Material Event Form 8 K

Item 1.01. Entry into a Material Definitive Agreement.

On October 16, 2024, Santander Drive Auto Receivables LLC ("Santander Drive") and Santander Consumer USA Inc. ("SC") entered into an Underwriting Agreement (the "Underwriting Agreement") with Wells Fargo Securities, LLC, on behalf of itself and as representative of the several underwriters (collectively, the "Underwriters"), for the sale of the following notes to be issued by Santander Drive Auto Receivables Trust 2024-5 (the "Issuer"): the Class A-2 4.88% Auto Loan Asset Backed Notes, the Class A-3 4.62% Auto Loan Asset Backed Notes, the Class B 4.63% Auto Loan Asset Backed Notes, the Class C 4.78% Auto Loan Asset Backed Notes and the Class D 5.14% Auto Loan Asset Backed Notes (collectively, the "Publicly Registered Notes"). The Publicly Registered Notes have been registered pursuant to the Securities Act of 1933, as amended, under a Registration Statement on Form SF-3 (Commission File No. 333-261901). The Issuer will initially retain the Class A-1 4.929% Auto Loan Asset Backed Notes (the "Retained Notes" and together with the Publicly Registered Notes, the "Notes"). It is anticipated that the Notes will be issued on October 29, 2024 (the "Closing Date").

Attached as Exhibit 1.1 is the Underwriting Agreement.