Saving

Turning next to cost savings, where we remain on track to achieve our 250 million target net of inflation by the end of this year.

On a run rate basis, we have achieved 210 million of savings up to the end of June, 2026.

Savings on an earned basis in the first half of 2026 were 95 million, which was some 55 million higher year on year, with broadly two-thirds of this uplift reported through earnings, and the remaining one-third accounted through the CSM.

The chart on the left depicts the delivery timing of the 250 million cost savings, with the final 40 million component expected in the second half of 2026.

On the right, the pie chart shows where the cost savings have come from, highlighting how we have structurally reduced our ongoing cost base through a combination of migrations to end-state platforms and business simplification.

And then from that point on, the margin will be, the overall profit margin will move effectively Some segments within our business have lower revenue fee margins than others.

And as the various segments grow faster than others, then there'll be a mix effect that comes through.

That mix effect has been net negative over the last few years as some high margin businesses the Pensions and Savings business from Aegon UK that has different profit characteristics at this stage the average margin is 11 basis points we're targeting 110 million savings which should push that margin up to 18 basis points are very attractive or being a little lower than that for seven eight basis points mark um so more headroom as as a savings um as cost savings be the completion of a program or the angle cost savings and then from that point on it's just a mixed effect

We've been saving, yes, sirree Everyone saves in our families So we planned us a trip The easy way with our

savings account And we leave today Now we've planned our green vacation Well, folks have their savings and loans We're swelled in a special account Plans were made So when we get home All our bills are paid Now we've got to get going to Katsy Jet We're gonna have fun but we won't be in debt Our savings account and our savings and loan Will be working for us until we get home Make your dream vacation come true See what your savings and loan can do See what your savings and loan can do

Yes, by saving a little every payday, at your nearby insured Savings and Loan Association, you can be ready for that dream vacation before you know it, and really enjoy it.

Start now.

Well, the Green Bay Packers have already started on the second field goal by Paul Horning.

Jack, it's been a pleasure working with you and this entire NBC crew, and I'll be looking forward to seeing all of you again in 1961.

Right, Blaine, thank you very much.

Your host for the first half of today's broadcast has been the Savings and Loan Foundation, representing the nation's 4,000 insured savings and loan associations, where savings work hard to earn extra income and are insured by an agency of the U.S. government.

Watch this.

That was $2,200 and $10,000 in the bank account, not in their savings, not in their, their margin, not in their investment.

That's their total.

They are one financial disaster away from a huge situation happening in their lives.

He has $6,000 in monthly take-home pay.

$6,400 is what he's spending every single month.

He has only $1,200 in savings, but he also has $8,000 of credit card debt, $8,000... uh, $18,000 in a car loan, $22,000 in student loans.

What do you see here that is wrong? What does his margin say? His margin says he has a negative of $400.

They came up together, which is kind of crazy.

I believe they were a part of the Save Money Collective back in Chicago.

Save

Money.

So I need you to pause, get the book, get y- get out of consumer debt.

Step two, if you're consumer debt-free and you have an emergency fund in place, this is what I'm talking about, three to six months of your net pay in a high yield savings account, then the only thing that you should be doing right now is investing.

[laughs] Now you're ready for this conversation, which leads me over to step three.

Again, you gotta open a brokerage account that allows fractional shares.