 2,168 Net Lease Income Lease income1 $ 2,463 $ 2,179 $ 1,631 Lease expense1 (1,925) (1,708) (1,313) Net lease income2 538 470 318 SHUSA G&A and Other Total general, administrative & other expenses1 $ 6,327 $ 6,274 $ 5,936 Lease expense1 (1,925) (1,708) (1,313) General, administrative & other (excl. lease)2 4,402 4,566 4,62334 Confidential SHUSA | Quarterly Non-GAAP Reconciliations – Income Statement Metrics 1 | Represents US GAAP measure. 2 | Represents non-US GAAP measure. ($M) Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 SHUSA Revenue Net interest income1 $ 1,414 $ 1,458 $ 1,481 $ 1,519 $ 1,495 Total non-interest income1 866 878 871 874 858 Lease expense1 (374) (355) (340) (336) (282) Total revenue2 1,906 1,981 2,012 2,057 2,071 SHUSA Non-Interest Income Total non-interest income1 $ 866 $ 878 $ 871 $ 874 $ 858 Lease expense1 (374) (355) (340) (336) (282) Non-interest income2 492 523 531 538 576 Net Lease Income Lease income1 $ 496 $ 466 $ 419 $ 395 $ 351 Lease expense1 (374) (355) (340) (336) (282) Net lease income2 122 111 79 59 69 SHUSA G&A and Other Total general, administrative & other expenses1 $ 1,566 $ 1,527 $ 1,444 $ 1,479 $ 1,487 Lease expense1 (374) (355) (340) (336) (282) General, administrative & other (excl. lease)2 1,193 1,172 1,104 1,143 1,20535 Confidential SHUSA | Non-GAAP Reconciliations – Capital Metrics ($M) 2024 2025 CET1 to risk-weighted assets CET1 capital $ 13,724 $ 13,500 Risk-weighted assets 108,006 107,408 Ratio 12.7% 12.6% Tier 1 leverage Tier 1 capital $ 15,839 $ 15,500 Avg total assets, leverage capital purposes 170,835 168,713 Ratio 9.3% 9.2% Tier 1 risk-based Tier 1 capital $ 15,839 $ 15,500 Risk-weighted assets 108,006 107,408 Ratio 14.7% 14.4% Total risk-based Risk-based capital $ 18,177 $ 17,776 Risk-weighted assets 108,006 107,408 Ratio 16.8% 16.5%Thank You. Our purpose is to help people and businesses prosper. Our culture is based on believing that everything we do should be:
6 Mar
8-K
1 Confidential2 Confidential3 Confidential4 Confidential • • • • • • ••5 Confidential6 Confidential7 Confidential ▪ ▪ ▪ ▪ ▪ ▪8 Confidential ▪ ▪ ▪9 Confidential ▪ ▪ ▪ ▪10 Confidential ▪ ▪ ▪11 Confidential ▪ ▪ ▪ ▪12 Confidential13 Confidential ▪ ▪14 Confidential15 Confidential16 Confidential ▪ ▪17 Confidential18 Confidential19 Confidential ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪20 Confidential21 Confidential22 Confidential23 Confidential24 Confidential25 Confidential ▪26 Confidential ▪ ▪ ▪ ▪27 Confidential28 Confidential29 Confidential
4 Nov 2025
8-K
1• • • • • • ••▪ ▪ ▪ ▪ ▪ ▪▪ ▪ ▪ ▪▪ ▪ ▪ ▪ ▪▪ ▪ ▪▪ ▪▪ ▪▪ ▪▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪▪▪ ▪ ▪
15 Aug 2025
Insider Ownership
(528)
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Form 4
Santander Holdings USA, Inc.
31 Jan 2022
Form 3
Veltre Maria
12 Sep 2018
Form 4
Santander Holdings USA, Inc.
17 Nov 2017
Form 3
Aditya Mahesh
17 May 2017
Form 3
Cornish David L
12 May 2017
Form 3
Rousseau Henri-Paul Griffiths
16 Mar 2017
Form 3
DONCEL RAZOLA JOSE
7 Jul 2016
Form 3
Griffiths Daniel
21 Jun 2016
Form 3
Wolf William John
29 Apr 2016
Form 3
Dayal Madhukar
15 Apr 2016
Form 3
Lipsitz Michael
2 Sep 2015
Form 3
Olaizola Juan
2 Sep 2015
Form 3
Goldman Kenneth Michael
2 Sep 2015
Form 3
Matarranz Victor
6 Aug 2015
Form 3
Sulpizio Christel
5 Aug 2015
Beneficial Ownership
(42)
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SC 13D/A
Santander Consumer USA Holdings Inc.
31 Jan 2022
SC 13G
Santander Consumer USA Holdings Inc.
14 Feb 2017
SC 13G
Santander Consumer USA Holdings Inc.
12 Feb 2016
SC 13G
Santander Consumer USA Holdings Inc.
17 Feb 2015
SC 13G/A
SOVEREIGN BANCORP INC
17 Feb 2009
SC 13G/A
SOVEREIGN BANCORP INC
16 Jan 2009
SC 13D/A
SOVEREIGN BANCORP INC
25 Nov 2008
SC 13D/A
SOVEREIGN BANCORP INC
25 Nov 2008
SC 13D/A
SOVEREIGN BANCORP INC
15 Oct 2008
SC 13D/A
SOVEREIGN BANCORP INC
14 Oct 2008
SC 13G
SOVEREIGN BANCORP INC
31 Jul 2008
SC 13D/A
SOVEREIGN BANCORP INC
25 Jul 2008
SC 13G
SOVEREIGN BANCORP INC
11 Jul 2008
SC 13D/A
SOVEREIGN BANCORP INC
30 May 2008
SC 13D/A
SOVEREIGN BANCORP INC
20 May 2008
Other Ownership
(31)
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13F-NT
Notice of non-filing (institutional investment manager holdings)
9 Feb 2022
13F-NT
Notice of non-filing (institutional investment manager holdings)
8 Nov 2021
13F-NT
Notice of non-filing (institutional investment manager holdings)
29 Jul 2021
13F-NT
Notice of non-filing (institutional investment manager holdings)
10 May 2021
13F-NT
Notice of non-filing (institutional investment manager holdings)
12 Feb 2021
13F-NT
Notice of non-filing (institutional investment manager holdings)
9 Nov 2020
13F-NT
Notice of non-filing (institutional investment manager holdings)
5 Aug 2020
13F-NT
Notice of non-filing (institutional investment manager holdings)
11 May 2020
13F-NT
Notice of non-filing (institutional investment manager holdings)
7 Feb 2020
13F-NT
Notice of non-filing (institutional investment manager holdings)
6 Nov 2019
13F-NT
Notice of non-filing (institutional investment manager holdings)
7 Aug 2019
13F-NT
Notice of non-filing (institutional investment manager holdings)
13 May 2019
13F-NT
Notice of non-filing (institutional investment manager holdings)
12 Feb 2019
13F-NT
Notice of non-filing (institutional investment manager holdings)
13 Nov 2018
13F-NT
Notice of non-filing (institutional investment manager holdings)
14 Aug 2018
Proxies
(97)
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DEFM14A
DEFINITIVE PROXY STATEMENT
22 Dec 2008
DEF 14A
Definitive proxy statement
24 Mar 2008
DEF 14A
Definitive proxy statement
3 Apr 2007
PRE 14A
PRELIMINARY PROXY STATEMENT
14 Mar 2007
PX14A6G
Notice of exempt solicitation
8 Sep 2006
DEF 14A
NOTICE OF ANNUAL MEETING OF SHAREHOLDERS
5 Sep 2006
PRE 14A
NOTICE OF ANNUAL MEETING OF SHAREHOLDERS
23 Aug 2006
ARS
AUTO-GENERATED PAPER DOCUMENT
25 Apr 2006
DFAN14A
DEFINITIVE ADDITIONAL PROXY SOLICITING MATERIALS FILED BY NON-MANAGEMENT
24 Mar 2006
DEFA14A
Definitive additional materials
24 Mar 2006
DFAN14A
DEFINITIVE ADDITIONAL PROXY SOLICITING MATERIALS FILED BY NON-MANAGEMENT
23 Mar 2006
DFAN14A
DEFINITIVE ADDITIONAL PROXY SOLICITING MATERIALS FILED BY NON-MANAGEMENT
17 Mar 2006
DEFA14A
Definitive additional materials
10 Mar 2006
DEFA14A
Definitive additional materials
10 Mar 2006
DFAN14A
DEFINITIVE ADDITIONAL PROXY SOLICITING MATERIALS FILED BY NON-MANAGEMENT
10 Mar 2006
Registrations
(230)
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15-12G
Notice of suspension of duty to file
26 Oct
25-NSE
Notification of removal from listing
15 Oct
8-A12B
Registration of securities (Section 12(b))
19 Aug
424B3
Prospectus filing (Rule 424(b)(3))
4 Jun
FWP
Free writing prospectus
2 Jun
424B3
Prospectus filing (Rule 424(b)(3))
2 Jun
Form 425
Business combination communication
31 Mar
424B3
Prospectus filing (Rule 424(b)(3))
19 Mar 2025
FWP
Free writing prospectus
18 Mar 2025
424B3
Prospectus filing (Rule 424(b)(3))
17 Mar 2025
424B3
Prospectus filing (Rule 424(b)(3))
5 Sep 2024
FWP
Free writing prospectus
4 Sep 2024
424B3
Prospectus filing (Rule 424(b)(3))
3 Sep 2024
424B3
Prospectus filing (Rule 424(b)(3))
30 May 2024
FWP
Free writing prospectus
29 May 2024
Filing Review Correspondence
(31)
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CORRESP
Filing review correspondence
2 Jan 2020
CORRESP
Filing review correspondence
27 Dec 2019
CORRESP
Filing review correspondence
29 Jan 2018
CORRESP
Filing review correspondence
23 Jan 2018
CORRESP
Filing review correspondence
11 Jan 2018
CORRESP
Filing review correspondence
11 Jan 2018
CORRESP
Filing review correspondence
4 May 2016
CORRESP
Filing review correspondence
18 Dec 2015
CORRESP
Filing review correspondence
2 Dec 2015
CORRESP
Filing review correspondence
26 Aug 2015
UPLOAD
Filing review upload
10 Apr 2009
UPLOAD
Filing review upload
2 Apr 2009
UPLOAD
Filing review upload
18 Aug 2006
CORRESP
Filing review correspondence
31 Jul 2006
CORRESP
Filing review correspondence
14 Jun 2006
SEC Orders And Notices
(6)
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EFFECT
Notice of effectiveness
6 Jan 2020
EFFECT
Notice of effectiveness
25 Jan 2018
EFFECT
Notice of effectiveness
18 Jul 2012
EFFECT
Notice of effectiveness
23 Mar 2011
EFFECT
Notice of effectiveness
5 Jun 2007
EFFECT
Notice of effectiveness
12 Jan 2007
Tender Offers And Going Private
(18)
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SC TO-T/A
Tender offer statement (third-party, amendment)
28 Jan 2022
SC TO-T/A
Tender offer statement (third-party, amendment)
21 Jan 2022
SC TO-T/A
Tender offer statement (third-party, amendment)
13 Jan 2022
SC TO-T/A
Tender offer statement (third-party, amendment)
6 Jan 2022
SC TO-T/A
Tender offer statement (third-party, amendment)
30 Dec 2021
SC TO-T/A
Tender offer statement (third-party, amendment)
27 Dec 2021
SC TO-T/A
Tender offer statement (third-party, amendment)
17 Dec 2021
SC TO-T/A
Tender offer statement (third-party, amendment)
10 Dec 2021
SC TO-T/A
Tender offer statement (third-party, amendment)
3 Dec 2021
SC TO-T/A
Tender offer statement (third-party, amendment)
26 Nov 2021
SC TO-T/A
Tender offer statement (third-party, amendment)
18 Nov 2021
SC TO-T/A
Tender offer statement (third-party, amendment)
10 Nov 2021
SC TO-T/A
Tender offer statement (third-party, amendment)
3 Nov 2021
SC TO-T/A
Tender offer statement (third-party, amendment)
20 Oct 2021
SC TO-T/A
Tender offer statement (third-party, amendment)
5 Oct 2021
Other
(63)
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IRANNOTICE
IRANNOTICE
13 Nov
CERT
CERT
19 Aug
IRANNOTICE
IRANNOTICE
31 Jul
IRANNOTICE
IRANNOTICE
4 May
IRANNOTICE
IRANNOTICE
2 Mar
IRANNOTICE
IRANNOTICE
3 Nov 2025
IRANNOTICE
IRANNOTICE
30 Jul 2025
IRANNOTICE
IRANNOTICE
1 May 2025
IRANNOTICE
IRANNOTICE
3 Mar 2025
IRANNOTICE
IRANNOTICE
6 Nov 2024
IRANNOTICE
IRANNOTICE
1 Aug 2024
IRANNOTICE
IRANNOTICE
6 May 2024
IRANNOTICE
IRANNOTICE
4 Mar 2024
IRANNOTICE
IRANNOTICE
3 Nov 2023
IRANNOTICE
IRANNOTICE
7 Aug 2023
Ask in Filing
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