Additional Tier 1

The Securities may be subject to the exercise of regulatory capital write-down and conversion powers, bail-in resolution powers or other powers by a relevant resolution authority or other government authorities.

Potential investors should also consider the risk that a Securityholder may lose all of its investment in the Securities and all of its claims to unpaid interest. Any principal, interest or other amounts written-off as a result of the application of either regulatory capital write-down or conversion powers or bail-in resolution powers would be irrevocably lost and holders of such Securities would cease to have any claims for: (i) the written-off principal amount of the Securities; and (ii) any unaccrued obligations or claims arising in relation to such amounts. In circumstances where the BoE (as the Resolution Authority) uses its bail-in resolution powers to reduce part of the principal amount of the Securities, the terms of the Securities would continue to apply in relation to the residual principal amount, subject to any modification to the amount of interest payable to reflect the reduction of the principal amount. Regulatory capital write-down or conversion powers or bailin resolution powers could also be exercised in respect of the Securities without the Securityholders receiving any Ordinary Shares or other compensation for the loss of their investment in the Securities. The Banking Act provides that, other than in certain limited circumstances as set out in the Banking Act, extraordinary governmental financial support will only be available to the Issuer as a last resort once all resolution tools, including the bail-in resolution powers above, have been exploited to the maximum extent possible. Accordingly, it is unlikely that Securityholders will benefit from such support even if it were provided.

Conversion

If a Conversion Trigger Event occurs, each Security shall be automatically and irrevocably discharged and satisfied by itsConversion into Ordinary Shares, credited as fully paid, and the issuance of such Ordinary Shares to the Conversion SharesDepositary to be held on trust for the Securityholders. The Conversion shall occur without delay upon the occurrence of a a Conversion Trigger Event.

Conversion Trigger Event

The Conversion Trigger Event shall occur at any time the CET1 Ratio is less than 7.00% The CET1 Ratio is calculated on aconsolidated and fully loaded basis.

Conversion Price

The Conversion Price per Ordinary Share in respect of the Securities is SGD [TBD], subject to certain anti-dilutionadjustments. As at the date of this announcement, the Conversion Price is equivalent to a price of £ [TBD], translated intoSingapore Dollars at an exchange rate of £ 1 = SGD [TBD].

Conversion Shares Offer

Not later than the 10th London business day following the Conversion Date, the Issuer may elect in its sole and absolutediscretion that the Conversion Shares Depositary makes an offer of all or some of the Ordinary Shares to be delivered onConversion to all or some of the Issuer’s Shareholders, at a cash price per Ordinary Share no less than the ConversionPrice.