Santander Holdings USA Inc · NYSE:SNUS/PH

Santander Holdings USA — Debt Investor Presentation (June 2026)

29 slides from Santander Holdings USA's debt investor presentation, Jun 12, 2026

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

    June 12, 2026 SANTANDER HOLDINGS USA, INC. First 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. Source of Strength / Intragroup Funding Core Business Activities Q1 2026 Assets Consumer SHUSA Market-leading full spectrum auto lender and $63B Consumer & Business Banking (“CBB”) SC SBNA SanCap Commercial $26B Fund auto loans & Fund consumer & Fund capital Leading multi

  5. Slide 5: SHUSA Q1 2026 Results at a Glance

    SHUSA Q1 2026 Results at a Glance Improved Financial Metrics Normalized Credit Strong Capital / Liquidity $1.5B 12.3% 13.0% 1 NET INTEREST INCOME (“NII”) 30-89 DAYS AUTO DELINQUENCY COMMON EQUITY TIER 1 (“CET1”) Up 0.1% QoQ Down 192bps QoQ Up 41bps QoQ Up 2.6% YoY Up 136bps YoY Up 50bps YoY $414M 0.

  6. Slide 6: Index

    Index 1 2 3 4 At a glance Results Core Appendix Business Activities 6

  7. Slide 7: Quarterly Profitability

    Quarterly Profitability SHUSA NII ($M)  Stable NII performance reflecting funding efficiencies and benefits associated with +2% Revenue1 continued expansion of Openbank deposits offset by lower loan and lease balances $2,071 $2,057 $1,981 $2,012 $2,012  During the quarter we began funding virtuall

  8. Slide 8: Net Interest Income & Net Interest Margin

    Net Interest Income & Net Interest Margin SHUSA NII ($M) NII & NIM Drivers +3% Stable YoY and QoQ performance of NII and NIM NII $1,458 $1,495 +0% $1,495 sustained by: $3,137  Openbank deposit growth enabling reduction $2,985 $2,890 of higher-cost liabilities and driving funding Securities 331 396

  9. Slide 9: Non-Interest Income

    Non-Interest Income Non-Interest Income ($M) Non-Interest Income Drivers -1% Non-interest income decreased QoQ driven by: -10%  Prior quarter miscellaneous income reflects $576 a fair value adjustment on our interest in the 40 U.K. Limited Partnership2 $523 $517 Securities gains, net 40 26  Offset

  10. Slide 10: General, Administrative, & Other Expenses

    General, Administrative, & Other Expenses1 Expenses ($M) Expense Drivers -6% G&A and other expenses (excluding lease -9% expense) down QoQ and YoY driven by: $1,205  Disciplined execution of transformation and $1,172 134 $1,098 cost-efficiency initiatives QoQ and YoY Other expense 143 92 92  QoQ i

  11. Slide 11: Credit Loss Expense

    Credit Loss Expense Total Allowance for Credit Losses ($M) Expense Drivers Q1 2026 Q4 2025 Q1 2025 $ 6,000 $ 6,148 $ 6,562 Strong credit performance QoQ and YoY driven ALLL1, beginning of period ("BOP") by: Day 1 allowance on purchased seasoned loans at acquisition2 38 - - Credit loss expense3 437 4

  12. Slide 12: Balance Sheet Trends | Assets

    Balance Sheet Trends | Assets Loans & Leases ($B) Q1 2026 Recap Other $100 LHFS1 2 $97 2 $96 $93 $92 Residential 6 1 1  Loans and leases down 1.1% QoQ and 8.0% YoY, driven by 1 6 1 6 Leases 11 10 10 2 6 8 1 6 7 1 lower auto originations, off-balance sheet securitizations, and C&I2 and Other 16 16 1

  13. Slide 13: Balance Sheet Trends | Liabilities

    Balance Sheet Trends | Liabilities Liabilities & Equity ($B) Deposits by Business $172 $172 $168 $165 $168 Wealth Management 7% Other3 2% NIBD1 Deposits 14 14 13 14 14 CIB 3% Equity 18 18 19 18 18 Other Liabilities2 30 32 32 31 34 Commercial 16% Borrowed Funds 45 42 41 37 35 IB Deposits 65 66 63 65

  14. Slide 14: Liquidity & Wholesale Funding

    Liquidity & Wholesale Funding Borrowed Funds Profile | Balance ($B) SBNA Contingent Liquidity ($B) % Variance 1Q26 Ratio: 164% Q1 2026 Q4 2025 Q1 2025 QoQ YoY Cash and Immediately Available Sources of Liquidity SHUSA Unsecured Debt1 $ 13.2 $ 13.5 $ 15.5 (2%) (15%) 45.4 Liquidity from released govt.

  15. Slide 15: 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 25.2% TLAC, 8.8% eligible LTD and a CET1 ratio of 13.0% SHUSA Debt Ma

  16. Slide 16: Capital Ratios

    Confidential 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 Levera

  17. Slide 17: Index

    Index 1 2 3 4 At a glance Results Core Appendix Business Activities 17

  18. Slide 18: Business Activities Overview

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

  19. Slide 19: Consumer Activities | Auto & CBB

    Consumer Activities | Auto & CBB Income Statement Data Auto Distribution by FICO® Segment2 Q1 2026 Q1 20251 Total Consumer >=640 14% 15% ($M) Auto CBB Auto CBB Activities YoY 21% 34% 38% 39% 38% 38% 17% 17% 41% 42% 42% Interest income $ 1,585 $ 722 $ 1,633 $ 717 (1.8%) 18% 600-639 Interest expense 6

  20. Slide 20: Commercial Activities | CRE, Multifamily, and C&I

    Commercial Activities | CRE, Multifamily, and C&I Income Statement Data CRE Portfolio and Geographic Diversification Q1 2026 Q1 20251 Total Commercial Other 4% Industrial 5% Other Activities YoY ($M) C&I CRE C&I CRE Retail 5% 42% Interest income $ 189 $ 332 $ 227 $ 353 (10.2%) Office 9% NY 28% Inter

  21. Slide 21: CIB & Wealth Management

    CIB & Wealth Management CIB Income Statement Data Wealth Income Statement Data ($M) Q1 2026 Q1 20251 YoY ($M) Q1 2026 Q1 20251 YoY Interest income $ 634 $ 713 (10.9%) Interest income $ 78 $ 87 (10.3%) Interest expense 532 661 (19.5%) Interest expense 38 37 5.4% Fees and other income 210 192 9.4% Fee

  22. Slide 22: Index

    Index 1 2 3 4 At a glance Results Core Appendix Business Activities 22

  23. Slide 23: Loan Delinquency by Portfolio Class

    Loan Delinquency by Portfolio Class Consumer | 30-89 Days Past Due1 Commercial | 30-89 Days Past Due1 15.0% 2.0% 12.5% 1.5% 10.0% 7.5% 1.0% 5.0% 0.5% 2.5% 0.0% 0.0% Residential Mortgage Home Equity Auto Loans CRE C&I Multifamily Other Commercial ³ Personal Unsecured Other Consumer ² Consumer | 90+ D

  24. Slide 24: Charge-offs and Recoveries by Portfolio Segment

    Charge-offs and Recoveries by Portfolio Segment Q1 2026 Recap Charge-offs1,2 2.5%  Consumer NCO levels are marginally higher than prior year, 2.0% reflecting continued consumer resilience, despite higher 1.5% delinquencies, as well as strong recoveries. 1.0% 0.5%  Consumer NCOs are lower versus pr

  25. Slide 25: 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

  26. Slide 26: SHUSA | Quarterly Trended Statement Of Operations

    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 Ot

  27. Slide 27: Non-GAAP Reconciliations – Income Statement Metrics

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

  28. Slide 28: Non-GAAP Reconciliations – Capital Metrics

    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

  29. Slide 29: 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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