BANCO SANTANDER CHILE INTERIM CONSOLIDATED FINANCIAL STATEMENTS For the periods ending on March 31, 2026, and 2025 and December 31, 2025
INTERIM CONSOLIDATED FINANCIAL STATEMENTS INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION 3 INTERIM CONSOLIDATED STATEMENTS OF INCOME 5 INTERIM CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME 7 INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS 8 INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY 11 NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS NOTE 01 - CORPORATE INFORMATION 12 NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 12 NOTE 03 - NEW ACCOUNTING PRONOUNCEMENTS ISSUED AND ADOPTED OR ISSUED AND NOT YET ADOPTED 45 NOTE 04 - ACCOUNTING CHANGES 47 NOTE 05 - SIGNIFICANT EVENTS 48 NOTE 06 - REPORTING SEGMENTS 49 NOTE 07 - CASH AND CASH EQUIVALENTS 53 NOTE 08 - FINANCIAL ASSETS HELD FOR TRADING AT FAIR VALUE THROUGH PROFIT OR LOSS 54 NOTE 09 - FINANCIAL ASSETS NOT FOR TRADING MANDATORILY AT FAIR VALUE THROUGH PROFIT OR LOSS 56 NOTE 10 - FINANCIAL ASSETS AND LIABILITIES DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS 57 NOTE 11 - FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME 58 NOTE 12 - FINANCIAL DERIVATIVE CONTRACTS FOR HEDGE ACCOUNTING PURPOSES 64 NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST 75 NOTE 14 - INVESTMENTS IN ASSOCIATES AND OTHER COMPANIES 100 NOTE 15 - INTANGIBLE ASSETS 102 NOTE 16 - FIXED ASSETS 104 NOTE 17 - RIGHT OF USE ASSETS AND LEASE CONTRACTS OBLIGATIONS 106 NOTE 18 - CURRENT AND DEFERRED TAXES 109 NOTE 19 - OTHER ASSETS 114 NOTE 20 - NON-CURRENT ASSETS AND DISPOSAL GROUPS HELD FOR SALE AND LIABILITIES INCLUDED IN DISPOSAL GROUPS HELD FOR SALE 115 NOTE 21 - FINANCIAL LIABILITIES HELD FOR TRADING AT FAIR VALUE THROUGH PROFIT OR LOSS 116 NOTE 22 - FINANCIAL LIABILITIES AT AMORTISED COST 118 NOTE 23 - REGULATORY CAPITAL FINANCIAL INSTRUMENTS 127 NOTE 24 - PROVISIONS FOR CONTINGENCIES 132 NOTE 25 - PROVISIONS FOR DIVIDENDS, INTEREST PAYMENTS AND REVALUATION OF REGULATORY CAPITAL FINANCIAL INSTRUMENTS ISSUED 133 NOTE 26 - SPECIAL PROVISIONS FOR CREDIT RISK 134 NOTE 27 - OTHER LIABILITIES 136 NOTE 28 - EQUITY 137 NOTE 29 - CONTINGENCIES AND COMMITMENTS 142 NOTE 30 - INTEREST INCOME AND EXPENSES 145 NOTE 31 - READJUSTMENT INCOME AND EXPENSE 147 NOTE 32 - COMMISSION INCOME AND EXPENSES 148 NOTE 33 - NET FINANCIAL INCOME 151 NOTE 34 - INCOME FROM INVESTMENTS IN COMPANIES 153 NOTE 35 - NON-CURRENT ASSETS AND DISPOSAL GROUPS NOT QUALIFYING AS DISCONTINUED OPERATIONS 154 NOTE 36 - OTHER OPERATING INCOME AND EXPENSES 155 NOTE 37 - EXPENSES FROM OBLIGATIONS TO EMPLOYEES 156 NOTE 38 - ADMINISTRATIVE EXPENSE 159 NOTE 39 - DEPRECIATION AND AMORTIZATION 160 NOTE 40 - IMPAIRMENT OF NON-FINANCIAL ASSETS 161 NOTE 41 - CREDIT LOSS EXPENSES 162 NOTE 42 - RESULTS FROM DISCONTINUED OPERATIONS 165 NOTE 43 - TRANSACTION WITH RELATED PARTIES 166 NOTE 44 - FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES 173 NOTE 45 - MATURITY OF FINANCIAL ASSETS AND LIABILITIES ACCORDING TO REMAINING MATURITIES 181 NOTE 46 - FINANCIAL AND NON-FINANCIAL ASSETS AND LIABILITIES BY CURRENCY 183 NOTE 47 - RISK MANAGEMENT AND REPORTING 184 NOTE 48 - INFORMATION ON REGULATORY CAPITAL AND CAPITAL ADEQUACY INDICATORS 214 NOTE 49 - SUBSEQUENT EVENTS 222
As of March 31, As of December 31, 2026 2025 ASSETS Note Ch$mn Ch$mn Cash and deposits in banks 7 1,876,944 1,975,644 Cash in collection process 7 1,928,332 1,185,633 Financial assets held for trading at fair value through profit or loss 8 11,465,830 11,594,405 Financial derivatives contracts 8 10,917,693 10,879,777 Debt financial instruments 8 548,137 714,628 Other 8 - - Non-trading financial assets mandatory measured at fair value 9 - - Financial assets designated at fair value through profit or loss 10 - - Financial assets at fair value through other comprehensive income 11 3,873,077 3,889,952 Debt financial instruments 11 3,502,444 3,598,366 Other 11 370,633 291,586 Financial derivative contracts for hedge accounting 12 293,770 261,192 Financial assets at amortized cost 13 46,149,124 45,544,899 Rights under repurchase and securities lending agreements 13 1,055,754 427,983 Debt financial instruments 13 5,582,923 5,525,242 Interbank loans 13 52,440 68,071 Loans and receivables from clients - Commercial 13 16,621,615 16,647,200 Loans and receivables from clients - Mortgage 13 17,166,363 17,258,525 Loans and receivables from clients - Consumer 13 5,670,029 5,617,878 Investment in companies 14 68,312 67,040 Intangible assets 15 83,116 91,475 Fixed assets 16 168,808 178,955 Assets with leasing rights 17 98,397 93,482 Current taxes 18 107 113 Deferred taxes 18 457,454 486,523 Other assets 19 3,351,318 2,644,044 Non-current assets and disposal groups for sale 20 82,314 81,599 TOTAL ASSETS 69,896,903 68,094,956 The accompanying notes form an integral part of the Interim Consolidated Financial Statements. Banco Santander-Chile and Affiliates INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION As of March 31, 2026 and December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 3
As of March 31, As of December 31, 2026 2025 LIABILITIES Note Ch$mn Ch$mn Cash in collection process 7 1,812,210 1,068,216 Financial liabilities held for trading at fair value through profit or loss 21 10,576,279 10,587,308 Financial derivatives contracts 21 10,576,279 10,587,308 Other 21 - - Financial liabilities designated at fair value through profit or loss 10 - - Financial derivative contracts for hedge accounting 12 848,009 912,716 Financial liabilities at amortized cost 22 45,042,921 44,682,274 Deposits and other demand liabilities 22 13,746,375 14,075,590 Time deposits and other term equivalents 22 17,247,578 16,493,783 Obligations under repurchase and securities lending agreements 22 2,784,325 2,755,243 Interbank borrowing 22 3,421,243 3,434,237 Debt financial instruments issued 22 7,624,919 7,699,100 Other financial liabilities 22 218,481 224,321 Obligations under leasing contracts 17 49,967 40,649 Financial instruments of regulatory capital issued 23 2,600,641 2,577,961 Provisions for contingencies 24 112,769 168,594 Provisions for dividends, payments of interest and reappreciation of financial instruments of issued regulatory capital 25 808,771 637,190 Special provisions for credit risk 26 227,090 247,533 Current taxes 18 61,017 83,084 Deferred taxes 18 2,444 1,785 Other liabilities 27 2,860,965 2,248,006 Liabilities included in disposal groups for sale 20 - - TOTAL LIABILITIES 65,003,083 63,255,316 EQUITY Capital 28 891,303 891,303 Reserves 28 3,485,907 3,459,800 Other accrued comprehensive income 28 (179,259) (71,181) Items that will not be reclassified to profit or loss 1,786 1,716 Items that may be reclassified to profit or loss (181,045) (72,897) Retained earnings (expense) from prior years 1,076,966 23,757 Profit for the period 28 273,189 1,053,209 Minus: provisions for dividends, interest payments and reappreciation of issued financial instruments of regulatory capital 28 (808,771) (637,190) Equity holders of the Bank 4,739,335 4,719,698 Non-controlling interest 154,485 119,942 TOTAL EQUITY 4,893,820 4,839,640 TOTAL LIABILITIES AND EQUITY 69,896,903 68,094,956 The accompanying notes form an integral part of the Interim Consolidated Financial Statements. Banco Santander-Chile and Affiliates INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION As of March 31, 2026 and December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 4
As of March 31, 2026 2025 Note Ch$mn Ch$mn Interest income 30 832,304 838,017 Interest expense 30 (374,794) (414,177) Net interest income 30 457,510 423,840 Readjustment income 31 42,272 131,883 Readjustment expenses 31 (10,255) (42,089) Net readjustment income 31 32,017 89,794 Commission income 32 270,336 264,070 Commission expense 32 (115,404) (115,819) Net commission income 32 154,932 148,251 Financial result per: Assets and liabilities for trading 33 131,356 (29,825) Non-trading financial assets mandatory measured at fair value through profit or loss 33 - - Financial assets and liabilities designated at fair value through profit or loss 33 - - Gain or loss on recognition of financial assets and liabilities at amortized cost and financial assets at fair value through other comprehensive income 33 9,039 (4,043) Exchange, readjustments and hedge accounting of foreign currencies 33 (55,137) 105,084 Reclassifying of financial assets due to changes in business model 33 - - Other financial results 33 - - Net financial result 33 85,258 71,216 Results from investments in companies 34 1,225 1,213 Results of non-current assets and disposal groups not qualifying as discontinued operations 35 (2,804) (5,782) Other operating income 36 5,288 754 TOTAL OPERATING INCOME 733,426 729,286 Expenses from obligations to employees 37 (98,849) (94,063) Administrative expenses 38 (91,639) (110,722) Depreciation and amortization 39 (34,516) (35,176) Impairment of non-financial assets 40 (134) (164) Other operational expenses 36 (13,125) (15,126) TOTAL OPERATIONAL COST (238,263) (255,251) OPERATING INCOME BEFORE CREDIT LOSS 495,163 474,035 The accompanying notes form an integral part of the Interim Consolidated Financial Statements. Banco Santander-Chile and Affiliates INTERIM CONSOLIDATED STATEMENTS OF INCOME For the periods ending March 31, 2026 and 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 5
As of March 31, 2026 2025 Note Ch$mn Ch$mn Credit loss expenses due to: Provisions for credit risk due from banks and loans and receivables from clients 41 (230,488) (263,127) Special provisions for credit risk 41 21,062 77,042 Recovery of impaired loans 41 51,019 46,858 Impairment of the credit risk of other financial assets at amortized cost and financial assets at fair value in other comprehensive income 41 (370) (274) Credit loss expenses 41 (158,777) (139,501) OPERATIONAL RESULT 336,386 334,534 Results from continuing operations before taxes 336,386 334,534 Income tax 18 (55,909) (52,797) Results from continuing operations after taxes 280,477 281,737 Results from discontinued operations before taxes 18 - - Discontinued operations tax - - Results from discontinued operations after taxes - - CONSOLIDATED PROFIT FOR THE PERIOD 28 280,477 281,737 Attributable to: Equity holders of the Bank 28 273,189 277,797 Non-controlling interest 28 7,288 3,940 Earnings per share attributable to equity holders of the Bank: Basic earnings 28 1.45 1.47 Diluted earnings 28 1.45 1.47 The accompanying notes form an integral part of the Interim Consolidated Financial Statements. Banco Santander-Chile and Affiliates INTERIM CONSOLIDATED STATEMENTS OF INCOME For the periods ending March 31, 2026 and 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 6
As of March 31, 31-12-2021 2026 2025 Note Ch$mn Ch$mn CONSOLIDATED PROFIT FOR THE PERIOD 280,477 281,737 Other comprehensive results for the period: ITEMS THAT WILL NOT BE RECLASSIFIED TO PROFIT OR LOSS New measurements of the net benefit liability (asset) and actuarial results for other employee benefit plans - - Changes in the fair value of equity instruments designated at fair value through other comprehensive income 192 223 Changes in the fair value of financial liabilities designated at fair value through profit or loss attributable to changes in the credit risk of the financial liability - - OTHER COMPREHENSIVE INCOME THAT WILL NOT BE RECLASSIFIED TO PROFIT OR LOSS BEFORE TAXES 28 192 223 Income tax on other comprehensive results that will not be reclassified to profit or loss 18 (52) (60) TOTAL OTHER COMPREHENSIVE INCOME THAT WILL NOT BE RECLASSIFIED TO PROFIT OR LOSS AFTER TAXES 28 140 163 ITEMS THAT CAN BE RECLASSIFIED TO PROFIT OR LOSS 28 Changes in the fair value of financial assets at fair value through other comprehensive income 28 (3,190) 2,959 Translation differences by foreign entities 28 - - Hedge accounting of net investments in foreign entities 28 - - Cash flow hedge accounting 28 (144,684) 1,643 Undesignated elements of hedge accounting instruments 28 - - Other 28 (352) 1,011 OTHER COMPREHENSIVE INCOME THAT MAY BE RECLASSIFIED TO PROFIT OR LOSS BEFORE TAXES 28 (148,226) 5,613 Income taxes on other comprehensive income that may be reclassified to profit or loss 18 40,020 (1,517) TOTAL OTHER COMPREHENSIVE INCOME THAT MAY BE RECLASSIFIED TO PROFIT OR LOSS AFTER TAXES 28 (108,206) 4,096 TOTAL OTHER COMPREHENSIVE INCOME FOR THE PERIOD 28 (108,066) 4,259 CONSOLIDATED COMPREHENSIVE INCOME FOR THE PERIOD 28 172,411 285,996 Attributable to: Equity holders of the Bank 165,111 281,960 Non-controlling interest 7,300 4,036 The accompanying notes form an integral part of the Interim Consolidated Financial Statements. Banco Santander-Chile and Affiliates INTERIM CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME For the periods ending March 31, 2026 and 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 7
March 31, 2026 2025 Note Ch$mn Ch$mn CASH FLOWS FROM OPERATING ACTIVITIES: CONSOLIDATED PRE-TAX INCOME FOR THE PERIOD 336,386 334,534 Non-cash charges (credits) to profit or loss (366,207) (459,225) Depreciation and amortization 39 34,516 35,176 Impairment of non-financial assets 40 134 164 Provisions for credit risk 41 209,796 186,359 Fair value adjustments transferred to profit or loss 182 (4,432) Results from investments in companies 34 (1,225) (1,213) Results from the sale of goods received in payment or awarded in a judicial auction 35 (1,009) (1,393) Provisions for assets received in payment 35 (48) (442) Profit/loss on sale of shareholding in other companies 34 - - Profit on sale of fixed assets 35 (878) - Write-off of assets received in lieu of payment 35 10,218 11,323 Interest and adjustment net income 30-31 (489,527) (513,634) Net commission income 32 (154,932) (148,251) Other non-cash charges (credits) to profit or loss (29,343) (75,679) Income tax 55,909 52,797 Increase/decrease in operating assets and liabilities 127,117 117,610 Decrease (increase) in loans and receivables from clients 19,071 231,906 Decrease (increase) in financial investments 204,732 (691,837) Decrease (increase) in repurchase agreements (assets) (627,771) (85,428) Decrease (increase) in interbank loans 15,630 (6,669) Decrease (increase) in assets received or awarded in payment 2,251 2,748 Increase (decrease) in creditors in current accounts (255,894) (673,245) Increase (decrease) in deposits and time deposits 753,796 207,358 Increase (decrease) in liabilities to domestic banks (8,890) 189,720 Increase (decrease) in other deposits and sight accounts (72,418) (25,288) Increase (decrease) in liabilities to foreign banks (4,105) (396,624) Increase (decrease) in obligations to the Central Bank of Chile - - Increase (decrease) in repurchase contracts (liabilities) 29,081 936,181 Increase (decrease) in other financial obligations (5,840) 3,589 Net increase in other assets and liabilities (277,918) 315,676 Interest and readjustments received 967,749 1,063,536 Interest and readjustments paid (694,785) (898,105) Dividends received from investments in companies - - Fees and commissions received 197,832 59,911 Fees and commissions paid (115,404) (115,819) Total cash flow provided by (used in) operating activities 97,296 (7,081) The accompanying notes form an integral part of the Interim Consolidated Financial Statements. Banco Santander-Chile and Affiliates INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS For the periods ending March 31, 2026 and 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 8
March 31, 2026 2025 Note Ch$mn Ch$mn CASH FLOWS FROM INVESTMENT ACTIVITIES Purchases of fixed assets 16 (2,551) (18,727) Sales of fixed assets 1,170 422 Purchase of intangible assets 15 (2,978) (4,682) Acquisitions of investments in companies - - Total cash flow provided by (used in) investment activities (4,359) (22,987) CASH FLOW FROM FINANCING ACTIVITIES Attributable to shareholders' interest (85,908) (576,862) Placement of Subordinated bond - - Redemption of subordinated bonds and interest payments (13,277) (9,731) Dividends paid - - Redemption and payment of interest/principal on letters of credit (51) (1,149) Placement of current bonds 639,947 821,792 Redemption and payment of interest/principal on mortgage bonds (4,776) (4,215) Redemption and payment of interest/principal on current bond capital (699,950) (1,375,577) Placement of perpetual bonds - - Redemption and payment of interest/principal on perpetual bonds - - Payment of interest/principal on capital lease obligations (7,801) (7,982) Attributable to non-controlling interest - - Payment of dividends and/or withdrawals of capital paid respectively to the subsidiaries corresponding to the non-controlling interest - - Total cash flows used in financing activities (85,908) (576,862) D - NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS DURING THE PERIOD 7,029 (606,930) E - EFFECTS OF FOREIGN EXCHANGE RATE FLUCTUATIONS 10,393 4,629 F - INITIAL BALANCE OF CASH AND CASH EQUIVALENTS 1,975,644 2,774,002 FINAL BALANCE OF CASH AND CASH EQUIVALENTS 1,993,066 2,171,701 The accompanying notes form an integral part of the Interim Consolidated Financial Statements. Reconciliation of provisions for the Consolidated Statement of Cash Flows for the periods ending on March 31, 2026 2025 Note Ch$mn Ch$mn Provisions for credit risk 209,796 186,359 Recovery of impaired loans (51,019) (46,858) Net provisions for loan losses 41 158,777 139,501 Banco Santander-Chile and Affiliates INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS For the periods ending March 31, 2026 and 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 9
Changes other than cash Reconciliation of liabilities arising from financing activities 12.31.2025 Cash Flow Fair Value Changes Foreign Currency Movement UF Inflation effect Others 03.31.2026 Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Subordinated Bonds 1,948,493 (13,277) - 11,949 4,782 - 1,951,947 Senior bonds 7,643,750 (60,003) - 126,143 (135,734) - 7,574,156 Mortgage bonds 55,295 (4,776) - - 240 - 50,759 Bonds without fixed maturity 629,468 - - 19,226 - - 648,694 Letters of credit 55 (51) - - - - 4 Dividends paid - - - - - - - Obligations under leasing contracts 40,649 (7,801) - - 17,119 - 49,967 Total liabilities from financing activities 10,317,710 (85,908) - 157,318 (113,593) - 10,275,527 Banco Santander-Chile and Affiliates INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS For the periods ending March 31, 2026 and 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 10
Equity attributable to shareholders Non- controlling interest (*) Total Equity Capital Reserves Other accrued comprehensive income Accrued profits and profits corresponding to the period TOTALReserves and other retained earnings Merger of companies under common control Changes in fair value of financial assets at fair value through OCI Cash flow hedge Income tax Retained profits from previous periods Annual Profits (**) Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Opening balances as of January 1, 2025 891,303 3,234,729 (2,224) (69,012) (77,801) 39,639 881,947 (606,141) 4,292,440 104,394 4,396,834 Payment of common stock dividends - - - - - - (600,336) - (600,336) - (600,336) Transfer of retained earnings to reserves - 227,295 - - - - (227,295) - - - - Provision for payment of common stock dividends - - - - - - - (31,595) (31,595) - (31,595) Provision and interest payments on bonds with no fixed term to maturity - - - - - - (30,559) 546 (30,013) - (30,013) Other movements - - - - - - - - - (1,267) (1,267) Subtotal: Transactions with shareholders during the period - 227,295 - - - - (858,190) (31,049) (661,944) (1,267) (663,211) Profit for the year (period) - - - - - - - 1,053,209 1,053,209 16,403 1,069,612 Other comprehensive income for the year - - - (11,308) 60,613 (13,312) - - 35,993 412 36,405 Subtotal: Comprehensive income for the year - - - (11,308) 60,613 (13,312) - 1,053,209 1,089,202 16,815 1,106,017 Closing balance on December 31, 2025 891,303 3,462,024 (2,224) (80,320) (17,188) 26,327 23,757 416,019 4,719,698 119,942 4,839,640 Distribution of results from previous year 1,053,209 (1,053,209) Opening balances as of January 1, 2026 891,303 3,462,024 (2,224) (80,320) (17,188) 26,327 1,076,966 (637,190) 4,719,698 119,942 4,839,640 Payment of common stock dividends - - - - - - - - - - Transfer of retained earnings to reserves - - - - - - - - - - Provision for payment of common stock dividends - - - - - - - (163,914) (163,914) - (163,914) Provision and interest payments on bonds with no fixed term to maturity - - - - - - (7,667) (7,667) - (7,667) Other movements - 26,107 - - - - - - 26,107 27,243 53,350 Subtotal: Transactions with shareholders during the period - 26,107 - - - - - (171,581) (145,474) 27,243 (118,231) Profit for the year (period) - - - - - - - 273,189 273,189 7,288 280,477 Other comprehensive results for the period - - - (3,367) (144,684) 39,973 - - (108,078) 12 (108,066) Subtotal: Comprehensive income for the period - - - (3,367) (144,684) 39,973 - 273,189 165,111 7,300 172,411 Closing balance as of March 31, 2026 891,303 3,488,131 (2,224) (83,687) (161,872) 66,300 1,076,966 (535,582) 4,739,335 154,485 4,893,820 (*) See Note 02 letter c for non-controlling interest, (**) Contains profit for the period and provisions for dividends, interest payments and re-appreciation of issued financial instruments of regulatory capital. Period Profit attributable to equity holders Allocated to reserves Allocated to dividends Percentage distribution Number of shares Dividend per share (In Ch$) Ch$mn Ch$mn Ch$mn % Year 2024 (Shareholders Meeting April 2025) 857,623 227,295 600,336 70% 188,446,126,794 3.186 Year 2023 (Shareholders Meeting April 2024) 496,404 117,266 347,483 70% 188,446,126,794 1.844 The accompanying notes form an integral part of these Interim Consolidated Financial Statements. Banco Santander-Chile and Affiliates INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY For the periods ending on March 31, 2026 and December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 11
NOTE 01 - CORPORATE INFORMATION Banco Santander-Chile is a banking corporation organized under the laws of the Republic of Chile, supervised by the Financial Market Commission (FMC). It is also subject to the regulations of the Securities and Exchange Commission of the United States of America (SEC), considering the Bank is listed on the New York Stock Exchange (NYSE) through an American Depositary Receipt (ADR) program. Banco Santander Spain controls Banco Santander Chile through its shareholdings in Teatinos Siglo XXI Inversiones S.A. and Santander Chile Holding S.A., both subsidiaries controlled by Banco Santander Spain. As of March 31, 2026, Banco Santander Spain directly or indirectly owns 99.8% of Santander Chile Holding S.A. and 100% of Teatinos Siglo XXI Inversiones S.A., which allows Banco Santander Spain control over 67.18% of the Bank's shares. The Bank provides its clients with a wide range of general banking services, from individuals to large corporations. In addition, Banco Santander-Chile and its affiliates (collectively referred to as 'Bank' or 'Santander-Chile' hereafter) offer consumer and commercial banking services, as well as other services, including factoring, collections, leasing, securities and insurance brokerage, brokerage of mutual and investment fund and investment banking. The Bank's legal address is Calle Bandera No 140 Santiago de Chile, and its website is www.santander.cl. NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 1. Preparation basis These Interim Consolidated Financial Statements have been prepared following the Compendium of Accounting Standards for Banks (CASB), in its version applicable as of January 2022, as well as the instructions issued by the FMC. The FMC, under Law No 21,000, provides in numeral 6 of article 5 that the Financial Market Commission may set the rules for the preparation and presentation of the annual reports, balance sheets, statements of financial position and other financial statements of the supervised entities and determines the principles according to which companies must keep their accounts. Regarding all matters that are not covered by this regulation, if they do not conflict with its instructions, then they must adhere to generally accepted accounting criteria corresponding to the technical standards issued by the Chilean Association of Accountants AG, which coincide with the International Financial Reporting Standards (IFRS) agreed by the International Accounting Standards Board (IASB). In case of discrepancies between the accounting principles and the accounting criteria issued by the FMC in its Compendium of Accounting Standards for Banks and instructions, the latter shall prevail. The Bank uses certain currency terms and conventions for these Interim Consolidated Financial Statements. Thus, 'USD' stands for 'US dollar', 'EUR' stands for 'euro', 'CNY' stands for 'Chinese yuan', 'JPY' stands for 'Japanese yen', 'CHF' stands for 'Swiss franc', 'AUD' stands for 'Australian dollar' and 'UF' stands for 'Unidad de Fomento de Chile'. The notes in the Interim Consolidated Financial Statements contain information in addition to that presented in the Interim Consolidated Statements of Financial Position, Interim Consolidated Statements of Income, Interim Consolidated Statements of Other Comprehensive Income,Interim Consolidated Statement of Change in Equity and Interim Consolidated Statement of Cash Flows. They provide narrative descriptions or disaggregation of such states in a clear, relevant, reliable and comparable manner. 2. Preparation of the Interim Consolidated Financial Statements The Interim Consolidated Financial Statements as of March 31, 2026, and 2025, and December 31, 2025 incorporate the individual financial statements of the Bank and its controlled entities (affiliates) and include the adjustments, reclassifying and eliminations necessary to comply with the accounting and measurement criteria established by IFRS 10 'Consolidated Financial Statements'. Control is achieved when the Bank: i. Has power over the investee (that is, it has rights that grant it the present capacity to manage the relevant activities of the investee); ii. Has exposure or rights to variable returns from its involvement with the investee; and iii. Has the ability to use its power over the investee to influence the amount of the investor's returns. The Bank reassesses whether it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above. For example, when the Bank has less than most of the voting rights in an investee, but those voting rights are sufficient to have the ability to direct the relevant activities, then it is concluded that the Bank has control. The Bank considers all relevant facts and circumstances in assessing whether the Bank's voting rights in an investee are sufficient to give it power. These include: Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 12
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued • The size of the Bank's holding of voting rights relative to the size and dispersion of holdings of the other vote holders. • The potential voting rights held by the Bank, other vote holders or other parties. • The rights arising from other contractual agreements. • Any additional facts and circumstances that indicate that the Bank has or does not have the current ability to direct the relevant activities when decisions need to be made, including voting patterns at previous shareholders' meetings. Consolidation of a subsidiary begins when the Bank obtains control of the subsidiary and ceases when the Bank cedes control. Specifically, the income and expenses of a subsidiary acquired or disposed of during the period are included in the Interim Consolidated Statements of Income and Interim Consolidated Statements of Other Comprehensive Income from the date the Bank gains control until the date the Bank ceases to control the subsidiary. Profit or loss alongside each component of the Interim Consolidated Statements of Other Comprehensive Income is attributed to the Bank's holders and non-controlling interest. The total comprehensive income of subsidiaries is attributed to the owners of the Bank and the non-controlling interests, even if this results in the non-controlling interests having a deficit in certain circumstances. When necessary, adjustments are made to the financial statements of the subsidiaries to ensure their accounting standards are consistent with the Bank's accounting standards. All balances and transactions between consolidated entities are eliminated. Changes in the consolidated entities' participation that do not result in the loss of control are accounted for as equity transactions. Accordingly, the book value of the Bank’s equity holders and the non-controlling interests are adjusted to reflect the changes in participation over subsidiaries. Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration being paid or received is recognized directly in equity and attributed to the equity owners of the Bank. The non-controlling interest represents the participation of third parties in the Bank's consolidated equity, which is presented in the Interim Consolidated Statement of Change in Equity. Their share of the result for the year is shown as 'Profit attributable to non- controlling interest' in the Interim Consolidated Statements of Income. The following table shows the composition of the entities over which the Bank can exercise control and, therefore, form part of the consolidation perimeter: i. Entities controlled by the Bank through participation in equity Place of % of ownership Main Activity Incorporation As of March 31, 2026 As of December 31, 2025 and operation Direct Indirect Total Direct Indirect Total Santander Corredora de Seguros Limitada Insurance brokerage Santiago, Chile 99.75 0.01 99.76 99.75 0.01 99.76 Santander Corredores de Bolsa Limitada Brokerage of financial instruments Santiago, Chile 50.59 0.41 51.00 50.59 0.41 51.00 Santander Asesorias Financieras Limitada Securities brokerage Santiago, Chile 99.03 - 99.03 99.03 - 99.03 Santander S.A. Sociedad Securitizadora Acquisition of loans and issuance of debt securities Santiago, Chile 99.64 - 99.64 99.64 - 99.64 Santander Consumer Finance Limitada Automotive financing Santiago, Chile 51.00 - 51.00 51.00 - 51.00 Sociedad operadora de Tarjetas de Pago Santander Getnet Chile S.A. Administration of the infrastructure for the financial market of derivative instruments Santiago, Chile 50.01 - 50.01 99.99 0.01 100.00 Details of non-controlling interests are shown in Note 28 Equity letter g) non-controlling interest (minority interests). ii. Entities controlled by the Bank through other considerations and Associates The following companies have been consolidated based on the fact that the Bank determines their relevant activities (these are companies complementary to the banking sector) and, therefore, over which the Bank exercises control: • Santander Gestión de Recaudación y Cobranza Limitada: its exclusive activity is administering and collecting loans. • Multiplica SpA: its primary purpose is the development of incentive programs that encourage the use of payment cards. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 13
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued iii. Investment in Associates An associate is an entity over which the Bank can exercise significant influence but not control or joint control. This capacity is usually manifested in a 20% or more interest in the entity's voting rights and is accounted for using the equity method in accordance with IAS 28 ‘Investments in Associates and Joint Ventures’. The following entities in which the Bank has an interest and are recognized using the equity method are considered 'associates': Place of incorporation and operation % of ownership As of March 31, As of December 31, Name of associated entity Main Activity 2026 2025 Redbanc S.A. ATM service Santiago, Chile 33.43 33.43 Transbank S.A. Debit and credit card service Santiago, Chile 25.00 25.00 Centro de Compensación Automatizado S.A. Electronic funds transfer and compensation services Santiago, Chile 33.33 33.33 Sociedad Interbancaria de Depósito de Valores S.A. Repository of publicly offered securities Santiago, Chile 29.29 29.29 Cámara Compensación de Alto Valor S.A. Payment clearing Santiago, Chile 13.72 13.72 Administrador Financiero del Transantiago S.A. Administration of smart cards for public transportation Santiago, Chile 20.00 20.00 Servicios de Infraestructura de Mercado OTC S.A. Administration of the infrastructure for the financial market of derivative instruments Santiago, Chile 12.48 12.48 In the case of Cámara Compensación de Alto Valor S.A. and Servicios de Infraestructura de Mercado OTC S.A., Banco Santander-Chile has a representative on the Board of Directors, which is why the Administration has concluded that it exercises significant influence. iv. Share or rights in other companies Entities over which the Bank has no control or significant influence are presented in this category. These equity instruments must be measured at fair value in compliance with IFRS 9 ‘Financial Instruments’. Nevertheless, the Bank may consider the cost an appropriate fair value estimate in concrete circumstances. This may be the case if the most recently available information is insufficient to measure the fair value or if a wide range of possible fair value measurements and the cost involved represents the best estimate of fair value within that range. Additionally, the Bank may make an irrevocable decision to present subsequent changes to the fair value in other comprehensive income during its initial recognition. Subsequent changes in this valuation shall be recognized in 'Accumulated other comprehensive income - Items that will not be reclassified to profit or loss'. Dividends received from these investments are recorded in the Interim Consolidated Statements of Income under 'Result from investments in companies'. These instruments are not subject to the IFRS 9 ‘Financial Instruments’ impairment model. 3. Non-controlling interest Non-controlling interest represents the portion of net income and net assets the Bank does not own, either directly or indirectly. It is presented separately in the Interim Consolidated Statements of Income and separately from the equity in the Interim Consolidated Statements of Financial Position . In the case of entities controlled by the Bank through other considerations, profits and equity are presented as a non-controlling interest. This is because the Bank controls them, but has no percentage ownership in them. 4. Reporting segments The Bank's operating segments are those units whose operating results are reviewed regularly by the highest level of management regarding decision-making. Accordingly, two or more operating segments can be added into one only when the aggregation is consistent with the basic principle under the IFRS 8 'Operating Segments' and if the segments have similar economic characteristics and are alike in each one of the following aspects: Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 14
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued i. The nature of the products and services. ii. The nature of production processes. iii. The type of customer category for which its products and services are intended. iv. The methods used to distribute their products or provide services. v. If applicable, the nature of the regulatory framework, e.g., banking, insurance, utilities. The Bank reports separately for each operating segment that meets any of the following quantitative thresholds: i. Its reported revenues from ordinary activities, including both sales to external clients and inter-segment sales or transactions, equal or exceed 10% of the combined revenues from all operating segments' ordinary internal and external activities. ii. The amount of its reported results is, in absolute terms, equal to or greater than 10% of the greater of (i) the combined profit reported by all operating segments that have not reported a loss; and (ii) the combined loss reported by all operating segments that have reported a loss. iii. Its assets equal or exceed 10% of the combined assets of all operating segments. Operating segments that do not meet any of the quantitative thresholds may be considered reportable segments. The information must be disclosed separately if management believes it would be helpful to Interim Consolidated Financial Statements users. Concerning the above, the Bank's segments were obtained under the consideration that an operating segment is a component of an entity that: i. Engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses from transactions with other elements of the same entity). ii. Whose operating results are regularly reviewed by the entity's chief executive officer, who makes decisions about resources allocated to the segment and assesses its performance. iii. For which separate financial information is available 5. Functional and presentation currency The Bank, in according to IAS 21 'The Effects of Changes in Foreign Exchange Rates', has defined the Chilean Peso as its functional and presentation currency, as this is the currency of the primary economic environment in which the Bank operates, as well as the currency that influences the cost and revenue structure. Therefore, all balances and transactions denominated in currencies other than the Chilean Peso are considered 'foreign currency'. 6. Transaction in foreign currencies The Bank conducts transactions in amounts denominated in foreign currencies, mainly US dollars. The assets and liabilities denominated in foreign currencies held by the Bank and its affiliates are translated into Chilean Pesos at the market exchange rate corresponding to the end of the reported month (spot rate), which amounts to $927.75 per US$1 for March 2026 and $954.12 per US$1 for March 2025 ( $900.69 per US$1for December 31, 2025) . For all other currencies, an external pricing provider is used. The net foreign exchange gain and loss includes recognizing the effects of exchange rate changes on assets and liabilities denominated in foreign currencies and the profit and loss on foreign exchange spot and forward transactions undertaken by the Bank. 7. Cash and cash equivalents The indirect method is used to prepare the Interim Consolidated Statement of Cash Flows, starting with the Bank's consolidated pre- tax income, and then incorporating non-cash transactions, cash-flow-related income, and expense of activities classified as investments or financing. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 15
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued The following items are taken into consideration in the preparation of the Interim Consolidated Statement of Cash Flows: i. Cash flows: inflows and outflows of cash and cash equivalents, defined as balances in items such as deposits with the Central Bank of Chile, deposits in domestic banks and deposits abroad. ii. Operating activities: these are the normal activities carried out by banks alongside other activities that cannot be classified as investments or financing. iii. Investing activities: these correspond to the acquisition, sale or disposal by other means of long-term assets and other investments not included in cash and cash equivalents. iv. Financing activities: those that result in changes to the size and composition of equity and liabilities that are not part of operating or investing activities. 8. Definitions, classification and measurement of financial assets/liabilities i. Definitions A 'financial instrument' is any contract that gives rise to a financial asset in an entity and a financial liability or equity instrument in another entity. A 'financial asset' is any asset that is: (a) cash; (b) an equity instrument of another entity; (c) a contractual right to receive cash or another financial asset from another entity or to exchange financial assets or financial liabilities with another entity under conditions that are potentially favorable to the entity; or (d) a contract that will or may be settled using the entity's own equity instruments. A 'financial liability' is any liability that is: (a) a contractual obligation to deliver cash or another financial asset to another entity or to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavorable to the entity; or (b) a contract that will or may be settled using the entity's equity instruments. An 'equity instrument' is any contract that evidences a residual interest in the assets of the issuing entity after deducting all of its liabilities. A 'financial derivative' is a financial instrument whose value fluctuates in response to changes concerning an observed market variable (such as an interest rate, a foreign exchange rate, a financial instrument's price, or a market index, including credit ratings), whose initial investment is minimal compared with other financial instruments with a similar response to changes in market factors, and which is generally settled at a future date. 'Fair value' is the price that would be received to sell an asset or paid to transfer a liability in a transaction between market participants at the measurement date. ii. Initial recognition The Bank shall recognize a financial asset or financial liability only when it becomes part of the contractual terms of the instrument (rights and obligations). A conventional purchase or sale of financial assets shall be recognized using the accounting contract date or settlement date. iii. Classification of financial assets/liabilities Classification of financial assets Financial assets shall be classified into measurement categories based on the entity's business models for managing the financial assets and the contractual cash flow characteristics of said assets. The business model refers to how the Bank manages its financial assets to generate cash flows. In other words, the entity's business model determines whether the cash flows will come by obtaining contractual cash flows, selling financial assets, or both. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 16
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued Assessing the contractual flow characteristics (SPPI test) requires determining whether the asset's contractual flows are solely payments of principal on specified dates and interest on the principal outstanding amounts in the currency in which the financial asset is denominated. The principal is the fair value of the financial asset at initial recognition. Nevertheless, the principal amount may change over the life of the financial asset (if there are principal repayments). Interest is the compensation received for the time value of money and the credit risk related to the principal amount owed over a specified period, alongside other risks and administrative costs, and a profit margin. For the assessment, the Bank conducts a test evaluating whether the contractual flows meet the criteria for a core lending arrangement. The Bank uses its professional assessment and considers relevant factors such as currency, interest rate (fixed or variable) and the period it sets. The assessment of business models is not an instrument-by-instrument ranking approach but at a higher level of aggregation and considers all relevant evidence: model performance, risks affecting performance, and how managers are rewarded, among others. According to the above, the objectives of the business models are: • To hold assets to collect cash flows – through management that produces cash flows by collecting contractual payments throughout the instrument's life. Models with this goal allow for sales if they are infrequent (even if significant in value) or insignificant in value both individually and in aggregate (even if frequent), and even more so if they result from a substantial increment in risk or the risk management of credit concentration. • To maintain financial assets for collection and sale. Per this objective, the entity's key management personnel have decided that the supply of contractual cash flows and the sale of financial assets are essential to achieve the business model's goal. Therefore, there is a higher frequency and value of sales for this purpose. • Other models - financial assets are measured at fair value through profit or loss if they are not held within a business model whose objective is to hold the assets to collect contractual cash flows or if their objective is achieved by obtaining contractual cash flows and selling financial assets. Assets are managed on a sales basis, and decisions are made on a fair value basis. In accordance with the above, the Bank will classify its financial assets based on whether they are subsequently measured at amortized cost, at fair value through other comprehensive income, or at fair value through profit or loss. Additionally, an irrevocable election may be made at the time of initial recognition of investments in equity instruments to present subsequent changes in fair value in other comprehensive income. Classification of financial liabilities An entity shall classify all financial liabilities as subsequently measured at amortized cost, except for derivative liabilities which shall be measured at fair value through profit or loss. Reclassifications Reclassifying financial assets only occurs only when the business model for managing financial assets has changed. These changes are determined by top management due to external or internal changes. Financial liabilities are not reclassified. iv. Measurement of financial assets/liabilities Initial measurement Financial assets and liabilities are initially measured at fair value (transaction price), plus or minus transaction costs in the case of a financial asset or financial liability that is not carried at fair value through profit or loss. Subsequent measurement of financial assets A financial asset shall subsequently be measured according to the following: Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 17
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued 1. Amortized cost A financial asset is measured at amortized cost if the financial asset is held within a business model whose objective is to hold financial assets to earn cash flows, and the contractual terms of the financial asset give rise, at specified dates, to cash flows that are solely payments of principal and interest on the outstanding principal amount. Interest income shall be calculated using the effective interest method. This method applies to financial assets and liabilities measured at amortized cost (interest income and interest expense). The effective interest rate is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial asset or financial liability to the gross carrying amount of the financial asset or the amortized cost of a financial liability. 2. Fair value through other comprehensive income A financial asset is measured at fair value through other comprehensive income if the financial asset is held within a business model in which the objective are to obtain the contractual cash flows, to sell financial assets, and if the contractual terms of the financial asset give rise, at specified dates, to receive cash flows that are solely payments of principal and interest on the outstanding principal amount. 3. Fair value through profit or loss A financial asset is measured at fair value through profit or loss unless measured at amortized cost or fair value through other comprehensive income. 4. Irrevocable election to measure at fair value with changes in other comprehensive income Upon the initial recognition of Investments in equity instruments, a determination may be held to present subsequent changes in fair value in other comprehensive income that would otherwise be measured at fair value through profit or loss when not held for trading, except for dividend income, which is recognized in profit or loss for the period. Gains or losses arising from the derecognition of these equity instruments are not transferred to profit or loss. Subsequent measurement of financial liabilities Financial liabilities are subsequently measured at amortized cost, except for derivatives measured at fair value through profit or loss. v. Derecognition of financial assets/liabilities A financial asset shall be derecognized when and only when: 1. The contractual rights to the cash flow from the financial asset expire, or 2. The contractual rights to receive the cash flows of a financial asset are transferred, or it retains the contractual rights to receive the cash flows of a financial asset but assumes a contractual obligation to pay them to one or more recipients. In this sense, if the risks and rewards of ownership of the financial asset are substantially transferred, the financial asset is derecognized. In the case of unconditional sales, sales under repurchase agreements at fair value at the date of repurchase, sales of financial assets with a purchased call option or a written put option that is deeply out of the money, uses of assets where the transferor does not retain subordinated financing nor grants any credit enhancement to the new owners, and other similar cases, the transferred financial asset is recognized from the Interim Consolidated Statements of Financial Position with simultaneous recognition of any rights or obligations retained or created as a result of the transfer. In the case of sales of financial assets: (i) under fixed-price repurchase agreements or using the sale price plus interest, (ii) of securities lending agreements in which the borrower must return the same or (iii) similar assets and in other akin cases, the transferred financial asset is not recognized from the Interim Consolidated Statements of Financial Position and continues to be measured using the same criteria as before the transfer. A financial liability is derecognized when and only when it is extinguished – that is, when the obligation specified in the contract is paid for, cancelled or expired. In the case of loans, the FMC requirements for recognition applies. See letter o), VIII. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 18
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued vi. Offsetting a financial asset with a financial liability A financial asset and a financial liability shall be offset and presented by their net amount in the Interim Consolidated Statements of Financial Position when, and only when, there is a legally enforceable right to set off the recognized amounts and an intention to settle the net amount or to realize the asset and settle the liability, simultaneously. As of March 31, 2026, and 2025, and December 31, 2025 , the Bank has no financial asset/liability that offset. 9. Financial derivatives and hedge accounting Derivatives are classified as either trading instruments or hedging instruments. The Bank uses financial derivatives for the following purposes: i. To provide such instruments to customers who request them to manage their market and credit risks. ii. To use them for the risk management of the proprietary position of the Bank's entities and their assets and liabilities ('hedging derivatives'). iii. To benefit from changes in the value of these derivatives (trading derivatives). Trading derivatives are measured at fair value through profit or loss and are presented as assets/liabilities according to their positive or negative fair value. Derivatives that do not qualify as hedging instruments are accounted for as trading instruments. Hedge accounting aims to reflect in the financial statements the effect of an entity’s risk management activities that use financial instruments to manage exposures arising from specific risks that could affect profit or loss for the period or other comprehensive income. Up until the 2024 financial year, the Bank chose to continue applying the guidelines of IAS 39 for hedge accounting. The essential requirements for a financial derivative to be considered a hedging instrument are: 1. To hedge one of the following three types of risk: a. Changes in the value of assets and liabilities due to fluctuations, among others, in inflation (UF), interest rates and/or exchange rates to which the position or balance being hedged is subject (“fair value hedges”). b. Changes in estimated cash flows arising from financial assets and liabilities, commitments and highly probable forecast transactions (“cash flow hedges”). c. The net investment in a foreign operation (“hedges of net investments in foreign operations”). 2. To effectively eliminate some risk inherent in the hedged item or position throughout the expected hedging period, which implies that: a. At the inception of the hedge, it is expected that, under normal conditions, it will be highly effective (“prospective effectiveness”). b. There is sufficient evidence that the hedge has been highly effective throughout the life of the hedged item or position (“retrospective effectiveness”). 3. It has been properly documented that the financial derivative was entered into specifically to serve as a hedge of certain balances or transactions and how such hedge was intended to be achieved and measured, provided that this is consistent with the Bank’s risk management practices. Valuation differences of accounting hedges are recognized according to the following criteria: a. In fair value hedges, the differences arising both in the hedging instruments and in the hedged items (with respect to the hedged risk) are recognized directly in the line item “Net income from financial operations” in the Interim Consolidated Statements of Income. b. In fair value hedges of interest rate risk of a portfolio of financial instruments (“macro-hedges”), gains or losses arising from the valuation of hedging instruments are recognized directly in the Interim Consolidated Statements of Income under “Interest income and indexation adjustments”. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 19
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued c. In cash flow hedges, the effective portion of the change in the value of the hedging instrument is recorded in the CInterim Consolidated Statements of Other Comprehensive Income under “Valuation accounts – Cash flow hedges” within equity. d. Valuation differences of the hedging instrument corresponding to the ineffective portion of cash flow hedges are recognized directly in the Interim Consolidated Statements of Income under “Net income from financial operations. If a derivative designated as a hedging instrument, whether due to its termination, ineffectiveness or for any other reason, no longer meets the requirements indicated above, hedge accounting is discontinued. When a ‘fair value hedge’ is discontinued, the fair value adjustments to the carrying amount of the hedged item attributable to the hedged risk are amortized to profit or loss from that date, when applicable. When ‘cash flow hedges’ are discontinued, the cumulative gain or loss on the hedging instrument that has been recognized in the Interim Consolidated Statements of Other Comprehensive Income under ‘Valuation accounts’ within equity (while the hedge was effective) will continue to be recognized in equity until the hedged transaction occurs, at which point it will be recognized in the Interim Consolidated Statements of Income, unless the transaction is no longer expected to occur, in which case it is recognized immediately in the Interim Consolidated Statements of Income. During the 2025 financial year, the Bank began applying the requirements established in IFRS 9 for hedge accounting relationships. The main impacts of this change on hedge accounting are primarily related to: • the incorporation of credit risk dominance analysis and the economic relationship in effectiveness assessment • the updating of formal hedge documentation • the recognition of a hypothetical derivative representing the portion of the mark-to-market (MTM) corresponding to the risk being hedged in the hedged item for micro cash flow hedges. The hypothetical derivative replaces the previously recognized fictitious derivative For a hedging relationship to meet the requirements established in IFRS 9, it must comply with the following conditions: • Eligible hedging instruments: All derivative financial instruments or non-derivative financial instruments measured at fair value through profit or loss, or combinations thereof. In the case of foreign exchange risk hedges, any type of non-derivative financial instrument may also be designated, regardless of its measurement criteria. • Eligible hedged items: Recognized assets or liabilities, firm commitments, highly probable forecast transactions, and net investments in foreign operations. • Documentation: At the inception of the hedge, a formal designation and documentation of the hedging relationship must be prepared, including the entity’s risk management objective and strategy, identification of the hedging instrument and hedged item, the nature of the hedged risk, the methodology for measuring effectiveness (including analysis of sources of ineffectiveness), and the hedge ratio. The main sources of ineffectiveness based on the hedged risk are: • Interest rate risk: mismatches in time horizons, principal amounts, repricing and payment dates, time value of options, and modifications to the hedged item or hedging instrument. • Foreign exchange risk: in addition to the above, differences between the interest rates of the two currencies representing the net cost or benefit of exchanging cash flows between currencies with different interest rates. • Effectiveness: The hedging relationship must be effective, which requires the existence of an economic relationship between the hedged item and the hedging instrument, that credit risk does not dominate value changes, and that the hedge ratio is consistent with that used in the entity’s risk management. The implementation of IFRS 9 for hedges designated prior to December 31, 2024 did not result in a material impact on the Consolidated Statement of Financial Position or the Consolidated Statement of Income. As of December 31, 2025, the impact on profit or loss amounted to Ch$2,401 million. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 20
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued The Bank assesses these effectiveness requirements through: • Demonstrating the economic relationship between the hedged item and the hedging instrument through a qualitative test, and, if not met, through quantitative tests comparing the market value of the hedged items (for the hedged risk) and the hedging instruments. Prospectively, a quantitative analysis of changes in market values is also performed. • Calculating the hedge ratio based on the quantity of hedged items actually hedged and the quantity of hedging instruments actually used. • Assessing credit risk dominance through analysis of the credit exposure of both hedged items and hedging instruments. Hedge accounting derivatives are classified and recognized based on the type of risk they hedge, in accordance with the following criteria: Fair value hedges: These hedge exposures to changes in the fair value of a hedged item attributable to a specific risk. Gains or losses arising from both the hedging instruments and the hedged items (for the hedged risk) are recognized directly in the Interim Consolidated Statements of Income. When a fair value hedge is discontinued, previously recognized adjustments to the hedged item are amortized to profit or loss using the recalculated effective interest rate from the date hedge accounting ceases and must be fully amortized by maturity. In accordance with paragraph 6.1.3 of IFRS 9, the Bank continues to account for fair value macro-hedges under IAS 39. Accordingly, gains or losses on hedging instruments are recognized directly in the Interim Consolidated Statements of Income, while gains or losses arising from changes in the fair value of the hedged amount (attributable to the hedged risk) are recognized in profit or loss with a corresponding entry in “Changes in the fair value of hedged items” of a portfolio hedge of interest rate risk (asset or liability), as appropriate. Cash flow hedges: These hedge exposures to variability in cash flows attributable to a specific risk associated with the hedged item. The effective portion of changes in the value of the hedging instrument is temporarily recognized in equity, under “Other comprehensive income – Items that may be reclassified to profit or loss – Hedging derivatives. Cash flow hedges (effective portion)” until the hedged item affects profit or loss. At that point, it is recognized in the Interim Consolidated Statements of Income in the same period as the hedged item, unless it is included in the cost of a non-financial asset or liability, or when forecast transactions result in the recognition of non-financial assets or liabilities. When cash flow hedges are discontinued, the cumulative gain or loss recognized in equity (while the hedge was effective) continues to be recognized there until the hedged transaction occurs, at which point it is recognized in profit or loss, unless the transaction is no longer expected to occur, in which case it is recognized immediately in profit or loss. The Bank discontinues hedge accounting when the hedging instrument expires, is sold, or when the hedging relationship becomes ineffective because it is no longer aligned with the risk management objective. In such cases, the derivative is thereafter accounted for as a trading derivative. If a hedging relationship ceases to meet effectiveness requirements but the risk management objective remains unchanged, the Bank will assess whether to rebalance or adjust the hedge ratio to meet effectiveness requirements again without discontinuing the hedging relationship. A hedging instrument is generally designated in its entirety, as the factors contributing to its fair value are interdependent. However, IFRS 9 allows certain components to be excluded from designation: 1. Separating the intrinsic value and time value of an option and designating only the intrinsic value as the hedging instrument (mandatory if intrinsic value is designated); 2. Separating the forward element and spot element of a forward contract and designating only the spot element as the hedging instrument (determined per hedging relationship); and 3. Separating the foreign currency basis spread of a currency derivative and excluding it from designation (determined per hedging relationship). Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 21
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued Separating these components improves hedge effectiveness and allows alternative accounting treatment for excluded components, whereby changes in value are recognized in “Accumulated other comprehensive income – Non-designated items” and subsequently recognized in profit or loss depending on the nature of the hedged item, either over time or when the hedged transaction occurs. Additionally, if the entity manages the credit risk of all or part of a financial instrument using credit derivatives, it may designate a credit exposure at fair value through profit or loss, provided that the derivative matches the name and seniority of the instrument being hedged. This designation may be made at initial recognition or subsequently, with proper documentation. From designation onward, all fair value changes (not only those related to credit risk) are recognized in the Interim Consolidated Statements of Income. Embedded derivatives in hybrid financial instruments “Embedded derivatives” are a component of a hybrid contract that simultaneously includes a non-derivative host contract together with a financial derivative that is not separately transferable and has the effect that some of the cash flows of the hybrid contract vary in the same manner as the embedded derivative would if considered on a stand-alone basis. As of March 31, 2026, and 2025, and December 31, 2025, Banco Santander-Chile maintains embedded derivatives in its portfolio within contracts known as Dual Currency, which are accounted for as options within the trading derivatives portfolio 10. Fair value of financial assets and liabilities No transaction costs are deducted when financial assets and liabilities are measured at fair value. Assets and liabilities subsequently measured at amortized cost are not required to be measured at fair value. 'Fair value' is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal market at the measurement date under current market conditions (i.e., an exit price) regardless of whether that price is directly observable or estimated using another valuation technique. Fair value measurement is for a specific asset or liability. Therefore, in measuring fair value, the Bank considers the characteristics of the asset or liability in the same way that market participants would consider in pricing the asset or liability at the measurement date. In addition, the fair value measurement assumes that the transaction of selling the asset or transferring the liability takes place either: (a) in the principal market for the asset or liability or (b) in the absence of a principal market, the most advantageous market for the asset or liability. When there is no market price for a given financial instrument, its fair value is estimated based on the price established in recent transactions involving similar instruments or, in the absence thereof, based on valuation models sufficiently contrasted by the international financial community, considering the specific peculiarities of the instrument to be valued and especially, the different types of risk related to the instrument. When valuation techniques are used, they maximize the use of the relevant observable input data and minimize that of unobservable input data. For example, when an asset or a liability measured at fair value has a bid price and an asking price, the price within the bid-ask spread that is most representative of fair value in the circumstances shall be used to measure fair value regardless of where the input is categorized within the fair value hierarchy. Although average prices are allowed as a practical resource to determine the fair value of an asset or a liability, the Bank makes an adjustment (FVA or fair value adjustment) when there is a gap between the purchase and sale price (close-out cost). All derivatives are recorded in the Interim Consolidated Statements of Financial Position at fair value from the trade date. If their fair value is positive, they shall be recorded as an asset; if their fair value is negative, they shall be recorded as a liability. In the absence of evidence to the contrary, the trade date's fair value is deemed the transaction price. Changes in the fair value of derivatives from the trade date are recognized with a balancing entry in the Interim Consolidated Statements of Income under "Profit/(loss) on financial assets/liabilities held for trading at fair value through profit or loss". Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 22
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued Specifically, the fair value of financial derivatives included in trading portfolios is based on their daily market quotation and, if for exceptional reasons a market quotation cannot be determined on a given date, valuation techniques similar to those used for derivatives contracted in over-the-counter (OTC) markets are applied. The fair value of these derivatives is determined as the sum of the future cash flows arising from the instrument, discounted to the valuation date (“present value” or “theoretical close”), using valuation methodologies recognized in the financial markets, including “net present value” and option pricing models, among other methods. In addition, the fair value of derivatives includes valuation adjustments reflecting the credit risk of the transaction, whether the Bank’s own credit risk (DVA) or that of the counterparty (CVA), with the objective that the fair value of each instrument incorporates both counterparty credit risk and the Bank’s own credit risk. Counterparty Credit Risk (CVA) is a valuation adjustment applied to derivatives contracted in over-the-counter markets as a result of exposure to counterparty credit risk. Liquidity Valuation Adjustment (LVA) has also become a key component in the management of valuation adjustments, reflecting the funding cost of uncollateralized derivatives. LVA represents the additional cost incurred when a bank enters into uncollateralized derivative transactions that require funding, incorporating the liquidity premium associated with obtaining funding for these positions. LVA hedging aims to mitigate the financial impact of funding costs associated with uncollateralized exposures. The CVA is calculated considering the potential exposure to each counterparty in future periods. The Debit Valuation Adjustment (DVA) is a valuation adjustment similar to CVA, but generated by the Bank's credit risk assumed by our counterparties. In the case of derivative instruments contracted with Central Clearing Houses, where the variation margin is contractually defined as a firm and irrevocable payment, this payment is considered part of the derivative's fair value. The Liquidity Valuation Adjustment (LVA) has become a key component in the management of valuation adjustments, reflecting the funding cost of uncollateralized derivatives. LVA represents the additional cost incurred when a bank enters into uncollateralized derivative transactions that require funding, incorporating the liquidity premium associated with obtaining funding for these positions. LVA hedging aims to mitigate the financial impact of funding costs associated with uncollateralized exposures. For loans and advances covered by fair value hedging transactions, changes in their fair value related to the risk or risks covered in these hedging transactions are recorded. Equity instruments and contracts related to these instruments must be measured at fair value. Nevertheless, in certain circumstances, the Bank may use cost as an appropriate fair value estimate. This may be necessary, for example, if the recently available information is insufficient to measure the fair value or if a wide range of possible fair value measures exists, and the cost represents the best fair value estimate within that range. Furthermore, the Bank may irrevocably elect to present subsequent changes in the instrument's fair value in other comprehensive income. As of March 31, 2026, and 2025, and December 31, 2025, no significant investments in listed financial instruments had ceased to be recorded at their quoted market value due to their market being unable to be considered active. The amounts at which financial assets/liabilities are recorded represent, in all material respects, the Bank's maximum exposure to credit risk at each reporting date. The Bank also has collateral and other credit enhancements to mitigate its exposure to credit risk, consisting mainly of mortgages, cash, equity and personal guarantees, leased and rented assets, assets purchased under repurchase agreements, securities lending and credit derivatives. Valuation techniques According to IFRS 13 'Fair Value Measurement', a fair value hierarchy is established based on three levels: Level 1, Level 2 and Level 3, in which the highest priority is given to quoted prices (unadjusted) in active markets for identical assets and liabilities and the lowest priority to unobservable inputs. Financial instruments at fair value and determined by published prices in active markets (Level 1) comprise government bonds, corporate bonds, exchange-traded derivatives, securitized assets, equities, short positions and issued bonds. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 23
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued In cases where quotations cannot be observed, management best estimates what the market would price using its own internal models. In most cases, these internal models use data based on observable market parameters as significant inputs (level 2) and sometimes use significant unobservable inputs in market data (level 3). Various techniques are used to estimate it, including extrapolating observable market data. The most reliable evidence of the fair value of a financial instrument on initial recognition is the transaction price unless the value of that instrument can be derived from other market transactions by the same or a similar instrument or valued using a valuation technique in which the inputs used include only observable market data, mainly interest rates. The main techniques used as of March 31, 2026, and 2025, and December 31, 2025 by the Bank's internal models to determine the fair value of financial instruments are described below: i. The present value method is used to value financial instruments that allow static hedging (mainly forwards and swaps). Expected future cash flows are discounted using the interest rate curves of the corresponding currencies. As a rule, interest rate curves are data that can be observed on the markets. ii. In the valuation of financial instruments that require dynamic hedging (mainly structured options and other structured instruments), the “Black-Scholes” model is normally used. Where appropriate, observable market inputs are used to obtain factors such as the diluted bid-offer, exchange rates, volatility, correlation between indices and market liquidity. iii. In the valuation of certain financial instruments subject to interest rate risk, such as interest rate futures, caps and floors, the present value method (futures) and the “Black-Scholes” model (“plain vanilla” options) are used. The main inputs used in these models are mainly observable market data, including the corresponding interest rate curves, volatilities, correlations and exchange rates. The fair value of the financial instruments calculated by the aforementioned internal models considers contractual terms and observable market data, including interest rates, credit risk, exchange rates, the quoted market price of shares and market rates of raw materials, volatility, prepayments and liquidity. The Bank's management verifies that the valuation models do not incorporate significant subjectivity. Therefore, if necessary, these methodologies can be adjusted and calibrated through internal calculations of fair value and subsequent comparison with the corresponding actively traded prices. The Bank has developed a formal process for the systematic valuation and management of financial instruments, implemented in all units included in the scope of consolidation. The governance structure of this process distributes responsibilities between two separate divisions: Treasury (responsible for the development, marketing and daily management of financial products and market data) and Market Risks (responsible for the periodic validation of valuation models and market data, the process of calculating risk metrics, standards for approving new transactions, market risk management and the implementation of valuation adjustment standards). Approving a new product involves several steps (application, development, validation, integration into corporate systems and quality review) before production. This process ensures the rating systems are properly reviewed and stable before use. Details of the most significant derivative products and families, together with their respective valuation techniques and inputs, by type of asset, are set out in Note 44 'Fair value of financial assets and liabilities' in these Interim Consolidated Financial Statements. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 24
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued 11. Fixed assets This category includes the buildings, land, furniture, vehicles, computer hardware and other fixed assets owned by the consolidated entities. Assets are classified according to their use as follows: a. Fixed assets for own use Fixed assets for own use (which includes, among others, tangible assets received by consolidated entities in settlement, in whole or in part, of financial assets representing receivables from third parties, and which are expected to be used on a continuing basis in the entity’s own operations) are presented at acquisition cost, less the corresponding accumulated depreciation and, where applicable, impairment losses resulting from comparing the net carrying amount of each item with its corresponding recoverable amount. Depreciation is calculated using the straight-line method over the acquisition cost of assets minus their residual value, assuming that the land on which buildings and other structures stand has an indefinite life and is not subject to depreciation. The Bank applies the following useful lives for the tangible assets that comprise its assets: ITEM Useful Life (Months) Land - Paintings and works of art - Carpets and curtains 36 Computers and Hardware 36 Vehicles 36 Machines and general equipment 60 Office furniture 60 Telephone and communication systems 60 Security systems 60 Rights over telephone lines 64 Air conditioning systems 84 ATMs and teleconsultations 120 Other installations 120 Buildings 1,200 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 25
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued At each reporting period, the consolidated entities assess whether there is any indicator that the carrying amount of any tangible asset exceeds its recoverable amount. If this is the case, the asset's carrying amount is reduced to its recoverable amount. Future depreciation charges are adjusted under the revised carrying amount and to the new remaining useful life, if an adjustment of the latter is necessary. Likewise, the estimated useful lives of the items of property, plant and equipment held for own use are reviewed at the end of each reporting period to detect significant changes. If changes are detected, the useful lives of the assets are adjusted by correcting the depreciation charge to be recorded in the Interim Consolidated Statements of Income in future years based on the new useful lives. Maintenance expenses relating to tangible assets held for own use are recorded as an expense in the period in which they are incurred. b. Assets leased out under operating leases The criteria used to record the acquisition cost of assets leased out under operating leases, calculate their depreciation and their respective estimated useful lives, and record their impairment loss are the same criteria as those for fixed assets held for own use. 12. Leases At the contract's creation, the Bank assesses whether it contains a lease or not. A contract contains a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for compensation. To assess whether a contract conveys the right to control the use of an identified asset, the Bank assesses whether: • The contract involves using an identified asset. This may be specified explicitly or implicitly and should be physically identified. The asset is not identified if the supplier has a significant substitution right. • The Bank has the right to obtain all the economic benefits from using the asset throughout the contract's duration. • The Bank has the right to direct the use of the asset – this is the decision-making purpose for which the asset is used. i. As a lessee The Bank recognizes a right-of-use asset and a lease liability at the starting date of the lease according to the IFRS 16 'Leases'. The Bank's main contracts are for offices and branches which are necessary to undertake its activities. In the beginning, the right-of-use asset is equal to the lease liability. It is calculated as the present value of the lease payments, which are discounted using the Bank's incremental interest rate at the starting date and considering each contract's duration. The average incremental interest rate is 1.72%. Subsequently, the asset is straight-line depreciated according to the contract's duration, and the financial liability is amortized in terms of the monthly payments. The financial interest is charged to net interest income, and the depreciation is charged to the depreciation expense of each financial year. The lease's term encompasses non-cancellable periods stipulated within each contract. In the case of a lease contract with indefinite duration, the Bank has determined to assign a span equal to the longest of the non-cancellable period of its lease contracts. Contracts with a non-cancellable period of 12 months or less are treated as short-term leases. Therefore, the related payments are recorded as a straight-line expense. Any change in the lease term or rent is treated as a new measurement of the lease. In the initial measurement, the Bank measures the right-of-use of the asset at cost. The rent of the lease contracts is agreed in UF and payable in Chilean pesos. According to Circular No 3,649 of the FMC, the monthly UF variation that affects all contracts established in such monetary units should be treated as a new measurement. Therefore, readjustments should be recognized as an amendment to the obligation, and in parallel, the amount of the related asset should be adjusted. The Bank has not entered into lease agreements with guarantee clauses for residual value or variable lease payments. ii. As a lessor When the Bank acts as a lessor, it first determines if it corresponds to a financial or operating lease. To do this, the Bank evaluates whether it has substantially transferred all the risks and benefits of the asset. If so, this corresponds to a financial lease. Otherwise, it is an operating lease. The Bank recognizes lease rentals received on a straight-line income basis over the lease term. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 26
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued iii. Third-party financing The sum of present values of the lease payments receivable from the lessee is recognized in the line item: 'Loans and receivables from customers' in the Interim Consolidated Statements of Financial Position. This includes the price of the lessee's right-to-call option at the end of the lease term when there is reasonably certain that the lessee will exercise said right. The financial income and expense derived from these contracts are recorded in the Interim Consolidated Statements of Income under 'Interest income' and 'Interest expense', respectively, to achieve a constant return rate over the lease term. 13. Factoring transactions Factored receivables are valued at the amount disbursed by the Bank in exchange for invoices or other commercial instruments representing the credit the transferor assigns to the Bank. The price difference between the amounts disbursed and the actual face value of the loans is recorded as interest income in the Interim Consolidated Statements of Income using the effective interest method over the financing period. When the assignment of these instruments involves no liability on the part of the assignee, the Bank assumes the risks of insolvency of the parties responsible for payment. 14. Intangible assets Intangible assets are non-monetary assets (identifiable separately from other assets) without physical substance arising from legal or contractual rights. The Bank recognizes an intangible asset, whether purchased or self-created (at cost) when the asset's cost can be measured reliably. Additionally, the future economic benefits attributable to the asset are expected to flow into the Bank. To calculate intangible assets, they are recorded initially at their acquisition or production cost, from which the accumulated amortization and accumulated impairment loss are subtracted. Internally developed computer software is recorded as an intangible asset if, among other requirements (primarily the Bank's ability to use or sell it), it can be identified and its ability to generate future economic benefits can be demonstrated. Intangible assets are amortized linearly based on their estimated useful life, defined by default at 36 months. They can be modified if the extent to which the Bank will benefit from its use for a different period than the mentioned above is demonstrated. Expenditure on research activities is recorded as an expense incurred in the year and cannot be subsequently capitalized. 15. Non-current assets held for sale Non-current assets held for sale and discontinued operations Per the IFRS 5, 'Non-current assets held for sale and discontinued operations', a non-current asset is classified as held for sale if their carrying amount will be recovered mainly through a sale transaction rather than through continued use. To apply the above classification, the asset must meet the following requirements: • It must be available in its current conditions for immediate sale, and a sale must be highly probable. • For it to be highly probable, the appropriate management level must be engaged in a plan to sell the asset (or group of assets for its disposal). Also, a program to find a buyer and completing said purchase must have been actively initiated. • Furthermore, the sale should be expected to qualify for recognition as a completed sale within one year of the classification date. Assets classified in this way will be measured at the lower of their carrying amount or their fair value less costs to sell. As of March 31, 2026, the Bank has fixed assets that meet the definition of non-current assets held for sale, which amount to approximately Ch$28,840 million. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 27
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued Assets received in payment or awarded through judicial foreclosure proceedings. The goods received or awarded in lieu of payment of loans and accounts receivable from clients are recorded, in the case of assets awarded in lieu of payment, at the price agreed between the parties or, conversely, in those cases where there is no agreement between them, by the amount for which the Bank acquired said assets in a judicial auction. In both cases, an independent assessment of the market value of the goods is determined based on the state in which they are acquired. If the value of loans and receivables exceeds the fair value of the asset received or foreclosed as payment minus selling cost, the difference is recorded in the Interim Consolidated Statements of Income under 'Credit loss expenses'. These assets are subsequently valued at the lower amount between the initially recorded figure and the net realizable value, which corresponds to their fair value (liquidation value determined through an independent appraisal) minus their respective costs of sale. The differences between the two are recognized in the Interim Consolidated Statements of Income under 'Other operating expenses'. At the end of each year, the Bank reviews the selling cost of assets received or foreclosed in payment, which is then applied from that date onwards and into the following year. In December 2025, the average cost was estimated at 7.15% of the appraised value (7.11% as of December 31, 2025). In addition, a review of the appraisals by an independent is carried out every 18 months to adjust the fair value of the assets. In general, it is estimated that these assets will be disposed of within one year from the date they are acquired. In compliance with the provisions of Article 84 of the General Banking Law, those assets that are not sold within such period are written off in a single installment, and an extension is requested from the CMF. Also included are assets recovered from finance lease transactions, as lessor, that are held for sale rather than being re-leased through new finance lease transactions. 16. Income and expense recognition The most important criteria used by the Bank to recognize its revenues and expenses are summarized as follows: a. Interest revenue, interest expense, and similar items Interest income, interest expense and similar items are recognized on an accrual basis using the effective interest rate method. Nevertheless, the Bank ceases to recognize income on an accrual basis when a loan or one of its installments is 90 days overdue. This means that interest, adjustments or commissions are not recognized in the Interim Consolidated Statements of Income unless effectively received. These interest and readjustments are generally referred to as 'suspended' and are recorded in memorandum accounts, which do not form part of the Interim Consolidated Statements of Financial Position but are reported as part of the supplementary information therein (Note 30 and 31). Interest incomes of previous 'transactions with suspended accrual' are only recognized again when the debtor is up to date with its obligations. b. Commissions, fees and similar items Fee and commission income and expenses are recognized in the Interim Consolidated Statements of Income using the criteria set out in IFRS 15, ‘Revenue from contracts with customers’. Under IFRS 15, 'Revenue from contracts with customers', the Bank recognizes revenue when it satisfies its performance obligations by transferring the service (an asset) to the customer. Under this definition, an asset is transferred when the customer obtains control over the asset. The Bank considers the contractual terms and its traditional business practices for determining the transfer price. The transfer price is the amount of compensation the entity expects to be entitled in order to transfer committed goods and services to the customer, excluding amounts collected on behalf of third parties. The Bank consistently applies the recognition method for each performance obligation, whether it is satisfied over time or at a specific point in time. The main income arising from commissions, fees, and similar items are: Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 28
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued • Credit prepayment fees, which include fees related to customer prepayments of credit operations. • Fees and commissions on loans with letters of credit, which comprise fees and commissions related to granting loans with letters of credit. • Fees for lines of credit and overdraft fees, which refer to fees accrued during the year to grant credit lines and current account overdrafts. • Fees for guarantees and letters of credit, which include fees accrued during the year to grant payment guarantees for real or contingent third-party obligations. • Card service fees. These refer to fees earned and accrued for the year related to the usage of credit, debit and other cards. • Account administration fees. These comprise fees incurred for maintenance of current, savings and other accounts. • Fees and commissions for collections and payments, which include fees and commission income generated by the Bank's collections and payment services. • Commissions for brokerage and administering securities, which refer to income from commissions generated on brokerage, issuances, administration, and custody of securities. • Remuneration for the administration of mutual funds, investment funds or others, which comprises commissions from fund management companies separated by type of client (natural or legal person). • Insurance intermediation and consultancy fees, which include income generated through insurance sales, separated by the type of insurance brokered. • Fees for financial leasing transaction services, which refer to those financial leasing services in which the Bank acts as a lessor. • Securitization fees, which include fees for securitization services. • Fees for financial advisory services, which comprise those involved in advisory services concerning the issuance and placement of financial instruments, restructuring and funding financial liabilities, sale and purchase of companies, and others. • Other commissions earned, which include income generated by currency exchanges, issuing cashier checks and guarantee slips, trust commissions, foreign trade operations, student loan administration, and other services. Commission expenses comprise: • Card transaction fees, which involve commissions generated by credit cards, debit cards and the provision of funds related to the income generated from card service fees. • License fees of card brands. These are fees paid to the main card brands: credit, debit and provision of funds. • Other fees for services linked to the credit card system and cards with the provision of funds. • Expenses for loyalty and merit program obligations for card clients. They refer to expenses related to customer benefit programs related to the use of cards. • Fees for securities transactions. They comprise fees for deposit, safekeeping and brokerage of securities, investments in mutual funds, stock exchanges, central counterparty and market infrastructure services. • Other fees for services received. They include securities services, foreign trade, correspondent banking, ATMs and wire transfer fees. • Fees for clearing high-value payments, which include fees to ComBanc, CCLV, etc. The relationship between the Segment Note and the disaggregated income is presented in Note 32 Commission Income and Expenses. The Bank maintains loyalty plans associated with its credit cards, which under IFRS 15 “Revenue from ordinary activities from contracts with customers” have the necessary provisions to meet the delivery of the committed future performance obligations, or said obligations are settled immediately when they are generated. c. Non-financial income and expenses These are recognized under the criteria established in IFRS 15, 'Revenue from contracts with customers', identifying the performance obligation and when they are satisfied (accrued). Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 29
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued d. Commissions in the origination of loans Financial fees and commissions arising from the origination of loans, mainly origination or research and information gathering fees are accrued and recognized in the Interim Consolidated Statements of Income over the life of the loan. 17. Provisions for credit risk on loans and receivables and contingent liabilities The Bank continuously" evaluates the entire portfolio of loans and contingent loans, as established by the FMC, to promptly create sufficient provisions to cover the expected loss linked with the debtors' characteristics and their loans based on payment and subsequent recovery. The Bank uses the following models established by the FMC and approved by the Board of Directors to assess its loan and contingent loan portfolio: • Individual assessment of debtors – This applies to debtors recognized as individually significant, that is, with substantial levels of debt, and to those who, even if not significant, are not able to be classified in a group of financial assets with similar credit risk characteristics, and which, due to their size, complexity or level of exposure, require detailed analysis • Group assessment of debtors - Group assessments are relevant for residential mortgage and consumer credit exposures, in addition to commercial student credit exposures and exposures to debtors that simultaneously meet the following conditions: i. The Bank has an aggregate exposure to the same counterparty of less than UF 20,000. The aggregate exposure is considered as the gross amount before provisions or other mitigation factors. It also includes residential mortgages in the calculation. Concerning off-balance sheet items (contingent loans), the gross amount is calculated by applying the credit translation factors defined in Chapter B-3 of the CASB. ii. Each aggregate exposure to a single counterparty does not exceed 0.2% of the total portfolio of loans assesses on a group basis. Group assessments are suitable for dealing with many transactions, each of a low amount, involving individuals or small companies. The Bank groups debtors with similar credit risk characteristics by associating each group with a certain probability of non- performing and a recovery rate based on a substantiated historical analysis. To this end, the Bank implemented the standard model for mortgage and commercial loans and its internal model for consumer loans. A. Provisions for individual assessments The individual assessment of a commercial loan debtors is necessary, as established by the FMC, in the case of companies that require detailed knowledge and analysis due to their size, complexity, or level of exposure to the entity. The analysis of debtors focuses firstly on their credit quality. Then, it classifies them in the risk category corresponding to the debtor and their respective credit operations and contingent loans after assigning them to one of the three portfolio statuses: Normal, Substandard or Impaired. The risk factors used in this analysis are the industry or sector, business situation, partners and management, the company's financial situation and ability to pay, and payment behavior. The portfolio categories and their definitions are as follows: 1. Normal Portfolio includes debtors in which their payment capacity will permit them to pay their obligations and commitments. Evaluations of the current economic and financial environment do not indicate that this will change. The classifications assigned to this portfolio are categories from A1 to A6. 2. Substandard Portfolio includes debtors with financial difficulties or significant deterioration of their payment ability. There is reasonable doubt concerning the future reimbursement of the capital and interest within the contractual terms, with limited ability to meet short-term financial obligations. The classifications assigned to this portfolio are categories B1 to B4. 3. Impaired Portfolio includes debtors and their credits for which repayment is considered remote, as they show a deteriorated or no payment capacity. This portfolio includes debtors who have stopped paying their debts or with obvious indications that they will stop paying, as well as those that require a forced restructuring of debts, reducing the obligation or postponing the term of the principal or interest, and any debtor who is in arrears equal to or greater than 90 days in the payment of interest or capital. The classifications assigned to this portfolio are categories C1 to C6. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 30
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued Normal and Substandard Portfolio As part of the individual assessment of debtors, the Bank classifies them into the following categories, assigning them a probability of default and severity, which result in the expected loss percentages: Portfolio Debtor's Category Probability of Non- performance (%) Severity (%) Expected Loss (%) Normal Portfolio A1 0.04 90.00 0.0360 A2 0.10 82.50 0.0825 A3 0.25 87.50 0.2188 A4 2.00 87.50 1.7500 A5 4.75 90.00 4.2750 A6 10.00 90.00 9.0000 Substandard Portfolio B1 15.00 92.50 13.8750 B2 22.00 92.50 20.3500 B3 33.00 97.50 32.1750 B4 45.00 97.50 43.8750 The first step to determine the amount of provisions is to assess the affected exposure, which comprises the book value of loans plus contingent loans, minus the amounts that are feasible to recover through the execution of financial collateral or other collateral covering the operations. To this exposure, the respective loss percentages are applied. In the case of collateral, the Bank must demonstrate that the value assigned to the deduction reasonably reflects the value that can be realized from the disposal of the assets or equity instruments. If the debtor's credit risk is substituted for the guarantor's credit quality, this methodology will only apply if the guarantor or surety is an entity qualified in a category similar to investment grade by a local or international rating agency recognized by the FMC. Under no circumstances may an endorsed valuable be deducted from the exposure amount, a procedure applicable only in the case of financial guarantees or real collateral. Notwithstanding the above, the Bank must maintain a minimum provision of 0.5% over loans and contingent loans in the normal portfolio. Impaired Portfolio The impaired portfolio includes all loans and the entire value of contingent loans of the debtors overdue by 90 days or more on a single payment of interest or principal of any loan at the end of the month. It also includes debtors who have been granted a loan to refinance loans overdue by 60 days or more and debtors who have undergone forced restructuring or partial debt forgiveness. The impaired portfolio excludes: a) residential mortgage loans, with payments overdue less than 90 days; and b) loans to finance higher education granted according to Law No 20,027, that do not fulfil the non-performing conditions outlined in Circular No 3,454 of December 10, 2008. The provision for an impaired portfolio is calculated by determining the expected loss rate for the exposure, deducting the value of recoverable collateral and deducting the present value of recoveries made through collection services after the related expenses. Once the expected loss range is determined, the related allowance rate is applied over the exposure amount, including loans and contingent loans related to the debtor. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 31
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued The allowance rates applied over the calculated exposure are as follows: Classification Estimated range of loss Allowance C1 Up to 3% 2% C2 Between 3% and 20% 10% C3 Between 20% and 30% 25% C4 Between 30% and 50% 40% C5 Between 50% and 80% 65% C6 More than 80% 90% All the debtor's loans are maintained in the Impaired Portfolio until its payment ability is normalized, notwithstanding the charge-off of each loan that meets Title II of Chapter B-2 of the CASB. Once the circumstances that led to classification in the Impaired Portfolio have been overcome, the debtor can be removed from this portfolio once all the following conditions are met: i. The debtor has no obligations overdue with the Bank for 30 consecutive days or more. ii. The debtor has not been granted loans to refinance its obligations. iii. At least one of the payments includes the amortization of capital. iv. Two payments must already be made if the debtor has made partial loan payments in the last six months. v. If the debtor must make monthly payments, four consecutive installments must have been paid. vi. The debtor does not appear to have bad debts in the information provided by the FMC, except for insignificant amounts. B. Provisions for group assessments Group assessments are relevant for residential mortgage and consumer credit exposures, in addition to commercial student loan exposures and debtor exposures that simultaneously meet the following conditions: i. The Bank has an aggregate exposure (the exposure on the same Business Group at a consolidated level) to the same counterparty of less than UF 20,000. The aggregate exposure is considered gross of provisions or other mitigating factors and includes residential mortgage loans for its calculation. Concerning off-balance sheet items, the gross amount is calculated by applying the credit translation factors defined in Chapter B-3 of the CASB. ii. Each aggregate exposure to a single counterparty does not exceed 0.2% of the total portfolio evaluated under group assessment. To determine provisions, group assessments require the creation of groups of loans with homogeneous qualities in terms of the type of debtors and contracted loan terms in order to establish, using technically sound estimates and prudential criteria, the payment behavior of the group and the recoveries of its non-performing loans. This is done using a model based on the characteristics of the debtors, payment history, outstanding loans and delinquency, among other relevant factors. The Bank uses methodologies to determine credit risk based on internal and/or standard models to estimate provisions for the group- assessed portfolio. These include commercial loans for debtors who are not individually assessed, residential mortgage loans and consumer loans (including installment loans, credit cards and overdraft facilities). This methodology helps to independently identify the portfolio's performance one year ahead and determines the provision necessary to cover the losses arising in the period of one year from the balance sheet date. Clients are segmented according to their internal and external characteristics into groups or profiles to differentiate the risk of each portfolio in a more appropriate and orderly manner (client-portfolio model). This is known as the profile assignment method. The profile assignment method is based on a statistical construction method, constituting a relationship through a logistic regression between variables such as non-performance, external credit behavior, sociodemographic variables, and a response variable that determines a customer's risk, which in this case is non-performance equal to or greater than 90 days. Hence, common profiles are established and assigned a Probability of Non-Performance (PNP), also known as a Probability of Default (PD), and a recovery rate based on a substantiated historical analysis known as Loss Given Default (LGD). Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 32
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued Therefore, once the client has been assigned a profile and a PNP and a LGD has been set for their type of loan, the exposure at default (EXP) is calculated. This exposure includes the book value of the loans and receivables from the customer, plus contingent loans, minus any amount that can be recovered by activating collateral (for loans other than consumer loans). Notwithstanding the above, in establishing provisions related to mortgage and commercial loans, the Bank must recognize minimum provisions according to standard methods established by the FMC for those types of loans. While this is considered a conservative minimum base, it does not relieve the Bank of its responsibility to have its own internal methodologies for determining adequate provisions to cover the portfolio's credit risk. Provisions must be made considering the higher value obtained between the respective standardized method and the internal method. Standard method of provisions for group assessments 1. Residential mortgage portfolio Under the CASB, the Bank applies the standard provisioning method for residential mortgages. Under this method, the expected loss factor applicable to the number of residential mortgage loans will depend on the delinquency of each loan and the ratio, at the end of each month, between the outstanding principal amount of each loan and the value of the mortgage collateral (loan-to-value or LTV) that covers it. The relevant provisioning factor according to delinquency and LTV is as follows: LTV Range Days past due at month-end 0 1-29 30-59 60-89 Impaired portfolio LTV ≤ 40% PNP(%) 1.0916 21.3407 46.0536 75.1614 100 LGD (%) 0.0225 0.0441 0.0482 0.0482 0.0537 EL (%) 0.0002 0.0094 0.0222 0.0362 0.0537 40% < LTV ≤ 80% PNP(%) 1.9158 27.4332 52.0824 78.9511 100 LGD (%) 2.1955 2.8233 2.9192 2.9192 3.0413 EL (%) 0.0421 0.7745 1.5204 2.3047 3.0413 80% < LTV ≤ 90% PNP(%) 2.515 27.93 52.58 79.6952 100 LGD (%) 21.5527 21.66 21.92 22.1331 22.231 EL (%) 0.5421 6.0496 11.5255 17.639 22.231 LTV > 90% PNP(%) 2.74 28.43 53.08 80.3677 100 LGD (%) 27.2 29.03 29.59 30.1558 30.2436 EL (%) 0.7453 8.2532 15.7064 24.2355 30.2436 LTV= (Loan-to-Value Ratio) unpaid loan principal/value of the mortgage collateral. EL = Expected loss This standardized approach will also be applied to residential leasing transactions, following the same criteria described above and considering the leased asset value equivalent to the amount of the mortgage collateral. If the same debtor holds more than one residential mortgage loan with the Bank and one is overdue by 90 days or more, all these loans will be assigned to the impaired portfolio, with provisions calculated for each according to their respective LTV percentages. In the case of residential mortgage loans linked to housing and subsidy programs of the State of Chile, provided that they are contractually covered by the auction insurance supplied by the latter, the provisioning percentage may be weighted by a loss mitigation (LM) factor, which depends on the LTV percentage and the value of the house in the deed of sale (V). Therefore, the LM factors to be applied to the corresponding provisioning percentage are presented in the table below: Loss mitigation (LM) factor for loans with state auction insurance LTV Range Segment V: Deeded house price (UF) V<1,000 1,000< V <= 2,000 LTV <= 40% 100 40% < LTV <= 80% 80% < LTV <=90% 95 96 LTV > 90% 84 89 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 33
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued 2. Commercial loan portfolio Following the CASB, the Bank applies the standard model of provisions for commercial loans in the group portfolio, depending on whether it corresponds to commercial leasing, student or other commercial loans. Before implementing the standard method, the Bank used internal models to determine provisions for commercial loans assessed on a group basis. i. Commercial leasing operations For these operations the provision factor must be applied to the current value of commercial leasing operations (including the purchasing option at the end of the lease). Therefore, it will depend on the delinquency of each operation, the type of leased asset and the relationship, at the closing of each month, between the current value of each operation and the value of the leased asset (LTV), as indicated in the following tables: Probability of Non-Performance (PNP) applicable according to delinquency and type of asset (%) Days past due at the end of the month Type of asset Real estate Non-real estate 0 0.79 1.61 1-29 7.94 12.02 30-59 28.76 40.88 60-89 58.76 69.38 Non-performing portfolio 100 100 Loss Given Default (LGD) applicable by PVB range and type of asset (%) LTV range (*) Real estate Non-real estate LTV ≤ 40% 0.05 18.2 40% < LTV ≤ 50% 0.05 57 50% < LTV ≤ 80% 5.1 68.4 80% < LTV ≤ 90% 23.2 75.1 LTV > 90% 36.2 78.9 (*) LTV= Current value of operation/leased asset value The LTV ratio will be determined considering the appraisal value, expressed in UF for real estate and pesos for non-real estate, recorded at the time of granting the respective loan, considering any situations that may be causing temporary rises in the asset price at that time. ii. Student loans For these operations, the provision factor should be applied to the student loan and the exposure of the contingent loans, when applicable. The determination of this factor depends on the type of student loan and the enforceability of the payment of capital or interest at the end of each month. When payment is due, the factor will also depend on the delinquency of the loan. For the loan classification, a distinction is made between those granted for financing higher studies under Law No 20,027 (CAE) and, on the other hand, the CORFO guaranteed loans or other student loans. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 34
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued Probability of Non-Performance (PNP) according to enforceability, delinquency and type of loan (%) Presents payment enforceability or interest at month-end Days past due at month-end Type of student loan CAE CORFO and others Yes 0 5.2 2.9 1-29 37.2 15 30-59 59 43.4 60-89 72.8 71.9 Non-performing portfolio 100 100 No N/A 41.6 16.5 Loss Given Default (LGD) and type of asset (%) Presents payment enforceability or interest at month-end Type of student loan CAE CORFO and others Yes 70.9 No 50.3 45.8 iii. Generic commercial loans and factoring For factoring transactions and other commercial loans, the provisioning factor, applicable to the amount of the loan and the contingent loan exposure, will depend on the delinquency of each transaction and the ratio at the end of each month between the debtor's obligations to the Bank and the value of the collateral (LTVC) securing them, as indicated in the following tables: Probability of Non-Performance (PNP) applicable according to delinquency and LTVC range (%) Days past due at month-end Guarantee No collateral LTVC ≤ 100% LTVC > 100% 0 1.86 2.68 4.91 1-29 11.6 13.45 22.93 30-59 25.33 26.92 45.3 60-89 41.31 41.31 61.63 Non-performing portfolio 100 100 100 Loss Given Default (LGD) applicable according to LTVC range (%) Collateral (with/without) LTVC Range Factoring and other commercial loans without responsibility of assignor Factoring with responsibility of assignor Collateral LTVC ≤ 60% 5 3.2 60% < LTVC ≤ 75% 20.3 12.8 75% < LTVC ≤ 90% 32.2 20.3 90% < LTVC 43 27.1 No collateral 56.9 35.9 The collateral used to calculate the LTVC ratio of this method may be of a specific or general nature or those that are simultaneously specific and general in nature. However, a collateral can only be considered if, according to the respective coverage clauses, it was set in the first degree of preference in favor of the Bank and it only guarantees the debtor's credits concerning which it is attributed (not shared with other debtors). The invoices assigned in the factoring operations, or the guarantees linked to mortgage loans, regardless of their coverage clauses, will not be considered in the calculation. The following considerations must be taken into account when calculating the LTVC ratio: i. Transactions with specific guarantees: those in which the debtor provided specific guarantees for generic commercial loans and factoring. The LTVC ratio is calculated separately for each secured transaction as the division between the loan amount and the contingent loan exposure over the collateral's value. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 35
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued ii. Transactions with general guarantees: when the debtor is granted general or general and specific guarantees, the Bank calculates the corresponding LTVC jointly for all generic commercial loans, factoring and operations not contemplated in the above paragraph i), as the division between the sum of the amounts of loans and contingent loan exposures over the general or specific guarantees that, according to the scope of the remaining coverage clauses, protect the loans considered in the numerator of the ratio mentioned above. The amounts of collateral used in the LTVC ratio in (i) and (ii) should be determined according to the: • The collateral’s last valuation, whether in its appraisal or fair value, depending on the type of collateral in question. The criteria in Chapters 7-12 of the Updated Collection of Banking Regulations (from now on: UCBR) should be considered to determine fair value. • Possible situations that could be causing temporary rises in the values of the collaterals. • Limits to the amount of coverage established in their respective clauses. 3. Consumer loan portfolio Expected Loss (EL), which corresponds to the product of Probability of Default (PD) and Loss Given Default (LGD), will be uniformly applied to all consumer loans and contingent loans that the borrower holds with the bank and its subsidiaries in Chile, including consumer leasing operations. In the case of contingent operations, the exposure measure must be calculated in accordance with the provisions set forth in Chapter B-3 of the CASB issued by the FMC, the latest update which was published on March 6, 2024 (Circular No. 2,346). To define the value of the PNP, the following factors must be calculated for each borrower: • Delinquency level at the bank: this corresponds to the maximum delinquency level (in days) in the consumer portfolio, including consumer leasing operations, that the borrower has with the bank at the end of the month for which provisions are being determined. For clients with more than one operation, the highest value among them will be used. This variable must be measured across all entities that make up the institution’s global consolidated level. • 30-day delinquency in the financial system: this indicates whether the borrower has at least one direct debt with delinquency equal to or greater than 30 days in any of the 3 months prior to the provisioning month. To construct this variable, the borrower's delinquency across all known credit providers should be considered, using the debtor list compiled by the FMC, as well as the Bank’s own global consolidated data and various financial products. Only debts with communication restrictions under Law No. 19,628 on the Protection of Private Life should be excluded. • Ownership of a mortgage loan: this variable identifies whether the borrower has a current residential mortgage loan in the financial system. For this, the Bank must use the most recent available information at the time provisions are calculated, considering the debtor list compiled by the FMC, in addition to the Bank’s own global consolidated data. Based on the above variables, the PNP is determined according to the following table: With a residential mortgage loan in the system Without a residential mortgage loan in the system Maximum level of delinquency in the month and bank (interval in days that includes extremes) No over due loans of more than 30 days in the system With over due loans of more than 30 days in the system No over due loans of more than 30 days in the system With over due loans of more than 30 days in the system 0 and 7 3.3% 14.6% 6.6% 19.8% 8 and 30 20.4% 41.6% 30.6% 48.5% 31 and 60 50.2% 63.0% 65.1% 66.3% 61 and 89 62.6% 81.7% 72.3% 86.9% If the borrower is in default (>90 days), the assigned PNP will be 100%. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 36
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued To determine the value of the LGD, it must be identified whether the borrower has a residential mortgage loan in the system (as defined for PNP), and the type of loan involved. The LGD to be used is defined in the table below: Leasing operations and auto loans Installments loans Credit card, overdraft and other consumer loans With residential mortgage loan in the system 33.2% 47.7% 49.5% Without residential mortgage loan in the system 33.2% 56.6% 60.3% The assignment of the LGD value should follow these guidelines: • "Leasing operations and auto loans" include loans whose purpose is to finance the acquisition of personal-use vehicles, which are pledged as collateral in favor of the institution. This category also includes financial consumer leasing operations recorded under item 14800 04 00 of the CASB of the FMC. • "Installment Loans" correspond to those recorded under item 14800 01 00 of Chapter C-3 of the CASB (Consumer loans in installments), provided they were granted following the signing of a promissory note that clearly states the principal amount, term, interest rate, and number of installments, without a predefined use of the funds (unrestricted use by the borrower), and do not fall into the previous category. • If a loan does not fall under either of the two definitions above but is classified under line 14800 00 00 (Consumer loans) of the CASB, the LGD value assigned to the “Credit cards, credit lines, and other consumer loans” category should be applied. C. Provisions for contingent loans Contingent loans are transactions or commitments in which the Bank assumes a credit risk by obliging itself vis-à-vis third parties upon a future event to make a payment or a disbursement to be recovered from its clients. To calculate the provisions as indicated in Chapter B-1 of the CASB, the amount of exposure to be considered shall be equal to the percentage of the contingent claim amounts indicated below: Type of loan Credit Translation Factors (CTF) Immediately repayable unrestricted credit lines 10% Contingent loans linked to student loan (CAE) 15% Letters of credit for goods movement operations 20% Other unrestricted credit lines 40% Debt purchase commitments in local currencies abroad 50% Transactions related to contingent events 50% Guarantees and sureties 100% Other credit commitments 100% Other contingent loans 100% In the case of transactions with clients with non-performing loans, such exposure shall always equal 100% of their contingent loans. D. Collateral and credit enhancements Collateral is only considered in calculating provisions when they are legally established and when the conditions allowing their eventual activation or settlement in the Bank's favor are met. Collateral valuation (mortgages or pledges) reflects the net cash flow obtained from selling goods or equity instruments, or from capital minus estimated expenses in the event of a debtor's non- performance. For mortgages and pledges on goods, the Bank undertakes analyses that reflect the relationship between the prices obtained in an eventual settlement and their appraisal or foreclosure values. Nevertheless, the valuations of mortgages and other goods received are based on valuations carried out by independent professionals, while maintenance and transaction costs are based on historical data from at least 3 years prior. The Bank has the necessary collateral revaluation standards in place. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 37
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued Financial collateral, measured through fair value adjustments, may only be deducted from credit risk exposures when they are provided to secure the performance of the credits concerned. The adjusted fair value is obtained by applying the interest rate and currency volatility discount factors established by the FMC and subtracting settlement costs. Determining provisions in the case of leased assets considers the value obtained on the disposal of the leased assets, considering the impairment that these may present, and the expenses related to their redemption and liquidation or eventual relocation. Determining provisions for factoring loans considers that the counterparty is the assignor of the documents endorsed to the Bank when the factoring is with liability and the debtor when the assignment is without liability of the assignor. E. Additional provisions According to FMC regulation, banks can establish provisions over the already described limits to protect themselves from the risk of non-predictable economic fluctuations that could affect the macroeconomic environment or a specific economic sector. As set out in number 9 of Chapter B-1 of the CASB of the FMC, these provisions shall be reported on the liability side in the same way as provisions on contingent claims. F. Provisions related to financing with FOGAPE guarantee Covid-19 The FMC requested that specific provisions be determined for loans secured by the FOGAPE Covid-19 guarantee, for which the expected loss must be determined. This is done by estimating the risk of each transaction, dismissing the guarantor's credit quality substitution, and following the appropriate individual or group analysis method per the clauses of the CASB Chapter B-1. This calculation must be made on an aggregate basis, grouping all transactions to which the same deductible percentage is applicable. Hence, the total expected loss resulting from the aggregate calculation of each transaction group must be compared with the total deductible corresponding to them. When the expected loss of the transactions of a group with the same deductible percentage is determined to be equal to or less than the aggregate deductible, the provisions are set without considering the FOGAPE Covid-19 guarantee, that is, without replacing the creditworthiness of the direct debtor for that of the guarantor. When they surpass the aggregate deductible, the provisions shall be determined using the substitution method set out in the CASB paragraph 4.1(a) of Chapter B-1 and shall be recognized in accounts separate from commercial, consumer and residential mortgage provisions. G. Provisions established for credit risk as a result of supplementary prudential requirements This corresponds to the provisions for credit risk required by the Committee’s prudential instructions in relation to credit risk management assessments under Chapters 1-13 of the UCBR and that do not qualify as provisions established per the definitions in Chapter B-1 of the CASB. H. Distressed loans and suspension of accrual Distressed loans, in the case of individual assessment, is made up of the loans classified in the Impaired Portfolio plus categories B3 and B4 of the Substandard Portfolio. In the case of group assessment, it includes the credits of the Impaired Portfolio. The Bank ceases to recognize income on an accrual basis in the Interim Consolidated Statements of Income when the loan or one of its installments is 90 days overdue. From the date interest is suspended until they are no longer impaired, loans shall not be credited with interest, adjustments or fees in the Interim Consolidated Statements of Financial Position. No income from such loans shall be recognized in the Interim Consolidated Statements of Income unless effectively received. I. Charge-offs As a general rule, charge-offs should be applied when the contractual rights to the cash flows expire. The charge-offs in question refer to the derecognition in the Interim Consolidated Statements of Financial Position of the assets corresponding to the respective transaction, including that part which may not be overdue in the case of a loan payable in installments or a leasing transaction (there are no partial charge-offs). This includes overdue, past-due and current installments, with the term corresponding to the time elapsed since the date on which payment of all or part of the obligation is in delinquency. Charge-offs are always booked against the credit risk provisions set up under Chapter B-1 of the CASB, regardless of the reason for the write-off. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 38
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued Charge-offs should be carried out in the following circumstances, whichever occurs first: 1. Based on all available information, the Bank concludes that it will not obtain flows from the loans recorded as an asset. 2. When an unencumbered claim is 90 days old since it was registered as an asset. 3. Upon expiration of the statute of limitations for actions to claim collection through an enforceable judgment or at the time of the rejection or abandonment of the enforcement of the title by an enforceable court decision. 4. When the period of arrears of a transaction reaches the time limit for charge-offs set out below: Type of loan Term Consumer loans with or without collateral 6 months Other transactions without collateral 24 months Commercial loans with collateral 36 months Mortgage loans 48 months Consumer leasing 6 months Other non-mortgage leasing transactions 12 months Mortgage leasing (household and business) 36 months J. Recovery of loans previously written off and receivables from clients Subsequent payments on written-off transactions shall be recognized in the profit or loss statement as recoveries of charged-off loans. When a recovery is perceived in the form of an asset received in lieu of payment, the income is recognized as the amount by which they are incorporated into the asset under the provisions of the Chapter of the CASB regarding Assets Received or Awarded in Lieu of Payment. The same approach is followed if the leased goods are recovered after a leased transaction is written off when such goods are incorporated as an asset. 18. Impairment of financial assets other than loans and receivables and contingent loans The Bank applies IFRS 9 'Financial Instruments' to determine the impairment of financial assets measured at fair value through other comprehensive income and financial assets at amortized cost other than loans and contingent receivables. The estimate involves calculating the potential credit losses that could be observed on a financial instrument due to differences between the future cash flows under the original contract and the cash flows expected to be received, always ensuring at all times that the results obtained are appropriate to the reality of the transactions, the current economic environment and the available forward-looking information. This model uses a dual measurement approach in which the impairment provision is measured as follows: • Credit loss expected at 12 months: it represents expected credit losses arising from default events on a financial instrument that may arise within 12 months from the reporting date. • Lifetime expected credit loss: it represents the expected credit losses arising from default events over the expected life of a financial instrument. At each reporting date, an entity must measure the provision as equal to the 'lifetime expected credit loss' if the credit risk on that financial instrument has increased significantly since initial recognition. Otherwise, if the credit risk of a financial instrument has not increased significantly at the reporting date since initial recognition, an entity shall measure the loss allowance for that financial instrument at an amount equal to 'expected credit loss over the next 12 months'. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 39
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued When making such an assessment, an entity compares the default risk of a financial instrument at the reporting date with that of its initial recognition, as well as considering reasonable and tenable information made available without unnecessary cost or effort, indicating the growth of credit risk since its initial recognition (on a group or individual basis). Based on changes in credit quality, IFRS 9 describes a 'three-step' impairment model according to the following diagram: Change in credit quality since initial recognition Phase 1 Phase 2 Phase 3 Initial recognition Significant increase in credit risk since initial recognition Credit-impaired assets Credit loss expected in 12 months Lifetime credit loss Lifetime credit loss Reasonable and tenable information refers to information readily available at the reporting date without unreasonable cost or effort, including information about past events, current conditions and forecasts of future economic conditions. When contractual payments are overdue by 30 days or more, the Bank considers that the credit risk of a financial asset has increased significantly, but this is not the only indicator. Measurement of expected credit loss Expected credit loss estimates the weighted probability of credit losses over the financial instrument's expected life, that is, the present value of all cash shortfalls. The three components of the measurement of expected credit loss are: • PNP: The probability of default estimates the probability of non-performance over a given time frame. • LGD: Loss-given default estimates the loss that would occur in the event of a default at a given time. • EAD: Exposure at default is an estimate of the exposure at a future date of non-performance, considering expected exposure changes after the reporting date, including repayments of principal and interest, whether contractually scheduled or otherwise, and interest on defaults. The parameters used for the calculation of impairment provisions were developed based on the structure of the internal models used and take into account the experience acquired in the regulatory and management areas, as well as the stages in which each financial asset is classified, including forward-looking information, point-in-time (PIT) view, multiple scenarios, calculation of losses for the entire life of the operation through lifetime PNP, among others. Collateral and other credit enhancements are considered to measure expected credit loss. Determination of a significant increase in risk For the classification in phase 2, an assessment of whether there is a significant increase in credit risk (SICR) from the initial recognition of the transactions is undertaken. For this, a series of principles that ensure that all financial instruments are subject to this assessment is used, which considers the particularities of each portfolio and type of product based on various quantitative and qualitative indicators. All of this is subject to the expert judgment of analysts, who set the thresholds under appropriate management integration and implement it under the approved governance. The judgment and criteria used to establish thresholds are based on several principles. The principles are as follows: • Universal: all financial instruments with a credit rating must be assessed for their potential SICR. • Proportional: the definition of the SICR should consider each portfolio's particularities. • Materiality: its implementation should also be consistent with each portfolio's relevance to avoid unnecessary cost or effort. • Holistic view: the selected approach should combine the most relevant aspects of credit risk (i.e. quantitative and qualitative). • Application of IFRS 9: the approach should consider the features of IFRS 9, focusing on a comparison with credit risk at initial recognition and considering forward-looking information. • Risk management integration: criteria should be consistent with those metrics considered in day-to-day risk management. • Documentation: Appropriate documents must be prepared Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 40
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued To classify a financial instrument in phase 2, we consider the following criteria: • Quantitative criteria: changes in the risk of a default occurring over the expected life of the financial instrument are analyzed and quantified relative to its level of credit risk at inception. For this purpose, quantitative thresholds have been defined for the portfolios. These thresholds can be expressed as an absolute or relative increase in the probability of default. • Qualitative criteria: using expert judgment, we use various indicators aligned with those used in ordinary credit risk management (defaults over 30 days, refinancing, etc.). • Definition of default: this definition entails the application of various criteria to classify exposures as phase 3, including transactions in default for 90 consecutive days or identifying other criteria that demonstrate that the counterparty can meet all of its financial obligations. • Expected life of the financial instrument: we estimate the expected life of a financial instrument considering all contractual terms (e.g. prepayments, duration, repurchase agreements, etc.). Recognition of expected credit loss An entity shall recognize in its financial results a gain or loss caused by value impairment as the amount of the expected credit loss (or releases) by which the value is adjusted given the losses that have occurred by the reporting date to capture the amount that requires recognition accurately. For assets measured at fair value through other comprehensive income, the book value of the instruments is understood as the fair value. Therefore, the recognition of impairment does not affect the carrying amount of such instruments and is reflected as a movement between other comprehensive income (a deduction from fair value) and results at each reporting date. In the case of assets measured at amortized cost, impairment is presented through a complementary account that reduces the asset's value. 19. Impairment of non-financial assets The Bank's non-financial assets are reviewed at each reporting date of the Interim Consolidated Financial Statements for indications of impairment (i.e., when the carrying amount exceeds the recoverable amount). If such indications exist, the asset's recoverable amount is estimated to determine the extent of the impairment loss. The recoverable amount is the higher of fair values minus disposal costs and value in use. In assessing value in use, estimates of cash inflows or outflows shall be discounted to present value using the pre-tax discount rate that reflects the current market assessment of the time value of money and the specific risks for which estimates of future cash flows have not been adjusted. If the recoverable amount of an asset is estimated to be lower than its carrying amount, the carrying amount is reduced to the recoverable amount. The impairment loss is recognized immediately in profit or loss. In relation to other assets, impairment losses recognized in prior periods are evaluated at each reporting date for any indication that the loss has decreased and should be reversed. The increase in the carrying value of an asset other than goodwill attributed to a reversal of the impairment loss will not exceed the carrying amount that could have been obtained (net of amortization or depreciation) if an impairment loss had not been recognized for said asset in previous periods. The impairment loss recognized in goodwill will not be reversed. 20. Provisions, contingent assets and liabilities Provisions are liabilities whose amount or maturity are uncertain. These provisions are recognized in the Interim Consolidated Statements of Financial Position when all the following requirements are met: i. It is a current obligation (legal or constructive) as a result of past events and, ii. as of the publication date of the financial statements, the Bank will probably have to expend resources to settle the obligation and; iii. the amount of these resources can be reliably measured. Contingent assets or contingent liabilities encompass all potential rights or obligations arising from past events. These are only confirmed if one or more uncertain future events occurs, which are not within the Bank's control. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 41
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued The Interim Consolidated Financial Statements reflect all significant provisions for which the probability of meeting the obligation is estimated to be more likely than not. Provisions are quantified using the best available information regarding the consequences of the event giving rise to them and are reviewed and adjusted at the end of the accounting period. Provisions are used when the liabilities for which they were originally recognized are settled. Partial or total reversals are recognized when such liabilities cease to exist or are reduced. Provisions are classified according to the obligation covered as follows: • Provisions for employee benefit obligations. • Provisions for lawsuits and litigations. • Provisions for operational risk. • Provisions for mandatory dividends. • Provisions for contingent loan risks. • Provisions for contingencies. 21. Income tax and deferred taxes The Bank recognizes, where appropriate, deferred tax assets and liabilities for the estimated future tax effects attributable to differences between the carrying amounts of assets, liabilities and their tax bases. Deferred tax assets and liabilities are calculated using the tax rate applied in the year the deferred tax assets and liabilities are realized or settled according to current tax legislation. The future effects of tax legislation or tax rate changes are recognized in deferred taxes from when the law approving such changes is published. Current tax assets relate to provisional payments in excess of the provision for income tax or other income tax credits, such as training expenses or donations to universities. In addition, the monthly provision payments to be recovered for profits absorbed by tax losses should be included. In the case of liabilities, they correspond to the provision for income tax calculated based on the tax results for the period, minus the mandatory or voluntary provisional payments and other credits applied to this obligation. For presentation in the Interim Consolidated Statements of Financial Position, in accordance with IAS12, the tax position at the tax entity level should be offset, as appropriate, and subsequently, the net balances per tax entity should be added at the consolidated level. 22. Employee benefits i. Post-employment benefits – Defined Benefit Plan: According to the current collective labor covenant and other agreements, Banco Santander-Chile has an additional benefit available for its main executives, consisting of a pension plan, aiming for them to have the necessary funds for a supplementary pension upon retirement. Plan Features: The main features of the Post-Employment Benefits Plan promoted by the Banco Santander-Chile are: i. Aimed at the Bank's upper management. ii. The general requirement is that the beneficiary must still hold their position within the Bank by the time they turn 60 years old. iii. The Bank will contract a mixed collective insurance policy (life and savings) for each executive, with the contracting party and beneficiary being the Group company to which the executive belongs. Periodic contributions will equal the amount each manager commits to their voluntary contribution plan. iv. The Bank will be responsible for granting the benefits directly. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 42
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued To determine the present value of the defined benefit obligation and the current service cost, the projected unit credit method is used. The components of defined benefit cost include: • Current and past service costs are recognized in profit or loss for the period. • Net interest over the net defined benefit liability (asset), recognized in profit or loss for the period. • The new net defined benefit liability (asset) measurements include: (a) actuarial gains and losses; (b) the performance of the plan's assets, and (c) changes in the effect of the asset ceiling, which are recognized in other comprehensive income. The net defined benefit liability (assets) is the deficit or surplus, calculated as the difference between the defined benefit obligation's present value minus the plan assets' fair value. The plan assets comprise the insurance policies contracted by the Bank through an unrelated third party. These assets are held by an entity legally separated from the Bank and exist solely to pay employees their benefits. The Bank recognizes the present service cost and the net interest in the item 'Personnel wages and expenses' in the Interim Consolidated Statements of Income. The plan's structure does not generate actuarial gains or losses. The plan's performance is established and fixed during the period; consequently, there are no changes to the asset's ceiling. Accordingly, there are no amounts recognized in other comprehensive income. The post-employment benefits obligation recognized in the Interim Consolidated Statements of Financial Position, represents the deficit or surplus in the defined benefit plans of the Bank. Any surplus resulting from the calculation is limited to the present value of any economic benefits available regarding the plan's reimbursements or reductions to future contributions. When employees abandon the plan before meeting the requirements to become eligible for the benefit, the Bank's contributions decrease. ii. Severance payments: Severance payments for years of employment are recorded only when they effectively occur or upon the availability of a formal and detailed plan in which the fundamental modifications to be made are identified, provided that such plan has already started to be implemented, its principal features have been publicly announced, or objective facts about its activation are known. iii. Cash-settled share-based payments The Bank allocates cash-settled share-based payments to certain executives of the Bank and its Subsidiaries under IFRS 2: Share- based payments. Accordingly, the Bank measures the services received and the obligation incurred at fair value. Until the obligation is settled, the Bank calculates the fair value at the end of each reporting period and at the date of settlement, recognizing any change to fair value in the income statement for the period. 23. Use of Estimates Preparing the Interim Consolidated Financial Statements requires the Bank's Management to make estimates and assumptions that affect the application of the accounting standards and the reported values of assets, liabilities, revenues and expenses. Accordingly, actual results may differ from these estimates. In certain cases, the generally accepted accounting standards require that assets or liabilities be recorded or disclosed at their fair value. The fair value is the price received to sell an asset or paid to transfer a liability in an orderly transaction between informed market participants at the measurement date. When available, quoted market prices in active markets have been used for measurement. When the trade prices of an active market are not available, the Bank estimates such values based on the best information available, including internal modelling and other valuation techniques. The Bank has established provisions to cover potential credit loss per the regulations issued by the FMC. These allowances must be regularly reviewed, considering factors such as changes in the nature and volume of the loan portfolio, trends in forecasted portfolio quality, credit quality, and economic conditions that may adversely affect the borrowers' ability to pay. Increases in the allowances for loan loss are reflected as 'Provisions for loan loss' in the Interim Consolidated Statements of Income. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 43
NOTE 02 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued Loans are written off when the contractual rights for the cash flows expire. Nevertheless, the Bank will charge off per Title II of Chapter B-2 of the CASB issued by the FMC for loans and accounts receivable from clients. Charge-offs are recorded as a reduction of credit risk provisions. The Bank's Management regularly reviews the relevant estimates and assumptions to calculate provisions quantifying certain assets, liabilities, revenues, expenses, and commitments. Revised accounting estimates are recorded in the period the estimate is revised and in any future period affected. These estimates are based on the best available information and mainly refer to the following: • Allowances for loan loss (Notes N° 13 and 41). • Impairment loss on certain assets (Notes N°11, 13, 15, 16, 17, 39 and 40). • The useful lives of tangible and intangible assets (Notes N° 15, 16 and 17). • The fair value of assets and liabilities (Notes N° 8, 11, 12, 21 and 44). • Commitments and contingencies (Note N° 29). • Current and deferred taxes (Note N°18). 24. Earnings per share Basic earnings per share are calculated by dividing the net income attributable to the equity holders of the Bank by the weighted average number of shares outstanding during the reported period. Diluted earnings per share are calculated similarly to basic earnings, but the weighted average number of outstanding shares is adjusted to consider the potential diluting effect of stock options, warrants, and convertible debt. As of As of March 31, 2026, and 2025, and as of December 31, 2025, the Bank did not hold any instruments that have a dilutive effect on equity. 25. Temporary acquisition (assignment) of assets Purchases (sales) of financial assets under non-optional repurchase agreements at a fixed price (repos) are recorded in the Interim Consolidated Statements of Financial Position as a financial assignment (receipt) based on the nature of the debtor (creditor) under 'Deposits in the Central Bank of Chile', 'Deposits in financial institutions' or 'Loans and receivables from customers' ('Deposits from Central Bank of Chile', 'Deposits from financial institutions' or 'Deposits'). The difference between the purchase and sale prices is recorded as financial interest over the contract's life. 26. Assets and investment funds managed by the Bank The assets managed by the different companies that form part of the Bank's consolidation perimeter (Santander S.A. Sociedad Securitizadora) that are owned by third parties are not included in the Interim Consolidated Statements of Financial Position. The commissions generated by this activity are included in the balance of 'Fee and commission income' in the Interim Consolidated Statements of Income. 27. Provision for mandatory dividends The Bank recognizes a liability (provision) for minimum or mandatory dividends based on the provisions of Article 79 of the Chilean Corporations Law (Ley de Sociedades Anónimas), consistent with the Bank’s internal dividend policy, which stipulates that at least 30% of net income for the year shall be distributed, unless otherwise agreed at the respective Shareholders’ Meeting by the unanimous vote of the issued shares. For 2026 and 2025, the percentage used for the minimum dividend provision is 60%. This provision is recorded as a reduction of “Retained earnings” under the caption “Provision for dividends, interest payments and revaluation of equity financial instruments” within the Interim Consolidated Statements of Changes in Equity. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 44
NOTE 03 - NEW ACCOUNTING PRONOUNCEMENTS ISSUED AND ADOPTED OR ISSUED AND NOT YET ADOPTED 1. Pronouncements issued and adopted As of the date these Interim Consolidated Financial Statements were published, the new accounting pronouncements issued by both the FMC and the International Accounting Standards Board, which the Bank has fully adopted, are set out below: a. Accounting Standards issued by the Financial Markets Commission. There are no new FMC regulations applicable to these Interim Consolidated Financial Statements. b. Accounting Standards Issued by the International Accounting Standards Board. Amendment to IFRS9 and IFRS7 - amendment to the Classification and Measurement of Financial Instruments. The modifications are: Amendments to IFRS 9 – Classification of Financial Assets: - Financial assets with ESG and similar features: Financial assets with contingent events may pass the SPPI Test if their cash flows are SPPI both before and after the contingent event, and the cash flows do not differ significantly from those of a similar asset without such a contingent event. - Derecognition of financial liabilities settled through electronic transfer: An accounting policy option is allowed to derecognize such liabilities before the settlement date if certain conditions are met. If this option is chosen, it must be applied to all agreements settled through the same electronic payment system. Amendments to IFRS 7: - Investments in equity instruments designated at fair value through OCI: Entities must disclose the fair value result presented in OCI during the period, distinguishing the result from changes in fair value from the result due to derecognition. - Contractual terms that may change the timing or amount of contractual cash flows: Disclosure is required for contractual terms that may modify the timing or amount of cash flows upon the occurrence (or non-occurrence) of a contingent event that is not directly related to changes in basic lending risks or costs. This applies to assets measured at amortized cost or fair value through OCI and to financial liabilities measured at amortized cost. These amendments are effective for annual periods beginning on or after January 1, 2026. Early application is permitted. The Bank has determined that there are no significant impacts related to the adoption of this standard. Annual Improvements to IFRS – Volume 11. This standard, issued on July 18, 2024, by the International Accounting Standards Board (IASB), addresses minor but necessary non-urgent amendments to the following five Standards: IFRS 1 – First-time Adoption of International Financial Reporting Standards IFRS 7 – Financial Instruments: Disclosures IFRS 9 – Financial Instruments IFRS 10 – Consolidated Financial Statements IAS 7 – Statement of Cash Flows The published amendments will be effective for annual periods beginning on or after January 1, 2026, with early application permitted. The Bank has determined that there are no significant impacts related to the adoption of this standard. IFRS 9 and IFRS 7 – Renewable Energy Power Purchase Agreements. Issued on December 18, 2024, the amendments include: •Amendments to IFRS 9 – Financial Instruments: - The own-use requirements in IFRS 9 have been modified to include factors that an entity must consider when applying the scope of IFRS 9 (paragraph 2.4) to renewable energy power purchase agreements, for both the purchase and receipt of renewable electricity. - The hedge accounting requirements have also been amended to allow an entity to use a renewable electricity contract as a hedging instrument by designating a variable volume of forecast electricity transactions as the hedged item, provided specified criteria are met, and measuring the hedged item using the same volume assumptions as those used for the hedging instrument. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 45
NOTE 03 - NEW ACCOUNTING PRONOUNCEMENTS ISSUED AND ADOPTED OR ISSUED AND NOT YET ADOPTED, continued • Amendments to IFRS 7 – Financial Instruments: Disclosures: - Specific qualitative and quantitative disclosure requirements are introduced for electricity contracts, depending on their nature and specified characteristics. The published amendments will be effective for annual reporting periods beginning on or after January 1, 2026, with early application permitted. The Bank has determined that there are no impacts arising from this standard. 2. Issued pronouncements which have not yet been adopted As of the reporting date of these Interim Consolidated Financial Statements, new International Financial Reporting Standards had been published, as well as their interpretation and the FMC standards, which were not mandatory as of March 31, 2026. Accordingly, while the IASB permits an early application in some cases, the Bank has not undertaken its application by such date. a. Accounting Standards issued by the Financial Markets Commission NCG No. 537 – Amends Chapter 8-41 of the Updated Compilation of Bank Regulations (UCBR) and Circular No. 1 for Non-Bank Card Issuers regarding the determination of a formula for calculating the minimum payment amount on credit cards, and the exceptional situations in which debtors will be released from this obligation. On June 4, 2025, the FMC issued this amendment, aimed at including a formula for calculating the minimum payment amount on credit cards. NCG No. 537 amends Chapter 8-41 of the UCBR and Circular No. 1 for Non-Bank Issuers. The amendment to Chapter 8-41 of the UCBR includes a new section 5, “Special rules on credit cards”, which establishes a formula and the variables to be considered in calculating the minimum amount that borrowers of money credit operations —originating from the use of credit cards through a revolving or consolidated credit line— must pay monthly to avoid delinquency. The minimum payment is the lowest amount the cardholder must pay each month to remain current. The mathematical formula consists of a percentage of the total billed amount, which requires defining the “non-financeable amount” (NFA) and the “financeable amount” (FM), where: Minimum Payment ≥ (100% × NFA) + (5% × FA) This regulation came into force on June 4, 2025 with gradual application starting 12 months after its publication, following the mathematical expression for calculation set out in NCG No. 537. The Bank has been working on implementing this regulatory change, and it is expected to complete its implementation within the established deadlines. b. Accounting Standards issued by the International Accounting Standards Board. IFRS 18 – Presentation and Disclosures in Financial Statements. On April 9, 2024, the IASB issued IFRS 18, which replaces IAS 1: Presentation of Financial Statements. IFRS 18 introduces three sets of new requirements aimed at improving the information on financial performance and providing a better basis for analyzing and comparing companies: • Improved comparability of the statement of profit or loss • Greater transparency of management-defined performance measures • More useful aggregation of information in the financial statements IFRS 18 becomes effective for annual reporting periods beginning on or after January 1, 2027, with early application permitted. The Bank is in the process of analyzing this standard. IFRS 19 Non-Publicly Accountable Subsidiaries: Information to be disclosed. This regulation specifies the disclosure requirements that would apply to subsidiaries that are not obligated to publish financial accounts, but whose parent produces publicly available consolidated financial statements that comply with IFRS Standards. On August 19, 2025, an amendment was issued allowing subsidiaries that do not have public accountability to apply IFRS standards with reduced disclosure requirements, waiving most of the disclosure obligations under other IFRS standards. These amendments enable eligible subsidiaries to reduce their disclosure requirements. This modification is aligned with the effective date. With these updates, IFRS 19 is now aligned to cover information requirements through January 1, 2027, the date on which it will become fully effective. This rule is applicable for periods beginning on or after January 1, 2027, with early application allowed. The Bank is in the process of analyzing this regulation. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 46
NOTE 04 - ACCOUNTING CHANGES As of the date these Interim Consolidated Financial Statements were issued, there were no accounting changes to disclose. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 47
NOTE 05 - SIGNIFICANT EVENTS As of March 31, 2026, the following events have been recorded that in the opinion of the Bank's management are relevant and that have influenced the Bank's operations in the Interim Consolidated Financial Statements. Board of Directors On March 24, 2026, at an ordinary meeting of the Board of Directors, the Board agreed to convene an Ordinary Shareholders' Meeting for April 28, 2026 , in order to propose a distribution of profits and payment of dividend of 60% of the accumulated profits as of December 31, 2025, equivalent to Ch$3.35334632 per share and to propose that the remaining 40% of the profits to be used to increase reserves and/or retained earnings. Furthermore, an Extraordinary Shareholders' Meeting is scheduled for April 28, 2026, immediately following the ordinary meeting, to address the adjustment of the Bank's statutes to the regulations on gender parity and to eliminate the position of second vice- president of the Board of Directors, primarily. Additionally, at the aforementioned meeting, the resignation of the principal director and president of the Board of Directors of the Bank, Mr. Claudio Melandri Hinojosa, was acknowledged, and Mr. Rodrigo Vergara Montes was appointed as the new president, who immediately assumed the position, while the position of principal director remains vacant until the election of the Board of Directors to be held on the date established above. Subsidiaries On January 27, 2026, at the Extraordinary Shareholders’ Meeting of Banco Santander-Chile, it was agreed to accept the offer and conditions proposed by Getnet Payments, S.L. to Banco Santander-Chile and Santander Asesorías Financieras Limitada S.A. for the acquisition of 49.99% of the shares of the subsidiary Sociedad Operadora de Tarjetas de Pago Santander Getnet Chile S.A. On February 2, 2026, Banco Santander Chile and Santander Asesorías Financieras Limitada executed the purchase and sale agreement through which they sold 49.98% and 0.01%, respectively, of the shares of Sociedad Operadora de Tarjetas de Pago Santander Getnet Chile S.A. to Getnet Payments S.L. As a result of this transaction, Banco Santander Chile retained control of Sociedad Operadora de Tarjetas de Pago Santander Getnet Chile S.A., maintaining ownership of 50.01% of the shares. The sale price amounted to Ch$68,000 million, generating a net effect on equity attributable to the Bank’s owners of Ch$26,107 million. Bond Issuances On January 8, 2026, with settlement on January 15, 2026, the Bank issued a U.S. dollar-denominated bond for an amount of USD 500,000,000, maturing on November 20, 2030, with a coupon rate of 4.55% and an issuance yield of 4.558%, equivalent to a spread of 82 basis points over the 5-year U.S. Treasury bond. The bond was placed pursuant to Rule 144A and Regulation S under the United States Securities Act. During 2026, the Bank registered senior bonds with the FMC for USD 20,000,000 and UF 3,879,000. Details of the issuances carried out during the year are included in Note No. 22. Additional provisions At the Board meeting held on January 27, 2026, the release of additional provisions related to the commercial loan portfolio amounting to Ch$18,000 million was approved. At the Board meeting held on March 24, 2026, the release of additional provisions related to the commercial and mortgage loan portfolios amounting to Ch$4,000 million and Ch$1,000 million, respectively, was approved. Basel III In January 2026, the FMC reported that, as a result of the supervisory review process evaluating the business models of each banking institution, its Board resolved, in the case of Banco Santander, to maintain the capital charge already in place since June 2025 of 0.13%, representing a decrease from the previous requirement of 0.25%. On March 30, 2026, the FMC announced that its Board approved the annual designation of domestic systemically important banks (D-SIBs) in Chile and the corresponding additional requirements, in accordance with the General Banking Law and Chapter 21-11 of the UCBR. Applying the established methodology, with the prior favorable agreement of the Central Bank of Chile, the same institutions as in the previous period retained their systemic designation. The FMC agreed to maintain the additional CET1 capital requirement equivalent to 1.5% of risk-weighted assets for Banco Santander-Chile. In consideration of the applicable phase-in schedule, the additional CET1 capital requirement arising from this concept must be fully constituted by December 2026. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 48
NOTE 06 - REPORTING SEGMENTS The Bank manages and measures the performance of its operations by business segments. Segment information is based on the internal management reporting system according to the segments established by the Bank. Transactions between segments are conducted under normal commercial terms and conditions. The assets, liabilities and results of each segment include items directly attributable to the relevant segment, as well as those that can be allocated on a reasonable basis. A business segment comprises customers to whom a differentiated product offering is directed, but who are homogeneous in terms of performance and whose results are measured on a similar basis. As of March 31, 2026, the Bank modified the identification of its operating segments in order to reflect changes in its internal management structure and in the manner in which the chief operating decision maker (“CODM”) evaluates performance and allocates resources. Accordingly, comparative information has been restated for consistency with the presentation of the current period. Management believes that this new presentation provides more relevant information to users of the financial statements. In order to achieve the strategic objectives established by senior management and adapt to changing market conditions, the Bank periodically makes adjustments to its organizational structure. These changes, in turn, impact to a greater or lesser extent the manner in which the Bank is managed and administered. Accordingly, this disclosure provides information on how the Bank is managed as of March 31, 2026. The Bank is composed of the following business segments: Retail & Commercial Banking Retail Retail represents the Bank’s largest business line and focuses on individuals (retail customers) and SMEs. It includes individual customers from the high-, middle- and lower-income segments, as well as SMEs, small businesses and merchants (with annual net sales of up to approximately Ch$4 billion). These segments are offered a broad range of products and services, including consumer loans, credit cards, mortgage loans, debit cards, checking accounts, savings products (mutual funds, brokerage services and time deposits) and insurance products. In addition, SME customers are offered government-guaranteed loans, leasing and factoring products. The vast majority of these customers are served through the Bank’s branch network. Commercial Commercial includes legal entity customers corresponding to medium-sized companies (with annual sales above approximately Ch$4 billion), as well as large corporations, real estate companies and institutions. This business area focuses on financing customers’ economic activities through sophisticated services such as Cash Management, Trade Finance and Financial Advisory services, among others, offering a wide range of products including commercial loans in local and foreign currency, foreign trade financing, leasing, factoring, confirming services and corporate credit lines, among others. Wealth Management & Insurance This segment comprises the Investment, Insurance and Private Banking businesses, while also coordinating the distribution of the various investment products and services across the other Santander Group divisions in Chile. Santander Insurance offers both personal and corporate protection products, including health, life, travel, savings, personal protection, automobile and unemployment insurance, among others. The Private Banking business, Santander Private Bank, serves high-net-worth clients and offers transactional products and services (loans, credit cards, foreign trade services and securities brokerage services), as well as value-added services such as international investment accounts, structured funds, alternative investment funds, wealth management and open-architecture investment solutions. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 49
NOTE 06 - REPORTING SEGMENTS, continued Corporate & Investment Banking (CIB) This segment offers a broad range of products, including commercial loans, leasing, factoring, foreign trade financing, credit cards, checking accounts, transactional services, treasury services, financial advisory services, investment banking, savings products, mutual funds and insurance products for corporate clients and large financial institutions. This business also includes the Treasury Division, which provides sophisticated financial products primarily to wholesale banking and corporate banking clients. These products include short-term funding and deposit products, brokerage services, derivatives and other tailor-made products designed to meet customers’ needs. The Treasury area also manages position intermediation activities, as well as the Bank’s proprietary investment portfolio. Payments Payments groups together digital payment solutions focused on merchant acquiring and transaction services through point-of-sale (“PoS”) terminals. It provides global technological solutions for Banco Santander Chile and new clients in the open market. The principal local business included in this segment is Getnet. Digital Consumer Bank Digital Consumer Bank includes all consumer financing activities related to automotive and fleet financing. The principal business within this segment is the subsidiary Santander Consumer Finance. The accounting policies of the segments are the same as those described in the summary of significant accounting policies and have been tailored to satisfy the Bank’s management reporting needs. The Bank derives most of its revenues from net interest income, fee and commission income and results from financial transactions. The chief operating decision maker for each segment primarily uses net interest income, fee and commission income and provision expense to evaluate segment performance and make decisions regarding the allocation of resources to each segment. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 50
NOTE 06 - REPORTING SEGMENTS, continued The tables below show the Bank's balances by business segment as of March 31, 2026, and 2025: As of March 31, 2026 Loans and receivables from clients (1) Demand and time deposits (2) Net interest and readjustment income Net fee income Net financial result (3) Provisions Support Expenses (4) Other op.income and expenses (5) Net income before taxes Income tax Net income Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Segments Retail&Commercial 36,679,588 20,021,270 390,076 108,361 30,457 (156,612) (169,576) (5,301) 197,405 (18,385) 179,020 Retail 27,044,593 12,689,888 297,985 88,254 15,550 (88,980) (140,933) (6,823) 165,053 (15,372) 149,681 Commercial 9,634,995 7,331,382 92,091 20,107 14,907 (67,632) (28,643) 1,522 32,352 (3,013) 29,339 Wealth Management & Insurance 973,548 3,068,954 14,693 8,214 921 546 (8,529) (536) 15,309 (4,134) 11,175 Corporate and Investment Banking 2,131,154 7,903,729 53,475 12,528 54,617 5,950 (27,632) (1,122) 97,816 (26,410) 71,406 Payments - - 159 22,687 (737) - (11,503) 1,474 12,080 (3,262) 8,818 Digital Consumer Bank 1,113,837 - 31,124 3,142 - (8,661) (7,898) (3,931) 13,776 (3,718) 10,058 Totals 40,898,127 30,993,953 489,527 154,932 85,258 (158,777) (225,138) (9,416) 336,386 (55,909) 280,477 (1) Loans receivable from clients at amortized cost plus the balance owed by banks, without deducting their respective provisions (2) Includes deposits, demand liabilities, and other time deposits. (3) Includes the sum of net income (loss) from financial operations and net foreign exchange gain (loss). (4) Includes the sum of personnel salaries and expenses, administrative expenses, depreciation and amortization. (5) Corresponds to the sum of other operating income and expenses, the result of non-current assets and groups that can be disposed of for sale not eligible as discontinued operations and profit or loss on investments in companies. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 51
NOTE 06 - REPORTING SEGMENTS, continued As of December 31, 2025 As of March 31, 2025 Loans and receivables from clients (1) Demand and time deposits (2) Net interest and readjustment income Net fee income Net gains on financial transacti ons (3) Provisions Support Expenses (4) Other op.income and expenses (5) Net income before taxes Income tax Net income Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Segments Retail &Commercial 36,788,126 20,078,285 419,052 102,099 28,416 (135,423) (190,897) (14,167) 209,080 (19,593) 189,487 Retail 26,135,083 11,886,546 284,312 78,653 11,540 (163,954) (153,976) (8,568) 48,007 (4,499) 43,508 Commercial 10,653,043 8,191,739 134,740 23,446 16,876 28,531 (36,921) (5,599) 161,073 (15,094) 145,979 Wealth Management & Insurance 924,691 3,177,990 16,085 7,020 933 (3,503) (8,114) 160 12,581 (3,397) 9,184 Corporate and Investment Banking 2,139,201 7,313,098 50,469 12,928 42,520 7,312 (23,335) (55) 89,839 (23,588) 66,251 Payments - - 309 24,351 (656) - (10,143) (287) 13,574 (3,665) 9,909 Digital Consumer Bank 1,080,862 - 27,719 1,853 3 (7,887) (7,636) (4,592) 9,460 (2,554) 6,906 Totals 40,932,880 30,569,373 513,634 148,251 71,216 (139,501) (240,125) (18,941) 334,534 (52,797) 281,737 (1) Loans receivable from clients at amortized cost plus the balance owed by banks, without deducting their respective provisions (2) Includes deposits, demand liabilities, and other time deposits. (3) Includes the sum of net income (loss) from financial operations and net foreign exchange gain (loss). (4) Includes the sum of personnel salaries and expenses, administrative expenses, depreciation and amortization. (5) Corresponds to the sum of other operating income and expenses, the result of non-current assets and groups that can be disposed of for sale not eligible as discontinued operations and profit or loss on investments in companies. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 52
NOTE 07 - CASH AND CASH EQUIVALENTS 1. The details of the balances included under cash and deposits in banks is as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Cash and deposits in banks Cash 1,167,412 1,208,860 Deposits in the Central Bank of Chile 368,632 563,886 Deposits in foreign central banks - - Deposits in domestic banks 4,571 2,482 Deposits foreign banks 336,329 200,416 Subtotal cash and deposits with banks 1,876,944 1,975,644 Cash items in collection process 116,122 117,417 Other cash equivalents - - Total cash and cash equivalents 1,993,066 2,093,061 The level of funds in cash and at the Central Bank of Chile complies with regulations regarding reserve requirements and technical reserves that the Bank must maintain as an average over monthly periods, although these funds are immediately available. 2. Operations in the process of settlement Cash items in the collection process are transactions in which only the settlement— that will increase or decrease the funds at the Central Bank or abroad – is pending. This process usually happens within the next 24 to 48 working hours following the transaction. These operations are presented as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Assets Documents held by other banks (document to be cleared) 79,049 96,821 Funds to be received 1,849,283 1,088,812 Subtotal 1,928,332 1,185,633 Liabilities Funds to be paid 1,812,210 1,068,216 Subtotal 1,812,210 1,068,216 Cash items in collection process 116,122 117,417 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 53
NOTE 08 - FINANCIAL ASSETS HELD FOR TRADING AT FAIR VALUE THROUGH PROFIT OR LOSS As of March 31, 2026 and December 31, 2025, the Bank holds the following portfolio of financial assets held for trading at fair value through profit or loss: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Financial derivatives contracts Forwards 1,947,284 2,055,569 Swaps 8,967,047 8,822,187 Call options 3,054 1,039 Put options 308 982 Futures - - Other - - Subtotal 10,917,693 10,879,777 Debt financial instruments Chilean Central Bank and Government instruments 548,137 714,628 Other Chilean debt financial instruments - - Foreign debt financial instruments - - Subtotal 548,137 714,628 Other financial instruments Mutual Fund Investments - - Equity instruments - - Loans originated and purchased by the entity - - Other - - Subtotal - - Total 11,465,830 11,594,405 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 54
NOTE 08 - FINANCIAL ASSETS HELD FOR TRADING AT FAIR VALUE THROUGH PROFIT OR LOSS, continued Details of financial derivative contracts as of March 31, 2026, and December 31, 2025, are as follows As of March 31, 2026 Notional On demand Up to 1 month Between 1 month and 3 months Between 3 months and 1 year Between 1 year and 3 years Between 3 years and 5 years More than 5 years Total Fair value Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Financial derivatives contracts Currency forwards - 21,610,272 19,557,568 32,998,807 6,915,849 1,005,821 1,353,711 83,442,028 1,947,284 Interest rate swaps - 13,667,508 19,145,229 28,216,861 28,355,920 21,611,016 33,492,282 144,488,816 1,594,367 Currency and interest rate swaps - 1,612,563 4,924,638 13,963,794 21,427,288 16,668,112 25,652,432 84,248,827 7,372,680 Currency call options - 46,681 39,372 56,112 - - - 142,165 3,054 Call interest rate options - - - - - - - - - Put currency options - 12,307 10,688 28,473 - - - 51,468 308 Put interest rate options - - - - - - - - - Interest rate futures - - - - - - - - - Other derivatives - - - - - - - - - Total - 36,949,331 43,677,495 75,264,047 56,699,057 39,284,949 60,498,425 312,373,304 10,917,693 As of December 31, 2025 Notional On demand Up to 1 month Between 1 month and 3 months Between 3 months and 1 year Between 1 year and 3 years Between 3 years and 5 years More than 5 years Total Fair value Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Financial derivatives contracts Currency forwards - 25,231,549 17,959,495 27,913,502 6,971,335 2,517,760 1,663,646 82,257,287 2,055,569 Interest rate swaps - 13,947,595 29,006,667 30,995,890 20,723,603 16,894,592 31,276,092 142,844,439 1,332,806 Currency and interest rate swaps - 1,434,261 5,123,374 13,944,592 20,763,957 15,684,701 24,426,683 81,377,568 7,489,381 Currency call options - 22,061 23,401 56,923 - - - 102,385 1,039 Call interest rate options - - - - - - - - - Put currency options - 39,178 3,415 5,239 - - - 47,832 982 Put interest rate options - - - - - - - - - Interest rate futures - - - - - - - - - Other derivatives - - - - - - - - - Total - 40,674,644 52,116,352 72,916,146 48,458,895 35,097,053 57,366,421 306,629,511 10,879,777 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 55
NOTE 09 - FINANCIAL ASSETS NOT FOR TRADING MANDATORILY AT FAIR VALUE THROUGH PROFIT OR LOSS The Bank has no assets classified in this category. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 56
NOTE 10 - FINANCIAL ASSETS AND LIABILITIES DESIGNATED AT FAIR VALUE THROUGH PROFIT OR LOSS The Bank has no assets classified in this category. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 57
NOTE 11 - FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME Financial assets at fair value through other comprehensive income correspond to: Financial assets at fair value through other comprehensive income As of March 31, As of December 31, 2026 2025 Debt financial instruments Ch$mn Ch$mn Chilean Central Bank and Government financial instruments Chilean Central Bank financial instruments 13,817 - Chilean Treasury bonds and notes 2,878,790 2,825,238 Other Chilean government financial instruments - - Subtotal 2,892,607 2,825,238 Under repurchase agreement 1,680,856 397,334 Other Chilean debt financial instruments Other Chilean bank financial instruments 3,131 3,484 Chilean companies bonds and commercial papers - - Other Chilean financial instruments - - Subtotal 3,131 3,484 Under repurchase agreement - - Foreign debt financial instruments Foreign Central Banks financial instruments - - Foreign debt financial instruments of governments and fiscal entities 606,706 769,644 Foreign debt financial instruments from other banks - - Foreign companies bonds and commercial papers - - Other foreign debt financial instruments - - Subtotal 606,706 769,644 Under repurchase agreement - - Other financial instruments Loans originated and purchased by the entity Interbank loans - - Commercial loans 81,693 90,354 Mortgage loans 288,940 201,232 Consumer loans - - Other - - Subtotal 370,633 291,586 TOTAL 3,873,077 3,889,952 In debt financial instruments, the category "Instruments of the Chilean Central Bank and Government" includes instruments that are held to guarantee margins for derivative operations through Comder Contraparte Central S.A., amounting to Ch$386,380 million and Ch$223,000 million as of March 31, 2026, and December 31, 2025, respectively. In debt financial instruments, the category "Foreign debt financial instruments" includes instruments that are held to guarantee margins for derivative operations through the London Clearing House (LCH), amounting to Ch$417,488 million and Ch$405,311 million as of March 31, 2026, and December 31, 2025, respectively. Additionally, to comply with the initial margin requirements specified by the European Market Infrastructure Regulation (EMIR), collateral instruments are held with Euroclear, amounting to Ch$512,582 million and Ch$497,631 million as of March 31, 2026, and December 31, 2025, respectively. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 58
NOTE 11 - FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME, continued The credit risk provisions associated with debt instruments, commercial loans and residential mortgage loans as of March 31, 2026, and December 31, 2025, are: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Debts financial instruments 622 636 Commercial loans 4,438 4,487 Mortgage loans 372 176 As of March 31, 2026, and December 31, 2025, fair value changes from debt financial instruments and commercial loans are considered as Other Accumulated Comprehensive Income for: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Unrealized profit (loss) (81,255) (77,905) Attributable to equity holders (83,687) (80,320) Attributable to non-controlling interest 2,432 2,415 Debt financial instruments generated the following gross realized gains and losses on the sale of instruments: As of March 31, 2026 2025 MM$ MM$ Sale of debt financial instruments at FVOCI generating realized profits 95,521 1,211,807 Realized profits - 333 Sale of debt financial instruments at FVOCI generating realized losses 39,289 526,716 Realized losses 1 1,659 The movement of expected credit loss as of March 31, 2026 is as follows: Debt financial instruments Phase 1 Phase 2 Phase 3 Total Ch$mn Ch$mn Ch$mn Expected credit loss as of January 1, 2026 636 - - 636 Newly acquired assets 70 - - 70 Transfer to phase 1 - - - - Transfer to phase 2 - - - - Transfer to phase 3 - - - - Assets derecognized (excluding charge-offs) (75) - - (75) Change in measurement without portfolio reclassifying during the period (9) - - (9) Sale or assignment of loans - - - - Adjustment for changes and other - - - - As of March 31, 2026 622 - - 622 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 59
NOTE 11 - FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME, continued Commercial loans Phase 1 Phase 2 Phase 3 Total Ch$mn Ch$mn Ch$mn Expected credit loss as of January 1, 2026 196 - 4,291 4,487 New assets originated - - - Transfer to phase 1 - - Transfer to phase 2 - - Transfer to phase 3 - - Assets derecognized (excluding charge-offs) - - - - Change in measurement without portfolio reclassifying during the period 25 (44) (19) Sale or assignment of loans (30) - - (30) Adjustment for changes and other - - - - As of March 31, 2026 191 - 4,247 4,438 Residential mortgage loans Phase 1 Phase 2 Phase 3 Total Ch$mn Ch$mn Ch$mn Expected credit loss as of January 1, 2026 180 (4) - 176 New assets originated 75 - - 75 Transfer to phase 1 1 (28) - (27) Transfer to phase 2 (15) 160 - 145 Transfer to phase 3 (1) (2) 17 14 Assets derecognized (excluding charge-offs) - - Change in measurement without portfolio reclassifying during the period (17) 2 4 (11) Sale or assignment of loans - - Adjustment for changes and other - - - - As of March 31, 2026 223 128 21 372 The movement of expected credit loss as of December 31, 2025 is as follows: Debt financial instruments Phase 1 Phase 2 Phase 3 Total Ch$mn Ch$mn Ch$mn Expected credit loss as of January 1, 2025 415 - - 415 Newly acquired assets 927 - - 927 Transfer to phase 1 - - - - Transfer to phase 2 - - - - Transfer to phase 3 - - - - Assets derecognised (excluding charge-offs) (726) - - (726) Change in measurement without portfolio reclassifying during the period 20 - - 20 Sale or assignment of loans - - - - Adjustment for changes and other - - - - As of December 31, 2025 636 - - 636 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 60
NOTE 11 - FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME, continued Commercial loans Phase 1 Phase 2 Phase 3 Total Ch$mn Ch$mn Ch$mn Expected credit loss as of January 1, 2025 1,141 - - 1,141 New assets originated 147 - - 147 Transfer to phase 1 (590) 676 - 86 Transfer to phase 2 - - Transfer to phase 3 - (318) 4,291 3,973 Assets derecognized (excluding charge-offs) - - - - Change in measurement without portfolio reclassifying during the period (502) (358) - (860) Sale or assignment of loans - - - - Adjustment for changes and other - - - - As of December 31, 2025 196 - 4,291 4,487 Residential mortgage loans Phase 1 Phase 2 Phase 3 Total Ch$mn Ch$mn Ch$mn Expected credit loss as of January 1, 2025 23 - - - New financial assets originated 183 - - 183 Transfers to stage 1 19 (86) - (67) Transfers to stage 2 (28) 99 - 71 Transfers to stage 3 - - - - Assets derecognised or matured (excluding write-off) (8) (2) - (10) Changes due to changes un credit risk 11 (2) - 9 Write-off (20) (13) - (33) Other adjustments - - - - As of December 31, 2025 180 (4) - 176 The Bank assessed those instruments with unrealized loss as of March 31, 2026, and December 31, 2025 and concluded they were not impaired. This review assessed the economic drivers of any decline, the securities' issuer credit ratings and the Bank's intention and ability to hold the securities until the unrealized loss is recovered. Based on this analysis, the Bank considers there are no significant or prolonged declines or changes in credit risks to cause impairment in its investment portfolio. Most of these instruments' fair value decline was caused by market conditions that the Bank considers temporary. All instruments with unrealized loss as of March 31, 2026, and December 31, 2025, were not in a continuous unrealized loss position for over one year. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 61
NOTE 11 - FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME, continued The following table shows debt instruments and commercial and mortgage loans at fair value through other comprehensive income, including accumulated unrealized gains and losses as of March 31, 2026, and December 31, 2025: As of March 31, 2026 Amortized Fair Unrealized Unrealized cost value profit loss Ch$mn Ch$mn Ch$mn Ch$mn Chilean Central Bank and Government instruments Chilean Central Bank financial instruments 13,817 13,817 - - Chilean Treasury bonds and notes 2,911,835 2,878,790 33,562 (66,607) Other Chilean government financial instruments - - - - Subtotal 2,925,652 2,892,607 33,562 (66,607) Other Chilean debt financial instruments Other Chilean bank financial instruments 3,066 3,131 65 - Chilean companies bonds and commercial papers - - - - Other Chilean financial instruments - - - - Subtotal 3,066 3,131 65 - Debt financial debt instruments issued abroad Financial instruments of central banks abroad - - - - Debt financial instruments of foreign governments and fiscal entities 604,480 606,706 2,898 (672) Foreign debt financial instruments from other banks - - Foreign companies bonds and commercial papers - - - - Other foreign debt financial instruments - - - - Subtotal 604,480 606,706 2,898 (672) Loans originated and purchased by the entity Commercial loans 80,966 81,693 727 - Mortgage loans 345,047 288,940 - (56,107) Subtotal 426,013 370,633 727 (56,107) Total 3,959,211 3,873,077 37,252 (123,386) Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 62
NOTE 11 - FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME, continued As of December 31, 2025 Amortized Fair Unrealized Unrealized cost value profit loss Ch$mn Ch$mn Ch$mn Ch$mn Chilean Central Bank and Government instruments Chilean Central Bank financial instruments - - - - Chilean Treasury bonds and notes 2,872,436 2,825,238 22,421 (69,619) Other Chilean government financial instruments - - - - Subtotal 2,872,436 2,825,238 22,421 (69,619) Other Chilean debt financial securities Chilean Bank debt financial instruments 3,450 3,484 34 - Other Chilean companies bonds and commercial papers - - - - Other Chilean financial instruments - - - - Subtotal 3,450 3,484 34 - Debt financial debt instruments issued abroad Debt financial instruments of foreign governments and fiscal entities 769,747 769,644 1,278 (1,381) Other foreign banks debt financial instruments - - Foreign bonds and commercial papers - - - - Other foreign debt financial instruments - - - - Subtotal 769,747 769,644 1,278 (1,381) Loans originated and purchased by the entity Commercial loans 90,248 90,354 106 - Mortgage loans 236,742 201,232 - (35,510) Subtotal 326,990 291,586 106 (35,510) Total 3,972,623 3,889,952 23,839 (106,510) Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 63
NOTE 12 - FINANCIAL DERIVATIVE CONTRACTS FOR HEDGE ACCOUNTING PURPOSES As of March 31, 2026, and December 31, 2025, the Bank holds the following portfolio of derivative instruments designated as fair value hedges and cash flow hedges: As of March 31, 2026 Notional amount Fair value On demand Up to 1 month Between 1 month and 3 months Between 3 months and 1 year Between 1 year and 3 years Between 3 years and 5 years More than 5 years Total Assets Liabilities Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Fair value hedge derivatives Currency forwards - - - - - - - - - - Interest rate swaps - 100,000 - 475,000 2,343,038 758,050 185,550 3,861,638 2,519 92,253 Cross currency swaps - 290,386 804,744 3,660,811 1,873,369 2,071,032 1,908,975 10,609,317 216,308 392,050 Currency call options - - - - - - - - - - Call interest rate options - - - - - - - - - - Put currency options - - - - - - - - - - Put interest rate options - - - - - - - - - - Interest rate futures - - - - - - - - - - Other derivatives - - - - - - - - - - Subtotal - 390,386 804,744 4,135,811 4,216,407 2,829,082 2,094,525 14,470,955 218,827 484,303 Cash flow hedge derivatives Currency forwards - - 806,795 270,924 - - - 1,077,719 3,243 2,842 Interest rate swaps - - - - - - - - - - Cross currency swaps - 350,202 1,603,443 2,550,514 4,258,686 2,948,662 500,146 12,211,653 71,700 360,864 Currency call options - - - - - - - - - - Call interest rate options - - - - - - - - - - Put currency options - - - - - - - - - - Put interest rate options - - - - - - - - - - Interest rate futures - - - - - - - - - - Other derivatives - - - - - - - - - - Subtotal - 350,202 2,410,238 2,821,438 4,258,686 2,948,662 500,146 13,289,372 74,943 363,706 Total - 740,588 3,214,982 6,957,249 8,475,093 5,777,744 2,594,671 27,760,327 293,770 848,009 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 64
NOTE 12 - FINANCIAL DERIVATIVE CONTRACTS FOR HEDGE ACCOUNTING PURPOSES, continued As of December 31, 2025 Notional amount Fair value On demand Up to 1 month Between 1 month and 3 months Between 3 months and 1 year Between 1 year and 3 years Between 3 years and 5 years More than 5 years Total Assets Liabilities Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Fair value hedge derivatives Currency forwards - - - - - - - - - - Interest rate swaps - - - 175,000 2,075,449 752,638 180,138 3,183,225 580 103,009 Cross currency swaps - 208,960 836,741 3,432,758 2,185,078 1,142,547 2,069,995 9,876,079 202,632 421,620 Currency call options - - - - - - - - - - Call interest rate options - - - - - - - - - - Put currency options - - - - - - - - - - Put interest rate options - - - - - - - - - - Interest rate futures - - - - - - - - - - Other derivatives - - - - - - - - - - Subtotal - 208,960 836,741 3,607,758 4,260,527 1,895,185 2,250,133 13,059,304 203,212 524,629 Cash flow hedge derivatives Currency forwards - 272,306 311,863 1,076,376 - - - 1,660,545 5,843 20,706 Interest rate swaps - - - - - - - - - - Cross currency swaps - 589,136 1,673,048 3,546,146 3,814,876 2,844,561 553,938 13,021,705 52,137 367,381 Currency call options - - - - - - - - - - Call interest rate options - - - - - - - - - - Put currency options - - - - - - - - - - Put interest rate options - - - - - - - - - - Interest rate futures - - - - - - - - - - Other derivatives - - - - - - - - - - Subtotal - 861,442 1,984,911 4,622,522 3,814,876 2,844,561 553,938 14,682,250 57,980 388,087 Total - 1,070,402 2,821,652 8,230,280 8,075,403 4,739,746 2,804,071 27,741,554 261,192 912,716 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 65
NOTE 12 - FINANCIAL DERIVATIVE CONTRACTS FOR HEDGE ACCOUNTING PURPOSES, continued 1. Micro-hedge accounting Fair value micro-hedges The Bank uses cross-currency swaps, interest rate swaps, and call money swaps to cover its exposure to changes in the hedged item's fair value attributable to the interest rate. These hedging instruments change the effective cost of long-term issues from a fixed to a floating interest rate. The following is a notional breakdown of hedged items and hedging instruments under fair value hedges, effective as of March 31, 2026, and December 31, 2025, separated by their term to maturity: As of March 31, 2026 On demand Up to 1 month Between 1 month and 3 months Between 3 months and 1 year Between 1 year and 3 years Between 3 years and 5 years More than 5 years Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Hedged item Loans and receivables from clients Commercial loans - 100,197 214,310 200,301 - - - 514,808 Investment instruments at AC Chilean Sovereign Bond - - - - 189,315 167,634 127,848 484,797 Investment instruments at FVOCI Chilean Sovereign bond - - - - - - - - Mortgage notes - - - - - - - - US Treasury bonds - - - - 603,037 - - 603,037 Chilean Treasury bonds - - - - 900,069 472,500 290,136 1,662,705 Chilean Central Bank bonds - - - - - - - - Time deposits and repos Time deposits - - - 159,107 61,303 - - 220,410 Rights under repurchase agreements - - - 231,937 - - - 231,937 Issued debt instruments Senior bonds - 100,001 274,999 584,410 635,149 616,070 447,355 2,657,984 Subordinated Bonds - - - 199,208 - 185,550 - 384,758 Interbank borrowing Interbank loans - 190,188 315,435 853,530 92,775 - - 1,451,928 Chilean Central Bank loans - - - - - - - Total - 390,386 804,744 2,228,493 2,481,648 1,441,754 865,339 8,212,364 Hedging instrument Cross Currency swaps - 290,385 804,744 2,153,493 1,288,611 783,704 679,789 6,000,726 Interest rate swaps - 100,001 - 75,000 1,193,037 658,050 185,550 2,211,638 Total - 390,386 804,744 2,228,493 2,481,648 1,441,754 865,339 8,212,364 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 66
NOTE 12 - FINANCIAL DERIVATIVE CONTRACTS FOR HEDGE ACCOUNTING PURPOSES, continued As of December 31, 2025 On demand Up to 1 month Between 1 month and 3 months Between 3 months and 1 year Between 1 year and 3 years Between 3 years and 5 years More than 5 years Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Hedged item Loans and receivables from clients Commercial loans - 46,835 159,422 499,792 - - - 706,049 Investment instruments at AC Chilean Sovereign Bond - - - - 16,640 172,675 295,483 484,798 Investment instruments at FVOCI Chilean Sovereign bond - - - - - - - - Mortgage notes - - - - - - - - US Treasury bonds - - - - 585,448 - - 585,448 Chilean Treasury bonds - - 38,346 - 884,866 472,500 250,350 1,646,062 Chilean Central Bank bonds - - - - - - - - Time deposits and repos Time deposits - 31,525 34,406 148,374 - - - 214,305 Issued debt instruments Senior bonds - - 419,924 679,243 631,454 173,474 433,186 2,337,281 Subordinated Bonds - - - 198,639 - 180,138 - 378,777 Interbank borrowing Interbank loans 0 130,600 184,643 891,686 90,070,000,00 0 0 0 1,296,999 Chilean Central Bank loans - - - - - - - - Total - 208,960 836,741 2,417,734 2,208,478 998,787 979,019 7,649,719 Hedging instrument Cross currency swaps - 208,960 836,741 2,242,733 1,283,030 346,149 798,881 5,716,494 Interest rate swaps - - - 175,001 925,448 652,638 180,138 1,933,225 Total - 208,960 836,741 2,417,734 2,208,478 998,787 979,019 7,649,719 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 67
NOTE 12 - FINANCIAL DERIVATIVE CONTRACTS FOR HEDGE ACCOUNTING PURPOSES, continued Cash flow micro-hedging The Bank uses cross-currency swaps to hedge the risk of the variability of cash flows attributable to changes in the interest rate of bonds and interbank loans issued at floating rates and to hedge foreign currency fluctuations, mainly in US dollars. In addition, it uses both forward and cross-currency swaps to hedge the inflation risk on certain items. The following are the notional amounts of the hedged item as of March 31, 2026, and December 31, 2025, and the period in which the flows will occur: As of March 31, 2026 On demand Up to 1 month Between 1 month and 3 months Between 3 months and 1 year Between 1 year and 3 years Between 3 years and 5 years More than 5 years Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Hedged item Loans and receivables at amortized cost Mortgage loans - 339,069 952,448 1,633,350 3,017,978 1,676,660 266,047 7,885,552 Commercial loans - - 607,586 81,126 283,681 444,450 - 1,416,843 Investment instruments at FVOCI Chile Sovereign bond - - - - - - - - Chilean Central Bank bonds - - - - - 214,972 - 214,972 Chilean Treasury bonds - - - - - - - - Deposits and other time deposits Time deposits - - - - - - - - Issued debt instruments Senior bonds - - 274,998 750,705 366,978 473,417 234,099 2,100,197 Subordinated Bonds - - - - - - - - Interbank borrowing Interbank loans - 11,133 575,206 356,257 590,049 139,163 - 1,671,808 Total - 350,202 2,410,238 2,821,438 4,258,686 2,948,662 500,146 13,289,372 Hedging instrument Cross currency swaps - 350,202 1,603,443 2,550,514 4,258,686 2,948,662 500,146 12,211,653 Forwards - - 806,795 270,924 - - - 1,077,719 Total - 350,202 2,410,238 2,821,438 4,258,686 2,948,662 500,146 13,289,372 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 68
NOTE 12 - FINANCIAL DERIVATIVE CONTRACTS FOR HEDGE ACCOUNTING PURPOSES, continued As of December 31, 2025 On demand Up to 1 month Between 1 month and 3 months Between 3 months and 1 year Between 1 year and 3 years Between 3 years and 5 years More than 5 years Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Hedged item Loans and receivables at amortized cost Mortgage loans - 566,619 1,639,788 2,339,851 2,283,095 1,558,260 345,403 8,733,016 Commercial loans - - - 607,586 364,807 444,450 - 1,416,843 Investment instruments at FVOCI Chile Sovereign bond - - - - - - - - Chilean Central Bank bonds - - - - - 214,972 - 214,972 Chilean Treasury bonds - - - - - - - - Deposits and other time deposits Time deposits - - - - - - - - Issued debt instruments Senior bonds - 159,720 255,054 759,983 594,136 491,774 208,535 2,469,202 Subordinated Bonds - - - - - - - - Interbank borrowing Interbank loans - 135,103 90,069 915,102 572,838 135,105 - 1,848,217 Total - 861,442 1,984,911 4,622,522 3,814,876 2,844,561 553,938 14,682,250 Hedging instrument Cross currency swaps - 589,136 1,673,049 3,546,145 3,814,876 2,844,561 553,938 13,021,705 Forwards - 272,306 311,862 1,076,377 - - - 1,660,545 Total - 861,442 1,984,911 4,622,522 3,814,876 2,844,561 553,938 14,682,250 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 69
NOTE 12 - FINANCIAL DERIVATIVE CONTRACTS FOR HEDGE ACCOUNTING PURPOSES, continued i. Projection of flows by interest rate risk The estimation of the periods in which flows are expected is presented below: As of March 31, 2026 On demand Up to 1 month Between 1 month and 3 months Between 3 months and 1 year Between 1 year and 3 years Between 3 years and 5 years More than 5 years Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Hedged item Inflows - 57 - 57 113 57 - 284 Outflows - (78,703) (22,377) (10,156) (7,412) (1,089) (1,739) (121,476) Net flows - (78,646) (22,377) (10,099) (7,299) (1,032) (1,739) (121,192) Hedging instrument Inflows - (57) - (57) (113) (57) - (284) Outflows (*) - 78,703 22,377 10,156 7,412 1,089 1,739 121,476 Net flows - 78,646 22,377 10,099 7,299 1,032 1,739 121,192 (*) Includes only the portion of the hedging instrument's projected cash flows (derivative) used to hedge interest rate risk. As of December 31, 2025 On demand Up to 1 month Between 1 month and 3 months Between 3 months and 1 year Between 1 year and 3 years Between 3 years and 5 years More than 5 years Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Hedged item Inflows - 6,927 - 56 113 56 - 7,152 Outflows - (29,339) (4,589) (31,407) (7,613) (1,112) (2,016) (76,076) Net flows - (22,412) (4,589) (31,351) (7,500) (1,056) (2,016) (68,924) Hedging instrument Inflows - (6,927) - (56) (113) (56) - (7,152) Outflows (*) - 29,339 4,589 31,407 7,613 1,112 2,016 76,076 Net flows - 22,412 4,589 31,351 7,500 1,056 2,016 68,924 (*) Includes only the portion of the hedging instrument's projected cash flows (derivative) used to hedge interest rate risk. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 70
NOTE 12 - FINANCIAL DERIVATIVE CONTRACTS FOR HEDGE ACCOUNTING PURPOSES, continued ii. Projection of cash flows by inflation risk As of March 31, 2026 On demand Up to 1 month Between 1 month and 3 months Between 3 months and 1 year Between 1 year and 3 years Between 3 years and 5 years More than 5 years Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Hedged item Inflows - - - - - - - - Outflows - (832) - (982) (3,328) (116) (58) (5,316) Net flows - (832) - (982) (3,328) (116) (58) (5,316) Hedging instrument Inflows - - - - Outflows - 832 - 982 3,328 116 58 5,316 Net flows - 832 - 982 3,328 116 58 5,316 As of December 31, 2025 On demand Up to 1 month Between 1 month and 3 months Between 3 months and 1 year Between 1 year and 3 years Between 3 years and 5 years More than 5 years Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Hedged item Inflows - 305,137 219,141 211,825 253,780 263,110 117,732 1,370,725 Outflows - (33,807) (5,273) (17,797) (2,488) (49,025) - (108,390) Net flows - 271,330 213,868 194,028 251,292 214,085 117,732 1,262,335 Hedging instrument Inflows - 33,807 5,273 17,797 2,488 49,025 - 108,390 Outflows - (305,137) (219,141) (211,825) (253,780) (263,110) (117,732) (1,370,725) Net flows - (271,330) (213,868) (194,028) (251,292) (214,085) (117,732) (1,262,335) Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 71
NOTE 12 - FINANCIAL DERIVATIVE CONTRACTS FOR HEDGE ACCOUNTING PURPOSES, continued iii. Projection of cash flows by exchange rate risk As of March 31, 2026 On demand Up to 1 month Between 1 month and 3 months Between 3 months and 1 year Between 1 year and 3 years Between 3 years and 5 years More than 5 years Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Hedged item Inflows - - - - - - - - Outflows - (85,651) - (982) (3,328) (116) (58) (90,135) Net flows - (85,651) - (982) (3,328) (116) (58) (90,135) Hedging instrument Inflows - - - - - - - - Outflows - 85,651 - 982 3,328 116 58 90,135 Net flows - 85,651 - 982 3,328 116 58 90,135 As of December 31, 2025 On demand Up to 1 month Between 1 month and 3 months Between 3 months and 1 year Between 1 year and 3 years Between 3 years and 5 years More than 5 years Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Hedged item Inflows - - - - - - - - Outflows - (84,819) - (1,659) (3,482) (116) (58) (90,134) Net flows - (84,819) - (1,659) (3,482) (116) (58) (90,134) Hedging instrument Inflows - - - - - - - - Outflows - 84,819 - 1,659 3,482 116 58 90,134 Net flows - 84,819 - 1,659 3,482 116 58 90,134 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 72
NOTE 12 - FINANCIAL DERIVATIVE CONTRACTS FOR HEDGE ACCOUNTING PURPOSES, continued 2. Effect on other comprehensive income The valuation generated by those hedging instruments used in cash flow hedges whose effect was recorded in the Interim Consolidated Statement of Change in Equity, specifically within 'Other Accumulated Comprehensive Income', in cash flow hedges, is presented as follows: As of March 31, As of December 31, Hedged item 2026 2025 Ch$mn Ch$mn Interbank borrowing (18,859) (12,474) Time deposits and other term equivalents - - Issued debt instruments (6,944) (11,658) Debt instruments at FVOCI (6,881) (597) Loans and receivables at amortized cost (129,188) 7,541 Total (161,872) (17,188) Considering that the variable flows of both the hedged item and the hedging instrument are mirrors of each other, the hedges are close to 100% efficient. This entails that all variations in value attributable to components of the hedged risk are almost fully netted. During the period, the Bank did not record any forecasted future transactions within its cash flow hedge accounting portfolio. 3. Effect on results The result generated by the cash flow derivatives whose effect was transferred from other comprehensive income into the results for the period is presented below: As of March 31, As of December 31, Hedged item 2026 2025 Ch$mn Ch$mn Bond hedge derivatives 320 1,008 Interbank loans hedge derivatives (413) (2,811) Loan hedge derivatives (2,972) (20,203) Cash flow hedge net income(*) (3,065) (22,006) (*) See Note 28 'Equity', letter f. 4. Net investment hedges in foreign operations As of March 31, 2026, and December 31, 2025, the Bank does not have net investment hedges in foreign operations within its hedge accounting portfolio. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 73
NOTE 12 - FINANCIAL DERIVATIVE CONTRACTS FOR HEDGE ACCOUNTING PURPOSES, continued 5. Fair value macro-hedges The Bank has macro-hedges for loans and receivables from clients, specifically for the mortgage and commercial loan portfolios. The details are presented below: Notional amount As of March 31, 2026 On demand Up to 1 month Between 1 month and 3 months Between 3 months and 1 year Between 1 year and 3 years Between 3 years and 5 years More than 5 years Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Hedged item Loans and receivables at amortized cost Mortgage loans - - - - - 125,790 252,137 377,927 Commercial loans - - - 1,507,318 1,734,759 1,261,538 977,049 5,480,664 Deposits and obligations under repurchase agreements Time deposits - - - 400,000 - - - 400,000 TOTAL - - - 1,907,318 1,734,759 1,387,328 1,229,186 6,258,591 Hedging instrument Currency and interest rate swaps - - - 1,507,318 584,759 1,287,328 1,229,186 4,608,591 Interest rate swaps - - - 400,000 1,150,000 100,000 - 1,650,000 TOTAL - - - 1,907,318 1,734,759 1,387,328 1,229,186 6,258,591 Notional amount As of December 31, 2025 On demand Up to 1 month Between 1 month and 3 months Between 3 months and 1 year Between 1 year and 3 years Between 3 years and 5 years More than 5 years Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Hedged item Loans and receivables at amortized cost Mortgage loans - - - - - 83,860 294,067 377,927 Commercial loans - - – 1,190,024 2,052,049 812,538 977,047 5,031,658 TOTAL - - – 1,190,024 2,052,049 896,398 1,271,114 5,409,585 Hedging instrument Currency and interest rate swaps - - – 1,190,024 902,049 796,398 1,271,114 4,159,585 Interest rate swaps - - – – 1,150,000 100,000 – 1,250,000 TOTAL - - – 1,190,024 2,052,049 896,398 1,271,114 5,409,585 As of March 31, 2026, and December 31, 2025 Ch$174,532 million and Ch$119,790 million, respectively, are presented under 'other assets' for the mark-to-market valuation of the net assets or liabilities hedged in a macro hedge (Note 19). As of March 31, 2026, and December 31, 2025 Ch$43,795 million and Ch$51,690 million, respectively, are presented under 'other liabilities' for the mark-to-market valuation of hedged liabilities in a macro hedge (Note 27). Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 74
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST The composition and balances as of March 31, 2026, and December 31, 2025, of financial assets at amortized cost are as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Financial assets at amortized cost Rights under repurchase and securities lending agreements Local banks transactions - - Foreign banks transactions 924,961 277,410 Other Chilean entities transactions 130,972 150,736 Other foreign entities transactions - - Impairment on rights under repurchase agreements (179) (163) Subtotal 1,055,754 427,983 Debt financial instruments Chilean Central Bank and Government 5,151,500 5,098,597 Financial debt instruments issued abroad 432,582 427,790 Provision (1,159) (1,145) Subtotal 5,582,923 5,525,242 Interbank loans Foreign banks 52,494 68,178 Provisions for loans to foreign banks (54) (107) Subtotal 52,440 68,071 Loans and receivables from clients Commercial loans 17,387,254 17,363,835 Commercial loans 13,472,669 13,290,625 Foreign trade loans 1,733,336 1,786,313 Current account debtors 91,580 108,208 Credit card debtors 168,639 154,211 Factoring transactions 850,103 937,645 Commercial leasing transactions 959,590 975,746 Student loans 27,609 29,770 Other loans and receivables 83,728 81,317 Mortgage loans 17,353,554 17,443,563 Mortgage loans with letters of credit 14 14 Endorsable mortgage loans 234 250 Mortgage bond-financed loans 75,192 77,208 Other mutual mortgage loans 17,175,274 17,262,519 Financial leasing transactions for housing - - Other loans and receivables 102,840 103,572 Consumer loans 6,104,825 6,057,304 Consumer loans in installments 3,899,107 3,856,368 Current account debtors 131,222 137,338 Credit card debtors 2,072,652 2,061,691 Consumer finance leasing transactions 1,548 1,576 Other loans and receivables 296 331 Provisions established for credit risk (1,387,626) (1,341,099) Provisions for commercial loans (765,639) (716,635) Provisions for mortgage loans (187,191) (185,038) Provisions for consumer loans (434,796) (439,426) Subtotal 39,458,007 39,523,603 Total Financial Assets at amortized cost 46,149,124 45,544,899 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 75
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued During the first quarter of 2026, the Bank sold commercial loan operations amounting to Ch$53,607 million and residential mortgage loans amounting to Ch$849 million to unrelated entities within the local financial system. During 2025, the Bank carried out sales of leasing operations amounting to Ch$17,945 million and commercial loans amounting to Ch$12,867 million, to unrelated entities of the local financial system. a. Rights under repurchase and securities lending agreements The balances as of March 31, 2026, and December 31, 2025, of these instruments were as follows: As of March 31, 2026 As of December 31, 2025 On demand Up to 1 month Between 1 month and 3 months Between 3 month and 12 months Total On demand Up to 1 month Between 1 month and 3 months Between 3 month and 12 months Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Foreign banks transactions Repurchase agreements with other banks – 924,961 – – 924,961 – 277,410 – – 277,410 Repurchase agreements with foreign Central Banks – – – – – – – – – – Rights under lending agreements – – – – – – – – – – Subtotal – 924,961 – – 924,961 – 277,410 – – 277,410 Other Chilean entities transactions Repurchase agreements – 91,792 17,957 21,223 130,972 – 95,643 27,120 27,973 150,736 Rights under lending agreements – – – – – – – – – – Subtotal – 91,792 17,957 21,223 130,972 – 95,643 27,120 – 150,736 Other foreign entities transactios Repurchase agreements – – – – – – – – – – Rights under lending agreements – – – – – – – – – – Subtotal – – – – – – – – – – Total – 1,016,753 17,957 21,223 1,055,933 – 373,053 27,120 – 428,146 The accumulated credit impairment related to repurchase agreements and securities lending operations amounts to Ch$179 million and Ch$163 million as of March 31, 2026, and December 31, 2025, respectively. The analysis of the changes in the impairment allowance as of March 31, 2026, and December 31, 2025, is as follows: Phase 1 Phase 2 Phase 3 Total Ch$mn Ch$mn Ch$mn Balances as of January 1, 2026 163 – – 163 Change in measurement without portfolio reclassifying during the period 7 – – 7 Transfer to phase 1 – – – – Transfer to phase 2 – – – – Transfer to phase 3 – – – – New transactions originated 311 – – 311 Sale or transfer – – – – Maturity transactions (302) – – (302) Other changes in provisions – – – – Balance as of March 31, 2026 179 – – 179 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 76
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued Phase 1 Phase 2 Phase 3 Total Ch$mn Ch$mn Ch$mn Balances as of January 1, 2025 48 – – 48 Change in measurement without portfolio reclassifying during the period 20 – – 20 Transfer to phase 1 – – – – Transfer to phase 2 – – – – Transfer to phase 3 – – – – New transactions originated 1,204 – – 1,204 Sale or transfer – – – – Maturity transactions (1,109) – – (1,109) Other changes in provisions – – – – Balance as of December 31, 2025 163 – – 163 b. Debt financial instruments As of March 31, 2026, and December 31, 2025 the composition of debt financial instruments is as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Instruments of the Chilean Central Bank and Government Chilean Central Bank debt instruments - - Chilean Treasury bonds and notes 5,151,500 5,098,597 Other government debt financial instruments - - Subtotal 5,151,500 5,098,597 Under repurchase agreement 1,428,361 - Other Chilean debt financial instruments Chilean other banks debt financial instruments - - Chilean bonds and commercial paper - - Other Chilean debt financial instruments - - Subtotal - - Under repurchase agreement - - Foreign debt financial instruments Foreign central banks debt financial instruments - - Foreign governments and fiscal entities debt financial instruments - - Foreign other banks debt financial instruments - - Foreign companies bonds and commercial paper - - Other foreign debt financial instruments 432,582 427,790 Subtotal 432,582 427,790 Under repurchase agreement - - Expected credit loss allowance Expected credit loss allowance (1,159) (1,145) Subtotal (1,159) (1,145) Total 5,582,923 5,525,242 Under the item “Chilean Treasury and Central Bank of Chile,” instruments are held as collateral to cover margin requirements for derivative operations through Comder Contraparte Central S.A., amounting to Ch$84,960 million and Ch$83,830 million as of March 31, 2026, and December 31, 2025, respectively. In addition, collateral is maintained for operations through the “Cámara de pagos de Bajo Valor" (CPBV) amounting to Ch$92,316 and Ch$91,198 million as of March 31, 2026, and December 31, 2025 , respectively. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 77
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued Under the item “Debt instruments issued abroad,” instruments are held as collateral to cover margin requirements for derivative operations, amounting to Ch$311,654 million and Ch$305,248 million as of March 31, 2026, and December 31, 2025, respectively. Analysis of changes in the impairment value as of March 31, 2026, and December 31, 2025, is as follows: Phase 1 Phase 2 Phase 3 Total Ch$mn Ch$mn Ch$mn Balances as of January 1, 2026 1,145 - - 1,145 Change in measurement without portfolio reclassifying during the period 14 - - 14 Transfer to phase 1 - - - - Transfer to phase 2 - - - - Transfer to phase 3 - - - - New assets originated - - - Sale, transfer or maturity - - - - Paid loans - - - - Other changes in provisions - - - - Balance as of March 31, 2026 1,159 - - 1,159 Phase 1 Phase 2 Phase 3 Total Ch$mn Ch$mn Ch$mn Balances as of January 1, 2025 1,074 - - 1,074 Change in measurement without portfolio reclassifying during the period 43 - - 43 Transfer to phase 1 - - - - Transfer to phase 2 - - - - Transfer to phase 3 - - - - New assets originated 28 - - 28 Sale, transfer or maturity - - - - Paid loans - - - - Other changes in provisions - - - - Balance as of December 31, 2025 1,145 - - 1,145 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 78
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued c. Interbank loans As of March 31, 2026, and December 31, 2025, the details of amounts owed to banks is as follows: Interbank loans As of March 31, 2026 (In Ch$mn) Financial assets before provisions Established provisions Normal portfolio Substandard Portfolio Non-performing portfolio Total Normal portfolio Substandard Portfolio Impaired portfolio Total Net financial assetsIndividual Individual Individual Individual Individual Individual Assessment Assessment Assessment Assessment Assessment Assessment Banks in the country Interbank liquidity loans - - - - - - - - - Commercial interbank loans - - - - - - - - - Current account overdrafts - - - - - - - - - Foreign trade loans Chilean exports - - - - - - - - - Foreign trade loans Chilean imports - - - - - - - - - Foreign trade loans between third countries - - - - - - - - - Non-transferable deposits in domestic bank - - - - - - - - - Other loans with domestic banks - - - - - - - - - Foreign banks Interbank liquidity loans - - - - - - - - - Commercial interbank loans - - - - - - - - - Current account overdrafts - - - - - - - - - Foreign trade loans Chilean exports 52,494 - - 52,494 54 - - 54 52,440 Foreign trade loans Chilean imports - - - - - - - - - Foreign trade loans between third countries - - - - - - - - - Current account deposits with banks abroad for derivative transactions - - - - - - - - - Other non-transferable deposits with banks abroad - - - - - - - - - Other loans with foreign banks - - - - - - - - - Subtotal domestic and foreign banks 52,494 - - 52,494 54 - - 54 52,440 Central Bank of Chile Current account deposits for derivatives transactions with a central counterparty - - - - - - - - - Other unavailable deposits - - - - - - - - - Other loans - - - - - - - - - Foreign central banks - - - - - - - - - Current account deposits for derivatives transactions with a central counterparty - - - - - - - - - Other unavailable deposits - - - - - - - - - Other loans - - - - - - - - - Subtotal Central Bank of Chile and foreign central banks - - - - - - - - - TOTAL 52,494 - - 52,494 54 - - 54 52,440 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 79
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued Interbank loans As of December 31, 2025 (In Ch$mn) Financial assets before provisions Established provisions Normal portfolio Substandard Portfolio Non-performing portfolio Total Normal portfolio Substandard Portfolio Impaired portfolio Total Net financial assetsIndividual Individual Individual Individual Individual Individual Assessment Assessment Assessment Assessment Assessment Assessment Banks in the country Interbank liquidity loans - - - - - - - - - Commercial interbank loans - - - - - - - - - Current account overdrafts - - - - - - - - - Foreign trade loans Chilean exports - - - - - - - - - Foreign trade loans Chilean imports - - - - - - - - - Foreign trade loans between third countries - - - - - - - - - Non-transferable deposits in domestic bank - - - - - - - - - Other loans with domestic banks - - - - - - - - - Foreign banks Interbank liquidity loans - - - - - - - - - Commercial interbank loans - - - - - - - - - Current account overdrafts - - - - - - - - - Foreign trade loans Chilean exports 68,178 - - 68,178 107 - - 107 68,071 Foreign trade loans Chilean imports - - - - - - - - - Foreign trade loans between third countries - - - - - - - - - Current account deposits with banks abroad for derivative transactions - - - - - - - - - Other non-transferable deposits with banks abroad - - - - - - - - - Other loans with foreign banks - - - - - - - - - Subtotal domestic and foreign banks 68,178 - - 68,178 107 - - 107 68,071 Central Bank of Chile Current account deposits for derivatives transactions with a central counterparty - - - - - - - - - Other unavailable deposits - - - - - - - - - Other loans - - - - - - - - - Foreign central banks Current account deposits for derivatives transactions with a central counterparty - - - - - - - - - Other unavailable deposits - - - - - - - - - Other loans - - - - - - - - - Subtotal Central Bank of Chile and foreign central banks - - - - - - - - - TOTAL 68,178 - - 68,178 107 - - 107 68,071 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 80
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued d. Loans and receivables from clients The balances of Loans and receivables from clients as of March 31, 2026, and December 31, 2025, are as follows: Loans and receivables As of March 31, 2026 (In Ch$mn) Financial assets before provisions Total Established provisions Subtotal Deductible FOGAPE Covid-19 guarantee s Total Net financial assets Normal portfolio Substandard Portfolio Impaired portfolio Normal portfolio Substandard Portfolio Impaired portfolio Assessment Assessment Assessment Assessment Assessment Assessment Individual Group Individual Individual Group Individual Group Individual Individual Group Commercial loans Commercial loans 6,696,369 4,562,610 1,048,425 659,390 505,875 13,472,669 73,687 68,162 45,043 232,416 170,332 589,640 1,016 590,656 12,882,013 Foreign trade loans Chilean exports 713,837 13,093 42,762 53,619 2,663 825,974 17,173 412 5,520 41,694 1,450 66,249 – 66,249 759,725 Foreign trade loans Chilean imports 765,581 80,519 42,007 12,340 3,656 904,103 20,514 2,243 3,932 9,287 1,994 37,970 – 37,970 866,133 Foreign trade loans between third countries 2,263 – 996 – – 3,259 56 – 138 – – 194 – 194 3,065 Current account debtors 45,747 31,497 5,435 1,385 7,516 91,580 869 954 419 685 4,122 7,049 – 7,049 84,531 Credit card debtors 32,933 119,722 2,759 677 12,548 168,639 818 3,732 307 358 6,962 12,177 – 12,177 156,462 Factoring transactions 792,045 25,736 23,001 5,070 4,251 850,103 9,282 453 2,445 3,267 2,464 17,911 – 17,911 832,192 Commercial leasing transactions 666,284 142,103 100,028 41,611 9,564 959,590 3,297 937 1,579 8,573 8,011 22,397 3 22,400 937,190 Student loans – 21,272 – – 6,337 27,609 – 428 – – 1,613 2,041 – 2,041 25,568 Other loans and receivables 5,555 66,272 591 2,315 8,995 83,728 94 2,264 46 1,527 5,061 8,992 – 8,992 74,736 Subtotal 9,720,614 5,062,824 1,266,004 776,407 561,405 17,387,254 125,790 79,585 59,429 297,807 202,009 764,620 1,019 765,639 16,621,615 Mortgage loans Loans with mortgage finance – – – – 14 14 – – – – 1 1 – 1 13 Endorsable mortgage mutual loans – 197 – – 37 234 – – – – 5 5 – 5 229 Mortgage bond-financed loans – 71,686 – – 3,506 75,192 – 110 – – 273 383 – 383 74,809 Other mutual mortgage loans – 16,064,482 – – 1,110,792 17,175,274 – 34,916 – – 150,138 185,054 – 185,054 16,990,220 Financial leasing transaction for housing – – – – – – – – – – – – – – – Other loans and receivables – 91,337 – – 11,503 102,840 – 218 – – 1,530 1,748 – 1,748 101,092 Subtotal – 16,227,702 – – 1,125,852 17,353,554 – 35,244 – – 151,947 187,191 – 187,191 17,166,363 Consumer loans Consumer loans in installments – 3,626,662 – – 272,445 3,899,107 – 162,003 – – 155,788 317,791 – 317,791 3,581,316 Current account debtors – 122,266 – – 8,956 131,222 – 6,991 – – 5,130 12,121 – 12,121 119,101 Credit card debtors – 2,035,809 – – 36,843 2,072,652 – 83,475 – – 21,203 104,678 – 104,678 1,967,974 Consumer finance leasing transactions – 1,539 – – 9 1,548 – 36 – – 3 39 – 39 1,509 Other loans and receivables – 14 – – 282 296 – 3 – – 164 167 – 167 129 Subtotal – 5,786,290 – – 318,535 6,104,825 – 252,508 – – 182,288 434,796 – 434,796 5,670,029 TOTAL 9,720,614 27,076,816 1,266,004 776,407 2,005,792 40,845,633 125,790 367,337 59,429 297,807 536,244 1,386,607 1,019 1,387,626 39,458,007 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 81
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued Loans and receivables As of December 31, 2025 (In Ch$mn) Financial assets before provisions Total Established provisions Subtotal Deductible FOGAPE Covid-19 guarantees Total Net financial assets Normal portfolio Substandard Portfolio Impaired portfolio Normal portfolio Substandard Portfolio Impaired portfolio Assessment Assessment Assessment Assessment Assessment Assessment Individual Group Individual Individual Group Individual Group Individual Individual Group Commercial loans Commercial loans 6,552,077 4,501,522 1,130,613 621,489 484,924 13,290,625 68,313 64,691 51,374 214,706 167,606 566,690 2,191 568,881 12,721,744 Foreign trade loans Chilean exports 769,504 8,587 75,594 13,275 2,984 869,944 17,320 296 9,526 7,404 1,635 36,181 - 36,181 833,763 Foreign trade loans Chilean imports 781,684 73,088 37,944 15,462 3,750 911,928 20,799 1,899 2,509 11,635 2,050 38,892 - 38,892 873,036 Foreign trade loans between third countries 3,553 - 888 - - 4,441 30 - 123 - - 153 - 153 4,288 Current account debtors 65,065 30,698 4,361 1,152 6,932 108,208 1,482 1,169 423 564 3,803 7,441 - 7,441 100,767 Credit card debtors 27,149 112,834 2,287 758 11,183 154,211 739 3,354 244 354 6,199 10,890 - 10,890 143,321 Factoring transactions 880,545 27,722 20,510 4,805 4,063 937,645 11,808 531 2,554 3,141 3,128 21,162 - 21,162 916,483 Commercial leasing transactions 680,504 144,261 100,338 40,548 10,095 975,746 3,626 1,449 1,429 7,478 8,234 22,216 5 22,221 953,525 Student loans - 22,817 - - 6,953 29,770 - 576 - - 2,174 2,750 - 2,750 27,020 Other loans and receivables 6,263 63,549 313 1,800 9,392 81,317 75 2,264 30 892 4,803 8,064 - 8,064 73,253 Subtotal 9,766,344 4,985,078 1,372,848 699,289 540,276 17,363,835 124,192 76,229 68,212 246,174 199,632 714,439 2,196 716,635 16,647,200 Mortgage loans Loans with mortgage finance - - - - 14 14 - - - - 1 1 - 1 13 Endorsable mortgage mutual loans - 221 - - 29 250 - - - - 2 2 - 2 248 Mortgage bond-financed loans - 73,965 - - 3,243 77,208 - 119 - - 263 382 - 382 76,826 Other mutual mortgage loans - 16,182,762 - - 1,079,757 17,262,519 - 35,119 - - 147,170 182,289 - 182,289 17,080,230 Financial leasing transaction for housing - - - - - - - - - - - - - - - Other loans and receivables - 86,194 - - 17,378 103,572 - 324 - - 2,040 2,364 - 2,364 101,208 Subtotal - 16,343,142 - - 1,100,421 17,443,563 - 35,562 - - 149,476 185,038 - 185,038 17,258,525 Consumer loans Consumer loans in installments - 3,576,117 - - 280,251 3,856,368 - 163,524 - - 158,008 321,532 - 321,532 3,534,836 Current account debtors - 128,783 - - 8,555 137,338 - 7,261 - - 4,896 12,157 - 12,157 125,181 Credit card debtors - 2,023,609 - - 38,082 2,061,691 - 83,524 - - 21,986 105,510 - 105,510 1,956,181 Consumer finance leasing transactions - 1,569 - - 7 1,576 - 40 - - 2 42 - 42 1,534 Other loans and receivables - 20 - - 311 331 - 4 - - 181 185 - 185 146 Subtotal - 5,730,098 - - 327,206 6,057,304 - 254,353 - - 185,073 439,426 - 439,426 5,617,878 TOTAL 9,766,344 27,058,318 1,372,848 699,289 1,967,903 40,864,702 124,192 366,144 68,212 246,174 534,181 1,338,903 2,196 1,341,099 39,523,603 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 82
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued e. Contingent loans Contingent loan balances as of March 31, 2026, and December 31, 2025, are as follows: Credit risk exposure from contingent loans As of March 31, 2026 (In Ch$mn) Contingent loan exposure before provisions Total Established provisions Total Net contingent loan risk exposure Normal portfolio Substandard Portfolio Impaired portfolio Normal portfolio Substandard Portfolio Impaired portfolio Assessment Assessment Assessment Assessment Assessment Assessment Individual Group Individual Individual Group Individual Group Individual Individual Group Personal guarantees 477,161 1,037 25,813 - - 504,011 2,320 23 2,115 - - 4,458 499,553 Letter of credits of merchandise traffic operations 63,493 192 1,403 - - 65,088 598 4 13 - - 615 64,473 Debt purchase commitments in local currencies abroad - - - - - - - - - - - - - Transactions related to contingent events 908,494 21,311 40,187 4,413 134 974,539 13,148 493 1,182 2,836 76 17,735 956,804 Unrestricted prompt cancel credit lines 228,376 877,304 3,659 745 17,519 1,127,603 1,467 26,818 194 206 9,844 38,529 1,089,074 Unrestricted credit lines - - - - - - - - - - - - - Student loans under Law N°20,027 for higher education (CAE) - - - - - - - - - - - - - Other irrevocable credit commitments 143,207 2,100 48,800 - 3,982 198,089 1,377 59 - - 2,138 3,574 194,515 Other contingent loans - - - - - - - - - - - - - Credit risk exposure from contingent loans As of December 31, 2025 (In Ch$mn) Contingent loan exposure before provisions Total Established provisions Total Net contingent loan risk exposure Normal portfolio Substandard Portfolio Impaired portfolio Normal portfolio Substandard Portfolio Impaired portfolio Assessment Assessment Assessment Assessment Assessment Assessment Individual Group Individual Individual Group Individual Group Individual Individual Group Personal guarantees 530,441 813 24,972 - - 556,226 2,296 20 2,735 - - 5,051 551,175 Letter of credits of merchandise traffic operations 48,152 246 1,431 - - 49,829 433 6 4 - - 443 49,386 Debt purchase commitments in local currencies abroad - - - - - - - - Transactions related to contingent events 890,582 21,879 19,598 7,392 300 939,751 12,632 490 1,350 3,361 165 17,998 921,753 Unrestricted prompt cancel credit lines 264,080 865,788 2,461 759 15,884 1,148,972 1,478 26,413 190 213 8,904 37,198 1,111,774 Unrestricted credit lines - - - - - - - - - - - - - Student loans under Law N°20,027 for higher education (CAE) - - - - - - - - - - - - - Other irrevocable credit commitments 183,564 3 63,000 - - 246,567 1,692 1 - - - 1,693 244,874 Other contingent loans - - - - - - - - - - - - - Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 83
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued f. Breakdown of movement in established provisions - Interbank loans A summary of the movements of established provisions for Interbank loans, as of March 31, 2026, and December 31, 2025 , is as follows: Breakdown of movement in established for credit risk portfolio during the period As of March 31, 2026 (In Ch$mn) Movement in established provisions by portfolio for the period Individual assessment Normal Substandard Impaired Total Portfolio Portfolio portfolio Interbank loans Balance as of January 1, 2026 107 - - 107 Provision establishment/(release) by: Change in measurement without portfolio reclassifying during the period: - - - - Change in measurement due to portfolio reclassifying from the beginning to the end of the period [portfolio from (-) to (+)]: Individual Normal to Substandard - - - - Individual Normal to Individual Impaired - - - - Substandard to Individual Impaired - - - - Substandard to Individual Normal - - - - Individual Impaired to Substandard - - - - Individual Impaired to Individual Normal - - - - New loans originated 51 - - 51 New loans due to translation from contingent to loan - - - - New loans purchased - - - - Sale or assignment of loans - - - - Release due to loan payment (107) - - (107) Provision application for charge-offs - - - - Recovery of impaired loans - - - - Exchange rate difference 3 - - 3 Other changes in provisions - - - - Balance as of March 31, 2026 54 - - 54 Breakdown of movement in established for credit risk portfolio during the period As of December 31, 2025 (In Ch$mn) Movement in established provisions by portfolio for the period Individual assessment Normal Substandard Impaired Total Portfolio Portfolio portfolio Interbank loans Balance as of January 1, 2025 25 - - 25 Provision establishment/(release) by: Change in measurement without portfolio reclassifying during the period: - - - - Change in measurement due to portfolio reclassifying from the beginning to the end of the period [portfolio from (-) to (+)]: Individual Normal to Substandard - - - - Individual Normal to Individual Impaired - - - - Substandard to Individual Impaired - - - - Substandard to Individual Normal - - - - Individual Impaired to Substandard - - - - Individual Impaired to Individual Normal - - - - New loans originated 381 - - 381 New loans due to translation from contingent to loan - - - - New loans purchased - - - - Sale or assignment of loans - - - - Release due to loan payment (292) - - (292) Provision application for charge-offs - - - - Recovery of impaired loans - - - - Exchange rate difference (7) - - (7) Other changes in provisions - - - - Balance as of December 31, 2025 107 - - 107 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 84
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued g. Breakdown of movement in established provisions - Commercial Loans A summary of the movements of established provisions for Commercial Loans, as of March 31, 2026, and December 31, 2025 , is as follows: Breakdown of movement in established provisions for credit risk portfolio during the period As of March 31, 2026 (In Ch$mn) Movement in established provisions by portfolio for the period Normal portfolio Substandard Portfolio Impaired portfolio Subtotal Deductible FOGAPE Covid-19 guarantees TotalAssessment Assessment Individual Group Individual Group Commercial loans Balance as of January 1, 2026 124,192 76,229 68,212 246,174 199,632 714,439 2,196 716,635 Provision establishment/(release) by: Change in measurement without portfolio reclassifying during the period: 8,273 27,964 21,549 20,579 7,902 86,267 3 86,270 Change in measurement due to portfolio reclassifying from the beginning to the end of the period [portfolio from (-) to (+)]: Individual Normal to Substandard (2,852) – 4,293 – – 1,441 11 1,452 Individual Normal to Individual Impaired – – – – – – – – Substandard to Individual Impaired – – (24,255) 47,233 – 22,978 – 22,978 Substandard to Individual Normal 332 – (671) – – (339) – (339) Individual Impaired to Substandard – – – – – – – – Individual Impaired to Individual Normal – – – – – – – – Group normal to Group Impaired – (10,098) – – 22,512 12,414 10 12,424 Group Impaired to Group normal – 596 – – (6,879) (6,283) 1 (6,282) Individual (Normal, Substandard, Impaired) to Group (Normal, Impaired) (560) – (408) (36) – (1,004) – (1,004) Group (Normal, Impaired) to Individual (Normal, Substandard, Impaired) – 432 – – 20 452 6 458 New loans originated 72,664 10,818 – – – 83,482 660 84,142 New loans due to translation from contingent to loan 201 347 – – – 548 – 548 New loans purchased – – – – – – – – Sale or assignment of loans – – – (14,503) – (14,503) – (14,503) Release due to loan payment (78,143) (26,718) (9,216) (35,905) (46,680) (196,662) (1,868) (198,530) Provision application for charge-offs – (72) – 27,754 25,338 53,020 – 53,020 Recovery of impaired loans – – – – – – – – Changes in models and methodologies – – – – – – – – Exchange rate difference 1,683 87 (75) 6,511 164 8,370 – 8,370 Other changes in provisions – – – – – – – – Balance as of March 31, 2026 125,790 79,585 59,429 297,807 202,009 764,620 1,019 765,639 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 85
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued Breakdown of movement in established provisions for credit risk portfolio during the period As of December 31, 2025 (In Ch$mn) Movement in established provisions by portfolio for the period Normal portfolio Substandard Portfolio Impaired portfolio Subtotal Deductible FOGAPE Covid-19 guarantees TotalAssessment Assessment Individual Group Individual Group Commercial loans Balance as of January 1, 2025 127,450 72,871 37,889 272,648 190,263 701,121 4,310 705,431 Provision establishment/(release) by: Change in measurement without portfolio reclassifying during the period: 43,718 102,209 29,764 31,279 108,363 315,333 14 315,347 Change in measurement due to portfolio reclassifying from the beginning to the end of the period [portfolio from (-) to (+)]: Individual Normal to Substandard (21,010) - 37,957 - - 16,947 43 16,990 Individual Normal to Individual Impaired (76) - - 471 - 395 - 395 Substandard to Individual Impaired - - (17,317) 46,320 - 29,003 - 29,003 Substandard to Individual Normal 1,118 - (1,981) - - (863) 23 (840) Individual Impaired to Substandard - - 278 (976) - (698) - (698) Individual Impaired to Individual Normal - - - - - - - - Group normal to Group Impaired - (36,747) - - 78,619 41,872 102 41,974 Group Impaired to Group normal - 1,901 - - (28,291) (26,390) 10 (26,380) Individual (Normal, Substandard, Impaired) to Group (Normal, Impaired) 2,572 - (1,402) (731) - 439 55 494 Group (Normal, Impaired) to Individual (Normal, Substandard, Impaired) (27) (1,222) - - 2,133 884 30 914 New loans originated 315,076 48,189 - - - 363,265 2,260 365,525 New loans due to translation from contingent to loan 1,716 1,868 - - - 3,584 - 3,584 New loans purchased - - - - - - - - Sale or assignment of loans (331) - - - - (331) - (331) Release due to loan payment (341,267) (112,619) (14,956) (258,807) (286,083) (1,013,732) (4,651) (1,018,383) Provision application for charge-offs - - - 164,865 135,068 299,933 - 299,933 Recovery of impaired loans - - - - - - - - Changes in models and methodologies - - - - - - - - Exchange rate difference (4,747) (221) (2,020) (8,895) (440) (16,323) - (16,323) Other changes in provisions - - - - - - - - Balance as of December 31, 2025 124,192 76,229 68,212 246,174 199,632 714,439 2,196 716,635 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 86
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued h. Breakdown of movement in established provisions – Residential Mortgage loans A summary of the movements of established provisions for Residential Mortgage Loans, as of March 31, 2026, and December 31, 2025 , is as follows: Breakdown of movement in established provisions for credit risk portfolio during the period As of March 31, 2026 (In Ch$mn) Movement in established provisions by portfolio for the period Group Assessment Total Normal Portfolio Impaired portfolio Residential Mortgage loans Balance as of January 1, 2026 35,562 149,476 185,038 Provision establishment/(release) by: Change in measurement without portfolio reclassifying during the period: 13,044 16,949 29,993 Change in measurement due to portfolio reclassifying from the start to the end of the period [portfolio from (-) to (+)]: Group normal to group impaired (2,232) 9,361 7,129 Group impaired to Group normal 456 (4,356) (3,900) New loans originated 197 - 197 New loans purchased - - - Sale or assignment of loans - (145) (145) Release due to loan payment (11,783) (35,846) (47,629) Provision application for charge-offs - 16,508 16,508 Recovery of impaired loans - - - Changes in models and methodologies - - - Exchange rate difference - - - Other changes in provisions - - - Balance as of March 31, 2026 35,244 151,947 187,191 Breakdown of movement in established provisions for credit risk portfolio during the period As of December 31, 2025 (In Ch$mn) Movement in established provisions by portfolio for the period Group Assessment Total Normal Portfolio Impaired portfolio Residential Mortgage loans Balance as of January 1, 2025 34,462 126,709 161,171 Provision establishment/(release) by: Change in measurement without portfolio reclassifying during the period: 55,383 102,055 157,438 Change in measurement due to portfolio reclassifying from the start to the end of the period [portfolio from (-) to (+)]: Group normal to group impaired (8,636) 36,670 28,034 Group impaired to Group normal 1,471 (15,140) (13,669) New loans originated 2,557 - 2,557 New loans purchased - - - Sale or assignment of loans - - - Release due to loan payment (49,675) (162,942) (212,617) Provision application for charge-offs - 62,124 62,124 Recovery of impaired loans - - - Changes in models and methodologies - - - Exchange rate difference - - - Other changes in provisions - - - Balance as of December 31, 2025 35,562 149,476 185,038 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 87
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued i. Breakdown of movement in established provisions – Consumer Loans A summary of the movements of established provisions for Consumer Loans, as of March 31, 2026, and December 31, 2025 , is as follows: Breakdown of movement in established provisions for credit risk portfolio during the period As of March 31, 2026 (In Ch$mn) Movement in established provisions by portfolio for the period Group Assessment Total Normal portfolio Impaired portfolio Consumer loans Balance as of January 1, 2026 254,353 185,073 439,426 Provision establishment/(release) by: Change in measurement without portfolio reclassifying during the period: 110,313 13,589 123,902 Change in measurement due to portfolio reclassifying from the beginning to the end of the period [portfolio from (-) to (+)]: Group normal to Group impaired (49,363) 69,475 20,112 Group impaired to Group normal 4,091 (11,827) (7,736) New loans originated 21,556 - 21,556 New loans due to translation from contingent to loan 5,990 - 5,990 New loans purchased - - - Sale or assignment of loans - - - Release due to loan payment (94,505) (183,116) (277,621) Provision application for charge-offs - 109,097 109,097 Recovery of impaired loans - - - Changes in models and methodologies - - - Exchange rate difference 73 (3) 70 Other changes in provisions - - - Balance as of March 31, 2026 252,508 182,288 434,796 Breakdown of movement in established provisions for credit risk portfolio during the period As of December 31, 2025 (In Ch$mn) Movement in established provisions by portfolio for the period Group Assessment Total Normal portfolio Impaired portfolio Consumer loans Balance as of January 1, 2025 168,211 179,508 347,719 Provision establishment/(release) by: Change in measurement without portfolio reclassifying during the period: 520,322 95,267 615,589 Change in measurement due to portfolio reclassifying from the beginning to the end of the period [portfolio from (-) to (+)]: Group normal to Group impaired (178,167) 238,487 60,320 Group impaired to Group normal 10,402 (39,171) (28,769) New loans originated 108,914 - 108,914 New loans due to translation from contingent to loan 20,677 - 20,677 New loans purchased - - - Sale or assignment of loans - - - Release due to loan payment (395,766) (638,820) (1,034,586) Provision application for charge-offs 349,805 349,805 Recovery of impaired loans - - - Changes in models and methodologies - - - Exchange rate difference (240) (3) (243) Other changes in provisions - - - Balance as of December 31, 2025 254,353 185,073 439,426 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 88
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued j. Breakdown of movement in established provisions – Contingent Loans A summary of the movements of established provisions for Contingent Loans, as of March 31, 2026, and December 31, 2025 , is as follows: Breakdown of movement in provisions established for credit risk portfolio during the period As of March 31, 2026 (In Ch$mn) Movement in established provisions by portfolio for the period Normal portfolio Substandard Portfolio Impaired portfolio TotalAssessment Assessment Individual Group Individual Group Contingent loan exposure Balance as of January 1, 2026 18,532 26,923 4,283 3,572 9,073 62,383 Provision establishment/(release) by: Change in measurement without portfolio reclassifying during the period: 653 4,527 63 193 246 5,682 Change in measurement due to portfolio reclassifying from the beginning to the end of the period [portfolio from (-) to (+)]: Individual Normal to Substandard (38) - 93 - - 55 Individual Normal to Individual Impaired - - - - - - Substandard to Individual Impaired - - (2) 34 - 32 Substandard to Individual Normal 10 - (17) - - (7) Individual Impaired to Substandard - - - - - - Individual Impaired to Individual Normal - - - (1) - (1) Group Normal to Group Impaired - (241) - - 3,811 3,570 Group Impaired to Group Normal - 15 - - (1,501) (1,486) Individual (Normal, Substandard, Impaired) to Group (Normal, Impaired) 14 - (40) - - (26) Group (Normal, Impaired) to Individual (Normal, Substandard, Impaired) - 23 - - - 23 New contingent loans granted 5,236 1,367 - - - 6,603 Release due to loan payment (5,731) (5,629) (928) (764) 203 (12,849) Contingent loans from translation to loans 4 97 3 - 117 221 Changes in models and methodologies - - - - - - Exchange rate difference 227 310 53 5 116 711 Other changes in provisions - Balance as of March 31, 2026 18,907 27,392 3,508 3,039 12,065 64,911 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 89
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued Breakdown of movement in provisions established for credit risk portfolio during the period As of December 31, 2025 (In Ch$mn) Movement in established provisions by portfolio for the period Normal portfolio Substandard Portfolio Impaired portfolio TotalAssessment Assessment Individual Group Individual Group Contingent loan exposure Balance as of January 1, 2025 16,723 8,218 5,502 4,900 9,419 44,762 Provision establishment/(release) by: Change in measurement without portfolio reclassifying during the period: 3,539 37,252 462 228 945 42,426 Change in measurement due to portfolio reclassifying from the beginning to the end of the period [portfolio from (-) to (+)]: Individual Normal to Substandard (455) - 723 - - 268 Individual Normal to Individual Impaired - - - 1 - 1 Substandard to Individual Impaired - - (156) 945 - 789 Substandard to Individual Normal 289 - (568) - - (279) Individual Impaired to Substandard - - - (4) - (4) Individual Impaired to Individual Normal - - - (9) - (9) Group Normal to Group Impaired - (787) - - 12,440 11,653 Group Impaired to Group Normal - 47 - - (5,197) (5,150) Individual (Normal, Substandard, Impaired) to Group (Normal, Impaired) (34) - (50) (15) - (99) Group (Normal, Impaired) to Individual (Normal, Substandard, Impaired) - 22 - - 3 25 New contingent loans granted 22,867 6,821 - - - 29,688 Release due to loan payment (24,098) (24,143) (1,366) (2,504) (8,645) (60,756) Contingent loans from translation to loans 191 393 38 45 394 1,061 Changes in models and methodologies - - - - - - Exchange rate difference (490) (940) (302) (15) (286) (2,033) Other changes in provisions - 40 - - - 40 Balance as of December 31, 2025 18,532 26,923 4,283 3,572 9,073 62,383 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 90
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued k. Concentration of loans by economic activity The breakdown of loans by economic activity as of March 31, 2026, and December 31, 2025, is as follows: Composition of economic activity for loans, contingent loan exposure and accrued provision As of March 31, 2026 (In Ch$mn) Loans and contingent loan exposures Established provisions Loans Total Loans Total Domestic Loans Foreign loans Domestic Loans Foreign loans Interbank loans - 52,494 52,494 - 54 54 Commercial loans Agriculture and livestock 541,271 3 541,274 43,538 1 43,539 Fruticulture 524,611 735 525,346 41,679 13 41,692 Forestry 160,623 3 160,626 8,293 - 8,293 Fishing 286,456 19 286,475 10,880 - 10,880 Mining 355,178 - 355,178 60,940 - 60,940 Oil and natural gas 23,698 - 23,698 197 - 197 Manufacturing Food, beverages and tobacco 427,832 49 427,881 17,225 1 17,226 Textile, leather and footwear 88,331 997 89,328 4,817 138 4,955 Wood and furniture 80,920 - 80,920 3,371 - 3,371 Pulp, paper and printing 78,949 - 78,949 2,336 - 2,336 Chemicals and oil products 125,430 - 125,430 4,297 - 4,297 Metallic, non-metallic, machinery, or other 381,598 - 381,598 20,256 - 20,256 Other manufacturing 251,569 363 251,932 10,522 16 10,538 Electricity, gas and water 649,162 - 649,162 7,919 - 7,919 Housing construction 286,242 - 286,242 5,165 - 5,165 Non-housing construction (office, civil works) 496,582 2,325 498,907 10,294 99 10,393 Wholesale commerce 1,822,725 10,896 1,833,621 127,247 63 127,310 Retail trade, restaurants and hotels 1,777,404 546 1,777,950 86,883 26 86,909 Transport and storage 707,019 29 707,048 24,935 1 24,936 Telecommunications 658,882 1 658,883 8,585 - 8,585 Financial services 571,383 1,316 572,699 4,218 23 4,241 Business services - - - - - - Real estate services 2,310,509 - 2,310,509 49,803 - 49,803 Student Loans - - - - - - Public administration, defense and police - - - - - - Social and other communal services 4,751,656 11,942 4,763,598 211,630 228 211,858 Personal services - - - - - - Subtotal 17,358,030 29,224 17,387,254 765,030 609 765,639 Residential Mortgage loans 17,349,582 3,972 17,353,554 187,146 45 187,191 Consumer loans 6,103,598 1,227 6,104,825 434,687 109 434,796 Contingent loan exposure 2,818,398 50,932 2,869,330 64,820 91 64,911 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 91
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued Composition of economic activity for loans, contingent loan exposure and accrued provision As of December 31, 2025 (In Ch$mn) Loans and contingent loan exposures Established provisions Loans Total Loans Total Domestic Loans Foreign loans Domestic Loans Foreign loans Interbank loans - 68,178 68,178 - 107 107 Commercial loans Agriculture and livestock 523,138 2 523,140 39,591 - 39,591 Fruticulture 512,380 827 513,207 37,072 14 37,086 Forestry 160,876 3 160,879 8,543 - 8,543 Fishing 286,463 - 286,463 9,878 - 9,878 Mining 390,801 - 390,801 11,863 - 11,863 Oil and natural gas 13,801 - 13,801 160 - 160 Manufacturing Food, beverages and tobacco 400,783 28 400,811 13,642 - 13,642 Textile, leather and footwear 89,588 888 90,476 4,856 123 4,979 Wood and furniture 84,998 - 84,998 3,276 - 3,276 Pulp, paper and printing 75,208 - 75,208 2,356 - 2,356 Chemicals and oil products 138,793 - 138,793 4,258 - 4,258 Metallic, non-metallic, machinery, or other 375,346 - 375,346 19,753 - 19,753 Other manufacturing 253,931 391 254,322 9,787 17 9,804 Electricity, gas and water 721,401 - 721,401 8,823 - 8,823 Housing construction 257,777 - 257,777 5,123 - 5,123 Non-housing construction (office, civil works) 488,291 2,286 490,577 11,117 98 11,215 Wholesale commerce 1,804,136 10,466 1,814,602 119,995 54 120,049 Retail trade, restaurants and hotels 1,774,663 530 1,775,193 86,358 23 86,381 Transport and storage 691,552 51 691,603 23,533 13 23,546 Telecommunications 641,742 1 641,743 7,105 - 7,105 Financial services 505,452 3,072 508,524 4,619 7 4,626 Business services - - - - Real estate services 2,363,132 - 2,363,132 67,198 - 67,198 Student Loans - - - - - - Public administration, defense and police - - - - - - Social and other communal services 4,780,847 10,191 4,791,038 217,178 202 217,380 Personal services - - - - - - Subtotal 17,335,099 28,736 17,363,835 716,084 551 716,635 Residential Mortgage loans 17,439,847 3,716 17,443,563 184,997 41 185,038 Consumer loans 6,056,069 1,235 6,057,304 439,337 89 439,426 Contingent loan exposure 2,898,473 42,872 2,941,345 62,257 126 62,383 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 92
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued l. Residential mortgage loans and their provisions by the range of outstanding loan principal over the value of the mortgage collateral (LTV) and days past due, respectively: Residential mortgage loans and their provisions as of March 31, 2026, and December 31, 2025, are as follows: As of March 31, 2026 Loan / Collateral Value (%) Residential Mortgage loans (Ch$mn) Provisions established for Residential Mortgage Loans (Ch$mn) Days past due at the end of the period Days past due at the end of the period 0 1 to 29 30 to 59 60 to 89 >= 90 Total 0 1 to 29 30 to 59 60 to 89 >= 90 Total LTV <= 40% 1,729,278 8,780 54,052 3,443 38,927 1,834,480 3,179 137 1,922 185 4,908 10,331 40% < LTV <= 80% 12,620,039 28,393 573,441 10,588 437,180 13,669,641 38,903 700 24,054 670 77,190 141,517 80% < LTV <= 90% 1,240,661 30 64,359 150 64,009 1,369,209 7,484 7 3,655 19 13,357 24,522 LTV > 90% 439,442 517 17,253 259 22,753 480,224 2,984 34 1,282 25 6,496 10,821 Total 16,029,420 37,720 709,105 14,440 562,869 17,353,554 52,550 878 30,913 899 101,951 187,191 As of December 31, 2025 Loan / Collateral Value (%) Residential Mortgage loans (Ch$mn) Provisions established for Residential Mortgage Loans (Ch$mn) Days past due at the end of the period Days past due at the end of the period 0 1 to 29 30 to 59 60 to 89 >= 90 Total 0 1 to 29 30 to 59 60 to 89 >= 90 Total LTV <= 40% 1,703,743 9,198 37,867 21,440 36,532 1,808,780 3,145 160 1,223 977 4,662 10,167 40% < LTV <= 80% 12,693,667 30,917 380,597 210,722 417,396 13,733,299 39,242 763 13,547 11,497 75,618 140,667 80% < LTV <= 90% 1,260,997 83 43,003 27,054 55,971 1,387,108 7,619 12 2,080 1,799 12,161 23,671 LTV > 90% 473,056 588 13,255 6,949 20,528 514,376 3,085 79 970 614 5,785 10,533 Total 16,131,463 40,786 474,722 266,165 530,427 17,443,563 53,091 1,014 17,820 14,887 98,226 185,038 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 93
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued m. Interbank commercial loans and their provisions established by classification category The distribution of provisions by classification category for interbank and commercial loans as of March 31, 2026, and December 31, 2025, are as follows: Distribution of provisions by classification category for interbank and commercial loans as of March 31, 2026 (in Ch$mn) Interbank loans and commercial loans payable to the bank Total Deductibl e provision for FOGAPE Covid-19 guarantee s Assessment Individual Group Normal portfolio Substandard Portfolio Impaired portfolio Total Normal Impaired Total A1 A2 A3 A4 A5 A6 Subtotal B1 B2 B3 B4 Subtotal C1 C2 C3 C4 C5 C6 Subtotal portfolio Portfolio Interbank loans Interbank liquidity loans - - - - - - - - - - - - - - - - - - - - - - - - - Commercial interbank loans - - - - - - - - - - - - - - - - - - - - - - - - - Current account overdrafts - - - - - - - - - - - - - - - - - - - - - - - - - Foreign trade loans Chilean exports 17,798 21,084 13,612 - - - 52,494 - - - - - - - - - - - - 52,494 - - - 52,494 - Foreign trade loans Chilean imports - - - - - - - - - - - - - - - - - - - - - - - - - Foreign trade loans between third countries - - - - - - - - - - - - - - - - - - - - - - - - - Non-transferable deposits with banks - - - - - - - - - - - - - - - - - - - - - - - - - Other loans with banks - - - - - - - - - - - - - - - - - - - - - - - - - Subtotal 17,798 21,084 13,612 - - - 52,494 - - - - - - - - - - - - 52,494 - - - 52,494 - Established provisions 7 17 30 - - - 54 - - - - - - - - - - - - 54 - - - 54 - % Established provisions 0.04% 0.08 0.22% – – – 0.10% – – – – – – – – – – – – 0.10 % – – – 0.10 % – Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 94
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued Distribution of provisions by classification category for interbank and commercial loans as of March 31, 2026 (in Ch$mn) Interbank loans and commercial loans payable to the bank Total Deductib le provision for FOGAPE Covid-19 guarante es Assessment Individual Group Normal portfolio Substandard Portfolio Impaired portfolio Total Normal Impaired Total A1 A2 A3 A4 A5 A6 Subtotal B1 B2 B3 B4 Subtotal C1 C2 C3 C4 C5 C6 Subtotal portfolio Portfolio Commercial loans Commercial loans - 482,523 1,217,808 1,726,330 1,857,966 1,411,742 6,696,369 707,052 118,284 86,641 136,448 1,048,425 171,747 111,477 59,757 131,100 65,297 120,012 659,390 8,404,184 4,562,610 505,875 5,068,485 13,472,669 1,016 Foreign trade loans Chilean exports - 26,625 118,251 264,480 164,576 139,905 713,837 27,333 12,004 - 3,425 42,762 1,408 2,787 - 5,039 2,299 42,086 53,619 810,218 13,093 2,663 15,756 825,974 - Foreign trade loans Chilean imports - - 110,102 296,665 243,568 115,246 765,581 34,177 4,411 3,419 - 42,007 285 97 - 435 5,094 6,429 12,340 819,928 80,519 3,656 84,175 904,103 - Foreign trade loans between third countries - - - 2,040 - 223 2,263 996 - - - 996 - - - - - - - 3,259 - - - 3,259 - Debtors with current accounts - 4,587 8,640 16,194 9,763 6,563 45,747 4,441 281 135 578 5,435 231 149 21 342 214 428 1,385 52,567 31,497 7,516 39,013 91,580 - Credit card debtors - 1,807 6,225 11,552 8,448 4,901 32,933 2,091 301 220 147 2,759 163 80 - 32 110 292 677 36,369 119,722 12,548 132,270 168,639 - Factoring transactions - 51,651 418,623 180,389 88,155 53,227 792,045 20,657 1,248 1,096 - 23,001 - 22 205 2,285 13 2,545 5,070 820,116 25,736 4,251 29,987 850,103 - Commercial leasing transactions 1,042 2,892 127,761 225,336 176,288 132,965 666,284 61,297 13,597 9,147 15,987 100,028 14,751 9,381 4,498 9,287 3,294 400 41,611 807,923 142,103 9,564 151,667 959,590 3 Student loans - - - - - - - - - - - - - - - - - - - - 21,272 6,337 27,609 27,609 - Other loans and receivables - 398 1,839 1,867 653 798 5,555 524 26 16 25 591 143 267 26 68 662 1,149 2,315 8,461 66,272 8,995 75,267 83,728 - Subtotal 1,042 570,483 2,009,249 2,724,853 2,549,417 1,865,570 9,720,614 858,568 150,152 100,674 156,610 1,266,004 188,728 124,260 64,507 148,588 76,983 173,341 776,407 11,763,025 5,062,824 561,405 5,624,229 17,387,254 1,019 Established provisions - 852 3,343 21,119 44,391 56,085 125,790 27,018 6,467 8,820 17,124 59,429 3,775 12,426 16,127 59,435 50,039 156,005 297,807 483,026 79,585 202,009 281,594 764,620 1,019 % Established provisions —% 0.15% 0.17% 0.78% 1.74% 3.01% 1.29% 3.15% 4.31% 8.76% 10.93% 4.69% 2.00% 10.00% 25.00% 40.00% 65.00% 90.00% 38.36% 4.11% 1.57% 35.98% 5.01% 4.40% 100.00% Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 95
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued Distribution of provisions by classification category for interbank and commercial loans as of December 31, 2025 (in Ch$mn) Interbank loans and commercial loans payable to the bank Total Deductibl e provision for FOGAPE Covid-19 guarantee s Assessment Individual Group Normal portfolio Substandard Portfolio Impaired portfolio Total Normal Impaired Total A1 A2 A3 A4 A5 A6 Subtotal B1 B2 B3 B4 Subtotal C1 C2 C3 C4 C5 C6 Subtotal portfoli o Portfolio Interbank loans Interbank liquidity loans - - - - - - - - - - - - - - - - - - - - - - - - - Commercial interbank loans - - - - - - - - - - - - - - - - - - - - - - - - - Current account overdrafts - - - - - - - - - - - - - - - - - - - - - - - - - Foreign trade loans Chilean exports 103 30,556 37,519 - - - 68,178 - - - - - - - - - - - - 68,178 - - - 68,178 - Foreign trade loans Chilean imports - - - - - - - - - - - - - - - - - - - - - - - - - Foreign trade loans between third countries - - - - - - - - - - - - - - - - - - - - - - - - - Non-transferable deposits with banks - - - - - - - - - - - - - - - - - - - - - - - - - Other loans with banks - - - - - - - - - - - - - - - - - - - - - - - - - Subtotal 103 30,556 37,519 - - - 68,178 - - - - - - - - - - - - 68,178 - - - 68,178 - Established provisions - 25 82 - - - 107 - - - - - - - - - - - - 107 - - - 107 - % Established provisions —% - 0.22% - - - 0.16% - - - - - - - - - - - - 0.16% - - - 0.16% - Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 96
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued Distribution of provisions by classification category for interbank and commercial loans as of December 31, 2025 (in Ch$mn) Interbank loans and commercial loans payable to the bank Total Deductibl e provision for FOGAPE Covid-19 guarantee s Assessment Individual Group Normal portfolio Substandard Portfolio Impaired portfolio Total Normal Impaire d Total A1 A2 A3 A4 A5 A6 Subtotal B1 B2 B3 B4 Subtotal C1 C2 C3 C4 C5 C6 Subtotal portfolio Portfoli o Commercial loans Commercial loans - 376,102 1,175,111 1,695,348 1,854,837 1,450,679 6,552,077 788,346 102,249 102,894 137,124 1,130,613 148,628 109,432 80,015 115,050 67,045 101,319 621,489 8,304,179 4,501,522 484,924 4,986,446 13,290,625 2,191 Foreign trade loans Chilean exports - 104,199 105,049 263,899 154,572 141,785 769,504 61,516 9,768 - 4,310 75,594 133 1,994 - 4,892 1,541 4,715 13,275 858,373 8,587 2,984 11,571 869,944 - Foreign trade loans Chilean imports - - 128,720 288,955 247,417 116,592 781,684 29,356 7,978 610 - 37,944 286 38 - 2,198 3,602 9,338 15,462 835,090 73,088 3,750 76,838 911,928 - Foreign trade loans between third countries - - 3,072 272 - 209 3,553 888 - - - 888 - - - - - - - 4,441 - - - 4,441 - Debtors with current accounts - 3,917 17,134 14,318 18,308 11,388 65,065 3,788 313 37 223 4,361 275 180 20 26 245 406 1,152 70,578 30,698 6,932 37,630 108,208 - Credit card debtors - 1,692 3,128 9,378 7,719 5,232 27,149 1,808 172 155 152 2,287 266 50 1 49 119 273 758 30,194 112,834 11,183 124,017 154,211 - Factoring transactions 1,210 61,121 420,729 196,558 143,509 57,418 880,545 16,066 3,441 668 335 20,510 - 66 222 1,972 2 2,543 4,805 905,860 27,722 4,063 31,785 937,645 - Commercial leasing transactions 2,020 3,270 133,781 215,401 181,626 144,406 680,504 60,416 12,009 16,463 11,450 100,338 13,059 9,767 8,042 8,511 906 263 40,548 821,390 144,261 10,095 154,356 975,746 5 Student loans - - - - - - - - - - - - - - - - - - - - 22,817 6,953 29,770 29,770 - Other loans and receivables - 753 1,814 2,335 931 430 6,263 270 27 10 6 313 318 264 45 68 695 410 1,800 8,376 63,549 9,392 72,941 81,317 - Subtotal 3,230 551,054 1,988,538 2,686,464 2,608,919 1,928,139 9,766,344 962,454 135,957 120,837 153,600 1,372,848 162,965 121,791 88,345 132,766 74,155 119,267 699,289 11,838,481 4,985,078 540,276 5,525,354 17,363,835 2,196 Established provisions - 940 3,257 21,072 44,864 54,059 124,192 39,315 4,965 9,356 14,576 68,212 3,260 12,179 22,086 53,106 48,202 107,341 246,174 438,578 76,229 199,632 275,861 714,439 2,196 % Established provisions —% 0.17% 0.16% 0.78% 1.72% 2.80% 1.27% 4.08% 3.65% 7.74% 9.49% 4.97% 2.00% 10.00% 25.00% 40.00% 65.00% 90.00% 35.20% 3.70% 1.53% 36.95% 4.99% 4.11% 100.00% Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 97
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued n. Loans and their established provisions by the number of days past due Distribution of credit risk by days overdue as of March 31, 2026, and December 31, 2025, is as follows: Distribution of credit risk by days past due As of March 31, 2026 (Ch$mn) Loan exposure before provisions Total Established provisions Subtotal Deductibl e FOGAPE Covid-19 guarantee s Total Net financial assets Normal portfolio Substandard Portfolio Impaired portfolio Normal portfolio Substandard Portfolio Impaired portfolio Assessment Assessment Assessment Assessment Assessment Assessment Individual Group Individual Individual Group Individual Group Individual Individual Group Interbank loans 0 days 52,494 - - - - 52,494 54 - - - - 54 - 54 52,440 1 to 29 days - - - - - - - - - - - - - - - 30 to 59 days - - - - - - - - - - - - - - - 60 to 89 days - - - - - - - - - - - - - - - > = 90 days - - - - - - - - - - - - - - - Subtotal 52,494 - - - - 52,494 54 - - - - 54 - 54 52,440 Commercial loans 0 days 9,656,356 4,853,432 1,201,841 296,114 100,398 16,108,141 124,524 56,715 57,111 82,130 33,563 354,043 940 354,983 15,753,158 1 to 29 days 58,980 71,400 37,354 33,996 8,896 210,626 1,248 4,233 1,230 18,656 3,282 28,649 24 28,673 181,953 30 to 59 days 5,278 116,391 19,590 94,618 80,671 316,548 18 14,807 626 57,758 29,093 102,302 10 102,312 214,236 60 to 89 days - 21,601 7,219 57,118 15,632 101,570 - 3,830 462 17,083 6,270 27,645 8 27,653 73,917 > = 90 days - - - 294,561 355,808 650,369 - - - 122,180 129,801 251,981 37 252,018 398,351 Subtotal 9,720,614 5,062,824 1,266,004 776,407 561,405 17,387,254 125,790 79,585 59,429 297,807 202,009 764,620 1,019 765,639 16,621,615 Residential Mortgage loans 0 days - 15,734,415 - - 295,005 16,029,420 - 26,347 - - 26,203 52,550 - 52,550 15,976,870 1 to 29 days - 30,096 - - 7,624 37,720 - 170 - - 708 878 - 878 36,842 30 to 59 days - 457,669 - - 251,436 709,105 - 8,606 - - 22,307 30,913 - 30,913 678,192 60 to 89 days - 5,522 - - 8,918 14,440 - 121 - - 778 899 - 899 13,541 > = 90 days - - - - 562,869 562,869 - - - - 101,951 101,951 - 101,951 460,918 Subtotal - 16,227,702 - - 1,125,852 17,353,554 - 35,244 - - 151,947 187,191 - 187,191 17,166,363 Consumer loans 0 days - 5,539,860 - - 101,903 5,641,763 - 188,267 - - 51,706 239,973 - 239,973 5,401,790 1 to 29 days - 122,721 - - 23,135 145,856 - 21,801 - - 11,587 33,388 - 33,388 112,468 30 to 59 days - 81,422 - - 29,217 110,639 - 23,982 - - 14,288 38,270 - 38,270 72,369 60 to 89 days - 42,287 - - 27,260 69,547 - 18,458 - - 13,868 32,326 - 32,326 37,221 > = 90 days - - - - 137,020 137,020 - - - - 90,839 90,839 - 90,839 46,181 Subtotal - 5,786,290 - - 318,535 6,104,825 - 252,508 - - 182,288 434,796 - 434,796 5,670,029 Total loans 9,773,108 27,076,816 1,266,004 776,407 2,005,792 40,898,127 125,844 367,337 59,429 297,807 536,244 1,386,661 1,019 1,387,680 39,510,447 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 98
NOTE 13 - FINANCIAL ASSETS AT AMORTISED COST, continued Distribution of credit risk by days past due As of December 31, 2025 (Ch$mn) Loan exposure before provisions Total Established provisions Subtotal Deductibl e FOGAPE Covid-19 guarantee s Total Net financial assets Normal portfolio Substandard Portfolio Impaired portfolio Normal portfolio Substandard Portfolio Impaired portfolio Assessment Assessment Assessment Assessment Assessment Assessment Individual Group Individual Individual Group Individual Group Individual Individual Group Interbank loans 0 days 68,178 - - - - 68,178 107 - - - - 107 - 107 68,071 1 to 29 days - - - - - - - - - - - - - - - 30 to 59 days - - - - - - - - - - - - - - - 60 to 89 days - - - - - - - - - - - - - - - > = 90 days - - - - - - - - - - - - - - - Subtotal 68,178 - - - - 68,178 107 - - - - 107 - 107 68,071 Commercial loans 0 days 9,747,769 4,780,005 1,293,996 308,504 101,666 16,231,940 123,879 53,500 60,411 89,872 36,070 363,732 2,070 365,802 15,866,138 1 to 29 days 16,131 72,459 35,485 36,590 10,658 171,323 289 4,246 3,148 11,055 3,685 22,423 43 22,466 148,857 30 to 59 days 2,441 89,511 36,453 37,186 49,737 215,328 24 10,942 4,256 17,741 18,264 51,227 16 51,243 164,085 60 to 89 days 3 43,103 6,914 20,302 50,814 121,136 - 7,541 397 8,175 17,127 33,240 13 33,253 87,883 > = 90 days - - - 296,707 327,401 624,108 - - - 119,331 124,486 243,817 54 243,871 380,237 Subtotal 9,766,344 4,985,078 1,372,848 699,289 540,276 17,363,835 124,192 76,229 68,212 246,174 199,632 714,439 2,196 716,635 16,647,200 Residential Mortgage loans 0 days - 15,831,014 - - 300,449 16,131,463 - 26,177 - - 26,914 53,091 - 53,091 16,078,372 1 to 29 days - 32,181 - - 8,605 40,786 - 169 - - 845 1,014 - 1,014 39,772 30 to 59 days - 341,587 - - 133,135 474,722 - 5,678 - - 12,142 17,820 - 17,820 456,902 60 to 89 days - 138,360 - - 127,805 266,165 - 3,538 - - 11,349 14,887 - 14,887 251,278 > = 90 days - - - - 530,427 530,427 - - - - 98,226 98,226 - 98,226 432,201 Subtotal - 16,343,142 - - 1,100,421 17,443,563 - 35,562 - - 149,476 185,038 - 185,038 17,258,525 Consumer loans 0 days - 5,463,620 - - 92,246 5,555,866 - 185,865 - - 47,207 233,072 - 233,072 5,322,794 1 to 29 days - 140,170 - - 26,450 166,620 - 24,851 - - 13,356 38,207 - 38,207 128,413 30 to 59 days - 81,610 - - 27,519 109,129 - 25,171 - - 13,646 38,817 - 38,817 70,312 60 to 89 days - 44,698 - - 27,693 72,391 - 18,466 - - 14,384 32,850 - 32,850 39,541 > = 90 days - - - - 153,298 153,298 - - - - 96,480 96,480 - 96,480 56,818 Subtotal - 5,730,098 - - 327,206 6,057,304 - 254,353 - - 185,073 439,426 - 439,426 5,617,878 Total loans 9,834,522 27,058,318 1,372,848 699,289 1,967,903 40,932,880 124,299 366,144 68,212 246,174 534,181 1,339,010 2,196 1,341,206 39,591,674 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 99
NOTE 14 - INVESTMENTS IN ASSOCIATES AND OTHER COMPANIES The Interim Consolidated Statements of Financial Position include investments in companies of Ch$68,312 million and Ch$67,040 million, respectively as of March 31, 2026, and December 31, 2025, as follows: Ownership Investment value As of March 31, As of December 31, As of March 31, As of December 31, 2026 2025 2026 2025 % % Ch$mn Ch$mn Companies Centro de Compensación Automatizado S.A. 33.33 33.33 6,675 6,296 Sociedad Interbancaria de Depósito de Valores S.A. 29.29 29.29 3,474 3,361 Cámara de Compensación de Alto Valor S.A. 13.72 13.72 1,413 1,376 Administrador Financiero del Transantiago S.A. 20.00 20.00 2,182 2,060 Servicios de Infraestructura de Mercado OTC S.A. 12.48 12.48 1,873 1,890 Redbanc S.A. 33.43 33.43 5,919 5,748 Transbank S.A. 25.00 25.00 42,246 41,969 Subtotal 63,782 62,700 Minority investments Security Exchanges 4,510 4,328 Other 20 12 Subtotal 4,530 4,340 Total 68,312 67,040 The equity investments have been irrevocably designated at fair value through other comprehensive income and are therefore carried at the market value per IFRS 9 Financial Instruments. 1. Summary of financial information of Associates as of March 31, 2026, and December 31, 2025: As of March 31, 2026 As of December 31, 2025 Assets Liabilities Capital Profit (loss) Assets Liabilities Capital Profit (loss) Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Centro de Compensación Automatizado S.A. 23,136 3,822 18,215 1,099 22,268 3,980 12,266 6,022 Sociedad Interbancaria de Depósito de Valores S.A. 11,861 598 10,859 404 11,474 1 9,513 1,960 Cámara de Compensación de Alto Valor S.A. 11,450 1,662 9,526 262 11,209 1,607 8,021 1,581 Administrador Financiero del Transantiago S.A. 65,909 55,873 9,632 404 62,568 52,959 7,310 2,299 Servicios de Infraestructura de Mercado OTC S.A. 30,684 15,584 15,014 86 18,810 3,750 14,780 280 Redbanc S.A. 27,964 10,258 16,823 883 30,199 13,005 13,839 3,355 Transbank S.A. 1,453,512 1,284,530 169,900 -918 1,450,233 1,282,356 147,802 20,075 Total 1,624,516 1,372,327 249,969 2,220 1,606,761 1,357,658 213,531 35,572 2. Restrictions on the ability of the Associates to transfer funds to investors. There are no significant restrictions on the ability of associates to transfer funds to the Bank in the form of cash dividends or repayment of loans or advances. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 100
NOTE 14 - INVESTMENTS IN ASSOCIATES AND OTHER COMPANIES, continued 3. The movement in investments in companies is as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Initial book value 67,040 59,785 Acquisition of investments - - Sale of investments - - Participation in income 1,225 9,139 Dividends received - (3,385) Other equity adjustments (*) 47 1,501 Total 68,312 67,040 (*) This pertains to the market value of the investments in other companies in the country, as specified in the CASB. 4. The objective evidence indicated in IAS 28 ‘Investments in Associates and Joint Ventures’ has been evaluated, and no impairment of the Bank's investments has been detected. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 101
NOTE 15 - INTANGIBLE ASSETS The composition of this item as of March 31, 2026, and December 31, 2025, is as follows: As of March 31, 2026 Opening net balance January 1, 2026 Gross balance Accumulated amortization Net balance Ch$mn Ch$mn Ch$mn Ch$mn Software or computer programs 91,475 478,484 (395,368) 83,116 Total 91,475 478,484 (395,368) 83,116 As of December 31, 2025 Opening net balance January 1, 2025 Gross balance Accumulated amortization Net balance Ch$mn Ch$mn Ch$mn Ch$mn Software or computer programs 97,551 475,790 (384,315) 91,475 Total 97,551 475,790 (384,315) 91,475 The movement in intangible assets during the periods March 31, 2026, and December 31, 2025, is as follows: i. Gross balance Gross balances Software Development Computer Programs Ch$mn Balance as of January 1, 2026 475,790 Additions 2,978 Disposals - Impairments* (284) Reclassifications / Other - Balance as of March 31, 2026 478,484 Balance as of January 1, 2025 430,867 Additions 52,868 Disposals – Impairments (7,963) Reclassifications / Other 18 Balance as of December 31, 2025 475,790 (*) Corresponds to the carrying amount of intangible assets subject to obsolescence that were impaired during the 2025 period. See Note No. 40, Impairment of Non-Financial Assets. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 102
NOTE 15 - INTANGIBLE ASSETS, continued ii. Accumulated amortization Accumulated amortization Software Development Computer Programs Ch$mn Balance as of January 1, 2026 (384,315) amortization for the year (11,203) Withdrawals/disposals - Impairment* 150 Reclassifications / Other - Balance as of March 31, 2026 (395,368) Balance as of January 1, 2025 (342,198) amortization for the year (47,855) Withdrawals/disposals - Impairment 5,738 Reclassifications / Other - Balance as of December 31, 2025 (384,315) (*) Corresponds to the carrying amount of intangible assets subject to obsolescence that were impaired during the 2025 period. The Bank has no restrictions on intangibles as of March 31, 2026, and December 31, 2025. Additionally, no intangibles have been pledged as collateral for the fulfillment of obligations. Furthermore, there are no amounts payable for intangibles by the Bank as of the same dates. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 103
NOTE 16 - FIXED ASSETS The composition of this item as of March 31, 2026, and December 31, 2025, is as follows: Opening net balance January 1, 2026 As of March 31, 2026 Gross balance Accumulated depreciation Net balance Ch$mn Ch$mn Ch$mn Ch$mn Buildings 54,237 130,660 (78,180) 52,480 Land 11,344 11,344 - 11,344 Equipment 50,179 375,735 (332,383) 43,352 Other 63,195 136,601 (74,969) 61,632 Total 178,955 654,340 (485,532) 168,808 Opening net balance January 1, 2025 As of December 31, 2025 Gross balance Accumulated depreciation Net balance Ch$mn Ch$mn Ch$mn Ch$mn Buildings 92,537 130,683 (76,446) 54,237 Land 14,632 11,344 - 11,344 Equipment 66,356 374,632 (324,453) 50,179 Other 25,219 136,300 (73,105) 63,195 Total 198,744 652,959 (474,004) 178,955 The movement in fixed assets during the periods March 31, 2026, and December 31, 2025, is as follows: i. Gross balance 2026 Buildings Land Equipment Other Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Balance as of January 1, 2026 130,683 11,344 374,632 136,300 652,959 Additions 4 - 1,797 750 2,551 Other changes - - (694) (476) (1,170) Reclassifications / Other (27) - - 27 - Balance as of March 31, 2026 130,660 11,344 375,735 136,601 654,340 2025 Buildings Land Equipment Other Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Balance as of January 1, 2025 185,969 14,021 369,778 102,322 672,090 Additions 4,455 - 42,722 12,117 59,294 Other changes (58,137) (2,677) (6,119) (14,222) (81,155) Reclassifications / Other (1,604) - (31,749) 36,083 2,730 Balance as of December 31, 2025 130,683 11,344 374,632 136,300 652,959 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 104
NOTE 16 - FIXED ASSETS, continued ii. Accumulated depreciation 2026 Buildings Land Equipment Other Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Balance as of January 1, 2026 (76,446) – (324,453) (73,105) (474,004) Depreciation charges for the period (1,736) – (8,535) (2,294) (12,565) Disposals and sales for the period – – 605 430 1,035 Reclassifications / Other 2 – – – 2 Balance as of March 31, 2026 (78,180) – (332,383) (74,969) (485,532) 2025 Buildings Land Equipment Other Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Balance as of January 1, 2025 (97,611) - (300,018) (76,369) (473,998) Depreciation charges for the year (9,042) - (31,162) (8,375) (48,579) Disposals and sales for the year 30,207 - 6,727 11,639 48,573 Reclassifications / Other - - - - - Balance as of December 31, 2025 (76,446) - (324,453) (73,105) (474,004) The Bank has no restrictions on fixed assets as of March 31, 2026, and December 31, 2025. Additionally, no fixed assets have been pledged as collateral for the fulfillment of obligations. Furthermore, there are no amounts payable for fixed assets by the Bank as of the same dates Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 105
NOTE 17 - RIGHT OF USE ASSETS AND LEASE CONTRACTS OBLIGATIONS The composition of right-to-use lease assets as of March 31, 2026, and December 31, 2025, is as follows: As of March 31, 2026 Opening net balance January 1, 2026 Gross balance Accumulated depreciation Net balance Ch$mn Ch$mn Ch$mn Ch$mn Buildings 29,915 165,793 (128,022) 37,771 Improvements to leased properties 63,567 161,526 (100,900) 60,626 Total 93,482 327,319 (228,922) 98,397 As of December 31, 2025 Opening net balance January 1, 2025 Gross balance Accumulated depreciation Net balance Ch$mn Ch$mn Ch$mn Ch$mn Buildings 100,449 167,373 (137,458) 29,915 Improvements to leased properties 53,079 161,026 (97,459) 63,567 Total 153,528 328,399 (234,917) 93,482 1. The movement in the right-to-use lease assets as of March 31, 2026, and December 31, 2025, is as follows: i. Gross balance 2026 Buildings Improvements to leased properties Total Ch$mn Ch$mn Ch$mn Balance as of January 1, 2026 167,373 161,026 328,399 Additions 3,274 711 3,985 Disposals (4,854) (211) (5,065) Impairment - - - Reclassifications / Other - - - Balance as of March 31, 2026 165,793 161,526 327,319 2025 Buildings Improvements to leased properties Total Ch$mn Ch$mn Ch$mn Balance as of January 1, 2025 189,234 141,637 330,871 Additions 6,589 25,365 31,954 Disposals (28,450) (3,234) (31,684) Impairment - - - Reclassifications / Other - (2,742) (2,742) Balance as of December 31, 2025 167,373 161,026 328,399 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 106
NOTE 17 - RIGHT OF USE ASSETS AND LEASE CONTRACTS OBLIGATIONS, continued ii. Accumulated depreciation 2026 Buildings Leasehold improvements Total Ch$mn Ch$mn Ch$mn Balance as of January 1, 2026 (137,458) (97,459) (234,917) Depreciation charges for the period (7,101) (3,647) (10,748) Disposals and sales for the period 16,537 206 16,743 Reclassifications / Other - - - Balance as of March 31, 2026 (128,022) (100,900) (228,922) 2025 Buildings Leasehold improvements Total Ch$mn Ch$mn Ch$mn Balance as of January 1, 2025 (128,442) (87,883) (216,325) Depreciation charges for the period (25,915) (12,810) (38,725) Disposals and sales for the period 16,899 3,234 20,133 Reclassifications / Other – – – Balance as of December 31, 2025 (137,458) (97,459) (234,917) 2. Obligations under leasing contracts As of March 31, 2026, and December 31, 2025, the lease obligations are as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Obligations under leasing contracts 49,967 40,649 Total 49,967 40,649 3. Expenditure related to assets held under leasing contracts: As of March 31, 2026 2025 Ch$mn Ch$mn Depreciation 10,748 10,211 Interests 2,675 2,277 Short-term leasing 7,112 2,847 Other expenses for obligations under lease contracts 12 10 Total 20,547 15,345 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 107
NOTE 17 - RIGHT OF USE ASSETS AND LEASE CONTRACTS OBLIGATIONS, continued 4. As of March 31, 2026, and December 31, 2025 the maturity of lease obligations, according to their contractual maturity, is as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Due within 1 year 10,776 6,629 Due after 1 to 2 years 10,284 8,004 Due after 2 to 3 years 10,161 6,747 Due after 3 to 4 years 6,161 6,082 Due after 4 to 5 years 4,491 5,194 Due after 5 years 8,094 7,993 Total 49,967 40,649 5. Operating leases- Lessor As of March 31, 2026, and December 31, 2025, the future minimum rents to be received from non-cancellable operating leases are as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Due within 1 year 1,448 1,998 Due after 1 to 2 years 1,711 2,247 Due after 2 to 3 years 955 1,229 Due after 3 to 4 years 899 1,089 Due after 4 to 5 years 455 890 Due after 5 years 2,771 2,888 Total 8,239 10,341 6. As of March 31, 2026, and December 31, 2025, the Bank has no financial lease contracts that cannot be unilaterally terminated. 7. The Bank has no restrictions on right of use assets as of March 31, 2026, and December 31, 2025. Additionally, no right of use assets have been pledged as collateral for the fulfillment of obligations. Furthermore, there are no amounts payable for right of use assets by the Bank as of the same dates. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 108
NOTE 18 - CURRENT AND DEFERRED TAXES 1. Current taxes As of March 31, 2026, and December 31, 2025, the Bank has set up a first-category income tax provision based on the tax provisions in force. This provision is presented net of payments and credits as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Breakdown of current tax liabilities (assets) Current taxes (assets) (107) (113) Current tax liabilities 61,017 83,084 Total net taxes payable (recoverable) 60,910 82,971 Details of current tax liabilities (assets) (net) Income tax (27%) 295,124 281,640 Minus: Monthly provisional payments (231,541) (191,232) Credit for training expenses (2,193) (2,146) Credits for donations (1,262) (1,262) Other 782 (4,029) Total taxes payable (recoverable) 60,910 82,971 2. Results from taxes The tax expense presented in the Income Statement for the periods as of March 31, 2026, and December 31, 2025, is composed of the following items: As of March 31, 2026 2025 Ch$mn Ch$mn Income tax expense Current year tax (1,174) 58,789 Deferred tax credits (charges) Origination and reversal of temporary differences 69,696 (6,158) Subtotal 68,522 52,631 Tax on rejected expenses Article N°21 138 171 Other (12,751) (5) Net income tax expense 55,909 52,797 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 109
NOTE 18 - CURRENT AND DEFERRED TAXES, continued 3. Reconciliation of the effective tax rate The reconciliation between the income tax rate and the effective tax rate applied in determining the tax expense as of March 31, 2026, and December 31, 2025, is shown below. As of March 31, 2026 2025 Tax Rate Amount Tax Rate Amount % Ch$mn % Ch$mn Tax calculated on the profit before taxes 27.00 90,824 27.00 90,326 Permanent differences (*) (7.62) (25,620) (12.53) (41,925) Single tax (disallowed expenditure) 0.04 138 0.05 171 Other (2.80) (9,433) 1.26 4,225 Effective rate and income tax expense 16.62 55,909 15.78 52,797 (*) Corresponds mainly to permanent differences arising from the Price-Level Restatement of Equity in tax books and the result from the sale of bonds under Article 104 of the Income Tax Law (LIR). 4. Effect of deferred taxes on equity The following is a summary of the effect of deferred tax on equity, separately showing the balances corresponding to assets and liabilities for the periods ending March 31, 2026, and December 31, 2025: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Deferred tax assets (OCI) Financial investment instruments 23,273 22,360 Cash flow hedges 43,705 4,640 Total deferred tax assets with effect in others comprehensive income 66,978 27,000 Deferred tax liabilities Financial investment instruments (1,335) (1,325) Cash flow hedges - - Total deferred tax liabilities with effect on others comprehensive income (1,335) (1,325) Net deferred tax balances in equity 65,643 25,675 Deferred taxes in equity attributable to equity holders of the bank 66,300 26,327 Deferred tax in equity attributable to non-controlling interests (657) (652) Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 110
NOTE 18 - CURRENT AND DEFERRED TAXES, continued 5. Effect of deferred taxes on income As of March 31, 2026, and December 31, 2025, the Bank has recorded the effects of deferred taxes in its Interim Consolidated Financial Statements. Below are the effects of deferred taxes on assets, liabilities and results allocated due to temporary differences: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Deferred tax assets Interest and readjustments 21,949 22,583 Extraordinary charge-off 28,274 22,170 Assets received in lieu of payment 9,916 9,437 Valuation of fixed assets 7,915 8,552 Foreign exchange adjustments 7 - Provision for loan losses 341,675 345,551 Provision for expenses 74,579 92,952 Derivatives - - Leased assets 65,245 74,960 Subsidiaries tax loss - - Right-of-use assets 13,491 10,975 Other - 1,262 Total deferred tax assets 563,051 588,442 Deferred tax liabilities Valuation of investments (39,736) (533) Anticipated expenses (25,536) (28,206) Derivatives (81,972) (75,378) Lease obligations (10,613) (8,519) Foreign exchange adjustments - (1,900) Other (15,827) (14,843) Total deferred tax liabilities (173,684) (129,379) 6. Breakdown of deferred taxes Below is a breakdown of deferred taxes, considering their effect on equity and results As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Deferred tax assets With an effect on other comprehensive income 66,978 27,000 With an effect on income 563,051 588,442 Total deferred tax assets 630,029 615,442 Deferred tax liabilities With an effect on other comprehensive income (1,335) (1,325) With an effect on income (173,684) (129,379) Total deferred tax liabilities (175,019) (130,704) Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 111
NOTE 18 - CURRENT AND DEFERRED TAXES, continued 7. Presentation of taxes in the financial statements At the date of these Interim Consolidated Financial Statements, taxes are presented as follows: Deferred taxes As of March 31, As of December 31, 2026 2025 MM$ MM$ Deferred tax assets before reclassifying 630,029 615,442 Reclassifying (netting) (172,575) (128,919) Deferred tax asset after reclassifying 457,454 486,523 Deferred tax liabilities before reclassifying (175,019) (130,704) Reclassifying (netting) 172,575 128,919 Deferred tax liabilities after reclassifying (2,444) (1,785) Current taxes As of March 31, As of December 31, 2026 2025 MM$ MM$ Current tax asset before reclassifying 235,341 199,720 Reclassifying (netting) (235,234) (199,607) Current tax asset after reclassifying 107 113 Current tax liabilities before reclassifying (296,251) (282,691) Reclassifying (netting) 235,234 199,607 Current tax liabilities after reclassifying (61,017) (83,084) 8. Complementary information related to Circular No 47 (2009) issued by the Internal Tax Service and the FMC For the purposes of disclosure and substantiation of provisions and write-offs, banks must include in the tax note of their Interim Consolidated Financial Statements a detailed account of the movements and effects generated by the application of Article 31, No. 4 of the Income Tax Law (LIR), as established in the document annexed to the joint circular. i. Loans and receivables As of March 31, 2026 As of December 31, 2025 Assets at tax value Assets at tax value Overdue portfolio Overdue portfolio Assets at financial value Total With collateral Without collateral Assets at financial value Total With collateral Without collateral Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Interbank loans 52,494 52,494 - - 68,178 68,178 - - Commercial loans 16,260,294 16,315,699 330,704 223,202 16,128,688 16,185,726 324,813 184,273 Consumer loans 5,066,894 5,128,876 5,912 55,164 5,046,617 5,109,179 6,137 55,679 Mortgage loans 17,353,554 17,394,665 253,376 4,192 17,443,563 17,486,306 239,338 2,906 Total 38,733,236 38,891,734 589,992 282,558 38,687,046 38,849,389 570,288 242,858 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 112
NOTE 18 - CURRENT AND DEFERRED TAXES, continued ii. Provisions on the overdue portfolio without collateral Balance as of 01-01-2026 Charge-offs against provision Established provisions Released provisions Balance as of 31-03-2026 Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Commercial loans 184,273 (98,087) 388,152 (251,136) 223,202 Consumer loans 55,679 (162,553) 195,263 (33,225) 55,164 Mortgage loans 2,906 (9,722) 45,954 (34,946) 4,192 Total 242,858 (270,362) 629,369 (319,307) 282,558 Balance as of 01-01-2025 Charge-offs against provision Established provisions Released provisions Balance as of 31-12-2025 Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Commercial loans 196,561 (102,076) 360,552 (270,764) 184,273 Consumer loans 40,543 (155,442) 203,383 (32,805) 55,679 Mortgage loans 1,289 (10,632) 46,551 (34,302) 2,906 Total 238,393 (268,150) 610,486 (337,871) 242,858 iii. Direct charge-offs and recoveries As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Direct Charge-offs Art 31 No 4, paragraph III (10,549) (9,321) Debt forgiveness events that originated liberation of provisions - - Recoveries or renegotiations of impaired loans 48,899 185,153 Total 38,350 175,832 iv. Application of Article 31 N°4 paragraphs I. and IV. As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Charge-offs under paragraph I - - Charge-offs under paragraph IV (1,981) (3,457) Total (1,981) (3,457) Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 113
NOTE 19 - OTHER ASSETS The composition of the item "Other Assets" as of March 31, 2026, and December 31, 2025, is as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Other assets Assets to be leased out as lessor (1) 10,417 9,366 Cash guarantees provided for derivative financial transactions (2) 2,464,377 2,075,671 Debtors by financial instrument intermediation 380,895 83,086 Accounts receivable from third parties 108,506 99,436 VAT tax credit receivable 12,921 15,009 Pre-paid expenses (3) 50,402 24,400 Valuation adjustments for macro hedges (4) 174,532 119,790 Assets backing obligations of defined benefit pension plans 738 693 Investments in gold 1,733 1,619 Other cash guarantees provided (5) 14,405 26,637 Pending operations 26,304 16,657 Other assets 106,088 171,680 Total 3,351,318 2,644,044 1. These correspond to assets available to be delivered under financial leasing arrangements. 2. These are guarantees associated with certain derivative contracts. These guarantees are triggered when the valuation of derivatives exceeds thresholds defined in the respective contracts and may work in favor of or against the Bank. 3. This category includes prepaid expenses related to the Santander LATAM Pass program. These expenses will naturally be consumed as customers use the Bank's transactional products, leading to the assignment of the respective LATAM Pass miles (a loyalty program managed by LATAM Airlines Group S.A.). 4. This corresponds to the balances of market value valuation of net assets or liabilities subject to macro hedging (Note No. 12). 5. These are cash guarantees with the clearinghouse for low-value payments, which came into effect starting in 2024. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 114
NOTE 20 - NON-CURRENT ASSETS AND DISPOSAL GROUPS HELD FOR SALE AND LIABILITIES INCLUDED IN DISPOSAL GROUPS HELD FOR SALE The composition of the item "non-current assets and disposal group held for sale" and "liabilities included in disposal groups held for sale" as of March 31, 2026, and December 31, 2025, is as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Assets received in payment or awarded in a judicial auction (1) Assets received in lieu of payment 11,742 13,993 Assets awarded in a judicial auction 40,913 40,283 Provisions for assets received in lieu of payment or awarded in a judicial auction (3,324) (3,373) Non-current assets held for sale Fixed assets 28,840 29,003 Assets from the recovery of goods sold under financial leasing operations 4,143 1,693 Disposable groups for sale - - Total 82,314 81,599 (1) Assets received in payment are those received in place of overdue debts from customers. The aggregate assets held in this way must not exceed 20% of the Bank's regulatory capital. Currently, these assets represent 0.16% (0.20% as of December 31, 2025) of the Bank's regulatory capital. Assets awarded in a judicial auction correspond to those awarded in judicial auctions as repayment of debts previously contracted with the Bank. Assets awarded in a judicial auction are not subject to the aforementioned margin. These immovable properties are assets available for sale. For most assets, the sale is expected to be completed within one year from the asset's reception or acquisition. If such property is not sold within the time frame established in bank regulations, it must be written off. Furthermore, a provision is recorded for the difference between the higher initial award value plus any additions and its appraisal value. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 115
NOTE 21 - FINANCIAL LIABILITIES HELD FOR TRADING AT FAIR VALUE THROUGH PROFIT OR LOSS Financial liabilities at fair value through profit or loss comprise the liabilities held for trading. They are classified in this category because they are acquired to sell in the short term. Financial liabilities held for trading and derivatives that are financial liabilities are measured at fair value, in which gains and losses are taken to the income statement. As of March 31, 2026, and December 31, 2025, the Bank holds the following portfolio of financial liabilities held for trading at fair value through profit or loss: As of March 31, As of December 31, Fair value - Liabilities 2026 2025 Ch$mn Ch$mn Financial derivatives contracts Forwards 2,042,248 2,173,004 Swaps 8,530,959 8,411,423 Call options 2,202 491 Put options 870 2,390 Future - - Other - - Subtotal 10,576,279 10,587,308 Other financial instruments Deposits and other demand liabilities - - Time deposits and other term equivalents - - Issued debt instruments - - Other derivatives - - Subtotal - - Total 10,576,279 10,587,308 Banco Santander presents financial liabilities for trading at fair value through profit or loss corresponding to financial derivative contracts, mainly forwards and swaps, which hedge the exchange rate and interest rate risk related to future obligations. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 116
NOTE 21 - FINANCIAL LIABILITIES HELD FOR TRADING AT FAIR VALUE THROUGH PROFIT OR LOSS, continued The following is a breakdown of the financial derivatives contracted by the Bank as of March 31, 2026, and December 31, 2025, their fair value and the breakdown by the maturity of the notional or contractual values: As of March 31, 2026 Notionals On demand Up to 1 month Between 1 month and 3 months Between 3 months and 1 year Between 1 year and 3 years Between 3 years and 5 years More than 5 years Total Fair value Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Financial derivatives contracts Currency forwards - 23,892,427 19,655,674 28,721,155 7,419,744 4,271,186 1,234,971 85,195,157 2,042,248 Interest rate swaps - 19,522,908 21,265,545 32,067,872 22,882,849 21,466,540 31,305,999 148,511,713 1,343,230 Currency and interest rate swaps - 1,374,912 4,130,963 10,849,864 21,046,077 13,657,188 24,421,381 75,480,385 7,187,729 Currency call options - 47,138 8,319 19,473 - - - 74,930 2,202 Call interest rate options - - - - - - - - - Put currency options - 34,048 32,140 80,565 - - - 146,753 870 Put interest rate options - - - - - - - - - Interest rate futures - - - - - - - - - Other derivatives - - - - - - - - - Total - 44,871,433 45,092,641 71,738,929 51,348,670 39,394,914 56,962,351 309,408,938 10,576,279 As of December 31, 2025 Notionals On demand Up to 1 month Between 1 month and 3 months Between 3 months and 1 year Between 1 year and 3 years Between 3 years and 5 years More than 5 years Total Fair value Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Financial derivatives contracts Currency forwards - 23,750,958 20,824,030 27,092,792 5,136,179 1,136,565 700,706 78,641,230 2,173,004 Interest rate swaps - 16,930,774 20,745,410 35,069,132 21,274,251 15,793,974 29,527,648 139,341,189 1,134,840 Currency and interest rate swaps - 1,172,436 4,049,436 10,566,265 19,536,479 12,329,038 22,921,210 70,574,864 7,276,583 Currency call options - 27,767 47,768 25,958 - - - 101,493 491 Call interest rate options - - - - - - - - - Put currency options - 56,787 73,951 73,075 - - - 203,813 2,390 Put interest rate options - - - - - - - - - Interest rate futures - - - - - - - - - Other derivatives - - - - - - - - - Total - 41,938,722 45,740,595 72,827,222 45,946,909 29,259,577 53,149,564 288,862,589 10,587,308 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 117
NOTE 22 - FINANCIAL LIABILITIES AT AMORTISED COST As of March 31, 2026, and December 31, 2025, the composition of financial liabilities at amortized cost is as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Deposits and other demand liabilities Current accounts 11,418,423 11,674,317 Demand deposit accounts 459,211 464,930 Other demand deposits 405,738 471,543 Obligations for payment card provision accounts 29,255 30,148 Other on demand liabilities 1,433,748 1,434,652 Subtotal 13,746,375 14,075,590 Time deposits and other term equivalents Time deposits 16,958,310 16,216,079 Term savings accounts 281,431 269,821 Other term credit balances 7,837 7,883 Subtotal 17,247,578 16,493,783 Obligations under repurchase and securities lending agreements Transactions with domestic banks - 662,793 Transactions with foreign banks 2,418,931 699,048 Transactions with other Chilean entities 365,394 225,245 Transactions with other foreign entities - 1,168,157 Subtotal 2,784,325 2,755,243 Interbank borrowing Chilean Banks 21,162 30,052 Foreign banks 3,400,081 3,404,185 Central Bank of Chile - - Subtotal 3,421,243 3,434,237 Debt financial instruments issued Letters of Credit 4 55 Senior bonds 7,574,156 7,643,750 Mortgage bonds 50,759 55,295 Subtotal 7,624,919 7,699,100 Other financial liabilities Other financial obligations with the public sector 9,016 - Other Chilean financial obligations 209,311 193,693 Other foreign financial obligations 154 30,628 Subtotal 218,481 224,321 Total 45,042,921 44,682,274 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 118
NOTE 22 - FINANCIAL LIABILITIES AT AMORTISED COST, continued 1. Obligations under repurchase and securities lending agreements As of March 31, 2026, and December 31, 2025, the obligations associated with the instruments sold under repurchase agreements are as follows: As of March 31, 2026 As of December 31, 2025 Demand Up to 1 month More than 1 month up to 3 months More than 3 month up to 12 months Total Demand Up to 1 month More than 1 month up to 3 months More than 3 month up to 12 months Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Transactions with domestic banks Repurchase agreements with other banks - - - - - - 662,793 - - 662,793 Repurchase agreements with the Central Bank of Chile - - - - - - - - - - Securities lending obligations - - - - - - - - - - Subtotal - - - - - - 662,793 - - 662,793 Transactions with foreign banks Repurchase agreements with other banks - 2,074,135 344,796 - 2,418,931 - 699,048 - - 699,048 Repurchase agreements with foreign central banks - - - - - - - - - - Securities lending obligations - - - - - - - - - - Subtotal - 2,074,135 344,796 - 2,418,931 - 699,048 - - 699,048 Transactions with other entities in the country Repurchase agreements - 365,394 - - 365,394 - 225,245 - - 225,245 Securities lending obligations - - - - - - - - - - Subtotal - 365,394 - - 365,394 - 225,245 - - 225,245 Transactions with other entities abroad Repurchase agreements - - - - - - 593,788 574,369 - 1,168,157 Securities lending obligations - - - - - - - - - - Subtotal - - - - - - 593,788 574,369 - 1,168,157 Total - 2,439,529 344,796 - 2,784,325 - 2,180,874 574,369 - 2,755,243 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 119
NOTE 22 - FINANCIAL LIABILITIES AT AMORTISED COST, continued 2. Interbank borrowing As of March 31, 2026, and December 31, 2025, the composition of the item 'Interbank Borrowings' in the Interim Consolidated Financial Statements is as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Loans from domestic financial institutions Commercial interbank loans 21,162 30,052 Subtotal 21,162 30,052 Loans from foreign financial institutions International Finance Corporate 510,946 489,946 State Bank of India 478,082 503,807 Wells Fargo Bank NA 396,629 371,998 Hong Kong and Shanghai Banking 394,755 378,851 Citibank N.A. 178,173 190,225 Bank of America 171,191 180,300 Standard Chartered Bank 145,324 147,039 JPMorgan Chase Bank 140,126 92,236 Caixabank Sa 118,407 113,522 Commerzbank Ag 116,084 133,285 Zurcher Kantonalbank 108,505 127,768 The Bank of New York Mellon 104,334 133,014 Banco Santander 93,188 89,375 Sumitomo Mitsui Banking Corporation 93,072 90,322 Agricultural Bank of China 83,628 81,336 Instituto De Credito oficial 51,996 49,881 Banco Bilbao Vizcaya Argentaria 48,011 46,070 Banco de Desarrollo de América Latina y el Caribe 46,992 92,096 CORFO 36,168 3,288 Lloyds Bank Plc 28,925 27,750 Banco Santander Singapur 26,896 15,605 Abanca Corporacion Bancaria S.A. 9,657 9,267 Banco Santander Hong Kong 7,704 10,903 Bank of China 4,264 13,672 China Merchants Bank 2,490 3,056 Industrial And Commercial Bank 1,118 2,341 Intesa Sanpaolo Spa 610 - Banco De La Provincia De Buenos Aires 458 - Kbc Bank Nv 391 57 Itau Unibanco S/A 351 - Banco De Sabadell S.A. 246 220 BNP Paribas Fortis 229 - Turkiye Garanti Bankasi 219 - Korea Exchange Bank 189 70 Taiwan Cooperative Bank Ltd 121 49 Banco Santander Brasil 83 143 Shanghai Pudong Development Bank 67 250 Credit Agricole Italia SPA 66 73 Wachovia Bank Na 66 55 Svenska Handelsbanken AB 64 - Industrial Bank of Korea 52 262 The Bank of Tokyo-Mitsubishi UFJ 46 - Arab Bank Plc 42 - Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 120
NOTE 22 - FINANCIAL LIABILITIES AT AMORTISED COST, continued As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Continued... Bank of Communications 33 36 Rhb Bank Berhad 33 – Kotak Mahindra Bank 27 – Bank of Ningbo 23 – Santander Madrid – 2,668 China Construction Bank – 1,266 China CITIC Bank – 1,137 Bnp Paribas Sa – 287 Banco Santander Mexico – 263 Bancomer S.A. – 200 Santander UK plc – 132 Bank for Investment and Development – 35 Export-Import Bank of Thailand – 29 Subtotal 3,400,081 3,404,185 Total 3,421,243 3,434,237 2.1. Loans from Chilean financial institutions The maturity of these obligations is as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Due within 1 year 21,162 30,052 Due after 1 to 2 years - - Due after 2 to 3 years - - Due after 3 to 4 years - - Due after 4 to 5 years - - Due after 5 years - - Total loans from domestic financial institutions 21,162 30,052 2.2. Foreign obligations As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Due within 1 year 2,533,548 2,513,436 Due after 1 to 2 years 290,327 369,126 Due after 2 to 3 years 302,015 289,966 Due after 3 to 4 years 92,286 - Due after 4 to 5 years 141,011 223,890 Due after 5 years 40,894 7,767 Total loans from foreign financial institutions 3,400,081 3,404,185 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 121
NOTE 22 - FINANCIAL LIABILITIES AT AMORTISED COST, continued 3. Debt Financial Instruments Issued and Other Financial Obligations Debts classified as short-term constitute obligations on demand, or that will mature in one year or less. All other debts are classified as long-term. The details are as follows: As of March 31, 2026 As of December 31, 2025 Short-term Long-term Total Short-term Long-term Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Letters of credit 4 - 4 55 - 55 Senior bonds 2,163,391 5,410,765 7,574,156 2,365,010 5,278,740 7,643,750 Mortgage bonds - 50,759 50,759 - 55,295 55,295 Issued debt instruments 2,163,395 5,461,524 7,624,919 2,365,065 5,334,035 7,699,100 Other financial liabilities 218,481 - 218,481 224,321 - 224,321 Total 2,381,876 5,461,524 7,843,400 2,589,386 5,334,035 7,923,421 3.1 Mortgage finance bonds These notes are used to finance mortgage loans. The principal amounts of these are amortized quarterly. These notes are indexed to the UF and yield an interest rate of 5.15% as of March 31, 2026 (5.17% as of December 31, 2025). As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Due within 1 year 4 55 Due after 1 to 2 years - - Due after 2 to 3 years - - Due after 3 to 4 years - - Due after 4 to 5 years - - Due after 5 years - - Total mortgage finance bonds 4 55 3.2 Senior bonds The details of senior bonds by currency are as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Santander Bonds in UF 3,558,396 3,822,554 Santander Bonds in US$ 1,686,697 1,410,129 Santander Bonds in CHF$ 928,585 917,621 Santander Bonds in Ch$ 997,705 1,066,919 Current bonds in AUD$ 95,606 91,224 Senior bonds in JPY$ 179,584 177,332 Senior bonds in EUR$ 127,583 157,971 Total senior bonds 7,574,156 7,643,750 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 122
NOTE 22 - FINANCIAL LIABILITIES AT AMORTISED COST, continued a. Issuance of senior bonds During 2026 the Bank issued bonds amounting to UF 3,879,000 and USD 520,000,000, as detailed below: Series Currency Amount placed Term (years) Annual Issuance rate Issue Date Placement Date Maturity Date BSTDBA0225 UF 597,000 6.5 years 3.00% 02-16-2026 02-17-2026 08-01-2032 BSTDBA0225 UF 50,000 6.5 years 3.00% 02-18-2026 02-19-2026 08-01-2032 BSTDBA0225 UF 632,000 6.4 years 3.00% 02-26-2026 02-27-2026 08-01-2032 BSTD220622 UF 1,600,000 4.2 years 2.75% 03-09-2026 03-10-2026 06-01-2030 BSTDA61022 UF 1,000,000 11.5 years 2.70% 03-31-2026 03-31-2026 10-01-2037 Total UF 3,879,000 144a USD 500,000,000 4.8 years 4.55% 01-08-2026 01-15-2026 11-20-2030 Bond US SOFR Daiwa USD 20,000,000 5 years 4.58% 03-11-2026 03-18-2026 03-18-2031 Total USD 520,000,000 During 2025, the bank issued bonds for UF 17,540,000, CLP 328,550,000,000 CHF 140,000,000, JPY 14,000,000,000 and USD 20,000,000 detailed as follows: Series Currency Amount placed Term (years) Annual Issuance rate Issue Date Placement Date Maturity Date BSTD180624 UF 1,300,000 1.9 years 2.00% 01-10-2025 01-13-2025 12-01-2026 BSTD180624 UF 1,700,000 1.8 years 2.00% 02-03-2025 02-04-2025 12-01-2026 BSTD230822 UF 100,000 6.0 years 3.00% 02-04-2025 02-05-2025 02-01-2031 BSTD230822 UF 200,000 6.0 years 3.00% 02-05-2025 02-06-2025 02-01-2031 BSTD120923 UF 800,000 8.6 years 3.00% 02-06-2025 02-07-2025 09-01-2033 BSTD151023 UF 1,385,000 2.6 years 2.00% 02-17-2025 02-18-2025 10-01-2027 BSTDA61022 UF 600,000 12.5 years 3.00% 03-28-2025 03-31-2025 10-01-2037 BSTD120923 UF 300,000 8.4 years 3.00% 03-28-2025 03-31-2025 09-01-2033 BSTD120923 UF 500,000 8.4 years 3.00% 04-01-2025 04-02-2025 09-01-2033 BSTD120923 UF 100,000 8.4 years 3.00% 04-02-2025 04-03-2025 09-01-2033 BSTD120923 UF 500,000 8.4 years 3.00% 04-08-2025 04-10-2025 09-01-2033 BSTD230822 UF 620,000 5.8 years 3.00% 04-09-2025 04-10-2025 02-01-2031 BSTD120923 UF 20,000 8.4 years 3.00% 04-09-2025 04-10-2025 09-01-2033 BSTD211024 UF 350,000 2.0 years 2.00% 04-09-2025 04-10-2025 04-01-2027 BSTD211024 UF 200,000 2.0 years 2.00% 04-10-2025 04-11-2025 04-01-2027 BSTD120923 UF 780,000 8.4 years 3.00% 04-15-2025 04-16-2025 09-01-2033 BSTD230822 UF 180,000 5.8 years 3.00% 04-15-2025 04-16-2025 02-01-2031 BSTDA61022 UF 1,365,000 12.5 years 3.00% 04-16-2025 04-17-2025 10-01-2037 BSTDA61022 UF 350,000 12.4 years 3.00% 04-23-2025 04-24-2025 10-01-2037 BSTD211024 UF 148,000 1.9 years 2.00% 04-24-2025 04-25-2025 04-01-2027 BSTD211024 UF 2,000 1.9 years 2.00% 04-24-2025 04-25-2025 04-01-2027 BSTDA61022 UF 100,000 12.4 years 3.00% 05-06-2025 05-07-2025 10-01-2037 BSTD211024 UF 200,000 1.9 years 2.00% 05-12-2025 05-13-2025 04-01-2027 BSTD230822 UF 510,000 5.5 years 2.65% 08-07-2025 08-08-2025 02-01-2031 BSTD211024 UF 1,200,000 1.6 years 2.30% 08-20-2025 08-21-2025 04-01-2027 6XBSTD230822 UF 100,000 5.3 years 2.65% 10-01-2025 10-02-2025 02-01-2031 11BSTD230822 UF 100,000 5.3 years 2.65% 10-08-2025 10-10-2025 02-01-2031 12BSTD230822 UF 200,000 5.3 years 2.65% 10-10-2025 10-13-2025 02-01-2031 6XBSTD210622 UF 530,000 4.1 years 0.0275 10-20-2025 10-21-2025 12-01-2029 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 123
NOTE 22 - FINANCIAL LIABILITIES AT AMORTISED COST, continued Series Currency Amount placed Term (years) Annual Issuance rate Issue Date Placement Date Maturity Date 13BSTD230822 UF 400,000 5.3 years 2.65% 10-21-2025 10-22-2025 02-01-2031 0XBSTDBA0225 UF 400,000 6.8 years 3.00% 10-23-2025 10-24-2025 08-01-2032 14BSTD230822 UF 300,000 5.3 years 2.65% 10-27-2025 10-28-2025 02-01-2031 1XBSTD220425 UF 800,000 14.4 years 3.00% 10-28-2025 10-30-2025 04-01-2040 2XBSTD220425 UF 200,000 14.4 years 3.00% 10-28-2025 10-30-2025 04-01-2040 Total UF 17,540,000 BSTD110723 CLP 50,000,000,000 2.2 years 6.00% 05-02-2025 05-03-2025 07-01-2027 BSTDA91122 CLP 30,300,000,000 5.5 years 6.00% 05-14-2025 05-15-2025 11-01-2030 BSTD170624 CLP 3,000,000,000 3.0 years 6.00% 05-16-2025 05-17-2025 06-01-2028 BSTDA21222 CLP 77,750,000,000 4.0 years 6.00% 05-16-2025 05-17-2025 06-01-2029 BSTD170624 CLP 10,000,000,000 3.0 years 6.00% 05-20-2025 05-22-2025 06-01-2028 BSTD170624 CLP 5,000,000,000 3.0 years 6.00% 05-22-2025 05-23-2025 06-01-2028 BSTDA40922 CLP 90,000,000,000 7.8 years 6.00% 05-22-2025 05-23-2025 03-01-2033 BSTD170624 CLP 20,000,000,000 3.0 years 6.00% 06-11-2025 06-13-2025 06-01-2028 1XBSTDBI0525 CLP 40,000,000,000 2.5 years 6.10% 11-12-2025 11-13-2025 05-01-2028 2XBSTDBI0525 CLP 2,500,000,000 2.4 years 6.10% 11-20-2025 11-21-2025 05-01-2028 Total CLP 328,550,000,000 CHF BNP & ZKB Bond CHF 140,000,000 5.3 years 1.19% 05-12-2025 05-30-2025 08-29-2030 Total CHF 140,000,000 JPY Santander SA Bond JPY 4,000,000,000 20.0 years 2.80% 04-24-2025 04-29-2025 04-28-2045 JPY Daiwa ESG Bond JPY 10,000,000,000 3.0 years 1.50% 07-02-2025 07-10-2025 07-10-2028 Total JPY 14,000,000,000 USD bond SOFR Daiwa USD 10,000,000 5.0 years 5.05% 06-06-2025 06-13-2025 06-13-2030 XS3257573298 USD 10,000,000 5.0 years 4.70% 12-17-2025 12-29-2025 12-29-2030 Total USD 20,000,000 b. Repurchase of senior bonds The Bank has carried out the following partial bond repurchases as of March 31, 2026: Date Type Currency Amount February 2026 Senior UF 597,000 February 2026 Senior UF 50,000 February 2026 Senior UF 300,000 February 2026 Senior UF 332,000 The Bank made the following partial bond repurchases as of December 31, 2025: Date Type Currency Amount July 2025 Senior UF 1,000,000 July 2025 Senior UF 110,000 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 124
NOTE 22 - FINANCIAL LIABILITIES AT AMORTISED COST, continued c. Maturities of senior bonds The maturity of the senior bonds is as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Due within 1 year 2,163,391 2,365,011 Due after 1 to 2 years 866,895 1,215,822 Due after 2 to 3 years 586,809 750,329 Due after 3 to 4 years 818,222 642,855 Due after 4 to 5 years 1,052,463 562,375 Due after 5 years 2,086,376 2,107,358 Total senior bonds 7,574,156 7,643,750 3.3 Mortgage bonds The details of mortgage bonds by currency are as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Mortgage bonds in UF 50,759 55,295 Total mortgage bonds 50,759 55,295 a. Mortgage Bond issuances The Bank has not issued any Mortgage Bonds as of March 31, 2026, and December 31, 2025. b. Maturity of Mortgage Bonds The maturity of Mortgage Bonds is as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Due within 1 year – – Due after 1 to 2 years – – Due after 2 to 3 years 24,497 28,984 Due after 3 to 4 years – – Due after 4 to 5 years – – Due after 5 years 26,262 26,311 Total mortgage bonds 50,759 55,295 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 125
NOTE 22 - FINANCIAL LIABILITIES AT AMORTISED COST, continued 4. Other financial liabilities The composition of other financial liabilities, according to maturity, is summarized below: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Long-term obligations Due after 1 to 2 years - - Due after 2 to 3 years - - Due after 3 to 4 years - - Due after 4 to 5 years - - Due after 5 years - - Subtotal - - Short-term obligations Amount payable for credit card transactions 207,754 192,107 Letters of credit approval 148 30,628 Other long-term financial obligations (short-term portion) 10,579 1,586 Subtotal 218,481 224,321 Other financial obligations total 218,481 224,321 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 126
NOTE 23 - REGULATORY CAPITAL FINANCIAL INSTRUMENTS The balances of Regulatory Capital Financial Instruments issued as of March 31, 2026, and December 31, 2025, are as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Financial instruments of regulatory capital issued Subordinated bonds with transitional recognition - - Subordinated Bonds 1,951,947 1,948,493 Perpetual bond 648,694 629,468 Preferred shares - - Subtotal 2,600,641 2,577,961 Debts classified as short-term constitute obligations on demand, or that will mature in one year or less. All other debts are classified as long-term. The details are as follows: As of March 31, 2026 Short-term Long-term Total Ch$mn Ch$mn Ch$mn Subordinated bonds with transitional recognition - - - Subordinated Bonds 200,120 1,751,827 1,951,947 Perpetual bond - 648,694 648,694 Preferred shares - - - Total 200,120 2,400,521 2,600,641 As of December 31, 2025 Short-term Long-term Total Ch$mn Ch$mn Ch$mn Subordinated bonds with transitional recognition - - - Subordinated Bonds 202,169 1,746,324 1,948,493 Perpetual bond - 629,468 629,468 Preferred shares - - - Total 202,169 2,375,792 2,577,961 The details of subordinated bonds by currency are as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn CLP - - US$ 185,181 181,378 UF 1,766,766 1,767,115 Subordinated bond total 1,951,947 1,948,493 The entirety of the Perpetual Bond is in US$ currency. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 127
NOTE 23 - REGULATORY CAPITAL FINANCIAL INSTRUMENTS, continued The movement in the balance of Regulatory Capital Financial Instruments issued as of March 31, 2026, and December 31, 2025, is as follows: Subordinated Bonds Perpetual bond Total Ch$mn Ch$mn Ch$mn Balance as of January 1, 2026 1,948,493 629,468 2,577,961 New issues/placements made - - - Accrued interest at the effective interest rate (subordinated bonds) 7,235 - 7,235 Interest payments to the holder (Subordinated Bonds) (13,277) - (13,277) Accrued adjustments due to UF and/or exchange rate 4,782 - 4,782 Exchange differences 5,412 18,942 24,354 Other movements (Discounts/Hedges) (698) 284 (414) Balance as of March 31, 2026 1,951,947 648,694 2,600,641 Subordinated Bonds Perpetual bond Total Ch$mn Ch$mn Ch$mn Balance as of January 1, 2025 1,910,697 693,382 2,604,079 New issues/placements made - - - Accrued interest at the effective interest rate (subordinated bonds) 31,807 - 31,807 Interest payments to the holder (Subordinated Bonds) (28,161) - (28,161) Accrued adjustments due to UF and/or exchange rate 55,118 - 55,118 Exchange differences (18,682) (65,387) (84,069) Other movements (Discounts/Hedges) (2,286) 1,473 (813) Balance as of December 31, 2025 1,948,493 629,468 2,577,961 During 2025, the Bank has not issued any regulatory capital instruments. The detail of subordinated bonds as of March 31, 2026 is as follows: Series Currency Amount placed Annual Issuance rate Issuance period Placement Date Maturity Date Balance in issuing currency Balance as of 03.31.2026 USTD-Z1207 UF 2,000,000 4.10% 22 years 12-28-2007 09-01-2026 1,528,638 60,904 USTD-M0301 UF 30,000 4.40% 20 years 08-24-2006 09-01-2026 30,138 1,201 USTD-M0301 UF 200,000 4.50% 20 years 08-21-2006 09-01-2026 200,840 8,002 USTD-M0301 UF 200,000 4.50% 20 years 08-17-2006 09-01-2026 200,880 8,003 USTD-M0301 UF 140,000 4.40% 20 years 09-06-2006 09-01-2026 140,644 5,604 USTD-M0301 UF 550,000 4.50% 20 years 08-21-2006 09-01-2026 552,421 22,009 USTD-M0301 UF 200,000 4.40% 20 years 08-18-2006 09-01-2026 200,920 8,005 USTD-M0301 UF 200,000 4.40% 20 years 08-18-2006 09-01-2026 200,920 8,005 USTD-M0301 UF 40,000 4.40% 20 years 08-22-2006 09-01-2026 40,184 1,601 USTD-M0301 UF 250,000 4.40% 20 years 08-24-2006 09-01-2026 251,150 10,006 USTD-M0301 UF 500,000 4.40% 20 years 08-25-2006 09-01-2026 502,301 20,013 USTD-M0301 UF 60,000 4.40% 20 years 09-04-2006 09-01-2026 60,276 2,402 USTD-M0301 UF 200,000 4.40% 20 years 09-06-2006 09-01-2026 200,940 8,006 USTD-M0301 UF 240,000 4.40% 20 years 09-07-2006 09-01-2026 241,129 9,607 USTD-M0301 UF 820,000 4.40% 20 years 09-08-2006 09-01-2026 823,774 32,821 USTD-M0301 UF 40,000 4.40% 20 years 09-08-2006 09-01-2026 40,188 1,601 USTD-M0301 UF 920,000 4.40% 20 years 09-08-2006 09-01-2026 924,234 36,823 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 128
NOTE 23 - REGULATORY CAPITAL FINANCIAL INSTRUMENTS, continued Series Currency Amount placed Annual Issuance rate Issuance period Placement Date Maturity Date Balance in issuing currency Balance as of 12.31.2025 USTD-M0301 UF 410,000 4.40% 20 years 09-08-2006 11-02-2032 411,928 16,412 USTD-X1107 UF 400,000 4.00% 25 years 12-17-2007 11-02-2032 406,550 16,198 USTD-X1107 UF 25,000 4.00% 25 years 12-17-2007 11-02-2032 25,409 1,012 USTD-X1107 UF 100,000 4.10% 25 years 12-17-2007 11-02-2032 101,353 4,038 USTD-X1107 UF 150,000 4.00% 25 years 12-18-2007 11-02-2032 152,456 6,074 USTD-X1107 UF 210,000 4.00% 25 years 12-17-2007 11-02-2032 213,439 8,504 USTD-X1107 UF 40,000 4.00% 25 years 12-17-2007 11-02-2032 40,744 1,623 USTD-X1107 UF 100,000 4.10% 25 years 12-17-2007 11-02-2032 101,353 4,038 USTD-X1107 UF 50,000 4.00% 25 years 12-17-2007 11-02-2032 50,956 2,030 USTD-X1107 UF 400,000 4.00% 25 years 12-17-2007 11-02-2032 406,550 16,198 USTD-X1107 UF 100,000 4.10% 25 years 12-17-2007 11-02-2032 101,353 4,038 USTD-X1107 UF 175,000 4.00% 25 years 12-17-2007 11-02-2032 178,257 7,102 USTD-X1107 UF 250,000 4.00% 25 years 12-17-2007 05-02-2033 254,780 10,151 USTDG10508 UF 3,000,000 4.70% 25 years 07-25-2008 03-01-2038 2,918,056 116,260 USTDG20908 UF 750,000 4.90% 29 years 12-26-2008 03-01-2038 749,687 29,869 USTDG20908 UF 300,000 4.50% 29 years 01-26-2009 03-01-2038 310,960 12,389 USTDG20908 UF 15,000 3.80% 28 years 06-11-2010 03-01-2038 16,476 656 USTDG20908 UF 30,000 3.80% 28 years 06-14-2010 03-01-2038 32,924 1,312 USTDG20908 UF 50,000 3.90% 28 years 06-16-2010 03-01-2038 54,824 2,184 USTDG20908 UF 50,000 3.80% 28 years 06-16-2010 03-01-2038 54,874 2,186 USTDG20908 UF 35,000 3.80% 28 years 06-17-2010 03-01-2038 38,412 1,530 USTDG20908 UF 25,000 3.90% 28 years 06-17-2010 03-01-2038 27,412 1,092 USTDG20908 UF 500,000 3.90% 28 years 06-25-2010 03-01-2038 548,236 21,843 USTDG20908 UF 539,000 3.80% 28 years 07-01-2010 03-01-2038 591,540 23,568 USTDG20908 UF 228,000 3.90% 28 years 07-01-2010 03-01-2038 249,996 9,960 USTDG20908 UF 478,000 3.90% 28 years 07-06-2010 07-01-2035 524,114 20,882 USTDG30710 UF 120,000 4.00% 24 years 03-14-2011 07-01-2035 120,914 4,817 USTDG30710 UF 100,000 4.00% 24 years 03-15-2011 07-01-2035 100,762 4,015 USTDG30710 UF 300,000 4.00% 24 years 03-16-2011 07-01-2035 302,285 12,044 USTDG30710 UF 46,000 4.00% 24 years 03-17-2011 07-01-2035 46,350 1,847 USTDG30710 UF 200,000 4.00% 24 years 03-17-2011 07-01-2035 201,523 8,029 USTDG30710 UF 780,000 4.00% 24 years 03-18-2011 07-01-2035 785,940 31,313 USTDG30710 UF 30,000 3.90% 24 years 03-24-2011 07-01-2035 30,341 1,209 USTDG30710 UF 1,424,000 3.90% 24 years 04-06-2011 07-01-2040 1,440,164 57,379 USTDG40710 UF 350,000 3.80% 30 years 08-17-2010 07-01-2040 358,884 14,299 USTDG40710 UF 1,650,000 3.80% 30 years 08-17-2010 07-01-2040 1,690,050 67,335 USTDG40710 UF 300,000 3.80% 30 years 08-18-2010 07-01-2040 307,615 12,256 USTDG40710 UF 60,000 3.80% 30 years 08-19-2010 07-01-2040 61,717 2,459 USTDG40710 UF 400,000 3.80% 30 years 08-19-2010 07-01-2040 411,001 16,375 USTDG40710 UF 240,000 3.70% 30 years 08-23-2010 04-01-2031 247,909 9,877 USTDG50411 UF 1,000,000 3.80% 20 years 08-11-2011 04-01-2031 1,025,862 40,872 USTDG50411 UF 100,000 3.70% 20 years 08-12-2011 04-01-2031 102,716 4,092 USTDG50411 UF 1,000,000 3.80% 20 years 08-22-2011 04-01-2031 1,025,862 40,872 USTDG50411 UF 1,900,000 3.80% 17 years 12-19-2013 04-01-2041 1,948,188 77,619 USTDH10411 UF 4,000,000 3.90% 27 years 12-16-2013 09-01-2034 4,111,849 163,823 USTDH20914 UF 3,000,000 3.00% 14 years 04-08-2020 09-01-2039 3,008,689 119,871 USTDH30914 UF 3,000,000 3.10% 19 years 04-08-2020 09-01-2035 3,028,017 120,641 USTDW20320 UF 5,000,000 1.00% 15 years 06-22-2020 09-01-2028 6,155,926 245,263 USTDW70320 UF 1,065,000 3.50% 7 years 01-10-2022 09-01-2028 1,011,395 40,296 USTDW70320 UF 335,000 3.50% 7 years 01-11-2022 09-01-2028 318,138 12,675 USTDW70320 UF 1,800,000 3.60% 7 years 01-12-2022 09-01-2028 1,705,436 67,947 USTDW70320 UF 100,000 3.50% 7 years 01-13-2022 09-02-2028 94,877 3,780 BSNE USD USD 200,000,000 3.80% 10 years 01-15-2020 01-21-2030 199,602,116 185,180 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 129
NOTE 23 - REGULATORY CAPITAL FINANCIAL INSTRUMENTS, continued The detail of subordinated bonds as of December 31, 2025 is as follows: Series Currency Amount placed Annual Issuance rate Issuance period Placement Date Maturity Date Balance in issuing currency Balance as of 12.31.2025 USTD-Z1207 UF 2,000,000 4.10% 22 years 12-28-2007 07-14-2029 1,513,616 60,133 USTD-M0301 UF 30,000 4.40% 20 years 08-24-2006 09-02-2026 30,535 1,213 USTD-M0301 UF 200,000 4.50% 20 years 08-21-2006 09-02-2026 203,447 8,083 USTD-M0301 UF 200,000 4.46% 20 years 08-17-2006 09-02-2026 203,488 8,084 USTD-M0301 UF 140,000 4.40% 20 years 09-06-2006 09-02-2026 142,498 5,661 USTD-M0301 UF 550,000 4.45% 20 years 08-21-2006 09-02-2026 559,648 22,234 USTD-M0301 UF 200,000 4.41% 20 years 08-18-2006 09-02-2026 203,549 8,087 USTD-M0301 UF 200,000 4.40% 20 years 08-18-2006 09-02-2026 203,569 8,087 USTD-M0301 UF 40,000 4.40% 20 years 08-22-2006 09-02-2026 40,714 1,617 USTD-M0301 UF 250,000 4.40% 20 years 08-24-2006 09-02-2026 254,462 10,109 USTD-M0301 UF 500,000 4.40% 20 years 08-25-2006 09-02-2026 508,923 20,218 USTD-M0301 UF 60,000 4.40% 20 years 09-04-2006 09-02-2026 61,071 2,426 USTD-M0301 UF 200,000 4.40% 20 years 09-06-2006 09-02-2026 203,569 8,087 USTD-M0301 UF 240,000 4.40% 20 years 09-07-2006 09-02-2026 244,283 9,705 USTD-M0301 UF 820,000 4.40% 20 years 09-08-2006 09-02-2026 834,634 33,158 USTD-M0301 UF 40,000 4.38% 20 years 09-08-2006 09-02-2026 40,718 1,618 USTD-M0301 UF 920,000 4.40% 20 years 09-08-2006 09-02-2026 936,418 37,202 USTD-M0301 UF 410,000 4.39% 20 years 09-08-2006 09-02-2026 417,317 16,579 USTD-X1107 UF 400,000 4.02% 25 years 12-17-2007 11-03-2032 402,586 15,994 USTD-X1107 UF 25,000 4.02% 25 years 12-17-2007 11-03-2032 25,162 1,000 USTD-X1107 UF 100,000 4.07% 25 years 12-17-2007 11-03-2032 100,355 3,987 USTD-X1107 UF 150,000 4.02% 25 years 12-18-2007 11-03-2032 150,970 5,998 USTD-X1107 UF 210,000 4.02% 25 years 12-17-2007 11-03-2032 211,358 8,397 USTD-X1107 UF 40,000 3.98% 25 years 12-17-2007 11-03-2032 40,351 1,603 USTD-X1107 UF 100,000 4.07% 25 years 12-17-2007 11-03-2032 100,355 3,987 USTD-X1107 UF 50,000 3.97% 25 years 12-17-2007 11-03-2032 50,469 2,005 USTD-X1107 UF 400,000 4.02% 25 years 12-17-2007 11-03-2032 402,586 15,994 USTD-X1107 UF 100,000 4.07% 25 years 12-17-2007 11-03-2032 100,355 3,987 USTD-X1107 UF 175,000 3.98% 25 years 12-17-2007 11-03-2032 176,537 7,013 USTD-X1107 UF 250,000 3.97% 25 years 12-17-2007 11-03-2032 252,346 10,025 USTDG10508 UF 3,000,000 4.66% 25 years 07-25-2008 05-03-2033 2,885,165 114,622 USTDG20908 UF 750,000 4.89% 29 years 12-26-2008 03-02-2038 758,741 30,143 USTDG20908 UF 300,000 4.48% 29 years 01-26-2009 03-02-2038 314,774 12,505 USTDG20908 UF 15,000 3.83% 28 years 06-11-2010 03-02-2038 16,682 663 USTDG20908 UF 30,000 3.84% 28 years 06-14-2010 03-02-2038 33,334 1,324 USTDG20908 UF 50,000 3.85% 28 years 06-16-2010 03-02-2038 55,505 2,205 USTDG20908 UF 50,000 3.84% 28 years 06-16-2010 03-02-2038 55,556 2,207 USTDG20908 UF 35,000 3.84% 28 years 06-17-2010 03-02-2038 38,889 1,545 USTDG20908 UF 25,000 3.85% 28 years 06-17-2010 03-02-2038 27,753 1,103 USTDG20908 UF 500,000 3.85% 28 years 06-25-2010 03-02-2038 555,051 22,051 USTDG20908 UF 539,000 3.84% 28 years 07-01-2010 03-02-2038 598,893 23,793 USTDG20908 UF 228,000 3.85% 28 years 07-01-2010 03-02-2038 253,103 10,055 USTDG20908 UF 478,000 3.85% 28 years 07-06-2010 03-02-2038 530,629 21,081 USTDG30710 UF 120,000 3.95% 24 years 03-14-2011 07-02-2035 122,092 4,850 USTDG30710 UF 100,000 3.95% 24 years 03-15-2011 07-02-2035 101,743 4,042 USTDG30710 UF 300,000 3.95% 24 years 03-16-2011 07-02-2035 305,230 12,126 USTDG30710 UF 46,000 3.95% 24 years 03-17-2011 07-02-2035 46,802 1,859 USTDG30710 UF 200,000 3.95% 24 years 03-17-2011 07-02-2035 203,486 8,084 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 130
NOTE 23 - REGULATORY CAPITAL FINANCIAL INSTRUMENTS, continued Series Currency Amount placed Annual Issuance rate Issuance period Placement Date Maturity Date Balance in issuing currency Balance as of 12.31.2025 USTDG30710 UF 780,000 3.95% 24 years 03-18-2011 07-02-2035 793,597 31,528 USTDG30710 UF 30,000 3.90% 24 years 03-24-2011 07-02-2035 30,640 1,217 USTDG30710 UF 1,424,000 3.90% 24 years 04-06-2011 07-02-2035 1,454,377 57,779 USTDG40710 UF 350,000 3.78% 30 years 08-17-2010 07-02-2040 362,401 14,397 USTDG40710 UF 1,650,000 3.79% 30 years 08-17-2010 07-02-2040 1,706,649 67,802 USTDG40710 UF 300,000 3.78% 30 years 08-18-2010 07-02-2040 310,630 12,341 USTDG40710 UF 60,000 3.75% 30 years 08-19-2010 07-02-2040 62,330 2,476 USTDG40710 UF 400,000 3.76% 30 years 08-19-2010 07-02-2040 415,053 16,489 USTDG40710 UF 240,000 3.71% 30 years 08-23-2010 07-02-2040 250,376 9,947 USTDG50411 UF 1,000,000 3.77% 20 years 08-11-2011 04-02-2031 1,016,483 40,383 USTDG50411 UF 100,000 3.74% 20 years 08-12-2011 04-02-2031 101,790 4,044 USTDG50411 UF 1,000,000 3.77% 20 years 08-22-2011 04-02-2031 1,016,483 40,383 USTDG50411 UF 1,900,000 3.78% 17 years 12-19-2013 04-02-2031 1,930,359 76,689 USTDH10411 UF 4,000,000 3.85% 27 years 12-16-2013 04-02-2041 4,073,607 161,836 USTDH20914 UF 3,000,000 3.00% 14 years 04-08-2020 09-02-2034 3,031,331 120,429 USTDH30914 UF 3,000,000 3.10% 19 years 04-08-2020 09-02-2039 3,052,231 121,259 USTDW20320 UF 5,000,000 0.95% 15 years 06-22-2020 09-02-2035 6,228,991 247,465 USTDW70320 UF 1,065,000 3.46% 7 years 01-10-2022 09-02-2028 1,009,484 40,105 USTDW70320 UF 335,000 3.46% 7 years 01-11-2022 09-02-2028 317,537 12,615 USTDW70320 UF 1,800,000 3.56% 7 years 01-12-2022 09-02-2028 1,702,013 67,617 USTDW70320 UF 100,000 3.50% 7 years 01-13-2022 09-02-2028 94,697 3,765 BSNE USD USD 200,000,000 3.79% 10 years 01-15-2020 01-21-2030 201,377,046 181,378 The detail of bonds with no fixed maturity as of March 31, 2026 and December 31, 2025 is as follows: Series Currency Amount placed Annual Issuance rate Placement date Balance in issuing currency Balance in Ch$mn as of 03.31.2026 AT1 Bond USD 700,000,000 4.63% 10-21-2021 698,873,183 629,468 Series Currency Amount placed Annual Issuance rate Placement Date Balance in issuing currency Balance in Ch$mn as of 12.31.2025 AT1 Bond USD 700,000,000 4.63% 10-21-2021 698,873,183 629,468 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 131
NOTE 24 - PROVISIONS FOR CONTINGENCIES As of March 31, 2026, and December 31, 2025, the composition of the balance of provisions is as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Provisions for employee benefit obligations 29,033 76,285 Provisions for restructuring plans 4,067 4,900 Provisions for lawsuits and litigations 4,649 3,933 Provision for loyalty programmes 38 38 Operational risk 10,855 8,866 Other provisions for other contingencies 64,127 74,572 Total 112,769 168,594 The movement in provisions for contingencies as of March 31, 2026, and December 31, 2025, is shown below: Provisions For employee benefit obligations Restructuring plans Lawsuits and litigation Provisions for customer loyalty and merit programs Operational risk Other Contingency Provisions Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Balance as of January 1, 2026 76,285 4,900 3,933 38 8,866 74,572 168,594 Provisions established 14,071 2,046 1,761 - 2,028 2,081 21,987 Application of provisions (61,096) (2,879) (912) - (39) (12,526) (77,452) Provision release (227) - (133) - - - (360) Reclassifications - - - - - - - Other movements - - - - - - - Balance as of March 31, 2026 29,033 4,067 4,649 38 10,855 64,127 112,769 Balance as of January 1, 2025 73,543 4,325 3,928 38 5,108 34,696 121,638 Provisions established 88,402 8,013 3,005 - 7,529 40,357 147,306 Application of provisions (85,660) (7,438) (2,053) - (3,771) (481) (99,403) Provision release - - (930) - - - (930) Reclassifications - - - - - - - Other movements - - (17) - - - (17) Balance as of December 31, 2025 76,285 4,900 3,933 38 8,866 74,572 168,594 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 132
NOTE 25 - PROVISIONS FOR DIVIDENDS, INTEREST PAYMENTS AND REVALUATION OF REGULATORY CAPITAL FINANCIAL INSTRUMENTS ISSUED The balances, as of March 31, 2026, and December 31, 2025, of provisions for dividends, interest payments and repricing of issued regulatory capital financial instruments are as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Provision for payment of common stock dividends 795,839 631,925 Provision for payment of preferred share dividends - - Provision for interest payments on perpetual bond 12,932 5,265 Provision reappreciation of perpetual bond - - Total 808,771 637,190 The movement in the balance of provisions for dividends, interest payments and repricing of regulatory capital financial instruments issued as of March 31, 2026, and December 31, 2025, is as follows: Provision for payment of common stock dividends Provision for payment of preferred stock dividends Provision for interest payments on perpetual bonds Provision for revaluation of perpetual bonds Ch$mn Ch$mn Ch$mn Ch$mn Balance as of January 1, 2026 631,925 - 5,265 - Provisions established 163,914 - 7,667 - Application of provisions - - - - Provision release - - - - Reclassifying - - - - Others - - - - Balance as of March 31, 2026 795,839 - 12,932 - Provision for payment of common stock dividends Provision for payment of preferred stock dividends Provision for interest payments on perpetual bonds Provision for revaluation of perpetual bonds Ch$mn Ch$mn Ch$mn Ch$mn Balance as of January 1, 2025 600,330 - 5,811 - Provisions established 631,931 - 29,882 - Application of provisions (600,336) - (30,428) - Provision release - - - - Reclassifying - - - - Others - - - - Balance as of December 31, 2025 631,925 - 5,265 - Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 133
NOTE 26 - SPECIAL PROVISIONS FOR CREDIT RISK As of March 31, 2026, and December 31, 2025, the composition of the balance of the special provisions for credit risk is as follows: As of March 31, As of December 31, Special provisions for credit risk 2026 2025 Ch$mn Ch$mn Credit risk provisions for contingent loans Guarantees and sureties 4,458 5,051 Letters of credit for goods movement operations 615 443 Debt purchase commitments in local currencies abroad - - Transactions related to contingent events 17,735 17,998 Immediately repayable unrestricted credit lines 38,529 37,198 Unrestricted credit lines - - Other credit commitments 3,574 1,693 Other contingent loans - - Subtotal 64,911 62,383 Provisions for country risk for operations with debtors domiciled abroad 81 52 Subtotal 81 52 Special provisions for foreign loans - - Subtotal - - Additional provisions Additional provisions for commercial loans 80,000 102,000 Additional provisions for mortgage loans 16,000 17,000 Additional provisions for consumer loans 60,098 60,098 Subtotal 156,098 179,098 Provisions for adjustments to the minimum required provision for normal portfolio with individual assessment - - Subtotal - - Provisions for credit risk for supplementary prudential requirements 6,000 6,000 Subtotal 6,000 6,000 TOTAL 227,090 247,533 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 134
NOTE 26 - SPECIAL PROVISIONS FOR CREDIT RISK, continued The movement in special provisions as of March 31, 2026, and December 31, 2025, is shown below: Special provisions for credit risk as of March 31, 2026 (Ch$mn) Provisions for contingent claims Provisions for local risk Special provisions for foreign loans Additional provisions for loans Provisions for adjustments to minimum provision requirements Provisions due to supplementary prudential requirements Balance as of January 1, 2026 62,383 52 - 179,098 - 6,000 Provision establishment 8,427 59 - - - - Application of provisions - - - - - - Provision release (5,899) (30) - (23,000) - - Other changes in provisions - - - - - - Balance as of March 31, 2026 64,911 81 - 156,098 - 6,000 Special provisions for credit risk as of December 31, 2025 (Ch$mn) Provisions for contingent claims Provisions for local risk Special provisions for foreign loans Additional provisions for loans Provisions for adjustments to minimum provision requirements Provisions due to supplementary prudential requirements Balance as of January 1, 2025 44,762 26 - 293,000 - 6,000 Provision establishment 40,770 148 - - - - Application of provisions - - - - - - Provision release (23,149) (122) - (113,902) - - Other changes in provisions - - - - - - Balance as of December 31, 2025 62,383 52 - 179,098 - 6,000 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 135
NOTE 27 - OTHER LIABILITIES The composition of the item 'other liabilities' as of March 31, 2026, and December 31, 2025, is as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Other liabilities Cash guarantees received for financial derivative transactions (1) 1,848,806 1,541,061 Creditors for intermediation of financial instruments 395,781 100,035 Accounts payable to third parties 403,980 449,232 Valuation adjustments for macro-hedges (2) 43,795 51,690 Revenue liabilities due to income from ordinary activities generated by contracts with customers 5,491 6,473 VAT tax debit payable 22,845 28,639 Pending operations 30,352 19,856 Insurance collections pending settlement 10,013 9,582 Other liabilities 99,902 41,438 Total 2,860,965 2,248,006 (1) Corresponds to guarantees related to certain derivative contracts (threshold transactions). These guarantees operate when the valuation of derivatives exceeds thresholds defined in the respective contracts and may be in favor of or against the Bank. (2) Correspond to the balances of the mark-to-market valuation of net assets or liabilities hedged in a macro-hedge (Note 12). Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 136
NOTE 28 - EQUITY 1. Equity and preferred shares As of March 31, 2026, and December 31, 2025, the Bank has a share capital of Ch$891,303 million comprising 188,446,126,794 authorized shares, which are subscribed and paid in full. All these are ordinary shares with no par value and no preferences. Accordingly, share movements as of March 31, 2026, and December 31, 2025, are as follows: Shares As of March 31, As of December 31, 2026 2025 Issued as of January 1, 188,446,126,794 188,446,126,794 Issuance of paid shares - - Issuance of shares owed - - Exercised stock option - - Total shares 188,446,126,794 188,446,126,794 As of March 31, 2026, and December 31, 2025, the Bank does not hold any of its own shares, nor do the companies that are consolidated by the Bank. As of March 31, 2026, the shareholders' ownership distribution is as follows: Company name or Shareholder name Shares ADRs (*) Total % Of equity holding Santander Chile Holding SA 66,822,519,695 - 66,822,519,695 35.46% Teatinos Siglo XXI Inversiones S.A. 59,770,481,573 - 59,770,481,573 31.72% J P Morgan Chase Bank (ADRs)* - 9,492,194,871 9,492,194,871 5.04% Banks’ custodies for third parties 18,091,745,152 - 18,091,745,152 9.60% Pension funds (AFP) on behalf of third parties 18,947,328,549 - 18,947,328,549 10.05% Stockbrokers on behalf of third parties 5,412,797,755 - 5,412,797,755 2.87% Other minority holders 9,909,059,199 - 9,909,059,199 5.26% Total 178,953,931,923 9,492,194,871 188,446,126,794 100% (*) American Depositary Receipts (ADR) are certificates issued by a U.S. commercial bank and traded on the U.S. securities markets. As of December 31, 2025, the distribution of shareholders is as follows: Company name or Shareholder name Shares ADRs (*) Total % Of equity holding Santander Chile Holding SA 66,822,519,695 - 66,822,519,695 35.46 Teatinos Siglo XXI Inversiones S.A. 59,770,481,573 - 59,770,481,573 31.72 J P Morgan Chase Bank (ADRs)* - 9,980,222,071 9,980,222,071 5.30 Banks’ custodies for third parties 17,715,643,262 - 17,715,643,262 9.40 Pension funds (AFP) on behalf of third parties 19,486,919,574 - 19,486,919,574 10.34 Stockbrokers on behalf of third parties 5,209,519,338 - 5,209,519,338 2.76 Other minority holders 9,460,821,281 - 9,460,821,281 5.02 Total 178,465,904,723 9,980,222,071 188,446,126,794 100.00 (*) American Depositary Receipts (ADR) are certificates issued by a U.S. commercial bank and traded on the U.S. securities markets. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 137
NOTE 28 - EQUITY, continued 2. Reserves At the ordinary Board meeting held on March 24, 2026, it was agreed to call an Ordinary Shareholders’ Meeting for April 28, 2026, in order to propose a distribution of earnings and payment of dividends equivalent to 60% of accumulated earnings as of December 31, 2025, amounting to Ch$3.35334632 per share, and to propose that the remaining 40% of earnings be allocated to increase the Bank’s reserves and retained earnings. As of March 31, 2026, and December 31, 2025, reserves amounted to Ch$3,485,907 million and Ch$3,459,800 million, respectively. 3. Dividends The breakdown of the dividend distribution is presented within the Interim Consolidated Statement of Change in Equity. The provision for the payment of common stock dividends as of March 31, 2026, and December 31, 2025, amounted to Ch$795,839 million and Ch$631,925million, respectively. 4. As of March 31, 2026, and 2025, the composition of diluted profit and basic profit is as follows: As of March 31, 2026 2025 Ch$mn Ch$mn A. Basic earnings per share Profit attributable to equity holders 273,189 277,797 Weighted average number of outstanding shares 188,446,126,794 188,446,126,794 Basic earnings per share (in Ch$) 1.45 1.47 Diluted earnings per share from continuing operations (in Ch$) 1.45 1.47 B. Diluted earnings per share Profit attributable to equity holders 273,189 277,797 Weighted average number of outstanding shares 188,446,126,794 188,446,126,794 Assumed conversion of convertible debt - - Adjusted number of shares 188,446,126,794 188,446,126,794 Basic earnings per share (in Ch$) 1.45 1.47 Diluted earnings per share from continuing operations (in Ch$) 1.45 1.47 The Bank does not hold any dilutive instruments as of March 31, 2026, and 2025. 5. Provision for interest payments on perpetual bonds The Bank records in equity the accrual of interest on perpetual bonds under “Provisions for dividends, interest payments and revaluation of issued regulatory capital instruments.” As of March 31, 2026, and December 31, 2025, the balance amounted to Ch$12,932 million and Ch$5,265 million, respectively. For further information, see Note No. 25. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 138
NOTE 28 - EQUITY, continued 6. Other comprehensive income from investment instruments and cash flow hedges: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Investment instruments Balance as of January 1, (77,905) (67,161) Gain (loss) on valuation adjustment of Investment Financial Instruments portfolio before taxes (3,517) (8,417) Reclassifying and adjustment of the portfolio of Financial Investment Instruments - Net realized profit 167 (2,327) Subtotal (3,350) (10,744) Total (81,255) (77,905) Cash flow hedging Balance as of January 1, (17,188) (77,801) Gain (loss) on valuation adjustment of cash flow hedges before taxes (141,619) 82,619 Reclassifying and adjustments for cash flow hedges before taxes (3,065) (22,006) Amount reclassified from equity included as the book value of non-financial assets and liabilities. Its acquisition or disposal was hedged as a highly probable transition. - - Subtotal (144,684) 60,613 Total (161,872) (17,188) Other comprehensive income before taxes (243,127) (95,093) Income tax related to other comprehensive income components Income tax relating to portfolio of financial investment instruments 21,938 21,035 Income tax relating to cash flow hedges 43,705 4,640 Total 65,643 25,675 Other comprehensive income, net of tax (177,484) (69,418) Attributable to: Equity holders of the Bank (179,259) (71,181) Non-controlling interest 1,775 1,763 The Bank expects all results included in other comprehensive income will be reclassified to profit or loss when specific conditions are met. 7. Non-controlling interest This item includes the net amount of equity of subsidiaries attributable to equity instruments not owned, directly or indirectly, by the Bank, including the share of profit for the year attributable to them. As of March 31, 2026, and December 31, 2025, the balance of equity attributable to owners amounted to Ch$4,739,335 million and Ch$4,719,698 million, respectively, and non-controlling interest amounted to Ch $154,485 million and Ch $119,942 million, respectively. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 139
NOTE 28 - EQUITY, continued The non-controlling interest's share of equity and the results of affiliates are summarized as follows: Other comprehensive income As of March 31, 2026 Participation of third parties Equity Results Financial assets at fair value through other comprehensive income (OCI) Deferred tax Total other comprehen sive income Comprehensi ve income % Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Subsidiary companies Santander Corredora de Seguros Limitada 0.25% 59 1 - - - 1 Santander Corredores de Bolsa Limitada 49.00% 31,967 203 17 (5) 12 215 Santander Asesorías Financieras Limitada 0.97% 163 3 - - - 3 Santander S.A. Sociedad Securitizadora 0.36% 3 - - - - - Sociedad Operadora de Tarjetas de Pago Santander Getnet Chile S.A. 49.99% 29,867 2,624 - - - 2,624 Santander Consumer Finance Limitada 49.00% 80,681 4,331 - - - 4,331 Subtotal 142,740 7,162 17 (5) 12 7,174 Entities controlled through other considerations Santander Gestión de Recaudación y Cobranzas Limitada 100.00% 9,618 68 - - - 68 Multiplica Spa 100.00% 2,127 58 - - - 58 Subtotal 11,745 126 - - - 126 Total 154,485 7,288 17 (5) 12 7,300 Other comprehensive income As of December 31, 2025 Participation of third parties Equity Results Financial assets at fair value through other comprehensive income (OCI) Deferred tax Total other comprehen sive income Comprehensi ve income % Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Subsidiary companies Santander Corredora de Seguros Limitada 0.25% 57 7 – – – 7 Santander Corredores de Bolsa Limitada 49.00% 31,752 1,750 564 (152) 412 2,162 Santander Asesorías Financieras Limitada 0.97% 160 43 – – – 43 Santander SA Sociedad Securitizadora 0.36% 4 (1) – – – (1) Santander Consumer Finance Limitada 49.00% 76,350 13,996 – – – 13,996 Subtotal 108,323 15,795 564 (152) 412 16,207 Entities controlled through other considerations Santander Gestión de Recaudación y Cobranzas Limitada 100.00% 9,550 564 – – – 564 Multiplica Spa 100.00% 2,069 44 – – – 44 Subtotal 11,619 608 – – – 608 Total 119,942 16,403 564 (152) 412 16,815 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 140
NOTE 28 - EQUITY, continued The summary of financial information for the entities included in the consolidation that have non-controlling interests is as follows (this does not include consolidation or standardization adjustments): As of March 31, As of December 31, 2026 2025 Assets Liabilities Capital and reserves Net income Assets Liabilities Capital and reserves Net income Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Santander Corredora de Seguros Limitada Subsidiary 35,364 11,923 22,646 795 34,421 11,775 19,994 2,652 Santander Corredores de Bolsa Limitada Subsidiary 471,859 406,620 64,826 413 179,219 114,418 61,230 3,571 Santander Asesorias Financieras Limitada Subsidiary 18,252 1,452 16,529 271 17,770 1,241 12,086 4,443 Santander S.A. Sociedad Securitizadora Subsidiary 1,296 328 1,002 (34) 1,327 325 1,170 (168) Santander Consumer Finance Limitada Subsidiary 1,081,382 916,727 155,816 8,839 1,056,093 900,277 127,251 28,565 Santander Gestión de Recaudación y Cobranzas Limitada SPE* 12,698 3,080 9,550 68 12,451 2,901 8,986 564 Multiplica Spa SPE* 3,403 1,276 2,069 58 2,917 848 2,025 44 Total 1,756,938 1,417,007 320,645 19,286 1,304,198 1,031,785 232,742 39,671 (* ) Special Purposes Entities: Entities controlled by the Bank through other considerations. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 141
NOTE 29 - CONTINGENCIES AND COMMITMENTS 1. Lawsuits and legal procedures As of the date of issuance of these Interim Consolidated Financial Statements, several lawsuits have been filed against the Bank and its affiliates concerning business operations. As of March 31, 2026, the Bank has provisions for this concept, which amount to Ch$4,649 million (Ch$3,933 million as of December 31, 2025), which are included in the Interim Consolidated Statements of Financial Position under the heading “Provisions for contingencies.” For more information, see Note No. 24. Banco Santander In order to cover the amounts related to legal proceedings in which first- and second-instance rulings have been unfavorable to Banco Santander’s interests, or for possible alternative resolutions to such cases, the Bank has recognized provisions amounting to Ch$4,426 million and Ch$3,758 million as of March 31, 2026, and December 31, 2025, respectively. It is important to note that these amounts have been estimated based on quantitative information from first-instance rulings unfavorable to the Bank, as well as qualitative information related to the proceedings, which includes, among other things, expert opinions on the case, recommendations from the defense attorneys, and experience drawn from judicial rulings in similar cases (jurisprudence) issued by various courts. Santander Corredores de Bolsa Limitada Lawsuit 'Echeverría vs Santander Corredora de Bolsa' (currently Santander Corredores de Bolsa Ltda), filed before the 21st Civil Court of Santiago, Role C- 12.366-2014, regarding compensation for damages due to failures in the purchase of shares, the amount of the claim is Ch$60 million. As of March 31, 2026, the case is pending reopening of the proceedings and resolution of the motion for abandonment of proceedings filed by the brokerage firm. Lawsuit 'Chilena de Computación vs Banco Santander and Santander Corredores de Bolsa' filed before the 3rd Civil Court of Santiago, Role C-12325-2020. As of March 31, 2026, the lawsuit is in the current discussion stage, the documents requested by the Court have been exhibited, and possible actions by the petitioners are pending. Santander Corredora de Seguros Limitada Existing lawsuits amount to UF 16,505, which mainly relate to assets under leasing. Our lawyers have not estimated any material losses from these lawsuits. Santander Consumer Finance Limitada Currently, there are 57 lawsuits corresponding to processes mainly related to clients. Our lawyers have not estimated any material losses from these lawsuits. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 142
NOTE 29 - CONTINGENCIES AND COMMITMENTS, continued 2. Contingent loans The Bank entered various irrevocable commitments and contingent obligations to meet customers' needs. Although these obligations should not be recognized in the Interim Consolidated Financial Statements, they contain credit risk and are part of the Bank's overall risk. The following table shows the contractual amounts that oblige the Bank to grant loans: Contingent loans As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Guarantees and sureties 504,010 556,196 Guarantees and sureties in Chilean currency 259,883 308,861 Guarantees and sureties in foreign currency 244,127 247,335 Letters of credit for goods movement transactions 325,438 249,140 Transactions related to contingent events 1,944,533 1,871,802 Transactions related to contingent events in Chilean currency 1,308,310 1,264,781 Transactions related to contingent events in foreign currencies 636,223 607,021 Immediately repayable unrestricted credit lines 10,755,901 10,584,496 Other credit commitments 198,089 246,799 Student loans for higher education under Law No. 20,027 (CAE) 228 235 Other irrevocable credit commitments 197,861 246,564 Total 13,727,971 13,508,433 3. Third-party and custody operations As part of its normal course of business, the Bank holds securities on behalf of third parties as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Third-party operations Collections 82,838 81,175 Transferred financial assets managed by the Bank 132,341 134,794 Assets from third parties managed by the Bank 3,135,174 2,937,572 Subtotal 3,350,353 3,153,541 Custody of securities Securities held in custody by a banking subsidiary deposited in another entity 1,466,236 1,221,128 Securities held in custody by the bank 16,475,953 15,957,950 Securities issued by the bank 16,974,371 16,089,475 Subtotal 34,916,560 33,268,553 Total 38,266,913 36,422,094 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 143
NOTE 29 - CONTINGENCIES AND COMMITMENTS, continued 4. Guarantees Banco Santander-Chile has a comprehensive bank policy for Employee Fidelity coverage N°0406961 in force with Compañía de Zurich Chile Seguros Generales S.A., with coverage of USD50,000,000 per claim with an annual cap of USD100,000,000,which jointly covers the Bank and its subsidiaries with an expiration date of June 30, 2026. Santander Corredores de Bolsa Limitada As of March 31, 2026, the Company maintains guarantees deposited with the Santiago Stock Exchange to cover simultaneous transactions carried out with its own portfolio, totaling Ch$9,736 million (Ch$9,633 million as of December 31, 2025). As of March 31, 2026, the Company does not maintain guarantees posted with the Chilean Commodities Exchange (Ch$153 million as of December 31, 2025). Additionally, as of March 31, 2026, the Company maintains a guarantee with CCLV Contraparte Central S.A., in fixed-income securities, amounting to Ch$9,970 million (Ch$10,207 million as of December 31, 2025). To ensure full and proper compliance with all its obligations as a Stockbroker, in accordance with Articles 30 and following of Law No. 18,045 on the Securities Market, the Company has delivered fixed-income securities to the Santiago Stock Exchange with a present value of Ch$1,012 million as of March 31, 2026 (Ch$1,001 million as of December 31, 2025). This corresponds to a time deposit with Banco Santander, maturing on June 16, 2026. As of March 31, 2026, the Company holds a guarantee for securities lending in the amount of Ch$8,722 million (Ch$8,632 million as of December 31, 2025). As of March 31, 2026, the Company has a guarantee bond No. B287862 issued by Banco Santander Chile, in compliance with General Rule No. 120 of the FMC, with respect to placement, transfer and redemption activities of Morgan Stanley funds, in the amount of US$ 300,000. This bond covers participants acquiring shares of the Morgan Stanley Sicav foreign open-end funds and matures on April 30, 2026. Santander Corredora de Seguros Limitada In accordance with Circular No. 1,160 issued by the FMC, the Company maintains an insurance policy to ensure the proper and complete fulfillment of all obligations arising from its operations as an insurance brokerage intermediary. The insurance guarantee policy for insurance brokers N°6676376, which covers UF 500, and the professional liability insurance policy for insurance brokers N°6676373, covering an amount equivalent to UF 60,000, were contracted with Compañía de Seguros Generales Consorcio Nacional de Seguros S.A. Both policies are valid from April 15, 2025, to April 14, 2026. The Company maintains guarantee bonds to secure due compliance with the terms of the public tender for (i) the fire and earthquake insurance covering the residential mortgage portfolio and (ii) the Bank’s professional services. The amounts are UF 500 and UF 10,000, respectively, both issued with the same financial institution and maturing on December 31, 2026. The Company maintains a guarantee bond with Banco Santander Chile to secure compliance with the terms of the public tender for the mortgage life insurance covering the housing loan portfolio and the Bank’s professional services. The amount is UF 10,000, issued with the same financial institution, with a maturity date of October 30, 2027. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 144
NOTE 30 - INTEREST INCOME AND EXPENSES This comprises the interest accrued in the year for all financial assets whose performance, implicit or explicit, is obtained by applying the effective interest rate method, regardless of whether they are valued at their fair value, as well as product rectifications as a consequence of hedge accounting. 1. As of March 31, 2026, and 2025, the composition of interest income is as follows: As of March 31, 2026 2025 Ch$mn Ch$mn Financial assets at amortized cost Rights under repurchase and securities lending agreements 2,656 2,981 Debt financial instruments 53,733 51,790 Interbank loans 103 420 Commercial loans 281,162 293,802 Mortgage loans 146,819 149,810 Consumer loans 201,566 207,041 Other financial instruments 31,440 28,184 Subtotal 717,479 734,028 Financial assets at fair value through other comprehensive income Debt financial instruments 28,875 24,147 Other financial instruments 4,356 1,033 Subtotal 33,231 25,180 Results of interest rate-risk hedge accounting 81,594 78,809 Total interest income 832,304 838,017 As of March 31, 2026, and 2025, the amount of suspended interest income is as follows: As of March 31, 2026 2025 Off-balance sheet - interest income Ch$mn Ch$mn Commercial loans 23,085 24,341 Mortgage loans 11,761 9,882 Consumer loans 3,034 3,313 Total 37,880 37,536 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 145
NOTE 30 - INTEREST INCOME AND EXPENSES, continued 2. As of March 31, 2026, and 2025, the composition of interest expense is as follows: As of March 31, 2026 2025 Ch$mn Ch$mn Financial liabilities at amortized cost Deposits and other demand liabilities (1,423) (2,457) Time deposits and other term equivalents (180,637) (196,008) Repurchase agreements (26,863) (10,063) Interbank borrowing (35,945) (55,169) Debt financial instruments issued (63,119) (60,256) Other financial liabilities (11,620) (16,383) Subtotal (319,607) (340,336) Obligations under leasing contracts (2,675) (2,277) Regulatory capital financial instruments (17,191) (17,825) Results of interest rate-risk hedge accounting (35,321) (53,739) Total interest expenses (374,794) (414,177) Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 146
NOTE 31 - READJUSTMENT INCOME AND EXPENSE This line item includes the accrued inflation adjustments during the period for all financial assets whose yield, whether implicit or explicit, is obtained by applying the effective interest rate method, regardless of whether they are measured at fair value, as well as adjustments to income resulting from accounting hedges. 1. As of March 31, 2026, and 2025, the composition of readjustment income is as follows: As of March 31, 2026 2025 Ch$mn Ch$mn Financial assets at amortized cost Rights under repurchase and securities lending agreements - - Debt financial instruments 4,514 22,108 Interbank loans - - Commercial loans 18,079 73,710 Mortgage loans 49,681 210,953 Consumer loans 15 40 Other financial instruments 8,902 1,020 Subtotal 81,191 307,831 Financial assets at fair value through other comprehensive income Debt financial instruments 4,399 4,573 Other financial instruments 879 646 Subtotal 5,278 5,219 Results of hedge accounting of the UF readjustment risk (44,197) (181,167) Total readjustment income 42,272 131,883 As of March 31, 2026, and 2025, the amount of suspended readjustment income is as follows: As of March 31, 2026 2025 Off-balance sheet - readjustment income Ch$mn Ch$mn Commercial loans 17,378 23,842 Mortgage loans 26,905 30,604 Consumer loans 101 180 Total 44,384 54,626 2. As of March 31, 2026, and 2025, the composition of the inflation readjustment expenses, including the results from hedge accounting, is as follows: As of March 31, 2026 2025 Ch$mn Ch$mn Readjustment expenses Deposits and other demand liabilities (299) (1,350) Time deposits and other deposits (1,594) (7,675) Obligations under repurchase and securities lending agreements - - Interbank loans - - Issued debt financial instruments (10,524) (48,870) Other financial liabilities (849) (1,610) Financial instruments of regulatory capital issued (4,782) (20,068) Result of UF, PPI and CPI risk hedge accounting. 7,793 37,484 Total expense for readjustments (10,255) (42,089) Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 147
NOTE 32 - COMMISSION INCOME AND EXPENSES This line item includes the amount of all fees accrued and paid during the period, except those that are an integral part of the effective interest rate of financial instruments: As of March 31, 2026 2025 Ch$mn Ch$mn Income from commissions and services rendered Commissions for prepayment of loans 4,266 3,805 Commissions for loans with letters of credit - 1 Commissions for lines of credit and overdrafts 420 287 Commissions for guarantees and letters of credit 9,591 12,014 Commissions for card services 147,285 143,516 Commissions for checking account maintenance 20,228 19,090 Commissions for collections and payments 15,398 16,897 Commissions for brokerage and management of securities 5,049 3,024 Commissions for brokerage of insurance and insurance advisory 16,332 12,355 Commissions for factoring services 246 324 Commissions for securitization - - Commissions for financial advice 8,432 8,160 Office Banking - Fees for other services - Other services rendered 43,089 44,597 Total 270,336 264,070 This item comprises the amount of all fees accrued and paid during the period, except those that are an integral part of the effective interest rate of financial instruments: As of March 31, 2026 2025 Ch$mn Ch$mn Expenses for commissions and services rendered Commissions for card operation services (51,997) (47,039) License fees for the use of card brands (2,347) (2,874) Other commissions for services linked to the credit card system and payment cards with fund provision as a means of payment — (12) Expenses for obligations of consumer loyalty and merit programs for client cards (31,971) (32,477) Commissions for securities transactions (3,064) (4,372) Office banking — Inter-bank services — Other commission paid for services received (26,025) (29,045) Total (115,404) (115,819) Total net fee and commission income and expenses 154,932 148,251 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 148
NOTE 32 - COMMISSION INCOME AND EXPENSES, continued This item presents the income and expenses from commissions generated by the different segments of business and the revenue recognition schedule for ordinary activities. Revenue recognition schedule for ordinary activities Al March 31, 2026 Retail & Commercial Wealth Management & Insurance Global Corporate Banking Payments DCF Total Transferred through time Transferred at a specific time Accrual model Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Commission income Commissions for prepayment of loans 4,258 47 (39) - - 4,266 - 4,266 - Commissions for loans with letters of credit - - - - - - - - - Commissions for credit lines and current accounts overdraft 172 - 248 - - 420 171 249 - Commissions for guarantees and letters of credit 5,459 68 4,064 - - 9,591 9,375 216 - Commissions for card services 86,359 1,442 205 59,279 - 147,285 22,639 124,646 - Commissions for checking account maintenance 19,923 63 242 - - 20,228 18,741 1,487 - Commissions for collections and payments 9,744 210 1,699 6 3,739 15,398 10,152 5,246 Commissions for brokerage and management of securities (380) 2,008 3,421 - - 5,049 - 5,049 - Commissions for brokerage of insurance and insurance advisory (10) 16,318 - 24 - 16,332 - - 16,332 Commissions for factoring services 145 - 101 - - 246 - 246 - Commissions for securitization - - - - - - - - - Commissions for financial advice 4,502 - 3,930 - - 8,432 - 8,432 - Other commissions earned 28,318 3,874 1,692 9,196 9 43,089 - 43,089 - Total 158,490 24,030 15,563 68,505 3,748 270,336 50,926 197,832 21,578 Commission expenses Commissions for card operation services (16,566) (193) (29) (35,209) - (51,997) - (51,997) - License fees for the use of card brands (828) (30) (4) (1,485) - (2,347) - (2,347) - Commissions for services related to the credit card system and prepaid cards - - - - - - - - - Commissions for obligations of loyalty programs and merits for card customers (31,122) (799) (50) - - (31,971) - (31,971) - Commissions for securities transactions (2,627) (58) (379) - - (3,064) - (3,064) - Other commission paid for services received 1,014 (14,736) (2,573) (9,124) (606) (26,025) - (26,025) - Total (50,129) (15,816) (3,035) (45,818) (606) (115,404) - (115,404) - Total net fee and commission income and expenses 108,361 8,214 12,528 22,687 3,142 154,932 50,926 82,428 21,578 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 149
NOTE 32 - COMMISSION INCOME AND EXPENSES, continued Segments Revenue recognition schedule for ordinary activities Al March 31, 2025 Retail & Commercial Wealth Management & Insurance Global Corporate Banking Payments DCF Total Transferred through time Transferred at a specific time Accrual model Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Commission income Commissions for prepayment of loans 3,794 9 2 - - 3,805 - 3,805 - Commissions for loans with letters of credit 1 - - - - 1 - 1 - Commissions for credit lines and current accounts overdraft 162 - 125 - - 287 123 164 - Commissions for guarantees and letters of credit 7,012 6 4,996 - - 12,014 11,784 230 - Commissions for card services 71,857 1,107 2,784 67,768 - 143,516 21,813 121,703 - Commissions for checking account maintenance 18,736 39 315 - - 19,090 17,511 1,579 - Commissions for collections and payments 12,106 165 2,201 - 2,425 16,897 - 10,926 5,971 Commissions for brokerage and management of securities (112) 931 2,205 - - 3,024 - 3,024 - Commissions for brokerage of insurance and insurance advisory 15 12,340 - - - 12,355 - - 12,355 Commissions for factoring services 215 - 109 - - 324 - 324 - Commissions for securitization - - - - - - - - - Commissions for financial advice 5,219 - 2,941 - - 8,160 - 8,160 - Other commissions earned 39,545 3,413 1,643 (4) - 44,597 - 44,597 - Total 158,550 18,010 17,321 67,764 2,425 264,070 51,231 194,513 18,326 Commission expenses Commissions for card operation services (1,442) (182) (2,002) (43,413) - (47,039) - (47,039) - License fees for the use of card brands (2,665) (27) (182) - - (2,874) - (2,874) - Other commissions for services linked to the credit card system and payment cards with fund provision as a means of payment (12) - - - - (12) - (12) - Expenses for obligations of consumer loyalty and merit programs for client cards (31,872) (605) - - - (32,477) - (32,477) - Commissions for securities transactions (3,965) (12) (395) - - (4,372) - (4,372) - Other commission paid for services received (16,495) (10,164) (1,814) - (572) (29,045) - (29,045) - Total (56,451) (10,990) (4,393) (43,413) (572) (115,819) - (115,819) - Total net fee and commission income and expenses 102,099 7,020 12,928 24,351 1,853 148,251 51,231 78,694 18,326 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 150
NOTE 33 - NET FINANCIAL INCOME This line item includes the amount of adjustments due to changes in financial instruments, except those attributable to accrued interest from the application of the effective interest rate method for asset value adjustments, as well as the results obtained from their sale. As of March 31, 2026, and 2025, the detail of the results from financial operations is as follows: As of March 31, 2026 2025 Ch$mn Ch$mn Results from financial assets held for trading at fair value through profit or loss Financial derivatives contracts 104,721 (32,301) Debt financial instruments 9,672 2,471 Other financial instruments 7 5 Subtotal 114,400 (29,825) Results from financial liabilities held for trading at fair value through profit or loss Financial derivatives contracts 16,956 - Other financial instruments - - Subtotal 16,956 - Financial results from financial assets not held for trading mandatory measured at fair value through profit or loss Debt financial instruments - - Other - - Subtotal - - Financial results from financial assets designated at fair value through profit or loss Debt financial instruments - - Other financial instruments - - Subtotal - - Financial results from financial liabilities designated at fair value through profit or loss Demand deposits and other demand liabilities, and time deposits and other term equivalents - - Issued debt instruments - - Other - - Subtotal - - Financial results on recognition of financial assets and liabilities at amortized cost and financial assets at fair value through other comprehensive income Financial assets at amortized cost 8,823 389 Financial assets at fair value through other comprehensive income 182 (4,432) Financial liabilities at amortized cost 34 - Financial instruments of regulatory capital issued - - Subtotal 9,039 (4,043) Total 140,395 (33,868) Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 151
NOTE 33 - NET FINANCIAL INCOME, continued As of March 31, 2026, and 2025, the details of the financial results from foreign currency exchanges, adjustments, and hedge accounting are as follows: As of March 31, 2026 2025 Ch$mn Ch$mn Financial results from foreign exchange, foreign exchange restatements and hedging of foreign currencies Result from foreign exchange (199,654) 283,323 Exchange rate readjustment results 1,971 (5,645) Financial assets held for trading at fair value through profit or loss - - Non-trading financial assets mandatory measured at fair value through profit or loss - - Financial assets designated at fair value through profit or loss - - Financial assets at fair value through other comprehensive income - - Financial assets at amortized cost 1,971 (5,653) Other assets - - Financial liabilities at amortized cost - - Financial liabilities held for trading at fair value through profit or loss - 8 Financial liabilities designated at fair value through profit or loss - - Financial instruments of regulatory capital issued - - Net result of derivatives in foreign currency risk hedge accounting 142,546 (172,594) Subtotal (55,137) 105,084 Financial results from reclassifying financial assets due to changes in the business model From financial assets at amortized cost to financial assets for trading at fair value through profit or loss - - From financial assets at fair value through other comprehensive income to financial assets held for trading at fair value through profit or loss - - Subtotal - - Other financial results from changes in financial assets and liabilities Financial assets at amortized cost - - Financial assets at fair value through other comprehensive income - - Financial liabilities at amortized cost - - Obligations under leasing contracts - - Financial instruments of regulatory capital issued - - Subtotal - - Other financial results from ineffective hedge accounting - - Other financial results from other hedge accounting - - Subtotal - - Total Net financial income 85,258 71,216 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 152
NOTE 34 - INCOME FROM INVESTMENTS IN COMPANIES The Interim Consolidated Financial Statements present results from investments in companies of Ch$1,225 and Ch$1,213 million as of March 31, 2026, and 2025, according to the following details: As of March 31, Participation Result from investments 2026 2025 2026 2025 % % Ch$mn Ch$mn Companies Redbanc S.A. 33.43 33.43 295 185 Transbank S.A 25.00 25.00 278 302 Centro de Compensación Automatizado S.A 33.33 33.33 366 368 Sociedad Interbancaria de Depósito de Valores S.A 29.29 29.29 144 128 Cámara de Compensación de Alto Valor S.A. 13.72 13.72 36 43 Administrador Financiero del Transantiago S.A. 20.00 20.00 122 139 Servicios de Infraestructura de Mercado OTC S.A. 12.48 12.48 (16) 48 Subtotal 1,225 1,213 Shares or rights in other companies Stock exchange - - Other - - Subtotal - - Results from the sale of ownership in investment in companies Companies in the country - - Subtotal - - Total 1,225 1,213 For more detailed financial information on the companies, see Note 14. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 153
NOTE 35 - NON-CURRENT ASSETS AND DISPOSAL GROUPS NOT QUALIFYING AS DISCONTINUED OPERATIONS The composition of the result on non-current assets and disposable groups that do not classify as discontinued transactions is as follows: As of March 31, 2026 2025 Ch$mn Ch$mn Net results from assets received in payment or awarded in a judicial auction Sale of goods received in lieu of payment or awarded in a judicial auction 1,009 1,393 Other income from assets received in lieu of payment or awarded in a judicial auction 6,320 4,483 Provisions to the net realizable value of assets received in lieu of payment or awarded in a judicial auction 48 442 Charge-offs of assets received in payment or awarded in a judicial auction (10,218) (11,323) Expenses for maintenance of assets received in lieu of payment or awarded in a judicial auction (841) (777) Non-current assets held for sale and disposal group 878 – Total (2,804) (5,782) Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 154
NOTE 36 - OTHER OPERATING INCOME AND EXPENSES 1. Other operating income is comprised of the following items: As of March 31, 2026 2025 Ch$mn Ch$mn Leases 246 102 Income from expense recovery 135 166 Compensation from insurance companies for claims other than operational risk events 5 – Other income 4,902 486 Total 5,288 754 2. Other operating expense is comprised of the following items: As of March 31, 2026 2025 Ch$mn Ch$mn Expenditure on insurance premiums to cover operational risk events - (392) Provisions for operational risk (2,356) (1,415) Expense for operational risk events (6,210) (11,364) Operational risk event expense recoveries 772 5,431 Reorganization plans (*) (9,185) - Provisions for lawsuits and litigation (80) (49) Expenses from financial leasing credit operations (211) (1,069) Expenses for factoring credit operations (37) (81) Other operating expenses 4,182 (6,187) Total (13,125) (15,126) (*) This corresponds to a formal restructuring plan consistent with the provisions of IAS 37. This restructuring plan is part of the Bank’s transformation process aimed at building a digital bank with branches. It has involved a transformation of the branch model and the operating model, along with a transition toward a common global structure (Go To Model). Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 155
NOTE 37 - EXPENSES FROM OBLIGATIONS TO EMPLOYEES The expenses from obligations to employees as of March 31, 2026, and 2025, are as follows: As of March 31, 2026 2025 Ch$mn Ch$mn Employee benefits (short-term) (85,430) (83,074) Employee benefits (long-term) (3,957) (3,356) Expenses of employment benefits related to contract terminations (7,241) (4,511) Expenses for defined benefit post-employment plan obligations (245) (205) Other human resources costs (1,976) (2,917) Total (98,849) (94,063) Share-based compensation (settled in cash) The Bank provides certain executives of the Bank and its affiliates a share-based payment benefit, which is settled in cash according to the requirements of IFRS 2. Accordingly, the Bank measures services received, and liabilities incurred at fair value. Until settlement of the liability, the Bank determines the liability's fair value at the end of each reporting period and on the settlement date, with any fair value changes recognized in the period results. Pension plan The Bank has an additional benefit available to its senior executives, consisting of a pension plan with funds to provide for a better complementary pension upon retirement. In this respect, the Bank will complement the voluntary contributions made by beneficiaries for their future pension with an equal contribution. Executives shall earn the right to receive this benefit only if they meet the following concurrent conditions: a. Aimed at the Group's senior management. b. The general requirement for eligibility is to be still employed when they are 60 years old. c. The Bank will contract a mixed collective insurance policy (life and savings) for each executive, with the contracting party and beneficiary being the Group company to which the executive belongs. In the event of termination of the employment relationship between the executive and the respective company before meeting the conditions described above, no entitlement shall accrue to them under this benefit plan. Exceptionally, in the event of the manager's death or their total or partial disability, the manager or their heirs shall be entitled to receive this benefit as the case may be. The Bank will contribute to this benefit plan based on mixed group insurance policies, the beneficiary of which is the Bank. The life insurance company with which these policies are contracted is unrelated to the Bank or any other Group company. The Bank's entitlements under the plan as of March 31, 2026, and 2025 amounted to Ch$3,752 y Ch$3,462 million, respectively (Ch$4,107 millions as of December 31, 2025). The Bank has quantified the amounts of the defined benefit obligations based on the following criteria: Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 156
NOTE 37 - EXPENSES FROM OBLIGATIONS TO EMPLOYEES, continued Calculation method: The projected unit credit method is used, which considers each year of service as generating an additional unit of benefit entitlement and values each unit separately. It is calculated according to the fund contribution that considers as the main parameters the factors related to the legal annual pension ceiling, the years of service, age and annual income of each unit valued individually. Actuarial assumptions used: Actuarial assumptions regarding demographic and financial variables are unbiased and mutually compatible. The most significant actuarial assumptions considered in the calculations were: The assets related to the savings fund contributed by the Bank to Compañía de Seguros Zurich, for defined benefit plans, are presented net of the associated obligations. The assumptions used correspond to. Post-Employment Plans As of March 31, As of December 31, 2026 2025 Mortality chart RV-2014 RV-2014 Termination of contract rate 5.0% 5.0% Disability chart PDT 1985 PDT 1985 The movement in the period for post-employment benefits is as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Assets for defined post-employment benefits 3,752 3,462 Commitments for defined benefit plans With active personnel (3,014) (2,769) Caused by inactive personnel - - Minus: Unrecognized actuarial (gains) losses - - Balances at the end of the period 738 693 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 157
NOTE 37 - EXPENSES FROM OBLIGATIONS TO EMPLOYEES, continued The period cash flow for post-employment benefits is as follows: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Fair value of plan assets Balance at the beginning of the period 3,462 4,107 Expected return on insurance contracts 66 151 Employer contributions 224 1,277 Actuarial (gains) losses - - Premiums paid - - Benefits paid - (2,073) Fair value of plan assets at the end of the period 3,752 3,462 Present value of obligations Present value of the obligations at the beginning of the period (2,769) (3,138) Net incorporation of companies into the Group - - Current period service costs (245) 283 Reduction/settlement effects - - Benefits paid - - Past service costs - - Actuarial (gains) losses - - Other movements - 86 Present value of obligations at the end of the period (3,014) (2,769) Net balance at the end of the period 738 693 Expected performance of the Plan: As of March 31, As of December 31, 2026 2025 Expected rate of return on plan assets UF + 2.50% per year UF + 2.50% per year Expected rate of return on redemption rights UF + 2.50% per year UF + 2.50% per year Costs related to the Plan: As of March 31, As of December 31, 2026 2025 Ch$mn Ch$mn Current period service costs (245) 283 Interest cost - - Expected return on plan assets 66 151 Extraordinary allocations - - Actuarial (gains)/losses recorded in the period - - Past service cost - - Other - - Total (179) 434 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 158
NOTE 38 - ADMINISTRATIVE EXPENSE As of March 31, 2026, and 2025, Administrative Expenses is composed of the following items: As of March 31, 2026 2025 Ch$mn Ch$mn General administrative expenses (55,121) (58,001) Expenses for short-term lease agreements (7,112) (2,847) Expenses for low-value leases - - Other expenses for lease obligations (12) (10) Maintenance and repair of fixed assets (7,598) (6,021) Insurance premiums except to cover operational risk events (1,029) (1,278) Office Supplies (1,055) (1,334) IT and communication expenses (25,897) (32,463) Lighting, heating, and other utilities (1,041) (2,032) Security and valuables transport services (3,933) (4,376) Representation and personnel travel expenses (929) (1,217) Judicial and notarial expenses (384) (297) Fees for review and audit of the financial statements by the external auditor (242) (346) Fees for advisory and consultancy services provided by the external auditor - - Fees for advisory and consultancy services provided by other audit firms (66) (44) Fees for securities classification - - Fees for other technical reports (1,151) (1,321) Fines applied by the FMC (99) - Fines applied by other bodies - - Other general administrative expenses (4,573) (4,415) Outsourced services (26,909) (41,816) Data processing (14,034) (33,250) Technology development, certification and technology testing service (161) (286) External human resources management and external staffing service - - Valuation service - - Call Centre service for sales, marketing, quality control and customer service - - External collection service (87) (73) Outsourced ATM management and maintenance services (111) - External cleaning service, catering, custody of files and documents, furniture and equipment storage. (855) (1,125) Product sales and distribution services - - External credit appraisal service (481) (1,115) Other outsourced services (11,180) (5,967) Board expenses (445) (451) Remuneration of the Board of Directors (445) (451) Other Board Expenses - - Marketing expenses (3,960) (5,614) Taxes, contributions, fees (5,204) (4,840) Real estate taxes (219) (703) Licenses (728) (381) Other taxes - (179) Regulatory oversight contributions (4,257) (3,577) Other legal charges - - Total (91,639) (110,722) Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 159
NOTE 39 - DEPRECIATION AND AMORTIZATION The amounts corresponding to depreciation and amortization expenses as of March 31, 2026, and 2025 are detailed below: As of March 31, 2026 2025 Ch$mn Ch$mn Amortization of intangible assets (11,203) (12,533) Depreciation of fixed assets (12,565) (12,432) Depreciation and amortization of assets for rights to use assets in leases (10,748) (10,211) Total Depreciation and Amortization (34,516) (35,176) The reconciliation between the book values and the balances as of March 31, 2026, and 2025, is as follows: Depreciation and amortization Fixed assets Intangible assets Right-of-use leased assets Total Ch$mn Ch$mn Ch$mn Ch$mn Balance as of January 1, 2026 (474,004) (384,315) (234,917) (1,093,236) Depreciation and amortization charges for the period (12,565) (11,203) (10,748) (34,516) Disposals and sales for the period 1,035 - 16,743 17,778 Impairment - 150 - 150 Other 2 - - 2 Balance as of March 31, 2026 (485,532) (395,368) (228,922) (1,109,822) Depreciation and amortization Fixed assets Intangible assets Right-of-use leased assets Total Ch$mn Ch$mn Ch$mn Ch$mn Balance as of January 1, 2025 (473,998) (342,198) (216,325) (1,032,521) Depreciation and amortization charges for the period (12,432) (12,533) (10,211) (35,176) Disposals and sales for the period 341 - 7,283 7,624 Impairment - - - - Other (5) (1) - (6) Balance as of March 31, 2025 (486,094) (354,732) (219,253) (1,060,079) Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 160
NOTE 40 - IMPAIRMENT OF NON-FINANCIAL ASSETS The amounts corresponding to impairment charges to income as of March 31, 2026, and 2025 are detailed below: As of March 31, 2026 2025 Ch$mn Ch$mn Impairment of investments in companies - - Impairment of intangible assets (134) (164) Impairment of fixed assets - - Impairment of assets for the right to use leased assets - - Impairment of other assets for investment properties - - Impairment of other assets due to income from ordinary activities generated by contracts with customers - - Acquisition gain through a business combination on highly advantageous terms - - Total (134) (164) Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 161
NOTE 41 - CREDIT LOSS EXPENSES The movement to March 31, 2026, and 2025, in credit loss expense is summarized as follows: 1. The breakdown of credit loss expenses as of March 31, 2026, and 2025, is as follows: As of March 31, Summary of loan loss expense in the period 2026 2025 Ch$mn Ch$mn Provision expense for loan credit risk (230,488) (263,127) Special provisions expense for credit risk 21,062 77,042 Recovery of previously charged-off loans 51,019 46,858 Impairment for credit risk of other financial assets not measured at fair value through profit or loss (370) (274) Total (158,777) (139,501) 2. The flow of provision expenses established for credit risk and credit loss expenses on loans as of March 31, 2026, and 2025, is as follows: Summary of Provision expenses related to credit risk and credit loss expense -As of March 31, 2026 Loan loss provision expenses in the period Normal portfolio Substandard Portfolio Impaired portfolio Subtotal FOGAPE Covid-19 guarantee deductible Assessment Assessment Assessment Total Individual Group Individual Individual Group(Ch$mn) Interbank loans Provisions established (53) - - - - (53) - (53) Provision released 103 - - - - 103 - 103 Subtotal 50 - - - - 50 - 50 Commercial loans Provisions established (6,565) (5,027) (20,388) (102,971) (34,731) (169,682) (74) (169,756) Provision released 6,355 3,677 29,318 21,563 2,775 63,688 1,252 64,940 Subtotal (210) (1,350) 8,930 (81,408) (31,956) (105,994) 1,178 (104,816) Mortgage loans Provisions established - (1,174) - - (19,449) (20,623) - (20,623) Provision released - 1,488 - - 473 1,961 - 1,961 Subtotal - 314 - - (18,976) (18,662) - (18,662) Consumer loans Provisions established - (1,954) - - (111,590) (113,544) - (113,544) Provision released - 1,550 - - 4,934 6,484 - 6,484 Subtotal - (404) - - (106,656) (107,060) - (107,060) Provision expense for loans and receivable credit risk (160) (1,440) 8,930 (81,408) (157,588) (231,666) 1,178 (230,488) Recovery of previously charged- off loans Interbank loans - Commercial loans 24,268 Residential mortgage loans 14,836 Consumer loans 11,915 Subtotal 51,019 Total (179,469) Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 162
NOTE 41 - CREDIT LOSS EXPENSES, continued Summary of Provision expenses related to credit risk and credit loss expense -As of March 31, 2025 Loan loss provision expenses in the period Normal portfolio Substandard Portfolio Impaired portfolio Subtotal FOGAPE Covid-19 guarantee deductible Assessment Assessment Assessment Total Individual Group Individual Individual Group (Ch$mn) Interbank loans Provisions established (82) – – – – (82) – (82) Provision released 24 – – – – 24 – 24 Subtotal (58) – – – – (58) – (58) Commercial loans Provisions established (6,011) (5,107) (8,155) (18,750) (55,580) (93,603) (63) (93,666) Provision released 6,774 4,101 4,327 14,386 2,144 31,732 1,298 33,030 Subtotal 763 (1,006) (3,828) (4,364) (53,436) (61,871) 1,235 (60,636) Mortgage loans Provisions established – (816) – – (32,662) (33,478) – (33,478) Provision released – 682 – – 27 709 – 709 Subtotal – (134) – – (32,635) (32,769) – (32,769) Consumer loans Provisions established – (90,601) – – (94,793) (185,394) – (185,394) Provision released – 4,787 – – 10,943 15,730 – 15,730 Subtotal – (85,814) – – (83,850) (169,664) – (169,664) Provision expense for loans and receivable credit risk 705 (86,954) (3,828) (4,364) (169,921) (264,362) 1,235 (263,127) Recovery of previously charged- off loans Interbank loans – Commercial loans 22,866 Residential mortgage loans 13,581 Consumer loans 10,411 Subtotal 46,858 Total (216,269) Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 163
NOTE 41 - CREDIT LOSS EXPENSES, continued The balances of special provisions for credit risk expenses as of March 31, 2026, and 2025, is as follows: As of March 31, Summary of special provisions expense related to credit risk for the period 2026 2025 Ch$mn Ch$mn Provision expense for contingent loans (1,909) (16,808) Interbank loans – – Commercial loans 1,323 3,540 Consumer loans (3,232) (20,348) Provisions expense for local risk in operations with foreign debtors (29) (52) Special provisions expense for foreign loans – – Additional provisions expense for loans 23,000 93,902 Commercial loans 22,000 – Residential mortgage loans 1,000 – Consumer loans – 93,902 Provision expense for minimum required provision adjustments related to normal and individual portfolio assessment – – Provisions expense for credit risk due to additional prudential requirements – – Total 21,062 77,042 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 164
NOTE 42 - RESULTS FROM DISCONTINUED OPERATIONS The Bank currently has no results from discontinued operations. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 165
NOTE 43 - TRANSACTION WITH RELATED PARTIES The Bank's "related parties" include, in addition to its subsidiaries and associates, "key personnel" of the Bank's Management (members of the Bank's Board of Directors and Managers of Banco Santander-Chile and its affiliates, along with their close relatives), as well as entities over which key personnel may exercise significant influence or control. Additionally, the Bank has considered the various companies that form part of the Santander Group worldwide as related parties, with the understanding that they all have a common parent company, namely Banco Santander S.A. (based in Spain). Article 89 of the Chilean Corporation Law, which also applies to banks, establishes that any transaction with a related party must be carried out under fair conditions, similar to those normally prevailing in the market. Furthermore, Article 84 of the General Banking Law establishes limits loans that may be granted to related parties and prohibits granting loans to the Bank's directors, general manager, or general representatives. The Bank's transactions with its related parties are listed below. For ease of understanding, we have divided the information into four categories: Santander Group Companies This category includes all companies belonging to the Santander Group worldwide, and therefore also includes those companies over which the Bank exercises some degree of control (subsidiary and special-purpose entities). Associated Companies This category includes those entities where the Bank, as indicated in Note 01 b) of these Consolidated Financial Statements, exercises some degree of significant influence over them. These entities, in general, correspond to the so-called "business support companies." Key Personnel This category includes members of the Bank's Board of Directors and executives of Banco Santander-Chile and its affiliates, along with their close relatives. It takes into account the limitations imposed by Chapter 12-12 of the UCBR. Other This category includes related parties not included in the groups described above and, in general, those entities over which key personnel may exercise significant influence or control. The terms of transactions with related parties are equivalent to those found in arm's-length transactions, or the corresponding in- kind compensation has been allocated. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 166
NOTE 43 - TRANSACTION WITH RELATED PARTIES, continued a. Loans with related parties The movement of loans and receivables, as well as contingent loans with to related entities, as of March 31, 2026, and December 31, 2025 are shown below: As of March 31, As of December 31, 2026 2025 Group companies Associated companies Key personnel Other Group companies Associated companies Key personnel Other Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Loans and receivables Commercial loans 1,027,517 7 1,584 763,584 954,031 7 2,360 752,827 Mortgage loans - - 31,260 - - - 31,860 - Consumer loans - - 3,082 - - - 3,471 - Loans and receivables 1,027,517 7 35,926 763,584 954,031 7 37,691 752,827 Provision for loan losses (739) - (297) (754) (917) - (361) (1,539) Net loans 1,026,778 7 35,629 762,830 953,114 7 37,330 751,288 Guarantee - - - - 1,031 - 31,489 110 Contingent loans Guarantees and sureties - - - - - - - - Letters of credit - - - - - - - - Transactions with contingent events 30,306 - - 30,456 30,295 - - 973 Contingent loans 30,306 - - 30,456 30,295 - - 973 Provisions for contingent loans (25) - - (19) (25) - - (25) Net contingent loans 30,281 - - 30,437 30,270 - - 948 As of March 31, As of December 31, 2026 2025 Group companies Associated companies Key personnel Other Group companies Associated companies Key personnel Other Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Balance as of January 1, 984,326 7 37,691 753,800 952,332 23,570 39,465 1,269 Loans granted 73,540 1 2,638 40,569 75,748 7 10,209 769,292 Loans paid (43) (1) (4,403) (329) (43,754) (23,570) (11,983) (16,761) Total 1,057,823 7 35,926 794,040 984,326 7 37,691 753,800 (*) As of March 31, 2026, and December 31, 2025 loans corresponding to group companies outside the scope of consolidation amounted to Ch$297,637 million and Ch$234,331 million, respectively. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 167
NOTE 43 - TRANSACTION WITH RELATED PARTIES, continued b. The assets and liabilities for related party transactions as of March 31, 2026, and December 31, 2025, are as follows: Assets and liabilities from transactions with related parties Types of assets and liabilities held with related parties As of March 31, 2026 (Ch$mn) Type of related party Group companies Associated companies Key personnel Other ASSETS Cash and deposits in banks 244,214 – – – Repurchase agreements and securities lending 96,316 – – – Financial assets held for trading at fair value through profit or loss Derivative contracts 456,830 13,665 – – Other assets 1,042,767 570,885 – – LIABILITIES Financial liabilities held for trading at fair value through profit or loss Derivative contracts 858,569 12,936 – Financial liabilities at amortized cost Deposits and other demand liabilities 35,063 1,530 4,380 620 Time deposits and other term equivalents 252,445 – 7,580 7,364 Obligations under repurchase and securities lending agreements 253,334 – 90,351 – Interbank borrowing 127,871 – – – Debt and regulatory capital financial instruments issued 904,412 – – – Other liabilities 12,331 696,496 – – Types of assets and liabilities held with related parties As of December 31, 2025 (MM$) Type of related party Group companies Associated companies Key personnel Other ASSETS Cash and deposits in banks 92,598 – – – Repurchase agreements and securities lending 112,976 – – – Financial assets held for trading at fair value through profit or loss Derivative contracts 960,521 20,155 – – Other assets 664,461 812,210 – – LIABILITIES Financial liabilities held for trading at fair value through profit or loss Derivative contracts 1,282,113 16,830 – 15,043 Financial liabilities at amortized cost Deposits and other demand liabilities 28,885 1,403 5,215 67,338 Time deposits and other term equivalents 200,929 – 5,139 12,760 Obligations under repurchase and securities lending agreements 187,074 – 196,411 – Interbank borrowing 119,089 – – – Debt and regulatory capital financial instruments issued 876,075 – – – Other liabilities 108,084 684,448 – – Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 168
NOTE 43 - TRANSACTION WITH RELATED PARTIES, continued c. Income and expenses from related party transactions Type of income and expenses from related party transactions as of March 31, 2026 Group companies Associated companies Key personnel Other (Ch$mn) Interest and adjustment income and expenses (5,898) - 300 (43) Commission and service income and expenses 35,007 (9,906) 44 37 Net financial results (*) (21,569) 185,000 12 4 Other operating income and expenses (11,536) (1,740) - - Remuneration and expenses of key personnel - - (10,551) - Administrative and other expenses (32,304) (1,213) - - (*) This item mainly corresponds to derivative contracts used to hedge the exchange rate risk of the assets and liabilities that cover the positions of the Bank and its affiliates. Type of income and expenses from related party transactions as of March 31, 2025 Group companies Associated companies Key personnel Other (Ch$mn) Interest and adjustment income and expenses (4,921) 240 666 19 Commission and service income and expenses 46,194 (13,802) 55 5 Net financial results (*) (96,747) (47,984) - - Other operating income and expenses 2,867 (707) - - Remuneration and expenses of key personnel - - (11,017) - Administrative and other expenses (24,917) (1,184) - - (*) This item mainly corresponds to derivative contracts used to hedge the exchange rate risk of the assets and liabilities that cover the positions of the Bank and its affiliates. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 169
NOTE 43 - TRANSACTION WITH RELATED PARTIES, continued d. Individual transactions in the period with related parties that are legal entities, which do not correspond to usual operations performed with Bank's customers and individual transactions that involve transfer of resources, services or obligations according to paragraph 9 of IAS24 greater than UF 2,000, are shown below: As of March 31, 2026 Country of residence Nature of the relationship with the Bank Description of the transaction Transactions with mutual independence between the parties Effect on the income statement Effect on the balance sheet Company name Type of service Term Renewal conditions Revenues Ch$mn Expenses Ch$mn Receivables Ch$mn Payables Ch$mn Banco Santander, S.A. Spain Group Consulting Services Monthly As contracted Yes 1 5,050 - 4,978 Santander Back-Offices Globales Mayoristas, S.A. Spain Group Back Office services Monthly As contracted Yes - 750 - - Santander Factoring S.A. Chile Group Leases, Custody and Portal Monthly As contracted Yes 10 90 20 107 Gesban Santander Servicios Profesionales Contables Limitada Chile Group Accounting Services Monthly As contracted Yes 50 0 0 207 Santander Global Delivery, S.L. Spain Group Consulting services Monthly As contracted Yes 0 157 - 0 Santander Investment Chile Limitada Chile Group Leases Monthly As contracted Yes - 1,343 3 29 Santander Global Technology and Operations Chile limitada Chile Group IT Services Monthly As contracted Yes 52 1,692 52 2,115 Universia Chile S.A. Chile Group Institutional Services Monthly As contracted Yes 2 121 - 0 Santander Asset Management S.A. Administradora General de Fondos Chile Group Leases and Other Monthly As contracted Yes 172 21 10,164 43 Centro de Compensación Automatizado S.A. Chile Associated Derivatives clearing Monthly As contracted Yes - 332 - - Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A. Chile Associated Card operator Monthly As contracted Yes - 261 - - Zurich Santander Seguros Generales Chile S.A. Chile Associated Channel Usage Services Monthly As contracted Yes 23 0 1,364 - Open Digital Services, S.L. Spain Group IT services and Ops, Monthly As contracted Yes - 1,458 - - Santander Global Technology and Operations, S.L. Unipersonal Spain Group IT services and Ops, Monthly As contracted Yes - 19,471 - - PagoNxt Payments Services, S.L. Spain Group Digital payments Monthly As contracted Yes - 166 - - Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 170
NOTE 43 - TRANSACTION WITH RELATED PARTIES, continued As of December 31, 2025 Country of residence Nature of the Relationshi p with the Bank Description of the transaction Transactions with mutual independence between the parties Effect on the income statement Effect on the balance sheet Company name Type of service Term Renewal conditions Revenues Ch$mn Expenses Ch$mn Receivables Ch$mn Payables Ch$mn Banco Santander, S.A. Spain Group Consulting Services Monthly As contracted Yes 5 19,095 - 656 Santander Back-Offices Globales Mayoristas, S.A. Spain Group Back Office services Monthly As contracted Yes - 3,496 - - Santander Chile Holding S.A. Chile Group Leases Monthly As contracted Yes 233 - 4 - Santander Factoring S.A. Chile Group Leases, Custody and Portal Monthly As contracted Yes 39 395 20 66 Bansa Santander S.A. Chile Group Leases and Other Monthly As contracted Yes 4 87 - - Gesban Santander Servicios Profesionales Contables Limitada Chile Group Accounting Services Monthly As contracted Yes 60 (118) - 134 Santander Global Services, S.L. Spain Group Consulting services Monthly As contracted Yes - 609 - - Santander Investment Chile Limitada Chile Group Leases Monthly As contracted Yes - 5,141 12 336 Santander Global Technology and Operations Chile limitada Chile Group IT Services Monthly As contracted Yes 178 7,637 2 9,088 Universia Chile S.A. Chile Group Institutional Services Monthly As contracted Yes 8 446 - - Aquanima Chile S.A. Chile Group Procurement Services Monthly As contracted Yes - 1,067 - - Santander Asset Management S.A. Administradora General de Fondos Chile Group Leases and Other Monthly As contracted Yes 693 85 9,976 21 Centro de Compensación Automatizado S.A. Chile Associated Derivatives clearing Monthly As contracted Yes - 3,453 - - Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A. Chile Associated Card operator Monthly As contracted Yes - 600 - - Zurich Santander Seguros Generales Chile S.A. Chile Associated Channel Usage Services Monthly As contracted Yes 122 - 1,452 - Santander Banca de Inversión Colombia, S.A.S. Colombia Group Consulting services Monthly As contracted Yes - 291 - - F1rst Tecnologia e Inovação Ltda. Brazil Group IT Services and Service Desk Monthly As contracted Yes - 8,783 - - Open Digital Services, S.L. Spain Group IT services and Ops, Monthly As contracted Yes - 4,141 - - Santander Global Technology and Operations, S.L. Unipersonal Spain Group IT services and Ops, Monthly As contracted Yes - 53,843 - - PagoNxt Payments Services, S.L. Spain Group Digital payments Monthly As contracted Yes - 751 - - Santander Global Cards & Digital Solutions, S.L. Spain Group Consulting services Monthly As contracted Yes - 2,316 - - Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 171
NOTE 43 - TRANSACTION WITH RELATED PARTIES, continued Payments to the Board of Directors and key personnel of the Bank’s Management and its subsidiaries The remunerations received by key management personnel, including members of the Bank's Board of Directors and Banco Santander-Chile managers, are presented under the item "Remuneration and personnel expenses" and/or "Administrative expenses" in the Interim Consolidated Financial Statements, and correspond to the following categories: As of March 31, 2026 2025 Ch$mn Ch$mn Salaries 5,082 5,575 Remuneration of the Board of Directors 445 451 Bonuses 4,348 4,855 Stock-based compensation 222 (303) Seniority compensation — — Health funds 99 104 Other personnel costs funds 110 130 Pension plans 245 205 Total 10,551 11,017 Composition of the Board of Directors and key management personnel of the Bank and its subsidiaries As of March 31, 2026 2025 Directors 11 11 Managers 122 124 Total 133 135 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 172
NOTE 44 - FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most advantageous) market at the measurement date under current market conditions (i.e., an exit price), regardless of whether that price is directly observable or estimated using another valuation technique. Fair value measurement assumes that the sale of the asset or transfer of the liability occurs in the principal market for the asset or liability or in the most advantageous market for the asset or liability. For financial instruments without available market prices, fair values have been estimated using recent transactions in similar instruments or, if not possible, current values or other valuation techniques based on mathematical valuation models sufficiently tested by the international financial community. When using these models, the specific characteristics of the asset or liability being valued are taken into account, and in particular, the different types of risks associated with the asset or liability. These techniques are inherently subjective and significantly affected by the assumptions used, including the discount rate, estimates of future cash flows, and prepayment assumptions. Therefore, estimated fair value of an asset or liability not exactly matching the price at which the asset or liability could be delivered or settled at the valuation date and may not be justified by comparison with independent markets. Determination of the fair value of financial instruments The following table shows a comparison between the book value of the Bank's financial assets and liabilities and their corresponding fair values as of March 31, 2026, and December 31, 2025: As of March 31, 2026 As of December 31, 2025 Book value Fair value Book value Fair value Ch$mn Ch$mn Ch$mn Ch$mn Assets Financial assets held for trading at fair value through profit or loss 11,465,830 11,465,830 11,594,405 11,594,405 Financial derivatives contracts 10,917,693 10,917,693 10,879,777 10,879,777 Debt financial instruments 548,137 548,137 714,628 714,628 Financial assets at fair value through other comprehensive income 3,873,077 3,873,077 3,889,952 3,889,952 Debt financial instruments 3,502,444 3,502,444 3,598,366 3,598,366 Other financial instruments 370,633 370,633 291,586 291,586 Financial derivative contracts for hedge accounting 293,770 293,770 261,192 261,192 Debt financial instruments at amortized cost 46,149,124 47,362,713 45,544,899 46,090,804 Rights for repurchase agreements and securities loans 1,055,754 1,056,516 427,983 428,483 Debt financial instruments 5,582,923 5,666,365 5,525,242 5,593,724 Interbank loans and receivables from clients 39,510,447 40,639,832 39,591,674 40,068,597 Guarantees provided for derivative financial transactions 2,464,377 2,464,377 2,075,671 2,075,671 Liabilities Financial liabilities held for trading at fair value through profit or loss 10,576,279 10,576,279 10,587,308 10,587,308 Financial derivatives contracts 10,576,279 10,576,279 10,587,308 10,587,308 Financial derivative contracts for hedge accounting 848,009 848,009 912,716 912,716 Financial liabilities at amortized cost 47,643,562 48,292,321 47,260,235 47,809,603 Deposits and other demand liabilities 13,746,375 13,746,375 14,075,590 14,075,590 Time deposits and other term equivalents 17,247,578 17,441,104 16,493,783 16,678,683 Obligations under repurchase agreements and securities lending 2,784,325 2,879,982 2,755,243 2,836,063 Interbank borrowing 3,421,243 3,558,482 3,434,237 3,564,731 Debt and regulatory capital financial instruments issued 10,225,560 10,447,897 10,277,061 10,430,215 Other financial liabilities 218,481 218,481 224,321 224,321 Guarantees received for financial derivative transactions 1,848,806 1,848,806 1,541,061 1,541,061 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 173
NOTE 44 - FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES, continued Fair value approximates carrying amount in the following items, due to their short-term nature, in the case of: cash, bank deposits, and transactions in the process of settlement. Additionally, the fair value estimates presented above do not attempt to quantify the value of the Bank’s earnings generated by its business or future activities, and therefore do not represent the value of the Bank as a going concern. Below is a description of the methods used to estimate the fair value of financial instruments. 1. Debt financial instruments The estimated fair value of these financial instruments was established using market values or estimates from a readily available dealer or quoted market prices for similar financial instruments. The investments are valued at book (as recorded) value because they are not considered to have a fair value significantly different from their recorded value. Additional variables and elements (where applicable) were considered in estimating the fair value of debt investments, including estimates of prepayment rates and the issuers' credit risk. 2. Loans and receivables from clients and Interbank loans The fair value of commercial loans, mortgage loans, credit cards, and consumer loans is measured using discounted cash flow analysis. For this purposes, prevailing market interest rates are used, taking into account the product, term, amount, and similar credit quality. The fair value of loans with a past due period of 90 days or more is measured using the market value of the associated collateral, discounted at the rate and expected maturity. For variable-rate loans with frequently changing interest rates (monthly or quarterly) and not subject to significant credit risk, the estimated fair value is based on their carrying amount. The carrying amounts and fair values are presented net of provisions for credit risk. 3. Deposit and other demand obligations The disclosed fair value of non-interest-bearing deposits and savings accounts is the amount payable at the reporting date and, therefore, equals the recorded amount. The fair value of time deposits is calculated using the discounted cash flow method, which applies current interest rates currently offered to a schedule of monthly maturities expected in the market. 4. Short- and long-term debt instruments issued The fair value of these financial instruments is calculated using discounted cash flow analysis based on current incremental borrowing rates for similar types of loan agreements with similar maturities. 5. Financial derivatives and accounting hedging contracts The estimated fair value of the foreign exchange forward contracts was calculated using quoted market prices for financial instruments with similar characteristics. The fair value of interest rate swaps represents the estimated amount that the Bank determines as the exit price in accordance with IFRS 13. If there are no quoted market prices (direct or indirect) for any derivative instrument, the respective fair value estimates have been calculated using valuation models and techniques such as Black-Scholes, Hull and Monte Carlo simulations and considering relevant inputs such as option volatility, observable correlations between underlying assets, counterparty credit risk, implied price volatility, speed with which volatility reverts to its mean value, linear relationship (correlation) between the value of a variable. Fair value measurement and hierarchy IFRS 13, "Fair Value Measurement," establishes a fair value hierarchy that segregates the inputs and/or assumptions of valuation techniques used to measure the fair value of financial instruments. The hierarchy gives highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and lowest priority to measurements that involve significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 174
NOTE 44 - FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES, continued • Level 1: Inputs are quoted (unadjusted) prices in active markets for identical assets and liabilities for which the Bank has access at the measurement date. • Level 2: Inputs other than quoted prices included in Level 1 that are observable for assets or liabilities, directly or indirectly. • Level 3: Unobservable inputs for the asset or liability. The estimated fair value of the foreign exchange forward contracts was calculated using quoted market prices for financial instruments with similar characteristics. The fair value of interest rate swaps represents the estimated amount the Bank expects to receive or pay to terminate the contracts or agreements, taking into account the term structures of the interest rate curve, volatility of the underlying asset, and the credit risk of the counterparties. In cases where quotations cannot be observed, management makes its best estimate of the market price using its own internal models, which, in most cases, use data based on observable market parameters as significant inputs (Level 2) and, in limited cases, use significant inputs that are not observable in market data (Level 3). Various techniques are used to arrive at this estimate, including extrapolation of observable market data. Financial instruments at fair value and determined by published quotes in active markets (Level 1) include: • Instruments of the Chilean Central Bank and the General Treasury of the Republic. • Foreign instruments issued. • Mutual funds. If the instruments are not 100% market-observable, however, the price is a function of other prices that are market-observable (Level 2). The following financial instruments are classified as Level 2: Type of financial instrument Valuation model used Description Private bonds Present value of cash flows Internal rates of return ("IRRs") are provided by independent pricing source service entity according to the following criterion: On the valuation day, if there are one or more valid transactions in the Santiago Stock Exchange for a given mnemonic code, the reported rate is the weighted average of said rates. If there are no valid transactions for a given mnemonic data on the valuation day, the reported rate is an 'IRR baseline' from a reference structure plus a 'Model Spread' based on information from historical spreads of the same or similar documents. Time deposits Present value of cash flows Internal rates of return ("IRRs") are provided by independent pricing source service entity according to the following criterion: On the valuation day, if there are one or more valid transactions in the Santiago Stock Exchange for a given mnemonic code, the reported rate is the weighted average of said rates. If there are no valid transactions for a given mnemonic code on the valuation day, the reported rate is an 'IRR baseline' from a reference structure plus a 'Model Spread' based on the 'Issuer curves'. Constant Maturity Swap (CMS), Forward FX and Inflation, Cross Currency Swap (CCS), Interest Rate Swap (IRS) Present value of cash flows Rates (IRR) are provided by ICAP, GFI, Tradition and Bloomberg according to the following criteria: The published market prices are used to construct the valuation curve using the bootstrapping method, and then this curve is used to value the various derivatives. FX Options Black-Scholes Formula adjusted by the volatility smile (implied volatility). BGC Partners provide prices (volatilities) according to the following criteria: The volatility surface is built through interpolation using published market prices, and these volatilizes are then used to value the options. Guarantees for threshold transactions, guarantee deposits Present value of cash flows Transactions related to derivatives contracts such as Constant Maturity Swap (CMS), Forward FX and Inflation, Cross Currency Swap (CCS), Interest Rate Swap (IRS) and FX Options. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 175
NOTE 44 - FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES, continued In limited cases, unobservable inputs are used in market data (Level 3). Various techniques are used to perform this estimation, including extrapolation of observable market data or a mix of observable data. The following financial instruments are classified as Level 3: Type of financial instrument Valuation model used Description Caps/Floors/Swaptions Black Normal model for Cap/Floors and Swaptions There is no observable input of implied volatility. Black-Scholes There is no observable input of implied volatility. Hull-White Hybrid HW model for rates and Brownian motion for FX. There is no observable input of implied volatility. Implicit Forward Rate Agreement (FRA) Start Fwd is unsupported by Murex (platform) due to the UF forward estimate. CCS, IRS, CMS in Active Bank Rate (TAB) Present value of cash flows Valuation obtained using yield curve interpolating to maturity of flows. Nevertheless, TAB is not a directly observable variable nor correlated to any market input. Present value of cash flows Valuation using prices of instruments with similar characteristics plus a liquidity charge-off rate. CCS (maturities over 30 years) Present value of cash flows Rates (IRR) are provided by ICAP, GFI, Tradition and Bloomberg according to the following criteria: The published market prices are used to construct the valuation curve using the bootstrapping method and then this curve is used to value the various derivatives. Receivables accounts valued at fair value Present value of cash flows Measured by discounting the estimated cash flow using the interest rate of the new contracts. Mortgage bonds Present value of cash flows The rates (IRR) are provided by RiskAmérica according to the following criteria: If on the valuation date there is one or more valid transactions on the Santiago Stock Exchange for a specific security code, the reported rate is the weighted average (by amount) of the observed rates. If there are no valid transactions for a given security code on the valuation date, the reported rate is a "base IRR" derived from a reference curve, plus a "Model Spread" based on historical spread data for the same instrument or similar ones. The Bank estimates that any changes in unobservable criteria for instruments classified at Level 3 would not result in significant differences in the fair value measurement. The following table presents the assets and liabilities that are measured at fair value on a recurring basis: Fair value measurements As of March 31, 2026 Level 1 Level 2 Level 3 Ch$mn Ch$mn Ch$mn Ch$mn Assets Financial assets held for trading at fair value through profit or loss 11,465,830 548,137 10,913,692 4,001 Financial derivatives contracts 10,917,693 – 10,913,692 4,001 Debt financial instruments 548,137 548,137 – – Financial assets at fair value through other comprehensive income 3,873,077 3,499,313 – 373,764 Debt financial instruments 3,502,444 3,499,313 – 3,131 Other financial instruments 370,633 – – 370,633 Financial derivative contracts for hedge accounting 293,770 – 293,770 – Guarantee money deposits 2,464,377 – 2,464,377 – Total 18,097,054 4,047,450 13,671,839 377,765 Liabilities Financial liabilities held for trading at fair value through profit or loss 10,576,279 – 10,576,272 7 Financial derivatives contracts 10,576,279 – 10,576,272 7 Financial derivative contracts for hedge accounting 848,009 – 848,009 – Guarantees for threshold operations 1,848,806 – 1,848,806 – Total 13,273,094 – 13,273,087 7 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 176
NOTE 44 - FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES, continued Fair value measurements As of December 31, 2025 Level 1 Level 2 Level 3 Ch$mn Ch$mn Ch$mn Ch$mn Assets Financial assets held for trading at fair value through profit or loss 11,594,405 714,628 10,874,986 4,791 Financial derivatives contracts 10,879,777 – 10,874,986 4,791 Debt financial instruments 714,628 714,628 – – Financial assets at fair value through other comprehensive income 3,889,952 3,594,882 – 295,070 Debt financial instruments 3,598,366 3,594,882 – 3,484 Other financial instruments 291,586 – – 291,586 Financial derivative contracts for hedge accounting 261,192 – 261,192 – Guarantee money deposits 2,075,671 – 2,075,671 – Total 17,821,220 4,309,510 13,211,849 299,861 Liabilities Financial liabilities held for trading at fair value through profit or loss 10,587,308 – 10,587,308 – Financial derivatives contracts 10,587,308 – 10,587,308 – Financial derivative contracts for hedge accounting 912,716 – 912,716 – Guarantees for threshold operations 1,541,061 – 1,541,061 – Total 13,041,085 – 13,041,085 – The following tables present the assets and liabilities that are not measured at fair value on a recurring basis: Fair value measurements As of March 31, 2026 Level 1 Level 2 Level 3 Ch$mn Ch$mn Ch$mn Ch$mn Assets Debt financial instruments at amortized cost Rights for repurchase agreements and securities loans 1,056,516 - - 1,056,516 Debt financial instruments 5,666,365 5,666,365 - - Interbank loans and receivables from clients 40,639,832 - - 40,639,832 Total 47,362,713 5,666,365 - 41,696,348 Liabilities Financial liabilities at amortized cost Deposits and other demand liabilities 13,746,375 - - 13,746,375 Time deposits and other term equivalents 17,441,104 - 17,441,104 - Obligations under repurchase agreements and securities lending 2,879,982 - 2,879,982 - Interbank borrowing 3,558,482 - 3,558,482 - Debt and regulatory capital financial instruments issued 10,447,897 - 10,447,897 - Other financial liabilities 218,481 - - 218,481 Total 48,292,321 - 34,327,465 13,964,856 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 177
NOTE 44 - FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES, continued Fair value measurements As of December 31, 2025 Level 1 Level 2 Level 3 Ch$mn Ch$mn Ch$mn Ch$mn Assets Debt financial instruments at amortized cost Rights for repurchase agreements and securities loans 428,483 0 - 428,483 Debt financial instruments 5,593,724 5,593,724 - - Interbank loans and receivables from clients 40,068,597 - - 40,068,597 Total 46,090,804 5,593,724 - 40,497,080 Liabilities Financial liabilities at amortized cost Deposits and other demand liabilities 14,075,590 - - 14,075,590 Time deposits and other term equivalents 16,678,683 - 16,678,683 - Obligations under repurchase agreements and securities lending 2,836,063 - 2,836,063 - Interbank borrowing 3,564,731 - 3,564,731 - Debt and regulatory capital financial instruments issued 10,430,215 - 10,430,215 - Other financial liabilities 224,321 - - 224,321 Total 47,809,603 - 33,509,692 14,299,911 The fair value of other assets and liabilities approximates their carrying amounts. The methods and assumptions for estimating fair value are defined below: • Loans and amounts owed by credit institutions and customers: Fair value is estimated for groups of loans with similar characteristics. Fair value was measured by discounting the estimated cash flow using the new contract interest rate. First, the future cash flow of the current loan portfolio is estimated using contractual rates, and then the new loans distributed at the risk- free interest rate are incorporated into the (risk-free) yield curve to calculate the loan portfolio at fair value. Regarding behavioral assumptions, it is important to emphasize that a prepayment rate is applied to the loan portfolio, thus providing a more realistic future cash flow: • Deposits and liabilities with banks: The fair value of deposits was calculated by discounting the difference between cash flows on a contractual basis and current market rates for instruments with similar maturities. For variable-rate deposits, the carrying amount was considered to approximate fair value. • Debt instruments issued and other financial obligations: The fair value of long-term loans was estimated using discounted cash flows at the market interest rate with similar terms and maturities. The valuation techniques used to estimate each level are defined in Note 2. There were no transfers between Levels 1 and 2 as of March 31, 2026, and December 31, 2025. The following table presents the Bank's activity for assets and liabilities measured at fair value on a recurring basis using significant unobserved inputs (Level 3) as of March 31, 2026, and December 31, 2025: Assets Liabilities Ch$mn Ch$mn Balance as of January 1, 2026 299,861 - Total realized and unrealized profit (loss) Included in profits - - Included in comprehensive income (19,977) - Acquisitions, sales, issuances and liquidations (net) 90,757 - Level transfers 7,124 7 As of March 31, 2026 377,765 7 Total profit or loss included in profit or loss as of March 31, 2026 attributable to the change in unrealized profit (loss) relating to assets or liabilities as of December 31, 2025 77,904 7 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 178
NOTE 44 - FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES, continued Assets Liabilities Ch$mn Ch$mn Balance as of January 1, 2025 85,517 3 Total realized and unrealized profit (loss) Included in profit - - Included in comprehensive income (34,911) - Acquisitions, sales, issuances and liquidations (net) 240,980 - Level transfers 8,275 (3) As of December 31, 2025 299,861 - Total profit or loss included in profit or loss as of December 31, 2025 attributable to the change in unrealized profit (loss) relating to assets or liabilities as of December 31, 2024 214,344 (3) The internal Local Risk Factor Committee, which meets quarterly, reviews the cases in which transfers between different levels are required. During 2026, the Bank did not reclassify instruments between levels. Realized and unrealized gains (losses) included in income as of March 31, 2026, and December 31, 2025 arising from assets and liabilities measured at fair value on a recurring basis through significant unobservable inputs (Level 3), are recorded in the Interim Consolidated Statements of Income under the caption “Net income from financial operations.” The potential effect as of March 31, 2026, and December 31, 2025, on the valuation of assets and liabilities measured at fair value on a recurring basis through significant unobservable inputs (Level 3) that would result from a change in the main assumptions in the case of using other reasonably possible assumptions less or more favorable than those used, is not considered significant for the Bank. The following tables show the financial instruments subject to offsetting according to IAS 32, for 2026 and 2025: Linked financial instruments offset on the balance sheet Remaining balance of financial instruments not linked and/or not subject to offsetting Amount in the statement of financial position As of March 31, 2026 Amounts offset on the balance sheet Net amount in the balance sheet Ch$mn Ch$mn Ch$mn Ch$mn Assets Financial derivatives contracts and hedge accounting (*) - 10,924,032 287,431 11,211,463 Repurchase and securities lending contracts - 1,055,754 - 1,055,754 Loans and receivables form clients plus interbank loans - - 39,510,447 39,510,447 Total - 11,979,786 39,797,878 51,777,664 Liabilities Financial derivatives contracts and hedge accounting (*) - 11,037,471 386,817 11,424,288 Repurchase and securities lending contracts - 2,784,325 - 2,784,325 Deposits and obligations with banks - - 34,415,196 34,415,196 Total - 13,821,796 34,802,013 48,623,809 (*) In these items there are guarantees for Ch$ 2,367,605 million and Ch$ 1,837,809 million for asset and liability derivatives, respectively. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 179
NOTE 44 - FAIR VALUE OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES, continued Linked financial instruments offset on the balance sheet Remaining balance of financial instruments not linked and/or not subject to offsetting Amount in the statement of financial position As of December 31, 2025 Amounts offset on the balance sheet Net amount in the balance sheet Ch$mn Ch$mn Ch$mn Ch$mn Assets Financial derivatives contracts and hedge accounting (*) - 10,907,313 233,656 11,140,969 Repurchase agreements and securities lending - 427,983 - 427,983 Loans and receivables form clients plus interbank loans - - 39,591,674 39,591,674 Total - 11,335,296 39,825,330 51,160,626 Liabilities Financial derivatives contracts and hedge accounting (*) - 11,257,707 242,317 11,500,024 Repurchase and securities lending contracts - 2,755,243 - 2,755,243 Deposits and obligations with banks - - 34,003,610 34,003,610 Total - 14,012,950 34,245,927 48,258,877 (*) In these items there are guarantees for Ch$1,985,631 million, and Ch$1,433,944 million for asset and liability derivatives, respectively. In order to reduce credit exposure in its financial derivatives transactions, the Bank has entered into bilateral collateral agreements with its counterparties, which establish the terms and conditions under which these transactions operate. In generally, collateral (received/delivered) is issued when the net fair value of the financial instruments held exceeds the thresholds defined in the respective contracts. The financial derivative contracts are detailed according to their collateral agreement: As of March 31, 2026 As of December 31, 2025 Financial derivatives contracts and hedge accounting Assets Liabilities Assets Liabilities Ch$mn Ch$mn Ch$mn Ch$mn Derivatives contracts with collateral agreement 10,955,902 11,127,444 10,873,387 11,223,116 Derivatives contracts without collateral agreement 255,561 296,844 267,582 276,908 Total financial derivatives 11,211,463 11,424,288 11,140,969 11,500,024 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 180
NOTE 45 - MATURITY OF FINANCIAL ASSETS AND LIABILITIES ACCORDING TO REMAINING MATURITIES As of March 31, 2026, and December 31, 2025, the details of the maturity of financial assets and liabilities according to their remaining terms are as follows: As of March 31, 2026 On demand Up to 1 month Between 1 to 3 months Between 3 to 12 months Between 1 to 3 years Between 3 to 5 years More than 5 years Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Financial assets Cash and bank deposits 1,876,944 - - - - - - 1,876,944 Cash in collection process 1,928,332 - - - - - - 1,928,332 Financial assets held for trading at fair value through profit or loss Financial derivative contracts and hedge accounting - 522,020 742,020 2,124,218 2,340,052 2,270,721 3,212,432 11,211,463 Debt financial instruments - - - - 436,851 73,030 38,256 548,137 Financial assets at fair value through other comprehensive income Debt instruments - 13,817 2 395,146 1,815,109 965,494 312,876 3,502,444 Loans and account receivable from customers 1,598 21,902 8,898 35,594 52,352 23,788 231,311 375,443 Financial assets at amortized cost Rights under repurchase agreements - 1,055,933 - - - - - 1,055,933 Debt financial instruments (1) - - - - 2,783,416 2,612,668 187,998 5,584,082 Interbank loans (2) 52,420 74 - - - - - 52,494 Loans and account receivable from customers (3) 1,543,303 2,992,054 2,951,653 5,423,740 8,765,030 4,642,585 14,527,268 40,845,633 Guarantee deposits (margin accounts) 2,464,377 - - - - - - 2,464,377 Total financial assets 7,866,974 4,605,800 3,702,573 7,978,698 16,192,810 10,588,286 18,510,141 69,445,282 As of March 31, 2026 On demand Up to 1 month Between 1 to 3 months Between 3 to 12 months Between 1 to 3 years Between 3 to 5 years More than 5 years Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Financial liabilities Cash items in process of being cleared 1,812,210 – – – – – – 1,812,210 Financial liabilities held for trading at fair value through profit or loss Financial derivative contracts and hedge accounting – 608,987 808,851 2,167,050 2,531,584 1,952,344 3,355,472 11,424,288 Financial liabilities at amortized cost Deposits and other demand liabilities 13,746,375 – – – – – – 13,746,375 Time deposits and other term equivalents 281,431 8,720,095 3,917,535 3,858,286 436,918 210 33,103 17,247,578 Obligations under repurchase agreements – 2,439,529 155,833 188,963 – – – 2,784,325 Interbank borrowing 69,027 229,827 1,005,813 1,250,043 592,342 233,297 40,894 3,421,243 Issued debt instruments – 194,538 607,707 1,361,150 1,478,201 1,870,685 2,112,638 7,624,919 Other financial obligations – 218,481 – – – – – 218,481 Obligations for leasing contracts – – – 10,776 20,445 10,652 8,094 49,967 Issued regulatory capital instrument – – – 200,120 124,698 185,181 2,090,642 2,600,641 Guarantees received (margin accounts) 1,848,806 – – – – – – 1,848,806 Total financial liabilities 17,757,849 12,411,457 6,495,739 9,036,388 5,184,188 4,252,369 7,640,843 62,778,833 (1) Debt financial instruments are presented on a gross basis; the amount of the provision is Ch$1,159 million. (2) Amounts due from banks are presented on a gross basis; the amount of the provision is Ch$54 million. (3) Loans and receivables are presented on a gross basis; the amount of provisions is Ch$1,387,626 million. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 181
NOTE 45 - MATURITY OF FINANCIAL ASSETS AND LIABILITIES ACCORDING TO REMAINING MATURITIES, continued As of December 31, 2025 On demand Up to 1 month Between 1 to 3 months Between 3 to 12 months Between 1 to 3 years Between 3 to 5 years More than 5 years Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Financial assets Cash and deposits in banks 1,975,644 – – – – – – 1,975,644 Cash items in process of collection 1,185,633 – – – – – – 1,185,633 Financial assets at fair value through profit or loss Financial derivative contracts and hedge accounting – 725,018 1,132,620 1,892,284 2,207,019 2,031,532 3,152,496 11,140,969 Debt financial instruments – – 41,834 – 254,684 227,280 190,830 714,628 Financial assets at fair value through other comprehensive income Debt instruments – 180,132 39,849 390,071 1,762,028 961,933 264,353 3,598,366 Loans and account receivable from customers 1,784 8,062 16,124 36,604 55,639 16,972 161,064 296,249 Financial assets at amortized cost Rights under repurchase agreements – 428,146 – – – – – 428,146 Debt financial instruments (1) – – – – 2,594,154 2,603,922 328,311 5,526,387 Interbank loans (2) 68,106 36 36 – – – – 68,178 Loans and account receivable from customers (3) 1,447,642 2,918,149 2,969,942 5,546,646 8,715,192 4,661,794 14,605,337 40,864,702 Guarantee deposits (margin accounts) 2,075,671 – – – – – – 2,075,671 Total financial assets 6,754,480 4,259,543 4,200,405 7,865,605 15,588,716 10,503,433 18,702,391 67,874,573 As of December 31, 2025 On demand Up to 1 month Between 1 to 3 months Between 3 to 12 months Between 1 to 3 years Between 3 to 5 years More than 5 years Total Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Financial liabilities Cash items in process of being cleared 1,068,216 – – – – – – 1,068,216 Financial liabilities at fair value through profit or loss Financial derivative contracts and hedge contracts – 789,194 1,274,609 2,113,806 2,414,508 1,745,432 3,162,475 11,500,024 Financial liabilities at amortized cost Deposits and other demand liabilities 14,075,590 – – – – – – 14,075,590 Time deposits and other term equivalents – 7,731,868 3,692,751 4,601,006 435,105 322 32,731 16,493,783 Obligations under repurchase agreements – 2,180,874 574,369 – – – – 2,755,243 Interbank borrowing 28,266 289,677 275,757 1,949,788 659,092 223,890 7,767 3,434,237 Issued debt instruments – 45,980 676,736 1,642,349 1,995,136 1,205,230 2,133,669 7,699,100 Other financial obligations – 224,321 – – – – – 224,321 Obligations for leasing contracts – – – 6,629 14,751 11,276 7,993 40,649 Issued regulatory capital instrument – – – 202,169 124,099 181,378 2,070,315 2,577,961 Guarantees received (margin accounts) 1,541,061 – – – – – – 1,541,061 Total financial liabilities 16,713,133 11,261,914 6,494,222 10,515,747 5,642,691 3,367,528 7,414,950 61,410,185 (1) Debt financial instruments are presented on a gross basis; the amount of the provision is Ch$1,145 million. (2) Amounts due from banks are presented on a gross basis; the amount of the provision is Ch$107 million. (3) Loans and receivables are presented on a gross basis; the amount of provisions is Ch$1,341,099 million. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 182
NOTE 46 - FINANCIAL AND NON-FINANCIAL ASSETS AND LIABILITIES BY CURRENCY The following are the amounts of financial and non-financial assets and liabilities for the most relevant currencies at the end of the year ended March 31, 2026, and December 31, 2025: As of March 31, 2026 Local Currency Foreign Currency CLP CLF Adjustable by exchange rate USD EUR GBP CHF JPY CNY COP Other Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Financial assets 31,087,192 27,175,253 775 7,060,340 221,229 3,140 2,821 25,684 6,546 - 4,097 Non-financial assets 1,990,840 104,325 1,856 2,211,185 - 845 770 - - - 5 TOTAL ASSETS 33,078,032 27,279,578 2,631 9,271,525 221,229 3,985 3,591 25,684 6,546 - 4,102 Financial liabilities 40,333,560 6,482,003 60 12,343,795 504,896 4,156 928,944 181,914 4,434 - 96,298 Non-financial liabilities 2,266,677 78,932 - 1,769,708 4,400 25 1,478 688 1 - 1,114 TOTAL LIABILITIES 42,600,237 6,560,935 60 14,113,503 509,296 4,181 930,422 182,602 4,435 - 97,412 As of December 31, 2025 Local Currency Foreign Currency CLP CLF Adjustable by exchange rate USD EUR GBP CHF JPY CNY COP Other Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Financial assets 31,237,791 27,015,499 525 5,962,066 159,095 3,702 5,600 60,055 63 - 7,329 Non-financial assets 1,620,656 100,009 2,275 1,911,219 - 272 750 - 8,050 - - TOTAL ASSETS 32,858,447 27,115,508 2,800 7,873,285 159,095 3,974 6,350 60,055 8,113 - 7,329 Financial liabilities 38,875,301 7,817,580 3,182 11,420,130 463,623 3,038 918,217 220,973 12,796 - 93,635 Non-financial liabilities 1,732,597 65,303 - 1,622,954 2,456 21 1,708 688 - - 1,114 TOTAL LIABILITIES 40,607,898 7,882,883 3,182 13,043,084 466,079 3,059 919,925 221,661 12,796 - 94,749 The fair value of derivative instruments is shown in Chilean pesos and does not include their notional value. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 183
NOTE 47 - RISK MANAGEMENT AND REPORTING General information For Banco Santander, risk management is the core of its business. The Bank's corporate governance continually optimizes its risk management and control system, based on the Basel Committee's principles, an integrated risk culture, a robust governance structure, and advanced tools, with the goal of ensuring responsible conduct in response to economic changes, customer demands, and legal regulations. The Board of Directors assumes ultimate responsibility in this area, including the approval of risk appetite, the regulatory framework, and the promotion of a consistent organizational culture. The Bank's risk management and control are based on the following principles, that consider both regulatory requirements and market best practices and must be applied at all times: 1. All employees are responsible for risk management and must know and understand the risks generated by their daily activities, avoiding taking risks whose impact is unknown or exceeding the limits of the Bank's risk appetite. 2. Senior management is involved, ensuring consistent risk management and control through its conduct, actions, and communications. Additionally, it will promote the risk culture, assessing its degree of implementation and ensuring that the profile remains within the levels defined in the Bank's risk appetite. 3. Independence of risk management and control functions. 4. An anticipatory and comprehensive approach to risk management and control across all businesses and types of risks. 5. Correct and complete information management that allows risks to be identified, evaluated, managed and communicated appropriately to the corresponding levels These principles, along with a series of interrelated tools and processes in its strategy, such as risk appetite, risk profile assessment, scenario analysis, and risk reporting framework, as well as annual budgeting processes, constitute a holistic control structure for the entire Bank. The Bank's risk classification enables effective risk management, control, and communication. Its corporate risk framework includes the following: • Credit risk: It is the risk of financial loss resulting from the default or deterioration of the credit quality of a client or counterparty for whom Banco Santander Chile has financed or with whom it has assumed a contractual obligation. • Market risks: These arise from holding financial instruments whose value may be affected by changes in market conditions; they generally include the following types of risk: - Foreign exchange risk: which arises as a result of fluctuations in the exchange rate between currencies. - Fair value risk due to interest rate fluctuations: which arises as a result of fluctuations in market interest rates. - Price risk: which arises as a result of changes in market prices, either due to factors specific to the instrument itself or due to factors that affect all instruments traded in the market. - Inflation risk: which arises as a result of changes in inflation rates in Chile, the effect of which would apply primarily to financial instruments denominated in UF. • Liquidity risk: It is the risk of not having the necessary liquid financial resources to meet obligations when they mature, or of obtaining them only at a high cost. • Operational risk: It is the risk of loss due to inadequate or failed internal processes, employees, and systems, or due to external events. This includes legal risk and conduct risk. • Capital risk: It is the risk that the Bank has insufficient capital in quantity and/or quality to meet the minimum requirements for operating as a bank, meeting market expectations regarding its creditworthiness, and supporting the growth of its business and any strategies that may arise in accordance with its strategic plan. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 184
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued Risk governance The Bank has a robust risk governance structure that pursues effective risk profile control, in accordance with the appetite defined by the Board of Directors and based on the distribution of roles among the three lines of defense and a solid committee structure. The Bank's three lines of defense model seeks to ensure effective risk management and control: First line: business lines and all other risk-generating functions constitute the first line of defense. These functions must ensure that the risks generated are aligned with the approved risk appetite and corresponding limits. Any unit that generates risk has primary responsibility for managing that risk. Second Line: the risks, compliance, and conduct functions. Their role is to independently oversee and challenge the risk management activities performed by the first line of defense. These functions ensure risk management in accordance with the appetite defined by the Board and promote a strong risk culture throughout the organization. Third Line: the Internal Audit function periodically assesses the appropriateness and effectiveness of policies, methodologies, and procedures for managing and controlling all risks. The risk, compliance, and internal audit functions enjoy an appropriate level of separation and independence and have direct access to the Board of Directors and its committees. The governance applied in the Bank must promote efficient governance structures that ensure the participation of all relevant functions. Governance must also be compatible with local-level functions and with coordinated management and supervision. The main objectives of risk governance are: • Enable effective and efficient risk decision-making. • Oversee risk control. • Ensure that risks are managed in accordance with the risk appetite defined by the Board. The governance structure must separate risk management and control, to achieve these objectives: • Governance reinforces the responsibility of the first line of defense in decision-making and ensures that all risk decisions have a formal approval process. • For the second line of defense, governance provides an overview of all risks, regardless of who manages or controls them. Risk government structure The risk governance structure meets legal and regulatory requirements, which is characterized by an efficient governance structure that ensures the participation of all relevant areas, promoting clear and effective decision-making and accountability. The responsibilities and membership of the most relevant committees within risk governance are: 1. Board of Directors: ultimately responsible for risk management and control. Its key responsibilities include approving the risk appetite and risk framework, and promoting a strong risk culture. To support the Board's management, there are five committees, which are established and amended according to the bank's needs. These committees report their activities to the Board periodically through meetings and subrogation schemes, statutes, formal minutes, and monitoring processes: the Directors and Audit Committee, the ALCO and Markets Committee, the Integral Risk Committee, the Appointments Committee, and the Compensation Committee. 2. Integral Risk Committee (IRC): is responsible for advising the Board of Directors on defining the risk appetite that business areas can assume, as well as overseeing the correct identification, measurement, and control of all risks that may affect the Bank. 3. Executive Risk Committee: responsible for risk management, in accordance with the powers delegated to it. This committee evaluates credit operations over a certain amount (operations of smaller amounts are evaluated by lower-level committees). 4. Risk Control Committee: responsible for risk control, determining whether businesses are managed in accordance with the risk appetite and providing a holistic view of all risks. This includes identifying and monitoring both current and emerging risks and their impact on the risk profile. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 185
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued 5. Global Compliance Committee: responsible for overseeing the management of the risks to which the Bank is exposed, including regulatory compliance risk, conduct risk, money laundering and terrorist financing risk, and reputational risk. 6. Analysis and Resolution Committee (CAR): responsible for defining and monitoring compliance with the policies, standards, and general and specific objectives regarding the prevention of money laundering and terrorist financing, in accordance with local laws and regulations, as well as those of the Santander Group Risk assessment and identification The Bank evaluates at least once a year all the types of risk to which it is exposed, allowing it to define the level to which it is exposed in each of them through a systematic and objective process. Also, through a formal process, it reviews the evolution of each risk by analyzing qualitative and quantitative variables. The results are presented and discussed monthly at the highest management and supervisory levels. In parallel, emerging risks are surveyed every six months, a process in which a large part of the organization participates. This process identifies the main potential risks that could jeopardize strategic planning from a holistic perspective, allowing for a prioritization of these risks based on an assessment of their impact on results/capital and the probability of occurrence. It is important to highlight that this process allows new concerns to be identified and made visible in order to contain them. Key Risk Management and Control Processes It is important to note that each of these key processes has demanding standards, which reflect international best practices. • Planning. Planning is the process by which business objectives are established. It must include the formulation of the types and levels of risk that the business is able and willing to assume to achieve those objectives. • Identification. Risk identification is an essential component for effective risk management and control. All employees are responsible for identifying the risks within their scope of work. • Assessment. Once identified, risks must be assessed. • Decision-making and execution. Decisions are necessary to manage the business risk profile within the limits approved in the planning phase and to achieve business objectives. Strategic decisions are also necessary to manage material and emerging risks. • Monitoring plan performance. Regular monitoring of business performance and comparing it with approved plans is an essential daily activity. • Measures to correct deviations from the plan and information processes If the monitoring activity reveals deviations, or probable deviations, from performance beyond the approved ranges or alert levels, mitigation measures should be considered to return performance to acceptable levels. CREDIT RISK Credit risk is the risk of financial loss resulting from the default or deterioration of the credit quality of a client or counterparty for whom the Bank has financed or with whom it has assumed a contractual obligation. It is our most significant risk, both in terms of exposure and capital consumption. Credit risk management The Bank's credit risk identification, analysis, decision-making, and control processes are based on a complete view of the credit risk cycle, including the transaction, the client, and the portfolio. Credit risk identification enables active management and effective portfolio control. We identify and classify external and internal risks in each business and adopt corrective and mitigating measures when necessary, through the following processes: 1. Planning: Planning allows us to establish business objectives and define specific action plans in line with our risk appetite statement. Commercial strategic plans are a management and control tool defined by the business and risk areas for our credit portfolios. They determine commercial strategies, risk policies, resources, and infrastructure, ensuring a holistic view of the portfolios. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 186
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued 2. Risk Assessment and Credit Rating Process: Credit approval criteria are generally based on a borrower's ability to meet his or her financial obligations. To determine this ability, we analyze the borrower's net cash flow or business income. Our credit quality assessment models are based on rating engines, which vary for each of our segments, which we monitor and compare to adjust the decisions and ratings we assign. 3. Scenario analysis: This allows for determining potential risks in credit portfolios, providing a better understanding of their behavior under different macroeconomic conditions, as well as anticipating and implementing management strategies to avoid future deviations from established plans and objectives. 4. Monitoring: Holistic monitoring of all clients facilitates monitoring of credit quality and early detection of impacts on risk evolution. Regular monitoring of business performance and its comparison with pre-established plans are essential in credit risk management. Our monitoring function uses a system that helps establish monitoring levels, policies, and specific actions for each client. 5. Credit risk mitigation techniques: Credit approval criteria are based on determining the borrowers' ability to pay to meet their financial obligations, without relying on guarantors or pledged assets as collateral. These are always considered a second source of recovery in the event of the failure of the first, and are defined as a reinforcing measure added to a credit transaction in order to mitigate the loss in the event of default. 6. Recovery management: Recovery management defines a strategy based on the economic environment, business model, and other specificities of local recovery. Effective and efficient recovery management requires segmenting our clients based on their characteristics and using new digital channels that support sustainable value creation. The Board of Directors has delegated responsibility for credit risk management to the IRC and the Bank's risk departments, whose roles are summarized below: • Formulation of credit policies, in consultation with the business units, covering collateral requirements, credit evaluation, risk rating, and reporting, documentation, and legal procedures in compliance with the Bank's regulatory, legal, and internal requirements. • Establishing the authorization structure for the approval and renewal of credit applications. The Bank structures credit risk levels by placing limits on the concentration of that risk in terms of individual debtors, debtor groups, industry segments, and countries. • Authorizations are assigned to the respective business unit officers (commercial, consumer, SME) for ongoing monitoring by Management. These limits are also reviewed periodically. Branch-level risk assessment teams regularly interact with clients; however, for large transactions, the parent company's risk teams, including the CIR, work directly with clients to assess credit risks and prepare credit applications. • Limit exposure concentrations to clients and counterparties, by geographic area, industry (for receivables or loans), and by issuer, credit rating, and liquidity (for investments). • Develop and maintain the Bank's risk classification, classifying risks according to the degree of exposure to financial loss faced by the respective financial instruments and focusing risk management specifically on the associated risks. • Review and assess credit risk. The risk divisions are largely independent of the Bank's commercial division and assess all credit risks in excess of designated limits prior to approving loans to clients or prior to the acquisition of specific investments. Credit renewals and reviews are subject to similar processes. Risk assessment teams interact regularly with our clients. For larger transactions, risk teams work directly with clients to assess credit risks and prepare credit applications. Credit approval committees, which include risk and commercial staff, must ensure that each applicant meets the appropriate qualitative and quantitative parameters. The powers of each committee are defined by the Bank's Board of Directors. When preparing a credit application for a corporate client whose loans are approved on an individual basis, the Bank verifies several parameters such as debt service capacity (usually including projected cash flows), the client's financial history, and/or projections for the economic sector in which it operates. The risk division is closely involved in this process and prepares the client's credit application. All applications contain an analysis of the client's strengths and weaknesses, a rating, and a recommendation. Credit limits are not determined based on the client's outstanding balances, but rather on the direct and indirect credit risk of the financial group. For example, a corporation would be assessed along with its subsidiaries and affiliates. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 187
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued Consumer loans are evaluated and approved by their respective risk divisions (individuals, SMEs). The evaluation process is based on an evaluation system known as Garra (Banco Santander-Chile), an in-house automated process based on a scoring system that includes the credit risk policies implemented by the Bank's Board of Directors. The loan application process is based on the collection of information to determine the client's financial situation and repayment capacity. The parameters used to evaluate the applicant's credit risk include several variables such as income level, length of current employment, debt indebtedness, and credit agency reports. In the case of investments in debt instruments, the Bank assesses the probability of default of the issuers or counterparties using internal and external assessments, such as those by risk assessors independent of the Bank. Furthermore, the Bank adheres to a strict and conservative policy that ensures that the issuers of its investments and counterparties in derivative transactions are of the highest reputation. Additionally, the Bank operates with several instruments that involve exposure to credit risk, which are not reflected in the Interim Consolidated Statements of Financial Position, such as, for example: guarantees and warranties, documentary letters of credit, guarantee notes and commitments to grant credits.. Guarantees and warranties represent an irrevocable payment obligation. If a guaranteed client fails to meet their obligations to third parties guaranteed by the Bank, the Bank will make the corresponding payments. Therefore, these transactions represent the same credit risk exposure as a regular loan. Documentary letters of credit are commitments documented by the Bank on behalf of the client. These commitments are secured by the traded goods they relate to and have a lower risk than direct borrowing. Guarantee bonds are contingent commitments that become effective only if the client fails to perform the work agreed upon with a third party, guaranteed by them. When it comes to credit commitments, the Bank is potentially exposed to losses equal to the total undrawn commitment. However, the probable loss is less than the total undrawn commitment. The Bank monitors the maturity period of credit lines because long- term commitments generally carry a higher credit risk than short-term commitments. Additional provisions Under FMC regulations, banks are allowed to establish provisions above the limits described above, in order to protect themselves from the risk of unpredictable economic fluctuations that could affect the macroeconomic environment or the situation of a specific economic sector. These provisions, in accordance with Chapter B-1, Section 9 of the FMC's CASB, will be reported as liabilities. The Bank's Board of Directors approved the constitution of additional voluntary provisions, which amount to Ch$156,098 million and Ch$179,098 million as of March 31, 2026, and December 31, 2025, respectively. Maximum exposure to credit risk For financial assets recognized in the Interim Consolidated Statements of Financial Position, the credit risk exposure is equal to their carrying amount. For financial guarantees granted, the maximum credit risk exposure is the maximum amount the Bank would have to pay if the guarantee were enforced. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 188
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued The following is the distribution by financial asset of the Bank's maximum exposure to credit risk as of March 31, 2026, and December 31, 2025 without deducting collateral or credit enhancements received: As of March 31, 2026 As of December 31, 2025 Amount of exposure Amount of exposure Note Ch$mn Ch$mn Deposits in banks 7 1,876,944 1,975,644 Cash in collection process 7 1,928,332 1,185,633 Financial assets held for trading at fair value through profit or loss 8 Financial derivatives contracts 10,917,693 10,879,777 Debt instruments 548,137 714,628 Financial assets at fair value through other comprehensive income 11 Debt instruments 3,502,444 3,598,366 Loans and receivables from clients 370,633 291,586 Financial derivative contracts for hedge accounting 12 293,770 261,192 Financial assets at amortized cost 13 Rights under repurchase agreements 1,055,754 427,983 Debt instruments 5,582,923 5,525,242 Interbank loans 52,440 68,071 Loans and receivables from clients 39,458,007 39,523,603 Unrecognized loan/credit commitments: Letters of credit for goods movement transactions 325,438 249,140 Transactions related to contingent events 1,944,533 1,871,802 Immediately repayable unrestricted credit lines 10,755,901 10,584,496 Guarantees and sureties 504,010 556,196 Contingent loans linked to CAE 228 235 Other credit commitments 197,861 246,564 Total 79,315,048 77,960,158 According to the CASB, provisions for interbank loan,s and Loans and receivables from customers, and contingent operations are determined according to the criteria defined in chapters B-1 to B-3 of the CASB. Meanwhile, Loans and receivables from customers and debt instruments measured at fair value through other comprehensive income, and debt instruments measured at amortized cost, their impairment is measured in accordance with Chapter 5.5 of IFRS 9. Impairment requirements do not apply to debt instruments measured at fair value through profit or loss. In the case of derivatives, the adjustment that reflects the counterparty credit risk (CVA) is included in their fair value. CVA is calculated considering the potential exposure to each counterparty in future periods. The methodology established for determining provisions for loans (Interbank and Loans and receivables from customers) and contingent loans is set out in Note 2 of accounting principles, letter q). The methodology used to calculate provisions for Loans and accounts receivable from customers and debt instruments measured at fair value through other comprehensive income, and debt instruments measured at amortized cost, is described in Note 2, letter r). Information related to the concentration of credit risk is provided in Note 13, letters k, m and n. For derivative instruments, as of March 31, 2026, the Bank's foreign exposure, including counterparty risk in the derivatives portfolio, was US$1.66 million or 3% of total foreign exposure to countries with a rating above category 1, as shown in the table below. In the table below, as of March 31, 2026, exposure to derivative instruments is calculated using the credit equivalent risk, which is equal to the net replacement cost plus the maximum potential exposure, taking into account cash collateral that mitigates the exposure. Additionally, further details are provided below regarding our exposure to those countries with a rating above 1. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 189
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued At March 31, 2026, the exposure, considering the fair value of derivative instruments, amounted to: Derivative instruments (Market-adjusted) Deposits Loans Financial Investments Total exposure Domestic Loans Ranking US$ Million US$ Million US$ Million US$ Million US$ Million Hong Kong 2 - 10.47 55.01 - 65.48 México 3 1.63 0.23 - - 1.86 China 2 - - 76.84 - 76.84 Italia 2 - 0.60 - - 0.60 Panama 3 0.03 - - - 0.03 Oman 4 - - 0.59 - 0.59 Total 1.66 11.30 132.44 - 145.40 Our exposure to Spain within the group is as follows: Counterpart Country Classification Derivative instruments (market-adjusted) Deposits Loans Financial investments Total exposure en MMUS$ Banco Santander S.A. España 1 227 6 - - 233 (*) We include our exposure to Santander Hong Kong, BSCH Spain, and Santander NY as exposure to Spain. Recognition and measurement of credit risk provisions The Bank segments loans and contingent loans by borrower type and loan type, to a level appropriate for the application of the models. The provisions required to cover loans, debt instruments, and contingent loan exposure are calculated and recorded monthly, based on the valuation models used and the type of transaction. Provisions related to loans and receivables from customers/debt instruments measured at amortized cost and loans and receivables from customers at fair value through other comprehensive income are accounted as valuation accounts into respective items, and reporting net in the Consolidated Statement of Financial Position. Additional provisions and contingent loans provisions are reported as liabilities, in accordance with the FMC's directions. Provisions for financial assets at fair value through other comprehensive income are presented in Note No. 11, provisions for financial assets at amortized cost are presented in Note No. 13, and special provisions for credit risk (contingent loans, country risk, additional provisions) are presented in Note No. 26. Below is a summary of the financial assets and contingent loan exposure, subject to credit risk, and their respective provisions according to CASB standards (B1 to B3) as of March 31, 2026, and December 31, 2025: As of March 31, 2026 (**) Ch$mn Financial assets before provisions Established provisions Normal Portfolio Substandard Portfolio Impaired Portfolio Normal Portfolio Substandard Portfolio Impaired Portfolio Deductible FOGAPE Covid-19 guarantees Assessment Assessment Assessment Assessment Assessment Assessment Individual Group Individual Individual Group Individual Group Individual Individual Group Interbank loans 52,494 - - - - 54 - - - - - Commercial loans 9,720,614 5,062,824 1,266,004 776,407 561,405 125,790 79,585 59,429 297,807 202,009 1,019 Mortgage loans - 16,227,702 - - 1,125,852 - 35,244 - - 151,947 - Consumer loans - 5,786,290 - - 318,535 - 252,508 - - 182,288 - Contingent loan exposure 1,820,731 901,944 119,862 5,158 21,635 18,910 27,397 3,504 3,042 12,058 - ** For further details see Note 13 letter c, d and e. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 190
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued As of December 31, 2025 (**) Ch$mn Financial assets before provisions Established provisions Normal Portfolio Substandard Portfolio Impaired Portfolio Normal Portfolio Substandard Portfolio Impaired Portfolio Deductible FOGAPE Covid-19 guarantees Assessment Assessment Assessment Assessment Assessment Assessment Individual Group Individual Individual Group Individual Group Individual Individual Group Interbank loans 68,178 - - - - 107 - - - - - Commercial loans 9,766,344 4,985,078 1,372,848 699,289 540,276 124,192 76,229 68,212 246,174 199,632 2,196 Mortgage loans - 16,343,142 - - 1,100,421 - 35,562 - - 149,476 - Consumer loans - 5,730,098 - - 327,206 - 254,353 - - 185,073 - Contingent loan exposure 1,916,819 888,729 111,462 8,151 16,184 18,531 26,930 4,279 3,574 9,069 - ** For further details see Note 13 letter c, d and e. Below is a summary of the allowances associated with financial assets for which the allowance is determined in accordance with IFRS 9: As of March 31, 2026 As of December 31, 2025 Ch$mn Ch$mn Debt instruments at amortized cost 1,159 1,145 Repurchase agreements and securities lending 179 163 Debt instruments at fair value with changes in other comprehensive income 622 636 Loans and receivables at fair value with changes in other comprehensive income 4,438 4,487 Total 6,398 6,431 As of March 31, 2026 and December 31, 2025, the debt instrument portfolios include mainly instruments from the Chilean Central Bank and the General Treasury of the Republic, whose risk has been classified as low (without a significant increase in credit risk). A description of the IFRS 9 model applied to determine these provisions is found in Note 2, letter r). As of March 31, 2026 and December 31, 2025, the loans and receivables measured at fair value through other comprehensive income are high credit quality assets with assessed individually. Defaulted loans The defaulted loan portfolio includes debtors and their loans whose recovery is considered remote, as they show a deteriorated or non-existent payment capacity, have been subject to forced restructuring or are overdue by 90 days or more in the payment of interest or principal, and are classified as non-performing (C1 to C6). As of March 31, 2026 As of December 31, 2025 Financial assets Provisions Financial assets Provisions Ch$mn Ch$mn Ch$mn Ch$mn Interbank loans - - - - Commercial loans 1,337,812 499,816 1,239,565 445,806 Mortgage loans 1,125,852 151,947 1,100,421 149,476 Consumer loans 318,535 182,288 327,206 185,073 Contingent loan exposure 26,793 15,100 24,335 12,643 Total 2,808,992 849,151 2,691,527 792,998 Under the IFRS 9 model, the Bank presumes default when an asset is overdue for 90 days or more. As of the date of these financial statements, debt instruments and loans and receivables from customers measured at fair value through other comprehensive income are not in default . Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 191
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued Individual / Group assessment Group assessments are suitable for addressing a large number of transactions with low individual amounts, involving individuals or small businesses. The Bank groups borrowers with similar credit risk characteristics, assigning each group a specific probability of default and a recovery percentage based on a substantiated historical analysis. For this purposes, the Bank implemented the standard model for housing and commercial loans, and an internal model for consumer loans. IFRS 9 establishes the recognition of lifetime expected credit losses when significant increases in credit risk are observed since initial recognition. In that context, a collective assessment may be required, as the increase in credit risk may become more evident before the financial assets becomes nonperforming, depending on the nature and information available for the financial assets. This is always based on the assumption that the information is available without cost or effort. Impaired loans The impaired loan portfolio includes defaulted loans (C1 to C6), plus loans B3 and B4, in the case of individual assessments. As of March 31, 2026 and December 31, 2025, the impaired loan portfolio amounts to Ch$3,039,481 million and Ch$2,852,171 million, respectively. IFRS 9 defines an asset as credit-impaired when one or more events have occurred that have a negative impact on estimated future cash flows, evidenced by the issuer's financial difficulties, default, bankruptcy or financial reorganization, disappearance from an active market, among others. Debt instruments and loans and receivables from customers measured at fair value through other comprehensive income are not credit impaired. Write-off Write-offs must be made when contractual rights to cash flows expire. A write-off constitutes a derecognition event from balance sheet and include the unpaid portion in the case of installment loans (no partial write-off). Additional circumstances could lead the write-off of a loan: when the Bank concludes that it will not obtain any cash flows, or there is no enforceable title, when the collection demand actions expire, or when the deadlines defined by the FMC are reached (see Note 2, letter q). As of March 31, 2026 and December 31, 2025, the written-off loans amounted to Ch$178,625 million and Ch$158,283 million, respectively. IFRS 9 establishes that a write-off occurs when there is no reasonable expectation of recovering the contractual cash flows in whole or in part. A write-off constitutes a derecognition. Debt instruments and loans and receivables from customers measured at fair value through other comprehensive income do not include any written-off instruments/transactions. Reconciliation of loans The reconciliation between the opening and closing balances of provisions for financial assets measured at amortized cost and for contingent loans are presented in Note 13 letters f, g, h, i and j. The reconciliation between the opening and closing balances of provisions for financial assets measured at fair value with changes in other comprehensive income is presented in Note No. 11. The reconciliation of Interbank loans, commercial loans, mortgage loans, consumer loans, and exposure to contingent loans as of March 31, 2026, and December 31, 2025 is presented below: Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 192
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued Interbank loans Ch$mn Normal Portfolio Substandard Portfolio Impaired Portfolio TotalAssessment Assessment Individual Group Individual Group Balance as of January 1, 2026 68,178 - - - - 68,178 Change in measurement without portfolio reclassifying during the period - - - - - - Change due to portfolio reclassification - - - - - - New loans originated 50,267 - - - - 50,267 New loans due to translation from contingent to loans - - - - - - Loan payments (69,065) - - - - (69,065) Provision application for charge-offs - - - - - - Exchange rate difference 3,114 - - - - 3,114 Other changes in provisions - - - - - - Balance as of March 31, 2026 52,494 - - - - 52,494 Interbank loans Ch$mn Normal Portfolio Substandard Portfolio Impaired Portfolio TotalAssessment Assessment Individual Group Individual Group Balance as of January 1, 2025 31,283 - - - - 31,283 Change in measurement without portfolio reclassifying during the period 1 - - - - 1 Change due to portfolio reclassification - - - - - - New loans originated 266,298 - - - - 266,298 New loans due to translation from contingent to loans - - - - - - Loan payments (224,847) - - - - (224,847) Provision application for charge-offs - - - - - - Exchange rate difference (4,557) - - - - (4,557) Other changes in provisions - - - - - - Balance as of December 31, 2025 68,178 - - - - 68,178 Commercial loans Ch$mn Normal Portfolio Substandard Portfolio Impaired Portfolio TotalAssessment Assessment Individual Group Individual Group Balance as of January 1, 2026 9,766,344 4,985,078 1,372,848 699,289 540,276 17,363,835 Change in measurement without portfolio reclassifying during the period 149,600 79,317 7,936 74,921 57,642 369,416 Change due to portfolio reclassification (63,971) (41,224) (45,127) 92,460 57,862 - New loans originated 4,160,832 553,369 - - - 4,714,201 New loans due to translation from contingent to loans 6,296 13,284 - - - 19,580 Sale or transfer of loans (33,053) - - (20,554) - (53,607) Purchase or acquisition of assets - - - - - - Loan payments (4,347,708) (529,638) (75,335) (52,897) (69,342) (5,074,920) Provision application for charge-offs - - - (27,682) (25,338) (53,020) Exchange rate difference 82,274 2,638 5,682 10,870 305 101,769 Other changes in provisions - - - - - - Balance as of March 31, 2026 9,720,614 5,062,824 1,266,004 776,407 561,405 17,387,254 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 193
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued Commercial loans Ch$mn Normal Portfolio Substandard Portfolio Impaired Portfolio TotalAssessment Assessment Individual Group Individual Group Balance as of January 1, 2025 10,500,733 4,826,859 1,196,668 785,008 511,886 17,821,154 Change in measurement without portfolio reclassifying during the period 347,259 326,454 22,283 336,025 407,896 1,439,917 Change due to portfolio reclassification (420,949) (185,381) 336,272 69,467 200,591 - New loans originated 20,618,505 2,472,854 - - - 23,091,359 New loans due to translation from contingent to loans 174,961 71,334 - - - 246,295 Sale or transfer of loans (30,812) - - - - (30,812) Purchase or acquisition of assets - - - - - - Loan payments (21,135,178) (2,518,703) (167,528) (305,910) (444,095) (24,571,414) Provision application for charge-offs - - - (164,815) (135,118) (299,933) Exchange rate difference (288,175) (8,339) (14,847) (20,486) (884) (332,731) Other changes in provisions - - - - - - Balance as of December 31, 2025 9,766,344 4,985,078 1,372,848 699,289 540,276 17,363,835 Residential mortgage loans Ch$mn Normal Portfolio Impaired Portfolio TotalAssessment Assessment Individual Group Individual Group Balance as of January 1, 2026 - 16,343,142 - 1,100,421 17,443,563 Change in measurement without portfolio reclassifying during the period - 7,693 - 24,968 32,661 Change due to portfolio reclassification - (48,993) - 48,993 - New loans originated - 227,689 - - 227,689 Sale or transfer of loans - - - (849) (849) Purchase or acquisition of assets - - - (849) (849) Loan payments - (301,829) - (64,189) (366,018) Provision application for charge-offs - - - 16,508 16,508 Exchange rate difference - - - - - Other changes in provisions - - - - - Balance as of March 31, 2026 - 16,227,702 - 1,125,852 17,353,554 Residential mortgage loans Ch$mn Normal Portfolio Impaired Portfolio TotalAssessment Assessment Individual Group Individual Group Balance as of January 1, 2025 - 16,617,011 - 942,758 17,559,769 Change in measurement without portfolio reclassifying during the period - 345,437 - 454,902 800,339 Change due to portfolio reclassification - (217,266) - 217,266 - New loans originated - 1,382,078 - - 1,382,078 Sale or transfer of loans - - - - - Purchase or acquisition of assets - - - - - Loan payments - (1,784,118) - (452,381) (2,236,499) Provision application for charge-offs - - - (62,124) (62,124) Exchange rate difference - - - - - Other changes in provisions - - - - - Balance as of December 31, 2025 - 16,343,142 - 1,100,421 17,443,563 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 194
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued Consumer loans Ch$mn Normal Portfolio Impaired Portfolio TotalAssessment Assessment Individual Group Individual Group Balance as of January 1, 2026 - 5,730,098 - 327,206 6,057,304 Change in measurement without portfolio reclassifying during the period - 883,267 - 229,910 1,113,177 Change due to portfolio reclassification - (99,287) - 99,287 - New loans originated - 718,305 - - 718,305 New loans due to translation from contingent to loans - 157,153 - - 157,153 Sale or transfer of loans - - - - Purchase or acquisition of assets - - - - Loan payments - (1,605,279) - (228,779) (1,834,058) Provision application for charge-offs - - - (109,097) (109,097) Exchange rate difference - 2,033 - 8 2,041 Other changes in provisions (if applicable) - - - - - Balance as of March 31, 2026 - 5,786,290 - 318,535 6,104,825 Consumer loans Ch$mn Normal Portfolio Impaired Portfolio TotalAssessment Assessment Individual Group Individual Group Balance as of January 1, 2025 - 5,606,872 - 304,766 5,911,638 Change in measurement without portfolio reclassifying during the period - 3,272,264 - 754,340 4,026,604 Change due to portfolio reclassification - (365,972) - 365,972 - New loans originated - 2,937,880 - - 2,937,880 New loans due to translation from contingent to loans - 608,497 - - 608,497 Sale or transfer of loans - - - - - Purchase or acquisition of assets - - - - - Loan payments - (6,329,443) - (748,067) (7,077,510) Provision application for charge-offs - - - (349,805) (349,805) Exchange rate difference - - - Other changes in provisions (if applicable) - - - - - Balance as of December 31, 2025 - 5,730,098 - 327,206 6,057,304 Contingent loan exposure Ch$mn Normal Portfolio Substandard Portfolio Impaired Portfolio TotalAssessment Assessment Individual Group Individual Group Balance as of January 1, 2026 1,916,819 888,729 111,462 8,151 16,184 2,941,345 Change in measurement without portfolio reclassifying during the period 93,071 (56,770) 126 167 659 37,253 Change due to portfolio reclassification (1,555) (4,128) 1,509 46 4,128 - New loans originated 468,138 37,702 - - - 505,840 New loans due to translation from contingent to effective loans (17) 1,998 (2) - 214 2,193 Loan payments (696,162) (57,756) 5,499 (3,216) 260 (751,375) Provision application for charge-offs - - - - - - Exchange rate difference 40,437 92,169 1,268 10 190 134,074 Other changes in provisions (if applicable) - - - - - - Balance as of March 31, 2026 1,820,731 901,944 119,862 5,158 21,635 2,869,330 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 195
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued Contingent loan exposure Ch$mn Normal Portfolio Substandard Portfolio Impaired Portfolio TotalAssessment Assessment Individual Group Individual Group Balance as of January 1, 2025 1,767,601 956,494 102,317 9,480 14,603 2,850,495 Change in measurement without portfolio reclassifying during the period 293,489 319,552 1,237 23,739 3,808 641,825 Change due to portfolio reclassification (811) 9,857 167 (21,689) 12,476 - New loans originated 2,210,895 214,576 - - - 2,425,471 New loans due to translation from contingent to loans (39,392) (10,141) (534) (98) (714) (50,879) Loan payments (2,201,190) (287,745) 14,061 (3,245) (13,460) (2,491,579) Provision application for charge-offs - - Exchange rate difference (113,773) (313,864) (5,786) (36) (529) (433,988) Other changes in provisions (if applicable) - Balance as of December 31, 2025 1,916,819 888,729 111,462 8,151 16,184 2,941,345 The normal portfolio encompass debtors whose payment capacity allows them to meet their obligations and commitments, and this is not expected to change. When a debtor experiences financial difficulties or a significant deterioration in its payment capacity, and there are reasonable doubts about the full recovery of principal and interest under the contractual terms, the client is classified in the substandard portfolio. A client will be classified in the defaulted portfolio if the probability of credit recovery is considered remote, as it payment capacity is deteriorated or nonexistent. The gross movements in financial assets at fair value through other comprehensive income and debt instruments at amortized cost as of March 31, 2026, and December 31, 2025, are presented below: A. Financial assets at fair value through other comprehensive income Debt financial instruments Phase 1 Debt financial instruments Phase 1 Ch$mn Ch$mn Balance as of January 1, 2026 3,598,366 Balance as of January 1, 2025 2,687,485 Purchases of debt instruments 339,451 Purchases of debt instruments 6,733,987 Sales and maturities (486,739) Sales and maturities (5,891,983) Changes in measurement of financial assets 51,366 Changes in measurement of financial assets 68,877 Balance as of March 31, 2026 3,502,444 Balance as of December 31, 2025 3,598,366 Commercial loans Phase 1 Phase 2 Phase 3 Total Ch$mn Ch$mn Ch$mn Balance as of January 1, 2026 77,805 – 17,036 94,841 New loans originated – – – – Transfer to phase 1 – – – – Transfer to phase 2 – – – – Transfer to phase 3 – – – – Sales and maturities (10,038) – – (10,038) Changes in measurement of financial assets 500 – 828 1,328 Balance as of March 31, 2026 68,267 – 17,864 86,131 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 196
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued Commercial loans Phase 1 Phase 2 Phase 3 Total Ch$mn Ch$mn Ch$mn Balance as of January 1, 2025 56,146 – – 56,146 New loans originated 44,500 – – 44,500 Transfer to phase 1 (17,770) 17,770 – – Transfer to phase 2 – – – Transfer to phase 3 – (18,211) 18,211 – Sales and maturities (653) – – (653) Changes in measurement of financial assets (4,418) 441 (1,175) (5,152) Balance as of December 31, 2025 77,805 – 17,036 94,841 Residential mortgage loans Phase 1 Phase 2 Phase 3 Total Ch$mn Ch$mn Ch$mn Balance as of January 1, 2026 201,408 – – 201,408 New loans originated 109,749 – – 109,749 Transfer to phase 1 2,092 (2,092) – – Transfer to phase 2 (9,899) 9,899 – – Transfer to phase 3 (63) (65) 128 – Sales and maturities – – – – Changes in measurement of financial assets (21,120) (720) (5) (21,845) Balance as of March 31, 2026 282,167 7,022 123 289,312 During 2025, the Bank sold 276 transactions from the residential mortgage portfolio measured at fair value through other comprehensive income, for an amount of approximately Ch$38,548 million, generating a gain of approximately Ch$1,469 million. Consumer loans Phase 1 Phase 2 Phase 3 Total Ch$mn Ch$mn Ch$mn Balance as of January 1, 2025 19,921 – – 19,921 New loans originated 251,444 – – 251,444 Transfer to phase 1 5,016 (5,016) – – Transfer to phase 2 (5,141) 5,141 – – Transfer to phase 3 – – – – Sales and maturities (37,630) (918) – (38,548) Changes in measurement of financial assets (32,202) 793 – (31,409) Balance as of December 31, 2025 201,408 – – 201,408 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 197
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued B. Debt instruments at amortized cost Debt financial instruments Phase 1 Debt financial instruments Phase 1 Ch$mn Ch$mn Balance as of January 1, 2026 5,526,387 Balance as of January 1, 2025 5,177,079 Purchases of debt instruments — Purchases of debt instruments 133,181 Sales and maturities — Sales and maturities - Changes in measurement of financial assets 57,695 Changes in measurement of financial assets 216,127 Balance as of March 31, 2026 5,584,082 Balance as of December 31, 2025 5,526,387 Rights under repurchase and securities lending agreements Phase 1 Rights under repurchase and securities lending agreements Phase 1 Ch$mn Ch$mn Balance as of January 1, 2025 428,146 Balance as of January 1, 2025 153,135,000,000.00 New operations 2,297,224 New operations 5,723,236 Maturities (1,662,733) Maturities (5,434,180) Changes in measurement (6,704) Changes in measurement (14,045) Balance as of March 31, 2026 1,055,933 Balance as of December 31, 2025 428,146 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 198
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued Guarantees and credit enhancements Maximum exposure to credit risk is, in some cases, reduced by collateral, credit enhancements, and other actions that mitigate the Bank's exposure. Based on this, guarantees are a necessary but insufficient instrument in granting loans; therefore, the Bank's risk acceptance requires verification of other variables or parameters, such the payment capacity or generation of resources to mitigate the risk incurred. The procedures for management and valuation of guarantees are included in the internal risk management policy. These policies establish the basic principles for credit risk management, and the management over guarantees received in operations with clients. In this regard, the risk management model includes assessing the existence of appropriate and sufficient guarantees that allow credit recovery when the debtor's circumstances prevent him from meeting his obligations. The collateral valuation procedures are consistent with market best practices, which involve the use of appraisals for real estate guarantees, market value for stock market securities, the value of investment fund shares, etc. All received guarantees must be properly instrumented and appropriately registered, as well as have the approval of the Bank's legal divisions. The Bank also has rating tools that allow ranking the credit quality of transactions or clients. The Bank historical databases, store internally generated information, that allow to study the probability of variation. Rating tools consider client segment analyzed (commercial, consumer, SME, etc.). The maximum exposure to credit risk by type of loans, the associated collateral and the net exposure to credit risk as of March 31, 2026, and December 31, 2025 are presented below: As of March 31, 2026 As of December 31, 2025 Maximum credit risk exposure Collateral Net exposure Allowance Maximum credit risk exposure Collateral Net exposure Allowance Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Interbank loans 52,494 41,799 10,695 54 68,178 39,128 29,050 107 Commercial loans 17,387,254 10,195,480 7,191,774 765,639 17,363,835 10,172,100 7,191,735 716,635 Residential Mortgage loans 17,353,554 17,044,108 309,446 187,191 17,443,563 17,167,022 276,541 185,038 Consumer loans 6,104,825 531,039 5,573,786 434,796 6,057,304 534,442 5,522,862 439,426 Contingent loans exposure 2,869,330 342,736 2,526,594 64,911 2,941,345 340,783 2,600,562 62,383 Total 43,767,457 28,155,162 15,612,295 1,452,591 43,874,225 28,253,475 15,620,750 1,403,589 Mortgage loans, by their nature, are secured by the property underlying the transaction, meaning that the property acquired by the customer guarantees the loan. When the Bank is required to take possession of or foreclose on a property, it is recorded as an “Asset received or awarded in lieu of payment,” and the loan and its allowance are derecognized. The asset received is recorded at the lower of its carrying amount and its fair value (appraisal) less costs to sell, in accordance with IFRS 5, and is classified as held for sale. Once a loan has been derecognized, there are no further collection or enforcement activities. The following are the impaired and non-impaired financial assets that have associated guarantees, collateral or credit enhancements in favor of the Bank as of March 31, 2026, and December 31, 2025: As of March 31, 2026 As of December 31, 2025 Ch$mn Ch$mn Non-impaired financial assets Properties/mortgages 25,622,143 25,754,814 Investments and others 11,260,151 14,682,932 Impaired financial assets Properties/mortgages 3,249,982 3,358,646 Investments and others 365,130 358,671 Total 40,497,406 44,155,063 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 199
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued Financial derivative transactions are guaranteed by collateral agreements, which are deposited or transferred by one third party on behalf of another. These can be in cash or financial instruments, and reduce the counterparty's credit risk. These guarantees are monitored periodically (usually daily). Based on this, the net balance per counterparty is determined, and based on agreed-upon parameters, it is determined whether a collateral should be deposited or collected. Credit limits for borrowers related to the Bank’s ownership or management In accordance with Article 84 No. 2 of the General Banking Law and UCBR 12-4, the total amount of credit granted to a group of related parties may not exceed 5% of the Bank’s regulatory capital. This limit increases to 25 percent if the portion exceeding 5 percent consists of loans secured by collateral. In no case may the total of such credits granted by a bank exceed the amount of its regulatory capital. These loans may not be granted under more favorable conditions in terms of maturity, interest rates, or collateral than those offered to third parties in similar transactions. A relationship with the Bank occurs when they have a direct, indirect, or third-party participation in the Bank's ownership, participate in the management, or are presumed to exist until sufficient evidence is presented to eliminate that presumption. It will be understood that all natural and legal persons who can exert significant and permanent influence on the decisions of the other form the same group of persons related to the Bank, where there is a presumption that the credits granted to one person will be used for the benefit of another or a well-founded presumption that the persons maintain a relationship and form a unit of economic interest. Companies related to a Bank include subsidiaries, support companies, and affiliates. Legal guarantees include guarantees on tangible personal or real property, real estate, or any other property that can legitimately be accepted as collateral. On March 31, 2026, and December 31, 2025, the credit limit for debtors related to the ownership or management of the Bank according to article 84 No. 2 of the GBL and Chapter 12-4 of the UCBR are as follows: As of March 31, 2026 As of December 31, 2025 % Ch$mn % Ch$mn Overall limit to related parties 7 % 501,617 7 % 487,292 Regulatory capital 7,165,957 7,047,321 MARKET RISK Market risk arises as a result of market activity involving financial instruments whose value may be affected by fluctuations in market conditions and reflected in assets/liabilities changes and financial risk factors. The objective of market risk management is to manage and control exposure to market risk within acceptable parameters. There are four major risk factors that affect market prices: interest rates, exchange rates, price, and inflation. • Interest Rate Risk: the exposure to losses arising from adverse changes in market interest rates that affect the value of instruments, contracts and other transactions recorded on the balance sheet. • Exchange risk is the sensitivity to losses arising from adverse changes in the value of the exchange rates of foreign currencies, including gold, in which the instruments, contracts and other transactions recorded on the balance sheet are denominated. • Inflation risk is the exposure to losses arising from adverse changes in the units or indices of readjustment defined in national currency. The instruments, contracts, and other transactions are denominated on the balance sheet. • Price risk is generated by the volatility of rates or prices of assets or liabilities. Prepayment risk arises when, based on price movements, holders can alter the future cash flows of these assets or liabilities, leading to balance sheet mismatches that pose additional challenges to market risk management. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 200
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued Market risk management The measurement and control of market risks are the responsibility of Market Risk Area, which is part of the Risk Division. The appropriate committees approve the limits, with responsibility resting mainly with the ALCO. The Integral Risk Committee also reviews the principal market risks. The Financial and Capital Management areas, as part of the Financial Vice-Presidency, have the following functions, which are supervised and controlled by the ALCO and Risk Division: i. To optimize the cost of liabilities and seek the most efficient financing strategies, including issuing bonds and bank facilities. ii. Management of short- and long-term regulatory liquidity limits. iii. Inflation risk management and exposure. iv. To manage local and foreign currency rate risk. v. Capital adequacy and requirements. Rate sensitivity is measured primarily using an analysis that quantifies the impact on earnings and the balance sheet of parallel movements in the real and nominal interest rate curve in Pesos and US dollars. The Bank's internal management for measuring market risk is mainly based on analyzing the management of the following three components: • Trading portfolio. • Local currency financial management portfolio. • Foreign currency financial management portfolio. The Treasury manages the Bank's trading portfolios and ensures they remain within the loss limits determined, calculated and estimated by the Market Risk Area. The trading portfolio (measured at fair value through profit or loss) consists mainly of those investments measured at fair value, free of any restriction on their immediate sale and which are often bought and sold by the Bank to sell them in the short term to benefit from short-term price movements. The Financial Management's portfolios (measured at fair value through other comprehensive income) include all financial investments not considered in the trading portfolio. The roles that concern the trading portfolio comprise the following: i. applying Value-at-Risk (VaR) techniques to measure interest rate risk, ii. adjusting trading portfolios to market and the measurement of daily profit and loss from trading activities, iii. comparing the actual VAR with the established limits, iv. establishing loss control procedures for losses above predetermined limits, and v. providing information on trading activities to the ALCO, other members of the Bank's management, and the Global Risk Department. The functions regarding financial management portfolios entail the following: i. Applying sensitivity simulations (as explained below) to measure the interest rate risk of local currency activities and the potential loss predicted by these simulations and ii. Providing the respective daily reports to the ALCO, other members of the Bank's Management, and the Global Risk Department. Market risk – Trading portfolio The Bank applies VaR methodologies to measure exchange rate risk and sensitivity to interest rates of the trading portfolio. The Bank has a consolidated commercial position comprised of fixed income investments and foreign currency trading. This portfolio is essentially composed of bonds from the Central Bank of Chile, mortgage bonds and low risk locally issued corporate bonds. At the end of the year, the trading portfolio did not contain investments in equity. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 201
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued For the Bank, the VaR estimate is carried out using a historical simulation methodology, which consists of observing the behavior of the losses and gains that would have occurred with the current portfolio using the market conditions of a predetermined historical period. From that information, the maximum loss is inferred with a certain level of confidence. The methodology has the advantage of accurately reflecting the historical distribution of market variables and of not requiring any specific probability distribution assumptions. All VaR measures are intended to determine the distribution function for the change in the value of a given portfolio, and once this distribution is known, to calculate the percentile related to the necessary confidence level, which will be equal to the value at risk in virtue of those parameters. As calculated by the Bank, the VaR is an estimate of the maximum expected loss of the market value of a given portfolio over a 1-day horizon at a confidence level of 99.00%. It is the maximum one-day loss that the Bank could expect to suffer on a given portfolio with the 99.00% confidence level. In other words, it is the loss that the Bank would expect to exceed only 1.0% of the time. VaR provides a single estimate of market risk that is not comparable from one market risk to another. Returns are calculated using a time window of 2 years or at least 520 data points obtained from the VaR calculation reference date backward in time. The Bank does not calculate three separate VaRs. Instead, a single VaR is calculated for the entire trading portfolio, further segregated by risk type. The VaR program performs a historical simulation and calculates a Profit and Loss (P&L) statement for 520 data points (days) for each risk factor (fixed income, foreign exchange and equities). Then, the P&L of each risk factor is added together, and a consolidated VaR is calculated with 520 data points or days of data. Simultaneously, the VaR is calculated for each risk factor based on the individual P&L calculated for each factor. Moreover, a weighted VaR is calculated similarly, as described above, but gives a higher weighting to the most recent 30 data points. As a result, the higher of the two VaRs is reported. The Bank uses VaR estimates to warn if statistically estimated losses in the trading portfolio exceed prudent levels and, therefore, certain predetermined limits are in place. Limitations of the VaR model In applying this methodology for calculation, no assumptions are made about the distribution probability of changes in the risk factors; instead, the historically observed changes are used to generate scenarios for the risk factors under which each portfolio item will be valued. The definition of a valuation function fj (xi) for each instrument j is necessary, preferably the same as the one used to calculate the market value and daily position results. This valuation function shall be applied to generate simulated prices for all instruments in each scenario. Furthermore, the VaR methodology should be interpreted considering the following limitations: • Market rate and price changes may not consist in independent and identically distributed random variables, nor may they have a normal distribution. The normal distribution assumption, in particular, may underestimate the probability of extreme market movements. • The historical data used by the Bank may not provide the best estimate of future joint distribution of changes in risk factors. Any modification of the data may be inappropriate. In particular, the use of historical data may fail to capture the risk of possible extreme and adverse market fluctuations regardless of the time frame used; • A 1-day time horizon may not fully capture those market risk positions that cannot be liquidated or hedged within one day. It would not be possible to liquidate or hedge all positions in one day; • The VaR is calculated at the end of negotiations, but trading positions may change substantially during the trading day; • The use of a 99% confidence level does not consider or make any representation about losses that may occur beyond this confidence level, and • The VaR model does not capture all the complex effects of risk factors on the value of positions or portfolios and, therefore, may underestimate potential losses. As of March 31, 2026, and December 31, 2025, the Bank did not exceed the VaR limits of the trading portfolio’s, considering the three components: fixed-income, equity, and foreign currency investments. The Bank performs back-testing daily and generally finds that trading losses exceed the estimated VaR almost once every 100 trading days. At the same time, a limit was set on the maximum acceptable VaR on the trading portfolio. As of March 31, 2026, and December 31, 2025, the Bank has remained within its VaR threshold, even in instances where the actual VaR exceeded the estimated VaR. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 202
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued The high, low and average levels for each component and each year were as follows: VAR As of March 31, 2026 2025 US$mn US$mn Consolidated High 4.67 3.19 Low 1.50 1.53 Average 2.25 1.53 Fixed income investments High 3.10 2.72 Low 1.38 1.41 Average 1.98 1.72 Variable income investments High – – Low – – Average – – Foreign currency investments High 3.25 2.54 Low 0.07 0.14 Average 0.81 1.11 Market risk – Local and foreign financial management The Bank's financial management portfolio includes most of the Bank's assets and non-trading liabilities, including the loan portfolio. The Bank's commercial strategies (structural risk) heavily influence these portfolios' investment and funding decisions. The Bank uses sensitivity analysis to measure the market risk of local and foreign currency (not included in the trading portfolio). The Bank conducts a scenario simulation, which is calculated as the difference between the present value of the flows in the chosen scenario (curve with a parallel movement of 100 bps in all segments) and their value in the baseline scenario (current market). All items in local currency indexed to inflation (UF) are adjusted by a sensitivity factor of 0.57, representing a yield curve shift by 57 basis points in real rates and 100 basis points in nominal rates. The same scenario is conducted for net foreign currency positions and interest rates in US dollars. The Bank has also set limits on the maximum loss these interest rate movements can have on budgeted capital and net interest income for the year. To determine the consolidated limit, the foreign currency limit is added to the local currency limit for both the net financial loss limit and the capital loss and reserves limit using the following formula: Bounded limit = square root of a2 + b2 + 2ab, in which: a: limit in national currency. b: limit in foreign currency. Since it is assumed that the correlation is 0. 2ab = 0. Limitations of sensitivity models The most important assumption is using a change of 100 basis points in the yield curve (57 basis points for real rates). The Bank uses a change of 100 basis points as sudden changes of this magnitude are considered realistic. In addition, the Global Risk Department has also established comparable country limits to compare, monitor and consolidate market risk by country in a realistic and orderly manner. Furthermore, the methodology of sensitivity simulations should be interpreted considering the following limitations: • The scenario simulation assumes that the volumes remain on the Bank's Interim Consolidated Statements of Financial Position and are always rolled over at maturity, omitting the fact that certain credit risk considerations and prepayments may affect the maturity of certain items. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 203
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued • This model assumes an equal change across the entire yield curve and does not consider different movements for different maturities. • The model does not consider the sensitivity of volumes resulting from changes in interest rates. Limits on budgeted finance income losses are calculated based on expected finance income for the year that cannot be obtained. This means the actual percentage of finance income at risk could be higher than expected. Market Risk - Financial Management Portfolio as of March 31, 2026, and December 31, 2025: As of March 31, 2026 As of December 31, 2025 Effect on financial income Effect on capital Effect on financial income Effect on capital Financial management portfolio - local currency (in Ch$mn) Loss limit 98,072 343,819 175,196 370,271 High 14,006 128,619 9,968 186,784 Low 11,605 96,459 11,605 96,459 Average 830 117,120 703 131,800 Financial management portfolio - foreign currency (in US$ million) Loss limit 27,833 185,550 40,531 180,138 High 9,586 45,902 9,586 68,145 Low — — — — Average 2,476 13,638 1,099 20,534 Financial management portfolio - consolidated (in Ch$mn) Loss limit 98,072 343,819 175,196 370,271 High 18,456 274,800 27,182 348,027 Low 4,600 220,720 4,600 237,954 Average 9,522 251,538 13,044 273,792 Inflation risk The Bank's assets and liabilities are indexed according to the Unidad de Fomento (UF) variation. The Bank has, in general, more assets than liabilities in UF. Therefore, moderate rises in inflation have a positive effect on interest income from inflation adjustments, while a fall in the UF value negatively impacts the Bank's net interest margin. To manage this risk, the Assets and Liabilities Committee limits the difference between UF-denominated assets and liabilities, which may not exceed 30% of the Bank's interest-earning assets. Financial Management manages this mismatch on a day-to-day basis, and the limits are calculated and monitored by the Market Risk Division. Market Risk items and their measurement Market Risk Exposure is measured and monitored using the difference between the foreign currency asset and liability balances (net position) and the cash flows payable (associated with liability items) and cash flows receivable (associated with asset items) in the Trading and Banking Books for a given period. Foreign currency items and term mismatches are exposed to different adjustment factors, sensitivities, and rate changes. The Board of Directors of Banco Santander Chile presented and approved the Market Risk Exposure Policy on a Standardized Basis. The following risks will determine Market Risk Exposure: • Interest Rate Risk. • Foreign exchange Risk. • Readjustment (Inflation) Risk. • Currency Options Risk. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 204
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued The following illustrates the market risk exposure according to the guidelines of the FMC and the Central Bank of Chile. The maximum exposure to long-term interest rate risk is 35% of regulatory capital and is approved by the Board of Directors. The maximum exposure to short-term interest rate risk is 55% of total net interest income and readjustment income plus interest rate sensitive fees: As of March 31, 2026 As of December 31, 2025 Ch$mn Ch$mn Market risk of the trading book Exposure to interest rate risk 644,686 565,138 Exposure to foreign currency risk 8,397 4,484 Exposure to foreign currency options 1,412 1,896 Total exposure of the trading portfolio 654,495 571,518 10% of Risk Weighted Assets (RWA) 818,118 714,397 Subtotal 1,472,613 1,285,915 Limit = Regulatory capital 7,165,957 7,047,322 Available margin 5,693,344 5,761,407 Short-term exposure to interest rate risk 164,864 101,913 Exposure to readjustment (inflation) risk 191,457 153,766 Short-term risk of the banking book 356,321 255,679 Limit = 55% of total net interest income + fees sensitive to interest rates 996,294 1,008,348 Available margin 639,973 752,669 Long-term exposure to interest rate risk 797,836 728,870 Limit = 35% of regulatory capital 2,508,085 2,466,563 Available margin 1,710,249 1,737,693 To fulfill its functions, the Integral Risk Committee works directly with the Bank's control and risk departments whose joint objectives include: • Evaluate those risks that, due to their size, could compromise the Bank's solvency, or that potentially present significant operational or reputational risks; • Ensure that the Bank is equipped with the means, systems, structures and resources in accordance with the best practices that allow the implementation of the risk management strategy; • Ensure the integration, control and management of all the Bank's risks; • Execute the application throughout the Bank and its businesses of homogeneous risk principles, policies and metrics; • Develop and implement a risk management model in the Bank, so that risk exposure is adequately integrated into the different decision-making processes; • Identify risk concentrations and mitigation alternatives, monitor the macroeconomic and competitive environment, quantifying sensitivities, and the foreseeable impact of different scenarios on risk positioning; and • Manage the structural risks of liquidity, interest rates and exchange rates, as well as the Bank's own funding base. To meet the aforementioned objectives, the Bank (Management and ALCO) carries out several activities related to risk management, which include: calculating the risk exposures of the different portfolios and/or investments, considering mitigating factors (guarantees, netting , collaterals, etc.); calculate the probabilities of expected loss for each portfolio and/or investments; assign loss factors to new operations (rating and scoring); measure the risk values of portfolios and/or investments based on different scenarios through historical simulations; establish limits on potential losses based on the different risks incurred; determine the possible impacts of structural risks on the Bank's Interim Consolidated Statements of Financial Position; set the limits and alerts that guarantee the Bank's liquidity; and identify and quantify operational risks by business lines and thus facilitate their mitigation through corrective actions. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 205
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued LIQUIDITY RISK This refers to the possibility that an entity may not be able to meet its payment commitments or may have to resort to raising funds on burdensome terms. Liquidity risk management The Bank's approach to liquidity management is to ensure, to the extent possible, that it always has sufficient resources to meet its obligations as they fall due under normal circumstances and stress conditions without incurring unacceptable losses or risking damage to the Bank's reputation. The Financial Management area manages liquidity risk by using a portfolio of liquid assets to ensure that the Bank always maintains sufficient liquidity to cover short-term fluctuations and long-term funding while complying with internal liquidity regulatory requirements. The Financial Management area receives information from all business units on the liquidity profile of their financial assets and liabilities, as well as a breakdown of other projected cash flows from future business. Based on this information, the area maintains a portfolio of short-term liquid assets, consisting mainly of liquid investments, loans and advances to other banks, to ensure that the Bank has sufficient liquidity. The liquidity needs of the business units are covered by short-term transfers from Financial Management to cover short-term fluctuations and long-term funding to meet all structural liquidity needs. Accordingly, the Board sets limits on a minimum portion of maturing funds available to meet such payments and on a minimum level of interbank operations and other lending facilities that should be available to cover unexpected demands for withdrawals of liquidity. This is reviewed periodically by the ALCO whose functions include monitoring the strategies to manage liquidity risk. Setting these limits is conceived as a dynamic process that responds to the level of risk appetite deemed acceptable by the Bank and its entities. The system of limits is sufficiently robust to be aware at all times of the level of exposure that each institution is incurring in, in terms of liquidity risks. Besides the limits, the Bank includes alert indicators by the concentration of counterparties, type of products, and maturities in its management to diversify the funding sources and their maturity structure. The Bank monitors its liquidity position daily, determining future inflows and outflows. Furthermore, stress tests are performed at the end of each month, using a variety of scenarios covering both normal market conditions and market fluctuation (stress) conditions. The Bank has a structure of internal liquidity limits that Financial Management and the Treasury must respect at all times. Market Risk Management calculates and monitors the consumption of internal limits, verifies compliance with them and communicates their status to senior management and the Board of Directors. At the beginning of each calendar year, these limits are proposed by Market Risk Management, approved locally at the ALCO and then ratified at the highest Board level. Liquidity limits and early warning indicators, and internally defined management measures can be differentiated into the following three groups: • Limits associated with concentration and mismatches of cash flows and liquidity of the Bank's operations. • Liquidity Management Tools, known as Structural Liquidity or Funding Tables, are used to determine the Bank's structural liquidity position. It also permits the Bank to actively manage its structural liquidity, since this is an essential mechanism to ensure a permanent funding of assets under optimal conditions. • Early warning indicators are linked with concentration risks and are used as tools for detecting and anticipating potential liquidity stress situations and, if necessary, activating the Liquidity Contingency Plan. The Market Risk Area establishes and updates the Bank’s Liquidity Management Policy (LMP). Reviews and possible updates are conducted once a year. Nevertheless, it may be updated at the request of any areas affected by the LMP that have identified the need for modification. The Board approves the contents of the LMP. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 206
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued The Market Risk Area provides all the necessary tools for the statistical analysis required by local liquidity regulations. It also assesses, at least once a year, whether the models are still valid. The Board of Directors must approve the conclusions of this analysis. In periods of normal liquidity, Financial Management applies policies and makes arrangements to keep the Bank within internal and regulatory limits. If a crisis has been identified, even at its mildest level, the Liquidity Crisis Committee applies the necessary policies to deal with potential liquidity shortfalls or restrictions, creates contingency plans to manage emergencies quickly, and reports such situations to senior management and the respective committees. Liquidity risk measurement and control 1. Maturity mismatches subject to regulatory limits The Regulatory Liquidity Ratio measures and limits the mismatches of net income flows relative to capital. Under current regulations, the 30-day mismatch cannot exceed the Bank's core capital for both domestic and foreign currency by one time, and the 90-day mismatch cannot exceed it by two times. 2. Monitoring indicators and liquidity ratios subject to regulatory limits An important component of liquidity risk management is High-Quality Liquid Assets (HQLA). These are balance sheet assets, mainly consisting of financial investments that are not pledged as collateral, have low credit risk, and have a deep secondary market. According to Basel III standards, these assets are divided into three tiers, with Tier 1 assets being the most liquid and Tier 3 the least liquid. Tier 1 assets are mostly composed of bonds from the Republic of Chile, the Central Bank of Chile, and the United States Treasury. HQLA As of March 31, 2026 As of December 31, 2025 Ch$mn Ch$mn Tier 1: cash and cash equivalents 1,602,700 1,904,994 Tier 1: fixed income 6,441,047 6,227,856 Tier 2: fixed income 2,844 3,163 Total 8,046,591 8,136,013 3. Liquidity Coverage Ratio (LCR) The Liquidity Coverage Ratio (LCR) measures liquid assets over 30-day net cash outflows. It is used by banks globally as part of the Basel III standards. Chilean banks were required, starting in 2019, to meet a minimum level of 60%, which was to gradually increase to 100% by 2022. For the 2025 fiscal year, a minimum level of 100% was mandated. The objective of the LCR is to promote the short-term resilience of banks' liquidity risk profiles. To this end, the LCR ensures banks have an adequate pool of unencumbered High-Quality Liquid Assets, which can be easily and immediately converted into cash in the private markets to cover short-term liquidity needs. Liquidity coverage ratio As of March 31, 2026 As of December 31, 2025 % % LCR 151 188 Banco Santander-Chile's LCR indicator was well above the minimum required. This reflects the conservative liquidity policies imposed by the Board of Directors through the Assets and Liabilities Committee. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 207
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued 4. Net Stable Funding Ratio (NSFR) This indicator is required by Basel III and provides a sustainable maturity structure of assets and liabilities so that banks maintain a stable funding profile concerning their activities. The Central Bank of Chile and the FMC established a minimum NSFR level of 60% for 2022, gradually increasing to 100% by 2026. For 2026, the minimum required level is 100%. Net stable funding ratio As of March 31, 2026 As of December 31, 2025 % % NSFR 116 115 5. Information on liquidity position per the requirements of the Central Bank of Chile i.Maturity mismatches The Central Bank of Chile published on March 8, 2022, Rules on the Management and Measurement of the Liquidity Position of Banks, which modernized liquidity regulation, aligning the published regulatory requirements of the FMC to Basel III standards. According to the Central Bank, the liquidity position is measured and monitored through the difference between cash flows payable, which are associated with liability and expense account items, and cash flows receivable, which concern asset and income account items, for a given period or time frame, referred to as the maturity mismatch. The liquidity policy on an Adjusted Basis was presented and approved by the Board of Directors of Banco Santander-Chile. Maturity mismatch calculations are performed separately for domestic and foreign currencies. Maturity mismatches shall be made in the following time frames: • First time frame: up to 7 days inclusive. • Second time frame: between 8 days and 15 days inclusive. • Third time frame: between 16 and 30 days inclusive. As of March 31, 2026 Individual Consolidated Up to 7 days Up to 15 days Up to 30 days Up to 7 days Up to 15 days Up to 30 days Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Cash flow to be received (assets) and income 4,296,942 766,745 2,293,714 4,296,172 766,745 2,293,714 Cash flow payable (liabilities) and expenses 3,657,092 1,396,010 2,715,789 3,635,341 1,396,010 2,715,789 Mismatch 639,850 (629,265) (422,075) 660,831 (629,265) (422,075) Mismatch subject to limits (411,490) (390,509) Limits: 1 time capital 4,739,336 4,893,821 Available margin 4,327,846 4,503,312 % Used 9 % 8 % Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 208
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued As of December 31, 2025 Individual Consolidated Up to 7 days Up to 15 days Up to 30 days Up to 7 days Up to 15 days Up to 30 days Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Ch$mn Cash flow to be received (assets) and income 2,933,007 1,478,146 1,323,245 2,931,749 1,478,146 1,323,245 Cash flow payable (liabilities) and expenses 2,595,355 1,585,737 1,997,139 2,577,161 1,585,737 1,997,139 Mismatch 337,652 (107,591) (673,894) 354,588 (107,591) (673,894) Mismatch subject to limits (443,833) (426,897) Limits: 1 time capital 4,719,697 4,839,639 Available margin 4,275,864 4,412,742 % Used 9 % 9 % ii. Composition of funding sources The main sources of third-party funding are as follows: Main sources of funding As of March 31, 2026 As of December 31, 2025 Ch$mn Ch$mn Deposits and other demand liabilities 13,746,375 14,075,590 Time deposits and other term equivalents 17,247,578 16,493,783 Interbank borrowing 3,421,243 3,434,237 Debt and regulatory capital instruments issued 10,225,560 10,277,061 Total 44,640,756 44,280,671 The Chilean Central Bank has statutory powers allowing it to demand banks to hold reserves of up to 40% on average for demand deposits and up to 20% for time deposits to implement monetary measures. Furthermore, as the aggregate amount of demand deposits exceeds 2.5 times the bank's regulatory capital, the bank must maintain a 100% 'technical reserve' against them in bonds and Central Bank's notes. As of March 31, 2026, and December 31, 2025, the Central Bank required the Bank to maintain a technical reserve of Ch$0 for both periods. The volume and composition of liquid assets are presented in item 2 above. The liquidity coverage ratio is presented in item 3 above. 6. Maturity analysis of financial liabilities The remaining contractual maturities of financial liabilities are provided in Note 45. The liquidity management inherent in derivative and non-derivative financial liabilities is managed through various levers that enable this risk to be kept in line with the profile defined by the Bank while at the same time making efficient use of available liquidity. To this end, a high level of liquid assets is maintained, and the level of expected short-term income and expenditure is monitored daily, thus avoiding high concentrations of maturities. On the other hand, a very diversified funding matrix is maintained, both across product types and customer types. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 209
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued OPERATIONAL RISK Operational risk is defined as the risk of loss due to defects or failures of internal processes, employees and systems or external events. It covers risk categories such as operational incidents, cloud computing, cyber security, business continuity, and outsourced services, both and strategic and non-strategic. Operational risk is generated in all business and support areas and is inherent to all products, activities, processes and systems. For this reason, all employees are responsible for managing and controlling the operational risks generated by their activities. Our operational risk control and management model is based on a continuous process of identifying, assessing and mitigating risk sources, whether or not they have materialized, ensuring that risk management priorities are properly established. Operational risk management The operational risk model regulates the necessary elements for adequate management and control of operational risk, aligned with compliance with advanced regulatory standards and best management practices, and includes the following phases: • strategy and planning; • identification, assessment and monitoring of risks and internal controls; • implementation and monitoring of mitigation measures; • availability of information, adequate reporting and escalation of relevant issues. The main operational risk tools used are: • Internal events database. Recording operational risk events with financial impact (all losses are recorded, regardless of their amount) or non-financial impact (such as the regulatory impact on customers and/or services). This information: - allows root-cause analysis; - raises awareness of risks; - enables the escalation of relevant operational risk events to the senior management of the Risk Division with maximum immediacy; - facilitates regulatory reporting; • Self-assessment of operational risks and controls. A qualitative process that assesses the main operational risks related to each function, the state of the control environment and their assignment to the different functions within the Bank, using the judgment and experience of a panel of experts from each function. The objective is to identify and assess material operational risks that could prevent business or support units from achieving their objectives. Once the risks and the internal controls that mitigate them have been assessed, mitigating measures are identified if risk levels are above tolerable. This process integrates specific operational risk reviews that allow for comprehensive and widespread identification of risks, especially technological risks, fraud, supplier risks and factors that could lead to other operational risks and specific regulatory non- compliance. • External events database. This involves quantitative and qualitative information of external operational risk events. The database allows for a detailed and structured analysis of relevant events in the sector, comparing the loss profile and the proper preparation of self-assessment exercises and scenario analysis. • Analysis of operational risk scenarios. Its objective is to identify events with an extremely low probability of occurrence that could generate significant losses for the Bank and establish appropriate mitigation measures through the assessment and expert opinion of the business lines and risk managers. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 210
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued • A statement establishing the Bank's commitment to controlling and limiting non-financial risk events that lead to or could lead to financial losses; fraud events; operational and technological incidents; legal and regulatory breaches; conduct issues, or reputational damage. Although a certain volume of losses is expected, unexpected high-severity losses due to a failure of controls are not acceptable. • Internal audit, external audit and regulators' recommendations. They provide relevant independent information on inherent and residual risk and identify areas for improvement in controls and processes. • Capital model. This is a model that captures the Bank's risk profile, based primarily on information gathered from the internal loss database, external data and scenarios. The main application of the model is to determine the economic capital for operational risk and the estimation of expected and stressed losses, which are used in the operational risk appetite. • Other specific tools to further analyze and manage operational risks include assessing new products and services, managing business continuity plans, and updating the operational risk program's perimeter and quality review processes. The Bank's operational risk management and reporting system support programs and tools focusing on governance, risk and compliance. It provides information for management and reporting and helps improve decision-making in operational risk management by consolidating information, simplifying the process, and avoiding duplication. Operational continuity plan Digital transformation is revolutionizing the way banks operate, presenting new business opportunities while also giving rise to a wide range of emerging risks, such as technology risks, cyber risks and an increasing reliance on suppliers, which increases exposure to events that may affect the delivery of services to our customers. The Bank is highly committed to ensuring robust control of the environment as determined by the best industry standards. This seeks to strengthen our operational resilience to potentially disruptive events, thereby ensuring adequate service delivery to our customers and system stability. One of the main pillars is a business continuity management system aimed at ensuring the continuity of business processes in the event of a disaster or major incident. This process identifies the potential impacts that threaten the entity, supplying the correct protocols and governance to ensure an effective response capability. Its main objectives are: • To protect the integrity of people in a contingency situation. • To ensure that core functions are performed, and the impact on service delivery to our customers is minimized in contingency events. • To meet the Bank's obligations to its employees, customers, shareholders and other stakeholders. • To comply with regulatory obligations and requirements. • To minimize the entity's potential financial losses and impact on the business. • To protect the brand image, credibility and trust in the entity. • To reduce operational effects by providing effective procedures, priorities, and strategies for recovering and restoring business operations following a contingency. • To contribute to stabilizing the financial system. The pandemic challenged the business continuity planning frameworks and strategies. While some protocols had to be adapted, this crisis demonstrated that the Bank has a robust Business Continuity Management system. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 211
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued Relevant mitigation measures The Bank implements and monitors mitigation measures related to the main sources of risk through internal operation risk management tools and other external sources of information. Business transformation and digitalization bring new risks and threats, such as increased payment fraud and origination (credit) fraud. We improved control mechanisms and designed new products to mitigate these risks. Strong authentication processes in the customer enrollment process and the reinforcement of anti-fraud alerts in origination are increasingly widespread resources to mitigate the risk of fraud. In the case of cards, the use of chip and PIN cards in shops and ATMs, two-step authentication with one-time passwords (dynamic verification passwords), reinforced security at ATMs through the incorporation of physical protection and anti-skimming elements, as well as improvements in the logical security of these devices. In the case of Internet banking, verification of online banking transactions with a second security factor of one-time passwords, implementation of specific protection measures for mobile banking, such as identification and registration of customer devices, monitoring of the security of the e-banking platform to prevent attacks on the systems, among others. Cybersecurity Cybersecurity threats are expected to increase. The financial sector is expected to be one of the main targets. With the increased reliance on digital systems, cybersecurity is one of the main non-financial business risks. Therefore, our goal is to make the Bank a cyber-resilient organization that can quickly resist, detect, and respond to cyber-attacks by constantly evolving and improving its defenses. In this area, the Bank continues to develop its control and monitoring framework in line with the best international practices. Outsourcing of services In order to be consistent with our digitization strategy, the Bank aspires to present its customers with the best solutions and products on the market. This implies increasing services provided by third parties and the intensive use of new technologies such as cloud services. In addition, due to increasing cyber risks and regulatory requirements, we have updated and strengthened the supplier management framework, internal control framework and risk culture to ensure that risks associated with third-party procurement are properly assessed and managed. The Bank has identified the suppliers that could present a higher level of exposure to our operations and the services provided to our customers. Accordingly, it has reinforced the monitoring of these suppliers to ensure that: • They have an appropriate control environment, depending on the level of risk of their service. • Business continuity plans are in place to ensure service delivery in case of disruptive events. • They have controls to protect sensitive information processed during the delivery of their services. • Contracts and agreements with third parties include the necessary clauses to protect the interests of the Bank and our clients, while at the same time covering existing legal obligations. • There are exit strategies, including service reversion or migration plans, in the case of services with a strong impact on business continuity and high replacement complexity. Insurance To address operational risk and other risk types generated by the Bank's own operations, insurance has been procured for property damage, general civil liability, fraud, expenses arising from cybersecurity breaches, and third-party claims against executives, among others. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 212
NOTE 47 - RISK MANAGEMENT AND REPORTING, continued Exposure to net loss, gross loss and gross loss recovery due to operational risk event As of March 31, 2026 As of December 31, 2025 Ch$mn Ch$mn Gross loss and expenses for operational risk events in the period Internal fraud 417 1,115 External fraud 7,373 41,496 Labor practices and business security 2,305 4,381 Clients, products and business practices 101 572 Damage to physical assets 62 296 Business interruption and system failures 743 280 Execution, delivery and process management 1,115 7,125 Subtotal 12,116 55,265 Expense recoveries for operational risk events in the period Internal fraud (57) (657) External fraud (1,049) (7,025) Labor practices and business security (117) (922) Clients, products and business practices (29) (481) Damage to physical assets - (1) Business interruption and system failures (1) (6) Execution, delivery and process management (201) (5,003) Subtotal (1,454) (14,095) Net loss from operational risk events 10,662 41,170 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 213
NOTE 48 - INFORMATION ON REGULATORY CAPITAL AND CAPITAL ADEQUACY INDICATORS General Information The Bank provides information on the objectives, policies, and processes for managing capital and regulatory capital, respectively, in accordance with paragraphs 134–136 of IAS 1. Capital Description The Conceptual Framework establishes a concept of Financial Capital and one of Physical Capital. In this regard, the Bank applies the concept of Financial Capital, which translates into the consideration of invested money or invested purchasing power; capital is synonymous with the entity’s net assets or equity. The definition of regulatory capital was changed in December 2021, and is now defined as follows: • Paid-in capital from subscribed and paid common shares of the Bank; • Premium paid for instruments included in this component of capital; • Reserves, whether from earnings or not, from depreciation of perpetual bonds and expiry of perpetual bonds; • Items under “other accumulated comprehensive income”; • Retained earnings from prior periods, profit (loss) for the year, net of provisions for minimum dividends, revaluation of perpetual bonds, and payment of interest and/or dividends on regulatory capital financial instruments issued; • Non-controlling interest as indicated in the CASB. Objectives The Bank’s main objectives in Capital Management include: • Meeting internal capital and capital adequacy goals; • Complying with regulatory requirements; • Aligning the Bank’s strategic plan with the capital expectations of external stakeholders (rating agencies, shareholders and investors, clients, supervisors, etc.); • Supporting business growth and any strategic opportunities that may arise. Policies The Bank has an Asset and Liability Committee (ALCO), which is responsible for supervising, authorizing, establishing policies, and evaluating all aspects related to capital and solvency. The Board of Directors has delegated to ALCO the oversight and assessment of capital levels and returns consistent with the Bank’s strategy. The Integral Risk Committee (IRC) monitors and is responsible for the primary and secondary metric limits based on the risk appetite. Additionally, the Bank has developed the necessary policies to support the management and fulfillment of capital management strategies and objectives, including: - Capital Adequacy Policy; - Capital Planning Policy; - Policy for Managing Capital Deterioration Situations; - Capital Monitoring Policy; - Dividend Policy and Basel III Implementation. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 214
NOTE 48 - INFORMATION ON REGULATORY CAPITAL AND CAPITAL ADEQUACY INDICATORS, continued Capital Management Processes Capital is managed in accordance with the risk environment, Chile’s economic performance, and the economic cycle. The relevant Committee may adjust our current capital policies to address changes in the aforementioned risk environment. Capital management is based on a Capital Framework aimed at ensuring that the level, structure, and composition of capital are adequate at all times, considering the Bank's risk profile and various scenarios. This framework ensures compliance with both minimum regulatory requirements and the Bank’s risk appetite and Recovery Plan, aligning with the interests of all stakeholders and supporting the growth strategy defined by the Bank. The capital model defines the functional and governance aspects related to capital planning, budget execution and monitoring, capital adequacy analysis, capital measurement, and capital-related reporting and disclosure. This model covers the main capital management activities: 1. Setting solvency and capital contribution targets aligned with minimum regulatory requirements and internal policies, to ensure a solid capital level consistent with the Bank's risk profile, and efficient use of capital to maximize shareholder value. 2. Developing a capital plan to meet these objectives in line with the strategic plan. 3. Assessing capital adequacy to ensure the capital plan aligns with the Bank’s risk profile and risk appetite (including stress scenarios). 4. Developing the capital budget as part of the Bank’s budgeting process. 5. Monitoring and controlling budget execution and developing action plans to correct any deviations from the budget. 6. Calculating capital metrics. 7. Preparing internal capital reports, as well as reports for supervisory authorities and the market. Compliance with Capital Management Objectives The Bank continuously evaluates its risk-return ratios through its core capital, effective equity, economic capital, and return on capital. Regarding capital adequacy, the Bank conducts its internal process based on the FMC standards in effect since December 1, 2021 (Basel III). Economic capital refers to the capital required to support all the risk arising from business activities at a given level of solvency. The monitoring and oversight of capital metrics and their limits are carried out by the ALCO, which also evaluates capital levels and risk appetite on a monthly basis, in addition to monitoring the solvency ratio “Regulatory Capital / Risk-Weighted Assets,” which, as of December 1, 2025, has been monitored on a fully loaded basis, considering capital requirements at 100% enforceability. Quantitative Data on Capital Management The Bank primarily manages its capital by increasing its effective equity through the accumulation of earnings. This approach enables it to maintain a minimum regulatory capital-to-risk-weighted-assets ratio of 16.38%, which is 3.75% percentage points above the required minimum External Requirements Minimum Required Capital According to the General Banking Law, as amended by Law 21,130, a bank must maintain a minimum of UF 800,000 (approximately Ch$31,873 million or US$34 million as of March 31, 2026) in paid-in capital and reserves, calculated in accordance with FMC regulations. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 215
NOTE 48 - INFORMATION ON REGULATORY CAPITAL AND CAPITAL ADEQUACY INDICATORS, continued Capital regulatory framework and updates According to the new General Banking Law (as updated by Law 21,130), the minimum capital requirements have increased both in amount and quality. The total regulatory capital remains at 8% of risk-weighted assets, but now includes credit, market, and operational risks. The minimum Tier 1 capital requirement has increased from 4.5% to 6% of risk-weighted assets, of which up to 1.5% can consist of Additional Tier 1 (AT1) capital—such as preferred shares or perpetual bonds, which may be convertible into common shares. Tier 2 capital is now set at 2% of risk-weighted assets. Chapter 21-1 of the UCBR defines the components of regulatory equity. Additional capital requirements are incorporated through a capital conservation buffer of 2.5% of risk-weighted assets (UCBR 21-12). Furthermore, the Central Bank, subject to prior agreement with the FMC, may establish an additional countercyclical buffer of up to 2.5% of risk-weighted assets, in accordance with FMC regulations (UCBR 21-12). Both buffers must be composed of Common Equity Tier 1 capital. In addition, the FMC has been authorized—subject to the favorable agreement of the Board of the Central Bank of Chile to define, through regulation, new methodologies for calculating risk-weighted assets for credit risk (UCBR 21-6), market risk (UCBR 21-7), and operational risk (UCBR 21-8); the conditions for issuing hybrid AT1 instruments; the determination of capital charges for domestic systemically important banks; prudential deductions from regulatory capital; and to require additional measures, including higher capital, for banks that exhibit deficiencies in the supervisory capital assessment process (Pillar II). Pillar II aims to ensure that banks maintain a level of capital consistent with their risk profile and to promote the development and use of sound risk monitoring and management processes. To this end, banks are responsible for developing an internal capital adequacy assessment process, and supervisors must review banks’ strategies and internal assessments and intervene at an early stage if they are not satisfied with the outcome of this process. Supervisors may require additional capital above the minimum required to ensure a sufficient level to withstand risks, particularly during adverse credit cycles According to the General Banking Law, banks must maintain a regulatory capital of at least 8% of risk-weighted assets, net of required credit losses, and a requirement for paid-in capital and reserves ("core capital") of at least 3% of total assets, also net of credit losses. Regulatory capital is defined as the aggregate of: • The bank’s paid-in capital and reserves, excluding capital attributable to subsidiaries and foreign branches, or core capital; • Perpetual bonds and preferred shares referred to in Article 55 bis of the GBL, issued by the bank and valued at the issuance price, up to one-third of its core capital; • Subordinated bonds, valued at their issuance price, with a 20% annual reduction starting six years before maturity, up to 50% of its core capital; and • Additional provisions for credit losses, up to 1.25% of credit risk-weighted assets. On April 1, 2025, the FMC announced the annual classification of systemically important banks and established corresponding requirements. In this announcement, the Commission’s board approved Resolution No. 3,143, which maintains the classification for another year, thereby sustaining the requirement for an additional 1.5% core capital charge for the Bank. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 216
NOTE 48 - INFORMATION ON REGULATORY CAPITAL AND CAPITAL ADEQUACY INDICATORS, continued On March 30, 2026, the FMC reported on the annual rating of systemically important banks and established requirements. The statement indicated that the board approved Resolution No. 3,399 regarding this rating, thus maintaining, for another year, the requirement for an additional 1.5% core capital charge for the bank. On January 16, 2026, the FMC reported on the application of the capital requirement under Pillar II. The statement indicated that the board approved Exempt Resolution No. 862 regarding this application, which stipulates that the Bank must maintain the additional capital requirement of 0.25%, applicable at the 50 percent level it has maintained since June 30, 2025. The Board of the Central Bank of Chile, at its Financial Policy Meeting (FPM) held on November 19, 2024, agreed to maintain the Countercyclical Capital Buffer (CCyB) at 0.5% of risk-weighted assets, which had been activated on May 24, 2023, as a precautionary measure in response to external financial uncertainty. This indication remains unchanged as of the close of March 2026. Compliance with external requirements Regulatory capital and core capital are calculated based on the Interim Consolidated Financial Statements prepared in accordance with the CASB issued by the FMC. As a result of the merger between two predecessor institutions with a significant market share in the Chilean financial market, our current minimum regulatory requirement consists of a minimum regulatory capital-to-risk- weighted assets ratio of 12.63%, As of the reporting date, the Bank maintains a regulatory capital-to-risk-weighted assets ratio of del 16.38%. Period-to-period changes Schedule of changes to minimum capital requirements: March 31, 2026 December 31, 2025 % % Requirements Pillar II charge 0.13% 0.13% Systemic Charge 1.50% 1.50% Counter-cyclical Capital buffer 0.50% 0.50% Capital Conservation 2.50% 2.50% Tier T2 2.00% 2.00% AT1 1.50% 1.50% CET1 4.50% 4.50% Total 12.63% 12.63% As of December 1, 2025, the regulatory adjustments and exclusions set forth in UCBR 21-1 increased from a 65% to a 100% deduction, in accordance with the transitional provisions, thereby completing the phased implementation process of Basel III. Other Announcements and Statements Pillar III promotes market discipline and financial transparency through the disclosure of meaningful and timely information. This enables users to better understand the risk profile and capital structure of local banking institutions, thereby reducing information asymmetries. On July 8, 2025, the FMC published Circular No. 2,365 - Adjustments to Chapter 21-13 of the UCBR for the determination of additional regulatory capital requirements for banking entities, as a result of the supervisory process known as Pillar II of Basel III. The new regulatory adjustments published introduce improvements to Chapter 21-13 of the UCBR , with the objective of facilitating the supervisory process and clarifying some aspects of the capital evaluation process. The adjustments will be incorporated partially, with an initial application starting with the reports reported in December 2025 and will finalize in the review of the ICAAP, which will be delivered in April 2027. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 217
NOTE 48 - INFORMATION ON REGULATORY CAPITAL AND CAPITAL ADEQUACY INDICATORS, continued Total assets, risk-weighted assets and components of regulatory capital Item No Total assets, risk-weighted assets and components of regulatory capital under Basel III Comprehensive consolidated results As of March 31, 2026 As of December 31, 2025 Ch$mn Ch$mn 1 Total assets according to the statement of financial position 69,896,903 68,094,956 2 Investment in unconsolidated subsidiaries a - - 3 Assets discounted from regulatory capital, other that item 2 b 11,295,944 11,233,907 4 Credit equivalents c 5,227,249 4,639,857 5 Contingent loans d 2,768,945 2,804,045 6 Assets arising from the intermediation of financial instruments e 380,895 83,086 7 = (1-2-3+4+5-6) Total assets for regulatory purposes 66,216,258 64,221,865 8.a Credit risk-weighted assets, estimated according to standardized methodology (CRWAs) f 30,528,480 29,551,588 8.b Credit risk-weighted assets, estimated according to internal methodologies (CRWAs) f - - 9 Market risk-weighted assets (MRWAs) g 8,181,184 7,143,966 10 Operational risk-weighted assets (ORWAs) h 5,050,630 5,019,913 11.a =(8.a/8.b+9+10) Risk Weighted Assets (RWAs) 43,760,294 41,715,467 11.b = (8.a/8.b+9+10) Risk-weighted assets, after application of the output floor (RWAS) 43,760,294 41,715,467 12 Shareholders' equity 4,739,336 4,719,697 13 Non-controlling interest i 154,485 119,942 14 Goodwill j - - 15 Excess of minority investments k - - 16 = (12+13-14-15) Common equity tier 1 (CET1) equivalent 4,893,821 4,839,639 17 Additional deductions to Common Equity Tier 1, other than item 2 l 136,793 237,716 18 = (16-17-2) Common Equity Tier 1 (CET1) 4,757,028 4,601,923 19 Voluntary (additional) provisions allocated as Additional Tier 1 capital (AT1) m - - 20 Subordinated bonds imputed as Additional Tier 1 capital (AT1) m - - 21 Preferred shares imputed to Additional Tier 1 capital (AT1) - - 22 Perpetual Bonds imputed to Additional Tier 1 capital (AT1) 648,694 629,468 23 Discounts applied to AT1 l - - 24 = (19+20+21+22-23) Additional Tier 1 capital (AT1) 648,694 629,468 25 = (18+24) Tier 1 capital 5,405,722 5,231,391 26 Voluntary (additional) provisions imputed as Tier 2 capital (T2) n 156,098 179,098 27 Subordinated bonds imputed as Tier 2 capital (T2) n 1,604,137 1,636,832 28 = (26+27) Equivalent Tier 2 capital (T2) 1,760,235 1,815,930 29 Discounts applied to T2 l - - 30 = (28-29) Tier 2 capital (T2) 1,760,235 1,815,930 31 = (25+30) Regulatory capital 7,165,957 7,047,321 32 Additional core capital required to build up the conservation buffer p 1,094,007 1,042,887 33 Additional core capital required for the constitution of the cyclical buffer q 218,801 208,577 34 Additional core capital required for systemically rated banks r 656,404 625,732 35 Additional capital required for the assessment of the adequacy of regulatory capital (Pillar II) s 54,700 52,144 Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 218
NOTE 48 - INFORMATION ON REGULATORY CAPITAL AND CAPITAL ADEQUACY INDICATORS, continued a. Refers to the value of investments in subsidiaries that are not consolidated. This applies only under local consolidation when the bank has foreign subsidiaries, with their value fully deducted from assets and CET1. b. Refers to the value of asset items that are deducted from regulatory capital, in accordance with section (a) of Title No. 3 of Chapter 21-30 of the UCBR. c. Refers to credit equivalents of derivative instruments, as per section (b) of Title No. 3 of Chapter 21-30 of the UCBR. d. Refers to contingent exposures, as established in section (c) of Title No. 3 of Chapter 21-30 of the UCBR. e. Refers to assets related to the intermediation of financial instruments on the bank’s own behalf for third parties, which are within the bank’s consolidation perimeter, as outlined in section (d) of Title No. 3 of Chapter 21-30 of the UCBR. f. Refers to credit risk-weighted assets, estimated according to Chapter 21-6 of the UCBR. If the bank is not authorized to use internal methodologies, it must report field 8.b as zero and include 8.a in field 11.a. If it is authorized, 8.b should be added to 11.a. g. Refers to market risk-weighted assets, as estimated under Chapter 21-7 of the UCBR. h. Refers to operational risk-weighted assets, estimated under Chapter 21-8 of the UCBR. i. Refers to non-controlling interest, based on the level of consolidation, up to 20% of shareholders’ equity. j. Refers to assets classified as goodwill. k. Refers to asset balances from investments in non-core business entities not included in consolidation, in excess of 5% of owners’ equity. l.For CET1 and T2, banks must estimate the equivalent value for each capital level as well as the fully applied value according to Chapter 21-1 of the UCBR. The difference between the equivalent and fully applied value must be weighted by the discount factor in effect at the reporting date, as per the transitional provisions in Chapter 21-1 of the UCBR. For AT1, any applicable discounts are applied directly. m. Provisions and subordinated bonds assigned to Additional Tier 1 capital (AT1), as defined in Chapter 21-2 of the UCBR. n. Provisions and subordinated bonds assigned to the equivalent definition of Tier 2 capital (T2), as set out in Chapter 21-1 of the UCBR. o. In accordance with transitional provisions, starting December 1, 2022, solvency requirements are also applied at the local consolidated level. Data at this level should be reported in this column. Banks without foreign subsidiaries should not complete these fields. p. Refers to additional core capital (CET1) for the creation of the capital conservation buffer, as established in Chapter 21-12 of the UCBR. q. Refers to additional core capital (CET1) for the establishment of the countercyclical buffer, per Chapter 21-12 of the UCBR. r. Refers to additional core capital (CET1) for banks classified as systemically important, according to Chapter 21-11 of the UCBR. s. Refers to additional capital for assessing the adequacy of effective equity (Pillar II), in accordance with Chapter 21-13 of the UCBR. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 219
NOTE 48 - INFORMATION ON REGULATORY CAPITAL AND CAPITAL ADEQUACY INDICATORS, continued Solvency indicators and regulatory compliance indicators according to Basel III N° Item Solvency indicators and Basel III compliance indicators Consolidated results As of March 31, 2026 As of December 31, 2025 (in % with two decimals) (*) % % 1 Leverage indicator 7.18% 7.17% 1.a Leverage indicator to be met by the bank, considering the minimum requirements. a 3.00% 3.00% 2 Core capital indicator 10.87% 11.03% 2.a Indicator of core capital to be met by the bank, considering the minimum requirements. a 6.08% 6.08% 2.b Capital buffer deficit b –% –% 3 Tier 1 capital indicator 12.35% 12.54% 3.a Tier 1 capital indicator to be met by the bank, considering the minimum requirements. a 7.60% 7.60% 4 Regulatory capital indicator 16.38% 16.89% 4.a Regulatory capital indicator that the bank must meet, considering the minimum requirements. a 9.63% 9.63% 4.b Regulatory capital indicator to be met by the bank, considering the Article 35 bis charge, if applicable b –% –% 4.c Regulatory capital indicator to be met by the bank, considering minimum requirements, conservation buffer and countercyclical buffer c 12.63% 12.63% 5 Solvency rating d A A Compliance indicators for solvency 6 Voluntary (additional) provisions charged to Tier 2 capital (T2) concerning CRWAS e 0.51% 0.61% 7 Subordinated bonds imputed in Tier 2 capital (T2) relative to core capital. f 33.72% 35.57% 8 Additional Tier 1 capital (AT1) in relation to core capital g 13.64% 13.68% 9 Voluntary (additional) provisions and subordinated debentures that are imputed to Additional Tier 1 (AT1) capital concerning RWAs h –% –% Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 220
NOTE 48 - INFORMATION ON REGULATORY CAPITAL AND CAPITAL ADEQUACY INDICATORS, continued a. In the case of the leverage ratio, the minimum level is 3%, without prejudice to any additional requirements for systemically important banks that may be established pursuant to Chapter 21-30 of the UCBR. In the case of Common Equity Tier 1 capital, the Bank must maintain a minimum requirement equivalent to 4.5% of risk-weighted assets (RWA). In addition, the Bank applies the applicable systemically important bank surcharge of 1.5% and the Pillar II requirement of 0.08%. In the case of Tier 1 capital, the Bank must maintain a minimum requirement of 6%, plus the 1.5% systemically important bank surcharge and the Pillar II requirement of 0.01%. Finally, at the total regulatory capital level, the Bank must maintain a minimum requirement equivalent to 8% of RWA, plus the 1.5% systemically important bank surcharge and the Pillar II requirement of 0.13%. b. The capital buffer shortfall must be estimated in accordance with the provisions of Chapter 21-12 of the UCBR. This value determines the restriction on dividend distributions, if positive, pursuant to the provisions of the aforementioned Chapter. In the case of total regulatory capital, the capital conservation buffer of 2.5% and the countercyclical buffer of 0.5% must also be added. c. If the Bank is subject to an effective capital requirement pursuant to Article 35 bis of the General Banking Law, it must disclose such amount in this cell in accordance with the transitional provisions. d. Corresponds to the solvency classification established under Article 61 of the General Banking Law. e. Limit of 1.25%; the Bank uses standardized methodologies (field T1_8.a) in the estimation of credit risk-weighted assets (CRWA). f. Subordinated bonds recognized as Tier 2 capital may not exceed 50% of Common Equity Tier 1 capital (CET1), considering the deductions applied to these instruments pursuant to Chapter 21-1 of the UCBR. g. Additional Tier 1 capital (AT1) may not exceed one-third of Common Equity Tier 1 capital. h. Additional provisions and subordinated bonds could be temporarily recognized as AT1 capital through November 2023 for up to 1% of RWA, effective from December 1, 2021. This amount decreased annually by 0.5% in accordance with the transitional provisions of Chapter 21-2 of the UCBR. Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 221
NOTE 49 - SUBSEQUENT EVENTS Bond Issuances The bank has placed the following bonds on the local market: Series Currency Rate Issue date Amount BSTDA40922 CLP 5.93 % 04-13-2026 $10,000,000,000 BSTDBG0125 CLP 5.83 % 04-15-2026 $12,800,000,000 BSTDBG0125 CLP 5.83 % 04-16-2026 $14,000,000,000 Shareholder's Meeting At the Ordinary Shareholders’ Meeting of Banco Santander-Chile held on April 28, 2026, together with the approval of the 2025 consolidated financial statements, shareholders approved the distribution of 60% of the net income for the year (“Profit attributable to equity holders of the Bank”), which amounted to Ch$1,053,209 million. These earnings represented a dividend of Ch$3.533346317 per share, for a total distribution of Ch$631,925 million. Likewise, it was approved that the remaining 40% be allocated in part to increase Retained Earnings from prior years in the amount necessary to cover the payment of the next three interest coupons on perpetual bonds, totaling Ch$29,904 million, and to increase the Bank’s Reserves and Other Retained Earnings by Ch$391,380 million. At the aforementioned Ordinary Shareholders’ Meeting, PricewaterhouseCoopers Consultores Auditores was also approved as the Bank’s external auditors for fiscal year 2026. Additionally, the following principal directors were elected: Rodrigo Vergara Montes (Independent), Orlando Poblete Iturrate (Independent), Félix de Vicente Mingo (Independent), Blanca Bustamante Bravo (Independent), José Francisco Doncel Razola, Mónica López-Monis Gallego, Gloria Hutt Hesse (Independent), María Francisca Yañez Castillo (Independent), and Juan Benavides Feliú (Independent). Meanwhile, Alfonso Gómez and Juan Pedro Santa María were appointed as alternate directors, both in an independent capacity. Consolidated Financial Statements As of April 28, 2026, these Interim Consolidated Financial Statements were approved by the Board of Directors. There are no other subsequent events that occurred between April 1, 2026, and the issuance date of these Interim Consolidated Financial Statements (April 28, 2026) that need to be disclosed. JONATHAN COVARRUBIAS H. Chief Accounting Officer ANDRÉS TRAUTMANN BUC Chief Executive Officer Banco Santander-Chile and Affiliates NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2026, and 2025, and as of December 31, 2025 Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 222
Interim Consolidated Financial Statements March 2026 / Banco Santander-Chile 223