Santander Holdings USA, Inc. announced it will redeem all outstanding depositary shares representing its Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series I, on October 15, 2026.

The company will redeem 5,400,000 depositary shares (NYSE: SNUS PF I), each representing a 1/40th interest in one of the 135,000 outstanding shares of Series I Preferred Stock. The redemption price is $25.00 per depositary share.

A regular quarterly dividend that was separately declared will be paid on October 15, 2026, to holders of record as of the close of business on September 30, 2026. That dividend is not included in the redemption price.

The depositary shares are held in book-entry form through the Depository Trust Company. Broadridge Corporate Issuer Solutions, LLC will act as redemption agent and will process payment to the Depository Trust Company.

Santander Holdings USA is a wholly-owned subsidiary of Banco Santander, S.A. (NYSE: SAN), based in Madrid.