Building 
Paths to 
Prosperity
Santander US  
Environmental, Social  
and Governance Report 
2021

ESG Report:  
Building Paths to Prosperity
Executive Summary....................................... 03
	
ESG Highlights...............................................03 
	
CEO Letter.....................................................04
	
About this Report..........................................06
Strategy......................................................... 07
	
Business Model & Strategy..........................08
	
Advancing Our ESG Strategy........................09
	
Public Commitments....................................10
	
Stakeholder Engagement.............................11
	
Materiality Assessment................................12
	
Alignment to UN Sustainable  
	
Development Goals......................................14
	
Partnerships..................................................15
Environmental............................................... 16
	
Our Approach................................................17
	
Our Journey...................................................17
	
Our Commitments........................................18
	
Climate Risk Management...........................19
	
Supporting the  
	
Sustainable Transition..................................20
	
Reducing Our  
	
Environmental Footprint..............................22
Social............................................................. 26 
	
Inclusive Communities Plan..........................27
	
Philanthropy..................................................28
	
Community Partnerships.............................30
	
Santander Universities.................................32
	
Supplier Diversity..........................................33 
	
Community Development Finance..............34
	
Small Business..............................................36
	
Homeownership...........................................38
	
Supporting Our Customers...........................39
	
Talent & Human Capital................................40
	
Diversity, Equity & Inclusion.........................47
Governance.................................................... 50
	
Corporate Governance.................................51
	
Risk Management.........................................54
	
Compliance...................................................58
	
Human Rights...............................................59
	
Information Security & Privacy....................60
	
Public Policy..................................................62
Appendices.................................................... 64 
 
Material Topic Definitions.............................65
	
UN Sustainable Development Goals............67
	
GRI Index.......................................................68
	
Inclusive Communities Plan Summary ........78
	
Awards & Recognitions.................................80
	
Glossary........................................................81 
Table of Contents
——
2

1  Financially empowered people include those impacted through financial education 
training and grants; recipients of specialized lending products; and people who 
gained housing through investments in affordable housing projects.
2  People helped include beneficiaries of grants provided for social purposes and 
people impacted by volunteer hours provided by Santander US.
3 The equal pay gap gauges the difference in compensation for women and men in 
the same job at the same level. Our comparison does not consider certain factors, 
such as tenure, years of service, previous experience and background.
Empower People  
and Businesses
46,000+  
individuals counseled with financial education
$100M  
multi-year investment to execute consumer banking digital 
transformation strategy
167,000+  
financially empowered people1
Nearly 50%  
of jobs filled internally
Support the  
Green Economy
100%  
carbon neutral in operations
$3.1B  
renewable energy finance exposure, supporting $7.8B  
in total deal size (including other participating banks)
47.7%  
electricity from renewable sources 
$79.2B  
total deal size of sustainability linked transactions in which 
Santander US (with other banks) participated  
100%  
elimination of single-use plastics where feasible
Foster Inclusive  
Communities
400+  
partner organizations supported
100,000+  
people helped2
25,000+  
volunteer hours 
$18M  
charitable giving
0.2%  
Equal Pay Gap3
ESG Highlights
——
CHAPTER 1 — EXECUTIVE SUMMARY
$14B  
Five-year Inclusive  
Communities Plan
$12.1B – Lending in underserved communities
$1.9B – Community development investments
$57M – Charitable contributions
65,000+ – Volunteer hours in  
underserved communities
3

Continued Global Volatility  
and the Role of ESG 
From global pandemics, geopolitical tensions and extreme weather events to market volatility and inflationary 
concerns, companies must navigate the unpredictable — not only to survive today, but also to be sustainable 
tomorrow. As part of one of the most respected banks in the world, with more than 155 million customers in 
Europe, South America and North America, we are focused on bringing global Environmental, Social and  
Governance (ESG) best practices to our US clients and the marketplace. 
The Santander US ESG strategy focuses on three primary pillars: empowering people and businesses,  
fostering inclusive communities and supporting the green economy. We are making strides in executing  
this strategy, which is why we are releasing our inaugural annual ESG report. It details our progress as we 
continue to focus on building paths to prosperity for our customers, employees and communities. 
In addition to measuring how we are delivering against our goals, the report also illustrates the immediate 
and long-term impact of this work. To that end, below are a few highlights: 
 
f Empower people and businesses: We work hard to ensure we are providing tools and solutions to our 
customers to enable them to achieve their financial goals. In 2021, we provided financial education to more than 46,000 individuals and 
small businesses, while expanding our signature small business program, Cultivate Small Business. 
 
We are investing in our colleagues, including supporting their career development and financial wellness. Last year, nearly 50 percent 
of our jobs were filled internally, we raised the minimum wage to $20 per hour and launched Operation Hope’s HOPE Inside financial 
wellness programming for colleagues at Santander Consumer. 
 
Diversity, equity and inclusion are not only tenets of our Santander culture; they are also business strategies. Internally, we sponsor seven 
employee resource groups (ERGs): the Asian American and Pacific Islander (AAPI), Black Organization for Leadership and Development 
(BOLD), Conexión (Hispanic and Latino), Embrace (LGBTQ+), EmpowHER (women), THRIVE (caregivers and abilities) and the Veterans ERGs.
 
f Foster inclusive communities: In 2017, Santander Bank (SBNA) launched our Inclusive Communities Plan (ICP), representing an $11 
billion, five-year commitment to community support via community development lending and investments, chartiable grants and 
volunteering. Our investment totaled $14 billion during the program’s tenure, exceeding our goal by $3 billion. This included more than 
$12.1 billion in lending and $1.9 billion in investments to underserved communities, as well as $57 million in grants and more than 
65,000 volunteer hours by our colleagues. 
 
Santander Consumer (SC) has steadily grown charitable giving through the Santander Consumer USA Foundation and recently 
launched a $35 million, multi-year effort focused on digital inclusion to provide free high-speed internet access, computers and digital 
skills training to low-income families. 
 
f Support the green economy: At Santander US, we are leveraging our global resources to support our customers in the transition to  
a low-carbon economy and have become a national leader in renewable energy, with $3.1 billion renewable energy finance exposure 
supporting $7.8B in total deal size in 2021. This included our participation as financial advisor and joint lead arranger in Vineyard Wind, 
the first large-scale offshore wind farm in the US. Project Finance International named this transaction “Global ESG Deal of the Year.”  
 
We are also pursuing corporate-wide goals to align with the Paris Agreement and achieve net zero by 2050. Our operations have been 
carbon neutral since 2020 and we are on track to meet our pledge to be powered 100 percent by renewable energy by 2025. 
Thank you to all of our employees, customers and partners for their support on our ESG journey. I look forward to what lies ahead as we  
continue to provide the tools for a more sustainable world, helping people and businesses prosper. 
Respectfully, 
Tim Wennes 
Santander US CEO
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
EXECUTIVE SUMMARY

Santander is committed to enabling  
inclusive and sustainable growth. As one  
of the world’s largest banks with nearly  
5 million customers in the US, we have  
a responsibility and an opportunity to  
support our customers and communities  
in the transition to a low-carbon economy.
Ana Botín, Executive Chair, Banco Santander, S.A.
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
EXECUTIVE SUMMARY

About this Report
——
Historically, Santander US has published an annual Corporate Social Responsibility Report. This year, we transition to a more robust, annual 
ESG Report to better serve our stakeholders and communities. We are committed to increasing transparency and voluntary disclosure about 
our business and operational activities. This report was designed to outline our impact across key topics and issues that are important to both 
our business and our varied and diverse stakeholders. Included in this report are summaries of our business, community and environmental 
impact, as well as our public commitments as a global and US financial institution. 
SCOPE
This report covers the core activities of Santander Holdings, USA, and its subsidiaries in the US from January 1 to December 31, 2021, which 
corresponds to Santander’s fiscal year. It gives economic, social and environmental information according to our accounting criteria. Of note, 
important updates and signature programs launched in the first half of 2022 may also be referenced in these pages. Finally, we share plans 
for future reporting and disclosure. Please note that some numbers may be rounded.
REPORTING FRAMEWORKS AND STANDARDS
The data and topics that are included in Santander US’ ESG Report are guided and 
informed by the GRI reporting standard, and this report meets the GRI Standards (core 
option). The GRI standard is one of many recognized ESG reporting frameworks that 
provide topics and structure and advise companies on which ESG data and information 
to disclose. This makes company disclosure comparable across the industry. The GRI 
framework is one of the most widely used reporting frameworks and contains universal, 
topic and sector standards, which are used together to comprehensively disclose and 
organize ESG reporting. GRI reporting topics are voluntary, but GRI itself is a tool that 
demonstrates our commitment to reporting transparency. This report is also informed 
by the ESG reporting frameworks our parent company, Banco Santander, utilizes. These 
additional frameworks include the Sustainability Accounting Standards Board (SASB), 
recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD), 
and the World Economic Forum (WEF) Stakeholder Capitalism metrics. Included in the 
appendix of this report is the full GRI index, which maps our company’s data, disclosure 
and reporting to the GRI’s indicators. 
DISCLAIMER
This report has been prepared in conjunction with high-level global public commitments and objectives developed by our parent, Banco Santander, S.A. (“BSSA”). The targets and 
objectives referred to in this report are aspirational; as such, no guaranty or promise is made that they will be met or implemented successfully. The statistics, metrics and other data 
and information included in this report are not audited and are not necessarily prepared in accordance with generally accepted accounting principles (“GAAP”). The information and 
any underlying assumptions contained in this report are expected to evolve over time. This report covers the consolidated business of Santander Holdings USA, Inc. and its subsidiaries 
(“SHUSA”) and does not address the performance or operations of SHUSA’s vendors, suppliers, customers or other third parties.
This report is not comprehensive and should be read in conjunction with SHUSA’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. 
This report contains certain terms used in the Global Reporting Initiative’s framework and standards, such as “material” and “materiality.” This terminology may be used differently than 
the same terms as they may be used in other disclosures SHUSA may make from time to time.
This report contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our corporate social 
responsibility and environmental, social, and governance targets, goals, objectives, commitments, programs and other business plans and initiatives. These statements are typically 
accompanied by the words “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “goals,” “intends,” “plans,” “projects,” “may,” “will,” “should,” “would,” “could” and similar terms. 
Although SHUSA believes that the expectations reflected in these forward-looking statements are reasonable as of the date on which the statements are made, among the factors 
that could cause SHUSA’s performance to differ materially from that suggested by the forward-looking statements are the risks and uncertainties described in SHUSA’s filings with the 
Securities and Exchange Commission from time to time. If one or more of the factors affecting SHUSA’s forward-looking statements renders those statements incorrect, SHUSA’s actual 
results, performance or achievements could differ materially from those expressed in or implied by the forward-looking statements. Readers should not consider these factors to be a 
complete set of all potential risks or uncertainties as new factors emerge from time to time. 
The information in this report is for general information purposes only and does not constitute legal, tax, accounting, financial or investment advice of any kind or an offer to invest, and 
in making this report available SHUSA gives no advice and makes no recommendation to buy, sell, or otherwise deal in shares or other securities of Santander, SHUSA, Santander Bank, 
N.A., Santander Consumer USA Inc. or any other securities or investments. Prior to making any investment, a prospective investor should consult with its own investment, accounting, 
legal and financial advisors to evaluate independently the risks, consequences and suitability of that investment. 
Restatement of data
Data may be restated from 
previous years or reporting, 
because information has 
been updated or information 
was not available at the time 
of a previous report. In the 
case of a restatement, a note 
is provided with the data.
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
EXECUTIVE SUMMARY

Strategy
——
Santander US is a diversified financial services institution headquartered in Boston, Massachusetts. Our  
financial services businesses employ nearly 15,000 employees and service about 5 million customers across 
the United States. Learn more at santanderus.com.
Santander US is a wholly owned subsidiary of Banco Santander S.A. (BSSA), a leading global retail and  
commercial bank, founded in 1857 and headquartered in Spain. Led by Group Executive Chairman Ana Botín, 
Santander Group has a meaningful presence in 10 core markets in Europe and the Americas and is the largest 
bank in the Euro Zone by market capitalization. At the end of 2021, Santander Group had 152.9 million  
customers, 9,879 branches and 197,000 employees.
7
CHAPTER 2 — STRATEGY

BUSINESS MODEL AND STRATEGY
Santander US combines a strong depositary base in the Northeast with its nationwide auto finance, wealth management, commercial and 
corporate banking capabilities.
SANTANDER BANK, N.A. 
(SBNA) 
Retail and Commercial Banking, 
Corporate and Investment 
Banking, Commercial Real Estate 
 
f Assets: $102B
 
f Net Income: $502.8M
 
f Loans and Leases: $54.3B
 
f Employees: 8,806
 
f Branches: 483
 
f Customers: 2M
 
f ATMs: 2,100 with 1,000  
in CVS Pharmacy locations
 
f Acquired4: 2009
SANTANDER  
CONSUMER USA (SC) 
Auto Financing and Servicing
 
f Assets: $47.7B 
 
f Average Managed  
Assets: $64B
 
f Net Income: $3.3B
 
f Loans and Leases: $47.9B 
 
f Employees: 5,101
 
f Customers: 3M
 
f Acquired4: 2006
 
SANTANDER INVESTMENT  
SECURITIES (SIS)5 
Securities and Capital Markets
 
f Assets: $4B
 
f Net Income: $36.6M 
 
f Employees: 206
 
f Established: 1994
 
 
 
 
 
 
BANCO SANTANDER  
INTERNATIONAL (BSI) 
International  
Private Banking
 
f Assets: $8B
 
f Assets Under  
Management: $28.9B
 
f Net Income: $96.6M
 
f Loans and Leases: $5.4B
 
f Employees: 562
 
f Established: 1979
1 Includes Holding Company and Corporate Center. All YTD net income and balance sheet figures are as of December 31, 2021 in US GAAP. Full-time employee and customer counts are approximate.
2	 This amount excludes income attributable to non-controlling interest of $638.9M.
3	 Includes 201 employees of Banco Santander S.A., New York Branch, which operates as a US branch of Banco Santander based in New York City.
4	 Notes on acquisitions: 90% of Drive Financial acquired in 2006, renamed Santander Consumer in 2007. Full acquisition of Sovereign Bank in 2009, renamed Santander Bank in 2013.
5 Santander Holdings announced its acquisition of Amherst Pierpont Securities (APS), LLC., a market-leading fixed-income broker-dealer on July 15, 2021. The acquisition was completed  
April 11, 2022. Along with SIS, APS is a part of Santander US’ Corporate and Investment Banking business.
Santander US Key Metrics1
 
f Assets: $160B 
 
f Net Income: $3.6B2
 
f Loans and Leases: $107.5B
 
f Employees: 14,8763
8
2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
STRATEGY

Our approach to ESG is built from the issues that are most important to our business and stakeholders. Our strategy has three pillars, which 
support us in our goal of helping people and businesses prosper and allow us to address a number of societal challenges.
B U I L D I N G  PAT H S  T O  P R O S P E R I T Y
EMPOWER PEOPLE AND BUSINESSES
FOSTER INCLUSIVE COMMUNITIES
SUPPORT THE GREEN ECONOMY
By expanding access to capital, financial 
education and training
By meeting the needs of  
underserved individuals and  
communities, and by championing  
diversity, equity and inclusion
By helping customers transition to a 
low-carbon economy and achieving  
our sustainability goals
OUR MATERIAL ISSUES
Financial Inclusion  
and Empowerment
Diversity, Equity and Inclusion
Customer Experience  
and Satisfaction
Financial Inclusion  
and Empowerment
Diversity, Equity and Inclusion
Green Finance
Portfolio Alignment to Net Zero by 2050
ESG & Climate Risk Management
ESG Governance Structure
CROSS-CUTTING ISSUES AND ENABLERS
Culture, Conduct and Ethical Behavior
Talent Management and Development
Advancing our Strategy
Santander US made many important strides to advance our ESG strategy in 2021 and into 2022 to further embed ESG priorities across 
Santander US. Areas of progress include:
Strengthening the foundation
 
f Established the US ESG Office and  
conducted the first US ESG  
materiality assessment 
 
f More formally established ESG and  
climate risk functions
 
f Implemented more rigorous ESG  
reporting and controls
 
f Adopted the Santander Group Sustainable 
Finance Classification System to support 
transparent development of green, social 
and sustainable finance opportunities
Social
 
f Completed five-year Inclusive  
Communities Plan, providing more 
than $14B in funding
 
f Established a US-wide Office of  
Diversity, Equity and Inclusion
 
f Launched Digital Inclusion Initiative
 
f Expanded Cultivate Small Business  
to six states, doubling its size
Environmental 
 
f Further developed climate risk  
management framework 
 
f Enhanced green and sustainable  
finance offerings
 
f Maintained top rankings in renewable 
project finance
Governance
 
f Enhanced board oversight and reporting 
 
f Established ESG Working Group
 
f Enhanced supplier diversity program
9
2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT
STRATEGY

STRATEGY
PUBLIC COMMITMENTS AND OUR PROGRESS
In 2019, our parent company, Banco Santander, announced 11 public commitments that reflect our company’s commitment to responsible and 
sustainable banking goals. Through these commitments, we’ve worked to embed ESG criteria into our business operations and take action 
on our commitment to the United Nations (UN) Sustainable Development Goals and targets set in the Paris Agreement on climate change. 
Santander US aligns our efforts around our global public commitments and has developed a strategy that supports our shared efforts to 
meet these commitments while acknowledging the unique needs of our US footprint, clients, customers and communities. 
In 2021, Santander Group, including all countries, met or exceeded all of our commitments for 2019-2021, while making progress on our 
future targets. Banco Santander also added new public commitments, which include initial decarbonization targets for the power industry 
by 2025 and 2030, measured by emission intensity.
 
f Be carbon neutral in our operations
 
f Have a Group board of directors 
with 40-60% women members
 
f Eliminate single-use plastics in our 
buildings and offices, where feasible
Santander Group Future Public Commitments1
2021
Target
Period
1. Electricity from renewable resources
75%
100%
by 2025
2. Thermal coal-related power and mining phase out
€7B
0 exposure
by 2030
3. Reduce emission intensity in power generation portfolio2
.23 tCO2e/MWh
.18 tCO2e/MWh 
.11 tCO2e/MWh
by 2025 
by 2030
4. Green finance raised and facilitated (cumulative)3
€65.7B
€120B 
€220B
2019-2025 
2019-2030
5. Sustainable investment (AUM under ESG funds)
€27B
€100B
by 2025
6. People financially empowered (cumulative)3
7.5M
10M
2019-2025
7. Women in senior positions
26.3%
30%
by 2025
8. Equal Pay Gap
1%
0%
by 2025
Maintain commitments achieved:
1	All Banco Santander commitments represented in Euro (€). 
2 The 2021 figure of 0.23 tCO2e/MWh corresponds to the latest available portfolio data (2019).
3 The 2021 figure is a cumulative figure from 2019.
10
2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

STRATEGY
STAKEHOLDER ENGAGEMENT 
Santander US stakeholders fall within the following broad categories: customers, employees, communities, investors, government and 
suppliers. Communication channels and material topics are further defined below.
STAKEHOLDER
CHANNELS
MATERIAL TOPICS
Customers
ESG Materiality Assessment
Complaint Management
Roundtables and Focus Groups
Voice of the Customer/Client Surveys
Client Events
Regular Meetings and Correspondence
Financial Literacy and Education Events
Corporate Website
Social Media 
Green Finance
Diversity, Equity and Inclusion
ESG Governance
Culture, Conduct and Ethical Behavior
Privacy, Data Protection and Cybersecurity
Customer Experience and Satisfaction
Employees
ESG Materiality Assessment
Corporate Intranet
Employee Engagement Surveys
Town Halls, Team Meetings, Leadership and Manager Communications
Ethics Hotline 
DEI, Programs and Events
Performance, Development and Learning Initiatives
Volunteer Activities
Culture, Conduct and Ethical Behavior
Talent Management and Development
Diversity, Equity and Inclusion
Portfolio Alignment to Net Zero by 2050
Customer Experience and Satisfaction
Communities
ESG Materiality Assessment
Community Advisory Boards (National, MA/NH, RI/CT, NY, NJ, PA & DE)
Community Partnerships with Nonprofits and CDFIs including  
Financial Education and other Programming
Volunteerism 
Philanthropic Investments, including SC Foundation
Nonprofit Board Engagement
Corporate Website
Culture, Conduct and Ethical Behavior
Green Finance
Talent Management and Development
Diversity, Equity and Inclusion
Financial Inclusion and Empowerment
Privacy, Data Protection and Cybersecurity
Investors
ESG Materiality Assessment
Shareholder Engagement Program, including Correspondence,  
Meetings, Presentations
Earnings Presentations and Roadshows
Securities and Exchange Commission (SEC) Filings
Fixed Income Presentations
Corporate Website
Culture, Conduct and Ethical Behavior
Green Finance
Portfolio Alignment to Net Zero by 2050
ESG Governance Structure
Diversity, Equity and Inclusion
Financial Inclusion and Empowerment
Privacy, Data Protection and Cybersecurity
ESG and Climate Risk Management
Government
Regulatory Bodies 
Trade Associations 
Standard Setters
ESG Materiality Assessment
Regulatory Oversight, including Exams and Continuous Monitoring
Interactions through Regulatory and Government Affairs Teams
Regulator-sponsored Events, Trainings and Initiatives
Engagement with Trade Associations on Public Policy and  
Regulatory Matters
Culture, Conduct and Ethical Behavior
Diversity, Equity and Inclusion
Privacy, Data and Cybersecurity
Information Transparency and Disclosure
Suppliers
ESG Materiality Assessment 
Supplier Onboarding and Ongoing Relationship Management
Meetings and General Correspondence
Green Finance
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

MATERIALITY ASSESSMENT
To effectively focus our ESG strategy at Santander US, our company stakeholders – both internal and external – participated in an issue 
prioritization exercise to identify our most material ESG issues in terms of importance to our business and our community. 
This exercise identifies a range of issues across the ESG categories. Ultimately issues are prioritized and plotted on a matrix, which ranks 
issues based on impact to our business and our community.
Santander conducted this assessment through interviews, surveys and research with key stakeholders. Stakeholders included, but were not 
limited to, our executive and board leadership, investors, customers, colleagues, nonprofit and community partners, regulators and peers. 
Our assessment methodology aligns to Santander Group’s broader methodology and included three phases:
1.	 Material topic identification: Develop a preliminary list of topics based on a variety of internal and external sources.
2.	 Stakeholder input collection: Conduct surveys, interviews and research to capture stakeholder input. 
3.	 Scoring and validation: Assign weights to different topics and generate materiality matrix. 
The issues identified in this prioritization will drive our ESG strategy and reporting in the years ahead. 
Stakeholder and business engagement resulted in a prioritized map of Santander US material ESG topics
INCREASING IMPORTANCE TO SANTANDER US 
INCREASING IMPORTANCE TO EXTERNAL STAKEHOLDERS
STRATEGY
Operational GHG
emissions & reductions
Green ﬁnance
ESG & climate risk management
Portfolio alignment to net zero
Biodiversity / ecological 
conservation
Operational footprint
Public policy 
practices
Systemic risk management
ESG governance structure
Innovation & technology
Information transparency & Disclosure
Culture, conduct & ethical behavior
Privacy, data protection 
& cybersecurity
Operational & business resilience
Corporate governance
Responsible procurement
Community engagement 
& support
Employee wellbeing
Fair & equitable 
compensation
Human rights
Social inclusion
Customer experience & satisfaction
Financial inclusion & 
empowerment
Talent management & development
Social
Governance
Environmental
CRUCIAL
Maintain or invest to transform the business and disclosures
MAJOR
Continue to maintain, manage and monitor for 
compliance and positive market position
RELEVANT
Monitor for change in inﬂuence 
on stakeholders or businesses
Diversity, equity 
& inclusion
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

STRATEGY
Material Topic Definitions
ENVIRONMENTAL 
Green Finance
Support our customers in their transition to a low-carbon economy by embedding environmental factors 
in products and risk analyses, and by supporting the growth of sustainable financial product markets.
ESG & Climate  
Risk Management
Ensure our risk management framework incorporates customers’ and operations’ environmental (e.g., 
climate) and social (e.g., human rights) risks, and outline them in policies and procedures.
Portfolio alignment to Net 
Zero Achieved by 2050
Analyze our portfolios’ carbon footprints and align them with the Paris Agreement by taking actions to 
steer them to net zero, applying climate methodologies and setting targets.
SOCIAL
Diversity, Equity  
and Inclusion
Create an equitable workplace and community that promotes and empowers team members with 
diverse backgrounds, identities and other factors.
Customer Experience  
and Satisfaction
Support customers and local economies with products and services that meet their needs. Provide services 
and products that are Simple, Personal and Fair. Innovate and use digital technologies to maximize access 
to products and services.
Financial Inclusion  
and Empowerment
Design, develop and deliver products and services that ensure access to the financial system and meet 
credit needs. Build resilience through financial education.
Talent Management  
and Development
Attract, engage and retain a productive and talented workforce with benefits and development  
opportunities. Ensure meritocracy.
GOVERNANCE 
Information Transparency 
and Disclosure 
Provide clear and comparable business information in an accessible manner that demonstrates  
accountability and credibility.
Culture, Conduct  
and Ethical Behavior
Ensure exemplary conduct across all operations by being Simple, Personal and Fair in all we do; embed 
I AM Risk culture and best-in-class policies and controls on employees’ conduct; promote transparency 
toward customers.
Data Protection  
and Cybersecurity
Manage the risks from collecting, retaining and using personal information.
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

STRATEGY
ALIGNMENT TO UNITED NATIONS SUSTAINABLE DEVELOPMENT GOALS 
The United Nations Sustainable Development Goals (SDGs) are a universal framework for accomplishing 17 important global outcomes by 
2030, and provide a guide for embedding sustainability within our business. Santander US aligns to these goals and is focused on advancing 
those which are most relevant to our ESG pillars, including1:
EMPOWER PEOPLE AND BUSINESSES
FOSTER INCLUSIVE COMMUNITIES
SUPPORT THE GREEN ECONOMY
HIGHLIGHTS
More than $100 million multi-year 
investment to execute consumer banking 
digital transformation strategy
$18M philanthropic donations
46,000+ counseled in financial education
Nearly 50% of jobs filled internally
Cultivate Small Business expanded 
to 6 states
167,000+ financially empowered people
400+ partner organizations supported
25,000+ volunteer hours
$2.3M Racial Equity Initiative
0.2% Equal Pay Gap
$14B INCLUSIVE  
COMMUNITIES PLAN, INCLUDING:
$1.5B small-business lending in  
communities of color
$1.4B in affordable mortgage lending
$3.3B mortgage lending to people of color
$3.1B in renewable energy finance 
exposure, supporting $7.8B in  
total deal size 
$79.2B total deal size of sustainability 
linked transactions in which Santander 
US participated 
Carbon neutral in own operations
Elimination of single-use plastics,  
where feasible
1	 For more information on the SDGs see the Appendix.
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

STRATEGY
PARTNERSHIPS
As part of the Santander Group, our ESG 
agenda and strategy is supported by a 
number of key partnerships and initiatives.
United Nations Environment 
Programme Finance Initiative 
We are a founding signatory to the United Nations 
Principles for Responsible Banking.
CDP (Carbon Disclosure Project)
Glasgow Financial Alliance for  
Net Zero, Net Zero Banking Alliance  
and Net Zero Asset Management
Partnership for Carbon Accounting  
Financials (PCAF)
United Nations Global Compact 
We have been part of the Global Compact network since 
2002 and a signatory of the United Nations Global  
Compact’s gender equality program since 2020.
Equator Principles
United Nations Principles for  
Responsible Investment
15
2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

Environmental
——
We believe that climate change and the future health of our environment are 
two of the biggest challenges facing our world. We are fully committed to the 
goals of the Paris Agreement and to supporting the transition to a climate- 
resilient and zero-carbon economy.
CHAPTER 3 — ENVIRONMENTAL
16

OUR APPROACH
To make progress against our commitments, we are focused on three strategies:
 
Ź Effective climate risk management, which identifies, assesses and manages climate-change-related risks
 
Ź Supporting the sustainable transition
 
Ź Reducing our environmental footprint
Our strategy supports Santander Group in our global commitment to achieve net zero emissions by 2050, and to help customers transition  
to a low-carbon economy through better products, services and support. Further, we recognize the disproportionate effects that both 
climate change and the transition to a low-carbon economy can have on vulnerable populations. With this in mind we are committed to 
understanding and mitigating the effects of climate change, and to working toward a just and orderly transition.
In 2021, our efforts continued to focus on creating more opportunities for green financing as well as activities and investments to reduce our 
own environmental footprint. 
OUR JOURNEY
Santander Group continues to make progress in our global commitment to address climate change.
ENVIRONMENTAL
Became carbon 
neutral in own 
operations
Eliminated 
 single-use plastics 
in buildings and 
offices
2050
Achieve  
net zero
Creation and publication of Santander’s  
Sustainable Finance Classification System (SFCS)
Creation and publication of Santander’s Global  
Green, Social, Sustainable Funding Global Framework 
with Second Party Opinion from Sustainalytics
Set decarbonization targets for material sectors like 
Oil and Gas, Transport and Mining and Metals
Eliminate all exposure to  
thermal coal mining worldwide 
Stop providing financial services to power 
generation clients with more than 10% 
of revenues dependent on thermal coal 
Align Santander power generation  
portfolio with Paris Agreement
100% of electricity  
from renewable sources 
Raise and facilitate green  
finance (vs. 2019):  
>€120B by 2025 
>€220B by 2030
2030
2025
2022
2021
2020
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

ENVIRONMENTAL
SANTANDER US ENVIRONMENTAL HIGHLIGHTS
OUR COMMITMENTS
Banco Santander has made a number of environmental and climate-focused public commitments, which we have met or are on track to 
meet on a global basis.
1 Includes support provided by SBNA and SC to communities affected by natural and man-made disasters.
$3.1B
renewable energy finance 
exposure, supporting  
$7.8B in total deal size
$2.4M
disaster relief (2017-2021)1
47.7%
electricity from  
renewable sources
100%
elimination of single-use 
plastics, where feasible
Carbon  
Neutrality
in our operations beginning  
in 2020
$697M
hybrid electric vehicles 
financed
Green Finance raised  
or facilitated:
€120B by 2025 
€220B by 2030
Sustainable investment 
(AUM under ESG funds):
€100B by 2025
Electricity from  
renewable sources
100% by 2025
Carbon neutral in  
our operations
Since 2020
Elimination of unnecessary 
single-use plastics in  
buildings and branches
100% in 2021
Thermal coal power and 
mining phase out
$0 exposure by 2030
Reduce emissions intensity in 
power generation portfolio
0.18 tCO2e/MWh by 2025 
0.11 tCO2e/MWh by 2030
Cease financing power  
companies with more than 
10% of revenue from coal-fired 
power generation by 2030
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

ENVIRONMENTAL
ENVIRONMENTAL AND CLIMATE RISK 
Climate-related risks have become a priority for financial institutions, their clients and  
communities. Numerous stakeholders, including governments, regulators and investors  
are working to better understand the nature and magnitude of climate risk and the  
potential impact on banks’ strategies, profitability and overall resilience. 
Santander US considers climate risk as a risk that will manifest through impacts to other 
existing risk types. We define climate-related risk in two categories: 
1.	 Transition Risks, or those that develop from the transition to a low-carbon economy, including: 
 
f Policy actions and regulation: efforts to constrain activity leading to negative effects or 
to promote adaptation to climate change 
 
f Technology risk: arises from innovation to support transition, such as renewable energy 
or electric vehicle batteries 
 
f Market: shift in supply or demand in certain commodities as climate-related risks  
are considered 
2.	Physical Risks, or those that result from direct physical effects of climate change: 
 
f Acute: increased severity from weather events 
 
f Chronic: climate change impacts that occur over time 
The physical and transition risk text box demonstrates ways in which climate risk could impact 
strategy for sustainable growth in the short, medium and long term. 
Through our rigorous risk management processes, we identify, assess, manage and report risks that 
arise from pursuing our strategic objectives and operations. As a transverse risk, climate risk is being 
incorporated and embedded into the Santander US Enterprise Risk Management Framework. We 
have further refined our approach to managing environmental, social and climate change (ESCC) 
risks within our Reputational Risk Policy and Guide to Climate Change Financial Risks, which assess 
sectoral specific risks. In 2022, climate risk considerations were added to the Material Risk Program, 
and on a qualitative basis, to Santander US credit and reputational risk appetite statements (RAS). 
Quantitative RAS metrics are in development to align with Santander global ambitions and local 
standards. Santander US will identify emerging risks and continue to assess existing risks, which 
are evolving and changing due to climate risk and regulatory priorities, recognizing that some 
risks may be difficult to assess given current data limitations and uncertainties. 
In 2022, Santander US created a climate risk function within Enterprise Risk Management to 
integrate climate considerations into the Santander US risk management framework, policies 
and processes. A cross-functional working group on climate-change-related risk was formed to 
respond to the evolving landscape and regulatory trends. We continue to work to embed climate 
risk assessment and management into our practices, improve risk data capture and reporting 
capabilities, and enhance policy and risk appetite statements to ensure consideration of clients’ 
climate-related risks and vulnerabilities in credit risk assessments, particularly in high-climate-
risk sectors, and to expand governance. Beginning in 2022, the Enterprise Risk Management 
Committee and Board Risk Committee receive updates on climate risk. 
ENVIRONMENTAL AND SOCIAL RISK ASSESSMENT
Santander Group subscribes to the Equator Principles, which establish a financial industry  
benchmark for assessing and managing environmental and social risk in projects.
Globally, all of Santander’s financing operations under the Equator Principles are subject to 
social and environmental risk assessments (which includes human rights aspects). In 2021,  
68 operations were subject to a social and environmental risk assessment.
Physical Risk 
Risk from the physical  
weather impacts of  
climate change.
 
Ź Acute hazards: increase in  
frequency and magnitude  
of severe weather events 
(floods, droughts, wildfires, 
storms and hurricanes) 
 
Ź Chronic hazards: long-term 
weather trends (sea level  
and temperature increases,  
precipitation patterns) 
Transition Risk 
Risk from the economic  
transformation to a net 
zero carbon economy.  
Key drivers include: 
 
Ź Customers: change in  
customer behavior, loss of  
competitive advantage or  
pricing risk for green products 
 
Ź Market: market volatility,  
sourcing or supply chain  
challenges for certain materials 
 
Ź Policy and Regulation:  
incentives or restrictions,  
carbon pricing, new regulatory 
requirements and increased 
risk of non-compliance,  
inefficiency and costs  
associated with regulatory 
divergence across regimes 
 
Ź Technology/Data: increasing 
data complexity and rapidly 
changing technology
 
Ź Reputation: challenges  
resulting from inability to 
respond to other changes,  
such as regulation, policy or 
customer preference
Climate Risk Management
——
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

Supporting the Sustainable Transition
——
While banks must work to improve their own facilities and environmental footprints,  
oftentimes the greatest impact we can make is by helping communities, clients,  
customers and other stakeholders accelerate their own transitions to a lower- 
carbon economy and mitigate the impacts of climate change. We do this through  
our financing and investments in a number of ways, from individual consumer loans 
for electric vehicles to the financing of the largest offshore wind farm in the US.
SUSTAINABLE FINANCE CLASSIFICATION SYSTEM (SFCS)
In 2022 we adopted Santander Group’s Sustainable Finance Classification System. This 
internal taxonomy defines products and services that can be considered green, social 
or sustainable, and it aligns to guidance provided in the European Union Taxonomy1. 
We have started implementing it in Corporate and Investment Banking, Commercial 
Banking, Auto and other Consumer Finance portfolios. The SFCS aims to provide a  
harmonized framework for measuring green and social finance and to facilitate growth. 
In 2021, prior to implementation of the SFCS, Santander US 
supported clients through execution of transactions in the 
following categories:
 
Ź Structured Finance, Renewable Energy: Santander US has supported transactions 
that amounted to $7.8 billion in total deal size (among all syndicate members, 
including Santander US and others), with a total year-end Santander exposure  
of $3.1 billion
 
Ź Debt Capital Markets, Green and Sustainability-Linked Bonds in the US & LatAm: 
Santander US has participated in transactions that amounted to $20.8 billion in 
total deal size (among all syndicate members, including Santander and others)
 
Ź Sustainability-Linked Loans2: Santander US has participated in transactions with 
a total deal size of $79.2 billion
RENEWABLE ENERGY FINANCE
Santander is a global leader in renewable project finance, including financing of wind 
and solar projects, with a specific, global expertise in offshore wind. We have supported 
more than $24B of debt in new transactions since 2018 in the US, including Project 
Finance ESG and Fund Finance ESG deals. 
VINEYARD WIND I 
Santander US provided construction and term financing of the first large-scale  
(800 MW) offshore wind farm in the US off the coast of Massachusetts. It is  
expected to generate renewable energy for more than 400,000 homes and 
businesses, while reducing carbon emissions by more than 1.6M tons per year.
This project finance work is instrumental in driving Santander Group to meet our 
shared, public commitment of raising and facilitating €120 billion in green finance  
by 2025 and €220 billion by 2030.
ENVIRONMENTAL
Santander X Environmental  
Challenge: a global call for  
entrepreneurs with innovative 
solutions aimed at building 
a more sustainable future. It 
launched through Santander 
Universities in 2021 to support 
innovative companies and 
entrepreneurs working to 
address climate change and 
committed to building a more 
sustainable future.
»
1 For more information see, European Commission, EU Taxonomy for Sustainable Activities, which provides a set of definitions for green, social and sustainable activities. 
https://ec.europa.eu/info/business-economy-euro/banking-and-finance/sustainable-finance/eu-taxonomy-sustainable-activities_en.
2  These loans are designed to incentivize customers to set and achieve ambitious green, social and sustainable targets. In these facilities the loan terms align to the borrower’s
     performance as measured by agreed upon Key Performance Indicators. Customers are rewarded or penalized based on performance.
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

ESG SOLUTIONS
In 2021, Santander US created the ESG Solutions team within Corporate and Investment Banking. This team has propelled significant 
growth in debit capital markets and sustainability-linked-loan activity. 
ELECTRIC VEHICLE LENDING
Santander Consumer is a leading auto financer, serving about three million customers. As part of our effort to provide green solutions for  
individuals and businesses, Santander Consumer provided loans and leases for plug-in hybrid vehicles totaling $697M in 2021. This was  
a roughly 10-fold increase from $69M in 2020, facilitated by customer incentives and the introduction of a new hybrid model.
As both supply and demand grow, and the US market transitions toward greater electrification of vehicles, including plug-in hybrid and battery 
electric vehicles, Santander US is well positioned to support our auto manufacturing partners and customers with EV financing options.
RESPONSIBLE WEALTH MANAGEMENT AND INVESTMENT SERVICES
Santander US offers responsible investment options to private banking and retail banking customers.
Through Banco Santander International we offer holistic private banking and investment services to high-net-worth individuals and non- 
US residents, with a focus on Latin America. In early 2022, BSI had $352.1M assets under management (AUM) in ESG funds and carried  
162 ESG funds.1
Santander Bank offers a variety of products to US retail customers, including ESG investment solutions for individuals and businesses. In early 
2022, Santander managed about $77.7M AUM via responsible investment products across brokerage products and managed accounts.2
1  Funds are classified as ESG Funds based on meeting criteria established by Bloomberg.
2  Responsible investment products focus on ESG-impact strategies, as defined by the fund manager. ESG criteria or requirements may differ product to product, but typically rely on a 
combination of research and third-party ESG ratings.
ENVIRONMENTAL
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

Branch Sustainability 
Workshops 
 
In early 2022, Santander US ran 
workshops in collaboration with 
Gensler, a leading sustainability 
architecture, design and  
planning firm.
The output of the workshops  
was a practical roadmap to  
help us improve sustainability 
performance on new projects  
and renovations across our  
branch network. It incorporates 
our public commitments to  
reduce environmental impact,  
including emissions, and is  
informed by best-practice  
standards for sustainability  
and healthy buildings, including 
Leadership in Energy &  
Environmental Design (LEED),  
Fitwel®, WELL Certification and 
WELL Health-Safety Ratings.
Reducing Our Environmental Footprint
——
Santander US has a branch network spanning nine states and corporate 
operations across 10 states. This requires us to manage our facilities in  
a sustainable manner and to seek ways to continue to reduce our  
environmental impact.
We focus on three key areas:
	
f Reducing and offsetting CO2 emissions
	
f Reducing and responsibly managing consumption
	
f Raising awareness of environmental issues
FACILITY DESIGN AND MANAGEMENT
As we design or redesign our facilities, we do so with an eye toward  
environmental impact and our global environmental commitments.
Our sustainability and energy efficiency plans include many elements,  
such as:
 
Ź Increasing renewable energy usage through long-term  
purchase agreements 
 
Ź Installing energy management systems, temperature and lighting  
control, and water reduction technologies 
 
Ź Optimizing use of space
 
Ź Creating better commuting options, including mass-transit  
commuter benefits, subsidized electric car charging for employees  
and bike facilities
 
Ź Use of green cleaning products to the extent possible
 
Ź Construction material recycling
 
Ź Recycling at all properties
 
Ź Monitoring of energy, water, waste and other consumption
 
Ź Increased use of sustainably sourced products (for example, furniture,  
equipment, etc.)
In 2021, we achieved our goal of a 100 percent reduction in the use of 
unnecessary single-use plastics across our Santander US sites. This includes 
elimination of vending machine items to the extent possible, plastic water 
bottles, as well as office kitchen items such as cups or stirrers.
ENVIRONMENTAL
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

ENVIRONMENTAL
132M 
trees saved
140,000,000
million BTU energy 
use avoided
6.5B
pounds of solid 
waste eliminated
118B
gallons of water 
saved
99B
pounds of CO2 
equivalent avoided
26.9%
reduction in paper 
consumption
SPOTLIGHT: PAPERLESS INITIATIVE
Santander Bank has embarked on a journey to reduce paper consumption through 
the simplification and digitization of processes within our offices and branches. In 
doing this, we are working to meet our clients’ and colleagues’ digital expectations 
and contributing to a sustainable future. 
Through significant process improvements, investment in technology and  
education, the retail branch network achieved a 26.9 percent reduction in paper 
in 2021, surpassing its 20 percent goal. Several districts across the footprint were 
able to achieve more than a 40 percent reduction. This reduction in paper has the 
following estimated lifecycle environmental impacts.1
1	Lifecycle environmental impacts based on reduction of 5,504,144 short tons of paper with impacts calculated based on the methodology provided by Environmental Paper Network. 
https://c.environmentalpaper.org/individual.html
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

ENVIRONMENTAL
CATEGORY
UNIT
2021
2020
NOTES
INVESTMENT
Sustainability 
Investments
$
$3,661,060
$1,880,385
Includes Santander Bank sustainability investments such as 
renewable energy credits, EV chargers, building certifications, 
lighting and heating, ventilation and air conditioning systems. 
EMISSIONS
Total emissions 
(market based)
tCO2e
22,194
29,669
Includes Scope 1, Scope 2 (market based) and Scope 3  
(indirect from employee travel).
Scope 1 
CO2 emissions
tCO2e
5,427 
6,234 
Includes emissions from the direct consumption of energy (e.g., 
natural gas and diesel) as defined by the Greenhouse Gas (GHG) 
Protocol. To calculate these emissions, DEFRA 2021 and DEFRA 
2020 emissions factors were applied.
Scope 2 
Indirect from 
electricity, 
market based
tCO2e
14,649
19,997
Includes emissions from electricity consumption as defined by the 
GHG Protocol. To calculate these emissions, the International Energy 
Agency (IEA) emission factors for 2017 were applied. Zero emissions 
are considered for the portion of green energy consumed.
Scope 2 
Indirect from 
electricity,  
location based
tCO2e
28,193 
30,817 
Includes emissions from electricity consumption as defined 
by the GHG Protocol. The emission factor of the IEA has been 
applied to the total electricity consumed, regardless of its source 
(renewable or non-renewable).
Scope 3 
Indirect from 
employee 
travel
tCO2e
2,118
3,438
Includes employee commuter emissions (car, carpool, rail) and 
employees’ business travel by air and car. Surveys and other 
estimates used to determine the distribution of employees 
by type of travel. DEFRA 2021 and 2020 factors were used to 
calculate emissions from employee travel. Estimates based on 
the number of parking spaces were used to estimate the number 
of employees travelling to work in their own vehicles. Carpool 
travel was calculated based on the average distance travelled by 
the vehicles rented. Data on business trips by car from Santander 
Consumer is not available. The reduced occupancy levels in 2021 
contributed to the lower GHG emissions recorded.
CO2 per  
employee
tCO2e/FTE
1.5
1.9
Total emissions (market based)/year-end employee count
Retired  
Carbon Units
#
24,727
31,337
Certified Emissions Reduction (CER) units
Environmental Footprint – Key Metrics
24
2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

ENVIRONMENTAL
CATEGORY
UNIT
2021
2020
NOTES
ENERGY
Total energy 
consumption
kWh
67,217,618
67,592,763
Includes Santander Bank and Santander Consumer.
Green  
electricity 
consumption
kWh
32,054,652
24,000,000
Includes Santander Bank and Santander Consumer.
Electricity from 
renewable 
sources
%
47.7
35
Includes Santander Bank and Santander Consumer.
25
2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

CHAPTER 4 — SOCIAL
1 Includes 2021 Paycheck Protection Program lending.
25,404 
volunteer hours
Nearly 50% 
job openings 
filled internally
400+ 
partner  
organizations 
supported
$553M 
Small Business  
Administration 
(SBA) lending1
100,000+ 
people helped
641,000+ 
hours leadership  
& professional 
growth classes
$18M 
charitable giving
$20 
minimum 
wage; 
nearly triple 
the federal 
minimum
$321M 
affordable 
housing tax
credit 
investments
Social
——
At Santander US, we believe responsible banking includes providing inclusive 
products and services to help our communities prosper, succeed and grow. 
Whether for individuals and families, small businesses or entire communities, 
we work to build paths to prosperity. 
26

Santander US’ community development activities are anchored in our products and services, philanthropy,  
community partnerships and volunteer service, with a signature Inclusive Communities Plan at Santander Bank.
 
In 2021, Santander Bank concluded its Inclusive Communities Plan – an $11 billion, five-year commitment to community development 
lending and investments, philanthropy and volunteering across its Northeast footprint. We are proud to have exceeded our commitment 
by investing $14 billion – more than 21% above goal. Since 2017, the Bank has made the following investments: 
The commitment was made in collaboration with community stakeholders across the Bank’s footprint and the National Community  
Reinvestment Coalition (NCRC). In 2017, the Bank began executing against the Plan’s goals in partnership with hundreds of community nonprofit 
partners, stakeholders and Community Advisory Boards. As part of the Plan, the Bank formed a National Community Advisory Board  
and six regional boards, that are instrumental in advising the Bank on new product and program development, community impacts and 
needs and monitoring the Bank’s progress toward the Plan’s goals and commitments. 
MEMBERS OF THE NATIONAL COMMUNITY ADVISORY BOARD INCLUDE:
 
Ź Dan Betancourt, President & CEO, Community First Fund, Lancaster, PA
 
Ź Will González, Executive Director, Ceiba, Philadelphia, PA
 
Ź Phyllis Salowe Kaye, President, New Jersey Citizen Action, Newark, NJ
 
Ź Rev. Terrence Keeling, President & CEO, Central Baptist Community Development Corporation, Wilmington, DE
 
Ź Christie Peale, CEO & Executive Director, Center for New York City Neighborhoods, New York, NY
 
Ź Jesse Van Tol, President & CEO, National Community Reinvestment Coalition, Washington, DC
 
Ź Jaime Weisberg, Senior Campaign Analyst, Association for Neighborhood and Housing Development, New York, NY
 
Ź Clark Ziegler, Executive Director, Massachusetts Housing Partnership, Boston, MA
In 2022, Santander US continues to invest, lend and serve with a commensurate level of commitment in line with market conditions. We are 
partnering with our Community Advisory Boards and stakeholders to develop and launch a new, expanded strategic Inclusive Communities 
Plan across Santander US beginning in 2023.
We applaud Santander for surpassing its Inclusive Communities Plan commitments to the communities 
where it operates. Santander’s focus on partnering with community partners across its footprint was 
integral to expanding access to lending, investments and philanthropy in underserved neighborhoods.
Jesse Van Tol, President and CEO of NCRC
SOCIAL
$12.1B
in lending in 
underserved 
communities
$57M
in charitable 
contributions
$1.9B
in community 
development 
investments
10
new retail 
branches in LMI 
and communities 
of color
65,000+
community 
development 
volunteer hours 
in underserved 
communities
Santander Bank’s Inclusive Communities Plan
——
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

Philanthropy
——
Investing in community-based nonprofits increases Santander US’ ability to advance financial empowerment and inclusion, while helping 
people and businesses prosper in the communities we serve. Santander US is proud to have contributed more than $18 million to more than 
400 nonprofits in 2021.
In the US, Santander philanthropically supports our communities through corporate giving, the Santander Consumer USA Foundation and 
matching employee contributions. In 2021, Santander Bank contributed $12.1 million to 367 community nonprofit partners primarily within 
its Northeast and Florida retail banking footprint. Support focused on low- to moderate-income communities to help meet the needs of our 
communities in alignment with our Community Reinvestment Act (CRA) commitments. The Santander Consumer USA Foundation contributed 
nearly $6 million, including $5.6 million to 38 nonprofits primarily to address community development needs in Texas, Arizona and Florida. 
In 2021, Santander Consumer also gifted $60 million to the Foundation including a $50 million multi-year commitment to help support two 
efforts: addressing the digital divide and advancing the financial well-being of young adults. The digital divide effort seeks to address the 
widening gap between under-resourced members of society, especially low- and moderate-income, elderly and disabled individuals, and 
individuals who have access to computers, internet and the wealth and opportunity they can provide. This gift also provided $10 million so 
the Foundation could increase its annual community development grants from $6 million to approximately $10 million in 2022.
COMMUNITY DEVELOPMENT SPOTLIGHTS
 
f Junior Achievement – $300,000 in support from Santander Bank to provide low- and moderate-income students in kindergarten 
through 12th grade with financial literacy skills and the development of soft skills needed for future careers. Junior Achievement is also 
Santander Bank’s largest volunteer partner with 2,079 hours volunteered in 2021.
 
f Network for Teaching Entrepreneurship (NFTE) – $335,000 grant from Santander Bank to inspire young people from low-income 
communities to stay in school, recognize business opportunities and plan for successful futures through entrepreneurship. Santander 
Bank’s long-term support was recognized by NFTE in 2021 with the Volunteer of the Year Award.
 
f Year Up National - $300,000 from the Santander Consumer USA Foundation to provide general operating support for Year Up’s direct 
service education and workforce development program in Dallas, Texas; Mesa, Arizona; and Tampa, Florida.
 
f Southern Dallas Link - $100,000 for the purchase of three transport vans to support the Ride to Work program for individuals in need 
of reliable transportation for jobs that pay a living wage.
SUPPORTING COVID PANDEMIC RELIEF AND RECOVERY
Santander US works closely with our nonprofit partners to help address COVID recovery and relief efforts. Beginning in 2020, Santander US 
created flexibility in our philanthropic strategy and existing grants to support unanticipated and urgent needs arising from and related to the 
pandemic. This flexibility was maintained in 2021 to ensure our nonprofit partners could be responsive to recovery efforts. 
 
f Economic Security Project, COVID-19 Response Program – Santander Bank granted New Jersey Citizen Action $200,000 to support the 
operation of a comprehensive program supporting homeowners and renters, individuals and workers impacted from the pandemic. 
 
f Newark Working Kitchens – $40,000 grant from Santander Bank supporting a meal-ordering program run by local restaurants that 
repositioned their cooks, servers and delivery staff as frontline workers to deliver nutritious meals to Newark’s low-income seniors, 
families and homeless city residents facing food insecurity as a result of the pandemic.
 
f Get Shift Done - $50,000 in funding from Santander Consumer USA Foundation to support shift workers, primarily restaurant focused, 
as they find new work during the pandemic.
SOCIAL
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

$18M 
to support community  
nonprofits 
$1.9M 
in grants to 35 CDFIs
400+ 
nonprofits supported
$1,000 
corporate match annually for 
employees giving to nonprofits
42% 
Santander Bank grants were to  
organizations led by Black, indigenous, 
Hispanic/Latino or people of color
$50M 
commitment to address digital 
divide and financial well-being of 
young adults
DISASTER RESPONSE & RELIEF
Santander US provides assistance, in partnership with nonprofit, local and state entities, to support disaster relief in our communities 
through relief funds, volunteering and matching employee contributions. In the event of a natural or man-made disaster, Santander 
US works with partners to identify short-, near-, and long-term needs and seeks to respond appropriately to help communities recover. 
Spotlights of disaster relief efforts include:
 
f Hurricane Ida Relief – $20,000 to the American Red Cross to support the Hurricane Ida Fund to provide food, shelter and other  
recovery and relief services to individuals in need across impacted areas in New York, New Jersey and Pennsylvania.
 
f Champlain Towers South in Surfside, FL – $20,000 to the Salvation Army to fund emergency resources for displaced survivors  
and immediate family members of victims in response to the partial collapse of Champlain Towers South in Surfside, Florida.
 
f Texas Winter Storm Crisis – $100,000 to the Communities Foundation of Texas to support emergency assistance and long-term  
recovery needs related to the winter weather crisis in North Texas.
ELEVATING RACIAL & SOCIAL EQUITY
In 2020, Santander US advanced its philanthropic strategy to elevate racial and social equity and increase support to underserved communities  
of color. In the summer of 2020, Santander US announced a public, $5.2 million, multi-year commitment of near-term and long-term investments  
specifically focused to address racial equity in communities across the US. In 2021, Santander US began executing on its commitments, including 
$3 million to support Community Development Financial Institutions (CDFIs) led by individuals of color and $2 million to expand Santander’s  
Cultivate Small Business, diverse leadership training and racial and social equity initiatives. In 2021, Santander Bank continued to seek  
opportunities to elevate equity in its giving, resulting in 42% of all grants going to nonprofits led by individuals of color.
 
f Santander Bank’s CDFI Initiative - $3 million to 10 Black, Indigenous, People of Color and Latino-led CDFIs over three years ($100,000 
annually to each CDFI) starting in 2021, such as La Fuerza Unida Community Development Corporation that supports loan and technical 
assistance programs targeting diverse small business owners in Nassau County, NY, including the Empire State Small Business Revolving 
Loan Fund, Minority and Women Owned Business Enterprise (MWBE) Micro-Loan Program, Entrepreneurs of Color Loan Fund, and 
P.O.W.E.R. Technology Loan Fund for Women.
 
f National Urban League - $100,000 to support the expansion of the Entrepreneurship Center Program that provides management 
counseling, mentoring and training services for diverse entrepreneurs looking to start, grow or scale their businesses.
 
f African American Alliance of CDFI CEOs Inc. - $20,000 to support a growing coalition of more than 50 CEOs of CDFIs across the US 
leading the way to close the capital gap for businesses, real estate projects, housing and community assets in underserved areas with 
African American populations.
 
f Black Community Leaders Fund - $50,000 to support The Philadelphia Foundation’s Black Community Leaders Fund, which provides 
flexible grants and capacity-building support to Black-led nonprofits to build resilient organizations that serve Philadelphia neighborhoods.
 
f Dallas Hope Charities - $50,000 to provide food, shelter and services that instill dignity and stability for LGBTQ+ youth, ages 18-24.
 
f Dallas Truth Racial Healing and Transformation - $175,000 to create a radically inclusive city by addressing race and racism through 
narrative change, relationship building with a Dallas racial history tour and support for the Dallas Truth Racial Healing and Transformation 
racial cohort training.
PHILANTHROPY BY THE NUMBERS
SOCIAL
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

Community Partnerships
——
Partnerships with community organizations and nonprofits across our operating area strengthen the communities where we live and  
operate. Our roughly 15,000 employees bring life to these partnerships through their volunteer service, technical assistance provision, 
coaching and mentorships. As stewards of our company, our team members are able to make an incredible difference in our communities 
by giving back their most valuable resource – their time. 
As the impact of the COVID-19 pandemic continued in 2021, we engaged with our communities mainly in a virtual setting, providing more 
than 25,000 hours of volunteer service with more than 400 community organizations and nonprofit partners. At Santander Bank, 79 percent 
of volunteering occurred in low- to moderate- income communities, and 62 percent occurred in communities of color.
At Santander US, we know the value that volunteerism can provide in communities, especially underserved communities. To champion our 
employees and provide them with the opportunity to give back, we offer full-time employees 16 hours and part-time employees eight hours 
of volunteer paid time off each year. We also seek to have our employees build deeper bonds with nonprofits through board service, so that 
we can invest our time and expertise in helping nonprofits grow and facilitate positive change in our communities. 
PARTNERSHIP SPOTLIGHTS 
Summer Youth Employment Program (SYEP) – Santander’s support of SYEP spans the New York and Philadelphia markets in  
collaboration with 13 community nonprofits to provide youth with real-world work experience, build financial competencies and  
access student banking services. Santander Bank collaborated with the FDIC to generate a financial literacy curriculum specifically for 
the initiative and provided digital financial training via the Bank’s partnership with EVERFI. The Bank logged more than 1,000 hours 
providing financial literacy to participating youth.
COVID Vaccine Outreach Initiative – More than 150 Spanish-speaking Santander colleagues volunteered with Ceiba in Philadelphia to 
contact more than 500 families to increase COVID vaccine awareness, and schedule and arrange transportation to vaccine appointments.
Food Insecurity – Santander invested $80,000 to provide more than 500,000 meals to families experiencing food insecurity during  
the 2021 holiday season. Nearly 200 Santander employees participated in 25 events across the US to help receive donations and pack 
food items for those in need. Santander logged more than 600 hours of service in support of the program, and matched employee 
contributions up to $500.
Future Bankers and Internship Camp – Santander supported the Center for Financial Training at Miami Dade College (MDC) to bring 
the Academy of Finance programs to the Miami-Dade County Public High Schools. Students received bank teller training and real-life 
experiences at summer internships at local employers, including BSI. Students also received summer school credits and can apply for 
dual- enrollment credits toward an associate degree from MDC.
Preparing Students for Back-to-School – Santander colleagues partnered with the Dallas Mayor’s Back-to-School Fair to fill more than 
10,000 backpacks with school supplies and loaded them into cars during a live drive-thru event to provide families with essential school 
supplies for their student- aged children.
Santander’s responsiveness and dedication are evident through the  
commitment of over 150 volunteers to reach Spanish-speaking families  
in under-resourced communities with COVID-19 vaccination solutions and  
access. Our neighborhoods’ economic and social recovery from the pandemic 
can only be achieved through high vaccination rates, and Santander has  
fulfilled a major role in helping to attain recovery from this devastating virus. 
Will González, Executive Director, CEIBA (Philadelphia)
»
»
»
»
»
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

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25,404 
employee volunteer hours
400+ 
nonprofits supported
46,169 
individuals counseled on 
financial education
11,650 
community development volunteer 
hours at Santander Bank, with 62% of 
hours being in communities of color
618 
hours providing COVID-19  
vaccine awareness and  
outreach to LMI communities
16 
hours of volunteer paid-time off 
per full time employee annually
COMMUNITY PARTNERSHIP BY THE NUMBERS
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

Santander Universities
——
For more than 25 years, Santander Group has had an innovative, long-standing commitment to supporting 
inclusive, sustainable growth through higher education. This global commitment, led through Santander 
Universities, focuses on education, employment and entrepreneurship, setting us apart from the world’s other 
financial institutions. These efforts have led to more than EUR 2.1 billion in investment across 1,000 institutions 
in 15 countries, and have supported more than 790 million students, professionals and small- and medium-
sized enterprises (SMEs).
The history of investing in education continues at Santander US where, in 2021, we provided more than $1.3 million to 13 universities,  
colleges and community colleges across the US, resulting in 212 scholarships and support to more than 90 entrepreneurs. In the US, 
Santander Universities focuses on partnering with universities, colleges and community colleges to increase access to higher education  
and continuing education through Santander Scholarships, with a focus on expanding entrepreneurship through key partnerships with 
higher education and the global Santander X platform.
ADVANCING EDUCATION THROUGH SANTANDER SCHOLARSHIPS
Santander Scholarships provide access to higher education and academic mobility through scholarship funding, with a particular focus in 
the US on first-generation and underserved students. Santander also seeks to expand access to important reskilling and upskilling programs 
through its new global educational programming launched in 2021 on the Santander ‘Becas’1 platform. These programs provide opportunities 
for all ages and profiles, with special attention to address market needs through: 
 
Ź Reskilling: Helping participants acquire new knowledge and skills in different areas, enhancing their professional versatility and increasing 
their career-change options.
 
Ź Upskilling: Providing training in soft and hard skills to drive more efficient adaptation to current roles at a time of deep transformation 
and digitalization within companies.
EXPANDING ENTREPRENEURSHIP IN PARTNERSHIP WITH HIGHER EDUCATION
Santander US seeks to expand entrepreneurship, aligned with its local community development aims and global programs, by leveraging 
higher education’s expertise and leadership roles in our communities. Key higher education partnership spotlights include: 
Babson College – In 2017, Santander’s Cultivate Small Business was launched in Boston in collaboration with Babson and community 
nonprofit partners, Commonwealth Kitchen and Initiative for a Competitive Inner City (ICIC), to help early-stage underserved food-
based small businesses. In 2021, the programming expanded to New Jersey and the groundwork was laid to expand to six markets in 
2022, including Boston, New Jersey, New York City, Philadelphia, Miami and Dallas.
Columbia University – Santander US has had a long partnership with Columbia to provide specialized training to mid-sized Latin American 
companies through their Entrepreneurship and Competitiveness Program. The program focuses on on helping founders and C-suite 
professionals grow in today’s global environment. Our relationship continues to expand with Columbia through their Columbia- Harlem 
Small Business Development Corporation (SBDC), which helps businesses and entrepreneurs in New York City. 
Santander US supports emerging SMEs and entrepreneurs across the globe through our Santander X  
platform (santanderx.com), which provides training and resources to help them grow and prosper. 
Santander X runs “challenges” open to companies across the globe to support the most promising and 
innovative solutions to address societal challenges and opportunities. 
In 2021, Santander X launched three global challenges focused on (1) Environmental – promoting a low-carbon economy, (2) Helping 
Businesses Prosper – seeking innovative, scalable solutions to help SMEs make the digital transition, and (3) Finance for All – promoting 
solutions to help enable all members of society to obtain banking products and services.
Santander further supports our global community of startups and scaleups through “Santander X 100”; a program to help advanced-stage 
ventures from different countries to network and access advice, training, capital, clients, talent and other valuable resources. Current 
members are from Argentina, Brazil, Chile, Germany, Mexico, Spain, the UK and the US.
»
»
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1 Santander University global platform offering scholarships in subjects such as technology, languages, research, soft skills, professional practices or women’s leadership. becas-santander.com/.
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

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Supplier Diversity
——
At Santander US, we understand that building a diverse and representative company includes who we hire, how we build our culture and who 
we do business with – suppliers and vendors. By identifying opportunities for diverse suppliers, we’re contributing to the growth of companies 
who may operate in our neighborhoods, hire a diverse workforce of their own and contribute to the communities that impact our business.
In 2021, Santander US formally launched our supplier diversity program to enable a supply chain that is inclusive of women-, minority- and  
veteran- owned businesses, small and other diverse businesses. To do this, we take steps in the procurement process to drive competitive bidding, 
innovation and business growth. Often, diverse suppliers have less red tape and are more nimble, flexible and faster than traditional vendors.
Santander US defines diverse suppliers as enterprises that are at least 51 percent owned by one or more of:
 
Ź Small businesses as defined by the US SBA or a valid supplier diversity council or government agency
 
Ź Minority Business Enterprises (MBE)
 
Ź Woman-owned
 
Ź Veteran-owned
 
Ź LGBT-owned
Santander US spends more than $1.5 billion annually in the procurement process. We are committed to increasing our spend with diverse 
suppliers in collaboration with community-orientated organizations, such as diverse supplier councils, chambers of commerce and other 
groups helping underserved and diverse suppliers.
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

Community Development Finance
——
Community development lending and investments facilitates economic development, affordable housing  
and community building. Santander Bank actively seeks to invest in community development projects  
through lines of business and the Community Development Finance (CDF) team. In 2021, the Bank’s  
qualifying community development financing activity included more than $107 million in loans and  
$501 million in investments.
Santander Bank launched the specialized CDF team in 2017 with the purpose of intentional, responsive community development lending 
and investments within its operating footprint. CDF focuses on helping people and business prosper through financing affordable housing, 
small business equity investments and lending to Community Development Financial Institutions (CDFIs). Building strong and healthy 
communities is at the core of CDF’s efforts.
CDFI FINANCING 
Santander Bank’s CDFI lending program proactively seeks transformative initiatives led by CDFIs that increase access to capital to support 
small business, home ownership and consumers. The mission-based program is meant to expand opportunities for borrowers unable to 
acquire traditional bank financing. Santander works with CDFIs to provide capital with flexible terms through variable and fixed-rate pricing. 
Since 2017, Santander has provided $63 million to three CDFIs focused on providing capital to advance access to affordable home ownership 
and small business. Santander believes CDFIs are vital engines to foster healthy, affordable and inclusive communities, and seeks to also 
support CDFIs through its seven-year CDFI Grant Initiative and volunteer service.
$608M
total lending and investments
$321M
affordable housing tax  
credit investments
1,303
affordable housing  
units created
$107M
affordable housing  
construction and equity 
bridge loans
4,209
tenants placed in  
affordable housing
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COMMUNITY DEVELOPMENT FINANCE BY THE NUMBERS
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

CDF SPOTLIGHT — 250 CENTRE STREET, JACKSON SQUARE STATION (BOSTON)
Santander Bank provided $12.3 million in low-income housing tax credit equity and $20 million in construction lending to finance 110 
units, including 56 income-restricted units. This new-construction, transit-oriented housing development is part of the Jackson Square 
Redevelopment Initiative in Jamaica Plain and Roxbury at Jackson Square Station. Here more than eight acres of vacant land is being 
transformed into an affordable, vibrant and walkable community. The project was built in accordance with the City of Boston’s net zero 
carbon emissions standards for affordable housing and features sustainable design.
250 Centre Street, Jackson Square Station in Boston, MA. 
Image provided by ICON Architecture
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250 Centre Street has been a community-driven effort focused on restoring 
the historical Jackson Square community. Our strong partnerships, including 
with Santander, have helped us strengthen this community by creating jobs, 
aiding local businesses and building more affordable housing.
Bart Mitchell, President and CEO, The Community Builders
»
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

Small Business
——
Small businesses are critical to our economy, communities and future – providing services, goods and  
jobs, and creating opportunities for entrepreneurship and innovation. Santander is dedicated to helping  
entrepreneurs and small businesses profit and grow by helping them access products and capital,  
business education and mentorship needed to start and scale their companies.
In 2021, Santander Bank provided 17,424 small business loans for $1.6 billion, including 4,769 loans for $440 million in low- to moderate- 
income communities. Our bankers work to ensure that we provide our customers with the products and services that best suit their business 
needs to help them succeed, including SBA loans. 
PAYCHECK PROTECTION PROGRAM
In 2021, Santander Bank participated in the third round of funding for the Paycheck Protection Program (PPP), providing 7,806 loans for 
$460 million. For the life of the program, Rounds One through Three, results included:
In Round Three of funding, Santander Bank launched a Special Purpose Credit Program for Minority- and Women-Owned Businesses, 
which was aimed at increasing access to PPP for these underserved small businesses. Santander partnered with small business-focused 
nonprofits and CDFIs across its footprint seeking referrals and providing assistance to qualifying borrowers.
19,928
loans for $1.8B
$88,436
average  
loan size
176,000
positively  
impacted jobs
73%
of loans were to 
businesses with 
10 employees  
or fewer
24%
of loans were for 
businesses operating 
in underserved  
low- to moderate- 
income areas
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17,424
small business loans
4,769
loans in LMI  
communities
$1.6B
in small business 
loan financing
$440M
in LMI community 
loan financing
SMALL BUSINESS BY THE NUMBERS
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

SANTANDER’S CULTIVATE  
SMALL BUSINESS
Santander’s Cultivate Small Business program 
was launched in 2017 and is designed to help 
early-stage underserved food-based  
entrepreneurs and small businesses, especially  
women, individuals of color and immigrant- 
owned businesses. Cultivate Small Business 
began in Boston in partnership with Babson  
College, The Initiative for a Competitive Inner 
City and CommonWealth Kitchen. The  
immersive program provides a four-month long 
industry- specific education program, along 
with resources including business coaching and 
mentorship, professional networks and capital 
seed grants to help their businesses grow. 
In 2021, the program expanded from Boston  
to two locations in New Jersey. Previous cohorts 
averaged approximately 30 participants, but  
the expansion grew the program to 92  
graduates in 2021.
In 2022, Cultivate Small Business will continue 
to grow, with expansion to six key markets 
across Santander US’ footprint, including  
Boston, New Jersey, New York City,  
Philadelphia, Dallas and Miami.
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

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Homeownership
——
Santander Bank has historically provided home lending products to meet the diverse needs of our customers 
throughout our operating areas, including a variety of mortgage products that helped our customers meet 
their homeownership goals. We remain dedicated to helping our communities prepare for home ownership 
through education, programming and technical assistance.
In 2021, Santander Bank provided more than 22,000 loans totalling $7.5B. Our employees worked closely with partner community  
organizations and nonprofits to educate customers and community members through first-time home-buying seminars, with a particular 
focus on supporting the homeownership needs of low- to moderate-income families. In 2021, our colleagues delivered over 1,185 hours 
of homeownership curriculum to more than 8,000 people. Additionally, our charitable contributions prioritize funding to nonprofits that 
provide and create affordable homeownership access in our communities. 
In February 2022, Santander Bank announced its decision to discontinue its mortgage and home lending product originations to focus on 
other strategic growth areas across the Bank. For existing mortgage and home equity clients, the Bank continues to service and support 
their accounts and service the loan portfolio as the Bank evaluates strategic options for the remaining book of business. While the Bank will 
stop originating mortgages and home equity lines of credit, we will continue to be a committed partner to the communities and clients we 
serve, through volunteer service, technical assistance and charitable contributions to nonprofits who continue to work to meet the needs  
of homebuyers across our footprint.
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

Supporting Our Customers
——
Achieving our mission of helping people and businesses prosper requires a constant focus on the customer, 
ensuring they are at the center of all we do. This includes an understanding of customer experience and  
challenges they may face. The pandemic and resulting economic turmoil meant customers experienced  
new and different types of adversity. This challenged us to look more deeply at our policies and practices  
to understand how we could better support our customers and communities.
Our commitment to be Simple, Personal and Fair guides us in our work to continually improve products and services, ensuring they are 
responsible. With respect to our customers, our work starts with product development and extends through the lifecycle of all products, 
services and customer relationships. To bring this to life we focus on several areas:
1.	 Product development and marketing. Products and services must meet specific customer needs and be simple. Customer service  
and marketing support awareness and understanding of products. These efforts comply with legal and regulatory requirements.
2.	 Customer relationships. Relationships, whether in a branch, on the phone or with a large commercial client, support identified needs 
with appropriate products and information.
3.	 Customer experience. We seek continuous improvement in customer experience through a variety of feedback channels, research  
and analytics.
We’ve taken lessons from the pandemic, and feedback from our customers and Community Advisory Boards, to further enhance our 
businesses and ensure more customers have and maintain access to affordable financial services. Ultimately this is good for our customers’ 
financial health, our communities and our company.
CARE PROGRAM: AUTO FINANCING
Launched in May 2021, a specialized team works with vulnerable customers, including individuals facing long-term hardship, to provide 
accommodations designed to ensure customers maintain access to vehicles and credit. Customers can qualify for a wide range of monetary 
relief, including balance, rate and other term adjustments. In 2021, about 177,000 customers, representing $182M in balances, received 
monetary assistance. 
SANTANDER® SAFETY NET: SANTANDER BANK
In October 2021, we launched Santander® Safety Net, which raised the no-fee overdraft threshold to $100 and applied it to all clients. At 
time of implementation, this was the highest overdraft threshold of any traditional US bank1. Safety Net also eliminated overdraft transfer 
fees and reduced the daily fee cap by half. 
 
Ź Since launch, 41% of accounts that would have been charged at least one overdraft fee under the prior program have not received any 
overdraft fees and 75% of accounts received fewer fees than they would have.2
 
Ź On average, week-to-week, 47% of accounts that overdraw aren’t hit with a fee.
 
Ź Client complaints about overdraft fees are down 40% from the weeks prior to launch.
CUSTOMER COMPLAINTS 
Santander US has established a complaints management program that is consistent with our corporate values and the laws and  
regulations that govern our activities. The program and supporting policy ensures that complaints relating to Santander US’ products,  
services and business practices are resolved in line with all applicable legal and regulatory requirements, supports customer relationships, 
and, as appropriate, improves business practices. Complaints are formally identified, tracked and addressed. Business lines routinely 
analyze complaints for trends and perform a root cause analysis to develop action plans. Oversight of processes and programs is achieved 
through a combination of business management forums and formal governance committees.
1  Traditional bank defined as brick-and-mortar bank with physical branches, as compared to online-only banks with no physical presence. https://www.fdic.gov/consumers/consumer/
news/april2020.html.
2	Data as of June 29, 2022.
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

Talent and Human Capital
——
At Santander US, our nearly 15,000 employees are the backbone of our company  
and our greatest commitment is ensuring their success – both professionally and  
personally – so they are equipped to be the best they can be in their work, in our  
communities and at home. Our robust Talent and Human Capital framework is  
focused on empowering employees to thrive throughout their careers.
TALENT ACQUISITION AND MANAGEMENT 
At Santander US, our people are our greatest strength and we are committed to creating career opportunity for top talents from a range of 
backgrounds and experiences. From our internship and rotational programs for early-stage talent, to full-time and part-time opportunities 
for experienced professionals, Santander US is a great place to build a career. We offer strong support for internal mobility, and encourage 
pathways through the organization, all in a dynamic environment that values and celebrates the unique talents, skills and experiences of 
each employee. Our results speak for themselves – almost half of all job openings in 2021 were filled by internal candidates.
REFLECTING THE COMMUNITIES WE SERVE
We know that diversity of thought, experiences, backgrounds, beliefs and identities make us a stronger organization. We are deeply  
committed to increasing representation in our workforce to ensure we mirror the communities in which we work and live. In Talent Acquisition, 
this means ensuring we are identifying, engaging and considering representative slates of candidates and ensuring that all candidates are 
consistently assessed against a clear set of qualifications and competencies. We are also working to ensure we are fostering access and 
removing barriers to opportunity that have disproportionately impacted historically underrepresented populations. Collaborating with our 
Employee Resource Groups (now seven groups strong), building meaningful relationships with professional organizations and institutions 
that serve historically underrepresented populations, and forming partnerships with DirectEmployers, FairyGodBoss, GlassDoor and other 
platforms and services are just a few mission-critical components of our ecosystem of partners in progress.
ADDRESSING GLOBAL CHALLENGES, SEIZING OPPORTUNITY 
In 2021, we were subject to the same global challenges and market phenomena that other businesses faced, but we were not  
deterred in our recruitment efforts and in bringing top talent to the organization. “The Great Resignation” impacted and continues to  
impact our organization, but with great change comes great opportunity, and we have used these changes in our workforce to ensure  
our organizations are structured correctly and that our teams are optimized for efficiency. Frequently changing COVID mandates, new  
competitors for talent (with an increase in remote employment opportunities), and our need for talent in a new geographic footprint in 
Florida necessitated shifts in our strategy and concentration of recruitment efforts in new segments and markets. 
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

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15,000
Santander US 
employees
7
Employee  
Resource 
Groups  
with 3,600+ 
members
Nearly 
50%
job openings 
filled internally
3.3 
hours
average annual 
Compliance, Risk 
and Regulatory 
training time  
per employee
$20
minimum  
hourly wage, 
nearly triple  
the federal 
minimum
TALENT AND HUMAN CAPITAL BY THE NUMBERS 
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

Job  
Category
Gender
White
Hispanic/
Latino
Black/
African 
American
Asian
Other
% of 
Employee 
Population
Executive/
Senior Level 
Managers
Women
Men
20%
14%
7%
19%
2%
2%
1%
7%
1%
2%
0%
1%
First/Mid Level 
Managers
Women
Men
28%
33%
9%
9%
6%
5%
3%
5%
1%
1%
7%
8%
Professionals
Women
Men
22%
28%
10%
10%
8%
6%
6%
8%
1%
1%
15%
17%
All Others
Women
Men
28%
22%
17%
9%
17%
5%
5%
5%
2%
1%
35%
16%
TOTAL
Women
Men
26%
22%
13%
9%
12%
5%
5%
5%
2%
1%
58%
42%
Age
Count
Percent
Less than 25
1,215
8%
26-35
3,870
26%
36-45
4,081
27%
46-50
1,716
12%
Over 50
3,994
27%
Workforce Distribution by Race, Ethnicity, Gender and Employment Category
Ninety-six percent of Santander US employees are full time and four percent of employees are part time.
Data as of December 31, 2021, using job, race and ethnicity categories defined by the Equal Employment Opportunity Commission.
Workforce Distribution by Age
Racial and Ethnic Diversity at a Glance
10%
Asian
3%
Other
48%
White
22%
Black/African 
American
17%
Hispanic/
Latino
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

RETURNSHIP PROGRAM
We enhanced our diversity recruiting through our 
Returnship Program. The Returnship Program is a paid 
internship for experienced professionals who’ve left the 
workforce for various reasons – maybe to have children 
or care for an ill family member – and are ready to 
return. The Returnship Program seeks to convert  
participants to regular employees at its conclusion.
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

EMPLOYEE LEARNING AND DEVELOPMENT
We invest in professional development for our colleagues, including tools and guidance for maximizing learning on the job. All colleagues 
take part in our performance management process, which includes defined performance, career and development conversations as well  
as year-round check-ins with their managers. We also offer career coaching, mentoring, professional networking, rotation opportunities, 
and both virtual and classroom instruction. Our Learning and Development team designs and delivers a wide range of innovative learning 
experiences that build new skills. In addition to our internal curriculum, in 2021, we offered LinkedIn Learning, Open Sesame and EdX, 
providing quick and easy access to thousands of online courses and videos on topics including leadership, business skills, technology and 
personal development. All colleagues can use the platform to grow in their current role, prepare for their next career move and develop  
their skills and talents.
Learning and Development by the numbers: 
	
f In 2021, employees participated in 641,070 hours of leadership, management and professional  
growth classes 
	
f On average, all employees participate in 3.3 hours of compliance, orientation and risk and regulatory 
learning and development
 
DEVELOPING LEADERS THROUGH INTERNAL LEADERSHIP PROGRAMS
Our in-house leadership programs provide colleagues globally and locally with tools and support to gain new experiences, skills and  
capabilities to thrive in their careers.
 
Ź Young Leaders: This nine-month experience is a one-of-a-kind global program specially designed to target individuals that are in the 
early stages of their careers and takes place in a unique environment called the Young Leaders Smart City. This city-based experience  
allows participants to live a wonderfully immersive and challenging experience. They discover new people and visit places that will  
help them to grow as leaders, gain visibility, and be aware of the necessary skills to lead (and design) the future.
 
Ź Mundo Santander Program: Mundo is an exciting opportunity for participants to step out of their comfort zone while working on an 
international project. It provides participants with the opportunity to either travel to a Banco Santander host country or select a virtual 
project, leverage existing skills and develop new ones, experience new cultures and collaborate on a project for three to six months. 
 
Ź Thrive: This development program focuses on boosting the careers of women with backgrounds in science, technology, engineering  
and math (STEM) and business into leadership positions by providing them with resources required to drive their professional growth.  
The program includes three main activities including development workshops, career coaching and mentoring. Each participant  
defines a customized development plan with the Global HR team and gains visibility and builds relationships across the organization. 
All employees complete the following trainings:
 
f I AM Risk: Operational Risk
 
f I AM Risk: Passport Risk Culture
 
f I AM Risk: Reputational Risk 
 
f Code of Conduct
 
f Privacy 
 
f Anti-Money Laundering 
 
f Information Security 
 
f Data Management 
 
f Safety at Santander 
 
f Maintaining a Safe Workplace 
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

SUPPORTING AND REWARDING EMPLOYEES 
Our approach to compensation and benefits programs is designed to support our employees and their families, as well as support  
engagement and well-being.
COMPENSATION
Our compensation philosophy centers on three guiding principles: 
 
Ź Our approach allows Santander US to attract and retain the right talent to drive business success
 
Ź We strive to be market competitive and thoughtful in our decision making, while considering available budget and associated impacts
 
Ź Our compensation decisions should always be grounded in fairness
This approach allows us to attract and retain top talent and reinforces our culture and core values. We pay equitably and competitively, 
while focusing on rewarding those who make the greatest contributions. We believe when employees are accountable to deliver the right 
work in the right way, then they should be rewarded for it. 
Our compensation philosophy complements our career framework structure. This framework promotes employee growth by ensuring  
employees have a better understanding of the roles available at Santander US and the competencies required to move within the organization.
All employees receive mid-year and year-end reviews, which focus on career development and progression as well as performance.
BENEFITS
We offer comprehensive benefits that are market-competitive and provide employees and their families with choices. In 2022, all full-time 
and part-time employees who work at least 20 hours are eligible for these benefits.
Santander US offers a range of benefits options to support our workforce, including:
Our values of being Simple, Personal and Fair are embedded in our benefits since we strive to ensure our benefit choices are easy to  
understand and we provide a range of options that are competitive, affordable and sustainable. More information on benefits is available in 
our 2022 Santander benefits guide.
We understand that today’s home and work lives require a benefits package that meets employees where they are and provides more  
than just the traditional benefits. In 2021, we created our first Maximize Your Benefits Guide that focuses on different life events to help 
employees better understand how they can layer the benefits we offer to address their needs at different times of their lives.
INCREASING HOURLY WAGES 
We continue to increase wages for hourly paid employees. In early 2022  
we increased our minimum hourly wage to $20 for branch team members 
and operations employees at Santander Bank and Santander Consumer.
By the Numbers
 
Ź $20/hr. is nearly triple the federal minimum wage and higher than  
most competitors
 
Ź Santander Bank’s minimum wage has increased 33% over the last four years
 
Ź Santander Consumer’s minimum wage has increased 16% in just two years
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f Medical & Prescription
	
f Dental & Vision 
	
f Tax-advantaged accounts
	
f Life insurance & AD&D
	
f Business travel accident
	
f 401(k)
	
f Short-term & Long-term 
disability
	
f Paid time off & leave programs
	
f Voluntary benefits
	
f Employee assistance program
	
f Well-being program
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

In 2022, Santander introduced Your Voice, 
a quarterly pulse survey that enables more 
frequent feedback and faster and more 
effective responses to employees.
SOCIAL
Our medical coverage goes beyond the standard coverage – we have layered on additional benefits and programs to support our  
employees when they need it, including cancer support programs, neonatal resource services and complex concierge services. 
We also established a first-of-its-kind, out-of-network mental health benefit to ensure that employees can see out-of-network therapists  
on a regular basis at a fixed cost.
Our retirement program supports employees’ futures by providing a 6% employer matching contribution, up to Internal Revenue Service 
limits. During 2021, employee participation increased and we supported employees’ financial education by hosting webinars and conducting 
campaigns for employees to maximize their matching contributions. 
Our leave and disability programs support employees when they need time away from work because of illness or to assist family members. In 
2021, we increased the amount of short-term disability benefits and increased the amount of weeks of paid leave for new mothers. Our Parental 
Leave Program provides all new parents with 6 weeks of pay at 100% that can be utilized at any time during the first year of the child’s birth. 
Our Military Leave Program provides our employees who serve in the Armed Forces with differential pay for up to 52 weeks for active duty 
service and up to 20 days for reservists. We expanded our Military Leave Program to provide employees with five days of fully paid time off  
if a spouse or child is deployed for active duty to ensure that the family has time before and/or after the deployment to spend time together. 
To ensure that our employees had time to get and recover from the COVID-19 vaccine, we implemented a new Vaccine Time Off Program, 
providing all employees with eight hours of paid time off to get or recover from the vaccine or a booster. 
During 2021, we continued to partner with our ERGs to ensure we offer benefits that support our diverse populations. With Thrive, we 
expanded the resources we provide caregivers with new Elder Care and Enhanced Family Support Programs through Bright Horizons, one 
of our benefit partners. 
Be You, Be Well Program 
In 2021, we launched the program in partnership with Limeade® to provide employees with 
tools and resources to support their physical, mental/emotional and financial well-being. The 
platform provides resources and coaching to help individuals and families on their wellness 
journeys. When employees reach certain well-being points levels, Santander US makes a 
donation to Feeding America.
ENGAGEMENT
Developing and maintaining the diverse and talented workforce that will propel us forward requires a focus on employee engagement. 
Listening to and learning from our employees helps ensure that we are creating an environment where employees can do their best work 
and that our culture and values are well supported. 
To this end, each year Santander conducts a global engagement survey designed to gather employee feedback and better understand  
employee sentiment. We use this feedback to continuously improve our businesses. Despite the many challenges of the pandemic,  
74 percent of employees reported satisfaction with Santander US as a place to work.
	
f 87% of employees participated in the survey
	
f Results improved on 42 of 43 comparable questions
	
f 85% of employees have trust in their manager
	
f 83% feel treated with respect and dignity
 
The survey also provided critical insight on areas we can continue to improve, including simplifying processes and encouraging cross- 
function collaboration. 
SUPPORTING OUR COLLEAGUES THROUGHOUT THE PANDEMIC
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Diversity, Equity & Inclusion (DEI)
——
A strong corporate culture with a diverse, equitable and inclusive workforce is critical to being a responsible bank and to better serving our 
communities, while also positioning us to capture and equitably address demographic and societal changes. DEI is a business imperative, 
aimed at helping to create an inclusive workforce where all can not only grow but thrive in their careers. Our philosophy leads with inclusion, 
diversity being the outcome, and equity serving as the way to get there. We define diversity beyond gender, race and ethnicity. Diversity is 
the ongoing journey to help people connect and truly appreciate and value our differences. Concentrating on our employees motivates us  
to know them at a deeper level, leading us to support them better. We believe that personal well-being facilitates professional success. 
OFFICE OF DIVERSITY, EQUITY & INCLUSION (ODEI)
Santander US launched the ODEI in 2018 with the focus on working to embed DEI capabilities across the entire organization. The ODEI 
focuses on innovative programming and impact across four key pillars: Workforce Inclusion, Workforce Diversity, Community Impact  
and Sustainability. 
EMPLOYEE RESOURCE GROUPS
Employee Resource Groups (ERGs) are one of many ways we engage our employees in the work to build a more inclusive culture. Employee 
support begins by creating a community where employees can share their experiences and celebrate all the things that make them different 
while creating a safe space for cultural curiosity. The ERGs serve as a component of Santander’s DEI governance structure, playing a pivotal 
role in not only fostering a diverse and inclusive workspace by being open to all employees and allies, but also helping to promote career  
development and pathways. 
 
Ź Asian and Pacific Islander (AAPI): supports development and  
growth of AAPI employees and allies
 
Ź Black Organization for Leadership and Development (BOLD):  
supports the development and growth of Black employees and allies
 
Ź Conexión: supports development, empowerment and growth of 
Latino/a and Hispanic colleagues and allies
 
Ź Embrace: supports Lesbian, Gay, Bisexual and Transgender and 
other gender or sexual identities (LGBTQ+) employees and allies
 
Ź EmpowHER: supports the development, empowerment and growth 
of women and allies 
 
Ź Thrive: supports colleagues who identify as caregivers or are living 
with cognitive and physical differences and allies
 
Ź VET: supports active and retired military employees and allies
The seven current ERGs are:
3,600+
ERG members across our 
networks
7
Employee Resource Groups
180
events and initiatives  
engaging ERG members 
and employees
SOCIAL
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

With this in mind, we implemented many successful internal initiatives to help our employees flourish. Some notable successes of our DEI 
efforts last year: 
 
Ź DEI Training for Leaders and Management Toolkit – All our senior leaders completed “Consciously Inclusive Leadership Training,” which 
provided in-depth bias training that included a multi-layered approach addressing bias, inclusive leadership, epic advocacy and race and 
racism. In addition, the Manager’s Toolkit encourages and supports manager-led conversations about diversity with their teams. The 
toolkit includes presentation decks, activities, learning opportunities and more to help managers foster a more inclusive and equitable 
work culture.
 
Ź Mentorship ARC (Advise. Relate. Cultivate.) Program – More than 10 percent of Santander Consumer employees took part in  
Mentorship ARC, which provides a unique lifecycle of mentoring in which participants can envision being both a Mentor and a Mentee, 
depending on where they are in their career development journeys.
 
Ź Operation HOPE: HOPE Inside Program – We partnered with Operation HOPE to offer HOPE Inside, an award-winning financial wellness 
program, to Santander Consumer employees. HOPE Inside is aimed at providing financial wellness workshops and one-on-one personal 
coaching sessions to educate and transform thinking about making decisions over money, building wealth and working toward financial  
independence. Santander Consumer has hosted more than 53 workshops with nearly 4,000 participants to date. In 2022, HOPE Inside  
has been expanded to all Santander US colleagues.
 
Ź The Diversity & Inclusion Council – Santander Consumer established a D&I Council to build a sustainable culture that values diversity, 
inclusion and equity for employees, vendors and communities that results in Santander Consumer being known as a successful financial 
services company and an employer of choice.
 
Ź Through Our Eyes Presentation Series – Each summer a panel speaker series is conducted to bring a greater sense of cultural awareness 
to colleagues and serve as an open forum to discuss social issues.
 
Ź Advocacy Program – We launched a program to invest in the advancement of 100 of our top Black employees throughout the organization 
creating growth opportunity and access to senior leaders.
LOOKING AHEAD
We plan to do more to recognize, develop and promote our diverse workforce throughout the upcoming year, as well as provide additional 
diversity leadership resources for our leaders.
International Women’s Day 2022: #BreakTheBias Event
SOCIAL
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SOCIAL
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Governance
——
CHAPTER 5 — GOVERNANCE
50

Corporate Governance
——
A strong corporate governance program is the foundation of a sustainable company and one that is trusted  
by its stakeholders and the communities it serves. Our principles guide us, and our frameworks, policies and  
controls ensure we behave responsibly in all we do. We are continuously evaluating and refining our processes  
and structures to promote transparency, effectiveness and accountability in service of inclusive and 
sustainable growth. 
Key Policies that Support our ESG Strategy
 
Ź Code of Conduct: Establishes the ethical principles and rules employees must follow
 
Ź Corporate Social Responsibility Policy: Provides guidelines on company culture and philanthropy, sustainability principles for our 
businesses and operations and Human Rights commitments
 
Ź Enterprise Risk Management Framework: Lays out the processes to identify, assess, monitor and manage risks across all operations
 
Ź Reputational Risk Policy: Details identification and management of environmental and social risks in key sectors, as well as how we 
assess reputational threats
 
Ź Governance Framework: Establishes the governance structure, principles, roles and responsibilities for the organization, including Board 
and management committee structure, executive organization and escalation and reporting protocols
 
Ź Selection, Suitability and Succession Policy: Sets forth the criteria for selection, appointment, suitability assessment and succession  
of members of the Board of Directors’ within SHUSA and its key subsidiaries
Other core policies set out our practices for ensuring complete, fair and accurate financial reporting, the parameters for the protection of 
information and systems and resources and protocols for working with vendors and external parties.
GOVERNANCE
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GOVERNANCE
BOARDS OF DIRECTORS
There are five Boards of Directors in the US, which support and oversee the strategy and operations of key entities, including SHUSA, SBNA, 
SC, SIS and BSI. These Boards provide oversight of, and guidance to, executive management in the development of strategy as well as risk, 
culture and talent management. Specifically, these Boards oversee and hold senior management accountable for effectively implementing 
an enterprise-wide fair, lawful, informative, efficient and policy-based governance system. They oversee management’s adherence to 
policies and procedures, as well as applicable laws and regulations. 
The SHUSA Board is comprised of a combination of independent, executive and Banco Santander representative directors with a diverse 
range of backgrounds, experiences and expertise. This variety of skills and points of view enhances oversight and risk management. 
BOARD COMMITTEES 
The SHUSA Board delegates certain responsibilities to Board Committees, which oversee management directly through its five  
standing Committees:
 
Ź Audit Committee: assists in oversight of the integrity of the consolidated financial statement reporting and disclosure processes, controls 
over financial reporting, compliance with legal and regulatory requirements, Code of Conduct reporting and the qualifications and  
performance of Internal Audit and Credit Risk Review functions and SHUSA’s external auditors. 
 
Ź Compensation and Talent Management Committee: oversees the establishment, maintenance and administration of SHUSA’s and its 
subsidiaries’ compensation and talent management programs including performance evaluation, compensation and succession planning 
of key executives. Oversees adherence to applicable regulatory and industry standards and assists in oversight of company culture and 
diversity, equity and inclusion efforts.
 
Ź Nominations Committee: assists in oversight of governance practices and structures and the Board’s identification of individuals who are 
qualified to become Board members.
 
Ź Risk Committee: assists in oversight of enterprise-wide risk management responsibilities, including with respect to risk appetite limits, 
asset quality, regulatory compliance, capital and liquidity planning and ESG risks. 
 
Ź Executive Committee: assists in execution of the Board’s authority when it is not practical or possible for the Board to meet.
Each Board and management committee operates pursuant to its respective charter, which sets forth the responsibilities, membership and 
scope of authorized governance activities. 
EXECUTIVE MANAGEMENT 
Our management structure encourages effective leadership that is consistent with our corporate standards and promotes a strong  
corporate culture. We manage our company on a line-of-business basis, while also maintaining strong corporate functions and governance. 
Santander US has six senior management committees, including three risk committees. These committees support the Board, provide  
a path for escalation of risks and execute effective operations, strategy and risk decisioning1.
Many senior management committees are further supported by additional committees that execute specific functions aligned to businesses, 
programs or risk types. 
1 Management committee structures may differ slightly across subsidiaries based on the nature and complexity of the individual businesses.
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GOVERNANCE
MANAGEMENT AND OVERSIGHT OF ESG 
The full Board retains oversight of ESG matters, with the support of Board committees based on their areas of responsibilities including, but 
not limited to, ESG risk, talent and diversity, equity and inclusion. 
In alignment with the broad nature of ESG work, ESG functions are executed by a variety of teams across the firm, including among others: 
 
Ź The Corporate Social Responsibility team, which designs and implements community partnerships and philanthropic programs, along 
with working with the lines of businesses to expand social finance and access to banking services and products. 
 
Ź The ESG Office, which reports to the head of Corporate Social Responsibility and is responsible for coordination and development of the 
ESG strategy, stakeholder engagement, supporting business initiatives and reporting. 
 
Ź The Office of Diversity, Equity and Inclusion, which leads development and implementation of our DEI strategy. 
 
Ź Enterprise Risk Management and Climate Risk, which coordinate and develop our approach to managing climate risk as well as adherence 
to our environmental and social risk standards. 
 
Ź ESG Solutions and other lines of business, responsible for design and execution of green and social finance opportunities.
 
Ź Facilities, Operations and Corporate Services, which work to minimize the environmental impact of our operations and address  
environmental and social issues across our supply chain.
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GOVERNANCE
At Santander, risk management is everyone’s job and each team member has a role to play as we manage  
our businesses to protect customers, clients and other stakeholders from risks in the financial system and to 
maintain the safety and soundness of Santander US and its entities. 
APPROACH 
The Board, management and employees are guided by our Enterprise Risk Management (ERM) Framework, Risk Appetite Statement and 
strong, I AM Risk Culture which, together, create a common understanding of the type and amounts of risk Santander US is willing to take  
to execute our strategy and deliver greater stakeholder value. 
RISK APPETITE 
Risk appetite is defined as the level and types of risk an institution is willing to accept, even in unforeseen circumstances, to achieve its  
strategic business objectives. Risk appetite considers a variety of adverse scenarios that could have a negative impact on capital, liquidity 
and profitability. The Board reviews and approves the Santander US strategic plan, which aligns to risk appetite by risk type and business. 
ERM FRAMEWORK 
The Framework articulates the elements required for the comprehensive, consistent and effective identification, assessment, control, 
monitoring and reporting of risks across all business activities and support functions based on the structure, risk profile, complexity, 
activities and size of Santander US. 
Our risks are categorized into 10 risk types. These categories capture traditional and emerging risks: 
Risk Management
——
Capital
The risk of not holding sufficient capital to ensure a firm’s safety and soundness, to support its business plans, to satisfy current 
and future regulatory and internal capital requirements and to meet market expectations. 
Compliance
The risk of legal or regulatory sanctions, financial loss, or damage to reputation resulting from failure to comply with laws, 
regulations, rules, other regulatory requirements, or codes of conduct and other standards of self-regulatory organizations 
applicable to the banking organization. 
Credit
The risk of financial loss arising from the default or deterioration in credit quality of a customer or counterparty to which a firm 
has provided credit or for which it has assumed a financial obligation. 
Liquidity
The risk that a firm does not have sufficient financial resources to meet its obligations as they fall due, or can secure them only at 
excessive financial cost.
Market
The risk of financial loss resulting from adverse movements in market rates or prices, including, but not limited to, interest rates, 
foreign exchange rates or equity prices.
Model
The risk of loss arising from inaccurate predictions causing a sub-optimal decision, or from a model being implemented or  
used inappropriately. 
Operational
The risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. This definition 
includes legal risk but excludes strategic and reputational risks. 
Reputational
The risk of current or potential negative economic impact due to damage to the perception of Santander US and BSNY brand by 
employees, customers, shareholders/investors and the wider community. 
Residual
The risk of financial loss that may occur if, at the end of a lease contract, even if the obligor has complied fully with his or her 
financial obligations under the contract, the actual proceeds realized by the firm upon the sale of returned assets are lower than 
the projection of the expected value used in establishing the pricing at lease origination.
Strategic
The risk of financial loss or damage arising from failure to achieve the strategic business plan due to adverse business decisions, lack of  
responsiveness to industry or environmental changes or poor implementation of decisions through inappropriate deployment of resources. 
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GOVERNANCE
MATERIAL RISK PROGRAM 
Santander US, including all subsidiaries, executes a Material Risk Program to provide timely, clear and comprehensive identification,  
assessment and reporting of material risks. Outputs from the Material Risk Program are used in a variety of contexts, including risk 
appetite setting, capital planning, strategic planning and overall risk ownership and monitoring activities. 
The program is a continuous process and evaluation that results in a material risk inventory of emerging, evolving and key risks that are 
assessed and prioritized according to possible impact, including financial, regulatory or reputational impact, as well as likelihood. 
RISK CULTURE 
I AM Risk is our strong risk culture, and part of our DNA of being Simple, Personal and Fair. I AM Risk is based on the principle that all 
employees are risk managers. I AM Risk is a core pillar of our broader global culture, which requires consideration of all risks in the 
promotion of socially responsible management and long-term sustainability. 
Taking personal responsibility can make a difference as we:  
 
 
 
To support our I AM Risk culture, all employees must annually complete the following trainings:
Business  
Strategy
Risk Appetite  
Statement
Other risk management processes: Underwriting, Rating, Customer Engagement, etc.
Risk Policies and Frameworks
RISK MANAGEMENT CYCLE
Identification  >  Planning  >  Assessment  >   
Monitoring  >  Mitigation  >  Reporting
Credit  •  Market  •  Liquidity  •  Capital  
Operational  •  Reputational  •  Others
<   C L I M A T E  A N D  E N V I R O N M E N T A L  R I S K   >
L E A R N I N G ,  D E V E L O P M E N T  &  I  A M  R I S K  C U L T U R E
In addition, environmental and climate-related risk drivers, whether related to physical risk or risks associated with economic transition to  
a lower-carbon economy, are considered as factors that could impact the existing risks in the medium and long term. 
 
Ź Identify risks and opportunities 
 
Ź Assess their probability and impact 
 
Ź Manage the risks and suggest alternatives 
 
Ź Report, challenge, review, learn and “speak up”
 
Ź I AM Risk – Operational Risk
 
Ź I AM Risk – Passport Risk Culture
 
Ź I AM Risk - Reputational Risk 
 
Ź Code of Conduct
 
Ź Privacy 
 
Ź Anti-money Laundering
 
Ź Information Security 
 
Ź Data Management 
 
Ź Safety at Santander 
 
Ź Maintaining a Safe Workplace 
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GOVERNANCE
RISK GOVERNANCE 
Santander US’ strong risk governance structure ensures effective oversight of our operations in line with our risk appetite. Our risk 
management relies on a three lines of defense model, with separately defined roles and responsibilities.
All lines of 
defense are 
responsible  
for risk  
identification 
and  
assessment, 
internal 
controls and 
monitoring 
and reporting.
FIRST LINE  
OF DEFENSE
Includes businesses and functions 
that take or originate exposure to 
risk. The first line owns, identifies, 
assesses, manages and reports on 
risks. Risk taking must be within 
approved risk appetite limits.
SECOND LINE  
OF DEFENSE
Includes Risk and Compliance 
functions. It defines risk 
frameworks and policies, 
independently monitors risk 
exposures, implements risk controls, 
and reviews and challenges the 
first line to ensure that risk is 
managed within our risk appetite.
THIRD LINE  
OF DEFENSE
Comprises Internal Audit and an 
independent credit risk review 
function. It provides oversight 
of the first and second lines 
of defense, and independent 
assurance to the Board on the 
effectiveness of governance, risk 
management, compliance and 
internal controls.
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GOVERNANCE
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GOVERNANCE
Santander US is committed to achieving and maintaining compliance with all relevant regulations governing 
its conduct and business activities. The Santander US Compliance Enterprise Policy establishes a framework  
to manage compliance and ethics matters across Santander US. In addition, Santander US proactively  
supports the promotion of ethical business practices, including the principles established within the  
Santander US Code of Conduct.
SANTANDER US COMPLIANCE PROGRAM 
The Santander US Compliance program proactively covers: 
 
Ź Prevention of money laundering and terrorist financing
 
Ź Privacy and information security under the Gramm-Leach Bliley Act
 
Ź Consumer protection
 
Ź Conduct in the securities market
The Santander US Compliance program is established and overseen by SHUSA Compliance, with local subsidiary execution. The Santander 
US Compliance program delivers: 
 
Ź A firm-wide approach to compliance risk management and oversight
 
Ź Independence of compliance staff
 
Ź Effective compliance monitoring and testing
 
Ź Establishment of clear responsibilities of the Board and senior management regarding compliance risk management oversight 
GOVERNANCE 
The Santander US Governance Framework defines a hierarchy of Board and management level committees and outlines their duties and 
responsibilities for overseeing and supporting the implementation of Santander US’ risk management program. The Compliance program  
is supported by policies and procedures that clearly define requirements, roles and responsibilities to deliver an effective program.  
Management has implemented training and communication to educate and raise awareness of the applicable requirements. 
STANDARDS OF CONDUCT 
The Santander US Code of Conduct outlines principles of integrity and accountability that all employees and members of SHUSA and its 
subsidiaries must understand and follow. These principles align with our core values and should be reflected in professional conduct to help 
ensure that Santander US’ reputation remains intact. Employees and Directors are expected to play an active role in maintaining a strong 
corporate risk culture by working to do what is ethical for our customers and our business. Employees have a duty to promptly report any 
known or suspected violations of law, regulations or the Code, using the processes described in the Code. 
CONSUMER PRACTICES 
Santander US has established effective risk management practices to ensure appropriate governance, monitoring and tracking of adherence 
to the applicable regulations. Santander US ensures that complaints relating to our products, services and business practices are resolved in 
a way that strengthens consumer relationships; identifies, assesses, manages and reports risk, including conducting root-cause analysis to 
improve business practices; and promotes an environment of continuous improvement. 
Compliance
——
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GOVERNANCE
We demonstrate our commitment to maintaining the highest ethical 
standards by adhering to fundamental principles of human rights 
across all our business activities. 
We are guided by the United Nations Universal Declaration of Human Rights and the 
Guiding Principles on Business and Human Rights as the key frameworks detailing our 
respect for human rights in our operations and interactions with stakeholders. 
Our commitment to human rights is documented in various policies and procedures that 
govern our approaches to business, risk management and supply chain.
Human Rights
——
Santander US supports 
the fundamental 
principles of human 
rights across all 
our operations and 
business activities.
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GOVERNANCE
At Santander US, we care about our customers and go the extra mile to earn their trust and loyalty. We ensure 
that customer information is protected and secure. We only use customer information as agreed, and we 
maintain compliance with applicable laws and regulations. 
PROTECTING CUSTOMERS FROM FRAUD 
We are always on guard to protect our customers, continuously improving our safeguards to support detection of fraud or  
unauthorized use in our customers’ accounts. In addition to monitoring customers’ accounts and transactions, we provide education  
through customer email campaigns to raise awareness of continuously evolving fraud risks. New campaigns in the last year included:
	
f Unauthorized Funds – Protect Yourself 
	
f Elder and Vulnerable Adult 
	
f Financial Abuse Awareness 
	
f Phishing Awareness – Keep Your Accounts Secure 
	
f Cyber Shopping – Online Shopping Safety
 
Lastly, we provide a standing resource to our customers on our Privacy and Security site with information and recommendations addressing 
current trends such as phishing/smishing1, identity theft, account take-over and financial abuse. 
INFORMATION SECURITY 
Our commitment to protecting customer, employee and Santander data is reflected in our continued investment in our Information Security 
Program and our people. With the information security environment and threats continuously changing, we have established a robust set of 
policies, processes and tools that enable Santander to adapt and mature, keeping customers and Santander safe. 
Our Information Security Program is led by our Chief Information Security Officer (CISO) with more than 100 team members. The CISO 
reports to the Santander US Chief Technology Officer (CTO), Group Head of Cybersecurity, and Santander US Chief Risk Officer (CRO).  
Information Security risk is proactively managed. The Program is reviewed regularly by Information Risk Management and Internal Audit, 
and the CISO meets monthly with the Santander US CEO and Executive Committee to review important information security matters. The 
Santander US Board of Directors annually reviews and approves the Information Security Program and is provided with regular updates. 
Santander has established a strong foundation  
of governance, policies and procedures based on 
industry frameworks and best practices, including 
the National Institute of Standards and  
Technology Cybersecurity Framework focusing  
on confidentiality, integrity and availability.
Santander employees, vendors, third parties  
and non-employees with access to Santander’s 
systems and information must adhere to  
Santander’s policies and standards. 
1	The fraudulent practice of sending emails (phishing) or text/SMS messages (smishing) purporting to be from reputable companies to induce customers to reveal personal information, 
such as passwords or credit card numbers.
Information Security & Privacy 
——
Confidentiality
Data is kept  
private. Data is 
only accessible  
by authorized 
individuals.
Integrity
Data can be  
trusted. Data has 
not been altered or 
tampered with and 
remains in its  
correct and  
reliable state.
Availability
Data is always 
available. Data  
is accessible on- 
demand by the  
authorized  
individuals.
For details on how to keep your 
money and information safe, 
visit www.santanderbank.com/
personal/privacyandsecurity
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GOVERNANCE
SECURITY TOOLS 
Santander US has a threat intelligence function that continuously monitors cyber threats around the world and gathers information and  
controls to apply to protect Santander from possible attacks. 
We have a suite of security tools and controls deployed as a multi-layered defense shield to continuously mitigate information security risks, 
threats and attacks. This includes investments in access management, network boundary protections, firewalls, email, ransomware and 
malware protections. These tools help to detect and prevent information security-related attacks from both inside and outside the company 
and reduce risk associated with information theft, loss and disclosure. In the event of an attack, our Information Security Program is set up 
so that we can quickly respond and recover with minimal impact to our business and customers. Rigorous testing is performed throughout 
the year to test defenses, response plans and the effectiveness of controls. 
Our people are the biggest defense in keeping Santander safe. We have a dedicated training and awareness program that provides all 
the necessary information and guidance for all team members to collectively protect our data and systems. Our training and awareness 
program also extends to our customers. Working closely with our business lines we focus on what matters to our customers, providing  
tips and information on how they can keep their data safe in the digital world. We are continuously improving information security controls 
to anticipate emerging threats from harmful actors, geopolitical situations and new technologies to keep Santander and our customers’ 
data safe. 
DATA PRIVACY 
Santander US is also committed to protecting our customers through our Privacy Program, which demonstrates our respect for customers 
by honoring customer choices when it comes to their personal information. The program has safeguards in place not only to protect 
customer information, but also to ensure that customers are provided opportunities to exercise meaningful choices as to the information 
they provide, how it is used and who that data is shared with. 
We have a dedicated Privacy Office that oversees the Privacy Program and ensures we comply with our internal- and external- 
facing polices and all applicable federal and state regulations. The Privacy Office is managed by a Chief Privacy Officer (CPO) who provides 
reporting to executive management and the Board to ensure privacy matters are transparent and prioritized appropriately. 
We maintain an internal microsite for employees dedicated to understanding privacy. For our customers, we have a Privacy and Security 
Center, which provides education on what our policies are, how they can protect themselves and how we protect them. 
Data Privacy Day
Every January 28th we celebrate Privacy 
Day – a day focused on educating  
our employees on privacy matters.  
Events include panel discussions and 
information on key topics such as 
protecting children online, identity theft 
and the internet of things.
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Santander US participates in the public policy process 
through our Government Relations and Public Policy  
function to anticipate changes and have a voice in  
legislative and regulatory developments on a wide range 
of issues that may impact the company and the customers 
and communities we serve. Our legislative and political  
activities are conducted in accordance with company  
policies and procedures for compliance with federal,  
state, and local laws and regulations. 
Santander US’ advocacy efforts are led by the Santander US  
Government Relations and Public Policy team, and are executed at the 
local, state and federal levels by registered lobbyists. Federal lobbying  
activities are disclosed in accordance with the Lobbying Disclosure 
Act, which requires quarterly reports to be filed with the US Congress. 
Non-federal lobbying activity is disclosed to appropriate local and state 
agencies as required by law. Federal and non-federal lobbying disclosure 
reports are publicly available. 
Santander US maintains a Policy Action Committee (PAC) as part of its 
Government Relations function so Santander employees may have a voice 
in the political process. The PAC is funded through voluntary contributions 
from eligible exempt employees and contributes to federal candidates 
and members of Congress that support Santander US’ policy issues. The 
PAC is governed by a PAC Board that sets the PAC’s strategy and approves 
its spending and activities. All PAC contributions to federal candidates are 
disclosed to the Federal Election Commission and are publicly available.
Public Policy 
——
GOVERNANCE
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GOVERNANCE
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Appendices
——
CHAPTER 6 — APPENDICES
64

Material Topic Definitions
APPENDICES
ENVIRONMENTAL 
Operational GHG  
Emissions and Reductions
Commit to reduce GHG emissions released:
1.	 By the business through its buildings, transportation, and other essential activities (known as Scope 1); 
2.	As a result of the business operations through its suppliers and utilities (known as Scope 2); and 
3.	 Emissions from activities and assets that Santander doesn’t own or operate such as financed emissions 
and employee commuting (known as Scope 3).
Green Finance
Support our customers in their transition to a low-carbon economy by embedding environmental factors 
in products and risk analyses, and by supporting the growth of sustainable financial product markets.
ESG & Climate  
Risk Management
Ensure our risk management framework incorporates customers’ and operations’ environmental (e.g., 
climate) and social (e.g., human rights) risks, and outline them in policies and procedures.
Portfolio Alignment to Net 
Zero achieved by 2050
Analyze our portfolios’ carbon footprints and align them with the Paris Agreement by taking actions to 
steer them to net zero, applying climate methodologies and setting targets.
Biodiversity / Ecological 
Conservation
Manage the impact of our financial products and services on ecosystems and biodiversity through whom 
we lend to and consideration of natural resource extraction, cultivation and project development.
Operational Footprint
Reduce direct operational and indirect value chain impacts through energy and water management; the 
use and recycling of materials; and green building design (including initiatives for employees to assess and 
reduce their footprint).
SOCIAL
Community  
Engagement  
and Support
Facilitate engagement with community stakeholders through both financial and non-financial means such  
as volunteering and donation programs, partnerships with higher education institutions and local leaders  
to provide educational opportunities, and offering funds and low-cost loans to small-businesses and  
organizations that represent arts and culture, civic affairs, healthcare, education and human services.
Diversity, Equity  
and Inclusion
Create an equitable workplace and community that promotes and empowers team members with diverse 
backgrounds, identities and other factors.
Employee Well-being
Promote positive working conditions and offer programs aimed at supporting employee well-being, including 
physical, mental and financial health.
Fair & Equitable  
Compensation
Commit to fair pay and equal opportunities for all employees regardless of age, race, color, sex, gender, national origin, 
citizenship status, sexual orientation, religion, pregnancy, maternity, marital status, gender identity or expression, 
genetic information, disability, veteran status or any other status protected under federal, state or local law.
Human Rights
Monitor the company’s exposure to human rights violations and ensure that clients, employees and suppliers 
are respected throughout all our activities.
Social Inclusion
Provide access and advancement opportunities to minority and underserved communities in an effort to drive 
social inclusion and equity. 
Customer Experience  
and Satisfaction
Support customers and local economies with products and services that meet their needs. Provide services 
and products that are Simple, Personal and Fair. Innovate and use digital technologies to maximize access to 
products and services.
Financial Inclusion  
and Empowerment
Design, develop and deliver products and services that ensure access to the financial system and meet credit 
needs. Build resilience through financial education.
Talent Management  
and Development
Attract, engage and retain a productive and talented workforce with benefits and development opportunities. 
Ensure meritocracy.
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

Material Topic Definitions
GOVERNANCE 
Public Policy Practices
Comply with federal, state and local laws and regulations relating to political contributions, gifts to public 
or government officials, political action committees, lobbying and participation in political campaigns or 
any other activities that may involve political influence, while advocating for public policies that support 
the interests of the company, its clients and employees.
Systemic Risk 
Management
Continuously assess and manage risk across the business as well as within individual business units,  
products and services to serve the best interest of our clients and the communities in which they operate.
ESG Governance Structure
Design and implement an ESG governance framework that oversees completion of materiality assess-
ments, development of an ESG strategy and monitoring of the evolution of ESG practices.
Innovation &  
Technology
Contribute to the creation of products and services that enhance operations and customer experiences.
Information 
Transparency & 
Disclosure 
Provide clear and comparable business information in an accessible manner that demonstrates account-
ability and credibility.
Culture, Conduct & 
Ethical behavior
Ensure exemplary conduct across all operations by being Simple, Personal and Fair in all we do; embed 
I AM Risk culture and best-in-class policies and controls on employees’ conduct; promote transparency 
toward customers.
Privacy, Data Protection 
& Cybersecurity
Manage the risks from collecting, retaining and using personal information.
Operational & 
Business Resilience
Adapt to a changing environment (including adverse events), maintain the resilience of the business and 
build on strategic priorities.
Corporate Governance
Guarantee effective corporate governance to continue creating value for shareholders, allocating capital 
efficiently and ensuring profitable growth in a responsible way that meets our stakeholders' expectations. 
Responsible Procurement
Assess ESG in our supply chain to manage associated reputational and service-level risks.
APPENDICES
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

UN Sustainable Development Goals
End poverty in all its forms everywhere
Reduce inequality within and  
among countries
End hunger, achieve food security  
and improved nutrition and promote 
sustainable agriculture
Make cities and human settlements  
inclusive, safe, resilient and sustainable
Ensure healthy lives and promote well- 
being for all at all ages
Ensure sustainable consumption and  
production patterns
Ensure inclusive and equitable quality 
education and promote lifelong learning 
opportunities for all
Take urgent action to combat climate 
change and its impacts
Achieve gender equality and empower  
all women and girls
Conserve and sustainably use the oceans,  
seas and marine resources for sustainable 
development
Ensure availability and sustainable  
management of water and sanitation  
for all
Protect, restore and promote sustainable 
use of terrestrial ecosystems, sustainably 
manage forests, combat desertification, 
and halt and reverse land degradation and 
halt biodiversity loss
Ensure access to affordable, reliable,  
sustainable and modern energy for all
Promote peaceful and inclusive societies 
for sustainable development, provide 
access to justice for all and build effective, 
accountable and inclusive institutions at 
all levels
Promote sustained, inclusive and  
sustainable economic growth, full and 
productive employment and decent  
work for all
Strengthen the means of implementation 
and revitalize the global partnership for 
sustainable development
Build resilient infrastructure, promote 
inclusive and sustainable industrialization 
and foster innovation
APPENDICES
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APPENDICES
GRI Index
1 Unless noted, this index is prepared in accordance with the Consolidated Set of GRI Sustainability Report Standards 2020.
We report in accordance with the ‘core’ option for disclosure for the Global Reporting Initiative (GRI)
This report has been prepared in accordance with the GRI Standards: Core option, as detailed in the tables below and with corresponding 
references across our reporting. For more information about the Global Reporting Initiative, visit www.globalreporting.org.1
As our ESG disclosure evolves, we will continue to enhance our reporting and align to developments across standards, regulation and 
common practice. 
Topic-specific disclosures determined to be “non-material” and for which we do not provide significant content in this report have been 
omitted from this table. Certain information may not be disclosed if it is not considered material; is privileged or confidential; could cause 
a competitive disadvantage; or is not reportable in a manner that aligns to the related GRI indicator.
Disclosure 
Indicator
Comment
Reference
GRI 102: General Disclosures 
Organizational Profile
102-1
Name of the 
organization
 
Annual Report and 10-K, Item 1. Business  
ESG Report 2021, page 8
102-2
Activities, brands, 
products and services
 
Annual Report and 10-K, Item 1. Business  
ESG Report 2021, page 8
102-3
Location of 
headquarters
 
Annual Report and 10-K, Item 1. Business  
ESG Report 2021, page 8
102-4
Location of operations
 
Annual Report and 10-K, Item 1. Business, 
Item 2. Properties 
ESG Report 2021, page 8
102-5
Ownership and  
legal form
 
Annual Report and 10-K, Item 1. Business, 
Item 5. Market for the Registrant’s Common 
Equity, Related Stockholder Matters and Issuer 
Purchases of Equity Securities  
ESG Report 2021, pages 6, 8
102-6
Markets served
 
Annual Report and 10-K, Item 1. Business  
ESG Report 2021, page 8
102-7
Scale of the organization
Annual Report and 10-K, Item 1. Business, 
Item 2. Properties  
ESG Report 2021, page 8
102-8
Information on employees 
and other workers
 
Annual Report and 10-K, Item 1. Business  
ESG Report 2021, pages 8, 40-46
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APPENDICES
Disclosure 
Indicator
Comment
Reference
102-9
Supply Chain
Santander US does business with  
more than 3,500 suppliers across  
a wide range of product and 
service categories. Our third-party 
vendor spending is spread across 
categories such as banking  
services, real estate, professional 
services, technology, marketing, 
document production, travel and 
telecommunications, among others. 
Information on supplier diversity is  
provided within the ESG Report 2021.
ESG Report 2021, page 33
102-10
Significant changes to 
the organization and its 
supply chain
 On August 23, 2021 SHUSA 
entered into a merger agreement 
with SC under which SHUSA would 
acquire all outstanding shares 
of SC. The transaction closed on 
January 31, 2022.
Annual Report and 10-K, Item 1.  
Business, Item 15. Exhibits and Financial 
Statements Schedules  
ESG Report 2021, pages 6-8
Form 8-K, August 23, 2021
102-11
Precautionary Principle 
or approach
 
ESG Report 2021, pages 12-13, 19 
102-12
External initiatives
 
ESG Report 2021, pages 13-14 
102-13
Membership  
of associations
Santander is a member of several 
trade associations at both the 
national and regional levels. We 
participate in these organizations 
to engage in the consideration of 
policy issues that are emerging 
within our industry. Our national 
memberships include the American 
Bankers Association, Institute of 
International Bankers, Bank Policy 
Institute and Consumer Bankers 
Association, among others.
Strategy
102-14
Statement from  
senior decisionmaker
 
ESG Report 2021, page 4
102-15
Key impacts, risks,  
and opportunities
 
Annual Report and 10-K, Item 1A. Risk Factors, 
Item 7. Management’s Discussion and Analysis 
of Financial Condition and Results of Operations 
ESG Report 2021, pages 4, 10-13, 19-21
Ethics & Integrity
102-16
Values, principles, 
standards, and norms  
of behavior
 
ESG Report 2021, pages 4, 50-63 
Governance 
102-18
Governance structure
 
ESG Report 2021, pages 50-63  
SHUSA Board & US Leadership Team
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APPENDICES
Disclosure 
Indicator
Comment
Reference
Stakeholder Engagement 
102-40
List of stakeholder groups
 
ESG Report 2021, pages 11-12 
102-42
Identifying and  
selecting stakeholders
 
ESG Report 2021, pages 11-12
102-43
Approach to  
stakeholder 
engagement
 
ESG Report 2021, pages 11-12 
102-44
Key topics and  
concerns raised
 
ESG Report 2021, pages 11-13
Reporting Practice  
102-45
Entities included in  
the consolidated 
financial statements
 
Annual Report and 10-K, Item 1. Business  
ESG Report 2021, pages 6, 8
102-46
Defining report content 
and topic boundaries
 
ESG Report 2021, pages 6, 9, 12-13
102-47
List of material topics
 
ESG Report 2021, pages 11-13
102-48
Restatements  
of information
 
ESG Report 2021, page 6
102-49
Changes in reporting
There were no significant changes 
concerning material topics as 
this is the first Santander ESG 
Report that utilizes a materiality 
assessment. Information on the 
assessment can be found in the 
ESG Report.
ESG Report 2021, pages 12-13
102-50
Reporting period
 
ESG Report 2021, page 6
102-51
Date of most  
recent report
 
ESG Report 2021, Report Cover
102-52
Reporting cycle
 
ESG Report 2021, page 6
102-53
Contact point for 
questions regarding  
the report
 
ESG Report 2021, Report Back Cover
102-54
Claims of reporting in 
accordance with the  
GRI Standards
 
ESG Report 2021, pages 6, 68
102-55
GRI content index
 
ESG Report 2021, pages 6, 68-77 
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APPENDICES
Disclosure 
Indicator
Comment
Reference
102-56
External assurance
No external assurance is provided 
on this standalone report.  
 
Indirect external assurance is 
provided on select elements of the 
report, including some metrics, as 
part of the inclusion of this data in 
Banco Santander's Annual Report. 
Specifically, limited independent 
assurance was provided by 
PriceWaterhouseCoopers 
Auditores, S.L., regarding 
Santander Group's carbon footprint 
calculation according to ISO 14064. 
For information on Banco Santander’s Annual 
Report and external assurance see Santander 
Group Annual Report 2021 
ESG & Climate Risk Management 
GRI 103: Management Approach 
103-1
Explanation of the 
material topic and  
its boundary
 
ESG Report 2021, pages 12-13
103-2
The management 
approach and its 
components
 
Annual Report and 10-K, Item 1A. Risk Factors 
ESG Report 2021, pages 10, 19 
103-3
Evaluation of the 
management approach
 
ESG Report 2021, pages 10, 11, 19 
GRI 201: Economic performance 
201-2
Financial implications  
of risks due to  
climate change
 
Annual Report and 10-K, Item 1A. Risk Factors 
ESG Report 2021, page 19 
Portfolio Alignment to Net Zero 
GRI 103: Management Approach
103-1
Explanation of the 
material topic and  
its boundary
 
ESG Report 2021, pages 12-13 
103-2
The management 
approach and its 
components
 
ESG Report 2021, pages 10, 20-25 
103-3
Evaluation of the 
management approach
 
ESG Report 2021, pages 10-13, 20-25 
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APPENDICES
Disclosure 
Indicator
Comment
Reference
GRI 305: Emissions 
305-3
Other indirect (Scope 3) 
GHG emissions 
Santander US is not currently 
able to calculate all financed 
emissions, which constitute a 
significant portion of Scope 3 
emissions. As part of our net zero 
commitment, we are working 
toward calculation and reporting 
of Scope 3 emissions. 
ESG Report 2021, pages 10-13, 20-25
305-4
GHG emissions intensity
 
ESG Report 2021, page 24
Green Finance 
GRI 103: Management Approach 
103-1
Explanation of the 
material topic and  
its boundary
 
ESG Report 2021, pages 12-13 
103-2
The management 
approach and its 
components
 
ESG Report 2021, pages 10, 16-18, 20-21 
103-3
Evaluation of the 
management approach
 
ESG Report 2021, pages 10-13 
GRI 201: Economic performance 
201-2
Financial implications of 
risks and opportunities 
due to climate change
 
Annual Report and 10-K, Item 1A. Risk Factors 
ESG Report 2021, pages 19-21
Financial Inclusion & Empowerment 
GRI 103: Management Approach
103-1
Explanation of the 
material topic and  
its boundary
 
ESG Report 2021, pages 12-13
103-2
The management 
approach and its 
components
 
ESG Report 2021, pages 10, 26-49 
103-3
Evaluation of the 
management approach
 
ESG Report 2021, pages 10-13, 26-49 
GRI 413: Local communities 
413-1
Operations with 
local community 
engagement, impact 
assessments, and 
development programs
 
ESG Report 2021, pages 26-49 
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APPENDICES
Disclosure 
Indicator
Comment
Reference
413-2
Operations with 
significant actual and 
potential negative 
impacts on local 
communities
Santander US operations have 
no significant negative impact 
on the communities we serve 
and where we are located. 
Across our footprint we make a 
positive impact in communities 
by providing access to banking 
products and services, as well as 
through community partnerships, 
philanthropy and volunteerism. 
 
Diversity Equity & Inclusion 
GRI 103: Management Approach 
103-1
Explanation of the 
material topic and  
its boundary
 
ESG Report 2021, pages 12-13 
103-2
The management 
approach and its 
components
 
ESG Report 2021, pages 12-13, 40-48
103-3
Evaluation of the 
management approach
 
ESG Report 2021, pages 11-13, 40-48
GRI 405: Diversity and Equal Opportunities 
405-1
Diversity of governance 
bodies and employees
Reporting limited to employee 
population. Santander US boards 
are not included. 
ESG Report 2021, pages 40-48 
Employee Data at Santander
405-2
Ratio of basic salary  
and remuneration of 
women to men
 
ESG Report 2021, pages 3, 14
GRI 103: Management Approach
103-1
Explanation of the 
material topic and  
its boundary
 
ESG Report 2021, pages 12-13
103-2
The management 
approach and its 
components
 
ESG Report 2021, pages 47-48, 58
103-3
Evaluation of the 
management approach
 
ESG Report 2021, pages 11-13, 47-48, 58
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APPENDICES
Disclosure 
Indicator
Comment
Reference
GRI 406: Non-discrimination 
406-1
Incidents of  
discrimination and 
corrective actions taken
Santander is committed to 
providing equal employment 
opportunity for all colleagues 
and applicants regardless of age, 
race, color, sex, gender, national 
origin, citizenship status, sexual 
orientation, religion, pregnancy, 
maternity, marital status, gender 
identity or expression, genetic 
information, disability, veteran 
status, or any other status protected 
under federal, state, or local law. All 
employees receive training on our 
Code of Conduct, which provides the 
framework for non-discrimination 
across our operations. 
 
Colleagues may report complaints, 
including violation of the Code of 
Conduct, via multiple channels, 
including our 24/7, third-party 
Ethics Line or Portal. All  
complaints are confidential  
and may be anonymous. 
Complainants can track  
complaint status via the Portal. 
 
Upon receipt of any allegation of 
a violation, Santander conducts a 
prompt, thorough and impartial 
investigation. Violations of the 
Code are subject to appropriate 
discipline, up to and including 
termination of employment. 
Santander strictly prohibits 
retaliation against colleagues 
for reporting or assisting in an 
investigation. We maintain strong 
tracking and reporting capabilities 
to monitor compliance with key 
risk-mitigating controls in this area.
Customer Experience & Satisfaction 
GRI 103: Management Approach 
103-1
Explanation of the 
material topic and  
its boundary
 
ESG Report 2021, pages 12-13
103-2
The management 
approach and its 
components
 
ESG Report 2021, pages 39, 58 
103-3
Evaluation of the 
management approach
 
ESG Report 2021, pages 11-13, 39, 58 
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

APPENDICES
Disclosure 
Indicator
Comment
Reference
Talent Management & Development 
GRI 103: Management Approach 
103-1
Explanation of the 
material topic and  
its boundary
 
ESG Report 2021, pages 12-13
103-2
The management 
approach and its 
components
 
ESG Report 2021, pages 40-46
103-3
Evaluation of the 
management approach
 
ESG Report 2021, pages 11-13, 40-46 
GRI 401: Employment 
401-2
Benefits provided to full-  
time employees that are  
not provided to temporary  
or part-time employees
 
ESG Report 2021, pages 40-46 
Santander 2022 Benefits Guide 
GRI 103: Management Approach 
103-1 
Explanation of the 
material topic and  
its boundary
 
ESG Report 2021, pages 12-13 
103-2
The management 
approach and its 
components
 
ESG Report 2021, pages 40-46 
103-3
Evaluation of the 
management approach
 
ESG Report 2021, pages 11-13, 40-46 
GRI 404: Training and Education 
404-2
Programs for upgrading 
employee skills and 
transition assistance 
programs
 
ESG Report 2021, page 44
404-3
Percentage of 
employees receiving 
regular performance 
and career development 
review during the 
reporting period
 
ESG Report 2021, page 45
Privacy, data protection & cybersecurity
GRI 103: Management Approach 
103-1
Explanation of the 
material topic and  
its boundary
 
ESG Report 2021, pages 12-13 
103-2
The management 
approach and its 
components
 
ESG Report 2021, pages 58, 60-61 
103-3
Evaluation of the 
management approach
 
ESG Report 2021, pages 11-13, 58, 60-61 
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

Disclosure 
Indicator
Comment
Reference
GRI 418: Customer privacy 
418-1
Substantiated 
complaints concerning 
breaches of customer 
privacy and losses of 
customer data. 
Santander has a robust program 
in place to respond to complaints 
related to potential privacy 
breaches. The response program 
complies with applicable laws and 
regulations, including providing 
notices to affect individuals, 
regulators and other entities.
 
Information transparency & disclosure
GRI 103: Management Approach 
103-1
Explanation of the 
material topic and  
its boundary
 
ESG Report 2021, pages 12-13 
103-2
The management 
approach and its 
components
 
ESG Report 2021, pages 6, 51-53, 68-77 
103-3
Evaluation of the 
management approach
 
ESG Report 2021, pages 11-13 
Culture, conduct & ethical behavior 
GRI 103: Management Approach 
103-1
Explanation of the 
material topic and  
its boundary
 
ESG Report 2021, pages 12-13
103-2
The management 
approach and its 
components
 
ESG Report 2021, pages 50-63 
103-3
Evaluation of the 
management approach
 
ESG Report 2021, pages 11-13, 50-63 
ESG governance structure 
GRI 103: Management Approach 
103-1
Explanation of the 
material topic and  
its boundary
 
ESG Report 2021, pages 12-13
103-2
The management 
approach and its 
components
 
ESG Report 2021, pages 50-63
103-3
Evaluation of the 
management approach
 
ESG Report 2021, pages 11-13, 50-63
APPENDICES
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

While not considered material topics, Santander US has elected to report on the following topics in accordance with GRI Standards.
Disclosure 
Indicator
Comment
Reference
Operational GHG emissions and reductions 
GRI 103: Management Approach 
103-1
Explanation of the 
material topic and  
its boundary
 
ESG Report 2021, pages 12-13 
103-2
The management 
approach and its 
components
 
ESG Report 2021, pages 10, 22-25 
103-3
Evaluation of the 
management approach
 
ESG Report 2021, pages 11-13, 22-25
GRI 305: Emissions
305-1
Direct (Scope 1)  
GHG emissions
 
ESG Report 2021, pages 22-25 
305-2
Indirect (Scope 2)  
GHG emissions
 
ESG Report 2021, pages 22-25 
Operational Footprint 
GRI 103: Management Approach 
103-1
Explanation of the 
material topic and  
its boundary
 
ESG Report 2021, pages 12-13
103-2
The management 
approach and its 
components
 
ESG Report 2021, pages 10, 22-25 
103-3
Evaluation of the 
management approach
 
ESG Report 2021, pages 11-13, 22-25 
GRI 302: Energy
302-1
Energy consumption 
within the organization 
 
ESG Report 2021, pages 22-25
302-3
Energy intensity 
 
ESG Report 2021, pages 12-13, 22-25 
APPENDICES
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APPENDICES
The following provides summary detail on ICP performance, including total lending ($ millions) and total loans by state for the years 2017-2021. 
Inclusive Communities Plan Summary
 
Total 
Massachusetts
Connecticut 
Delaware
New Hampshire
Home Lending
Lending 
(M)
Loans 
(#)
Lending 
(M)
Loans 
(#)
Lending 
(M)
Loans 
(#)
Lending 
(M)
Loans 
(#)
Lending 
(M)
Loans 
(#)
Home Purchase
$2,325
9,419
$806
2,686
$59
374
$23
125
$26
125
Refinance
$1,672
8,123
$720
3,126
$35
262
$10
55
$33
191
Home Equity and Improvement
$1,701
13,487
$614
4,776
$40
417
$2
22
$43
410
Total Lending1
$5,698
31,029
$2,140
10,588
$134
1,053
$35
202
$102
726
Small Business Lending
Lending 
(M)
Loans 
(#)
Lending 
(M)
Loans 
(#)
Lending 
(M)
Loans 
(#)
Lending 
(M)
Loans 
(#)
Lending 
(M)
Loans 
(#)
SBA Lending2
$1,995
21,742
$622
6,804
$80
776
$3
40
$40
432
Small Business Lending3
$1,546
13,579
$351
3,744
$51
506
$5
39
$21
240
Total Lending
$3,541
35,321
$973
10,548
$131
1,282
$8
79
$61
672
Community Development
Lending4
$2,870
$466
$82
$30
$16
Investments5
$1,885
$488
$62
$5
$4
Philanthropy
$57
$18
$2
$1
$1
Volunteer Hours
65,286
20,944
1,388
362
1,546
Continued on following page
1	Includes mortgage lending in LMI tracts or to LMI people.
2	Includes Paycheck Protection Program.
3	Includes small business lending in LMI tracts or to businesses with annual revenues less than $1 million.
4 Includes loans made to and for affordable housing projects, nonprofit organizations that primarily serve LMI communities, CDFIs and to businesses where the loan is more than  
$1 million when made as part of the SBA’s Certified Development Company/504 Loan Program. 
5	Investments made with the purpose of helping meet the credit, housing and economic development needs of LMI communities.
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

APPENDICES
 
New York
New Jersey
Pennsylvania 
Rhode Island 
Home Lending
Lending 
(M)
Loans 
(#)
Lending 
(M)
Loans 
(#)
Lending 
(M)
Loans 
(#)
Lending 
(M)
Loans 
(#)
Home Purchase
$359
827
$584
2,615
$391
2,253
$76
414
Refinance
$250
640
$309
1,631
$224
1,632
$90
586
Home Equity and Improvement
$351
1,399
$365
3,073
$229
2,733
$59
657
Total Lending1
$960
2,866
$1,258
7,319
$844
6,618
$225
1,657
Small Business Lending
Lending 
(M)
Loans 
(#)
Lending 
(M)
Loans 
(#)
Lending 
(M)
Loans 
(#)
Lending 
(M)
Loans 
(#)
SBA Lending2
$348
3,248
$513
5,486
$321
3,553
$68
1,133
Small Business Lending3
$407
2,926
$419
3,419
$208
1,783
$84
922
Total Lending
$755
6,174
$932
8,905
$529
5,336
$152
2,055
Community Development
 
Lending4
$1,458
$418
$309
$91
Investments5
$554
$211
$256
$102
Philanthropy
$13
$2
$9
$2
Volunteer Hours
14,357
8,980
13,939
3,771
1	Includes mortgage lending in LMI tracts or to LMI people.
2	Includes Paycheck Protection Program.
3	Includes small business lending in LMI tracts or to businesses with annual revenues less than $1 million.
4 Includes loans made to and for affordable housing projects, nonprofit organizations that primarily serve LMI communities, CDFIs and to businesses where the loan is more than $1 
million when made as part of the SBA’s Certified Development Company/504 Loan Program. 
5	Investments made with the purpose of helping meet the credit, housing and economic development needs of LMI communities.
Inclusive Communities Plan Summary (continued)
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

APPENDICES
Globally Santander has been recognized as one of the best companies to work for by the Great Place to Work 
Institute, was ranked among the world’s 10 most sustainable banks in the 2021 Dow Jones Sustainability 
Indices, awarded a top 10 ranking in the Bloomberg Gender-Equity Index and recognized as one of the 100 
most valuable brands in Interbrand’s 2020 Best Global Brands ranking.
SANTANDER US AND ITS LEADERS HAVE RECEIVED THE FOLLOWING RECOGNITIONS:
ENVIRONMENTAL 
 
f ESG Deal of the Year, Vineyard Wind, Project Finance International 
 
f Renewables Deal of the Year - North America; Vineyard Wind, IJ Global (Project Finance and Infrastructure Journal) 
SOCIAL
 
f Top 10 Influential Woman in DEI, Rosilyn Houston, Chief Human Resources Officer, Diversity Global Magazine
 
f Top Companies: Boston, Santander Bank, LinkedIn 
 
f Corporate Citizen Awards, Boston Business Journal 
 
f National Volunteer of the Year, Network for Teaching Entrepreneurship (NFTE) 
 
f President’s Service Award, Junior Achievement
 
f Volunteer of the Year, Institute for Entrepreneurial Leadership (IFEL) 
 
f Triumph of the Spirit Human Rights Award for the Santander Consumer Foundation, Southern Methodist University Human Rights Program 
 
f D CEO Nonprofit Corporate Citizenship Collaboration Finalist, Santander Consumer Foundation partnership with the Dallas Innovation 
Alliance (Mobile Learning Lab)
GOVERNANCE
 
f CFO of the Year, Fahmi Karam, Santander Consumer CFO, Dallas Business Journal
Awards & Recognitions
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2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

APPENDICES
ACRONYM	
MEANING 
 
AAPI 
Asian American and Pacific Islander
ARC	
Advise, Relate, Cultivate
BOLD	
Black Organization for Leadership  
	
and Development
BSI	
Banco Santander International- Miami
BSSA	
Banco Santander S.A.
CARE	
Customer, Advocacy, Resource and Education
CDF	
Community Development Finance 
CDFI	
Community Development Financial Institution
CDP 
Carbon Disclosure Project
CEO 
Chief Executive Officer
CER 
Certified Emissions Reduction
CFO 
Chief Financial Officer
CISO 
Chief Information Security Officer
CPO 
Chief Privacy Officer
CRA	
Community Reinvestment Act
CRO 
Chief Risk Officer
CSB	
Cultivate Small Business 
CSR	
Corporate Social Responsibility 
CTO 
Chief Technology Officer
DEI	
Diversity, Equity and Inclusion
ERG	
Employee Resource Group
ERM	
Enterprise Risk Management
ESG	
Environmental, Social and Governance 
GAAP	
Generally Accepted Accounting Principles
GHG	
Greenhouse Gas 
GRI	
Global Reporting Initiative 
ICIC	
Initiative for a Competitive Inner City
ACRONYM	
MEANING 
ICP	
Inclusive Communities Plan
 IEA	
International Energy Agency 
LGBTQ+	
Lesbian, Gay, Bisexual, Transgender,  
	
Queer and other
LMI	
Low- and Moderate-Income
MBE	
Minority Business Enterprise
MDC	
Miami Dade College
NCRC	
National Community Reinvestment Coalition
ODEI 
Office of Diversity, Equity and Inclusion
PAC	
Political Action Committee
PCAF	
Partnership for Carbon Accounting Financials
PPP	
Paycheck Protection Program
RAS	
Risk Appetite Statement
SASB	
Sustainability Accounting Standards Board
SBA	
Small Business Administration
SBNA	
Santander Bank NA
SC	
Santander Consumer USA
SDG	
Sustainable Development Goals
SEC	
Securities and Exchange Commission 
SFCS 
Sustainable Finance Classification System
SHUSA	
Santander Holdings USA
SIS	
Santander Investment Securities
SME	
Small and Medium Enterprises
STEM	
Science, Technology, Engineering and Math
SYEP	
Summer Youth Employment Program
TCFD	
Task Force on Climate-Related  
	
Financial Disclosures 
UN	
United Nations
WEF	
World Economic Forum
Glossary
81
2021 ENVIRONMENTAL SOCIAL AND GOVERNANCE REPORT

Additional resources: 
santanderus.com 
santanderbank.com
 
santanderconsumerusa.com
For more information on Santander US’  
Environmental, Social and Governance  
or this Report, please contact:
Corporate Social Responsibility 
75 State Street 
Mailcode: MA1-SST-03-07 
Boston, MA 02109
ESG@santander.us
FOR MORE INFORMATION
 
Environmental, Social and Governance 
ESG@santander.us
 
General Information on Santander US	
 
santanderus.com
Santander US Investors and Shareholders	
 
santanderus.com/investors-shareholders/
Santander Group	
 
santander.com/en/home
Diversity, Equity and Inclusion	
 
santanderus.com/diversity-equity-inclusion/