Item 8.01. Other Events.

On August 10, 2020, Santander Consumer USA Holdings Inc. (the "Company") substantially exhausted the amount of shares the Company was permitted to repurchase under the previously disclosed exception to the interim policy related to the Dodd-Frank Act Stress Test and Comprehensive Capital Analysis and Review approved by the Federal Reserve Bank (the "Exception"). Since July 31, 2020, the Company has acquired an aggregate of 9.58 million shares in a combination of open market and privately negotiated repurchases, and expects to repurchase an immaterial number of shares remaining under the Exception.

As a result of these repurchases, Santander Holdings USA, Inc. owns approximately 80.25% of the Company.

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