Fiscal Policy > Monetary Policy = Boost to Economic Growth

Resilient mortgage book with customers proactively locking in rates

Collaborations' importance confirmed, with awareness reaching ~90% of True-Luxury consumers

CC&P Q423 RoTE decline driven by impairment build

United States: Inflation

In 2050, over 50% of the world's population will live in water stressed areas – A huge risk to predicted growth for developing economies

EXHIBIT 7 Each region cites a different number one threat, but there is a broad consistency in what is top-of-mind across the world

Sources of earnings growth and profit margins

TMT was the leading sector in transaction volume in 2023, however these are usually smaller sized deals; Oil, Gas, Energy & Mining and Industrial & Chemical Products are prominent higher value deals