Santander Holdings USA Inc · NYSE:SNUS/PH

Santander Holdings USA — Debt Investor Presentation (August 2026)

30 slides from Santander Holdings USA's debt investor presentation, Aug 12, 2026

  1. Slide 1: Santander Holdings USA, Inc. Second Quarter 2026 Fixed Income Investor Presentation

    August 12, 2026 SANTANDER HOLDINGS USA, INC. Second Quarter 2026 Fixed Income Investor Presentation 1

  2. Slide 2: Important Information

    Important 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.

  3. Slide 3: Index

    Index 1 2 3 4 At a glance Results Core Appendix Business Activities 3

  4. Slide 4: SHUSA

    SHUSA BANCO SANTANDER, S.A. Q2 2026 Core Segments Source of Strength / Intragroup Funding Assets Consumer SHUSA Market-leading full spectrum auto lender and $64B Consumer & Business Banking (“CBB”) SC SBNA SanCap Commercial Fund auto loans & Fund consumer & Fund capital $26B leases with commercial l

  5. Slide 5: SHUSA Q2 2026 Results at a Glance

    SHUSA Q2 2026 Results at a Glance Improved Financial Metrics Normalized Credit Strong Capital / Liquidity $1.5B 13.2% 13.7% 1 NET INTEREST INCOME (“NII”) 30-89 DAYS AUTO DELINQUENCY COMMON EQUITY TIER 1 (“CET1”) Up 1.7% QoQ Up 95bps QoQ Up 68bps QoQ Up 2.7% YoY Up 62bps YoY Up 84bps YoY $585M 0.5% 2

  6. Slide 6: Webster Transaction

    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

  7. Slide 7: Index

    Index 1 2 3 4 At a glance Results Core Appendix Business Activities 7

  8. Slide 8: Quarterly Profitability

    Quarterly Profitability Performance Highlights  Strong NII and stable NIM performance driven by funding optimization associated with +5% Revenue1 Openbank expansion and higher investment securities yields $2,111  Virtually all Auto loan and lease originations now funded with deposits, reducing $2,

  9. Slide 9: Net Interest Income & Net Interest Margin

    Net Interest Income & Net Interest Margin SHUSA NII ($M) NII & NIM Drivers +3% The YoY and QoQ increases in NII and stable NIM NII $1,481 $1,495 +2% $1,521 were primarily driven by: $3,182  Continued funding cost optimization 358 $2,890 $2,882 supported by Openbank expansion Securities 458 423 445

  10. Slide 10: Non-Interest Income

    Non-Interest Income Non-Interest Income ($M) Non-Interest Income Drivers +11% Non-interest income increased QoQ driven by: +14%  Higher capital market revenue, reflecting $591 continued growth in CIB business 22 $531 Securities gains, $517  Partially offset by a decrease in consumer 22 net 26 139

  11. Slide 11: General, Administrative, & Other Expenses

    General, Administrative, & Other Expenses1 Expenses ($M) Expense Drivers +0% G&A and other expenses (excluding lease +1% expense) flat QoQ and YoY driven by:  Lower expenses in technology, occupancy $1,104 $1,098 $1,105 and equipment, and loan servicing QoQ and Other expenses 124 92 137 YoY, demons

  12. Slide 12: Credit Loss Expense

    Credit Loss Expense Total Allowance for Credit Losses1 ($M) Expense Drivers Q2 2026 Q1 2026 Q2 2025 $ 5,954 $ 6,000 $ 6,434 Credit loss expense improved QoQ and YoY ALLL2, beginning of period ("BOP") underpinned by: Day 1 allowance on purchased seasoned loans at acquisition3 - 38 - Credit loss expen

  13. Slide 13: Balance Sheet Trends | Assets

    Balance Sheet Trends | Assets Loans & Leases ($B) Q2 2026 Recap Other $97 LHFS1 $96 1 $93 $92 $91 Residential 2 1  Loans and leases down 1.1% QoQ and 6.2% YoY, driven by 6 6 2 Leases 10 1 10 6 8 1 6 7 1 6 7 1 lower auto lease originations, off-balance sheet securitizations, C&I2 and Other 16 16 16

  14. Slide 14: Balance Sheet Trends | Liabilities

    Balance Sheet Trends | Liabilities Liabilities & Equity ($B) Deposits by Business $172 $168 $165 $168 $165 Wealth Management 7% Other3 2% NIBD1 Deposits 14 13 14 14 13 CIB 2% Equity 18 19 18 18 18 Borrowed Funds 42 41 37 35 33 Commercial 17% Other Liabilities2 32 32 31 34 34 IB Deposits 66 63 65 67

  15. Slide 15: Liquidity & Wholesale Funding

    Liquidity & Wholesale Funding Borrowed Funds Profile | Balance ($B) SBNA Contingent Liquidity ($B) % Variance 2Q26 Ratio: 149% Q2 2026 Q1 2026 Q2 2025 QoQ YoY Cash and Immediately Available Sources of Liquidity SHUSA Unsecured Debt1 $ 14.2 $ 13.2 $ 14.2 8% - 40.0 Liquidity from released govt. FHLB 1

  16. Slide 16: Debt & TLAC

    Debt & TLAC  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 20

  17. Slide 17: Capital Ratios

    Capital Ratios 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%. CET11 Tier 1 Leverage Ratio1 13.

  18. Slide 18: Index

    Index 1 2 3 4 At a glance Results Core Appendix Business Activities 18

  19. Slide 19: Business Activities Overview

    Business Activities Overview Consumer Commercial  In addition to branch-based deposits, CBB attracts  CRE: Consists primarily of Other 5% Industrial 4% customers nationwide through its digital banking multifamily loans, and Retail 4% platform, Openbank robust servicing fee income from FDIC joint O

  20. Slide 20: Consumer Activities | Auto & CBB

    Consumer Activities | Auto & CBB Income Statement Data Auto Distribution by FICO® Segment2 Q2 2026 Q2 20251 Total Consumer ($M) Auto CBB Auto CBB >=640 14% 15% 21% Activities YoY 34% 38% 39% 38% 38% 17% 17% 41% 42% 42% Interest income $ 1,574 $ 748 $ 1,607 $ 748 (1.4%) 18% 600-639 Interest expense 6

  21. Slide 21: Commercial Activities | CRE, Multifamily, and C&I

    Commercial Activities | CRE, Multifamily, and C&I Income Statement Data CRE Portfolio and Geographic Diversification Q2 2026 Q2 20251 Total Commercial Other 5% Industrial 4% Activities YoY ($M) C&I CRE C&I CRE Retail 4% NY 27% Office 8% Interest income $ 186 $ 339 $ 220 $ 366 (10.4%) Other Interest

  22. Slide 22: CIB & Wealth Management

    CIB & Wealth Management CIB Income Statement Data Wealth Income Statement Data ($M) Q2 2026 Q2 20251 YoY ($M) Q2 2026 Q2 20251 YoY Interest income $ 616 $ 767 (19.7%) Interest income $ 76 $ 86 (11.6%) Interest expense 529 692 (23.6%) Interest expense 37 35 5.7% Fees and other income 274 161 70.2% Fe

  23. Slide 23: Index

    Index 1 2 3 4 At a glance Results Core Appendix Business Activities 23

  24. Slide 24: Loan Delinquency by Portfolio Class

    Loan Delinquency by Portfolio Class Consumer | 30-89 Days Past Due1 Commercial | 30-89 Days Past Due1 15% 2.0% 10% 1.5% 5% 1.0% 0.5% 0% 0.0% Residential Mortgage Home Equity Auto Loans Personal Unsecured Other Consumer ² CRE C&I Multifamily Other Commercial ³ Consumer | 90+ Days Past Due1 Commercial

  25. Slide 25: Charge-offs and Recoveries by Portfolio Segment

    Charge-offs and Recoveries by Portfolio Segment Q2 2026 Recap Charge-offs1,2 2.5%  Consumer NCOs remain marginally below prior-year 2.0% levels, supported by continued consumer resilience and 1.5% strong recoveries, despite higher delinquencies. 1.0% 0.5%  Consumer NCOs decreased quarter-over-quar

  26. Slide 26: Rating Agencies

    Rating Agencies  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 upg

  27. Slide 27: SHUSA | Quarterly Trended Statement Of Operations

    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 Ot

  28. Slide 28: SHUSA | Non-GAAP Reconciliations – Income Statement Metrics

    SHUSA | Non-GAAP Reconciliations – Income Statement Metrics ($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

  29. Slide 29: SHUSA | Non-GAAP Reconciliations – Capital Metrics

    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

  30. Slide 30: Thank You.

    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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