Financial Performance Update H1'23

Operating expenses impacted by high inflation but partly offset by transformation programme savings (-5% YoY in real terms) Operating expenses (£ mn) 589 595 599 574 565 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Santander H123 H1'22 YoY (%) QoQ (%) Operating Expenses 1,195 1,136 5.2 0.7 Branches (#) 445 450 -1.1 -0.2 Employees (#) 22,163 20,320 9.1 1.4 16

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