Shareholder Event

Today's presentation Ambition to be #1 for customer service, trust and advocacy Strategy working – strong execution against 2014 targets 2014 creates the platform to go further, faster on strategy: ■Further reshaping of CIB ■CET1 ratio target raised to 13% for the period of CIB restructuring ■ Citizens deconsolidation and RCR completion targeted by end 2015 ■ Higher cost reduction targets Simplify the bank for customers and colleagues Significant net capital benefits from acceleration of strategy with intent to distribute capital above CET1 target ratio (1) Strong returns from a lower risk banking franchise (1) Subject to PRA approval. *RBS

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