Slide 1: 2025 Half Year Results Presentation
2025 Half Year Results Presentation 31 July 2025
Slide 2: Key highlights
CONFIDENTIAL Key highlights Strong performance in the second quarter with income up 15% at ccy excluding notable items Our strategy is driving continued top line growth and increasing RoTE Announcing a new $1.3bn share buyback today; well on track to return at least $8bn to shareholders (2024-2026)
Slide 3: CFO update
CONFIDENTIAL CFO update Diego De Giorgi Group Chief Financial Officer 3
Slide 4: Strong performance in Q2'25
CONFIDENTIAL Strong performance in Q2’25 $m Q2’24 Q2’25 YoY ccy Q2’25 key stats B/(W) Net interest income (NII) 2,694 2,703 - Underlying RoTE Underlying EPS Non-NII 19.7% 76.6 cents 2,112 2,806 31% up ~7%pts YoY up 68% YoY Operating income 4,806 5,509 14% Operating expenses (2,887) (3,050) (3%) CET1
Slide 5: Good growth in non-NII offsets lower NII
CONFIDENTIAL Good growth in non-NII offsets lower NII NII QoQ ($m) Non-NII YoY ($m) +31% ccy (4%) ccy 2,796 2,806 78 43 2,703 2,112 (215) Q1’25 Rates & margin Volume Mix & others Q2’25 Q2’24 Wealth Global Global Others1 Q2’25 Solutions Markets Banking • NII down 4% QoQ from rates-driven margin compr
Slide 6: Low single-digit increase in expenses
CONFIDENTIAL Low single-digit increase in expenses • 3% YoY increase in Q2 expenses, largely driven by Operating expenses movement ($m) targeted business growth in CIB and Affluent in WRB +3% ccy • Partly offset by FFG and other efficiency saves 169 54 40 3,050 • Income-to-cost jaws of 11% excluding
Slide 7: Low levels of impairment
CONFIDENTIAL Low levels of impairment • CIB net recoveries largely driven by sovereign ratings upgrade Credit impairment ($m) Group total 73 178 130 219 117 • WRB impairment lower QoQ due to reduced exposure in 10 0 unsecured portfolio and one-off recovery from NPL sale in Korea 16 14 14 15 • Loan-l
Slide 8: Growth in underlying customer loans and deposits
CONFIDENTIAL Growth in underlying customer loans and deposits • Underlying L&A to customers up $1bn QoQ with slight growth in Loans and advances (L&A) to customers1 ($bn) WRB mortgages in Korea +$1bn 7 • Continue to expect low single-digit percentage growth in 286 1 287 underlying L&A to customers f
Slide 9: Robust capital with low single-digit percentage growth in RWA
CONFIDENTIAL Robust capital with low single-digit percentage growth in RWA • Q2’25 RWA up $6bn or 2% QoQ Risk-weighted assets ($bn) +$6bn • $4bn from FX as USD weakened against some key currencies 1.7 1.6 259.7 4.1 • Asset quality driven by a sovereign rating downgrade 253.6 (1.0) (0.3) • Partly off
Slide 10: Shareholder distributions on track to exceed $8bn
CONFIDENTIAL Shareholder distributions on track to exceed $8bn • $6.5bn shareholder distributions announced since FY’23 Distributions of $6.5bn since FY’23 results results Buyback Ordinary dividends − $5.3bn in share buyback $1.3bn $288m − $1.2bn in ordinary dividends • On track to return at least $
Slide 11: CIB: Global Markets delivered a record Q2
CONFIDENTIAL CIB: Global Markets delivered a record Q2 CIB ($m) Q2’24 Q2’25 YoY ccy Global Markets: flow and episodic income ($m) B/(W) Transaction Services 1,593 1,469 (8%) +47% Global Markets 796 1,172 47% 1,183 1,172 Global Banking 488 548 12% 406 397 Treasury & Other 105 72 (30%) 796 840 773 157
Slide 12: WRB: Continued momentum in Wealth Solutions with record NNM
CONFIDENTIAL WRB: Continued momentum in Wealth Solutions with record NNM WRB ($m) Q2’24 Q2’25 YoY ccy Affluent clients – key indicators ($bn) B/(W) Net new money (NNM)1 Assets under management (AUM) Investment Products 444 544 22% Bancassurance 174 198 14% +8% AUM QoQ Wealth Solutions 618 742 20% 15
Slide 13: Ventures performance supported by gain on Solv transaction
CONFIDENTIAL Ventures performance supported by gain on Solv transaction Ventures ($m) Q2’24 Q2’25 YoY ccy Digital Banks – key highlights B/(W) Customer deposits and loan growth at ccy Digital Banks 33 46 48% Mox Trust SC Ventures (SCV) 15 232 n.m. Deposits Lending Deposits Lending Operating income 4
Slide 14: Looking ahead
CONFIDENTIAL Looking ahead Guidance1 Operating income to increase 5-7% CAGR in 2023-2026, tracking towards Return at least Positive CET1 ratio of $8bn capital to upper end of the Operating expenses2 income-to-cost jaws 13-14% shareholders range <$12.3bn in 2026 each year (2024-2026) 2025 growth to b
Slide 15: CEO update
CONFIDENTIAL CEO update Bill Winters Group Chief Executive 15
Slide 16: CIB continues to win client mandates
CONFIDENTIAL CIB continues to win client mandates Network continues to be a growth driver Capturing opportunity from diversification Global Banking origination volume resilient • H1’25 network income of $3.8bn, up 4% YoY or Corporates: • Good growth in origination volumes in H1’25, 9% ex-rates up 30
Slide 17: Affluent franchise continues to deliver
CONFIDENTIAL Affluent franchise continues to deliver Affluent AUM ($bn) CAGR Affluent net new money H1’25 ($bn)2 420 367 +11% CAGR 195 +8% 272 38% 255 258 174 223 240 $28bn 199 201 170 136 140 155 International clients 62% 129 135 117 122 Others 105 225 +16% Deposits 193 94 105 119 118 118 Wealth 65
Slide 18: Taking a leading position in development of digital assets
CONFIDENTIAL Taking a leading position in development of digital assets Our digital assets strategy We serve as a bridge to digital finance… Creating solutions and future opportunities • We are a conduit between clients and financial • Only GSIB to offer trading in deliverable spot markets Bitcoin a
Slide 19: Mobilising sustainable finance where it matters most
CONFIDENTIAL Mobilising sustainable finance where it matters most H1’25 key highlights • YTD’25 sustainable finance income up 5% YoY; FY’24 income was $982m − On track to achieve 2025 income target of >$1bn EUR 1bn Our first-ever social bond2 • Mobilised ~$136bn1 of sustainable finance since the sta
Slide 20: In conclusion
CONFIDENTIAL In conclusion Strong performance in the first half demonstrating the success of our strategy Upgrading FY’25 income growth to be at the bottom end of 5-7% range Announcing a new $1.3bn share buyback; well on track to exceed the $8bn distribution target (2024-2026) Remain confident in th
Slide 21: Appendices
CONFIDENTIAL Appendices 21
Slide 22: 2025 and 2026 guidance
CONFIDENTIAL 2025 and 2026 guidance 2025 guidance 2026 guidance Income • 2025 growth expected to be around bottom of 5-7% range1 • 5-7% CAGR in 2023-20262, tracking towards upper end of the range • On current 2025 forward FX rates3, immaterial impact vs 2024 • On current 2026 forward FX rates3, the
Slide 23: Tangible net asset value
CONFIDENTIAL Tangible net asset value Tangible equity Ventures TNAV per share fair value portfolio Basic # of ordinary shares2 ($m) (cents) (m) As of 31.3.25 37,227 1,561 2,384 Profit attributable to ordinary shareholders 1,719 72 Movement in intangible assets (253) (11) Dividends paid to: Ordinary
Slide 24: H1'25 performance
CONFIDENTIAL H1’25 performance $m H1’24 H1’25 YoY ccy H1’25 key stats B/(W) Net interest income (NII) 5,350 5,499 4% Underlying RoTE Underlying EPS 18.1% 139.2 cents Non-NII 4,608 5,400 18% up ~4%pts YoY up 41% YoY Operating income 9,958 10,899 10% Operating expenses (5,673) (5,965) (4%) CET1 ratio
Slide 25: Product income
CONFIDENTIAL Product income $m Q2’25 YoY YoY ccy H1’25 YoY YoY ccy B/(W) B/(W) B/(W) B/(W) Transaction Services 1,469 (124) (8%) 2,996 (200) (6%) Payments & Liquidity 1,013 (126) (11%) 2,074 (226) (9%) Securities & Prime Services 158 5 4% 309 15 6% Trade & Working Capital 298 (3) - 613 11 3% Global
Slide 26: Ventures accounting approach
CONFIDENTIAL Ventures accounting approach Ventures segment Solv India transaction • Ventures segment currently includes full consolidation of ~20 ventures • SCV retains a non-controlling interest in Jumbotail, which will be and equity accounted income from six ventures recognised as an associate • V
Slide 27: Digital asset initiatives
CONFIDENTIAL Digital asset initiatives Strategic capabilities across Digital Assets (DA) Access Custody Execution Tokenisation Interoperability enable clients to access DA facilitate the safekeeping of DA or facilitate clients to transact and convert assets into a token which can enable data and ass
Slide 28: Interest rate assumptions
CONFIDENTIAL Interest rate assumptions Currency-weighted average1 (bps) Jun’25 top 10 currencies weighting 389 KRW 371 0% 389 349 MYR 325 EUR 3% 309 5% USD 335 299 295 295 17% TWD 304 301 7% 295 290 282 279 CNY 7% Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 GBP Average as of 17.4.25 Average as o
Slide 29: Hedging strategy reducing NII volatility
CONFIDENTIAL Hedging strategy reducing NII volatility • H1’25 NII sensitivity up YTD due to balance sheet growth and HKD rate Interest rate risk in the banking book movements, partially offset by an increase in structural hedging Annualised impact to banking book NII from instantaneous -100bps paral
Slide 30: Limited Hong Kong CRE exposure; mostly secured
CONFIDENTIAL Limited Hong Kong CRE exposure; mostly secured Hong Kong CRE exposure5 ($bn) by credit grade6 • $2.1bn portfolio is <0.5% of total Group exposures1 2.1 − Down $0.1bn QoQ mostly due to repayments 0.4 Unsecured − 81% secured2 with average LTV2 below 50% Secured • 96% performing3: one clie
Slide 31: Information for fixed income investors
CONFIDENTIAL Information for fixed income investors 31
Slide 32: Strong underlying performance founded on a diverse franchise
CONFIDENTIAL Strong underlying performance founded on a diverse franchise 54 $10.9bn $4.7bn 55% 18.1% Operating income Profit before tax Cost-to-income ratio Return on tangible equity Markets (H1’24: $10.0bn) (H1’24: $4.0bn) (H1’24: 57%) (H1’24: 14.0%) Income diversified by market, segment and produ
Slide 33: Strong foundations from a diversified balance sheet
CONFIDENTIAL Strong foundations from a diversified balance sheet 14.3% 33.3% 4.7% 146% 137% 51% CET1% MREL% Leverage ratio LCR1 NSFR2 Advances-to- min. requirement: min. requirement: min. requirement: min. requirement: min. requirement: deposits ratio 10.5% 28.1% 3.7% 100% 100% Total assets by marke
Slide 34: Balance sheet is conservatively positioned
CONFIDENTIAL Balance sheet is conservatively positioned • Balance sheet movements driven by increased client flow Balance sheet Total equity & Total assets Since 31.12.24 liabilities Since 31.12.24 − FVTPL securities up on client activity in Greater China $914bn Δ 8% $914bn Δ 8% − Derivatives normal
Slide 35: Strong and diverse deposit base
CONFIDENTIAL Strong and diverse deposit base; franchise delivers deposit quality • Well-diversified deposit base across 54 markets Customer deposits by market4 − In Hong Kong & Singapore we are a Domestic SIB1 Hong Kong 12% Singapore • 53% CIB deposits, of which 44% in operational accounts (OPAC) UK
Slide 36: Deposit mix stable with PTRs managed assertively
CONFIDENTIAL Deposit mix stable with PTRs managed assertively • CASA/TD mix for both CIB and WRB have been stable Transaction Services CASA% of CIB deposits3 ($bn) 63% 62% 64% 64% 64% − Strong deposit growth in Q2 evenly spread between CASA and TDs CASA % − CIB growth on client activity and surplus
Slide 37: High levels of liquid resources and stable funding
CONFIDENTIAL High levels of liquid resources and stable funding • LCR of 146%1 stable QoQ Components of Liquidity coverage ratio (LCR)1 147% 146% 138% − Net cash outflows and HQLA were up in line with balance sheet growth Other liquid • Comfortable to run LCR efficiently without relying on seasonal
Slide 38: Managing capital and leverage buffers above requirements
CONFIDENTIAL Managing capital and leverage buffers above requirements • Minimum CET1 requirement broadly unchanged at 10.5% CET1 position materially above requirements1,2 14.2% 14.3% − No material change to Pillar 2A requirement 13.8% • Basel 3.1 implementation extension to 1.1.2027 CET1% 10.5% CCB
Slide 39: MREL: Well-positioned for future growth and requirements
CONFIDENTIAL MREL: Well-positioned for future growth and requirements • MREL ratio of 33.3% meets requirements with a buffer of ~520bps External MREL position versus requirements 33.3% • Total Group MREL of ~$87bn 28.1% $13.5bn • MREL requirement is higher of: Combined Buffer PLC Senior 3.9%1 12.6%
Slide 40: Good progress on delivery of funding programme
CONFIDENTIAL Good progress on delivery of funding programme • 2025 MREL issuance plan of ~$7bn broadly completed with focus on Holdco Senior Maturity & Call schedule of existing stock ($bn)1,2 9.0 − $5.5bn senior and $1.0bn AT1 issued YTD 7.9 7.9 1.3 − To consider 2026 pre-funding opportunities in H
Slide 41: Stronger risk foundations supporting resilient performance
CONFIDENTIAL Stronger risk foundations supporting resilient performance • Key portfolio indicators improved since FY’14 reflecting: Risk indicators bps − Strengthening of Group’s risk culture and tightened risk appetite 200 100% − Increased diversity by industry sector, product and geography 83% 90%
Slide 42: Group strategy to support and improve credit ratings
CONFIDENTIAL Group strategy to support and, over time, improve credit ratings • Well-rated with strong credit fundamentals, absolutely & relative to peers Senior long-term and short-term ratings − Well-established network is a strength S&P Moody’s Fitch − Funding and liquidity are key strengths A+ A
Slide 43: Standard Chartered Group: simplified legal structure
CONFIDENTIAL Standard Chartered Group: simplified legal structure Standard Chartered PLC MREL: Holdco Senior, Tier 1 & AT1 BBB+/A31/A (S&P/Moody’s/Fitch) Equity CP / CDs Standard Chartered Bank Standard Chartered Bank (Hong Kong) Medium Term Notes A+/A11/A+ A+/A12/- Structured Products Principal Bra
Slide 44: Select technical and abbreviated terms (1/2)
CONFIDENTIAL Select technical and abbreviated terms (1/2) Term Definition Term Definition Adj. Adjustments EA (NPP) Early alerts (non-purely precautionary) AIEA Average interest earning assets A borrower’s account which exhibits risks or potential weaknesses of a ASEAN Association of Southeast Asian
Slide 45: Select technical and abbreviated terms (2/2)
CONFIDENTIAL Select technical and abbreviated terms (2/2) Term Definition Term Definition MDA Maximum distributable amount QoQ Quarter-on-quarter min. Minimum RWA Risk-weighted assets. A measure of a bank’s assets adjusted for their MREL Minimum requirement for own funds and eligible liabilities ass
Slide 46: Important notice
CONFIDENTIAL Important notice Forward-looking statements The information included in this document may contain ‘forward-looking statements’ based upon current expectations or beliefs as well as statements formulated with assumptions about future events. Forward-looking statements include, without li