Financial Performance Update H1'23

Net operating income up 13% on the back of revenue growth and further efficiency improvements Net operating income (£ mn) + 631 617 613 610 564 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Santander H1'23 H1'22 YoY (%) QoQ (%) Total income 2,417 2,218 9.0 0.1 Operating Expenses (1,195) (1,136) 5.2 0.7 Net operating income 1,223 1,082 12.9 -0.5 Efficiency ratio 49.4% 51.2% -1.8pp 17

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