Three core businesses generating stable and attractive returns (1,2) (%) 11% 11% Core Adjusted Return on Equity 4.1 4.2 Core Adjusted operating profit(2) (£bn) 1.2 1.2 1.1 1.0 1.0 1.3 1.0(3) 0.8(3) 0.5 0.8 Q1’15 Q2’15 Q3’15 Q4’15 FY 2015 Q1’16 Q2’16 Q3’16 Q4’16 FY 2016  Core businesses averaged >£1bn operating profit for last 8 quarters (1) RBS’s CET1 target is 13% but for the purposes of computing segmental return on equity (RoE), to better reflect the differential drivers of capital usage, segmental operating profit after tax and adjusted for preference dividends is divided by notional equity allocated at different rates of 11% (Commercial Banking and Ulster Bank RoI), 12% (RBS International) and 15% for all other segments, of the monthly average of 53 (2) segmental risk-weighted assets after capital deductions (RWAes). Excluding own credit adjustments, gains/(losses) on redemption of own debt and strategic disposals. Excluding restructuring costs and litigation (3) and conduct costs and goodwill. Excluding the impact of the Bank Levy. Note: totals may not cast due to rounding.