Santander US Quarterly Financial Analysis

ALLOWANCE FOR CREDIT LOSSES ("ACL") Allowance Ratios (Dollars in Millions) June 30, 2020 (Unaudited) March 31, 2020 (Unaudited) December 31, 2019 (Audited) Total loans held for investment ("LHFI") $91,294 $93,006 Total ACL1 Total Allowance Ratio $92,705 $7,382 $6,794 $3,738 8.0% 7.3% 4.0% >>> As of the end of Q2 2020, total allowance increased $588M compared to Q1 2020, driven by macroeconomic factors primarily related to COVID-19 >>> Total allowance coverage ratio increased to 8.0% » Allowance is ~85% of DFAST losses under the severely adverse scenario 10 1| Includes ACL for unfunded commitments Santander

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