Barclays H1 2022 Results

Pension deficit reduction contributions • Potential acceleration of CET1 ratio headwinds from pension reduction contributions During 2019 and 2020, the UK Retirement Fund (UKRF), the Group's main pension scheme, subscribed for non-transferable listed senior fixed rate notes for £1.25bn. As a result of these transactions, the CET1 impact of the 2019 and 2020 deficit contributions was deferred until 2023, 2024 and 2025 upon maturity of the notes Following the PRA's statement on 13 April 2022, Barclays is planning to unwind these transactions and to agree the terms and timing of this unwind with the UKRF Trustee as part of the next triennial actuarial valuation as at 30 September 2022. Upon unwind, this would result in a c.30bps reduction to the CET1 ratio potentially being accelerated to Q422 from 2023, 2024 and 2025 As at 30 June 2022, the UKRF was in an accounting surplus of £5.2bn on an IAS19 basis and as at 30 September 2021 was in a funding surplus of £0.6bn There may also be a pension related reduction in Pillar 2A requirements in 2022 which could partially mitigate the impact of the unwind on the Group surplus capital position Capital impact schedule per FY21 results Potential accelerated capital impact schedule Capital impact of deficit reduction contributions (£bn) Sum 2022 2023 2024 2025 2022 2023 2024 2025 2022-25 Sum 2022-25 Based on 2019 Triennial valuation (0.3) (0.3) (0.6) (0.3) (0.3) (0.6) Dec-2019 £500m Senior Notes 1 (0.5) (0.5) (0.5) (0.5) Jun-2020 £750m Senior Notes 1 Capital impact (pre-tax) (0.3) (0.25) (0.25) (0.25) (0.75) (0.55) (0.75) (0.25) (0.75) (0.75) (1.85) (1.55) (0.3) (1.85) Capital impact (pre-tax bps) - based on Jun-22 RWAs (9)bps (16)bps (22)bps (7)bps (54)bps (45)bps (9)bps I (54)bps Capital impact (approximate post-tax c.(40)bps bps) based on Jun-22 RWAS 1 During 2019 and 2020 the UKRF subscribed for non-transferable listed senior fixed rate notes for £1,250m, backed by UK gilts (the Senior Notes) | 45 | Barclays H1 2022 Results | 28 July 2022 BARCLAYS

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