Investor Presentaiton

Costs Operating expenses trend, $m +1% +3% 7,821 7,927 9,029 7,644 588 -716- 1,219, 63 7,871 10 2022 3022 4022 1023 2023 o/w notable items 2023 vs. 2022 (constant currency), $m +1% 262 (208) 96 67 (578) 202 7,821 209 7,871 2022 Notable items Severance costs PRP Tech spend 14 Software Innovation Other* and lease Banking 2Q23 (primarily impairment CTA) write backs * Includes $92m for the FX re-translation of 2022 costs in hyperinflationary economies Strategy 2023 results Appendix Constant currency basis: 2Q23 constant currency costs of $7.9bn, up 1% vs. 2022. Lower notable items and impairment write- backs were offset by higher technology spending, higher performance-related pay accrual and severance costs Target basis: Continue to target c.3% cost growth in FY231. Reconciliation on slide 26. On this basis: 2023 costs up 6% vs. 2022, of which the severance costs flagged at 4Q22 accounted for 2.8ppts YTD costs up 4% vs. 1H22, of which severance costs accounted for 1.4ppts Expect the acquisition of SVB UK and related international investments to increase costs by an additional 1% 17

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