Investor Presentaiton

Consistent asset growth, gearing ratios remain low 20 £'bn 30 25 Total assets composition 5.6 6.9 20 5.1 5.1 6.9 15 6.0 7.0 5.8 10 10 Gearing remains low times 12 27.9 4.6 10 8.9 8 6 4 14.4 11.9 12.3 LO 5 10.5 9.7 2 2018 2019 2020 Net core loans Cash and near cash balances 2021 10.4 5.4 0 2022 2018 2019 2020 2021 2022 Other assets ■Total gearing ratio ■Core loans to equity ratio Our net core loans have grown steadily (CAGR of 10.5% since 2018) Good growth in cash and near cash balances (CAGR of 11.1% since 2018) We have maintained low gearing ratios¹ with total gearing at 10.4x and an average of 9.9x since 2018 Gearing ratio calculated as total assets divided by total equity.

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