Ann: Dividend/Distribution - VUK, page-6

Lifted from the interim report last night in CEO commentary...

"...Having returned to paying a dividend alongside our FY21 results, and following the Group’s successful participation in its inaugural
stress test last year, we’re able to update the market on our capital framework and returns policy. The Group will operate in a CET1
target range of 13 – 13.5% in the long term, although we will operate above this level for the time being due to heightened
macroeconomic uncertainty. The Group will target a 30% full year dividend payout ratio and the interim dividend is expected to
represent around 1/3rd of the prior year’s total dividend, beginning H1 2023. Dividends will be supplemented by buybacks, subject to
ongoing assessment of surplus capital, market conditions and regulatory approval. Given a strong capital position and robust H1
performance, the Board has announced an interim dividend of 2.5p."

Hope this answers your question.