Q3 Press Release (PDF 305 KB)

Exhibit 99.1

Santander Consumer USA Holdings Inc. Reports

Third Quarter 2021 Results

Net Income of $763 Million and $7.8 Billion in Originations in the Third Quarter 2021

Dallas, TX - October 27, 2021 - PRESS RELEASE

Santander Consumer USA Holdings Inc. (NYSE: SC) ("SC" or the "Company") today announced net income for the third quarter ended September 30, 2021 ("Q3 2021") of $763 Million, or $2.49 per diluted common share.

The Company's parent, Santander Holdings USA, Inc. ("SHUSA"), has requested regulatory approval to authorize the SC Board of Directors to consider declaring a dividend in the fourth quarter. To date, approval has not been received.

Third Quarter of 2021 Highlights (variances compared to third quarter of 2020 ("Q3 2020"), unless otherwise noted)

• Net Income of $763 million in Q3 2021, or $2.49 of diluted EPS
• Total auto originations of $7.8 billion, down 7%
• • Core retail auto loan originations of $3.1 billion, up 17%
  • Chrysler Capital loan originations of $2.8 billion, down 27%
  • Chrysler Capital lease originations of $1.8 billion, down 2%
  • Chrysler average quarterly penetration rate of 27%, down from 33%
  • Santander Bank, N.A. program originations of $1.8 billion1
• Donated $50 million to the SC Foundation
• Announced launch of new dealer and consumer digital experience through partnership with AutoFi
• Net finance and other interest income2 of $1.3 billion, up 5.8%
• 30-59delinquency ratio3 of 6.8%, up 180 basis points
• 59-plusdelinquency ratio3 of 3.3%, up 90 basis points
• Retail Installment Contract ("RIC") gross charge-off ratio of 7.7%, up 90 basis points
• Recovery rate of 74.4%, down from 91.4%
• RIC net charge-off ratio4 of 2.0%, up 140 basis points
• Allowance ratio of 17.4%, down from 17.8% as of June 30, 2021
• Troubled Debt Restructuring ("TDR") balance of $4.0 billion, down from $4.2 billion as of June 30, 2021
• Executed ~$300 million in off-balance sheet prime loan sales
• Return on average assets ("ROA") of 6.3%
• Expense ratio of 2.2%, up 50 basis points
• Common equity tier 1 ("CET1") ratio of 19.5%

1Includes SBNA retail originations of $1.5 billion and lease originations of $249 million for the current period 2Includes Finance receivables held for investment, Finance receivables held for sale and Leased vehicles.

3Delinquency Ratio is defined as the ratio of end of period delinquent principal, categorized as either 30-59 or over 59 days, to end of period gross balance of the respective portfolio, excludes finance leases.

4Net Charge-Off Ratio stated on a recorded investment basis, which is unpaid principal balance adjusted for unaccreted net discounts, subvention and origination costs.

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Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements about our expectations, strategies, beliefs, plans, predictions, forecasts, objectives, assumptions, or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as anticipates, seeks, believes, can, could, may, predicts, potential, should, would, will, estimates, plans, projects, continuing, ongoing, expects, intends, and similar words or phrases. Examples of forward-looking statements include, but are not limited to, all statements we make relating to revenue, earnings, margins, growth rates, and other financial results for future periods. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these statements are not guarantees of future performance and involve risks and uncertainties that are subject to change based on various important factors, some of which are beyond our control. For additional discussion of these risks, refer to the section entitled Risk Factors and elsewhere in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, or other applicable documents that are filed or furnished with the U.S. Securities and Exchange Commission (collectively, our "SEC filings"). The factors that could cause the forward-looking statements in this press release and/or our financial performance to differ materially from that suggested by the forward-looking statements include the following: (a) the adverse impact of COVID-19 or any future outbreak of any contagious diseases on our business, financial condition, liquidity and results of operations;

1. continually changing federal, state, and local laws and regulations could materially adversely affect our business;
2. adverse economic conditions in the United States and worldwide could materially impact consumer spending behavior, unemployment and demand for our products, which could negatively impact our results; (d) the effects of inflation; (e) a reduction in our access to funding; (f) significant risks we face implementing our growth strategy, some of which are outside our control; (g) our agreement with FCA US LLC may not result in currently anticipated levels of growth and is subject to certain conditions that could result in termination of the agreement; (h) our business could suffer if we are unsuccessful in developing and maintaining relationships with automobile dealerships; (i) our financial condition, liquidity, and results of operations depend on the credit performance of our loans; (j) loss of our key management or other personnel, or an inability to attract such management and personnel;

1. certain regulators, including but not limited to the Office of the Comptroller of the Currency, the Consumer Financial Protection Bureau, the European Central Bank, and the Federal Reserve, whose oversight and regulation may limit certain of our activities, including the timing and amount of dividends and other limitations on our business;
2. there can be no assurance that the proposed acquisition of all of our outstanding common stock by Santander Holdings USA, Inc. ("SHUSA") will be approved and ultimately consummated, and the terms of any such transaction may differ materially from those originally proposed by SHUSA; (m) other future changes in our relationship with SHUSA and Banco Santander, S.A. that could adversely affect our operations; (n) our expectations regarding future litigation both known and unknown; (o) our inability to accurately forecast the amount and timing of future collections could have a material adverse effect on our results of operations; (p) our reputation is a key asset to our business, and our business may be affected by how we are perceived in the marketplace; and (q) our debt could negatively impact our business, prevent us from satisfying our debt obligations and adversely affect our financial condition. If one or more of the factors affecting our forward-looking information and statements proves incorrect, our actual results, performance or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements. Therefore, we caution the reader not to place undue reliance on any forward-looking information or statements. The effect of these factors is difficult to predict. Factors other than these also could adversely affect our results, and the reader should not consider these factors to be a complete set of all potential risks or uncertainties as new factors emerge from time to time. Any forward-looking statements only speak as of the date of this document, and we undertake no obligation to update any forward-looking information or statements, whether written or oral, to reflect any change, except as required by law. All forward-looking statements attributable to us are expressly qualified by these cautionary statements.

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About Santander Consumer USA Holdings Inc.

Santander Consumer USA Holdings Inc. (NYSE: SC) ("SC") is a full-service consumer finance company focused on vehicle finance, third-party servicing and delivering superior service to our more than 3.1 million customers across the full credit spectrum. SC, which began originating retail installment contracts in 1997, had an average managed asset portfolio of approximately $65 billion (for the third quarter ended September 30, 2021), and is headquartered in Dallas, Texas. (www.santanderconsumerusa.com)

CONTACTS:

Investor Relations Evan Black 800.493.8219 [e-mail]

Media Relations Laurie Kight 214.801.6455 [e-mail]

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Santander Consumer USA Holdings Inc.

Financial Supplement

Third Quarter 2021

Table of Contents
Table 1: Condensed Consolidated Balance Sheets	5
Table 2: Condensed Consolidated Statements of Income	6
Table 3: Other Financial Information	7
Table 4: Credit Quality	8
Table 5: Originations	10
Table 6: Asset sales	11
Table 7: Ending Portfolio	12
Table 8: Reconciliation of Non-GAAP Measures	13

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Table 1: Condensed Consolidated Balance Sheets

	September 30, 2021		December 31, 2020
Assets		(Unaudited, Dollars in thousands)
Cash and cash equivalents	$	2,106,405	$	109,053
Finance receivables held for sale, net		359,561			1,567,527
Finance receivables held for investment, at amortized cost		33,183,439			33,114,638
Allowance for credit loss		(5,699,698)			(6,110,633)
Finance receivables held for investment, at amortized cost, net		27,483,741			27,004,005
Restricted cash		2,248,667			2,221,094
Accrued interest receivable		323,469			415,765
Leased vehicles, net		15,529,610			16,391,107
Furniture and equipment, net		62,168			62,032
Goodwill		74,056			74,056
Intangible assets		75,176			70,128
Other assets		811,597			972,726
Total assets	$	49,074,450	$	48,887,493
Liabilities and Equity
Liabilities:
Borrowings and other debt obligations	$	38,431,858	$	41,138,674
Deferred tax liabilities, net		1,855,859			1,263,796
Accounts payable and accrued expenses		554,581			531,369
Other liabilities		299,422			331,693
Total liabilities	$	41,141,720	$	43,265,532
Equity:
Common stock, $0.01 par value		3,061			3,061
Additional paid-in capital		391,343			393,800
Accumulated other comprehensive income, net		(31,194)			(50,566)
Retained earnings		7,569,520			5,275,666
Total stockholders' equity	$	7,932,730		$	5,621,961
Total liabilities and equity	$	49,074,450	$	48,887,493

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