Sainsbury's Credit Presentation Deck

Strategic cost reduction 10 Reduce retail operating costs/ sales % by 200 bps+ £m Retail op. costs/ sales% 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 Cost savings, £m Op. costs/ sales, % 2023/24 Accelerated cost saving plans Addressing inflationary cost pressures and volume related increases ● ● ● ● Save to Invest Meeting increased groceries online demand Creating additional annualised capacity creating firepower to invest in the offer and drive returns Key programmes underway

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