Strategic Shareholder Climate and Risk Financial Financial Barclays PLC 09 report information sustainability report Governance review review statements Annual Report 2022 Chief Executive’s introduction (continued) We see clear opportunity for financial services to Managing Barclays excellently contribute new approaches to address complex Our strong support of wholesale clients and issues including energy independence and consumers this year has shown Barclays efficiency, housing and economic growth, where operating at its best, with empathy, skill and drive. the scale would be challenging for public finance Our strong support of wholesale Unfortunately, in 2022, we also discovered that alone. With Brexit behind us, the UK has an we had issued approximately $17.7bn of opportunity to shape the UK financial services securities more than we were permitted to do clients and consumers this year sector best to support that work. We will use our under shelf registration statements we had filed data and our expertise in markets, sectors and with the US Securities and Exchange our clients to advance ideas, build common has shown Barclays operating at its Commission (SEC). When the matter surfaced, cause with others and ultimately be good we promptly reported it to our regulators, stewards for our Company and for our country. elected to make a rescission offer to eligible best, with empathy, skill and drive. purchasers, and settled the related regulatory Thank you investigation by the SEC. The net cost to a We have achieved a great deal this year, Barclays was £720m, including $200m (£165m ) progressing our objectives and supporting in penalties paid to the SEC. We commissioned • Simplicity: we strive for simplicity and Core to our own success has been the customers and clients. None of this would be an internal review and an external one, led by efficiency in product design and delivery, institutional strength of the UK: the rule of law, possible without the skill and dedication of our experienced outside counsel. seeking out opportunity for automation the fairness and transparency of our regulators, colleagues across Barclays. I am grateful to every an availability of superb financial talent and one of them for their hard work and commitment Our shareholders and the management want • Diversity of thought: we champion new infrastructure and a disciplined business culture. to our Purpose. Barclays to perform at a consistently very high thinking, and challenge the status quo, to help The health of the financial sector in the UK level, day in and day out. Therefore, towards the us achieve excellence. depends on the overall health of the UK and vice- end of 2022, we established a change Only by achieving these objectives to the fullest versa, given the importance of finance to the UK. programme, alongside our Purpose, Values and will we create leading franchises and leave a Mindset, to set such a standard of consistent As I described above in relation to the transition strong legacy for the future. C. S. Venkatakrishnan excellence. We are holding ourselves to that high to a low-carbon economy, the combination of Group Chief Executive, Barclays standard across: Supporting the UK government and capital markets skilfully applied is a strong lever to achieve powerful and far- • Service: accepting nothing less than world- The United Kingdom has been our home for 330 See our strategy + reaching goals. We are ambitious to help with Page 12 class service for clients and customers years. Here we have helped the nation prosper, See our approach to managing risk forming and executing an agenda for progress in and here we have prospered. Page 56 • Precision: our operations, risk management the UK. We recognise that public spending is See how we act in our society and environment and controls should run efficiently with no Serving the UK has been a central tenet of our Page 39 constrained and essential services like education, Go online at unacceptable disruptions or history, from 1690, when our Quaker founders health and social care are a priority for the UK home.barclays/annualreport unanticipated losses financed maritime trade from Lombard Street in Government. We also recognise that capital London, to 2022, when, in the throes of a sell off • Focus: we pursue projects and businesses markets are complex and, given a chequered in UK assets, we led the issuance of £4.5bn of where we can be consistently excellent, and do history in the deployment of private capital for Green Gilts for the Treasury. not dilute our energy or focus with activity public good, we are still rebuilding public trust in where we will not financial services. Note: a Exchange rate USD/GBP 1.22 as at 30 June 2022.