Slides
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shawbrook Shawbrook Group plc Half Year 2026 Results Presentation 5 August 2026 Real world banking .
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2 Contents Contents Executive summary Financial performance Tech-driven efficiency and outlook Appendix
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3 Executive summary Executive summary1
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4 H1 26 results: disciplined financial execution Executive summary 1. Underlying return on tangible equity excludes the £8.4 million premium and the £1.9 million release of transaction costs ( and associated tax impacts) arising from the May 2026 tender of the Group’s existing AT1 issuance. Statutory return on tangible equity includes a deduction of £16.8 million in respect of AT1 whilst underlying return on tangible equity includes an AT1 coupon of £6.5 million. 2. Includes loans classified as assets held for sale of £276.9 million. Reiterating guidance today £195.5 million Underlying profit before tax (H1 25: £168.6 million) 18.1%1 Underlying return on tangible equity (H1 25: 18.3%) 26.5 pence Underlying basic EPS (H1 25: 23.1 pence) SUSTAINABLE RETURNS 10% annualised growth in loan book including OTD to £20.1 billion2 (FY 25: £19.2 billion) 36.4% Underlying cost to income ratio (H1 25: 40.0%) DISCIPLINED GROWTH & EFFICIENCY 57bps Cost of risk (H1 25: 42bps) 13.0% CET1 ratio (FY 25: 12.4%) 16.4% Total capital ratio (FY 25: 14.8%) ROBUST, RESILIENT FOUNDATIONS Strong financial performance: Underlying PBT up 16% YoY , delivering strong returns Tech-driven efficiency: continued investment in technology and efficiency improvements; underlying cost to APE efficiency improving 15bps to 1.59% Credit quality resilient: with net write-offs of 13bps well below the historical median of 29bps Further strengthened capital: c.60bps of CET1 accretion
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5 Executive summary Diversified markets Whether it is cost inflation or political uncertainty, volatility disperses opportunity – demand may be suppressed in some markets, but amplified in others Specialist at scale Increasingly sophisticated customer requirements favour specialist lenders with the expertise and scale to deliver tailored solutions Technology-enabled Data, automation and AI provide deeper insight and faster execution, helping us respond more quickly and effectively as customer expectations change Credit discipline Continuous portfolio monitoring and forward-looking risk management support resilient performance through changing market conditions Entrepreneurial culture Empowered specialist teams and streamlined decision-making enable us to act quickly and capture opportunities as markets evolve Diversified Markets Specialist at scale Entrepreneurial culture Technology-enabled Credit discipline A specialist model, built to adapt and scale
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6 Executive summary Net Loans (including OTD) (£ billion) Underlying PBT (£ million) Underlying RoTE (%) 18% Median RoTE since 2017 21% 16% 15% 8% 20% 20% 20% 18% 17% 18% 2017 2018 2019 2020 2021 2022 2023 2024 2025 H1 26 4.9 5.9 6.8 7.4 9.2 11.1 13.8 15.9 19.2 20.1 2017 2018 2019 2020 2021 2022 2023 2024 2025 H1 26 Rate cycle uncertainty and geopolitical tensionsCovid-19Take private / Brexit £37 billion Cumulative Originations since 2017 106 110 122 74 197 238 302 294 341 385 2017 2018 2019 2020 2021 2022 2023 2024 2025 FY 26E 16% Underlying PBT CAGR since 2017 2 Efficient growth and returns, proven across market cycles 1. Includes loans classified as assets held for sale of £276.9 million; 2. FY26E underlying PBT based on latest consensus est imates. 1
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7 Financial performance Financial performance2
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8 Financial performance (£ million) H1 26 H2 25 Change (%) H1 25 Change (%) Interest income and similar income 744.4 727.2 2 694.7 7 Interest expense (389.8) (388.9) 0 (383.8) 2 Net Interest Income 354.6 338.3 5 310.9 14 Other income 32.6 10.6 n.m 24.6 33 Net operating income 387.2 348.9 11 335.5 15 Administrative expenses (141.0) (133.1) 6 (134.3) 5 Impairment losses (50.7) (44.1) 15 (32.6) 56 Provisions - 0.2 n.m - - Underlying profit before tax 195.5 171.9 14 168.6 16 Underlying adjustments1 (0.9) (62.8) n.m (5.5) n.m Statutory profit before tax 194.6 109.1 79 163.1 19 Underlying basic earnings per share (pence) 26.5 23.4 13 23.1 15 A B D E A B D E C C Underlying PBT up 16%, driven by income growth and cost discipline Net interest income +14% to £354.6 million YoY, on the back of loan book growth and continued discipline on cost of funds Includes £25.8 million gain on sale (H1 25: £23.3 million) from OTD transactions in the period; this is not expected to recur at the same level in H2 Positive operating leverage maintained, with administrative expenses growing well below the pace of net operating income (+5% vs +15% YoY) Impairment losses increased to £50.7 million, reflecting the pre- 2022 development finance vintage 26.5p Underlying basic EPS, up 15% YoY Note: The above table may not tie due to rounding adjustments. 1.Total underlying adjustments: H1 26 (£0.9m) ((£1.0m) Corporate activity costs, (£0.9m) IPO related costs and £1.0m Provisions for liabilities and charges credit); H2 25 (£62.8m) ((£14.8m) Corporate activity costs, (£17.2m) IPO related costs, (£29.8m) IFRS 2 modification and (£1.0m) Provisions for liabilities and charges); H1 25 (£5.5m) ((£2.4m) Corporate activity costs and (£3.1m) IPO related cost s).
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9 Financial performance Loan book (incl. OTD) walk: FY 25 to H1 26 (£ billion) Annualised loan book growth: 10% 67% Risk weighting density A B D C A Balanced and disciplined growth, anchored to returns Note: The above table may not tie due to rounding adjustments. 1. Includes loans classified as assets held for sale of £276.9 million. 71% 19.2 20.1 1 Net RMB movement, adjusted for OTD trades 10% annualised loan book (including OTD) growth to £20.1 billion, delivered through a diversified portfolio, with selective origination. £17.7 billion net loan book held broadly flat by design SME book growth of £0.4 billion, supported by the ThinCats portfolio acquisition enhancing scale and mix RMB growth of £0.3 billion when adjusting for £1.3 billion of OTD transactions de-recognised JBR book growth of £0.1 billion, with Consumer finance stable as we put Unsecured Personal Loans and Blue Motor Finance into run-off B D C0.3 0.4 0.3 0.1 (0.1) 17.8 17.7 1.4 2.5 FY 25 Real Estate SME RMB JBR Consumer Finance run-off H1 26 Net loan book OTD
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10 Financial performance 1.6% Consumer Finance Retail Mortgage Brands Real Estate Group2: 5.5% (FY 25: 5.5%) (0.5)% 0.2% Attractive returns sustained across diversified portfolio Consumer Finance increased to 6.3%, driven by the exit of Unsecured Personal Loans and reallocation towards secured Motor Finance SME was stable, supported by disciplined front-book pricing and ThinCats acquisition Retail Mortgage Brands increased to 8.6%, supported by OTD execution and associated gain on sale. Excluding this gain, RMB increased to 5.4% Real Estate reduced to 4.7%, driven by a limited number of specific provisions Risk-Adjusted NOI1 / RWAs (H1 26) • Bubble size denotes size of loan book • Arrow denotes change since FY 25 Note: The above chart may not tie due to rounding adjustments. 1. Pre-tax net operating Income (inclusive of treasury income); 2. Group includes Operational Risk RWAs, which are not split out on a segment level. 6.3% 4.8% 8.6% 4.7% 0% 2% 4% 6% 8% 10% 12% SME
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11 Total loss allowance coverage remains strongStatutory cost of risk (bps) • Cost of risk of 57bps consistent with the Group’s historical level of credit performance • Cost of risk of 54bps when excluding the £2.6 million ThinCats acquisition day-one ECL charge on the c.£160 million loan portfolio acquired in Q1 2026 • Cost of risk of 37bps when also excluding the ring-fenced pre-2022 development finance cohort, coverage on this cohort increased to 34.9% (FY 25: 25.9%) Financial performance 38 62 60 42 64 31 42 59 57 - 10 20 30 40 50 60 70 H1 22 H2 22 H1 23 H2 23 H1 24 H2 24 H1 25 H2 25 H1 26 C B A Cost of risk within long-term range, coverage remains strong FY 25 H1 26 Coverage Ratio (%) Gross carrying amount (£bn) ECL (£m) Coverage Ratio (%) CoR Real Estate 0.7 8.0 63.6 0.8 28bps SME 2.2 4.8 132.1 2.8 155bps Consumer Finance 3.1 1.0 28.9 2.8 100bps Retail Mortgage Brands 0.4 4.0 15.2 0.4 (3)bps Total 1.14 17.8 239.8 1.35 57bps Total excl. day-one ThinCats 17.6 237.2 1.34 54bps Pre-22 cohort of dev fin loans 0.1 51.5 34.9 n.m Total excl. pre-22 cohort of dev fin loans 17.5 185.7 1.06 37bpsC B A
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12 Financial performance ECL stages as a % of gross loansA A B C Resilient credit performance Note: 1. Stage balances include loans classified as assets held for sale of £276.9 million. Excluding these, stage 1 was 88.2%, stage 2 was 7.7% and stage 3 was 3.8%; 2. Purchased or Originated Credit -Impaired gross loans increased from £40.3 million at 31 Dec 2025 to £55.2 million at 30 June 2026 reflecting the allocation of certain of the acquired ThinCats portfolio. The stage mix has held broadly stable across the last three half year periods Stage 1 balances remained the dominant share of the book at 88.4% at H1 26 Stage 3 up modestly to 3.7% from FY 25, driven by the timing of exits on the pre-2022 Development Finance vintage which remained in Stage 3 Arrears remain stable at 1.7% (FY 25: 1.6%, Q1 26: 1.7%), and net write-offs of 13bps well below historical median B C 87.9% 88.9% 88.4% 7.9% 7.7% 7.6% 4.0% 3.1% 3.7% 0.2% 0.3% 0.3% H1 25 FY 25 H1 26 Stage 1 Stage 2 Stage 3 POCI 1 2
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13 96.0% Financial performance Scaled, high-quality retail base • 4.9% annualised deposit growth to £18.8 billion • c.96% FSCS insured; c.91% retail funded • £41k average deposit size • Strong liquidity: LCR 166%; NSFR 127% Cost discipline through cycle • Cost of deposits down to 3.80%2 • Pricing broadly aligns to reference rates; however, we have seen recent heightened competition in parts of the retail deposit market Digitally enabled, diversified distribution • 86% 3 digital instructions, 35%4 reduction in customer contact • Multi-brand and partner access via 7 partners, £7.0 billion5 partner balances Resilient funding capability focused on product and channel diversification, anchored on service quality £15.8bn £18.4bn £18.8bn Loan to deposit ratio 96.8% 93.9%1 Diversified funding base, managed with discipline Note: 1. Includes loans classified as assets held for sale of £276.9 million; 2. Cost of deposits restated to include partner commi ssions; 3. 86% of customers applied for a maturity instruction digitally on average following the full roll out of the digital plat form at June 2026; 4. 35% reduction in calls and SMS when comparing H1 25 to H1 26; and 5. Total partner balances as at 30 June 2026. Structural advantages underpin pricing 4.27% 3.92% 3.80% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% - 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 FY24 FY25 H1 26 Fixed Rate Easy Access Notice Stock cost of deposits 6% 38% 56% 6% 39% 55% 7% 44% 49%
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14 Financial performance 0.9% organic capital accretion, reflecting retained earnings, partially offset by RWA growth from lending. Includes OTD benefit of c.57bps from derecognition of loans and £25.8 million gain on sale Corporate activity, includes RWA growth from the ThinCats portfolio acquisition CET1 surplus of £410 million, equivalent to 3.3% headroom above the 9.7% CET1 requirement Agreed disposal of the £0.3 billion Blue Motor Finance loan book on 4 August 2026, completion expected in H2 26 3 Well positioned for Basel 3.1, and remains unchanged - expected c.£1 billion uplift in RWAs and c.90bps CET1 impact 4 CET1 Capital Ratio walk (%) A B C 0.9% organic capital accretion £410m 3.3% surplus to requirements A C 14.8% 16.4% Total Capital Ratio 1 B Strong capital generation, building up for expected Basel 3.1 impact Note: The above chart may not tie due to rounding adjustments 1. Statutory PAT includes the post tax AT1 coupon and gain on sale; 2. Other is driven by an increase in Operational Risk RWA s of (14bps), and the May 2026 tender of the Group’s existing AT1 issuance of (6bps) (£8.4 million premium and £1.9 million release of transaction costs (and associated tax impacts)); 3. expected to contribute c.10bps of CET1 on completion in H2 26; and 4. 90bps at a pro- forma 12.5% CET1 ratio. 12.4% 1.1% (0.3%) (0.1%) (0.2%) 13.0% 9.7% FY 25 CET1 % Statutory PAT post AT1 coupon RWA growth Corporate activity Other H1 26 CET1 % H1 26 CET1% requirement 2
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15 Financial performance Reiterating FY 26 guidance; medium-term1 unchanged 1. Medium-term guidance: Loan book growth of low double digits (based on a CAGR from FY24); Cost to income ratio of mid 30s; Underlying profit before tax growth of mid- high teens; Underlying return on tangible equity of high-teens; progressive build of ordinary dividend and a CET1 ratio of 12-13%; 2. The CET1 ratio guidance includes the foreseeable dividend expected to be paid in 2027; and 3. RoTE computed on CET1 assuming a Target CET1 Ratio of 12.5%. Loan book (incl. OTD) c.£21 billion Cost to income ratio <38% CET1 ratio >13.2% (pre-Basel 3.1)2 Underlying return on tangible equity3 c.17% Dividend policy Maiden ordinary dividend in respect of FY26 results, payable in FY27
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16 Tech - driven efficiency and outlook Tech-driven efficiency and outlook3
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17 Core cost base reducing on a normalised basis1, whilst growing the organic loan book (incl. OTD) c.14% YoY 5.0% decrease YoY 40.0% / 1.74% Underlying C:I / C:APE ratio Jaws trend continues to accelerate Build: inception - 2017 Scale: 2017 - 2020 Optimise: 2020 onwards Tech - driven efficiency and outlook Rebased to 100 0x 2x 4x 6x 8x 10x 12x 14x FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 H1 26 Net operating Income Administrative expenses c.7x c.13x 36.4% / 1.59% Disciplined cost base underpins widening positive jaws Note: 1. To present core costs on a comparable basis, we have normalised the core cost base to remove BoE base Levy (H1 25: £2.5m and H1 26: £2.6m) and include acquisition related impact from ThinCats and Playter costs as if we had had these costs for the ful l 12 months of 2025. The H1 25 and H2 25 impact to reported underlying costs from ThinCats is £12.0m and £5.7m respectively, and from Playter is £1.9m and £1.5m respectively. 145.7 140.3 138.4 131.8 133.1 138.4 13.9 7.2 H1 25 H2 25 H1 26 Core cost base Acquisition related impact
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18 Merging BML, TML and Real Estate operations teams to realise cost synergies Merging teams 1 Team for TML, BML and Real Estate operations Migrating customers to a common core banking platform, allowing us to serve more efficiently Unifying technology Common Core for servicing across our markets Exiting satellite offices; consolidating into fewer, well-connected hubs Consolidating sites 3 Hubs operating across the United Kingdom Withdrawing the Shawbrook brand from unsecured SME; all new originations via Playter Scaling SME Playter for all new unsecured SME loans c.35% reduction in customer contact, driven by AI-enabled self-service, with CSAT remaining at 92% Automating processes c.35% reduction in customer contact vs. H1 25 We have been pulling multiple levers in 2026 to further streamline our platform, driving further efficiencies, with the core cost base down 5% YoY These levers support a clean foundation for AI to deliver the next phase of operational leverage Delivering growth through operational discipline Tech - driven efficiency and outlook
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19 Having streamlined our platform, we are now building, testing and deploying agentic AI systems across each stage of the lending cycle - freeing people to focus on relationships, oversight, and judgement that technology cannot replicate Real Estate portfolio management agent automating annual portfolio reviews Multi-agent system triaging inbound SME enquiries and producing Indication of Terms. Real Estate system synthesising information and generating valuation review documents Origination Underwriting Portfolio Management Creates same-day Indication of Terms for qualifying deals, potentially saving days per deal and increasing conversions Targeting a reduction in time spent underwriting tasks by up to 50% alongside faster identification of risks Targeting a reduction in annual review turnaround time to less than a day Generative AI is already delivering tangible results today - an early proof point for the efficiency this next phase can unlock bank-wide c.9x DESIGN 1 productivity gain by AI assisted work Up to 85% DEVELOP 1 of code written by AI agents Up to 100% REVIEW AND QA 1 of code auto- reviewed by AI agents Tech - driven efficiency and outlook Unlocking the next phase of efficiency gains with AI Note: 1. Internal case study - figures measured for individual teams, to be scaled bank -wide.
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20 H1 26 reinforces confidence in the strategy and growth opportunity Strategy delivering Sustained growth, returns and capital generation within disciplined risk management Execution driving strong financial performance Scale, investment and operating leverage translating into attractive returns Resilient fundamentals Robust credit quality, diversified funding and balance sheet strength Unlocking the next phase of efficiency gains Operational discipline, technology investment and AI adoption creating scope for sustained cost benefits Strong momentum across the business, supported by our diversified offering, continued investment and multiple opportunities to drive efficient growth Tech - driven efficiency and outlook
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21 Appendix Appendix4
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22 A B C D E Appendix Ratios and KPIs (%) H1 26 H2 25 Change (%) H1 25 Change (%) Resilient margins Gross asset yield 8.8 8.7 0.1 9.3 (0.5) Liability yield (4.4) (4.6) 0.2 (5.0) 0.6 Net interest margin 4.38 4.12 0.26 4.35 0.03 Memo: Net interest margin (excl. GoS) 4.09 3.98 0.11 4.05 0.04 Scalable, efficient growth Loan book (£bn) 17.71 17.8 (0.7) 15.8 11.6 Memo: Loan book (incl. OTD) (£bn) 20.11 19.2 5.0 17.0 18.3 Underlying cost of risk (0.57) (0.52) (0.05) (0.42) (0.15) Underlying cost to income ratio 36.4 38.1 (1.7) 40.0 (3.6) Underlying cost to APE efficiency ratio (1.59) (1.57) (0.02) (1.74) 0.15 Underlying RoTE 18.1 16.8 1.3 18.3 (0.2) Strong Capital and Liquidity position CET1 ratio 13.0 12.4 0.6 13.1 (0.1) Total Capital ratio 16.4 14.8 1.6 15.8 0.6 Liquidity coverage ratio 166 147 19 130 36 NIM increased to 4.38% (4.09% excluding the gain on sale), supported by continued discipline on deposit pricing Underlying cost to income ratio improved to 36.4%, demonstrating structural operating leverage built through deliberate investment Underlying RoTE of 18.1%, underpinning sustainable shareholder returns CET1 accretion of c.60bps to 13.0%, delivered through underlying capital generation 16.4% total capital ratio supported by the £250 million AT1 issuance in May A B D E C Note: The above table may not tie due to rounding adjustments. 1. Includes loans classified as assets held for sale of £276.9 million.
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23 Appendix FY 25 H1 26 Change (%) Assets Cash and balances at central banks 1,925 2,264 18 Loans and advances to banks 247 282 14 Loans and advances to customers 17,770 17,372 (2) Investment securities 2,158 2,602 21 Derivative financial assets 88 89 1 Property, plant and equipment 55 58 6 Intangible assets 146 149 2 Current tax receivable and deferred tax assets 32 62 96 Other assets 50 37 (26) Assets held for sale – 277 n.m. Total assets 22,469 23,191 3 Liabilities Amounts due to banks 1,431 1,761 23 Customer deposits 18,354 18,799 2 Provisions 8 4 (53) Derivative financial liabilities 93 53 (43) Debt securities in issue 412 172 (58) Lease liabilities 25 27 7 Other liabilities 132 105 (21) Subordinated debt liability 172 172 – Total liabilities 20,626 21,091 2 Equity Share capital 3 3 – Share premium account 135 135 – Capital securities 123 268 118 Capital contribution reserve 20 20 – Cash flow hedging reserve 5 7 43 Fair value through other comprehensive income reserve 44 23 (48) Retained earnings 1,514 1,645 9 Total equity 1,843 2,100 14 Total equity and liabilities 22,469 23,191 3 Strong balance sheet (£ million) Note: The above table may not tie due to rounding adjustments.
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24 Appendix Real Estate (£ billion) SME (£ billion) CAGR: 33%CAGR: 11% 0.7 0.8 0.8 0.7 0.9 1.0 0.6 0.8 0.90.6 0.7 0.7 0.2 0.2 0.3 0.7 0.9 0.2 0.2 0.2 3.1 4.4 4.8 FY24 FY25 H1 26 Development finance Speciality finance Financial Sponsors Corporate leverage Asset based lending ThinCats Digital business lending 4.4 5.0 5.1 1.8 2.2 2.40.2 0.2 0.2 0.3 0.3 0.2 6.8 7.6 7.9 FY24 FY25 H1 26 Buy-to-let Commercial Investment Bridging finance Run-off portfolios Commercial loan book Note: The above graphs may not tie due to rounding adjustments.
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25 Appendix CAGR: 16%CAGR: 9% 0.3 0.4 0.4 0.6 0.7 0.6 0.9 1.0 1.0 FY24 FY25 H1 26 Motor finance Run-off portfolios 2.1 2.4 1.8 1.2 1.3 1.0 1.2 1.0 1.1 0.7 1.4 2.5 5.2 6.1 6.5 FY24 FY25 H1 26 TML buy-to-let TML owner-occupied mortgages BML owner-occupied mortgages Originate to distribute 1 Retail loan book Consumer Finance (£ billion) Retail Mortgage Brands (£ billion) Note: The above graphs may not tie due to rounding adjustments. 1. Includes loans classified as assets held for sale of £276.9 million
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26 Appendix Funding mix Liquidity mix 91% 1% 8% Retail deposits Public securitisation Amounts due to financial institutions £20.7 billion £4.8 billion 44% 23% 19% 14% BoE Reserve Account LAB Investments Wholesale Funding Contingent Liquidity Funding and liquidity mix Funding mix actively managed across retail, securitisation and wholesale channels to balance cost and diversification Diversified funding base supported by an established securitisation platform No fixed-rate exposure across treasury and liquidity portfolios Strong liquidity ratios with an LCR of 166% (FY25: 147%) and NSFR of 127% (FY25: 125%)
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27 Appendix Capital position relative to requirements as at 30 June 2026 £338m / 2.7% surplus to requirements £410m / 3.3% surplus to requirements CET 1 Capital Total Capital 13.0% CET1 Ratio 4.5% 0.7% 2.5% 2.0% 9.7% Requirement CCyB CCoB Pillar 2a Pillar 1 13.0% 2.1% 1.3% 16.4% Total Capital Ratio Tier 2 AT1 CET1 8.0% 1.2% 2.5% 2.0% 13.7% Requirement CCyB CCoB Pillar 2a Pillar 1 Regulatory capital position and capital structure
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28 Appendix CET1 AT1 Tier 2 Total RWAs (£m) 12,477 Pillar 1 4.50% 1.50% 2.00% 8.00% Pillar 2A 0.70% 0.23% 0.31% 1.24% CRD IV Buffer CCoB 2.50% 2.50% CRD IV Buffer CCyB 2.00% 2.00% Total Requirement 9.70% 1.73% 2.31% 13.74% Total Requirement (£m) 1,210 216 288 1,714 Capital Resources (£m) 1,620 268 164 2,052 Surplus (£m) 410 52 (124) 338 Capital 13.0% 16.4% Regulatory capital position vs requirements Capital position vs requirements as at 30 June 2026
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29 Appendix Probability Weighting Scenario Economic measure 2026 2027 2028 2029 2030 Base case (50%) GDP 1.0% 1.3% 1.6% 1.6% 1.6% Unemployment 5.6% 5.3% 5.1% 4.7% 4.4% House price growth 0.0% 1.7% 2.8% 2.6% 2.4% CPI 3.5% 2.0% 2.0% 2.0% 2.0% Bank base rate 3.75% 3.25% 2.75% 2.75% 2.75% Upside (10%) GDP 1.3% 2.5% 2.4% 1.6% 1.6% Unemployment 4.9% 4.3% 4.1% 4.1% 4.1% House price growth 3.7% 5.1% 3.9% 4.0% 3.8% CPI 3.4% 1.8% 2.0% 2.0% 2.0% Bank base rate 3.50% 2.75% 2.75% 2.75% 2.75% Downside (30%) GDP 0.4% (1.7%) 1.4% 2.4% 2.2% Unemployment 5.8% 6.2% 5.6% 5.3% 4.9% House price growth (3.0%) (8.7%) 0.9% 3.2% 4.1% CPI 3.5% 0.7% 2.0% 2.0% 2.0% Bank base rate 3.75% 2.00% 2.75% 2.75% 2.75% Severe downside (10%) GDP 0.0% (3.2%) 0.0% 2.0% 2.5% Unemployment 6.3% 8.0% 8.0% 7.1% 6.2% House price growth (4.6%) (13.6%) (1.3%) 4.3% 4.5% CPI 6.4% 5.5% 3.3% 2.5% 2.0% Bank base rate 5.25% 5.25% 4.50% 3.25% 2.75% Base Upside Downside Severe Weighting 50% 10% 30% 10% Impact of 100% weighting £223.6m £211.2m £256.7m £298.3m Variance to reported (£16.2m) (£28.6m) £16.9m £58.5m Economic Outlook
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30 Appendix IMPORTANT You must read the following before continuing. The following applies to the presentation materials contained in this document and to all statements made during the delivery of the presentation and related question-and-answer session. You are therefore advised to read this carefully before attending the presentation and/or reading, accessing or making any other use of the presentation materials. In accepting these presentation slides and/or attending this presentation, you agree to be bound by the following terms and conditions. This presentation has been prepared by Shawbrook Group plc (“Shawbrook”). This presentation is for informational purposes only and should not be relied upon for any other purpose. This presentation and the statements and opinions contained herein are not to be construed as legal, business, financial or tax advice and do not constitute or form part of, and should not be construed as, an offer, invitation or solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this presentation or otherwise. This presentation should not be considered as a recommendation that any person should subscribe for or purchase or otherwise deal in any securities. Any person who subsequently considers taking any such action must not rely on any information contained in this presentation. The taking of any such action should be independently determined by such person. No part of this presentation shall form the basis of, or shall be relied upon in connection with, any contract or commitment whatsoever. No person is authorised to give any information or to make any representation not contained in and not consistent with this presentation and, if given or made, such information or representation must not be relied upon as having been authorised by or on behalf of Shawbrook. No person shall have any right of action (except in case of fraud) against Shawbrook or any other person in relation to the accuracy or completeness of the information contained herein. To the fullest extent permitted by applicable law, neither Shawbrook nor any of its affiliates, agents, directors, officers or employees accepts any responsibility whatsoever for, or any liability for any loss howsoever arising, directly or indirectly, in respect of or in connection with this presentation or its contents, or makes any representation or warranty, express or implied, as to the contents of this presentation or for any other statement made or purported to be made by it, or on its behalf, including (without limitation) information regarding Shawbrook and its subsidiaries (the “Group”) and no reliance should be placed on the fairness, accuracy, completeness or correctness of such information. The statements contained in this presentation are made as at the date of this presentation, unless some other time is specified in relation to them, and delivery of this presentation shall not give rise to any implication that there has been no change in the facts set out in these presentation slides since that date. Shawbrook undertakes no obligation to provide the recipients of this presentation with access to any additional information or update to the information contained herein, or to correct any inaccuracies herein which may become apparent, except to the extent required by law or regulation. Forward-looking statements Certain information contained in this document, including any information as to the Group’s strategy, plans or future financial or operating performance, constitutes “forward-looking statements”. Statements that are not historical facts, including statements about the beliefs and expectations of Shawbrook and the Group and Shawbrook’s directors or management, are forward-looking statements. Words such as "believes", "anticipates", "estimates", "expects", "intends", "plans", "aims", "potential", "will", "would", "could", "considered", "likely", "estimate", “targets” and variations of these words and similar future or conditional expressions, are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend upon future circumstances that may or may not occur, many of which are beyond the control of Shawbrook or the Group and all of which are based on Shawbrook’s current beliefs and expectations about future events. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Shawbrook or the Group, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the present and future business strategies of Shawbrook and the Group and the environment in which Shawbrook and the Group will operate in the future. These forward-looking statements speak only as at the date of this presentation, and, except to the extent required by law or regulation, Shawbrook assumes no responsibility to update any of the forward-looking statements herein. Nothing in this presentation should be construed as a profit forecast. Non-IFRS performance measures Shawbrook believes that any non-IFRS performance measures included in this document provide a more consistent basis for comparing the Group’s performance between financial periods and provide more detail concerning the element of performance which Shawbrook is most directly able to influence or which are relevant for an assessment of the Group. They also reflect an important aspect of the way in which operating targets are defined and performance is monitored by the Board. However, any non-IFRS performance measures in this presentation are not a substitute for IFRS measures and readers should consider the IFRS measures as well. Refer to the “Alternative performance measures” section in the Shawbrook 2026 Interim Financial Report for further details, reconciliations and calculations of non-IFRS measures included throughout this presentation, and the most directly comparable IFRS measures. Shawbrook’s 2026 interim results are available at https://www.shawbrook.co.uk/about-us/investors/results-centre/ Disclaimer