Informação Prestada às Bolsas Estrangeiras

Banco Santander (Brasil) S.A.

Parent Company and Consolidated Condensed Interim Financial Statements Prepared in Accordance with Accounting Practices Established by Brazilian Corporate Law, Applicable to Institutions Authorized to Operate by the Central Bank of Brazil

September 30, 2021

Index

Performance Review ...................................................................................................................................................................................................................................	3
Balance Sheet...............................................................................................................................................................................................................................................	12
Statement of Income ................................................................................................................................................................................................................................	14
Statement of Comprehensive Income...............................................................................................................................................................................................	15
Statements of Changes in Stockholders' Equity - Bank ............................................................................................................................................................	16
Statements of Changes in Stockholders' Equity - Consolidated ...........................................................................................................................................	17
Statement of Cash Flows.........................................................................................................................................................................................................................	19
Statement of Value Added.....................................................................................................................................................................................................................	21
1.	General Information .............................................................................................................................................................................................................................	22
2.	Presentation of Financial Statements ...........................................................................................................................................................................................	22
3.	Significant Accounting Policies .......................................................................................................................................................................................................	23
4.	Cash and Cash Equivalents................................................................................................................................................................................................................	23
5.	Interbank Investments.........................................................................................................................................................................................................................	24
6.	Securities and Derivatives Financial Instruments .....................................................................................................................................................................	25
7.	Interbank Accounts...............................................................................................................................................................................................................................	41
8.	Credit Portfolio and Allowance for Expected Losses Associated with Credit Risk.....................................................................................................	41
9.	Other Financial Assets .........................................................................................................................................................................................................................	45
10.	Tax Assets and Liabilities .................................................................................................................................................................................................................	45
11.	Other Assets..........................................................................................................................................................................................................................................	50
12.	Dependences Information and Foreign Subsidiary..............................................................................................................................................................	50
13.	Investments in Affiliates and Subsidiaries Subsidiary..........................................................................................................................................................	51
14.	Fixed Assets...........................................................................................................................................................................................................................................	57
15.	Intangibles .............................................................................................................................................................................................................................................	58
16.	Funding ...................................................................................................................................................................................................................................................	58
17.	Other Financial Liabilities.................................................................................................................................................................................................................	61
18.	Other Payables - Other ....................................................................................................................................................................................................................	62
19.	Provisions, Contingent Assets and Liabilities and Legal Obligations - Tax and Social Security........................................................................	63
20.	Stockholders' Equity ..........................................................................................................................................................................................................................	67
21.	Related Parties .....................................................................................................................................................................................................................................	69
22.	Income from Services Rendered and Banking Fees .............................................................................................................................................................	78
23.	Personnel Expenses............................................................................................................................................................................................................................	78
24.	Other Administrative Expenses.....................................................................................................................................................................................................	78
25.	Other Operating Income .................................................................................................................................................................................................................	79
26.	Other Operating Expenses..............................................................................................................................................................................................................	79
27.	Non-Operating Income....................................................................................................................................................................................................................	79
28.	Employee Benefit Plans - Post-Employment Benefits .........................................................................................................................................................	79
29.	Risk Management, Capital and Sensitivity Analysis .............................................................................................................................................................	81
30.	Other information...............................................................................................................................................................................................................................	85
31.	Subsequent Events.............................................................................................................................................................................................................................	87

• Values expressed in thousands, unless otherwise indicated.
  Performance Review Dear Stockholders:

We present the Performance Commentary to the Condensed Individual and Consolidated Interim Financial Statements of Banco Santander (Brasil) S.A. (Banco Santander or Banco) for the period ended September 30, 2021, prepared in accordance with accounting practices adopted in Brazil, established by Corporation Law, together with the rules of the National Monetary Council (CMN), the Central Bank of Brazil (Bacen) and the model of the document provided for in the Accounting Plan of Institutions of the National Financial System (Cosif) and the Securities Commission (CVM), which do not conflict with the rules issued by Bacen.

The Condensed Consolidated Interim Financial Statements prepared based on the international accounting standards issued by the International Accounting Standards Board (IASB) for the period ended September 30, 2021 were simultaneously disclosed on the website www.santander.com.br/ri.

1. Macroeconomic Environment

At the end of the third quarter of 2021, Banco Santander observed the median of projections regarding the performance of the Brazilian economy indicating a growth of the Brazilian GDP of 5.0% in 2021, compared to a contraction of 4.06% in the previous year. The projection for 2021 is lower than that observed at the end of the second quarter and, in the Bank's assessment, was influenced by the recent publication that the actual result observed in that period was below the market consensus - the median of the estimates indicated seasonally adjusted quarterly expansion of 0 .2% for the second quarter of 2021. The economic activity data released came in line with our GDP growth estimate in the previous quarter (we also estimated a 0.2% increase) and we reinforce our expectation that the Brazilian economy will grow 5 .1% in 2021.

Also, in this quarter, the Bank witnessed the interannual variation of the IPCA reaching 9.68%, a level well above the target set for 2021 (3.75%) and also above the 8.5% projected by Santander for the same year. The Bank understands that this inflationary environment and its balance of risks were the motivators for the Central Bank of Brazil to raise the basic interest rate of 4.25% p.a. to 6.25% p.a. between the previous quarter and the last Copom meeting. Santander believes that this approach to the Selic rate increases the chance that inflation will converge to the established targets within the relevant time horizon for monetary policy. In this sense, the Bank projects that the Selic rate will reach 8.25 % p.a. at the end of 2021 and 8.5% p.a. at the end of 2022.

Regarding the behavior of the exchange rate, Banco Santander saw the quotation of the Brazilian currency against the US dollar end the second quarter of 2021 quoted at R$5.00/US$. That is, below the rate of R$5.80/US$ seen at the end of the previous quarter. This trajectory of devaluation of the real is in line with our forecast that the exchange rate will end the year 2021 quoted at R$5.25/US$.

The performances mentioned above took place in the midst of an international environment that the Bank considered favorable and which highlighted the following theme: the process of reopening and the resumption of economic activity. Regarding the Coronavirus Pandemic, the concern with the Delta variant is less (at the margin), as the situation is apparently under control (from the point of view of hospitalization and deaths). In China, concern about the economic slowdown at the beginning of the second half of the year has already provoked a reaction from the Chinese government, which has returned to adding stimulus to the economy (mainly through the credit channel). It is noteworthy that this stimulus will be smaller than that of 2020, but should reduce the risks of a pronounced slowdown ahead. On the inflation side, the scenario has evolved with the cooling of inflation in the latest readings. With commodity prices losing pace recently, the base effect dissipating and the bottlenecks caused by the reopening of economies being resolved, the latest data already show inflation starting to decline, although it still continues to show numbers considerably above the target. Therefore, although the IPCA variation should end above the inflation target in 2021 and 2022, we continue to assess that there will be a trajectory of convergence towards lower levels, with the achievement of the target in 2023 being a feasible scenario.

Individual and Consolidated Condensed Interim Financial Statements | September 30, 2021 | 3

• Values expressed in thousands, unless otherwise indicated.
  2. Performance
  2.1) Corporate Income

Consolidated Income Statements (R$ Millions)		9M21	9M20	annual	3Q21	2Q21	quarter
	changes %	changes %
Financial Income		69,809.1	101,346.7		(31.1)	39,555.9	(7,503.8)	(1,030.3)
Financial Expenses		(40,047.7)		(94,402.8)		(57.6)	(31,149.0)	20,918.0	(291.5)
Gross Profit from Financial Operations (a)		29,761.3		6,943.9		328.6	8,406.9	13,414.2	121.9
Other Operating (Expenses) Income (a)		(11,540,6)		(8,716.6)		32.4	(4,012.4)	(3,492.5)	230.4
Operating Income		18,220.8		(1,772.6)	(1,127.9)	4,394.5	9,921.7	83.6
Non-Operating Income		51,3		252.5		(79.7)	23.2	(1.1)	(4,759.9)
Income Before Taxes on Income and Profit Sharing		18,272.0		(1,520.2)	(1,302.0)	4,417.7	9,920.6	84.2
Income Tax and Social Contribution (a)		(5,552.0)		12,653.3		(143.9)	374.9	(5,306.5)	4.6
Profit Sharing		(1,441.6)		(1,421.2)		1.4	(501.2)	(468.6)	207.6
Non-Controlling Interest		(87.1)		(101.1)		13.9	(19.1)	(42.6)	104.4
Consolidated Net Income		11,191.3		9,610.6		16.4	4,272.2	4,102.9	172.8
OPERATING RESULT BEFORE ADJUSTED				annual				quarterly
TAXATION	9M21	9M20		3Q21	2Q21
	changes %		changes %
(R$ Million)
Result before Taxation on Profit and	18,272.0	(1,520.0)	(1,302.1)		4,417.7	9,920.5	(55.5)
Participation
Foreign Exchange Hedge	1,454.7	17,519.2			(91.7)		2,247.1	(2,841.9)	(179.1)
Operating Income Before Adjusted Taxation	19,726.7	15,999.2			23.3		6,664.8	7,078.6	(5.8)
INCOME TAX	9M21	9M20	annual		3Q21	2Q21	quarterly
(R$ Million)	changes %		changes %
Income Tax and Social Contribution	(5,552.0)	12,653.0			(143.9)		374.9	(5,306.5)	(107.1)
Foreign Exchange Hedge	(1,454.7)	(17,519.2)		(91.7)		(2,247.1)	2,841.9	(179.1)
Adjusted Income Tax and Social	(7,006.7)	(4,866.2)		44.0	(1,872.2)	(2,464.6)	(24.0)
Contribution

The annualized return for the period, based on the accounting result on average equity, reached 28.9%, an increase of 3.2 p.p. compared to the same period in 2020.

a) Foreign Exchange Hedge of Grand Cayman and Luxembourg Branches

Banco Santander operates branches in the Cayman Islands and Luxembourg, which are used mainly to raise funds in the international capital and financial markets, to provide the Bank with lines of credit that are extended to its customers for trade financing abroad and working capital. To cover exposure to exchange variations, the Bank uses external funding and derivative instruments. In accordance with Brazilian tax rules, as of January 2021, 50% of the gains or losses arising from the impact of the appreciation or devaluation of the Real on foreign investments started to be computed in the determination of taxable income and in the calculation basis of the Contribution Social on Net Income (CSLL) of the investing legal entity domiciled in the country, while the gains or losses on obligations and derivative instruments used as coverage are 100% taxable or deductible. The purpose of these derivative instruments is to protect net income after taxes. As of 2022, all exchange variation will be computed in the IRPJ and CSLL tax base.

The different tax treatment of such exchange differences results in volatility in the operating result and in the tax expense accounts (PIS/COFINS) and income taxes (IR/CSLL), as shown below:

Foreign Exchange Hedge of the Grand Cayman and			annual			quarterly
Luxembourg Branches	9M21	9M20	changes %	3T21	2T21 changes %
(R$ Million)
Exchange Variation - Profit from Financial Operations	2,436.1	21,807.3	(88.8)	4,380.5	(6,959.5)	(162.9)
Derivative Financial Instruments - Profit from Financial Operations	(4,058.3)	(40,098.7)	(89.9)	(6,927.6)	10,278.7	(167.4)
Income Tax and Social Contribution	1,454.7	17,519.2	(91.7)	2,247.1	(2,841.9)	(179.1)
PIS/Cofins - Tax Expenses	167.4	772.2	(78.3)	300.8	(477.9)	(162.9)

Individual and Consolidated Condensed Interim Financial Statements | September 30, 2021 | 4

• Values expressed in thousands, unless otherwise indicated.
  2.2) Assets and Liabilities

Consolidated Balance Sheets	Sep/21	Dec/20	annual
(R$ Millions)	changes %
Current Assets	532,419,5	603,330.9	(11.8)
Long-Term Assets	437,621,9	399,058.1	9.7
Total Assets	970,041,4	1,002,389.0	(3.2)
Current and Long-Term Liabilities	889,443,7	921,914.6	(3.5)
Deferred Income	423,7	355.5	19.2
Non-Controlling Interest	1,344,5	1,150.7	16.8
Stockholders' Equity	78,829,6	78,968.2	(0.2)
Total Liabilities and Stockholders' Equity	970,041,4	1,002,389.0	(3.2)

2.3) Stockholders' Equity

On September 30, 2021, Banco Santander's consolidated stockholders' equity decreased by 0.2% compared to December 31, 2020.

The variation in Stockholders' Equity between September 30, 2021 and December 31, 2020 was mainly due to the net income for the period in the amount of R$11,191 million, the negative equity valuation adjustment (bonds and securities and financial instruments derivatives) in the amount of R$2,686 million and the capital reduction in the amount of R$2,000 million, the payment of dividends in the amount of R$3,000 million and interest on equity in the amount of R$3,400 million.

For additional information, see note 20.

2.4) Basel Index

Bacen determines that financial institutions maintain a Reference Equity (PR), PR Level I and Principal Capital compatible with the risks of their activities, higher than the minimum requirement of the Required Reference Equity, represented by the sum of the credit risk and risk portions market and operational risk.

As established in CMN Resolutions No. 4,193/2013 and No. 4,783/2020, until March 2021 the PR requirement was at 10.25%, including 8.00% Minimum Reference Equity plus 1.25% Additional Conservation of Capital and 1.00% of Systemic Additional. PR Level I was 8.25% and Minimum Core Capital 6.75%.

Throughout 2021, the Capital Conservation Supplement goes through two increases, reaching 1.625% in April and 2.00% in October. Thus, in September the PR requirement is 10.625%, and at the end of 2021 it will be 11.00%. For September, 8.00% of the Minimum Reference Equity plus 1.625% of Additional Capital Conservation and 1.00% of Systemic Additional is considered, with the requirement of PR Level I of 8.625% and Minimum Principal Capital of 7.125%. By the end of 2021, the PR requirement reaches 11.0%, considering an 8.00% Minimum Reference Equity plus 2.00% Capital Conservation Additional and 1.00% Systemic Additional, with a requirement of PR Tier I and Minimum Principal Capital at the end of 2021 of 9.00% and 7.50%, respectively.

Continuing with the adoption of the rules established by CMN Resolution No. 4,192/2013, as of January 2015, the Prudential Consolidated, defined by CMN Resolution No. 4,280/2013, came into effect.

The index is calculated on a consolidated basis based on information from the Prudential Consolidated, as shown below:

Basel Index %	Sep/21	Dec/20
Basel I Ratio	13.14	14.06
Basel Principal Capital	11.97	12.87
Basel Regulatory Capital	14.30	15.25

2.5) Main Subsidiaries

The table below shows the balances of total assets, stockholders' equity, net income and loan operations portfolio for the period ended September 30, 2021, of Banco Santander's main subsidiaries:

Subsidiaries (R$ Millions)	Total	Stockholders'	Net	Loan	Ownership/
Assets	Equity	Income	Portfolio	Interest (%)
Aymoré Crédito, Financiamento e Investimento S.A.	58,109.6	2,412.0	869.8	52,898.8	100.0%
Santander Leasing S.A. Arrendamento Mercantil	14,230.5	11,138.9	195.8	2,362.8	100.0%
Santander Corretora de Seguros, Investimento e Serviços S.A.	11,603.4	4,363.2	767.8	-	100.0%
Banco RCI Brasil S.A.	11,125.3	1,668.2	120.8	8,665.2	39.9%
Atual Serviços de Recuperação de Créditos e Meios Digitais S.A.	2,657.7	2,637.6	44.0	-	100.0%
Santander Corretora de Câmbio e Valores Mobiliários S.A.	1,320.6	799.2	68.8	-	100.0%

Individual and Consolidated Condensed Interim Financial Statements | September 30, 2021 | 5