Santander Holdings USA announced that it submitted a proposal to Santander Consumer USA Holdings to acquire all outstanding shares of common stock of SC not already owned by SHUSA for $39.00 per share in cash. The proposal represents a 7.4% premium to June 30’s closing price of $36.32 and a 30.4% premium to SC’s average share price since January 1, 2021. SHUSA currently owns approximately 80% of SC’s outstanding shares of common stock and, if the transaction is completed, SC would become a wholly-owned subsidiary of SHUSA.

There can be no assurance that the proposal will lead to a transaction or as to any of the terms or conditions of such transaction.