Full Year Results Presentation

Administrative expenses Financial Year to 31 March Personnel costs Share scheme costs Other administrative expenses Total Capitalised costs Total administrative expenses On a proportionally consolidated basis including the Group's share of Joint ventures and Funds and excluding non-controlling interests in the Group's subsidiaries. 2020 £m 2021 £m 50 48 (3) 2 33 33 31 80 81 (6) (7) 74 74 60 60

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