– We retain all of the Group financial targets we announced at our full year 2025 annual results in February 2026, including a RoTE of 17% or better for 2026, 2027 and 2028, excluding notable items. – The macroeconomic outlook is facing heightened uncertainty, creating volatility in both economic forecasts and financial markets resulting in both tailwinds and headwinds. The Group is well-positioned to manage the impacts of these challenges through our high-quality revenue streams, conservative approach to credit risk and strong deposit franchise. Supporting our clients through this volatile period is a top priority. – We now expect banking NII of around $46bn in 2026, reflecting an improved interest rate outlook, while recognising the outlook remains volatile and uncertain. We had previously provided banking NII guidance of at least $45bn for 2026. – We now expect an ECL charge as a percentage of average gross loans to be around 45bps (including held for sale loan balances) for 2026, reflecting ongoing uncertainty in the outlook. Our previous ECL guidance for 2026 was around 40bps of average gross loans (including held for sale loan balances). Over the medium term, we retain our planning range of 30-40bps. – We retain our commitment to Group-wide cost discipline. We continue to target growth in target basis operating expenses of approximately 1% compared with 2025. Our target basis operating expenses measure excludes notable items and includes the impact of simplification-related saves associated with our announced strategic reorganisation. – We intend to continue to manage the CET1 capital ratio within our medium-term target range of 14%–14.5%. A decision to recommence buy-backs will be subject to our normal buy-back considerations and process on a quarterly basis. – The Group is well positioned to manage the changes and uncertainties prevalent within the global environment in which we operate, including in relation to the conflict in the Middle East. As part of our periodic internal stress testing, we have modelled a range of integrated downside stress scenarios of increasing severity and duration, which include higher oil prices, rising inflation, a material slowdown in GDP, rising unemployment and market disruption. Under these scenarios, we could expect a mid-to-high single digit percentage