#1August 5, 2022 SANTANDER HOLDINGS USA, INC. Second Quarter 2022 Fixed Income Investor Presentation Santander#2Important Information 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. 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 Banco Santander International ("BSI"), Santander Investment Securities Inc. ("SIS"), Santander Securities LLC ("SSLLC"), Amherst Pierpont Securities, LLC ("APS"), Santander Financial Services, Inc. ("SFS"), and Santander Asset Management, LLC, as well as several other subsidiaries. Although SHUSA believes that the expectations reflected in these forward-looking statements are reasonable as of the date on which the statements are made, these statements are not guarantees of future performance and involve risks and uncertainties based on various factors and assumptions, many of which are beyond SHUSA's control. Among the factors that could cause SHUSA's financial performance to differ materially from that suggested by forward-looking statements are: (1) the effects of regulation, actions and/or policies of the Board of Governors of the Federal Reserve System ("Federal Reserve"), the Federal Deposit Insurance Corporation (the "FDIC"), the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau, and other changes in monetary and fiscal policies and regulations, including policies that affect market interest rates and money supply as well as in the impact of changes in and interpretations of GAAP, the failure to adhere to which could subject SHUSA and/or its subsidiaries to formal or informal regulatory compliance and enforcement actions and result in fines, penalties, restitution and other costs and expenses, changes in our business practice, and reputational harm; (2) SHUSA's ability to manage credit risk may increase to the extent our loans are concentrated by loan type, industry segment, borrower type or location of the borrower or collateral, and changes in the credit quality of SHUSA's customers and counterparties; (3) adverse economic conditions in the United States and worldwide, including the extent of recessionary conditions in the U.S. related to COVID-19 and the strength of the U.S. economy in general and regional and local economies in which SHUSA conducts operations in particular, which may affect, among other things, the level of non-performing assets, charge-offs, and credit loss expense; (4) inflation, interest rate, market and monetary fluctuations, including effects from the discontinuation of the London Interbank Offered Rate ("LIBOR") as an interest rate benchmark, may, among other things, reduce net interest margins, and impact funding sources, revenue and expenses, the value of assets and obligations, and the ability to originate and distribute financial products in the primary and secondary markets; (5) the adverse impact of COVID-19 on our business, financial condition, liquidity, reputation and results of operations; (6) natural or man-made disasters, including pandemics and other significant public health emergencies, outbreaks of hostilities or effects of climate change, and SHUSA's ability to deal with disruptions caused by such disasters and emergencies; (7) the pursuit of protectionist trade or other related policies, including tariffs and sanctions by the U.S., its global trading partners, and/or other countries, and/or trade disputes generally; (8) adverse movements and volatility in debt and equity capital markets and adverse changes in the securities markets, including those related to the financial condition of significant issuers in SHUSA's investment portfolio; (9) risks SHUSA faces implementing its growth strategy, including SHUSA's ability to grow revenue, manage expenses, attract and retain highly-skilled people and raise capital necessary to achieve its business goals and comply with regulatory requirements; (10) SHUSA's ability to effectively manage its capital and liquidity, including approval of its capital plans by its regulators and its subsidiaries' ability to continue to pay dividends to it; (11) reduction in SHUSA's access to funding or increases in the cost of its funding, such as in connection with changes in credit ratings assigned to SHUSA or its subsidiaries, or a significant reduction in customer deposits; (12) the ability to manage risks inherent in our businesses, including through effective use of systems and controls, insurance, derivatives and capital management; (13) SHUSA's ability to timely develop competitive new products and services in a changing environment that are responsive to the needs of SHUSA's customers and are profitable to SHUSA, the success of our marketing efforts to customers, and the potential for new products and services to impose additional unexpected costs, losses or other liabilities not anticipated at their initiation, and expose SHUSA to increased operational risk; (14) competitors of SHUSA may have greater financial resources or lower costs, or be subject to different regulatory requirements than SHUSA, may innovate more effectively, or may develop products and technology that enable those competitors to compete more successfully than SHUSA and cause SHUSA to lose business or market share and impact our net income adversely; (15) Santander Consumer USA Inc.'s ("SC's") agreement with FCA US LLC ("Stellantis") may not result in currently anticipated levels of growth; (16) changes in customer spending, investment or savings behavior; (17) the ability of SHUSA and its third-party vendors to convert, maintain and upgrade, as necessary, SHUSA's data processing and other information technology infrastructure on a timely and acceptable basis, within projected cost estimates and without significant disruption to our business; (18) SHUSA's ability to control operational risks, data security breach risks and outsourcing risks, and the possibility of errors in quantitative models and software SHUSA uses in its business, including as a result of cyber-attacks, technological failure, human error, fraud or malice by internal or external parties, and the possibility that SHUSA's controls will prove insufficient, fail or be circumvented; (19) changing federal, state, and local tax laws and regulations, which may include tax rates changes that could materially adversely affect our business, including changes to tax laws and regulations and the outcome of ongoing tax audits by federal, state and local income tax authorities that may require SHUSA to pay additional taxes or recover fewer overpayments compared to what has been accrued or paid as of period-end; (20) the costs and effects of regulatory or judicial actions or proceedings, including possible business restrictions resulting from such actions or proceedings; and (21) adverse publicity and negative public opinion, whether specific to SHUSA or regarding other industry participants or industry-wide factors, or other reputational harm; and (22) acts of terrorism or domestic or foreign military conflicts. In this regard, during the first quarter SHUSA assessed its exposure to clients in Russia and Belarus and does not believe it has any significant risk with respect to these clients; and (23) the other factors that are described in Part I, Item IA - Risk Factors of SHUSA's Annual Report on Form 10-K for 2021. Because this information is intended only to assist investors, it does not constitute investment advice or an offer to invest, and 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, Santander Bank, N.A. ("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, evaluate independently 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. Santander 2#3Index 1 2 3 4 At a Glance Summary Results Appendix#4Santander Group Santander is a leading retail and commercial bank headquartered in Spain. It has a meaningful presence in 10 core markets in Europe and the Americas. The United States is a core market for Santander, contributing 18% to 1H 2022 underlying attributable profit, down from record high levels 24% in 1H 2021. 1H 2022 loans & advances to customers¹ Digital Consumer Bank: 12% South America: 15% €1,015B* Total Mexico: 4% USA: 11% Gross Loans Europe: 58% Santander 1 Loans and advances to customers excluding reverse repurchase agreements 2 3 As a % of operating areas. Excludes corporate center. Source: Santander's 1H 2022 earnings presentation Excludes other North America expenses Figures in International Financial Reporting Standards ("IFRS") Contribution to 1H 2022 underlying attributable profit² Digital Consumer Bank: 10% South America: 33% €4.9B* Underlying Attributable Profit Europe: 31% Mexico: 9% 3 USA: 18% 4#5Q2 2022 Highlights In April, SC announced the amendment and extension of its agreement with Stellantis through 2025 In April, SHUSA acquired APS, a market-leading, independent fixed-income broker dealer, enhancing US fixed-income capital markets capabilities Strategy Deposits & Originations In June, SBNA announced the new Chief Consumer and Digital Transformation Officer role which will expand digital capabilities and enhance the experience for customers across the United States In June, San US Auto and Mitsubishi¹ preferred financing partnership commenced Deposits of $74B, down 6% QoQ Auto originations of $8.2B, up 9% QoQ ($2.6B in loans and leases through SBNA) Profitability Credit Performance Q2 profitability impacted by credit performance normalization and increased provisions Net income of $439M and PPNR2 of $950M, down 29% and 5% QoQ, respectively SHUSA paid $1.25B in dividend to Santander Group Credit performance continues to normalize, but remains below pre-pandemic levels Consolidated net charge-off ratio stable QoQ Liquidity Reserves & Capital Demonstrated continued market access during volatility; Issued $2.7B in ABS³, ~$500M prime auto loan credit-linked note ("CLN"), $500M 3nc2 public senior unsecured transaction and $434M of a privately placed 4nc3 senior unsecured transaction Met the Federal Reserve's total loss absorbing capacity ("TLAC") and long-term debt ("LTD") requirements, with 23.5% TLAC, 6.6% eligible LTD Allowance ratio of 7.2%, stable QoQ Common equity Tier 1 ("CET1") ratio of 16.9%, down 160 bps QoQ For the 2022 Supervisory Stress Test, SHUSA's minimum capital ratios under the Federal Reserve Board severely adverse scenario and ranked in the top quartile among participating banks Santander 1 Mitsubishi Motors North America, Inc. 2 Pre-provision net revenue ("PPNR") 3 Asset-backed securities ("ABS"), Q2'22 transactions include one Santander Drive Auto Receivables Trust and one Santander Retail Auto Lease Trust transactions 5#6Index 1 2 3 4 At a Glance Summary Results Appendix#7SHUSA SHUSA is the intermediate holding company ("IHC") for Santander US entities, is SEC-registered and issues under the ticker symbol "SANUSA" 1 SHUSA Highlights* ATN 7 major locations $165B in assets ~15,000 employees 888 ~5M customers SBNA-Retail Bank ~$94B Assets Products include: • • Commercial and industrial ("C&I") Commercial Real Estate ("CRE") • Multi-family Auto and dealer floorplan financing Santander SHUSA² SC operates in all 50 states Company location SC SC Auto Finance BSI - Private Banking SIS - Broker Dealer ~$44B Assets Leading auto loan & lease originator & servicer • #1 retail auto ABS issuer 2021 in US ~$8B Assets . Private wealth management for high net worth ("HNW") and ultra-high net worth clients Santander Data as of June 30, 2022 2 Includes SSLLC, which offers personal investment & financial planning services to clients ~$4B Assets BSI SBNA SIS APS - Broker Dealer ~$15B Assets Market-leading fixed-income broker dealer with capabilities including: • • US fixed-income capital markets market making Self-clearing of fixed-income securities globally Expands the structuring and advisory capabilities for asset originators Investment banking services include: • Global markets • Global transaction banking • Global debt financing • • Corporate finance 7#8SHUSA Overview Strategic focus Q2 2022 YTD Income Assets ($BN) before tax Income before tax ($MM) ($MM) Consumer Market-leading full spectrum auto lender and consumer finance franchise, funded by attractive consumer deposits $75 $522 $1,246 ☐ Commercial Top 10 CRE and Multifamily lender $25 $75 $172 CIB Global hub for capital markets and investment banking CIB $29 $4 $16 فية Wealth Management Leading brand in LatAm HNW leveraging connectivity with Santander $47¹ $48 $84 Santander | Client assets and liabilities represents customer deposits and securities and loans and letters of credit. 8#9Balance Sheet Overview Goodwill and Other Intangibles, 2% Cash, 6% Investments, 14% Other Consumer Loans, 2% Residential, 5% Other Assets, 12% $165B Assets CRE, 10% C&I, 13% Equity, 13% Auto Loans, 27% 2 Auto Leases, 9% Revolving Credit Facilities, 2% Trading Liabilities, 1% Noninterest- bearing Demand, 12% Interest-bearing Demand, 8% Other 3 Liabilities, 15% $144B Liabilities $21B Equity Savings, 3% Other Borrowings, 10% 1 Includes restricted cash and federal funds sold and securities purchased under resale agreements or similar arrangements Santander 2 Operating leases 3 Includes federal funds purchased and securities loaned or sold under repurchase agreements 4 Includes Federal Home Loan Bank ("FHLB") borrowings 5 Certificates of deposit Secured Structured Financing, 15% CDs, 1% Money Market, 20% 9#10Balance Sheet Trends Deposits of $74B, down 9% YoY; loans and leases down 2% YoY LOANS & LEASES ($B) DEPOSITS ($B) * ** Auto $111 ■ C&I Leases ■CRE ■Res. Mtg ■Other $108 $107 $107 $109 Money Market $81 NIB Deposits ■IB Deposits ■Savings ■ CDs $82 $79 $79 3 $74 10 9 16 15 15 15 16 16 15 15 3055 6 9 6 6 6 13 16 13 16 13 14 14 15 25 24 24 23 23 23 22 22 21 24 24 23 22 22 20 21 20 43 43 43 2Q21 3Q21 43 43 33 4Q21 ASSETS ($B) 44 35 1Q22 2Q22 33 33 34 35 2Q21 3Q21 4Q21 32 32 1Q22 2Q22 LIABILITIES & EQUITY ($B) 2 1 Gross Loans $155 Investments ■Leases $159 $156 ■Short-Term Funds Other Assets $165 IB Deposits $155 ■Borrowed Funds $156 NIB Deposits $159 Equity Other Liabilities $165 $154 $154 12 9 11 14 23 8 9 27 13 14 17 19 19 10 23 14 15 16 16 15 15 25 22 24 24 22 21 24 23 22 20 19 24 18 19 19 43 33 44 44 41 41 40 43 33 94 92 92 92 92 92 42 83 93 56 55 55 2Q21 3Q21 4Q21 1Q22 2Q22 Santander 1 Other assets includes securities purchased under repurchase agreements * 2 Other liabilities includes securities sold under repurchase agreements Non-interest-bearing deposits ** Interest-bearing deposits 59 59 557 57 54 2Q21 3Q21 4Q21 1Q22 2Q22 10#11Quarterly Profitability Profitability impacted by credit performance normalization leading to increased provisions, lower leased vehicle income due to shifts in the mix of lease vehicle dispositions and the Safety Net initiative, which reduced client overdraft fees NET INTEREST INCOME ($M) PPNR ($M) $1,532 $1,534 $1,505 $1,480 $1,533 ||||| $1,222 $1,104 $995 $950 $917 2Q21 3Q21 4Q21 1Q22 2Q22 2Q21 PRE-TAX INCOME ($M) $1,539 $1,084 $903 $778 $546 3Q21 4Q21 1Q22 2Q22 NET INCOME ATTRIBUTABLE TO SHUSA 1,2 ($M) $959 $707 $616 $570 $439 2Q21 3Q21 4Q21 1Q22 2Q22 2Q21 3Q21 4Q21 1Q22 2Q22 Santander 12 Net income includes noncontrolling interest ("NCI"). See Appendix for the consolidating income statement. 11 114#12Net Interest Margin & Interest Rate Risk Sensitivity NII increased QoQ, however, Net interest margin ("NIM") declined due to inclusion of APS and associated short term market balances SHUSA NIM 5.0% 4.8% 4.6% 4.5% 4.3% Santander INTEREST RATE RISK SENSITIVITY (Change in annual net interest income for parallel rate movements) Up 100bps 4.7% 4.7% 4.3% 3.6% 2.2% 2Q21 3Q21 4Q21 1Q22 2Q22 -1.7% -2.0% -2.6% -2.6% -3.5% 2Q21 3Q21 4Q21 1Q22 2Q22 Down 100bps 12 12#13Further embedding ESG to build a more responsible bank Environmental: supporting the green transition USD 1.24B share of auto portfolio in plug-in hybrid vehicles Carbon neutral in operations Social: building a more inclusive society USD 501M invested in affordable housing in 2021 USD 14.1B invested through the Inclusive Communities Plan² Governance: doing business the right way Risk Culture focuses on consumer protection, cyber awareness, privacy through 2022 USD 1.9B renewable projects financed Santander ~270+ entrepreneurs participated in Cultivate Small Business program¹ 100% single-use plastics free ~497,243 48% electricity from renewable sources Diversity, Equity and Inclusion framework 24% women in 58% independent directors financially empowered people through 2022 senior positions Note: 2021 data, unless otherwise stated (1) Cultivate Small Business program began in 2017 (2) Inclusive Communities Plan was a public commitment 2017-2021 16.7% women on Board 13#14Index 1 2 3 4 At a Glance Summary Results Appendix#15Auto Originations Q2 auto originations of $8.2B are up 9% QoQ, but down 22% YoY Penetration rate of 25% with Stellantis, down from 34% in Q2 2021 due to lower supply and exclusive incentives YoY Three Months Ended Originations % Variance ($ in Millions) Q2 2022 Q1 2022 Q2 2021 QoQ YOY Total Core Retail Auto $ 3,695 $ 3,193 3,812 16% (3%) Chrysler Capital Loans (<640)1 1,321 1,212 1,597 9% (17%) Chrysler Capital Loans (≥640)1 1,455 1,365 3,021 7% (52%) Total Chrysler Capital Retail 2,776 2,577 4,618 8% (41%) Total Leases² 1,701 1,744 2,070 (2%) (18%) Total Auto Originations³ E 8,171 $ 7,514 $ 10,500 9% (22%) 1 Approximate FICO scores Santander 2 Includes nominal capital lease originations 3 Includes SBNA loan originations of $1.2 billion and lease originations of $1.4 billion for Q2 2022 15#16Asset Quality NCO and NPL ratios continue to normalize but remain below pre-pandemic levels Santander NET CHARGE-OFF RATIO NONPERFORMING LOAN ("NPL") RATIO 1.2% 2.1% 1.2% 2.0% 1.9% 1.8% 0.8% 1.6% 0.6% 0.5% 2Q21 3Q21 4Q21 1Q22 2Q22 2Q21 3Q21 4Q21 1Q22 2Q22 ALLOWANCE COVERAGE (ACL/LHFI) RESERVE COVERAGE (ALLL/NPL) 461.4% 7.5% 7.5% 7.1% 7.1% 7.2% 380.9% 394.8% 340.5% 350.4% 2Q21 3Q21 4Q21 1Q22 2Q22 2Q21 3Q21 4Q21 1Q22 2Q22 16#17Allowance For Credit Losses ("ACL") Allowance ratio stable QoQ June 30, December 31, June 30, Allowance Ratios 2022 (Dollars in Millions) (Unaudited) 2021 (Audited) 2021 (Unaudited) Total loans held for investment ("LHFI") $92,762 $92,076 $93,131 Total ACL1 $6,641 $6,566 $7,014 Total Allowance Ratio 7.2% 7.1% 7.5% Under the Federal Reserve's April 2022 stress test (Severely Adverse Scenario): Q2 2022 ending ACL represents ~69% of stress test losses SHUSA's stressed capital ratio² of 18.7% ranked in the top quartile among participating banks PPNR³ of $7.3B (4.6% of average assets) ranked in the top quartile among participating banks Santander Includes ACL for unfunded commitments 2 Projected minimum CET1 ratio (minimum and ending) under the severely adverse scenario over the nine-quarter projection horizon, 2022:Q1-2024:Q1 Projected PPNR under the severely adverse scenario through the nine-quarter projection horizon, 2022:Q1-2024:Q1 17#18Borrowed Funds Profile Total funding of $43B in Q2, up 7% QoQ Increased in FHLB advances QoQ driven by deposit decrease Third-party secured funding increasing as public securitization size normalize Total Funding ($ in billions) Santander 2Q22 1Q22 2Q21 QoQ (%) YoY (%) Senior Unsecured Debt 10.4 9.9 10.1 4.9 2.6 FHLB & CLN 3.5 0.5 0.9 583.2 308.1 Third-Party Secured Funding 3.3 0.0 0.8 32818.0 332.5 Amortizing Notes 2.0 2.6 5.2 (23.7) (61.9) Securitizations 22.0 23.2 22.0 (5.2) (0.0) Intragroup 2.0 4.0 4.0 (50.0) (50.0) Total SHUSA Funding 43.2 40.2 42.9 7.3 0.5 18#19Debt & Total Loss-Absorbing Capacity 1 As of Q2 2022, SHUSA met the Federal Reserve's TLAC and LTD requirements with 23.5% TLAC, 6.6% eligible LTD and a CET1 ratio of 16.9% In January 2022, SHUSA issued a $1.0B, 6nc5 Senior Unsecured transaction at 2.49% In April 2022, privately placed $434M of senior notes at SOFR +135bps In June 2022, public issuance of $500M of senior notes at 4.26% Debt Maturity Schedule² ($ In billions) $2.2 $2.6 $1.0 3.45% $1.8 $1.0 3.40% $1.4 $0.8 2.88% $1.0 $1.1 $1.0 4.50% $1.0 3.24% $1.2 3ML+110bps $0.5 $1.0 3.50% 4.40% 2.49% $0.5 4.26% $0.4 SOFR+135bps 2.88% 2023 2024 2025 2026 2027 2028 2031 Public issuance Internal TLAC Private placement Santander 1 SHUSA's requirement is 20.5% for TLAC and 6.0% for LTD as a percentage of risk weighted assets 2 Senior debt issuance. Data as of June 30, 2022 3-Month LIBOR 19 19#20Capital Ratios CET1 decreased 160bps QoQ due to the SHUSA dividend of $1.25B paid to BSSA and the acquisition of APS CET1 18.8% 18.4% 18.5% 17.6% 16.9% TIER 1 LEVERAGE RATIO 14.8% 14.9% 15.0% 13.6% 11.8% 2Q21 3Q21 4Q21 1Q22 2Q22 2Q21 3Q21 4Q21 1Q22 2Q22 TIER 1 RISK-BASED CAPITAL RATIO TOTAL RISK-BASED CAPITAL RATIO 20.7% 22.7% 20.2% 21.6% 19.3% 20.7% 20.6% 18.8% 18.9% 17.2% 2Q21 3Q21 4Q21 1Q22 2Q22 2Q21 3Q21 4Q21 1Q22 2Q22 Santander 20 20#21Rating Agencies SHUSA and SBNA ratings outlook remained "stable" SR. DEBT RATINGS BY SANTANDER ENTITY Fitch Ratings Stable outlook (June 14, 2022) Santander1 A/A- SHUSA BBB+ SBNA BBB+ Santander¹ A2/Baa1 MOODY'S. Stable outlook SHUSA Baa3 (June 25, 2021) SBNA² Baa1 Santander1 A+/A- STANDARD Stable outlook SHUSA BBB+ & POOR'S (March 18, 2022) SBNA A- Santander 1 Senior Debt/ Senior non preferred SBNA Long-term issuer rating 21#22Index 1 2 3 4 At a Glance Summary Results Appendix#23Consumer Activities Quarter-To-Date Ended June 30, 2022 2022 2021 Total Consumer Activities Total Consumer Total Consumer Dollar Increase/ ($ in 000's) Auto CBB Auto CBB Percentage Activities Activities (Decrease) Net interest income 1,021,335 331,432 Non-interest income 696,522 78,885 Credit losses expense/ (benefit) 334,181 58,299 Total expenses 830,072 383,486 Income/(loss) before income taxes 553,604 (31,468) $ 1,352,767 775,407 392,480 1,213,558 522,136 $ 1,096,871 928,581 (271,712) 855,243 1,441,921 301,416 1,398,287 $ (45,520) -3.3% 85,911 (12,915) 1,014,492 (239,085) -23.6% (284,627) 677,107 237.9% 372,913 1,228,156 (14,598) -1.2% 27,329 $ 1,469,250 (947,114) -64.5% Year-To-Date Ended June 30, 2022 ($ in 000's) Net interest income Non-interest income Credit losses expense / (benefit) Total expenses Income/(loss) before income taxes Total assets Santander 2022 2021 Total Consumer Activities Auto CBB Total Consumer Activities Auto CBB Total Consumer Activities Dollar Increase/ Percentage (Decrease) 2,072,601 633,387 1,403,036 157,038 2,705,988 1,560,074 2,169,118 703,754 2,872,872 (166,884) -5.8% 1,846,438 153,120 1,999,558 (439,484) -22.0% 554,707 65,343 620,050 (150,327) (17,236) (167,563) 787,613 470.0% 1,632,156 767,436 2,399,592 1,745,835 775,249 1,288,774 $ (42,354) $ 1,246,420 $ 2,420,048 98,861 $ 2,521,084 2,518,909 (121,492) -4.8% (1,272,489) -50.5% 61,804,866 12,880,656 74,685,522 62,017,708 12,765,546 74,783,254 (97,732) -0.1% 23#24Commercial Activities Quarter-To-Date Ended June 30, 2022 ($ in 000's) 2022 2021 Total Commercial Activities C&I CRE Total Commercial Activities C&I CRE Total Commercial Activities Dollar Increase/ Percentage (Decrease) Net interest income 75,795 84,747 $ 160,542 72,491 82,783 155,274 5,268 Non-interest income 14,317 7,691 22,008 18,617 15,161 Credit losses expense / (benefit) 8,622 4,550 13,172 (20,721) 2,573 Total expenses 64,700 29,410 94,110 62,903 29,138 Income/(loss) before income taxes 16,790 58,478 75,268 48,926 66,233 $ 33,778 (18,148) 92,041 115,159 (11,770) 3.4% -34.8% 31,320 172.6% 2,069 (39,891) 2.2% -34.6% Year-To-Date Ended June 30, 2022 ($ in 000's) Net interest income Non-interest income Credit losses expense / (benefit) Total expenses Income/(loss) before income taxes Total assets Santander 2022 2021 Total Commercial Activities C&I CRE Total Commercial Activities C&I CRE Total Commercial Activities Dollar Increase/ (Decrease) Percentage 143,457 163,182 $ 306,639 30,257 23,031 53,288 146,266 35,019 168,066 314,332 (7,693) -2.4% 20,777 55,796 (2,508) -4.5% 12,256 (14,788) (2,532) (52,062) 4,349 (47,713) 45,181 94.7% 132,187 29,271 $ 58,609 142,392 $ 190,796 171,663 126,163 107,184 $ 57,163 183,326 7,470 4.1% 127,331 $ 234,515 $ (62,852) -26.8% 6,661,483 18,481,532 25,143,015 7,470,239 17,792,008 25,262,247 (119,232) -0.5% 24#25CIB Santander CIB Quarter-To-Date Ended June 30, 2022 ($ in 000's) 2022 2021 QTD Change Dollar Increase/ (Decrease) Percentage Net interest income 48,361 30,244 18,117 59.9% Non-interest income 70,077 54,529 15,548 28.5% Credit losses expense/(benefit) (3,003) (13,633) 10,630 78.0% Total expenses 117,092 62,779 54,313 86.5% Income/(loss) before income taxes 4,349 35,627 (31,278) -87.8% CIB Year-To-Date Ended June 30, 2022 YTD Change 2021 Dollar Increase/ (Decrease) ($ in 000's) 2022 Percentage Net interest income 74,250 Non-interest income 137,919 57,655 132,078 16,595 28.8% 5,841 4.4% Credit losses expense / (benefit) 3,390 (22,327) 25,717 115.2% Total expenses 192,647 130,109 62,538 48.1% Income/(loss) before income taxes 16,132 81,951 (65,819) -80.3% Total assets 28,747,499 11,788,210 16,959,289 143.9% 25#26Wealth Management Santander Wealth Management Quarter-To-Date Ended June 30, 2022 QTD Change Dollar Increase/ ($ in 000's) 2022 2021 Percentage (Decrease) Net interest income 45,227 23,171 22,056 95.2% Non-interest income 62,587 62,996 (409) -0.6% Credit losses expense/(benefit) (97) 97 100.0% Total expenses 59,375 52,755 Income/(loss) before income taxes 48,439 33,509 6,620 14,930 12.5% 44.6% Wealth Management Year-To-Date Ended June 30, 2022 YTD Change Dollar Increase/ ($ in 000's) 2022 2021 Percentage (Decrease) Net interest income Non-interest income 64,370 140,237 46,851 17,519 37.4% 126,242 13,995 11.1% Credit losses expense / (benefit) (170) 170 100.0% Total expenses 121,032 103,317 17,715 17.1% Income/(loss) before income taxes 83,575 69,946 13,629 19.5% Total assets 8,304,682 8,149,788 154,894 1.9% 26#27Other Santander Other Quarter-To-Date Ended June 30, 2022 ($ in 000's) 2022 2021 QTD Change Dollar Increase/ Percentage (Decrease) Net interest income Non-interest income Credit losses expense/ (benefit) Total expenses Income/(loss) before income taxes $ (73,485) 19,319 1,551 48,937 (104,654) (75,141) 1,656 2.2% 16,492 2,827 17.1% (777) 2,328 299.6% 57,151 (115,023) (8,214) -14.4% 10,369 9.0% Other Year-To-Date Ended June 30, 2022 YTD Change Dollar Increase/ ($ in 000's) 2022 2021 Percentage (Decrease) Net interest income $ Non-interest income Credit losses expense / (benefit) (137,830) 39,137 101 (140,543) 2,713 1.9% 53,108 (13,971) -26.3% (3,443) 3,544 102.9% Total expenses Income/(loss) before income taxes 95,695 (194,489) 103,474 (187,466) (7,779) -7.5% (7,023) -3.7% Total assets 28,443,114 35,202,144 (6,759,030) -19.2% Other includes the results of immaterial entities, earnings from non-strategic assets, the investment portfolio, interest expense on SBNA's and SHUSA's borrowings and other debt obligations, amortization of intangible assets and certain unallocated corporate income and indirect expenses. 27#28SHUSA: Quarterly Trended Statement Of Operations Santander ($ in Millions) 2Q21 3Q21 4Q21 1Q22 2Q22 Interest income Interest expense Net interest income 1,815 $ 1,796 $ 1,758 $ 1,722 $ 1,908 (283) (262) (253) (242) (375) $ 1,532 $ 1,534 $ 1,505 $ 1,480 $ 1,533 Fees & other income 1,177 1,068 1,018 967 939 Other non interest income 5 (1) 14 11 Net revenue $ 2,714 $ 2,602 $ 2,522 $ 2,461 $ 2,483 General, administrative, and other expenses (1,492) (1,498) (1,605) (1,466) (1,533) Credit loss (expense) / benefit 317 (20) (14) (217) (404) Income before taxes 1,539 $ 1,084 $ 903 778 $ 546 Income tax (expense)/benefit (372) (227) (198) (162) (107) Net income 1,167 857 705 616 439 Less: Net income attributable to NCI 208 150 135 Net income attributable to SHUSA 959 707 570 616 439 NIM 2Q21 3Q21 4Q21 1Q22 2Q22 5.0% 4.8% 4.6% 4.5% 4.3% 28#29SHUSA: Non-GAAP Reconciliations ($ in Millions) 2Q21 3Q21 4Q21 1Q22 2Q22 SHUSA pre-tax pre-provision income Pre-tax income, as reported 1,539 1,084 $ 903 $ 778 $ 546 (Release of)/provision for credit losses (317) 20 14 217 404 Pre-tax pre-provision Income 1,222 1,104 917 995 950 CET1 to risk-weighted assets CET1 capital Risk-weighted assets Ratio 19,895 20,573 113,295 112,068 21,068 111,820 17.6% 18.4% 18.8% 20,576 111,181 18.5% 19,565 115,655 16.9% Tier 1 leverage Tier 1 capital 21,868 22,631 23,175 Avg total assets, leverage capital purposes 148,072 152,058 154,429 20,921 154,305 Ratio 14.8% 14.9% 15.0% 13.6% 19,910 168,042 11.8% Tier 1 risk-based Tier 1 capital Risk-weighted assets Ratio Total risk-based 23,175 $ 20,921 $ 19,910 21,868 $ 113,295 19.3% 22,631 $ 112,068 20.2% 111,820 20.7% 111,181 18.8% 115,655 17.2% Risk-based capital 23,446 $ Risk-weighted assets 113,295 Ratio 20.7% 24,192 $ 112,068 21.6% 25,333 $ 111,820 22.7% 22,848 $ 111,181 21,896 115,655 20.6% 18.9% Santander 29#30SC Delinquency And Loss (Quarterly) Delinquency Ratios: 30-59 Days Delinquent, Retail Installment Contracts ("RICS"), Held For Investment ("HFI") Delinquencies and charge-offs remain low and are beginning to normalize 11.4% 11.0% 9.7% 8.3% 6.0% 6.8% 7.4% 7.3% 8.0% 4.3% 5.0% 5.5% 4.4% Delinquency Ratios: >59 Days Delinquent, RICS, HFI Early stage delinquencies increased 250 bps YoY 6.3% 6.0% 5.1% 4.6% 4.1% 4.1% 3.1% 3.3% 3.4% Late stage delinquencies increased 170 bps YoY 2.4% 2.4% 2.2% 2.4% Gross Charge-off Rates 19.2% 20.2% 17.3% 15.5% 11.1% 9.9% 9.7% 6.8% 6.6% 7.7% 9.6% 10.4% 9.5% Gross charge-off rate increased 290 bps YoY SC Recovery Rates¹ (% of Gross Loss) 114.9% 91.4% 64.2% 69.1% 74.4% 65.7% 67.8% 69.1% 46.3% 47.3% 52.2% 50.1% 45.7% Net Charge-off Rates² SC's Q2 recovery rate of 69% beginning to normalize but remains elevated due to low gross losses and continued strength in wholesale auction prices 10.3% 10.6% 8.3% 7.7% 6.0% 3.5% 3.0% 3.3% 3.4% 2.0% 2.9% 0.6% -1.0% Q4 Q4 2017 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 4Q Q1 Q2 2018 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 Santander 1❘ Recovery rate - Includes insurance proceeds, bankruptcy/deficiency sales, and timing impacts 2 Net charge-off rates on RICS, HFI Net charge-off rate increased 390 bps YoY 30 50#31Thank You. Our purpose is to help people and businesses prosper. Our culture is based on believing that everything we do should be: Simple Personal Fair. Santander MEMBER OF Dow Jones Sustainability Indices In Collaboration with RobecoSAM FTSE4Good