Barclays Plc · LSE:BARC
Barclays — Debt Investor Presentation (February 2026)
27 slides from Barclays's debt investor presentation, Feb 10, 2026
Slide 1: FY 2025 Fixed Income Call
FY 2025 Fixed Income Call 10th February 2026
Slide 2: Anna Cross, Group Finance Director
Anna Cross Group Finance Director
Slide 3: We achieved all 2025 financial guidance
We achieved all 2025 financial guidance Barclays FY 2025 Results February 2026 3 Targets Q425 actuals FY25 actuals 2025 guidance Statutory RoTE 8.5% 11.3% >11% (Feb 25 guidance: c.11%) £1.8bn £3.7bn Progressive increase Total payout Dividend: £0.8bn Dividend: £1.2bn Buyback: £1.0bn Buyback: £2.5bn
Slide 4: Barclays – a journey to sustainably higher returns
Barclays – a journey to sustainably higher returns Barclays FY 2025 Results February 2026 4 Sustainably higher returns Building foundations Simpler for all-weather RoTE Growth Stabilisation Better 13.1% >14% More 11.3% >12% 10.4% 10.6%1 10.5% balanced 2021 2022 2023 2024 2025 2026 2028 2028+ RoTE (%
Slide 5: Our plan remains constructive for fixed income investors
Our plan remains constructive for fixed income investors Barclays FY 2025 Results February 2026 5 On the path to 2026 and 2028 delivery Income: growth underpinned by more stable income streams 2026 targets 2028 targets 29.1 26.8 25.4 Statutory RoTE >12% >14% 7.6 >5% income Investment banking 7.0 6.3
Slide 6: Strong capital generation supporting unchanged capital priorities
Strong capital generation supporting unchanged capital priorities Barclays FY 2025 Results February 2026 6 Driving organic capital generation (bps)1 Capital priorities Regulatory 1. 13-14% target CET1 capital range >230 >200 Plan to return >£15bn 173 Shareholder 2. 2026-20282 125 141 distributions W
Slide 7: Daniel Fairclough, Group Treasurer
Daniel Fairclough Group Treasurer
Slide 8: Robust capital position with 14.3% CET1 ratio (14.0% rebased)
Robust capital position with 14.3% CET1 ratio (14.0% rebased) Barclays FY 2025 Results February 2026 8 FY25 CET1 ratio movements (34bps) (70bps) 173bps (19bps) 25bps (30bps) 14.3% 14.0% 13.6% FY24 Attributable Dividend Buybacks RWA Other Q425 Q425 announced Q425 rebased profit accrual (FY24, Q225, Q
Slide 9: Guidance on regulatory driven RWA inflation
Guidance on regulatory driven RWA inflation Barclays FY 2025 Results February 2026 9 c.£19-26bn total RWA impact remains unchanged c.£3-10bn Basel 3.1: • FRTB1 impact mostly expected in 2027. Likely to use option to defer elements of FRTB to 20282 c.£3-10bn • Partial offset in Pillar 2A expected on
Slide 10: Operating with a prudent buffer to each tier of capital requirements
Operating with a prudent buffer to each tier of capital requirements Barclays FY 2025 Results February 2026 10 FY25: AT1 and T2 needs managed on a total capital basis Balanced total capital structure • Operating with prudent buffers at each part of the capital stack 20.4% to manage FX and RWA moveme
Slide 11: MREL position well established
MREL position well established Barclays FY 2025 Results February 2026 11 FY25: MREL minimum requirements HoldCo issuance 35.8% (£127.7bn) 30.5% • c.£10bn issuance plan for 2026, following a modest amount of pre- (£108.9bn) funding in 2025 CCyB: 1.0% CCB: 2.5% Senior: 15.4% • MREL issuance plan conti
Slide 12: Prudently managed LCR supported by a highly liquid balance sheet
Prudently managed LCR supported by a highly liquid balance sheet Barclays FY 2025 Results February 2026 12 Average LCR (%)1 Average NSFR (%)2 70% of Liquidity Pool held in cash HTC £30bn 172 175 178 175 170 137 138 135 136 136 135 135 9% 156 161 FVOCI £70bn 21% FY22 FY23 FY24 Q125 Q225 Q325 Q425 FY2
Slide 13: Diverse and stable deposit base of £586bn
Diverse and stable deposit base of £586bn Barclays FY 2025 Results February 2026 13 FY25 deposit balances: Group +£25bn YoY Corporates & SMEs1 Consumer2 Banks3 Investment Bank: International Corporate Bank4 £20bn Barclays UK: Personal Banking £112bn, +£8bn +£7bn £193bn, +£2bn 81% insured Investment
Slide 14: Income: gross structural hedge income expected to grow beyond 2028
Income: gross structural hedge income expected to grow beyond 2028 Barclays FY 2025 Results February 2026 14 14.0 3.8% Income growth allocation3 2025 2026 GBP 7yr 12.0 swap rate1 Barclays UK c.75% c.55% Hedge yield10.0 2 UK Corporate Bank c.10% c.15% 2.5% +c.£1bn Private Bank & Wealth Management c.5
Slide 15: Developing use cases for digital assets
Developing use cases for digital assets Barclays FY 2025 Results February 2026 15 Innovating to lead future solutions • Investigating tokenised deposits to enable new functionality and speed up transactions Tokenisation Piloting live transactions • Exploring tokenised bonds, repo, and collateral to
Slide 16: Targeting Barclays PLC to be “A” composite across all indices over time
Targeting Barclays PLC to be “A” composite across all indices over time Barclays FY 2025 Results February 2026 16 All ratings affirmed in 2025 Current Senior long and short term ratings • HoldCo Senior composite “A” rated for two of four Moody’s Standard & Poor’s Fitch indices1 • One further upgrade
Slide 17: Q&A
Q&A
Slide 18: Appendix
Appendix
Slide 19: CET1 ratio in relation to our minimum requirements
CET1 ratio in relation to our minimum requirements Barclays FY 2025 Results February 2026 19 Q425: CET1 minimum requirements MDA 12.2% CCyB 1.0% CCB 2.5% • Have been operating around the top end of our 13-14% CET1 target range • Returns and distributions targets based on operating around this level
Slide 20: Group RWAs decreased by £0.6bn quarter on quarter
Group RWAs decreased by £0.6bn quarter on quarter Barclays FY 2025 Results February 2026 20 Risk weighted assets (£bn) IB % of Group: 58% 56% 56% 55% (0.9)1 1.4 0.2 (2.4) 1.7 (0.4) 358.1 357.4 356.8 342.7 Q423 Q424 Q325 Barclays UK UK Corporate Private Bank & Investment US Consumer Head Office Q425
Slide 21: Leverage ratio above regulatory requirements
Leverage ratio above regulatory requirements Barclays FY 2025 Results February 2026 21 Q425: leverage minimum requirements Reg Min 4.08% CCLB 0.30% G-SII 0.53% 5.1% 4.7% BoE minimum leverage 3.25% requirement UK Leverage requirement UK spot UK average
Slide 22: c.£10bn issuance plan for 2026
c.£10bn issuance plan for 2026 Barclays FY 2025 Results February 2026 22 2025 HoldCo benchmark Annual HoldCo issuance volume (£bn) and currency1,2 issuance Jan-25: GBP 0.75bn 16.1 15.0 15.1 Senior 14.1 Feb-25: USD 1.5bn c.10 11.0 plan AT1 8.6 11.2 Feb-25: USD 5.0bn multi-tranche 7.8 10.7 9.8 11.8 Se
Slide 23: Performance of the structural hedge over time
Performance of the structural hedge over time Barclays FY 2025 Results February 2026 23 The structural hedge smooths income and protects against sharp downwards movement in interest rates 7% 6% 5% 4% 3% 2% 1% 0% -1% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Slide 24: Low-interest rate sensitivity
Low-interest rate sensitivity Barclays FY 2025 Results February 2026 24 Illustrative -25bps interest rate sensitivity1 Year 1 Year 2 Year 3 • Illustrative Group income impact from a 25bps downward parallel shift in interest rate curves Swap rates £(50)m £(140)m £(240)m • The sensitivity is calculate
Slide 25: Risk transfer transactions enhance Barclays’ risk management capabilities
Risk transfer transactions enhance Barclays’ risk management capabilities Barclays FY 2025 Results February 2026 25 Purpose Q425: Barclays transfers c.£54bn1 risk via a variety of structures • The banking book has inherent credit Corporate • Credit linked notes (CLNs) sold to investors risk, driving
Slide 26: Risk transfer activities focused on corporate loans and credit cards
Risk transfer activities focused on corporate loans and credit cards Barclays FY 2025 Results February 2026 26 Q425: Corporate loans Q425: US credit cards • Colonnade programme established in 2016 • Initiated risk transfer in Q124 to help optimise • Deployed against exposure in the UK Corporate Bank
Slide 27: Disclaimer
Disclaimer Barclays FY 2025 Results February 2026 27 Important Notice The terms Barclays or Group refer to Barclays PLC together with its subsidiaries. The information, statements and opinions contained in this presentation do not constitute a public offer under any applicable legislation, an offer
Barclays — Debt Investor Presentation (February 2026) on 6ix