Barclays Plc · LSE:BARC
Barclays — Debt Investor Presentation (February 2026)
101 slides from Barclays's debt investor presentation, Feb 10, 2026
Slide 1: FY 2025 Fixed Income Presentation
FY 2025 Fixed Income Presentation 10th February 2026
Slide 2: We achieved all 2025 financial guidance
We achieved all 2025 financial guidance Barclays FY 2025 Results February 2026 2 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 3: FY25 divisional progress and execution against the plan
FY25 divisional progress and execution against the plan Barclays FY 2025 Results February 2026 3 Statutory RoTE FY24 FY25 A year of disciplined execution Barclays UK 23.1%1 20.7% Distributed £3.7bn of capital (+25% YoY) UK Corporate Bank 16.0% 18.9% Delivered c.£700m gross cost efficiency savings, P
Slide 4: Confident in delivering our financial goals
Confident in delivering our financial goals Barclays FY 2025 Results February 2026 4 Targets 2025 2026 2028 Statutory 11.3% >12% >14% RoTE Progressive >£15bn1 increase vs 20251 2026-2028 Total payout £3.7bn Incl. planned £2bn With capacity to support dividend for 2026 investment and growth Investmen
Slide 5: Better returns: through business mix and improved performance
Better returns: through business mix and improved performance Barclays FY 2025 Results February 2026 5 Statutory RoTE 2023 2025 2026 2028 2023 vs 2025 2025 vs 2028 Feb 24: high teens 19% 21% >20% >20% Barclays UK c.£20bn of c.£30bn UK >5% lending CAGR Improving mix business growth RWAs 21% 19% High
Slide 6: RoTE: targeting >12% in 2026 and >14% in 2028
RoTE: targeting >12% in 2026 and >14% in 2028 Barclays FY 2025 Results February 2026 6 IB Retail & Corporate1 >14% >12% 11.3% 2025 Income Costs Impairment Book value 2026 Income Costs Impairment Book value 2028 growth & growth & Other Other 1 Retail & Corporate consists of income from Barclays UK, B
Slide 7: Income: growth underpinned by Net Interest Income
Income: growth underpinned by Net Interest Income Barclays FY 2025 Results February 2026 7 Income (£bn) 7% Income CAGR >5% Income CAGR 8% NII2 CAGR 29.1 26.8 25.0 25.4 16.4 2026 guidance 15.5 Group income: c.£31bn (previously c.£30bn) 14.4 Investment Bank 15.2 & other1 Group NII ex IB & HO: >£13.5bn
Slide 8: 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 8 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 9: Performance of the structural hedge over time
Performance of the structural hedge over time Barclays FY 2025 Results February 2026 9 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 10: UK lending growth of >5% CAGR to 2028
UK lending growth of >5% CAGR to 2028 Barclays FY 2025 Results February 2026 10 Barclays UK: Scaling multi-brand offering Open market strategy Specialist mortgages Multi-brand card partnerships Growing and capturing market share Which gives confidence in >5% lending CAGR UK lending (£bn) UK lending
Slide 11: Income: continuing to drive Investment Bank RWA productivity
Income: continuing to drive Investment Bank RWA productivity Barclays FY 2025 Results February 2026 11 Delivering on what we promised Improving capital productivity of the Investment Bank Global Markets Progress two 116 125 126 2026 target years into 2028 target 86 Average RWA the plan (£bn) Income
Slide 12: Income: Investment Bank growth supported by more stable income
Income: Investment Bank growth supported by more stable income Barclays FY 2025 Results February 2026 12 Income (£bn) 9% CAGR Low single digit CAGR 0.5 0.1 1.4 13.1 11.0 Increased productivity, targeting income/average RWAs of >7% by 2028 2023 Global Markets Banking fees International 2025 Global Ma
Slide 13: Cost: income ratio of 61% supported by c.£700m of gross efficiency savings
Cost: income ratio of 61% supported by c.£700m of gross efficiency savings Barclays FY 2025 Results February 2026 13 Strong operating leverage Group total costs (£bn) 120 Includes Motor Revenues Costs Finance provision 115 Q423 SCA of £235m 110 of £927m c.10% YoY Indexed 0.4 0.3 105 0.9 0.1 0.6 (0.7
Slide 14: Costs: modest cost growth to 2028, positive operating jaws in each year
Costs: modest cost growth to 2028, positive operating jaws in each year Barclays FY 2025 Results February 2026 14 Group costs (£bn) Cost: Low income 61% ratio (%) 50s% Includes c.£0.4bn • Broadly equal split 2026-28 Best Egg • Includes c.£0.2bn for Tesco c.(0.3) c.0.8 c.0.8 c.(2.0) c.1.2 Modest grow
Slide 15: Costs: improved cost: income ratios and further efficiency savings
Costs: improved cost: income ratios and further efficiency savings Barclays FY 2025 Results February 2026 15 Cost efficiencies Cost: income ratio 2024-25 20231 2024 2025 2026 2028 c.£0.5bn 56% 52%2 56%3 Low 50s% Mid 40s% Barclays UK Barclays c.£0.1bn 55% 51% 50% High 40s% Low 40s% UK Corporate Bank
Slide 16: Impairment: maintaining Group through the cycle LLR guidance of 50-60bps
Impairment: maintaining Group through the cycle LLR guidance of 50-60bps Barclays FY 2025 Results February 2026 16 Group has operated within 50-60bps LLR for the past decade Structurally lower UK impairment BUK: c.30bps LLR through the cycle Q425 90d+ arrears 138 Group LLR Mortgages Average LLR betw
Slide 17: Structurally improved profit signature driving strong capital generation
Structurally improved profit signature driving strong capital generation Barclays FY 2025 Results February 2026 17 Profit signature has structurally improved Driving organic capital generation (bps)1 RoTE 2023 2028 19% >20% Barclays UK Barclays 21% >20% UK Corporate Bank Barclays >230 >200 Private B
Slide 18: Unchanged capital allocation priorities
Unchanged capital allocation priorities Barclays FY 2025 Results February 2026 18 1. Regulatory capital 2. Shareholder distributions 3. Investment Protect our customers, Increase returns to our Grow our business for the clients and investors shareholders benefit of all our stakeholders Sufficient he
Slide 19: Barclays – a journey to sustainably higher returns
Barclays – a journey to sustainably higher returns Barclays FY 2025 Results February 2026 19 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 20: Asset quality
Asset quality
Slide 21: Impairment: maintaining Group through the cycle LLR guidance of 50-60bps
Impairment: maintaining Group through the cycle LLR guidance of 50-60bps Barclays FY 2025 Results February 2026 21 Group has operated within 50-60bps LLR for the past decade Structurally lower UK impairment BUK: c.30bps LLR through the cycle Q425 90d+ arrears 138 Group LLR Mortgages Average LLR betw
Slide 22: FY25 LLR of 52bps; maintaining through the cycle guidance of 50-60bps
FY25 LLR of 52bps; maintaining through the cycle guidance of 50-60bps Barclays FY 2025 Results February 2026 22 Loan loss rate (bps) Impairment charge (£m) 190 US Consumer Bank 636 514 431 496 610 562 558 5052 1,438 1,521 1,293 438 456 140 411 395 FY23 FY24 FY25² Group 52 46 46 90 1,881 1,982 2,279
Slide 23: Broadly stable delinquency trends in US cards
Broadly stable delinquency trends in US cards Barclays FY 2025 Results February 2026 23 30 day US cards delinquencies 2.9% 3.1% 2.9% 3.0% 3.0% 3.0% 2.9% 3.0% 2.8% 90 day US cards delinquencies 1.5% 1.7% 1.6% 1.6% 1.6% 1.6% 1.6% 1.5% 1.6% USCB loan loss rate1 (bps) 636 610 438 411 395 562 456 5054 55
Slide 24: Our US Cards book is high quality and stable, with no signs of stress
Our US Cards book is high quality and stable, with no signs of stress Barclays FY 2025 Results February 2026 24 US consumer indebtedness lower versus historic levels1 Our book is positioned in the super-prime segment 2008 crisis Pandemic 790 10% 25% Super-prime 740 8% 20% Prime Q425 USCB 690 6% 15%
Slide 25: Long-term prudent risk positioning in our credit card portfolios
Long-term prudent risk positioning in our credit card portfolios Barclays FY 2025 Results February 2026 25 UK cards US cards 23.7 24.5 25.7 26.3 16.4 20.5 14.7 15.0 14.7 16.1 Net L&A1 (£bn) 9.9 9.7 Net L&A1 (£bn) 8.7 9.2 16.6% 14.3% 10.5% 12.8% 9.1% 10.6% 10.2% 9.9% 9.7% 7.6% 6.8% 8.1% Total coverag
Slide 26: Well provisioned balance sheet
Well provisioned balance sheet Barclays FY 2025 Results February 2026 26 Balance sheet provisions for ECL (£bn) Credit impairment charges (£m) 5.6 5.7 0.4 632 0.4 Off-balance sheet 102 535 Barclays UK 5 UK Corporate Bank 74 144 1 Private Bank & 22 Wealth Management On-balance sheet 5.3 5.2 Investmen
Slide 27: Resilient mortgage book; leveraging capabilities of Kensington
Resilient mortgage book; leveraging capabilities of Kensington Barclays FY 2025 Results February 2026 27 Mortgage portfolio Kensington adding capabilities to Barclays UK • 55.2% average balance weighted LTV of mortgage stock Ability to lend to high-yield, low risk customers with complex incomes o 41
Slide 28: Private Credit exposures well managed
Private Credit exposures well managed Barclays FY 2025 Results February 2026 28 Committed exposure c.6% of loans and advances • Private Credit: Lending conducted outside of banks or public debt markets • Barclays provides senior financing on a secured basis against diversified portfolios of private
Slide 29: Synthetic Risk transfer transactions enhance Barclays’ risk management capabilities
Risk transfer transactions enhance Barclays’ risk management capabilities Barclays FY 2025 Results February 2026 29 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 30: 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 30 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 31: Capital and leverage
Capital and leverage
Slide 32: Guidance on regulatory driven RWA inflation
Guidance on regulatory driven RWA inflation Barclays FY 2025 Results February 2026 32 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 33: CET1 ratio in relation to our minimum requirements
CET1 ratio in relation to our minimum requirements Barclays FY 2025 Results February 2026 33 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 34: 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 34 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,
Slide 35: 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 35 Q425 CET1 ratio movements (8bps) 13bps 2bps c.(30bps) 33bps c.(14bps) FY25: 173bps capital generation 14.3% 14.1% 14.0% 13.9% Q325 Q325 announced Q325 rebased Attributable Dividend RWA Other Q425
Slide 36: Group RWAs decreased by £0.6bn quarter on quarter
Group RWAs decreased by £0.6bn quarter on quarter Barclays FY 2025 Results February 2026 36 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 37: 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 37 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 38: Leverage ratio above regulatory requirements
Leverage ratio above regulatory requirements Barclays FY 2025 Results February 2026 38 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 39: Balance sheet management
Balance sheet management
Slide 40: MREL position well established
MREL position well established Barclays FY 2025 Results February 2026 40 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 41: c.£10bn issuance plan for 2026
c.£10bn issuance plan for 2026 Barclays FY 2025 Results February 2026 41 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 42: Diverse and stable deposit base of £586bn
Diverse and stable deposit base of £586bn Barclays FY 2025 Results February 2026 42 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 43: 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 43 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 44: Gross structural hedge income expected to grow beyond 2028
Gross structural hedge income expected to grow beyond 2028 Barclays FY 2025 Results February 2026 44 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% c.10%
Slide 45: Performance of the structural hedge over time
Performance of the structural hedge over time Barclays FY 2025 Results February 2026 45 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 46: Low-interest rate sensitivity
Low-interest rate sensitivity Barclays FY 2025 Results February 2026 46 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 47: Credit ratings
Credit ratings
Slide 48: 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 48 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 49: FY25 Performance
FY25 Performance
Slide 50: Barclays Group Q425 and FY25
Barclays Group Q425 and FY25 Barclays FY 2025 Results February 2026 50 Q425 FY25 8.5% £1.9bn 11.3% £9.1bn Statutory RoTE Profit before tax Statutory RoTE Profit before tax Q424: 7.5% Q424: £1.7bn FY24: 10.5% FY24: £8.1bn £7.1bn £0.5bn £29.1bn £2.3bn Income Impairment Income Impairment Q424: £7.0bn1
Slide 51: Group delivered FY25 RoTE of 11.3%; achieving guidance of >11%
Group delivered FY25 RoTE of 11.3%; achieving guidance of >11% Barclays FY 2025 Results February 2026 51 Group RoTE (%) Profit before tax (£m) +13% Profit before impairment +13% 8% tangible 9,139 equity growth 8,1941 8,108 (1.5) 7,012 6,557 3.5 (0.4) 4,357 (0.7) 3,065 FY19 FY20 FY21 FY22 FY23 FY24 F
Slide 52: Group income of £29.1bn, up 9% YoY, driven by stable income streams
Group income of £29.1bn, up 9% YoY, driven by stable income streams Barclays FY 2025 Results February 2026 52 Group income (£bn) +9% YoY 29.1 YoY 26.8 c.£31bn income guidance in FY26 25.4 2.5 -2% (Previously c.£30bn) Banking fees & 2.5 underwriting 2.0 5.1 +13% 4.3 4.5 Intermediation 3.5 +17% More s
Slide 53: Group NII of £12.8bn, up 13% YoY; achieving guidance of >£12.6bn
Group NII of £12.8bn, up 13% YoY; achieving guidance of >£12.6bn Barclays FY 2025 Results February 2026 53 Net interest income (£bn) +13% YoY 14.00 12.8 12.00 11.3 11.0 NII performance FY25 YoY (%) Q425 QoQ (%) 10.00 5.1 BUK +15% +3% UK Corporate Bank, Private Bank & Wealth 4.6 UKCB 4.5 +23% +3% Man
Slide 54: £5.9bn structural hedge income in FY25; 46% of Group NII
£5.9bn structural hedge income in FY25; 46% of Group NII1 Barclays FY 2025 Results February 2026 54 Continued structural hedge momentum Notional broadly stable for five quarters from Q424 14.0 Hedge notional (£bn) 4.0% 3.7% GBP 5yr12.0 3.4% swap rate2 10.0 246 2.5% 232 236 2.0% Hedge yield08.0 3 1.5
Slide 55: On track to deploy c.£30bn UK RWA by 2026 with organic momentum
On track to deploy c.£30bn UK RWA by 2026 with organic momentum Barclays FY 2025 Results February 2026 55 Continued strong net mortgage growth Card acquisitions driving balance growth YoY HLTV mix1 13% 15% 14% 18% 22% 26% 23% 26% Card 278 243 251 288 386 374 371 317 acquisitions (k) 15.0 15.0 15.7 1
Slide 56: Barclays UK Q425 and FY25
Barclays UK Q425 and FY25 Barclays FY 2025 Results February 2026 56 Q425 FY25 23.8% £0.9bn 20.7% £3.4bn Statutory RoTE Profit before tax Statutory RoTE Profit before tax Q424: 28.0%1 Q424: £1.1bn1 FY24: 23.1%1 FY24: £3.6bn1 £2.3bn £2.0bn £8.7bn £7.7bn Income Net Interest Income Income Net Interest I
Slide 57: Barclays UK delivered Q425 RoTE of 23.8%
Barclays UK delivered Q425 RoTE of 23.8% Barclays FY 2025 Results February 2026 57 RoTE (%) Income by business (£m) YoY Total costs (£m) YoY 2,253 2,262 +10% 2,059 1,792 SCA 168 545 560 +4% Business 537 483 1,329 +9% Banking 1,215 1,198 1,019 Retail 1,522 1,708 1,702 +12% 1,309 Banking 19.7 19.1 Q42
Slide 58: Stable deposit trends; sixth consecutive quarter of organic loan growth
Stable deposit trends; sixth consecutive quarter of organic loan growth Barclays FY 2025 Results February 2026 58 Barclays UK deposit balances and mix (£bn) Barclays UK loans and advances1 (£bn) +£8.0bn2 -£1.1bn -£1.8bn +£0.2bn +£3.1bn +£8.4bn2 +£1.9bn +£1.6bn +£2.2bn +£3.1bn YoY YoY 210 211 213 217
Slide 59: UK Corporate Bank Q425 and FY25
UK Corporate Bank Q425 and FY25 Barclays FY 2025 Results February 2026 59 Q425 FY25 19.1% £0.3bn 18.9% £1.0bn Statutory RoTE Profit before tax Statutory RoTE Profit before tax Q424: 12.3% Q424: £0.2bn FY24: 16.0% FY24: £0.7bn £0.5bn £0.3bn £2.1bn £1.1bn Income Costs Income Costs Q424: £0.5bn Q424: £
Slide 60: UK Corporate Bank delivered Q425 RoTE of 19.1%
UK Corporate Bank delivered Q425 RoTE of 19.1% Barclays FY 2025 Results February 2026 60 RoTE (%) Income by product (£m) YoY Income by type (£m) YoY 522 539 +18% 522 539 +18% 458 458 395 90 97 +37% 395 71 139 143 +7% Corporate 64 134 lending Non-NII 148 Transaction 387 432 442 +14% 396 +22% 331 324
Slide 61: Private Bank & Wealth Management Q425 and FY25
Private Bank & Wealth Management Q425 and FY25 Barclays FY 2025 Results February 2026 61 Q425 FY25 12.6% £0.1bn 26.3% £0.4bn Statutory RoTE Profit before tax Statutory RoTE Profit before tax Q424: 23.9% Q424: £0.1bn FY24: 28.1% FY24: £0.4bn £0.3bn £0.3bn £1.4bn £1.0bn Income Costs Income Costs Q424:
Slide 62: Private Bank & Wealth Management delivered Q425 RoTE of 12.6%
Private Bank & Wealth Management delivered Q425 RoTE of 12.6% Barclays FY 2025 Results February 2026 62 RoTE (%) Income by type (£m) YoY Total costs (£m) YoY 351 335 348 -1% 313 SCA 29 Non-NII 135 145 146 +8% 131 296 28.9 263 +13% 228 243 NII 182 216 190 202 -6% Q423 Q424 Q325 Q425 Q423 Q424 Q325 Q4
Slide 63: Investment Bank Q425 and FY25
Investment Bank Q425 and FY25 Barclays FY 2025 Results February 2026 63 Q425 FY25 4.0% £0.7bn 10.6% £4.6bn Statutory RoTE Profit before tax Statutory RoTE Profit before tax Q424: 3.4% Q424: £0.5bn FY24: 8.5% FY24: £3.8bn £2.8bn £2.1bn £13.1bn £8.1bn Income Costs Income Costs Q424: £2.6bn Q424: £2.1b
Slide 64: Operational performance on track in Investment Bank
Operational performance on track in Investment Bank Barclays FY 2025 Results February 2026 64 Maintaining capital discipline Driving efficiency of capital Growing more stable income streams Period-end IB RWAs (£bn) Income / average RWAs (%) 42% from stable income streams in 2025 (£bn) YoY 13.1 11.61
Slide 65: Investment Bank delivered Q425 RoTE of 4.0%
Investment Bank delivered Q425 RoTE of 4.0% Barclays FY 2025 Results February 2026 65 RoTE (%) Investment Bank income (£m)3 YoY 3,083 2,607 2,792 +7% 2,037 1,697 1,461 1,395 +5% Other income4 1,092 More stable 1,212 1,386 1,331 +10% 945 income streams5 10.1 Q423 Q424 Q325 Q425 Risk weighted assets (
Slide 66: Income up 7% YoY; solid performance in Markets and Advisory
Income up 7% YoY; solid performance in Markets and Advisory Barclays FY 2025 Results February 2026 66 Global Markets Investment Banking Banking fees Income by product (£m) Income by type (£m) Income (£m) +3% USD YoY4 +12% YoY +12% YoY flat YoY +17% USD +17% USD 1,138 1,945 1,945 1,069 1,065 YoY 196
Slide 67: Global Markets risk managed prudently
Global Markets risk managed prudently Barclays FY 2025 Results February 2026 67 Global Markets: VaR Global Markets: Daily trading income distribution2 Russia/ US banking £60m Pandemic Ukraine crisis Average FY19-24 FY25 £40m Average VaR1 £23m £20m <£0m £0-15m £15-30m £30-50m £50m+ Average 11 67 101
Slide 68: US Consumer Bank Q425 and FY25
US Consumer Bank Q425 and FY25 Barclays FY 2025 Results February 2026 68 Q425 FY25 15.8% £0.2bn | $0.3bn 11.0% £0.5bn | $0.7bn Statutory RoTE Profit before tax Statutory RoTE Profit before tax Q424: 11.2% Q424: £0.1bn | $0.2bn FY24: 9.1% FY24: £0.4bn | $0.5bn $37.6bn £1.1bn | $1.4bn $37.6bn £3.7bn |
Slide 69: Operational performance on track in US Consumer Bank
Operational performance on track in US Consumer Bank Barclays FY 2025 Results February 2026 69 Organic and inorganic balance growth Margin tracking to >12% Rebalancing mix towards retail End Net Receivables ($bn)1 Net interest margin (%) Retail mix (%)3 +17% since 20232 34.2 33.9 35.9 37.6 +10% YoY
Slide 70: US Consumer Bank delivered Q425 RoTE of 15.8%
US Consumer Bank delivered Q425 RoTE of 15.8% Barclays FY 2025 Results February 2026 70 YoY RoTE (%) Income by type (£m) Total costs (£m) +23% YoY 1,053 +28% USD 941 SCA 19 866 857 277 +55% Non-NII 180 179 215 +63% USD 433 432 -0% 12.5 401 407 +4% USD 776 +14% NII 686 678 726 +19% USD Q423 Q424 Q325
Slide 71: Acquisition of Best Egg and sale of American Airlines to complete in Q226
Acquisition of Best Egg and sale of American Airlines1 to complete in Q226 Barclays FY 2025 Results February 2026 71 Estimated impacts in Q226 Annual normalised income ($m)2 c.$700m2 American Airlines Best Egg Capital light partnership exit acquisition origination and servicing fees AA Best Egg Inco
Slide 72: Long track record of growth and returns in USCB
Long track record of growth and returns in USCB Barclays FY 2025 Results February 2026 72 Why partners choose Barclays Long term mid-teens RoTE business 40 Covid-19: 25% 22% impacted by impairment 18% reserve build 20% 16%17% 16% 18% 17%13% 30 15% Avg 20+ years of expertise in specialised partner ca
Slide 73: Divisional Targets
Divisional Targets
Slide 74: Barclays UK financials and targets
Barclays UK financials and targets Barclays FY 2025 Results February 2026 74 Financials 2022 2023 2024 2025 2026 Targets 2028 Targets 23%1 >20% >20% RoTE 19% 19% 21% Feb 24: High teens% Total income (£bn) 7.3 7.6 8.3 8.7 Net interest income (£bn)2 5.9 6.4 6.6 7.7 £8.1-8.3bn (NII) Cost: income ratio
Slide 75: Barclays UK Corporate Bank financials and targets
Barclays UK Corporate Bank financials and targets Barclays FY 2025 Results February 2026 75 Financials 2022 2023 2024 2025 2026 Targets 2028 Targets RoTE 19% 21% 16% 19% High teens % >20% Deliver high-quality Income (£bn) 1.7 1.8 1.8 2.1 growth across broad sources Cost: income ratio 49% 52% 55% 51%
Slide 76: Barclays Private Bank and Wealth Management financials and targets
Barclays Private Bank and Wealth Management financials and targets Barclays FY 2025 Results February 2026 76 Financials1 2022 2023 2024 2025 2026 Targets 2028 Targets 31% RoTE 29% 28% 26% >25% >25% Deliver high- quality growth Income (£bn) 1.2 1.3 1.3 1.4 across broad sources Cost: income ratio 69%
Slide 77: Barclays Investment Bank financials and targets
Barclays Investment Bank financials and targets Barclays FY 2025 Results February 2026 77 Financials 2022 2023 2024 2025 2026 Targets 2028 Targets RoTE 11% c.12% >13% 9% 7% 8% Feb 24: >12% 13.1 High single digit Low single digit Income (£bn) 11.91 11.0 11.8 CAGR2 CAGR3 69% 70% c.60% High 50s% Cost:
Slide 78: Barclays US Consumer Bank financials and targets
Barclays US Consumer Bank financials and targets Barclays FY 2025 Results February 2026 78 Key Metrics1 2022 2023 2024 2025 2026 Targets 2028 Targets >12% c.12% excluding RoTE 13% 4% 9% 11% AA gain on sale2 Mid-Teens Income ($bn) 3.2 4.1 4.2 4.9 High single 3.3 3.3 3.7 Income (£bn) 2.6 digit CAGR3 E
Slide 79: Additional Detail
Additional Detail
Slide 80: Developing use cases for digital assets
Developing use cases for digital assets Barclays FY 2025 Results February 2026 80 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 81: Simpler business: digitally driven
Simpler business: digitally driven Barclays FY 2025 Results February 2026 81 Digital interactions2 Direct Investing 24k 65k USCB digital 96% c.30% c.50% >70% new clients 2023 2025 interactions3 2025 2023 2025 2028 PBWM1 UK Corporate Bank PBWM1 Private Bank services International Corporate Bank Premi
Slide 82: Simpler organisation: standardised foundations
Simpler organisation: standardised foundations Barclays FY 2025 Results February 2026 82 Cloud Data Digital and AI Most Most developed potential Leading multi-cloud adoption… Barclays c.70% >250 today 75% 89% of core data on our AI tools and 1 1 standardised platform… models in use2 2023 2025 …with
Slide 83: Simpler organisation: modernised approaches
Simpler organisation: modernised approaches Barclays FY 2025 Results February 2026 83 Accelerating revenue growth Creating efficiencies 19k Delivering developers using BarxBot 75% software GitLab Duo Chatbot for FX faster response Streamlines planning, quotations in Markets for queries developing an
Slide 84: Simpler organisation: harmonised systems and processes
Simpler organisation: harmonised systems and processes Barclays FY 2025 Results February 2026 84 More efficient, lower cost operations c.75% c.£2bn c.£0.8bn of employees in support efficiency savings additional investment functions1 across Group 2028 versus 2025 across Group 2028 versus 2025 Two exa
Slide 85: Better: building segment-leading businesses
Better: building segment-leading businesses Barclays FY 2025 Results February 2026 85 Best-in-class offerings for our customers Building connections and scale across the Group #6 Leading non-US Investment Bank with deep fixed income Integrated client offerings and Global Markets and coverage Investm
Slide 86: Better financial returns: the leading non-US Investment Bank
Better financial returns: the leading non-US Investment Bank Barclays FY 2025 Results February 2026 86 Strong global position Path to >13% RoTE by 2028 #6 #4 #1 Global Markets: Consolidate gains in focus Global Markets and Fixed Income Credit US and European Investment Banking1 Trading2 Credit Resea
Slide 87: Better financial returns: the ‘Premier’ UK bank
Better financial returns: the ‘Premier’ UK bank Barclays FY 2025 Results February 2026 87 Starting from strong foundations with significant further scope Enhancements to realise connected opportunity Premier bNPS1 37 c.1.1m 50% Enhancing Premier Banking Mass Affluent Mass Affluent2 10 customers2 cus
Slide 88: Better financial returns: USCB is a leading digital banking partner
Better financial returns: USCB is a leading digital banking partner Barclays FY 2025 Results February 2026 88 Track record of organic growth and partner wins Leveraging digital platforms through savings and Best Egg >85% 100% +34% c.50bps Total receivables secured through 20301 digital growth in ret
Slide 89: Better: building segment-leading customer experience
Better: building segment-leading customer experience Barclays FY 2025 Results February 2026 89 Improved customer satisfaction Driving deeper engagement bNPS score1 Barclays UK 25 17 Barclays UK mobile app 2023 2025 re-launch in 2026 NPS score2 55 Barclays UK mortgage broker platform -51 2023 2025 In
Slide 90: Better: integrated wholesale client offering and coverage
Better: integrated wholesale client offering and coverage Barclays FY 2025 Results February 2026 90 Global Markets: Growing share with our largest clients UK-centred, global corporate Bank Top 100 Markets clients with Top 5 rank1 US UK Europe USD #1 Top 10 Built deposit Target: GBP clearer2 EUR clea
Slide 91: More balanced: building fee income
More balanced: building fee income Barclays FY 2025 Results February 2026 91 Group wide capabilities and connections Driving fee income beyond 2028 Income (£bn)3 Barclays UK Premier Wealth Planning & Advice Management 29.1 25.4 PBWM 5.1 4.3 Intermediation Transaction Banking 6.0 UKCB 4.1 #1 Deposits
Slide 92: Costs: normalised costs driving Barclays UK operating leverage from 2026
Costs: normalised costs driving Barclays UK operating leverage from 2026 Barclays FY 2025 Results February 2026 92 Ongoing transformation journey Efficiency savings underpin lower cost base by 2028 Barclays UK cost: income ratio (%) 56%2 56% Mid 40s% 0.2 0.4 68% Includes c.£50m 58% one-offs 60% Incl
Slide 93: Costs: capital generation enabling further investment
Costs: capital generation enabling further investment Barclays FY 2025 Results February 2026 93 Prior investments yielding tangible results Organic investments for growth and efficiency £bn (P&L) £1.1bn c.£2.3bn Organic Cash Investment Results to date c.0.8 c.0.8 c.0.7 +c.60% c.£130m Global Markets
Slide 94: Appendix
Appendix
Slide 95: Barclays UK
Barclays UK Barclays FY 2025 Results February 2026 95 Income by business (£m) 2023 2024 2025 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Retail Banking 1,500 1,481 1,403 1,309 1,357 1,402 1,433 2,0782 1,573 1,599 1,708 1,702 Of which: UK Cards1 247 237 238 242 229 228 249 296 292 279 296 287 Business Bankin
Slide 96: Non-IFRS performance measures
Non-IFRS performance measures Barclays FY 2025 Results February 2026 96 US Consumer Bank: Return on average allocated tangible equity1 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Attributable profit (£m) 124 133 163 140 258 280 196 536 490 (256) 379 356 131 302 390 Avg
Slide 97: Resilient UK economic trends
Resilient UK economic trends Barclays FY 2025 Results February 2026 97 UK GDP growth comparable to US and Euro economies1 UK debt-to-GDP lower than historic highs2 2024 2025E 2026E Households Non-financial corporations Nominal GDP growth Debt as a % of GDP 7% 100% 6% 5% 80% 4% 3% 2% 60% 1% 0% 40% UK
Slide 98: Plan continues to be based on realistic assumptions
Plan continues to be based on realistic assumptions Barclays FY 2025 Results February 2026 98 UK Unemployment UK Inflation UK Rates 4.2% 4.0% 3.8% 3.9% 7 year GBP swap rate Market implied1 10th Feb Hedge reinvestment 3.5% 3.5% 3.5% Consensus1 5.1% 5.1% 2026 3.4% rate 4.8% 4.8% 10th Feb Consensus1 2.
Slide 99: Macroeconomic variables
Macroeconomic variables Barclays FY 2025 Results February 2026 99 Assumptions 2025 2026 2027 2028 UK GDP2 1.4% 1.3% 1.5% 1.4% UK unemployment3 5.1% 4.8% 4.8% 4.8% UK bank rate4 3.75% 3.50% 3.75% 3.75% Hedge reinvestment rate 3.8%5 3.5% 3.5% 3.5% UK inflation6 3.4% 2.5% 2.2% 2.2% Plan (10th February
Slide 100: Disclaimer
Disclaimer Barclays FY 2025 Results February 2026 100 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
Slide 101: Contact details, upcoming events and useful presentations
Contact details, upcoming events and useful presentations Debt Investor Relations Upcoming events Jordan Guy jordan.guy@barclays.com 28th April 2026 Q126 results 28th July 2026 Q226 results Justin Lutterbuese justin.lutterbuese@barclays.com Useful presentations Progress update and targets update 202
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