FY 2016 Results – Treasurer’s view Solid capital and liquidity metrics maintained Increasing focus on balance sheet optimisation Lower capital requirements reflect strategic progress 13% target CET1 ratio maintained Our issuance needs are evolving to reflect our strategic progress and future structure  Target £3-5bn Senior HoldCo issuance  No active need for AT1 or Tier 2 in 2017  Progressive return to funding markets 55