Strategic Shareholder Climate and Risk Financial Financial Barclays PLC 155 report information sustainability report Governance review review statements Annual Report 2022 Directors’ report: Key Board Activities (continued) Strategy formulation and monitoring Topic Board activity Key decisions • Held regular business strategy sessions at meetings üApproved the Group's strategy. Strategic throughout the year and its annual corporate strategy review üApproved the 2022 Medium Term Plan (MTP). session. • Received Business/Function reviews to understand risks and opportunities in key business areas, including the Corporate and Investment Bank, US Consumer Bank, Private Bank and Barclays UK. • Participated in focus sessions on key ‘horizontal topics’ such as cyber, data and climate to understand the impact of these on the Group and where opportunities and risks may arise. • Considered the proposal to acquire Kensington üApproved the acquisition of Kensington Mortgage Strategic Mortgage Company and its strategic fit within the Group. Company. This transaction was also approved separately acquisitions by the Board of BBUKPLC. üApproved the Barclays Risk Appetite Statement. • Considered the Group’s overall risk profile and emerging Macroeconomic risk themes in view of events in both the macroeconomic and geopolitical üApproved the annual review of the Group Enterprise Risk and geopolitical environment, including rising rates and Management Framework. environment inflation and the increased cost of living. Oversaw the Details of the Board's response to the war in Ukraine are set Group's response to these pressures, including providing + out in our Section 172 statement in the Strategic Report on assistance to customers facing financial pressures and page 20. responding to the impacts of the war in Ukraine. Building an inclusive and equitable culture Topic Board activity Key decisions • Received updates on Group culture and colleague üConfirmed that Barclays' workforce policies and practices Culture, including engagement, including by way of the 'Your View' survey are consistent with Barclays' Values and support Barclays' Mindset results and monthly pulse surveys. long-term sustainable success. • Tracked management's progress in embedding the You can read more about the Board's engagement with Barclays Mindset - Empower, Challenge and Drive - + colleagues and other stakeholders during 2022 on page 150. through detailed measurements including the Mindset Indices tracked within Your View results. • Considered updates on the impact of hybrid working, including colleague experience of hybrid working to understand what works well for colleagues remotely and on site. • Received and considered updates on Barclays’ DEI- üApproved an updated Board Diversity Policy in December Diversity, Equity focused ambitions and activities, including the Race at 2022, which reflected new board diversity targets aligned and Inclusion Work Ambition, the Gender Ambition and progress with the FTSE Women Leaders Review and those set out in (DEI) towards creating an inclusive and equitable workforce to the FCA's diversity reporting requirements. underpin business performance. You can read more about the updated Board Diversity Policy on + pages 161 to 162. • Received updates on the new gender diversity targets set by the FTSE Women Leaders Review and considered the new FCA 'comply or explain' disclosure requirements regarding diversity reporting. Sustainability and climate Topic Board activity Key decisions • Discussed updates received from the Group Head of üApproved the Group’s ESG report for 2021. Sustainability Public Policy and Corporate Responsibility, including on üApproved the Group’s Modern Slavery Statement for 2021. key government and regulatory policy, climate, and reputation risk. Climate For information about the Board's activities in relation to climate matters, please see our Section 172 statement in the Strategic Report + on pages 19 to 20 and the climate spotlight on page 249.