Exhibit 99.2 Fourth Quarter 2019 January 29, 2020
Forward-Looking Statements (a) the inherent limitations in internal controls over financial reporting; (b) our ability to remediate any material weaknesses in internal controls IMPORTANT over financial reporting completely and in a timely manner; (c) continually changing federal, state, and local laws and regulations could materially adversely affect our business; (d) adverse economic INFORMATION conditions in the United States and worldwide may negatively impact our results; (e) our business could suffer if our access to funding is reduced; (f) significant risks we face implementing our growth strategy, some of which are outside our control; (g) unexpected costs and delays in connection with exiting our personal lending business; (h) 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; (i) our business could suffer if we are unsuccessful in developing and maintaining relationships with automobile dealerships; (j) our financial condition, liquidity, and results of operations depend on the credit performance of our loans; (k) loss of our key management or other personnel, or an inability to attract such management and personnel; (l) certain regulations, including but not limited to oversight by 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 This presentation contains forward-looking statements within the meaning of certain of our activities, including the timing and amount of dividends the Private Securities Litigation Reform Act of 1995. Any statements about and other limitations on our business; and (m) future changes in our our expectations, beliefs, plans, predictions, forecasts, objectives, relationship with Banco Santander which could adversely affect our assumptions, or future events or performance are not historical facts and operations. If one or more of the factors affecting our forward-looking may be forward-looking. These statements are often, but not always, made information and statements proves incorrect, our actual results, through the use of words or phrases such as anticipates, believes, can, performance or achievements could differ materially from those could, may, predicts, potential, should, will, estimates, plans, projects, expressed in, or implied by, forward-looking information and continuing, ongoing, expects, intends, and similar words or phrases. statements. Therefore, we caution the reader not to place undue Although we believe that the expectations reflected in these forward-looking reliance on any forward-looking information or statements. The effect of statements are reasonable, these statements are not guarantees of future these factors is difficult to predict. Factors other than these also could performance and involve risks and uncertainties that are subject to change adversely affect our results, and the reader should not consider these based on various important factors, some of which are beyond our control. factors to be a complete set of all potential risks or uncertainties. Any For additional discussion of these risks, refer to the section entitled Risk forward-looking statements only speak as of the date of this document, Factors and elsewhere in our Annual Report on Form 10-K and our Quarterly and we undertake no obligation to update any forward-looking Reports on Form 10-Q filed by us with the U.S. Securities and Exchange information or statements, whether written or oral, to reflect any Commission (SEC). Among the factors that could cause the forward-looking change, except as required by law. All forward-looking statements statements in this presentation and/or our financial performance to differ attributable to us are expressly qualified by these cautionary materially from that suggested by the forward-looking statements are: statements. 2
Earnings Highlights Continued growth in origination volumes and profit ► Reached a mutually beneficial agreement with FCA and average annual penetration rate of 34% ► Completed acquisition of $1.0 billion auto loan portfolio from Gateway One Lending Milestones ► Several key leadership appointments : CEO, CFO, Head of CCAP & Auto Relationships ► Announced Intent To Commence Tender Offer to Purchase Up to $1 Billion of Shares ► Net income of $994 million in FY 2019 and $146 million in Q4 2019 Results ► Total auto originations of $31.3 billion in 2019, up 9% versus prior year ► Through Santander Bank, originated $7 billion in auto loans in 2019 ► 2019 return on assets of 2.2%, stable versus prior year Profitability ► Expense ratio of 2.1%, stable versus prior year ► $11.9 billion in ABS, including first-ever nonprime revolving ABS platform “SREV” Liquidity/ ► Announced authorization for a $1.1 billion repurchase plan and increased dividend Capital ► CET1 Ratio of 14.8%, down from 15.7% as of December 31, 2018 3
Economic Indicators U.S. Auto Sales 1 Stable auto sales supported by low interest rates, a 16.5 17.5 17.5 17.2 17.2 17.0 15.6 strong economy and consumer, 17 million in sales 14.4 12.8 11.6 for the fifth consecutive year 10.4 Consumer Confidence 2 98.4 Positive consumer confidence levels despite 96.8 96.0 92.9 91.9 recent geopolitical uncertainty 84.1 79.2 76.6 71.8 67.3 66.3 U.S. Unemployment Statistics 3 9.6% 9.3% 8.9% Strong unemployment rate remaining at 50-year 8.1% 7.4% lows 6.2% 5.3% 4.9% 4.4% 3.9% 3.7% U.S. GDP 4 2.6% 2.9% 2.9% 2.3%* 2.5% 2.4% 2.2% 1.8% 1.6% 1.6% Strongest consumer spending in four years offset weak exports and slower pace of inventory investment -2.5% 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 1 JD Power Total SAAR, annualized 4 2 University of Michigan, annual 3 U.S. Bureau of Labor Statistics, annual 4 U.S. Bureau of Economic Analysis, annualized, 2019 is an estimate
Auto Industry Analysis Used Vehicle Indices 1 Manheim 141.1 140.5 Continued strength in used vehicle prices as the 139.9 139.9 137.6 136.0 divergence between new and used pricing increases 124.3 124.0 123.5 121.0 118.0 117.9 JDP SC Recovery Rates 2 Strength in used car market directly reflected 60.3% through recent recovery rate trends 55.9% 55.9% 52.2% 50.0% 47.3% Industry Net Loss Rates 3 10.2% 8.6% 8.4% Industry loss rates down year-over-year 7.1% 6.9% Industry 60+ DQ Rates 3 5.9% 5.4% 5.2% 5.0% Industry delinquencies stabilizing amid recent 4.3% highs last year Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 1 Manheim, Inc.; Indexed to a basis of 100 at 1995 levels; JD Power Used-Vehicle Price Index (not seasonally adjusted), both monthly, quarter end Recovery Rate – Per the financial statements includes insurance proceeds, bankruptcy/deficiency sales, and timing impacts 5 2 Standard & Poor’s Rating Services (ABS Auto Trust Data – two-month lag on data, monthly, end of quarter 3
Diversified Underwriting Across the Credit Spectrum Three Months Ended Twelve Months Ended Variance Dollars in Millions Q4 2018 Q4 2019 FY 2018 FY 2019 QoPYQ (%) FYoFY (%) 9% 7% Total Core Retail Auto $ 2,221 $ 2,427 $ 9,416 $ 10,033 (2%) (2%) Chrysler Capital Loans (<640) 1 1,337 1,313 5,718 5,617 65% 82% Chrysler Capital Loans (≥640) 1 1,176 1,935 3,921 7,146 29% 32% Total Chrysler Capital Retail 2,512 3,248 9,638 12,763 (15%) (12%) Total Leases 2 2,129 1,816 9,752 8,538 9% 9% Total Auto Originations 3 $ 6,861 $ 7,486 $ 28,807 $ 31,316 (6%) (1%) Total Personal Lending 544 513 1,483 1,467 8% 8% Total SC Originations $ 7,406 $ 7,999 $ 30,289 $ 32,783 NA Asset Sales 4 - - 2,906 - N/A 70% 275% SBNA Originations 4 1,116 1,895 1,855 6,960 7% 10% Average managed assets $ 53,804 $ 58,909 $ 51,329 $ 56,601 1 Approximate FICOs 6 2 Includes nominal capital lease originations 3 Includes SBNA Originations Asset Sales and SBNA Originations remain off SC’s balance sheet, servicing rights retained 4
Fiat Chrysler (FCA) Relationship Reached a mutually beneficial agreement with Fiat Chrysler and achieved highest-ever average annual penetration rate of 34% in 2019 FCA Sales 1 Chrysler Penetration Rate 2 35.7% 2.26 33.8% 2.25 2.24 2.20 31.9% 2.07 30.2% 29.4% 2015 2016 2017 2018 2019 4Q18 3Q19 4Q19 FY 2018 FY 2019 1 FCA filings; sales as reported on 01/03/2020 7 2 Auto loans and leases financed by Chrysler Capital
Serviced for Others (SFO) Platform Quarter-over-quarter Serviced for Others Balances, End of Period ($ in Millions) balance increase $10,414 $9,979 $9,282 15% $8,985 $8,744 20% 26% 34% 40% Recent serviced for others balance growth driven by prime originations flowing through the SBNA Originations Program 85% 80% 74% 66% 60% 4Q18 1Q19 2Q19 3Q19 4Q19 Related Party 3rd Party 8
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