November 22, 2017 
SANTANDER HOLDINGS USA, INC. 
Fixed Income Investor Presentation 
Third Quarter 2017
 2 Disclaimer 
This presentation of Santander Holdings USA, Inc. (“SHUSA”) contains “forward-looking statements” within the meaning of the Private Securities 
Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans and future performance of SHUSA. Words such 
as “may,” “could,” “should,” “looking forward,” “will,” “would,” “believe,” “expect,” “hope,” “anticipate,” “estimate,” “intend,” “plan,” “assume” or similar 
expressions are intended to indicate forward-looking statements. 
Although SHUSA believes that the expectations reflected in these forward-looking statements are reasonable as of the date on which the statements 
are made, these statements are not guarantees of future performance and involve risks and uncertainties based on various factors and 
assumptions, many of which are beyond SHUSA’s control. Among the factors that could cause SHUSA’s financial performance to differ materially 
from that suggested by the forward-looking statements are: (1) the effects of regulation and/or policies of the Board of Governors of the Federal 
Reserve System (the “Federal Reserve”), the Federal Deposit Insurance Corporation (the "FDIC"), the Office of the Comptroller of the Currency (the 
“OCC”) and the Consumer Financial Protection Bureau (the “CFPB”), and other changes in monetary and fiscal policies and regulations, including 
interest rate policies of the Federal Reserve, as well as in the impact of changes in and interpretations of generally accepted accounting principles in 
the United States of America ("GAAP"), the failure to adhere to which could subject SHUSA to formal or informal regulatory compliance and 
enforcement actions; (2) the strength of the United States economy in general and regional and local economies in which SHUSA conducts 
operations in particular, which may affect, among other things, the level of non-performing assets, charge-offs, and provisions for credit losses; (3) 
the ability of certain European member countries to continue to service their debt and the risk that a weakened European economy could negatively 
affect U.S.-based financial institutions, counterparties with which SHUSA does business, as well as the stability of global financial markets; (4) 
inflation, interest rate, market and monetary fluctuations, which may, among other things, reduce net interest margins, and impact funding sources 
and the ability to originate and distribute financial products in the primary and secondary markets; (5) regulatory uncertainties and changes faced by 
financial institutions in the U.S. and globally arising from the U.S. presidential administration and Congress and the potential impact those 
uncertainties and changes could have on SHUSA's business, results of operations, financial condition or strategy; (6) adverse movements and 
volatility in debt and equity capital markets and adverse changes in the securities markets, including those related to the financial condition of 
significant issuers in SHUSA’s investment portfolio; (7) SHUSA's ability to grow revenue, manage expenses, attract and retain highly-skilled people 
and raise capital necessary to achieve its business goals and comply with regulatory requirements; (8) SHUSA’s ability to effectively manage its 
capital and liquidity, including approval of its capital plans by its regulators; (9) changes in credit ratings assigned to SHUSA or its subsidiaries; (10) 
SHUSA’s ability to timely develop competitive new products and services in a changing environment that are responsive to the needs of SHUSA's 
customers and are profitable to SHUSA, the acceptance of such products and services by customers, and the potential for new products and 
services to impose additional costs on SHUSA and expose SHUSA to increased operational risk; (11) competitors of SHUSA that may have greater 
financial resources or lower costs, may innovate more effectively, or may develop products and technology that enable those competitors to 
compete more successfully than SHUSA; (12) changes in customer spending or savings behavior; (13) the ability of SHUSA and its third-party 
vendors to convert and maintain SHUSA’s data processing and related systems on a timely and acceptable basis and within projected cost 
estimates; (14) SHUSA's ability to control operational risks, data security breach risks, outsourcing risks, and the possibility of errors in quantitative 
models SHUSA uses to manage its business, including as a result of cyber attacks, technological failure, human error, fraud or malice, and the 
possibility that SHUSA's controls will prove insufficient, fail or be circumvented; (15) the outcome of ongoing tax audits by federal, state and local 
income tax authorities that may require SHUSA to pay additional taxes or recover fewer overpayments compared to what has been accrued or paid 
as of period-end; (16) acts of terrorism or domestic or foreign military conflicts; and acts of God, including natural disasters; (17) the costs and 
effects of regulatory or judicial proceedings; and (18) adverse publicity, whether specific to SHUSA or regarding other industry participants or 
industry-wide factors, or other reputational harm.
 3 Disclaimer (cont.) 
Because this information is intended only to assist investors, it does not constitute investment advice or an offer to invest, and in making this 
presentation available, SHUSA gives no advice and makes no recommendation to buy, sell, or otherwise deal in shares or other securities of Banco 
Santander, S.A. (“Santander”), SHUSA, Santander Bank, N.A. (“Santander Bank” or “SBNA”), Santander Consumer Holdings USA, Inc. (“SC”)  or 
any other securities or investments. It is not our intention to state, indicate, or imply in any manner that current or past results are indicative of future 
results or expectations.  As with all investments, there are associated risks, and you could lose money investing.  Prior to making any investment, a 
prospective investor should consult with its own investment, accounting, legal, and tax advisers to evaluate independently the risks, consequences, 
and suitability of that investment. No offering of securities shall be made in the United States except pursuant to registration under the U.S. 
Securities Act of 1933, as amended, or an exemption therefrom.   
In this presentation, we may sometimes refer to certain non-GAAP figures or financial ratios to help illustrate certain concepts.  These ratios, each of 
which is defined in this document, if utilized, may include Pre-Tax Pre-Provision Income, the Tangible Common Equity to Tangible Assets Ratio, and 
the Texas Ratio. This information supplements our results as reported in accordance with GAAP and should not be viewed in isolation from, or as a 
substitute for, our GAAP results. We believe that this additional information and the reconciliations we provide may be useful to investors, analysts, 
regulators and others as they evaluate the impact of these items on our results for the periods presented due to the extent to which the items are 
indicative of our ongoing operations.  Where applicable, we provide GAAP reconciliations for such additional information.  
The enhanced prudential standards mandated by Section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "DFA")(the 
“Final Rule") were enacted by the Federal Reserve System (the "Federal Reserve") to strengthen regulatory oversight of foreign banking 
organizations ("FBOs"). Under the Final Rule, FBOs with over $50 billion of U.S. non-branch assets, including Santander, were required to 
consolidate U.S. subsidiary activities under an IHC. Due to its U.S. non-branch total consolidated asset size, Santander is subject to the Final Rule. 
As a result of this rule, Santander transferred substantially all of its equity interests in U.S. bank and non-bank subsidiaries previously outside the 
Company to the Company, which became an IHC effective July 1, 2016. These subsidiaries included Santander BanCorp (“SBC”), Banco Santander 
International (“BSI”), Santander Investment Securities, Inc. (“SIS”), Santander Securities LLC (“SSLLC”), as well as several other subsidiaries.   
On July 1, 2017, an additional Santander subsidiary, Santander Financial Services, Inc. ("SFS"), a finance company located in Puerto Rico, was 
transferred to the Company. The contribution of SFS to the Company transferred approximately $679 million of assets, which were primarily 
comprised of cash and cash equivalents and loans held for sale, approximately $357 million of liabilities and approximately $322 million of equity to 
the Company. Moreover, the Company is in the process of dissolving the business assets. SFS is an entity under common control of Santander; 
however its results of operations, financial condition, and cash flows are immaterial to the historical financial results of the Company. As a result, the 
Company has determined that it will report the results of SFS on a prospective basis beginning July 1, 2017 rather than, as required by GAAP, 
retrospectively restate its financial statements for the contribution of SFS. As a result, SHUSA's net income is understated for the nine-month period 
ended September 30, 2017 and September 30, 2016 by $3.3 million and $14.7 million, respectively, and a contribution to stockholder's equity of 
$322.1 million was recorded on July 1, 2017, which are immaterial to the overall presentation of the Company's financial statements for each of the 
periods presented.
 4 
SHUSA is a bank holding company (“BHC”) wholly owned by Santander (NYSE: SAN) 
Introduction 
1SHUSA’s SEC filings are accessible on the SEC website at  www.sec.gov and are also accessible through SHUSA’s website 
at www.santanderus.com. 
• SHUSA consists of: 
• Well-established banking franchises in    
the Northeast U.S. and Puerto Rico 
• A nationwide auto finance business 
• A wholesale broker-dealer in New York 
• International private banking business 
• Headquartered in Boston 
• Regulated by the Federal Reserve  
• SEC registered1 
• Bloomberg ticker: SOV 
• Website www.santanderus.com 
Santander  
Bank 
Santander  
Consumer  
USA 
NYSE:  SC 
Santander  
Puerto Rico 
Banco  
Santander   
International 
Santander   
Investment 
Securities
 5 Corporate Structure1 
SHUSA is the intermediate holding company (“IHC”) for Santander’s U.S. operations 
1Balances as of September 30, 2017  4Banco Santander International  7Increased from ~58.7% on 11/15/17 
2Santander Bank, N.A.   5Banco Santander Puerto Rico  
3Santander Consumer USA Holdings Inc.  6Santander Investment Securities 
Approximately 
68.3% ownership7 
100% ownership 
  
SBNA2 
$78.1BN Assets 
Retail Bank 
 
  
SC3 
$38.7BN Assets 
Auto Finance 
BSI4 
$6.7BN Assets 
Wealth Management 
BSPR5 
$5.2BN Assets 
Retail Bank 
SIS6 
$1.3BN Assets 
Broker Dealer 
 
SHUSA 
$132.0BN Assets 
 
                               
Santander
 6 
• Termination of 2014 Written Agreement by Federal Reserve 
• On August 17, 2017, the Federal Reserve terminated the 2014 Written Agreement with SHUSA which 
governed SHUSA capital distributions      
    
• SHUSA management changes1 
• On August 28, 2017, Scott Powell, SHUSA CEO, was also named CEO of SC 
• On August 28, 2017, Duke Dayal, SHUSA and SBNA CFO, was also named SBNA CEO 
• On October 2, 2017, SC named Juan Carlos Alvarez de Soto, SHUSA Treasurer, as CFO 
• On October 2, 2017, SC also named Richard Morrin as President of Chrysler Capital and Auto Relationships 
and Sandra Broderick as EVP, Head of Operations     
      
• Impact of Hurricanes Harvey, Irma, and Maria 
• 3Q17 results include ~$95MM (pre-tax) in provisions relating to Hurricanes  Harvey, Irma, and Maria which 
impacted SHUSA’s operations in Texas, Florida, and Puerto Rico    
  
• Rating Agency actions by Moody’s and Fitch 
• On September 27, 2017, Moody’s placed SBNA on review for possible upgrade 
• On November 17, 2017, Fitch assigned ratings of BBB+/F-2 to SHUSA and SBNA 
 
• SHUSA received 9.6% of SC from former SC CEO 
• On November 15, 2017, Santander contributed 9.6% of SC to SHUSA held by the former SC CEO as per 
prior agreement (see slide 17) 
 
Significant Events 
1See Appendix for detail on management changes and biographies
 7 3Q 2017 Executive Summary1 
Liquidity and 
Funding 
Capital 
Balance Sheet 
1Data as of  September 30, 2017 unless otherwise noted.   
2Includes noncontrolling interest. 
3Liquidity coverage ratio. 
4Common equity tier 1. 
Earnings 
Credit Quality 
• 3Q17 net income of $237MM2; YTD net income of $688MM2 
• 3Q17 results reflect ~$95MM (pre-tax) in provisions related to 3Q17 hurricanes   
• SBNA NIM YoY has improved from 2.33% to 2.88%     
 
• SHUSA’s balance sheet QoQ declined modestly from $134.8BN to $132.0BN  due to 
continued balance sheet optimization 
• In 3Q17, SC completed sales of $1.3BN prime auto loans to Santander and $0.13BN 
RV/marine portfolio to SBNA 
        
• Holding company held $4.5BN in high quality liquid assets (“HQLA”).  
• SHUSA maintains an LCR3 in excess of regulatory requirements 
• During 3Q17, SHUSA issued $1.24BN in 5 and 10-year TLAC eligible debt and conducted 
liability management on 3.45% debt and 7.908% Trust preferred 
• In October 2017, SHUSA issued $0.3BN in a 2-year private placement 
    
• CET14 ratio of 15.7% as of 3Q17; 15.2% for Basel III fully phased-in 
• In 3Q17, SHUSA initiated dividends to Santander with a $5MM dividend 
• In 4Q17, SC initiated dividends with a dividend of $0.03 per share 
• SBNA’s credit metrics are in line with large bank peers 
• SC YoY gross charge-offs decreased 40 basis points and YoY net charge-offs decreased 20 
basis points
 8 Quarterly Profitability1,2  
1Net income includes noncontrolling interest. 
2See Page 24 for the consolidating income statement. 
SHUSA net income improved on YoY basis; 3Q17 results impacted by $95MM (pre-tax) in 
provisions for hurricanes 
Net Interest Income ($MM) Pre-Tax Pre-Provision Income ($MM)
 Pre-Tax Income ($MM) Net Income ($MM)1
 1,022
 783
 978 985 982
 0
 250
 500
 750
 1,000
 1,250
 3Q16 4Q16 1Q17 2Q17 3Q17
 1,621 1,583 1,603 1,642 1,574
 0
 500
 1,000
 1,500
 2,000
 3Q16 4Q16 1Q17 2Q17 3Q17
 334 
3 
243 
380 
330 
0
 150
 300
 450
 3Q16 4Q16 1Q17 2Q17 3Q17
 226 
164
 30
 288 
237 
0
 100
 200
 300
 3Q16 4Q16 1Q17 2Q17 3Q17
 9 
2 
2 
NIM and Interest Rate Risk (IRR) Sensitivity 
• SHUSA remains modestly asset sensitive and positioned to benefit from higher interest 
rates 
• Continued improvement in SBNA’s NIM due to balance sheet optimization actions and 
deposit pricing 
5.87% 5.50% 5.76% 
6.06% 5.83% 
11.8% 
11.3% 11.2% 11.3% 
10.5% 
2.33% 2.30% 2.62% 
2.87% 2.88% 
0.0%
 2.0%
 4.0%
 6.0%
 8.0%
 10.0%
 12.0%
 14.0%
 3Q16 4Q16 1Q17 2Q17 3Q17
 Net Interest Margin 
SHUSA SC SBNA
 -1.90% 
-2.14% -2.14% 
-1.78% 
-2.70% 
2.93% 
2.36% 2.37% 
2.03% 
2.38% 
-3.0%
 -2.0%
 -1.0%
 0.0%
 1.0%
 2.0%
 3.0%
 4.0%
 3Q16 4Q16 1Q17 2Q17 3Q17
 SHUSA IRR 
(Change in annual NII for parallel rate movement) 
Down 100bps Up 100bps
 10 
15% 
6% 
6% 
4% 
6% 
4% 7% 
6% 
17% 
2% 
8% 
19% 
Investments 
Cash 
Auto Loans 
19% 
12% 
5% 
6% 
5% 
4% 
18% 
6% 
3% 
4% 
18% 
Non Interest-
 Bearing 
Demand 
Deposits 
Other Assets 
C&I  
CRE 
Residential 
Mortgage 
Other  
Loans 
Auto Leases 
Goodwill 
Home 
Equity 
Multi-Family 
$132.0BN Assets 
$108.5BN Liabilities 
$23.5BN Equity 
Interest-
 Bearing 
Demand 
Deposits 
Secured 
Structured 
Financings 
Equity 
Other 
Liabilities 
FHLB 
Money 
Market 
Certificates 
of Deposit 
Savings 
Revolving 
Credit 
Facilities 
Other  
Borrowings 
Balance Sheet Overview1,2 
SHUSA’s balance sheet represents the combination of banks funded by core deposits and 
an auto finance company financed with diversified funding sources 
1Balances as of September 30, 2017. 
2See page 23 for the consolidating balance sheet.
 11 Balance Sheet Trend1 
Balance sheet trend reflects reduction in cash and loans offset by lower wholesale 
deposits and borrowed funds 
1Other Assets and Other Liabilities for 3Q16 and 1Q17 have been adjusted by $791MM and $981MM, respectively, for correction 
of deferred tax classification. See SHUSA 3Q17 10-Q for detail. 
$10 $10 $10 $10 $10
 $90 $88 $86 $85 $83
 $17 $19 $21 $21 $20
 $11 $10 $9 $8 $8
 $11$11$11$11$11
 $135 $140 
1Q17 
$136 
3Q17 
$132 
3Q16 2Q17 4Q16 
$138 
Investments 
ST Funds Other Assets 
Leases 
Gross Loans 
Liabilities & Equity Assets 
Assets ($BN) Liabilities and Equity ($BN) $44 $41 $43 $41
 $16 $15 $16 $16 $16
 $52
 $23$23$23$22$23
 $45
 $47$51 $46
 $52
 1Q17 
$136 
2Q17 
$135 
$5 
3Q16 
$140 
$5 
$138 
$5 $5 
4Q16 
$5 
3Q17 
$132 
IB Deposits 
NIB Deposits 
Borrowed Funds Equity 
Other Liabilities
 12 Balance Sheet Trend (cont.) 
• Loan decline primarily due to reduction in C&I loans1 
• Deposit decline reflects ~$4BN reduction in brokered time deposits 
Liabilities & Equity Assets 
$29 $28 $28 $29 $27
 $27 $26 $24 $23 $22
 $19 $19 $18 $18 $18
 $14 $14 $14 $14 $14
 $10$10$10$10$10
 $95 
$100 
1Q17 
$96 
3Q17 
$93 
3Q16 2Q17 4Q16 
$98 
CRE 
Res. Mtg Leases 
Auto 
C&I 
Loans and Leases ($BN) Deposits ($BN) 
$25 $24 $25 $25 $25
 $6 $6 $6 $6
 $10 $11 $12
 $9 $9
 $15
 $6$7$8$9$10
 $6
 $16
 $16
 $16
 $16
 1Q17 
$67 
2Q17 
$63 
3Q16 
$68 67 
4Q16 3Q17 
$62 
DDA NIB 
DDA IB 
Savings Time  
MMDA Other Other 
1See slide 39 for trend detail on SBNA C&I portfolio
 13 
$6.2 
$7.1 
2Q17 3Q17
 $6.2 $7.1
 $5.4 $4.6
 $4.9 $4.3
 $8.5
 $8.3
 $15.3
 $15.0
 2Q17 3Q1
 $2.3 $2.3
 $0.7 $0.7
 $4.9 $4.3
 $8.5 $8.3
 $15.3 $15.0 
2Q17 3Q17
  
 
Borrowed Funds Profile1 
1As of  September 30, 2017 
2Intragroup  balance includes lending from SHUSA to SC which is eliminated at the consolidated level. 
Holding company issuances to meet TLAC and liquidity management requirements 
2 
 
 
FHLB 
Bank Debt 
HoldCo Debt 
SC 3rd Party 
SC ABS 
$43.4 
$41.4 
SC Private Amortizing 
SHUSA HOLDCO ($BN) SHUSA Consolidated  ($BN)  
Private Amortizing 
3rd Party Revolving 
Intragroup2 
HoldCo Debt 
$6.2 
$7.1 
$0.9 $0.9
 $5.4
 $4.6
 2Q17 3Q17
 FHLB 
0.8% 
SBNA ($BN) 
Bank Debt 
FHLB 
$6.3 
$5.5 
ABS 
SC ($BN) 
$31.7 $30.6 
Repurchase Agreement 
SC Repo. Agreement
 14 
2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 ... 2036 Perp
 2 
2 
HoldCo Debt Profile 
• As of 3Q17 HoldCo held $4.5BN in HQLA 
• During 3Q17 HoldCo issued $1.24BN in 5 and 10-year debt and conducted liability 
management on the 3.45% due 2018 debt and the 7.908% trust preferred 
• Subsequently in 4Q17 HoldCo issued $302MM private placement due 2020 
Pref 
Stock 
Sr.  
Debt 
3.45% 
Sr 
Debt 
 
  L+145 
$0.6 
$0.3 
$0.2 $0.2 
$1.0 
Sr 
Debt 
 
2.65% 
$1.1 
Sr 
Debt 
 
4.50% 
$1.0 
Sr 
Debt 
 
  2.70% 
$1.4 
Sr 
Debt 
 
3.70% 
Sr 
Debt 
 
4.40% 
$0.8 
$1.8 
Sr 
Debt 
 
L+100 
$0.76 
Trust 
 Pfd 
Debt issued post 3Q17 
$1.3 
$0.3 
L+100
 15 
2 
2 
HoldCo Issuance and TLAC Rule 
1Chart does not include SHUSA private placements ($0.7BN) and SBNA internal debt ($0.2BN) 
• By January 2019, HoldCo expects to issue approximately $3.3BN in HoldCo debt to meet 
TLAC LTD requirement 
• Net increase of $1.8BN as issuances replace maturities at HoldCo and SBNA 
$1.8BN 
SHUSA and SBNA Public Debt Outstanding1
 16 
2 
SHUSA capital ratios remain at the top of peers3 
Capital Ratios1,2 
1Capital ratios calculated under the U.S. Basel III framework on a transitional basis.  On a fully phased-in basis CET1 was 15.2% as of 3Q17 
2Ratios for 3Q16 through 1Q17 have not been adjusted for the correction of deferred tax calculation.  Impact of the correction is projected to be immaterial 
(reduction of 8-17bps).  See SHUSA 3Q17 Form10-Q for detail. 
3See page 30 for comparison of SHUSA capital ratios to peers. 
14.1% 14.5% 14.6% 14.6% 
15.7% 
3Q16 4Q16 1Q17 2Q17 3Q17
 12.5% 12.5% 12.6% 
13.0% 13.4% 
3Q16 4Q16 1Q17 2Q17 3Q17
 15.7% 16.1% 16.2% 
16.3% 
17.4% 
3Q16 4Q16 1Q17 2Q17 3Q17
 17.6% 18.0% 18.1% 18.1% 
19.1% 
3Q16 4Q16 1Q17 2Q17 3Q17
 Tier 1 Risk-Based Capital Ratio Total Risk-Based Capital Ratio 
Tier 1 Leverage Ratio Common Equity Tier 1
 17 SHUSA receipt of SC shares1 
• On July 2, 2015, Tom Dundon stepped down as SC CEO  
 
• In connection with Mr. Dundon’s departure, SHUSA had a call option, pending regulatory approval 
and applicable law, to acquire all of the SC common stock owned by DDFS LLC, an entity solely 
owned by Mr. Dundon2.  
    
• On November 15, 2017, SHUSA received the 9.6% of SC previously owned by DDFS LLC  
• SHUSA assigned the call option to Santander 
• Santander exercised the call option to acquire the SC shares from DDFS LLC 
• Santander then contributed the shares to SHUSA 
 
• SHUSA’s ownership of SC increased from approximately 58.7% to 68.3% 
 
• SHUSA’s CET1 capital ratio is projected to improve by ~50bps from the transaction 
• SHUSA’s other capital ratios will improve by ~8-13bps 
1SHUSA form  8-K filed November 17, 2017 
2See SHUSA 3Q17 Form 10-Q Note 15
 18 
**Source: SNL Bank level data; Large Bank = BAC, COF, C, KEY, BMO, HSBA, PNC, RBS, JPM, UNB, TD, USB, and WFC 
 
Asset Quality:  SBNA 
14Q16 impacted by two commercial clients. Excluding these clients, the charge-off ratio would have been  0.31%. 
2NPLs = Non accruing loans plus accruing loans 90+ days past due  (“DPD”). 
3ALLL = Allowance for loan and lease losses. 
0.36% 
0.38% 
0.39% 0.41% 0.43% 
0.45% 0.41% 
0.41% 
0.40% 
0.20% 
0.43% 
0.12% 0.15% 
0.25% 
0.91% 
0.21% 
0.44% 
0.27% 
0.00%
 0.20%
 0.40%
 0.60%
 0.80%
 1.00%
 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17
 Annualized Net Charge off Ratio1 
Large Banks SBNA
 1.17% 1.14% 
1.28% 1.26% 1.22% 1.20% 
1.12% 
1.06% 1.02% 
0.94% 0.96% 
1.30% 1.26% 
1.16% 1.12% 1.13% 
1.25% 
1.06% 
0.00%
 0.30%
 0.60%
 0.90%
 1.20%
 1.50%
 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17
 NPL Ratio2 
Large Banks SBNA
 1.28% 1.26% 1.29% 1.27% 1.26% 1.22% 1.20% 1.17% 1.16% 
1.07% 1.07% 
1.18% 1.17% 1.16% 
1.02% 1.07% 1.06% 1.06% 
0.00%
 0.30%
 0.60%
 0.90%
 1.20%
 1.50%
 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17
 ALLL3 to Total Loans 
Large Banks SBNA
 118.6% 120.0% 
106.0% 109.0% 110.4% 109.0% 
114.1% 120.1% 
124.0% 
114.6% 111.3% 
90.6% 93.2% 
100.2% 
91.4% 94.7% 85.1% 
100.3% 
0.0%
 50.0%
 100.0%
 150.0%
 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17
 Reserve Coverage (ALLL/NPL) 
Large Banks SBNA
 SBNA Asset quality metrics remain in line with large bank peers
 19 Asset Quality:  SC – Loss and Delinquency 
• YoY gross charge-offs decreased 40 basis points and YoY net charge-offs decreased 
20 basis points  
• YoY delinquency increased for each delinquency bucket primarily driven by slower 
portfolio growth 
SOURCE:  SC Third Quarter 2017 Presentation in Form 8-K filed on October 27, 2017.  
See http://investors.santanderconsumerusa.com/financial-info/quarterly-results.
 20 Asset Quality:  SC – Vintage Loss Performance 
2016 vintage continues to outperform the 2015 vintage on a gross and net loss basis 
SOURCE:  SC Third Quarter 2017 Presentation in Form 8-K filed on October 27, 2017.  
See http://investors.santanderconsumerusa.com/financial-info/quarterly-results. 
*Retained originations only 
1 Vintage performance describes January through December originations performance through the end of the following September (for 
each respective year), up to 21 months of performance to illustrate similar aging points for each vintage 
2 SC’s financial statements reflect auction fees in repossession expense, whereas these fees are included in the net loss figures as shown 
above; Non-GAAP measure
 21 
2 
2 
Rating Agencies 
  SBNA 
Te S&P Moody’s Fitch 
Short Term 
Deposits 
A-2 P-1 F-2 
Senior Debt BBB+ Baa2 BBB+ 
Outlook Stable Stable Stable 
SHUSA 
S&P Moody’s Fitch 
N/A N/A F-2 
BBB+ Baa3 BBB+ 
Stable Stable Stable 
On August 1, 2017, S&P affirmed SHUSA’s and SBNA’s ratings of                   
A-2/BBB+/stable 
 
    
On September 27, 2017, Moody’s placed SBNA’s long-term rating on review 
for possible upgrade. Moody’s affirmed SBNA’s short-term rating of P-1 and 
affirmed SHUSA’s long-term rating of Baa3 
 
On November 17, 2017, Fitch initiated coverage of SHUSA and assigned 
ratings of F-2/BBB+/stable to SHUSA and SBNA 
November 
2017 
Santander 
S&P Moody’s Fitch 
A-2 P-2 F-2 
A- A3 A- 
Stable Stable Stable
 Appendix
 23 
2 
2 
Consolidating Balance Sheet 
1Includes holding company eliminations, IHC eliminations and purchase accounting marks related to SC consolidation. 
2The IHC entities are presented within "other" in SHUSA’s financial statement segment presentation due to immateriality. 
3Other investment securities include trading securities. 
(US $ mi l l ions)  Bank SC Other1 IHC Entities2 SHUSA
 Assets
 Cash and cash equivalents 3,274$            397$                (363)$               4,602$            7,910$            
Investments available-for-sale at fair value 16,041            -                         251                   941                   17,233            
Investments held-to-maturity 1,561               -                         -                         -                         1,561               
Other investment securities3 705                   -                         -                         12                     717                   
Loans 48,457            26,217            (400)                 7,275               81,549            
Less allowance for loan and leases losses (518)                 (3,550)             249                   (137)                 (3,956)             
        Total loans, net 47,939            22,667            (151)                 7,138               77,593            
Goodwill 3,403               74                     967                   11                     4,455               
Other assets 5,135               15,627            728                   1,027               22,517            
Total assets 78,058$          38,765$          1,432$            13,731$          131,986$       
Liabilities and Stockholder's Equity
 Deposits 57,380$          -$                 (4,705)$           9,203$            61,878$          
Borrowings and other debt obligations 5,472               30,594            4,890               395                   41,351            
Other liabilities 1,511               2,286               96                     1,394               5,287               
       Total liabilities 64,363            32,880            281                   10,992            108,516          
Stockholder's equity including  
   noncontrolling interest 13,695            5,885               1,151               2,739               23,470            
Total liabilities and stockholder's equity 78,058$          38,765$          1,432$            13,731$          131,986$       
September 30, 2017
 24 Consolidating Income Statement 
(US $ Mi l l ions)  Bank SC Other1 IHC Entities2
 Interest income 590$            1,240$        26$               98$                 1,954$        
Interest expense (91)                (251)             (29)                (9)                    (380)             
Net interest income 499               989              (3)                  89                   1,574           
Fees & other income/(expense) 210               497              (22)                103                 788              
Equity investment income -                -               1                    -                  1                   
Other non interest income 7                    -               -                -                  7                   
Net revenue/(loss) 716               1,486          (24)                192                 2,370           
G & A expense (495)             (667)             (66)                (116)               (1,344)         
Other expenses (21)                (6)                  (15)                (2)                    (44)               
Provision for credit losses (34)                (536)             (32)                (50)                  (652)             
Income/(loss) before taxes 166               277              (137)             24                   330              
Income tax (expense)/benefit (49)                (78)               46                 (12)                  (93)               
Net income/(loss)3 117$            199$            (91)$             12$                 237$            
For the three-month period ended September 30, 2017
 SHUSA
 1Includes holding company activities, IHC eliminations, eliminations and purchase accounting marks related to SC consolidation. 
2The IHC entities are presented within "other" in  SHUSA’s financial statement segment presentation due to immateriality. 
3SHUSA net income includes non-controlling interest.
 25 
2 
2 
Quarterly Trended Statement of Operations 
1Represents net income including noncontrolling interest. 
(US $ Mi l l ions) 3Q16 4Q16 1Q17 2Q17 3Q17
 Interest income 1,971$      1,932$     1,956$    1,999$    1,954$     
Interest expense (350)           (349)          (353)         (357)         (380)         
Net interest income 1,621         1,583        1,603       1,642      1,574       
Fees & other income 728            623           728          720          788           
Equity investment (expense)/income -             (6)               (2)              1               1                
Other non interest income -             -            1               9               7                
Net revenue 2,349         2,200        2,330       2,372      2,370       
G&A expense (1,281)       (1,353)      (1,311)     (1,342)     (1,344)      
Other expenses (46)             (64)            (41)           (45)           (44)            
Provision for credit losses (688)           (780)          (735)         (605)         (652)         
Income before taxes 334            3                243          380          330           
Income tax (expense)/benefit (108)           27              (79)           (92)           (93)            
Net income1 226$          30$           164$        288$        237$
 26 
• On August 28, 2017, Santander announced Scott Powell was named CEO of SC 
• Mr. Powell remains the CEO of SHUSA and Country head for Santander in the U.S. 
• Jason Kulas, prior SC CEO, left SC to pursue other opportunities.  He also left the SC Board  
         
• On August 28, 2017, SHUSA also announced the following changes: 
• Duke Dayal, SHUSA and SBNA CFO, also became SBNA CEO 
• Mahesh Aditya, SHUSA COO, joined the SC Board replacing Mr. Kulas 
 
• On October 2, 2017, SC announced the following appointments: 
• Juan Carlos Alvarez de Soto, previously SHUSA Treasurer, was named SC CFO 
• Izzy Dawood, SC CFO, left SC to pursue other opportunities 
• Richard Morrin, previously SC COO, was named President of Chrysler Capital and Auto 
Relationships 
• Sandra Broderick joined SC as EVP, Head of Operations 
 
 
 
Management Changes
 27 
• 2 
• 2 
 
Management Detail 
Scott Powell 
SHUSA/SC CEO 
• Mr. Powell was appointed Director, President and Chief Executive Officer of SHUSA in March 
2015.  He was named Chief Executive Officer of SC in August 2017.  Previously he was Chief 
Executive Officer of SBNA from July 2015 to August 2017. 
• Previously, Mr. Powell was Executive Chairman of National Flood Services Inc. from 2013-
 2014. 
• Mr. Powell was with JP Morgan Chase & Company and its predecessor BankOne from 2002 
until his retirement in February 2012.  Most recently at JPMorgan he served as the Head of 
Home Lending Default from July 2011 to February 2012. He previously served as Head of 
JPMorgan’s Banking and Consumer Lending Operations from June 2010 to June 2011 and 
Chief Executive Officer of Consumer Banking from January 2007 to May 2010.  He also served 
as Head of Chase Auto Finance. 
Duke Dayal 
SBNA CEO 
SHUSA/SBNA CFO 
• Mr. Dayal was named Chief Executive Officer of SBNA in August 2017.  Duke  continues to 
serve as Chief Financial Officer for SHUSA and SBNA since his joining in March 2016. 
• Previously he was CFO of BancWest, Bank of the West, and BNP Paribas USA, the company’s 
holding company in the U.S. 
• Prior to BNP Paribas and Bank of the West, Duke helped lead a private equity start-up for JP 
Morgan Chase, Brysam Global Partners.  Prior to that, Duke spent eight years with Citi in a 
variety of operations and finance roles in New York, California, South Korea and Brussels. 
• Duke has a Bachelor’s Degree in Accounting and Finance from Trent University in 
Nottingham, England. He is a member of the Chartered Institute of Management 
Accountants in England and is a Board member of the Federal Home Loan Bank of 
Pittsburgh.
 28 
2 
2 
Management Detail (cont.) 
• Juan Carlos Alvarez de Soto, CFA, began serving as SC Chief Financial Officer in October 
2017. Prior to this appointment, he served as Corporate Treasurer for Santander Holdings 
USA, Inc. (SHUSA), overseeing SHUSA’s liquidity risk management, asset liability 
management and treasury functions. 
• He joined Santander in 1996 and has more than 20 years of investment and trading 
expertise. Before joining SHUSA, he was Senior Vice President and Head of Treasury and 
Investments for Santander’s International Private Banking at Banco Santander 
International and Banco Santander Suisse.  Prior to that, he held the position of Directeur 
Adjoint for Santander Central Hispano Suisse, Geneva and was Head of Treasury, Trading 
and Asset-Allocation. 
• Prior to joining Santander, Mr. Alvarez de Soto worked as part of the Treasury team for 
Inter-American Development Bank in Washington, D.C. and for FIMAT (Société Generale’s 
futures broker) in Spain. 
• Mr. Alvarez holds a Master of Science Degree in Finance from George Washington 
University and Bachelor of Science in Management from Tulane University.  
Juan Carlos Alvarez 
SC CFO 
Mahesh Aditya 
SHUSA COO 
• Mr. Aditya was named Chief Operating Officer for SHUSA in March 2017. 
• Previously he was the Chief Risk Officer for Visa Inc. and a Member of the Operating 
Committee of Visa. 
• Prior to Visa, between 2009 and 2011, Mahesh worked at Capital One Bank as Head of 
Risk for Mortgage and Business Banking.  From 2007 to 2009, he served as Chief Risk 
Officer of Retail Banking and later the Chief Risk Officer for Mortgage banking at 
JPMorgan.  From 2004 to 2007 Mahesh was Head of Risk at Citibank North America.  
• Mahesh has a degree in Electrical Engineering from Bangalore University and an MBA 
from the Faculty of Management Studies, Delhi University.
 29 
2 
2 
Management Detail (cont.) 
• Mr. Morrin was named President of Chrysler Capital in October 2017 after serving as SC’s 
Chief Operating Officer since February 2016. He previously held the role of Executive Vice 
President of New Business at the Company, a position he held since 2011.  
• Prior to joining SC, Mr. Morrin held a variety of management positions in 21 years of 
combined service at Ally Financial and General Motors Acceptance Corp. During his tenure 
at Ally, he managed the commercial lending operations for Ally automotive dealers in the 
United States and Canada.  
• Mr. Morrin holds a Bachelor’s Degree in Economics from the University of Pennsylvania 
and an MBA from the University of Virginia. Richard Morrin 
President 
Chrysler Capital 
• Ms. Broderick began serving as SC’s EVP, Head of Operations, in October 2017. 
• Prior to joining SC, Ms. Broderick served as Executive Vice President, Operations 
Executive at U.S. Bank, where she oversaw consumer originations and servicing. Ms. 
Broderick has also served as Managing Director, Operations Executive at JPMorgan 
Chase; SVP, Operations Executive at Bank One; and Senior Operations Director at G.E. 
Capital.  
• Ms. Broderick holds a Bachelor’s in Business Administration from the State University of 
New York at Buffalo.  
Sandra Broderick 
SC Head of Operations
 30 
2 
Capital Ratios Peer Comparison (as of 9/30/17) 
CET1 Tier 1 Risk-Based Capital 
Total Risk-Based Capital Tier 1 Leverage 
- - - - Peer Median Peer data from SNL
 31 
2 
2 
Non-GAAP to GAAP Reconciliations 
$ Millions 3Q16 4Q16 1Q17 2Q17 3Q17
 SHUSA Pre-Tax Pre-Provision Income
 Pre-tax income, as reported 334$                   3$                       243$                   380$                   330$                   
Add back:
 Provision for credit losses 688                     780                     735                     605                     652                     
Pre-tax pre-provision income 1,022$                783$                   978$                   985$                   982$
 32 
2 
2 
Non-GAAP to GAAP Reconciliations1 
 
 
1Basel III ratios on a transition basis under the standardized approach starting in 2Q15. 
$ Millions 3Q16 4Q16 1Q17 2Q17 3Q17
 CET 1 to Risk-Weighted Assets
 Tier 1 Common 15,153$              15,136$              14,912$              15,116$              15,646$              
Risk-Weighted Assets 107,310              104,334              102,353              103,241              99,938                
Ratio 14.1% 14.5% 14.6% 14.6% 15.7%
 Tier 1 Leverage
 Tier 1 Capital 16,866$              16,844$              16,603$              16,838$              17,378$              
135,155              134,534              131,648              129,913              129,728$            
Ratio 12.5% 12.5% 12.6% 13.0% 13.4%
 Tier 1 Risk-Based
 Tier 1 Capital 16,866$              16,844$              16,603$              16,838$              17,378$              
Risk-Weighted Assets 107,310              104,334              102,353              103,241              99,938$              
Ratio 15.7% 16.1% 16.2% 16.3% 17.4%
 Total Risk-Based
 Risk-Based Capital 18,834$              18,775$              18,508$              18,657$              19,083$              
Risk-Weighted Assets 107,310              104,334              102,353              103,241              99,938$              
Ratio 17.6% 18.0% 18.1% 18.1% 19.1%
 Average total assets for leverage capital purposes
 33 
2 
2 
SBNA: Quarterly Profitability 
US $ millions 
1See non-GAAP to GAAP reconciliation of Pre-Tax Pre-Provision Income. 
Net Interest Income ($MM) Pre-Tax Pre-Provision Income ($MM)1
 Pre-Tax Income/(Loss) ($MM) Net Income/(Loss) ($MM)
 114 
47 
114
 155 
200 
0
 50
 100
 150
 200
 3Q16 4Q16 1Q17 2Q17 3Q17
 433 426 
460 
495 499 
2.33% 2.30%
 2.62%
 2.87% 2.88%
 0
 100
 200
 300
 400
 500
 3Q16 4Q16 1Q17 2Q17 3Q17
 NII Net Interest Margin
 126 
23 
86 
122 
166 
0
 25
 50
 75
 100
 125
 150
 175
 3Q16 4Q16 1Q17 2Q17 3Q17
 91
 (15) 
70 
91 
117 
-20
 5
 30
 55
 80
 105
 3Q16 4Q16 1Q17 2Q17 3Q17
 34 
2 
2 
SBNA: Quarterly Trended Statement of Operations 
(US$ in Mill ions) 3Q16 4Q16 1Q17 2Q17 3Q17
 Interest income 541$                 527$                 557$                 585$                 590$                 
Interest expense (108)                  (101)                  (97)                    (90)                    (91)                    
Net interest income 433                   426                   460                   495                   499                   
Fees & other income 248                   213                   197                   199                   210                   
Other non-interest income -                    -                    -                    9                        7                        
Net revenue 681                   639                   654                   703                   716                   
General & administrative expenses (539)                  (544)                  (517)                  (523)                  (495)                  
Other expenses (28)                    (48)                    (24)                    (25)                    (21)                    
(Provision for)/release of credit losses 12                     (24)                    (27)                    (33)                    (34)                    
(Loss)/i come before taxes 126                   23                     86                     122                   166                   
Income tax benefit/(expense) (35)                    (38)                    (16)                    (31)                    (49)                    
Net (loss)/income 91$                   (15)$                  70$                   91$                   117$                 
3Q16 4Q16 1Q17 2Q17 3Q17
 Net interest margin 2.33% 2.30% 2.62% 2.87% 2.88%
 35 
2 
2 
SBNA: Quarterly Average Balance Sheet 
Quarterly Averages 
(In mill ions)
 Average Yield/ Average Yield/ Average Yield/ Average Yield/
 Balance Rate Balance Rate Balance Rate Balance Rate
 Deposits and investments 21,061$     2.06% 21,070$     2.12% (9)$              -0.06% 22,018$        1.32%
 Loans 48,734       3.95% 49,341       3.88% (607)            0.07% 53,530          3.51%
 Allowance for loan losses (520)           --- (534)            --- 14               --- (633)               ---
 Other assets 9,045         --- 9,251          --- (206)            --- 10,597          ---
 TOTAL ASSETS 78,320$     3.01% 79,128$     2.99% (808)$         0.02% 85,512$        2.54%
 Interest-bearing demand deposits 8,701         0.25% 8,944          0.19% (243)            0.06% 9,780             0.24%
 Noninterest-bearing demand deposits 12,703       --- 12,488       --- 215             --- 11,439          ---
 Savings 4,112         0.05% 4,156          0.07% (44)              -0.02% 4,099             0.12%
 Money market 27,014       0.49% 27,360       0.48% (346)            0.01% 26,977          0.48%
 Certifi ates of deposit 4,827         1.15% 5,867          1.05% (1,040)        0.10% 8,357             0.91%
 Borrowed funds 5,772         2.59% 5,207          2.82% 565             -0.23% 9,438             2.06%
 Other liabilities 1,437         --- 1,440          --- (3)                --- 1,791             ---
 Equity 13,754       --- 13,666       --- 88               --- 13,631          ---
 TOTAL LIABILITIES & SE 78,320$     0.46% 79,128$     0.45% (808)$         0.01% 85,512$        0.50%
 NET INTEREST MARGIN 2.88% 2.87% 0.01% 2.33%
 3Q17 3Q162Q17 Change
 36 
2 
2 
SBNA: Funding – Deposits* 
1Represents average quarterly balances. 
*SBNA total deposits less the SHUSA cash deposit held at SBNA.   
Average Total Deposit Balances
 1 
($Bn)
 $57.1 $57.5 $56.9
 $55.1
 $52.9
 0.39% 0.39% 0.39%
 0.37% 0.38%
 0.30%
 0.35%
 0.39%
 0.44%
 0.48%
 0.53%
 3Q16 4Q16 2Q17 2Q17 3Q17
 Total Deposits Avg. Interest Cost
 Average Non Maturity Deposit Balances
 1 
($Bn)
 $48.8 $49.5 $49.8 $49.2 $48.1
 0.31% 0.30% 0.30% 0.29%
 0.31%
 0.20%
 0.25%
 0.30%
 0.35%
 0.40%
 0.45%
 0.50%
 3Q16 4Q16 1Q17 2Q17 3Q17
 Non Maturity Deposit Balances Avg. Interest Cost
 37 
$2,171  
$2,333  
$2,626  
$2,376  $2,337  
$2,018  
$2,108  
$1,969  $2,008  
4.09% 
4.35% 
4.81% 
4.36% 4.42% 
3.87% 
4.22% 
4.01% 4.13% 
3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17
 Criticized Balances Criticized Ratio
 $497  $513  
$710  
$687  
$615  
$583  $565  
$613  
$517  
3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17
 SBNA: Asset Quality 
$ MM
   
-27% $ MM
   
**Source: SNL Bank level data; Large Bank = BAC, COF, C, KEY, BMO, HSBA, PNC, RBS, JPM, UNB, TD, USB, and WFC 
 
1NPLs = Nonaccruing loans plus accruing loans 90+ DPD. 
2Criticized = loans that are categorized as  special mention, substandard, doubtful, or loss. 
3Delinquency = accruing loans 30-89 DPD plus accruing loans 90+ DPD. 
4See Appendix for definition and non-GAAP measurement reconciliation of Texas Ratio. 
-24% 
Deliquency3 
NPLs1 Criticized Balances2 
Texas Ratio4 
0.47% 
0.40% 0.43% 0.37% 0.39% 
0.47% 
0.41% 0.45% 
0.50% 
0.83% 0.86% 
0.76% 0.75% 0.73% 
0.80% 
0.74% 0.72% 0.77% 
3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17
 SBNA Large Banks**
 7.90% 
8.60% 
10.70% 10.30% 
9.60% 9.50% 9.20% 9.00% 
8.00% 
13.93% 13.97% 14.25% 13.66% 13.11% 12.92% 
12.11% 
11.38% 10.97% 
3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17
 SBNA Large Banks**
 38 
$10.7 $10.5 $10.3 $10.1 $9.8 $9.3 $9.1 $8.8 $8.7 
0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.0% 0.0% 0.1% 
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 
3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 
- 0.2% 
$4.5 $4.8 
$5.4 $5.5 $5.4 $5.4 $5.5 $5.4 $5.5 
- 
0.9% 0.8% 1.3% 
1.4% 1.1% 1.0% 0.8% 0.5% 0.5% 
0.1% 0.1% 0.2% 0.0% - 0.1% 0.2% - 0.1% 0.1% 
3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 
$6.0 $6.0 $5.9 $5.9 $5.9 $5.9 $5.8 $5.8 $5.7 
1.7% 1.8% 1.8% 1.7% 1.7% 1.7% 1.7% 1.8% 1.8% 
0.3% 0.3% 0.3% 0.3% 0.3% 0.2% 0.2% 0.2% 0.2% 
3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 
$6.7 $6.5 $6.4 $6.6 $6.7 
$7.0 $6.8 $7.2 
$7.4 
2.8% 2.7% 2.6% 2.4% 2.2% 2.3% 2.3% 1.9% 1.8% 
0.3% 0.2% 0.2% 0.2% 0.1% 0.1% 0.1% 0.1% 0.0% 
3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 
SBNA: Asset Quality (cont.)  
*NPL = Nonaccruing loans plus accruing loans 90+ DPD      **NCO = Rolling 12-month average for that quarter and the prior 3 quarters 
1Commercial real estate (“CRE”) is comprised of the  commercial real estate and continuing care retirement communities  
business segments (SREC segment included in separate graph). 
US $ Billions 
Mortgages Home Equity 
Commercial Real Estate1 Santander Real Estate Capital 
Outstandings NPLs* to Total Loans Net Charge-Offs**
 39 
$3.1 $3.0 $2.9 $2.9 $3.0 $3.1 $2.9 $3.0 $2.8 
2.1% 
2.6% 2.4% 2.3% 2.4% 2.3% 2.1% 2.1% 2.2% 
0.9% 0.9% 1.0% 0.9% 0.8% 0.8% 0.6% 0.6% 0.6% 
3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 
$1.7 $1.7 $1.6 $1.6 $1.6 $1.6 $1.5 $1.5 
$1.6 
2.0% 1.8% 1.7% 1.7% 1.8% 1.9% 1.8% 1.8% 1.7% 
2.6% 2.7% 2.7% 2.8% 2.9% 
3.1% 3.4% 
3.7% 3.8% 
3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 
$9.7 $10.0 $10.1 $9.4 
$8.4 $7.9 
$6.8 
$5.7 
$5.2 
0.1% 
0.2% 
0.6% 0.7% 0.8% 
0.0% 0.1% 
1.2% 
0.0% 0.0% 
0.3% 
0.3% 0.3% 0.3% 
0.4% 0.4% 
0.6% 
0.7% 
3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 
$10.6 
$11.4 
$11.8 
$12.4 $12.2 $12.0 
$11.5 $11.7 $11.6 
0.5% 0.5% 
1.7% 1.5% 
1.1% 1.3% 
1.5% 1.6% 1.4% 
0.1% 0.2% 0.1% 0.0% 0.1% 
0.6% 0.7% 0.8% 0.8% 
3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 
1Commercial Banking = Middle Market, Asset Based Lending, Energy Finance, Government Banking, Mortgage Warehouse,  Equipment Finance & Leasing, Commercial Banking not 
classified elsewhere, Financial Institutions Coverage, Institutional-Non Profit, CEVF-Strategic, Chrysler Auto Finance and Footprint Dealer Floorplan.  
2Global Corporate Banking  =  Non-CRE total for Global Corporate Banking. 
3Other Commercial =  All other Commercial Business segments. 
4Other Consumer =  Direct Consumer, Indirect Consumer, RV/Marine, Credit Cards, SFC, & Retail run-off. 
SBNA: Asset Quality (cont.) 
*NPL = Nonaccruing loans plus accruing loans 90+ DPD    **NCO = Rolling 12-month average for that quarter and the prior 3 quarters 
US $ Billions 
Outstandings NPLs* to Total Loans Net Charge-Offs** 
Other Commercial3 Other Consumer4 
Global Corporate Banking2 Commercial Banking1
 40 
2 
2 
SBNA: Capital Ratios1 
1Capital ratios calculated under the U.S. Basel III framework on a transitional basis.  On a fully phased-in basis CET1 
was 17.7% as of 3Q17.  See SHUSA 3Q  2017 Form 10-Q. 
15.7% 16.2% 
17.0% 17.6% 
18.1% 
3Q16 4Q16 1Q17 2Q17 3Q17
 15.7% 16.2% 
17.0% 17.6% 
18.1% 
3Q16 4Q16 1Q17 2Q17 3Q17
 12.3% 12.3% 12.9% 
13.4% 13.7% 
3Q16 4Q16 1Q17 2Q17 3Q17
 17.0% 17.4% 
18.2% 18.7% 19.2% 
3Q16 4Q16 1Q17 2Q17 3Q17
 Tier 1 Risk-Based Capital Ratio Total Risk-Based Capital Ratio 
Tier 1 Leverage Ratio Common Equity Tier 1
 41 
2 
2 
SBNA: Non-GAAP to GAAP Reconciliations 
$ Millions 3Q16 4Q16 1Q17 2Q17 3Q17
 Tier 1 Common to Risk-Weighted Assets
 Tier 1 Common Capital 10,025$        10,006$        10,031$        10,154$        10,238$       
Risk Weighted Assets 64,015 61,886 59,111 57,725 56,622
 Ratio 15.7% 16.2% 17.0% 17.6% 18.1%
 Tier 1 Leverage
 Tier 1 Capital 10,025$        10,006$        10,031$        10,154$        10,238$       
81,815          81,076          77,909          75,603          74,807         
Ratio 12.3% 12.3% 12.9% 13.4% 13.7%
 Tier 1 Risk Based
 Tier 1 Capital 10,025$        10,006$        10,031$        10,154$        10,238$       
Risk Weighted Assets 64,015 61,886 59,111 57,725 56,622
 Ratio 15.7% 16.2% 17.0% 17.6% 18.1%
 Total Risk Based
 Risk Based Capital 10,874$        10,759$        10,785$        10,786$        10,870$       
Risk Weighted Assets 64,015          61,886          59,111          57,725          56,622         
Ratio 17.0% 17.4% 18.2% 18.7% 19.2%
 Average total assets for leverage capital purposes
 42 SBNA: Non-GAAP to GAAP Reconciliations (cont.) 
1Mortgage servicing rights. 
2Troubled debt restructuring. 
$ Millions 3Q16 4Q16 1Q17 2Q17 3Q17
 Santander Bank Texas Ratio
 Total Equity 13,610$        13,418$        13,504$        13,622$        13,695$       
Less:
 Goodwill and other intangibles (excluding MSRs)1 (3,681)           (3,664)           (3,649)           (3,630)           (3,618)          
Preferred stock - - - - -
 Add:  Allowance for loan losses 616               533               535               521               518              
Total equity and loss allowances for texas ratio 10,545$        10,287$        10,390$        10,513$        10,595$       
Nonperforming assets 648$             618$             596$             636$             544$            
90+ DPD accruing 3 3 4 5 0
 Accruing TDRs
 2
 356 353 361 308 304
 Total nonperforming assets 1,007$          974$             961$             949$             848$            
Texas ratio 9.5% 9.5% 9.2% 9.0% 8.0%
 43 
2 
2 
SBNA: Non-GAAP to GAAP Reconciliations (cont.) 
$ Milli s 3Q16 4Q16 1Q17 2Q17 3Q17
 Santander Bank pre-tax pre-provision income
 Pre-tax (loss)/income, as reported 126$             23$               687$             122$             166$             
Add back:
 (Release of) / provision for credit losses (12)                24                 27                 33                 34                 
Pre-tax pre-provision income 114$             47$               113$             155$             200$
 44 
2 
2 
1 Manheim, Inc.; Indexed to a basis of 100 at 1995 levels; JD Power Used-Vehicle Price Index (not seasonally adjusted) 
2 Auction Only - includes all auto-related recoveries including inorganic/purchased receivables from auction lanes only 
2 Auction Plus – Per the financial statements includes insurance proceeds, bankruptcy/deficiency sales, and timing impacts  
3 Standard & Poor’s Rating Services (ABS Auto Trust Data – two-month lag on data, as of July 31, 2017) 
 
SOURCE:  SC Third Quarter 2017 Presentation in Form 8-K filed on October 27, 2017.  
See http://investors.santanderconsumerusa.com/financial-info/quarterly-results. 
SC: Auto Industry Analysis
 45 
 YoY auto origination decreases driven by disciplined underwriting in a competitive market 
($ in Millions) Q3 2017 Q2 2017 Q3 2016 QoQ YoY
 Total Core Retail Auto 1,550$                    2,253$                    1,972$                    (31%) (21%)
 Chrysler Capital Loans (<640)1 850                           948                          855                           (10%) (1%)
 Chrysler Capital Loans (≥640)1 928                           854                          1,034                       9% (10%)
 Total Chrysler Capital Retail 1,778$                    1,802$                    1,889$                    (1%) (6%)
 Total Leases
 2
 1,668                       1,428                      1,303                       17% 28%
 Tot l Auto Originations 4,996$                    5,483$                    5,164$                    (9%) (3%)
 Total Personal Lending -                           6                              -                           N/A N/A
 Total Originations 4,996$                    5,489$                    5,164$                    (9%) (3%)
 Asset Sales 1,482$                    566$                        794$                        162% 87%
 Average Managed Assets 49,998$                  50,436$                  52,675$                  (1%) (5%)
 Three Months Ended Originations % Variance
 1 Approximate FICOs 
2 Includes nominal capital lease originations 
SOURCE:  SC Third Quarter 2017 Presentation in Form 8-K filed on October 27, 2017.  
See http://investors.santanderconsumerusa.com/financial-info/quarterly-results. 
SC: Diversified underwriting across the credit spectrum
 46 
2% 2% 2% 2% 2% 
12% 11% 12% 12% 10% 
13% 15% 18% 17% 14% 
23% 24% 
25% 24% 
23% 
14% 15% 
13% 13% 
13% 
35% 32% 30% 33% 38% 
3Q16 4Q16 1Q17 2Q17 3Q17
 Originations by Credit (RIC1 only) 
($ in millions) 
>640
 600-640
 540-599
 <540
 No FICO
 Commercial
 56% 53% 47% 48% 55% 
44% 47% 53% 52% 45% 
3Q16 4Q16 1Q17 2Q17 3Q17
 New/Used Originations 
($ in millions) 
Used
 New
  Originations <640 decreased by approximately $436 million YoY 
 Mix relatively constant on a percentage basis 
 Higher proportion of new vehicles originated in Q3 2017 
compared to Q2 2017, in-line with prime originations 
 Average loan balances on originations higher QoQ, reflecting 
larger percentage of new vehicles 
Average loan balance in dollars $21,482 $21,488 $20,193 $20,816 $21,825 
$3,328 $3,861 $3,553 $4,055 $3,786 
2 
$2,065 $2,501 
$3,328 $3,861 $3,553 $4,055 $3,786 
1 RIC; Retail Installment Contract 
2 Loans to commercial borrowers; no FICO score obtained 
 
SOURCE:  SC Third Quarter 2017 Presentation in Form 8-K filed on October 27, 2017.  
See http://investors.santanderconsumerusa.com/financial-info/quarterly-results. 
SC: Originations diversified across credit spectrum
 47 
$610
 $686 $635
 $521 $536
 12.4%
 12.6%
 12.7%
 12.6%
 12.8%
 12.2%
 12.3%
 12.4%
 12.5%
 12.6%
 12.7%
 12.8%
 12.9%
 $0
 $100
 $200
 $300
 $400
 $500
 $600
 $700
 $800
 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017
 Provision Expense and Allowance Ratio
 ($ in millions)
 Provision for credit losses Allowance Ratio
  
 Allowance to loans ratio increased 20 bps to 12.8% QoQ 
 Provision for credit losses decreased $74 million YoY  
 
1 TDR migration – the allowance for assets classified as TDRs or “troubled debt restructuring” takes into consideration expected lifetime losses, typically requiring additional coverage 
2 Explanation of quarter over quarter variance are estimates 
 
TBU – Grace M. 
$3,458
 $3,381
 $138
 $130
 ($41)
 ($304)
 $3,200
 $3,300
 3,4 0
 $3,500
 $3,600
 $3,700
 $3,800
 Q2 2017 New
 Volume
 TDR
 Migration
 Performance
 Adjustment
 Liquidations
 & Other
 Q3 2017
 Q2 2017 to Q3 2017 ALLL Reserve Walk2
 ($ in millions)
  
 QoQ allowance decreased $77 million  
 New volume and TDR migration1 were offset by 
liquidations and other 
SOURCE:  SC Third Quarter 2017 Presentation in Form 8-K filed on October 27, 2017.  
See http://investors.santanderconsumerusa.com/financial-info/quarterly-results. 
SC: Asset Quality – Provisions and Reserves