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: Second Quarter 2026 Fixed Income Investor Presentation

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

  2. Slide 2: Forward-looking statements and non-GAAP disclaimer

    2 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,

  3. Slide 3: Index: At a glance

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

  4. Slide 4: SHUSA core business activities

    4 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 La

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

    5 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 I

  6. Slide 6: Webster Transaction

    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 Centra

  7. Slide 7: Index: Results

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

  8. Slide 8: Revenue, G&A expenses and credit loss expense drivers

    8 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

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

    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 prima

  10. Slide 10: Non-Interest Income

    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 mark

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

    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 drive

  12. Slide 12: Credit Loss Expense

    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

  13. Slide 13: Balance Sheet Trends | Assets

    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 commer

  14. Slide 14: Balance Sheet Trends | Liabilities

    14 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

  15. Slide 15: Liquidity & Wholesale Funding

    15 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 Insure

  16. Slide 16: Debt & TLAC

    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 $

  17. Slide 17: Capital Ratios

    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 requiremen

  18. Slide 18: Index: Core Business Activities

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

  19. Slide 19: Business Activities Overview

    19 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 v

  20. Slide 20: Consumer Activities | Auto & CBB

    20 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

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

    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 Co

  22. Slide 22: CIB & Wealth Management

    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, ad

  23. Slide 23: Index: Appendix

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

  24. Slide 24: Loan Delinquency by Portfolio Class

    24 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 cons

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

    25 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 Re

  26. Slide 26: Rating Agencies

    26 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 unse

  27. Slide 27: Quarterly Trended Statement of Operations

    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

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

    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

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

    29 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 T

  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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