Stakeholder Dialogue 2013 Snapshot

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Our approach 3

Themes and observations 4

Dialogue Days 5

Key comments: vision, ambition and strategy 6

Key comments: integration into core business 7

Key comments: levers for driving performance and impact 8

Key comments: partnership and collaboration 9

Your Bank 10

Ideas brought to life 11

The Barclays Values Jam 13

Citizenship at Barclays 15

Contents

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Fostering a dialogue with key stakeholders is an important part of our approach to Citizenship.

We connect with stakeholders regularly to share information about our business, strategy, and performance, to help inform and drive further development of our Citizenship priorities and Plan, to identify emerging issues and shape our responses to them, and to determine opportunities to collaborate in pursuit of common goals.

We recognise that there are many stakeholders who still have concerns about the role of banking and Barclays. We are working to strike a balance between the views and needs of all of our stakeholders. This is a challenge, but we are committed to getting this right by listening, being transparent, opening our doors and engaging in a dialogue with stakeholders and critical friends.

We regularly engage with many stakeholders as part of our day-to-day operations. However, this report provides a summary of the key “set-piece” stakeholder engagements that we undertook in 2013, including external ‘Dialogue Day’ events which form an essential part of our engagement processes, an employee ‘Jam’ session and the new ‘Your Bank’ platform to connect with our retail customers in the UK.

Our approach

“At Barclays, Citizenship means taking into account the needs of all our stakeholders in everything that we do and taking decisions which, in the long-term, are positive for our customers and clients, shareholders, colleagues and the communities in which we operate.”

Antony Jenkins Group Chief Executive, Barclays

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The major themes and key observations that emerged from the events are as follows:

Feedback from external stakeholders:

• Define the vision, ambition and strategy

• Integration into core business

• Levers for driving performance and impact

• Partnership and collaboration

Feedback from our customers on Your Bank:

• Be more efficient

• Save time

• Do more when banking online or by mobile

Feedback from our colleagues via the Barclays Values Jam:

• Living the Values Every Day

• Being One Barclays

• Our Culture

• Achieving ‘Go-To’

Themes and observations

“How does Barclays plan to articulate its social and moral purpose as a bank in order to inspire employees and others?”

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Dialogue Days During 2013, Barclays conducted four Dialogue Days with external stakeholders: two in London, one in New York, and one in Johannesburg. These stakeholders included representatives from NGOs, think tanks, corporate clients, academia, government organisations, investors, consumer groups and industry bodies.

The London events focused on stakeholders’ current perceptions and expectations of the Barclays Citizenship agenda and the challenges ahead. The New York and Johannesburg events were broader in scope, encouraging dialogue and insights on the role that the corporate sector – and Barclays – can play in addressing sustainable development challenges and opportunities.

The following pages present the major themes and key observations that emerged from the events with respect to further developing our approach to Citizenship. It also outlines what we are doing to begin to respond to the thoughts, issues and concerns that were raised during these consultations.

We also ran sessions on three challenging issues at one of our London events. These were supporting enterprise (with a focus on small businesses), employability (with a focus on youth), and transparency. These are tough issues that we wanted to explore in depth with our stakeholders, and they sparked a lively and open debate.

For further information on these issues, the challenges they present, and how we are approaching them, please click here to see our 2013 Citizenship Report or visit barclays.com/citizenshipreport

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Stakeholders raised concerns about the lack of a Citizenship vision that reflects the scale of the societal challenges that lie ahead and the ambitious role that Barclays will play in addressing them.

Key comments Vision, ambition and strategy

What we are doingWe have listened to these challenges from our stakeholders, and we are considering them closely as we develop our strategy beyond the current 2015 Citizenship Plan. To do this we have formed a working group of key senior leaders from across our business to develop our ambition and strategy for 2020 and beyond. As part of this process we are running a series of workshops with external experts from across a range of disciplines, to test and further refine our ambition and strategy. We hope that our key stakeholders will help us collaboratively as we continue to shape this vision and set out the ambitious goals that will underpin it.

1. Clearly define Barclays’ vision: for itself, the financial services industry, and the societies it wants to be a part of, so that stakeholders understand Barclays’ ambition.

2. Raise the level of ambition: reach beyond incremental improvement to meet the scale of the challenge and the expectations of society.

3. Don’t forget environment: tackling environmental challenges needs to be integrated into lending and investment decisions and strategies.

4. Review the business model: the vision needs to address why – and how – the business model will evolve to address challenges and seize opportunities.

5. Think Group vs businesses: a universal bank must achieve a unified vision for the Group, and a clear destination for each of its businesses (including the investment bank).

“What are the societies Barclays wants to be a part of? What do you think the world should look like in 20 years?”

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Stakeholders were clear on what they would perceive as concrete evidence of integration into the core business, and emphasised the importance of leadership and internal capacity building in embedding Citizenship.

Key commentsIntegration into core business

1. Ensure senior leadership is provided in words, decisions and actions: this was seen as essential to help underline Citizenship’s importance to future success, signal intent, and give colleagues the licence required to innovate.

2. Seeing is believing: stakeholders emphasised capacity building as essential to equipping colleagues across the business with the skills, knowledge and resources to deliver.

3. Capacity building: stakeholders expect to see visible signs of integration, including changes to everyday products and services (not just flagship ones).

4. Ensure culture change is driven into middle management: stakeholders welcomed the culture change efforts but questioned how Barclays will change middle management’s mindset.

5. Accept it is a long and challenging journey: external thought leaders and representatives from other firms highlighted that there would be challenges along the way, and emphasised the need to embrace failure in order to spur a transformation in how the organisation innovates for positive impact.

What we are doingOne of our primary ‘Go-To’ objectives is to demonstrate that we are changing our decision-making. We are making great progress already, but we recognise that achieving our goal requires us to accelerate, collaborate and be brave. As part of this process, we have developed a Citizenship Lens, which provides decision-makers with an assessment tool to ensure we move beyond legal, regulatory and ethical considerations to consider broader societal impacts and concerns. We will be embedding this tool globally in formal decision-making processes such as new product development, throughout 2014, and we are currently rolling out training to more than 400 of our senior colleagues who will be responsible for driving the application of the Lens across their teams.

“If you are doing real work then this will come across as genuine... but if there is a perception that things are not stemming from core values and long-term interest... I think that people would see through this.”

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Stakeholders referenced a range of internal resources and external opportunities that Barclays should leverage to drive performance. Stakeholders said we should:

Key comments Levers for driving performance and impact

What we are doingWe have launched a Balanced Scorecard and a new approach to Performance Management. The Scorecard defines what we need to achieve over the next five years to help us become the ‘Go-To’ bank. It sets out what success looks like across each of our 5 Cs (Customer and Client, Colleague, Citizenship, Conduct and Company). We have agreed on eight key measures against which we and our stakeholders can hold ourselves to account and we are committed to reporting on our progress regularly. Our first report was shared with all stakeholders at our Full Year Results in February 2014.

1. Focus on brand and global (and local) presence: leveraging the company’s reach and convening power to influence peers, stakeholders and consumers.

2. Think about core skills, expertise and systems: such as financial valuation to support measurement and innovation, or leveraging colleague expertise directly in partnering initiatives.

3. Consider relationships: with suppliers, customers and partners. Engage with the supply chain, customer base and colleagues to generate connections and opportunities that can drive positive outcomes across the value chain.

4. Use data and information: to fuel product innovation, improve products and services, and partnership opportunities.

5. Use our ability to execute on strategy: leverage operational excellence as a key resource to bring to partnerships and collaboration.

“There is a real need for proper measurement and evaluation, which supports the assessment of various schemes, for example on youth unemployment. Barclays’ economists could make a major contribution by measuring this.”

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The dialogues provided valuable insights into the evolution of corporate collaboration and its critical importance. Stakeholders said we should:

Key comments Partnership and collaboration

What we are doingUncovering, developing and scaling solutions often require testing new often unconventional partnerships and distribution channels. Banking on Change, the partnership between Barclays, Care International UK and Plan UK, enables community groups to save collectively, manage their money better, access affordable loans and in many cases start or expand a small business. The Barclays Social Innovation Facility exists to accelerate the development of commercial solutions that directly address social challenges and involves working in collaboration with clients, NGOs and other stakeholders. Examples include our partnership with GlaxoSmithKline, which will help remove financial barriers to healthcare access while supporting small business development and job creation.

1. Broaden the scope and level of engagement: increase the breadth and depth of Barclays’ collaborative efforts (e.g. partnering with competitors, NGOs, customers, policymakers, public sector organisations and even investors).

2. Share the right assets: corporations’ knowledge and expertise, networks and relationships, and operational excellence, are far more valuable to partners than “writing cheques”.

3. Build transparency, trust and collaboration: transparency is a precondition for trust; trust is a pre-condition for collaboration; collaboration is necessary to solve key sustainable development challenges.

4. Be open to collaborating with unlikely bedfellows: in certain areas innovative partnerships with new emerging types of organisation may be required to scale impact (e.g. in the fast evolving SME banking and finance ecosystem). Consider how to use Barclays’ convening power to establish collaboration between key parties.

5. Commit to, cultivate, and evolve long-term partnerships: success is often dependent on the strength of individual relationships and trust forged over time.

“How important are partnerships to Barclays’ strategy? At what point is Barclays willing to give up ownership of an idea to enable more equitable partnerships?”

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Your Bank Our customers have a wealth of smart, practical ideas to improve everyday banking borne out of their daily experiences.

Your Bank is an always-on online community forum that allows our UK retail and business banking customers to share their everyday banking ideas with Barclays. These ideas are reviewed daily by our teams, and the best are implemented into working practices.

Three insights are evident from all the ideas that we have received from customers so far:

• Be more efficient. Customers want to do their day-to-day banking more efficiently.

• Save time. Customers want to save time doing their banking and dealing with Barclays through various channels.

• Do more. Customers want to be able to do more when banking online or on their mobile.

We have already begun to implement many ideas from our customers that will help shape our banking around their needs.

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Here is just a selection of commitments and changes Barclays has made since the launch of Your Bank:

Ideas brought to life

Overdrafts – We have had lots of ideas about overdrafts and are now undertaking a formal review of our overdraft charges to report early this year. We have also recently launched a new text alert service, allowing customers time to credit their accounts to avoid an unpaid transaction fee.

Online for under-16s – We are developing online basic banking for under-16s, which we will test with customers. Lots of parents tell us they want their teenage children to be able to use online banking. We want to let our younger customers experience the benefits of online banking in a safe way, giving them the opportunity to feel in control of their money.

Barclays Cloud It – This is now available through online banking and the Barclays Mobile Banking app. Being able to access secure documents whilst on the move will really make our customers’ lives easier.

Mobile banking – We are going to allow our mobile banking customers to set up new payees on their mobiles. This will extend the app and mean that customers can really do much more on the move. It is due for release in Q1 2014.

Windows phones – We have seen lots of ideas about how we can extend our services further and make them available to more customers using Windows phones. In January 2014 we made mobile banking available on Windows 7 and 8 phones, with Pingit being available from May 2014.

Coin machines – Our customers have told us that something that can automatically count coins and credit accounts would be a great addition to our branches. We are piloting an assisted service and installing paying-in coin machines in a number of our branches.

Cont.

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Pending transactions – One of the most popular ideas was customers wanting to see their pending transactions on their online banking. We are looking into this, but there is not an overnight solution.

Freephone customer service numbers – We are the first bank in the UK to commit to removing all premium rate numbers and replacing them with Freephone or local rate numbers. It will take a number of months to phase out premium rate numbers but we are expecting that this change will come into full effect by mid-2014.

Debit card fraud – We have recently launched a 24/7 text alert service so customers can tell us quickly and easily if a transaction is genuine or not.

Mini branches in supermarkets – We have seen lots of ideas from customers about this, and we recently announced the exciting news that Asda and Barclays have formed a partnership to make everyday banking services more flexible and accessible. Branches will open seven days a week inside some Asda stores from 2014.

Paper reduction for marketing – This year we have turned off a lot of paper-based marketing communications and are sending customers emails instead. This gives customers the important information they need wherever they are located. In 2014 we are testing further email capabilities.

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One major initiative in 2013 was to ask all Barclays colleagues to participate in the Barclays Values Jam – a 68-hour online forum that facilitated discussion between colleagues and leaders across the world.

The Jam gave everyone in Barclays a chance to share their views on our Purpose and Values, and what we can do to accelerate our journey to become the ‘Go-To’ bank.

It was the single biggest Barclays-wide event ever held for colleagues, with nearly 50,000 people registered to participate. Nearly all of those registered took part, reading and engaging with discussions ranging from ‘What they would do as CEO’ to ‘How we can increase our Integrity.’

The content of discussions was emotive, and stimulated global interest. In reviewing all the discussions, 21 key topics were identified, revealing four overarching themes:

1. Living the Values Every Day

2. Being One Barclays

3. Our Culture

4. Achieving ‘Go-To’

The Barclays Values Jam

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What we are doingThe output from the Jam has helped us to:

• Identify actions and initiatives to further embed the Values and Behaviours

• Provide input into ongoing Senior Leader Group meetings, activities and toolkits

• Discover further actions and role modelling behaviours required to embed Values

• Understand thoughts and feelings of our colleagues so that we can discover how best to engage and communicate with them

• Identify the support colleagues require to live the Values every day

• Replicate great practices and behaviours from different areas of the bank

• Gain insight from our employees into what we need to do to become the ‘Go-To’ bank

• Underline the importance of regular multi-way dialogue across Barclays.

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Citizenship at BarclaysTo find out more about what we are doing around Citizenship, please visit http://group.barclays.com/about-barclays/citizenship