Capturing Performance Improvement Opportunities

3. EFFICIENCY & SIMPLIFICATION Sustainable cost efficiency to improve competitiveness and resilience Key drivers Right-sizing the organisation ■ Reduction of 2,000-2,500 roles proposed worldwide ■ Focus on efficiency, simplification and enterprise-wide synergies to create a more agile business £200m annual benefits Procurement Excellence ■ ~£1bn procurement interventions ■ Consolidation of Group spend, leverage scale and develop consistent best-in-class standards Zero-based budgeting ■ 10-15% reduction in targeted areas Total Cash Cost / Gross Margin (TCC/GM) 0.8x (40-50% 04-05x 2022 2023 Mid-term 11

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