Strategic Shareholder Climate and Risk Financial Financial Barclays PLC 207 report information sustainability report Governance review review statements Annual Report 2022 Remuneration report (continued) Fair pay for the lowest paid Fair pay Paying fairly for work done, in a simple and • Responded to cost-of-living challenges by bringing transparent way. forward part of the 2023 pay increase budget, at a glance awarding our most junior colleagues in the UK and • Continued to progress our work on global living in some European countries a salary increase wages, reviewing all our locations around the world effective from August 2022 and November 2022 to ensure we pay at least the living wage respectively • Simplified incentives for colleagues in US contact We have developed our • Introducing a simpler and more transparent centres by replacing four historical plans with a approach to pay for most junior UK roles from single, consistent and more transparent approach fair pay approach over a March 2023 number of years and we Equal opportunities to progress continue to ensure that Providing equal employment opportunities to all, • Reinforced the right behaviours through our so everyone can enjoy a successful career at recognition programme, with a colleague being Barclays. recognised on average every 45 seconds in 2022 fairness is a key, and • Enhanced our continuous performance • Achieved our Race at Work Ambition to double the management cycle to focus on two of our global number of Black Managing Directors by the end of 2022 explicit, consideration in priorities, Diversity, Equity and Inclusion, and Risk • Set a new Race at Work Ambition to increase the and Control, through communication and population of Managing Directors from the way we make all of eLearning underrepresented ethnicities by at least 50% by the end of 2025 our pay decisions. Barclays PLC Fair Pay Report 2022 can be found Communicating with colleagues + online at home.barclays/annualreport Engaging with colleagues to understand their views • Published additional information for colleagues to With the rising cost of living, our on the culture of the organisation and enabling the explain how the Group’s pay and performance representation of employees in our remuneration approach aligns to the Fair Pay Agenda commitment to fair and appropriate pay is decision-making process. • Our Inclusion Index measures how included our more important than ever. • Engaged with Unite the union on a range of topics colleagues feel. For 2022 it is 82%, up from 79% in 2021 During 2022, we continued our work on including cost-of-living and fair pay, and agreed a • Our Wellbeing Index measures how colleagues feel 2023 UK pay deal providing our lowest-paid this and as a result we were well positioned about their wellbeing. For 2022 it is 86%, up from colleagues a total average annual salary increase 84% in 2021 to take rapid action to support colleagues budget of 11% in response to sharp increases in the cost of living, through pay increases for our Alignment of employee and Executive Director pay lowest paid colleagues. We also factored in Linking both Executive and employee pay to • Pay outcomes continue to be aligned with financial cost inflation during the annual salary sustainable business performance. and non-financial performance review impacting 2023 salaries. • Our pay policies are strongly aligned across the • 2023 salary increase budget for the most junior We continue to strive for greater wider workforce, senior employees and Executive colleagues in the UK is 11%, US is 9% and India is transparency in our approach to pay, and Directors of Barclays PLC 10%. The budget for more senior employees is smaller. The Group Chief Executive and Group as part of this during 2022, we simplified • Where pay policies differ, this is aligned to Finance Director will receive 3.4% and 4.3% differences in seniority and ability to influence the reward structures for some of our respectively business performance lowest paid colleagues in the UK and US. This is our fifth year publishing a Fair Pay Equal pay commitment Report and we will continue to use the report to engage with our stakeholders on Rewarding employees fairly for their contribution • All grievances raised by employees, including any and making sure pay and performance decisions issues relating to pay, are investigated pay, explaining our approach to fair pay, never take into account any protected • Robust processes in place to review pay and including the alignment of approaches to characteristics performance decisions to ensure outcomes Executive Directors’ and employee pay. • Explicit communication to managers that pay remain fair and free from bias We encourage you to read the full report. decisions must not take into account gender, age, ethnicity, disability, sexual orientation, religion, marital status, pregnancy, maternity, parental leave or any other protected characteristic Key milestones: Five years of fair pay reporting Published our Equal Pay Published additional fair pay communication materials to Commitment for the first time our colleagues to explain how the pay and performance in the 2018 Fair Pay Report approach aligns to the Fair Pay Agenda Published our Fair Pay First global review of Aligned Executive Directors’ pension contribution Responded to the cost-of-living Agenda for the first time living wages, increasing with the wider workforce while simultaneously challenges in the UK and Europe by to articulate how we think minimum hourly increasing the contribution for our most junior UK bringing forward a portion of the about fair pay at Barclays rates in the US and India colleagues from 10% to 12% annual salary increase budget