Investor Presentaiton

18 Profitability supported by diversified revenue streams Annuity income 1 (£'mn) Costs and cost to income ratio (£'mn) £'mn Annuity income 2011: 51% Annuity income 2022: 74% 900 100% 800 80% 81% 80% 15% 700 78% 76% 71% 17% 12% 600 60% 500 22% 29% 14% 400 40% 300 200 20% 44% 37% 100 Mar 2011 ■Net interest income ■Other fees and other operating income ■Investment and associate income Mar 2022 Annuity fees and commissions ■Trading income Solid recurring income base (FY22: 74%) comprising net interest income and annuity fees, which has been enhanced by growth in our wealth management business Diversified, quality revenue mix: Lending franchises driving net interest income - 44% of revenue Wealth & Investment and lending franchises generating sound level of fees Investment income a much low er proportion of total revenue Capital light activities = 47% of revenue. 0% 2018 2019 2020 2021 2022 Operating costs Cost to income ratio Focused on managing costs while building for the future Private Banking business now in leverage and grow th phase, with prior years' significant investment fully expensed Continue to leverage technology and existing capabilities to improve client experience and reduce costs FY22 operating costs were broadly flat. The reduction in fixed costs was offset by an increase in variable remuneration in line with business performance. The prior year base included one-off costs associated with the implementation of restructures as part of the strategy to simplify and focus the business, including related redundancies and the closure of operations in Australia The FY22 cost to income ratio of 71.3% improved as a result of cost discipline and higher revenue grow th 1 Where annuity income is net interest income and annuity fees; and capital light income is fees and other operating income.

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